THE OTOGO DAILY TIMES FRIDAY, APRIL 16, 1886.

Otago Daily Times, Issue 7539, 16 April 1886, Page 2

THE OTOGO DAILY TIMES FRIDAY, APRIL 16, 1886.

We publish in. another column the prospectus of a 'new woolgrowing company apparently about to be floated in England, to which we

feel bound to call the attention or! our readers and the Colony generally. This new venture is called "The Otago Woolgrowers Company (Limited)," with a nominal capital of LIOO,OOO in 25,000 shares of L 4 each, of which LI per share is to be paid on application and L 2 on allotment. The operations of the Company involve the grazing, under pastoral license from the Grown, of .243,810 acres, together with some 3000 acres of freehold, the leasehold being made up, as we have taken pains to find out, of the following runs : —

Run. Acreage. District. Lessee. 333 51,560 Wanaka Hogg, Howisou, nndNico! 333 a 28,790 „ „ 350 49,740 Wakatipu John Nicol j 417 15,900 „-■■■•> I 324 ti-4,820 „ " „ 418 ) on nnn 431 J" • W)OW " " The proposed Company has attached to it the usual array of directors, brokers, and bankers, and the prospectus in other respects presents to the ignorant or the unwary a by no means uninviting aspect. The vendors, as appears from the prospectus ! and the above statement of the runs, are Messrs Hogg, Howison, JSTicol, and Co., of Dunedin, who, "for these extensive and fertile lands," with stock, ifec, are prepared to accept the modest sum of L 65,000, of which only L 50,000 is cash, and the balance paid-up

shares,

Such are the leading features of-the proposed Company. The prospectus isnot published .here so far as we know, nor, as far as we can gather, has it yet become entirely public property in England. It is circulated privately, so to speak, "while only some two or three copies have seen the light of day in this portion of New Zealand. An accurate copy of one is now before us; and after a careful study of it, we can scarcely find terms strong enough to characterise it. With every desire to assume that there.- is a fibre of common honesty running through it somewhere, we find it a task of some difficulty to trace ifc—in relief, at any rate —anywhere through the prospectus. Recalling to the best of our ability all the. wild schemes on which a trusting English public has ever been invited to throw away its surplus money— from the time of the South Sea Bubble and the commercial visions of John Law towards the close of the last century, up to the wild mania for South American mines and impossible railways that marked the first portion of the present, — we do not know that any one of them afforded a surer means of losing money than the Ofcago Woolgrowers Company (Limited). The prospectus contains two elaborate tables designed to show " the profitable and progressive nature of the business to be secured by the Company," but gives no hint that t.hs " progression" hitherto has been steadily and disastrously backward. Mention is made of the fact that the rental is only one-halfpenny per acre, but it is not of course conveyed that the rental has come down to that 1 through a succession of desperate evils which compelled some of the most I practical and industrious settlers in the Province to abandon the country at a time when the pastoral industry was everywhere else prosperous. The English public is led ! to believe that the country in question ! is now carrying 25,000 sheep, besides horses and cattle; but they have no means of knowing, as we have, that, the present occupiers returned for two successive years—lßß4 and 1885 — 5000 sheep as the number actually grazing on the country. The prospectus suggests that "these extensive and fertile lands" grow artificial grasses, root crops, grain, and fruit; but it forgets to mention that the great bulk of the country lias proved itself notoriously unfit to carry on the business of woolgrowing on which this proposed Wool growers Company is to depend for its "IS per cent." of profits. It is suggested that 30,000 acres are to be "acquired"—by which we presume is meant purchased, although the law does not permit the purchase by lessees; and it further suggests that cultivation should in the meantime proceed on it, although that also is not by law permissible. It is forgotten in the prospectus that the country is desperately overrun by rabbits; that it would probably take the whole, nominal capital of the Company to clear them off; that this fertile country averages about 5000 ft above sea level; that the keas have proved hitherto a most destructive pest; that the place is a happy hunting ground for wild dogs; that the pastoral country is hopelessly separated by the intervening Crown Range," and that the freehold has no possible connection with either half of the pastoral country. C4reat, however, as is the audacity of the rest of the prospectus, it reaches its climax in "Table A." That table proves that on this country, where the'■mortality has hitherto been greater than in any other quarter of pastoral Otago, never a sheep is to die for the future ; and where lambs'have for many years been almost unknown, there is to be for the future a fecundity and an immunity from death and disease not equalled by the best woolgrowing districts in the Province !

It only remains for us to say that in thus going over in detail the prospectus of the Otago Woolgrowers Company we have departed from our usual custom of leaving such matters to the judgment of the commercial public. It seems to us, however, that the commercial credit and good name of New Zealand are involved, and that it was imperative on someone to expose so flagrant an attempt to delude the too credulous English investor. There is at the present time in England so great an accumulation of wealth, and so much difficulty in profitably investing it, that a good deal of it is likely to overflow into the Colonies, and especially into the Colonies of Australasia. In view of such a thing, it is in the highest degree desh'able that the English capitalist should have confidence in Colonial securities. We suspect that some past experiences might have a tendeiicy to detract from the repute of New Zealand as an investing field, and the floating of the Otago Woolgrowers Company is as likely as anything we know of to give us in that respect the poup de grace. The prospectus of that Company is a deliberate attempt at fraud upon the English public and an outrage on commercial decency, which should be exposed in England before

it has time to involve in loss or ruin anyone who may chance to be attracted by its audacious plausibility.

Reports of yesterday's meetings of the University Council and Education Board appear uu our fourth page.

The Shaw, Savill, and Albion Company's steamer Coptic is expected to arrive this morning.

A number of alterations in the railway timetables are announced to come into operation on Monday next. No alterations are made in the running of the northern and southern express trains. The principal alterations are in the hours of leaving of the trains between Duuedin, Palmerston, and Oamaru. The time of leaving of two of the trains from Port Chalmers to Dunedin is altered from 3.10 and 8.30 p.m. to 2.25 and 9 p.m. respectively. The service on the Romahapa line is altered, and trains will only run mv Wednesdays and Fridays.

An occupation of Jupiter and satellites takes place this evening, and is visible throughout the Colony. As the moon is nearly full, the eastern limb, at which the disappearance takes place at about llh 32min 20sec, will scarcely be in a position to take observations until the first contact. Jupiter reappears about 12h 30min 56sec. An occupation, it may be stated, happens when the moon passes before and hides from a spectator the planet. If the atmosphere is clear a fair view may be obtained by means of a good opera or field glass.

A long sitting in Chambers was held yesterday by Mr Justice -Williams, when evidence and argument respecting Mr J. B. Blair's claim against the Duntroon-Hakateramea Railway Company was heard, but decision was reserved. Another claim against the Company was settled by an agreement between the parties.

' With reference to the contradictory telegrams which have been received in regard to the forwarding of the San Francisco mails which were on board the White Star liner Britannic when she broke down, the Postmaster-general thinks the New South Wales portion only was sent by way of Brindisi. The Aiararoa is waiting for the New Zealand bags at San Francisco.

At a meeting of the Otago University Council held yesterday the question of the appointment of a professor of mental and moral philosophy was reopened and discussed. In the first place Mr Macandrew proposed that the previous motion adopting the series of five resolutions agreed to by the Couucil in committee should be rescinded. This was carried byfive votes to three. Mr Fulton wished the resolutions advising legislation to amend the provisions of the Act under which the appointments by the Church Board of Property and the Synod are made reaffirmed, leaving • the question of Dr Salmond's appointment to be dealt with separately. Some difficulty was, however, experienced in moving a formal amendment to effect this purpose; and as it was decided to take the vote upon the question of the acceptance of the appointment of Dr Salmond, Mr Fulton said he was quite indifferent about the appointment and that he did not care to vote upon it, and as he wanted to catch his train, begged to be excused, and left the room. On the motion being put it was carried by the casting vote of the Rev. Dr Stuart (the chancellor), who also used his deliberative vote in its

favour.

Mr N. J. Burrows, gardener to Mr H. Driver at Horseshoe Bush, died very suddenly on Monday from the ruptnre of a bloodvessel. He had been working all day, and after tea complained of feeling unwell, expiring almost immediately. Mr Burrows was known as a very successful exhibitor at the Horticultural Society's show".* He leaves a wife and family of five children. Messrs A. Reimie (chairman), W. Hutchison, H. Gourley, A. Solomon, J. Green, A. Scoullar, Kirkpatrick, Hart, and R. Wilson were the members of the Benevolent Institution Trustees present at the meeting held .yesterday afternoon. It was stated .that the dining-room accommodation at; the- Old Men's Homo was insufficient, and the trustees resolved to go to the

Institution on Monday next and inspect the

premises. A motion was carried tusking the Government to allow the -Institution a lower tele-

phonic rate than that levied on ordinary snb-

scribers. It was also agreed to supply the Charitable Aid Board, with a monthly

abstract of the expenditure of

the lii-

atitution, and to , defer .consideration of a motion to the effect that" the trustees should engage a man to act as inspector of the outdoor cases for relief, and to have charge of the Old Men's Hume. "Accounts amounting to £147 63 lid were passed for pnyment, and a number of applications for relief were dealt with.

A special meeting of the Port Chalmers School Committee was held on Wednesday evening, when it was unanimously resolved to recommend the.Education Board to appoint Mr John Allardice as rector, vice Mr M. Fearnley, M.A. (resigned).

Mr C. Cowan, M.H.R. for Hokonui, addressed the Wiuton portion of his constituency on Tuesday evening. The Mayor (Mr James M'Arthur) was in the chair. Mr Cowan, after reviewing the past session and touching upon a variety of matters of local interest, said in regard to borrowing, that the country could not do without nt for some years. He said be would support borrowing only to go on with works which had been commenced; but he would not complete any of these works beyond the reproductive point. Any proposal to increase the customs tariff would at the present time be very injurious indeed. The great question which should be considered aud decided was the reduction of the cost of administration. The affairs of the Colony were managed on too costly and elaborate a scale; they had all the paraphernalia of a government which would be suitable for a much larger country. When the present Premier went into office it was promised that a reduction of £100,000 would be made. He hoped the Governmeut would remain in office to fulfil that pledge. Owing to the configuration of the country, the cost of administration was necessarily greater than in other countries not similarly circumstanced ; but even considering that, he thought the cost could be reduced, and the people do without a lot of the luxuries they now enjoyed. Mr Cowan received an unanimous vote of thanks and confidence.

The following notices of motion wore given at the meeting of the Education Board yesterday : —By Mr Fraser—" That the Board select from the list of applicants for any vacant post the most suitable candidate for the appointment, and recommend the same to tho committee." By Mr Begg—" That the present scale of allowance to members for travelling expenses is excessive, and that in future the scale will be as follows: ' Railway fare actually paid each day, and the sum of 10s each day when a Board or committee meeting is held and attended by any member residing five miles outside Dunedin.'"

The Tablet states that since tho death of the late Mr George Purton, of St. Bathans, there is not a Roman Catholic justice of the peace to be found in the province. The fact, it says, is " somewhat remarkable, although whether it is due to intention or accident we are unable to decide. It does not, however, point in the direction of a strict impartiality."

The Sydney Daily Telegraph thus comments

upon the New Hebrides question:—" As Australians we object altogether to the establishment of foreign Powers in our seas, in proximity to our shores, or upon our leading lines of mail communication. We recognise that their presence here alters the conditions of life for us aud introduces a difficulty into our future. We believe that it would be as reasonable to expect Frenchmen to cheerfully acquiesce in the loss of Alsace and Lorraine as to think that the great Australian nation of the future will ever consent to the permanent neighbourhood to our coasts of European Powers, with their conditions of entanglement and menace."

In reference to Mr Stuart Cumberland's visit, the Argus says that there is in one sense nothing in thought-reading. It leads nowhere. If you give a clever thought-reader a clue he will eyolve something, and if you ,Uo not give him a clue he is as much in the dark as anybody else. A politician with a secret or a wrongdoer with a crime upon his conscience are quite safe in his company. In this respect thought-reading

is worse even than mnemonics, the merits of

which were reckoned up by the hallkeeper who had listened with admiration to a discourse on the subject—" Blessed," he exclaimod in deep disgust, "if that artificial-memory chap ain't forgot his own umbrella !" But if they are not practically useful, the feats of the thoughtreader are surprising and amusiug. And mankind is always interested in any iucident which lights up or calls attention to that great daily mystery of the world, the hidden union between mind and matter.

The following fine thought, which occurs in Cardiual Koran's last p.astorn], is worthy of wide publication :—." The world holds no.thing more prepious or more beautiful than tho cultivated intellect of man, enlightened by faith ; and it is worthy of the Church that it should boldly vindicate the cause of science in the same breath ■with that of religion itself."

The exuruinatioii for the ne.\t Gi!chri:;t

Scholarship will be held in February ISS7, mid in connection with it the Registrar of the Otogu University (Sir Mansion!} has received a copy of thtj rules and matriculation regulations of the London University.

Mr Charles Russell, the Government astronomer of New South Walts, in speaking recently at the Sydney Technical College, at which the average attendance last year was over 1000, said that "every day ig:iorauce of technical mutters is costing the community ten times more than it would to educate: every man for the. work he has to do." He pointed out " that for a man to master all that he ought to know in many of the trades requires that he apply himself as assiduously to study as if he were in training for a profession

In some trades the wunt of technical education is a source of the gravest danger. Plumbing may bo mentioned as an example. Tho management of house drainage belongs to this branch of industry. But there are plumbers who, whilst they believe that the sole function of a house drain is to carry off the slops and waste fluids into the sewer, are ignorant us to the imperative need for precautions to prevent the escape of sewage gases into the houseTechnical education would remove that ignorance, if it did nothing more." John Russell also stated that " English tailors like Cooke and Stultee employ foreigners in place of English | workmen, because the foreign tailor is taught geometry, anatomy, and freehand drawing, ami the English workman is not."

The provision m the Justices of the Peace

Act providing that when any justice shall neglect to take his scat on the day fixed by the rota he shall be specially summoned to attend the nest sitting of the Court has aroused tho iru of the Hon. Colonel Brofcr.. The Lyttelton Times says that, having received an intimation to attend, the hoii. and gallant member was invited to take; v seat on the Bench; This he declined tv do most emphatically, and madi- a.

most vigorous onslaught—in word-i—upon i\ Government which could sanction Mich :■■>' on) -

ragcuiis proceeding as summoning «, justice to attt-nd a Court, and tho clerk to the Bpucli who had the presumption to be tho executive otiiet-i----in putting into lorc.e that Government's pleasure. Tho gallant Colonel enforced his remarks by flourishing a thick stidc, to the manifest detriment, of somebody's hat on the tablo ciose by, and, having finished his protest, leffc.thu

chamber.

Tne Lumsden correspondent of the Southland Times states that Mv Gowring, of the Colonial

Bank, was never lost at all, but was flayed

through his horse straying. The worst feature of the case is that a search party lias beer. d«-

spatehed from Queenslown across the country to M.'tnapouri to look for Mr Gownng, and cannot be recalled until they arrive at the latter place. A party from Arrowtowa had arrived at Lumsdeu to go via Manapouri to meet the Qiieenstowii one, but of course can now

return,

In his speech at Napier Mr Onnond explained that he had intended to vote for Captain Russell's motion when proposed inu legitimate way, because it was a vote of want of confidence, and no Government could have stood defeat on it without going out of office. When, however, he discovered the use the Canterbury members intended to make 01 the motion he declined to bo a party to it. "I took/ ho said, "counsel with a uuniber of members who, together, had enough votes to give tho Govorimienfc a majority: and Mr Montgomery was chosen as our mouthpiece) to go to Mr Stout aud assure him of our support and our voles if they resisted the demands of the Canterbury men, and also promised to support them in throwing out Captain liussoll's motion. Mr Montgomery went to Mr Stout, but Sir Stout's answer was th.it the Government had decided not to make the motion a Government question, anil their .supporters could vote as they liked upon it.' You will see this —if it were as Ministers represented—if they, being behind the scenes, knew t'l.'ib the passing of the motion would cause suffering by throwing men out of employment—they hud the means plauod at their disposal of defeating the motion." .

Commenting on the loss sustained by tlie long-continued drought as disclosed in the grain statistics of Waitaki County, the Oamaru Mail states that taking wheat, oats, and barley at the lowest market rate, the loss in Waitaki County alone amounts to fully £35,000. That loss is but a fraction of the whole loss the Colony has suffered by the drought.

Messrs.) a snes Samson and Co. will sell household furniture to-morrow. ...-

A meeting: to form a branch of the New Zealand Alliance for the prohibition of the liquor traffic will he. held this uverung. Sir William Fox will take tiic chair.

The proclamation of the Hon. George M'Leau, Governor, Rilling the Dunedin Parliamentary Union to meet on Saturday appears elsewhere.

The Oliicml Assignee announces iinai dividends in the estates of Philip Cahiil, James Pinch, and Andrew Harris.

| [Members of the Dunedin Bowling, Lawn Tennis, and Fives Club are requested to be on the Ween on Saturday.

Passengers per Jtimutalta for London must join at Lyttelton on the 26th inst.

"Messrs Donald lieid and Co. will sell on Thursday, at Bemft&kaii Farm, steam-engine, threshingmachine, ehaft'entter, &c.

The cantata, of "Joseph" will be given at Sfc. Andrew's Church on Tuesday evening. Working men should do "what Hercules advised the waggoner. They should form unions in ever}' centre of population, and have head centres in every town—no longer to elect representatives, but delegates whose first business should be to see that the. working man was not overworked, underpaid, i-r got to windward of iti any shape or form. Working men should deal with no other butcher than A. Dok>'\veix, who, with his numerous carts and shops, siippl!>-s the best Meat tit the lowest prices. Last, week upwards of ■100 sheep sold.—[Advt.] "'" Having no desire to increase the already 100 heavy duties of the Official Assignee, I o.nnot see my way to accept the advice tendered by my energetic friend. I would advise working men in every department of labour and productive enterprise to combine' to maintain a fair rate, of pay, as the competition between capitalists tends to a reduction in wages. The employment of iioys and girls in the place of men should be discouraged and the number of apprentices limited. Hudson's Cocoa has worked its way into favour because it is 50 per cent, better value" than any imported. When once used it is preferred to all others, and numerous testimonials as to its excellence have already been received.—[Advt.]

The Guaxd Hotel, Dunedin.—During the winter and apring months a few permanent guests will be accommodated at redmen rates. Terms according to location of rooms. The Hotel is delightfully comfortable in winter, being entirely tree from draughts, whilst tho luxury of the hot spray and hot shower liaths is not to be found in n:iy other hotel in the Colony. Special arrangements' wilt be. made with any country family desirous to spend the winter in Dunedin.— [Advt.]

For tick Dull Times.—Wonderful Bargnlns: New Curl Cloth Jackets (perfect fitting), l^s 6d, l!s lid; Astrakhan Trimmings, JVatherTriinmings. 4?d ; rich quality, IOJd ; hravy American Calicoes, 3*d : Five-ply Fingering Wool's; Ladies' Knitted Wool Skirts, 3s (id ; Black Quilted Skirts, 3s 6d, 3s lid. Try our Electric Waterproofs, 5s ~d, tis lid ; splendid Costume Tweeds, fljd; rich Plushes; lovely Silks. Is •l^d. Best, value in the city. Try the London Dressmaking, 12s 6d.-P.MC.ic AM) Hin.T.iiii). Managers.—[Advt.]

To m«et the times, G. IS. Deemkk has reduced the price of his popular Rheumatic Remedies to ss.— [Advt.]

Doubtless many of our readers are unaware thai in these times of depression and scarcity of ready money Scotch and 11 rail ford manufactures are thrown «n the market at ruinous prices. J'or instance. Fyfe and Cunjiiig are offering in dress goods a stock of Grandholm dress tweetis in a choice assortment of colours, -l|il yard; also, 150 pieces heavy Melton tweeds at Sfd—worth more money in London. Country orders carefully executed and sent on at onec— Vyvk axn Cvmixk, direct importers, 92 ami <H George street.—[Advt.] JJead the following Astounding Bargains, then please, make a bee-line for Carter's: —150 gross of New Fancy Braids, S'}d piece of 3tiyds— wort h 'A< tit\ piece; Ladies' Long Cushmere Mitts, tifd pair— worth Is; I'ooyds Fur ffrimming, ifi, Syd/lnjd— cannot he obtained at double the price elsewl'ci'ii; Astrakhan Trimmings,(j^d yard; Ladies' Four-button Cashmere Gloves, (j?d pair—worth Is Oil; Blankets, from 7 s lid pair; Flannels, 7-} d yard; Dresses a specialty; Millinery 50 per cent. lower than our emnnetitors ; 200 Co'oured Alhamhra Quilts, i's lid, 3s lid,-Is lid—worth double; Feather Trimmings • n few only left. Vest finality in Dumdin, lOid yard ; Clothing! Call early at "Caktku's and inspect.— [Advt.]"