Daily Circulation. 1640. The Oamaru Mail. WEDNESDAY, MARCH 20, 1895.

Oamaru Mail, Volume XX, Issue 6210, 20 March 1895, Page 2

Daily Circulation. 1640. The Oamaru Mail. WEDNESDAY, MARCH 20, 1895.

The world's commercial barometer is being anxiously watched for decided symptoms of that upward movement which has been awaited in vain through so manv tedious years of unrequited toil. Recent"intelligence that it is registering higher for wool and grain, and that there are solid reasons on which to base a hope of something better than an ephemeral unappreciable rise will do more than anything else to revive trade through all its ramifications. What is really at the root of the change for the better which seems to be creeping upon the commercial world nobody appears to know. The problem of trade is as incomprehensible as any marvel in physical science, and it seems that when the elements are antagonistic the best that can be done is for people to keep afloat if they can, lay down their oars, and wait. Yarious reasons will, however, be assigned for the brighter phenomena which are having their effect on the commercial world's weather gauge. The quidnuncs will tell us that it is this or that which has produced the effect. Most people will care but little what it is, so long as the effect is really produced. But if the problem of the cycles of alternate commercial depression and activity, which appear with almost as perfect regularity as the harbinger of the day, were understood, some antidote might be discovered. Whatever may be the cause, the effect is universal, and there would, therefore, be a universal desire to deal with the evil. The immediate cause of the rise in wheat is said to be the lessening of supplies irom America ; but what has lessened the American supplies, and will the undersupply continue long enoughto benefitwheat-growing countries? Let us hope that the prediction that America's capacity to grow wheat so as to undersell the colonies would soon come to an end if its cultivation by that country were continued at such an extravagant rate, is about to be fulfilled. But we find that, for the week ending January 26th, 1895, the amount of wheat and flour imported into Great Britain was 2,306,500 cwt., whereas the amount for the same period in 1894 was only 1,159,296 cwt., whilst the total amount of breadstuff's for the same period in 1895 was 4,244,020 cwt, and, for the same period in 1894, 2,815,518 cwt. It is clear, from these figures that up to quite recently Great Britain's supply of breadstuffs from outside had not been neglected. There are, unfortunately for us, many other sources than North America for the production of wheat at low cost, or, at all events, at low prices, and any shortage in the supply in Great Britain and the Continent is therefore rapidly compensated. The causes of the promised revival in prices—for they are scarcely yet more than promised—appear to be deepseated. The hardening in the prices of wool, through a more vigorous demand from all the manufacturing countries, including America, shew this, and, moreover, there is a distinct upward tendency in general trade in all countries. The outlook in Australia is decidedly more cheering. The reconstructed banks are working out their own financial salvation marvellously. The reconstruction scheme imposed upon the shareholders of 12 banks the dismal duty of finding about L 6,000,000 additional capital, whilst the banks were indebted to their depositors to the tune of nearly L 70,000,000. The arSfcunts due up to December 31st, 1894, were L 2,678,675 ; the sum exactly paid was L 3,034,640, the shareholders having actually pre-paid their calls. Six of the banks, have, in two years, reduced their'liabttities to depositors by L 17,758,805. Thus, in less than two years, a half of the calls made in 1893 have been paid and the liabilities to depositors have "been reduced by one-third, and this during a period remarkable only for falling markets. This is encouraging, for Australia's prosperity cannot fail to react beneficially upon New Zealand. But there are still other encouragements from the other, side of the Tasman Sea. Queensland's Premier says that, though no special taxation has been imposed, yet he anticipates next year a. surplus of L 50,000. A surplus in an Australian colony is almost a forgotten event. But this is not all. He expects that Queensland will "supply all the colonies with sugar, and the breakfast tables of Europe with frozen meat. Labor troubles have vanished, bank managers have grown generous, and wool is about to rise." New South Wales is

also emerging from the overwhelming sea of troublous commerce, and Victoria is shewing its head above the surface. With all these brighter auguries at this end, and better prices at the othor, we may sirely be pardoned if we make some show of throwing off our wonted solemnity, Locally, of course, we have our troubles, There having been little or no rain, there is a serious scarcity of feed, which had an effect on yesterday's sheep sales. But, even now, we suppose, a good downpour would cure this evil, and enable our farmers to take every advantage of any revival which may occur in trade. That the long-continued absence of rain is a serious matter for graziers needs no further proof than was afforded yesterday at tho fortnightly stock sales at the Junction yards. We do not remember any occasion since the initiation of the frozen meat trade on which sheep have been sold at a few coppers per head, as they were yesterday. In the old days before the establishment upon a sure basis of the practicability of shipping meat in a frozen state to the outer world gave to our flocks something like a steady value, it was a common thing for surplus sheep to be disposed of for boiling down purposes at a few coppers each ; but with the frozen meat trade as an established industry it was not unnaturally concluded that this sort of thing had come to an end. Tho drought has, however, dispelled the enchanting illusion, and the lick of feed for stock compels owners to quit sheep at any price, rather than sec their flocks decimated by starvation, and gives a new lease of life to tho languishing boiling down industry. At such a time aa this the recent substantial reduction mado in the stock rates by the Railway Department affords a very marked measure of relief to flock-owners, enabling tho transfer of sheep at a small cost from parched-up fields to places where pasturage is more plentiful. This opportunity has been so largely availed of that, to use an expression aptly applied by a railway authority in the matter, "tho stock trucks are run off their wheels." " Puzzled " writes to the Wellington Post to know why the Bifle Association always hold their meetings during the equinoxes. A meeting of the settlers of Glenavy respecting the management of tho Public Domain will take place in the schoolhouse, Glenavy, at 8 p.m., on Tuesday the 26th instant, when all interested are requested to be present. Mails for Australian colonies only, via Hobart, per Talune, have been postponed to 1 p.m. on Friday, 22nd. Mails for London, via Monte Video, Rio de Janeiro, and Teneriffe, close at Wellington ou l hursday 21&t, at 1 p. in. A general meeting of members of the Oamaru Poultry Society will be held in tho Coffee-rooms on Friday, March 22nd, at 8 p.m. At the Geraldine sports on Monday, C. Wilson (scr) won the mile walk from Hart (140 yds), Cobeldick (70yds), and two others, the time being 6min 47 3-sth sec. The milo run resulted in a dead head between Cobeldick (scr) and H. Wilson (45yds), seven others running and tho time being 4min 46sec. W. May started in several events, but ran unplaced throughout the meeting. In bagpipe music and dancing R. Thomson was first in pibrochs and marches, sword dance, and Highland fling, second in strathspeys and reels, and third in the reol of Tulloch.

The Hev. Thomas Cook's mission in Dunedin is proving very successful. On Saturday the attendance was very large, tlio Garrison Hall being well filled. In tlio evening every available spot was occupied, and a large number were unable to obtain admission. Over sixty persons found their way into the enquiry rooms, nearly all of whom professed conversion, and similar results have followed each evening. Tlio afternoon meetings are more especially intended for professing Christians, and aim at deepening the spiritual life of the churches. Mr Cook is a very calm though incisive speaker, and there is an entire absence of rant and noise at his meetings. His appeab are addressed almost entirely to the reason, conscience, and will; and he does not allow his audience to be disturbed by any persona speaking to them in their seats in order to persuade them to enter the enquiry rooms, He believes that if the spirit of God is working within them they will most likely embrace the message of the Gospel of their own free will, without the need of undue pressure from others. In this we think ho acta wisely. We observe that ministers and members of all denominations are assisting at the services. It is announced elsewhere that Mrs Miller has kindly offered to give another free lecture on gas cooking. This lecture will bo given in the Girls' High School at 7 - 30 p.m. on Friday, and, as Mrs Miller is about closing her Oamaru lectures, those desirous of hearing and learning something worth knowing about the art proficiency in which so influences the happiness and health of tliodomestic circle should embrace this opportunity. Besides, it is, under the circumstances, of special importance just now that those who have to do with cookery, or who may have to do with it in the future, should know how to cook by gas. It has been suggested by the London Humanitarian League that pastengers should not stop'bus horses oftener than is absolutely necessary, as the strain occasioned to the animals in re-starting is very great. This exhibits a bubbling to the surface of sordid life of true Christian sentiment, the absence of which leaves a man's nature little bettor than that of a Hottentot.

Some funny stories are told of the Mailt cheater folk, many of whom, as they havo only been brought into contact with real ships for the first time in their lives, since the construction of the canal, know but little about them. A canal hand bawled to the captain of an incoming vessel, the other day : " Are you bringing in the blunt end or the sharp end of that ship ?" The following story is told concerning a certain well-known English nobleman and two emus. He had imported these two amusing bipds in the hope of breeding from them, and, on leaving l>is estate for town, he gave strict injunctions that the greatest care should be taken of the lady emu, if blio produced the desired egg or eggs. The egg arrived in due course, but, as artists havo found before now (says our authority) the lady declined to "ait." The steward was, however, an ingenious man and thought of» substitute ; but his powers of composition were by no means on a par with his inventiveness, and he announced the interesting event to his master in the following termß: " The emu has laid an egg ; but we were in a great difficulty as she would not sit on it. I did what I thought was best, and, in your Lordship's absence, I have placed the egg under the biggest goose on the estate." The Hon T. W. Hislop had an exceedingly narrow escape from a serious accident at Otaki yesterday, (says the Wellington Post). He was going north by the morning train, and having gone off the station to where the coaches were standing, did not notice thj train whistling. Looking round, ho saw it moving from the station, and already fast. He rushed across, and, seizing t' lo . railing of a platform, was in the act oj jumping on when he struck violently against a case which was standing at the end of the platform, was dragged over it, and fell the carriage step. A serious accident appeared inevitable, when someone on tM carriage platform dived down and, seizin? the fallen man, hauled him on board.