The Oamaru Mail. SATURDAY, JANUARY 21, 1911

Oamaru Mail, Volume XXXIX, Issue 10671, 21 January 1911, Page 3

The Oamaru Mail. SATURDAY, JANUARY 21, 1911

It is difficult to understand why so many worthy people of The Loan that the Dominion, are so Failed Not. anxious to prove that the loan has failed miserable. Some good financial houses handed the money over, and if they have not got it back from the public they will not have very long to wait for due course of reimbursement. At all events the backers are not apprehensive, and the best financial journals have pronounced the loan successful enough. From the point of view of the undertakers there does not seem, therefore, much to regret. From the point of view of the country, Sir Joseph Ward put the case very well the other day. He asked who are the parties benefited. an'd he answered the local bodies, who get their moiifiv at 3*, and the farmers and struggling citizens, who get "their advances at rates of interest unheard of among the circles of private capital. Money may be sent out of the country, and what goes represents capital subjected to the graduated tax, the absence of which means the establishment of other capital in its place doing the work of fructifying very much better. The other day some Australian commission men we're bemoaning the refusal of capital to support, their ventures. Thev had in hand some hundreds of thousands worth of "runs" for sale on the Loudon market. Things were going well; every moment • they expected to engineer the final landing of the big fishes. But suddenly the news came that a graduated tax had been imposed by the Federal Government, and at once'the buyers took wing. It was a terrible failure, no doubt. But this, in the first place, is not sending money out of the country: it is preventing money coming in, and if the investors had heard the story of the Greenwood and the Akitio properties and the enormous profits made by simply reselling after a year or two for closer settlement it is probable, they would have taken up the offer. However, plentv of money came from Australia to the Dominion after the graduated tax was imposed. In which case the capital left a non-graduated country for one which had established the objectionable impost firmly. But admitting the exodus of such capital as goes to the Argentine and such places at the bidding of great companies and big landowners, who consider themselves the only persons having any right to hold land, two things are "certain: (1) That' the empty places are very soon filled, and (2) that the bulk of the settlement of the country is vastly benefited by the loan moneys. It seems to suit the book of those politicians who criticise the loan policy to declare —(Parliament not being in session)—that no loan should be issued for any purpose whatever. But the fallacy, of condemning loans for reproductive purposes which cost the taxpayer nothing and benefit him greatly, requires only its statement in words for its refutation. As well post tip in the high places of the Dominion: "Thou shalt not. improve thy estate in any way whatsoever." The taxpayer's interest then has been as well served by the,loan as the other great group of special interests 'mentioned. From three points .of view*—of the' : undertakers, of the beneficiaries, and- of the tax-i-payer—the loan has been eminently successful. It;> is useless to say anything more about" it. " ; FniEDby the example and advice of Mr M'Nab, the memImperial Federation, her for Clutha ■; has determined to; take the stump. What his" predecessor did for the cause of Defence that Mr. Malcolm proposes to do for the cause of Imperialism. He began his: campaign at Balclutha, and men wondered why he had so little to say to his constituents about one of the mast prolific sessions in our annals. As Mr-Mal-colm is a distinguished member of the Opposition this is a very eloquent silence of his. Whether he goes on with the campaign depends upon whether he gets any invitation to do so. But the lieges of the Dominion have scarcely got to the pitch of approving on principle the resolution which Clutha passed (as a matter of course') for the encouragement of its member. That resolution affirms that "the time has now come for the federation of the British Empire under, an Imperial Parliament." Now the lieges are quite prepared to vote thajj one clay, some distance off yet, the

time may be ripe for the federation or the Empire under an Imperial Parliament. But that time is not yet, and uo one will be ready to affirm that it is. Before the time can be. said to be ripe, the centres of population will have adr ranced-far outwards, 'sufficiently far to give equilibrium to a Parliament of sections. The Parliament of a federated Empire, may be the final top of the development now going on. But its:immediate attainment is too remote for practical politics. Mr Malcolm means well, and he handled his subject well, so far as the reports inform us. But he is not likely to find its handling a , passport to the top position in the roll of the statesmen of the Dominion. He may take Mr M'Nab's advice to go out into the open for war. But he will not, having gone out, find the same success. The following telegram from the office of the Minister for Internal Affairs has been received by the secretary of the Waitaki Acclimatisation Society :—"lt is deemed advisable to retain the Ist of April as the date for the opening of the shooting season for red deer in Otago for the present year. In making this proposal the Minister has taken into consideration the strong representations of deer stalkers that the postponement of the opening might result in licensees being unable, on. account of the severe weather in the hill country to make use of their licenses during the latter part of the open season. ■Further, he would suggest that a conference of the acclimatisation societies, deer stalkers, and others interested should be held towards the end of this year to consider the date of the opening of the season, and fix definitely a date that should bo a"dhered to in the future. Sections 3 and 4 of the petition seem to bo treated very lightly by the Society, but the representations received in great mi in tier make the difficulties referred t.i vv,,rth consideration. —Hugh Pollen." " ; |Mrs Lajigdon, the old lady who met .with, wiv.e injuries last Saturday in the .fire which destroyed her dwelling in Ch';l:i;er street, died in the hospital last night. The cause of her death was shock, brought about by the fire. Mrs Langdon, who was in her 84th year, had resided in the Oamaru district for very many years. Prior to the general meeting of the Council last night a special "meeting was held for the purpose of fixing the weekly half-holiday. The formal resolution appointing Thursday as the day was moved by Councillor Vernor, seconded by Councillors Keys and carried without dissent. Harvesting operations have been carried on vigorously during the week, and in some parts of the district a few days will see the grain all in stook or stack. Wheat is, it is pleasing to hear, turning' out in some instances much better than was anticipated, the ear being well filled and. the grain of good quality. Oats generally have not fared' so well, and in many instances the crops are miserably poor. Prospects for winter feed are much better than was the case a few weeks ago. Mr R. W. Monson has received word that his son, Mr R. B. P. Monson, at present at Otago University, has passed his final examination for the M.B. and Ch.B. degrees (Bachelor of Medicine and Surgery.) An experiment in footpath repairing ■.vas brought under notioo by Councillor Frith at last night's Council meeting. Taking advantage of the tarring and sanding of asphalt footpaths, which process was now receiving attention, Councillor Frith had asked the Engineer to have his men treat a section of unasphalted footway with tar . and sand. The portion dealt with was on the west side of Thames street, be- 1 tween Coquet and Eden streets. By observing this section Councillors would have the opportunity of ascertaining '. whether this cheap method were effective enough to warrant its general use. Ho himself was of opinion that the experiment would prove successful, and i the Council would then be able at a small expense to repair many sections of footpath that badly needed attention. I

Many people have lately been, opDressed with a fear that the watei supply .f Oamaru was likely at no distant <k'i->! to prove insufficient for requirements. In order to ascertain th< true state of affairs the Borough Council recently instructed its race inspector to report regarding the present supply and at what cost it might be increased. The report read at the Council table last night should serve to set all fears at rest, for the race inspector stated that the supply could be increased by practically one-third at a cost of about £l7O. Some Councillors were sceptical as to the accuracy of this report; it appeared to bo ton good to be true ; but all who remarked ■>u it- agreed that if correct the ropon ■-iiov.od that Oa-marn need anticipatino shortage of water. The Rank of New Zealand bar, received the following cable iron; its London Office: "The prices have improved for all kinds of wool. The demand is active. Coarse crossbreds, 36-4l)\s duality, average condition. BAd to !):i per ib; medium crossbreds, 4-1-Jfj'.-: quality, are higher than above 3t>--iO : .-.. by lAd to 2jd per lb; fine crossbred*. 50's quality, are higher than abort" 44-46's, Id to lgd per lb; inferior merino common, 60-64's, quality, 9Ad to lOd per lb; superior merino super., 60-64's quality, are higher than above 60's, 2i.d to 3d per lb; half or quarterbred 56's quality, average condition, are liigher than above common, 2nd to 3d per lb; merino sheepskins, sll kinds, prices are 5 to 7£ per cent, lower; crossbred sheepskins of all kinds, prices are 7-Ad to 10 per cent, lower." About midday on Thursday a number of Oamaru people watched with interest the progress of a cyclist who had ridden from Christchurch that morning, and after a rest started up i Severn street, bound for Dunedin. This was W. L. Oldham, a Christchurch road cyclist, who on October 19 of last year, beat the Christchurch-Dunedin unpaced record of 18hr 20min, covering the distance in 17hr 7Jmin. On Thursday at 4 a.m. he left Christchurch intent on lowering his own record. At 1.20 p.m. he reached Oamaru, where he spent 35 minutes, and at 6.53 p.m. he reached his destination, the Dun- ■ edin Post Office, having covered the distance in 14hr 53min, 2J.hr faster than his previous time. The greater part of tho ride- was accomplished with a strong favoring wind, and during the whole course of 243 miles not a single machine mishap troubled the cyclist. The Otago Daily Times says:—Last year the Taieri and Peninsula Company enjoyed a most successful season, returning its client's over lid per lb for their butter fat. This, it is claimed, is a higher price than was paid by any other dairy company in New Zealand. Owing to the dry season experienced lately, the price has gone back somewhat, but the company fully anticipates that at the end of the season the sum payable to its milk suppliers will he quite as high, as that paid last year. The latest reports from London are to the effect that the Company's butter on the London market is meeting with a splendid reception, and that as lone as the quality remains at its present nigh standard it is certain to command the top price on the market. In view of the reports' from Home the prices realised at this week's wool sales (says the Daily Times) were as high as might reasonably he expected, and, taking them all through, the values were well oyer the average for the last 10 years. It is generally agreed that the quality was not up to last year, the wool being a little bit heavier and not so bright-looking, owing to the dry weather in several districts. Keep a bottle of Stearns' Wine of Cod Liver Extract at tho office—refreshing and invigorating—revives your lost energy after a strenuous day of. important meetings. Prompt and effective. 21 Messrs J.-D. Familton and Sons report the private sale of Mr John Ofr's property on the North Road, containing half an acre freehold, with dwelling., to Mrs M'Combe, at a satisfactory figure. PHOSPHOL is an emulsion; of Cod Liver Oil with, Hypophosphites, and. is the finest nerve, bone, fat, and musclebuilder known. Pleasurable satisfaction: You smoKe Crown Mixture; it realises the smoker's ideal, the last puff is the sweetest, extra quality tobacco pouches. I'll sell cheap. Superior haircut, best shave at Jackson's Crown Saloon, next Post Office. A Neat and Artistically Dressed Head of Hair greatly adds to a woman's appearance. Mrs Hemsley Burnet will teach ladies' how to dress their hair in becoming styles. Next V. C. Hjorring, Solicitor/ 902