OUR LONDON LETTER.

Otago Daily Times, Issue 10562, 8 January 1896, Page 3

OUR LONDON LETTER.

: (From Our Own Cobumpondbnt.} London, November 3. THE BANKS' AMALGAMATION. Oa the 19'.h inst/ tba Bank of New Zeslaiid formally took over the London business of the Colonial Bank of New Zealand. The transfer was managed without the slightest hitch or friction, and all ths customers of the Colonial Bank appeared perfectly satisfied with the arrangements made. Everything has gone on with entire smoothoess, and doubtless will continue to do so. £0 far as can bs judged not a Gisijjle London account held by tha Colonial Btthk will be lost through the business coming into the hands of the Bank of Now Zealand.

It has been decided to retain the services oF the whole of the Colonial Bank's Londou stafl for three months certain with the view of afcai"itinlng for how many of them—if not for nil— ro:>m can bo found in the- Bank of New Zealand's London offioi*.' It was estimated by the Leaden Bauk that vihen the, Bank of New Zoiiand takes over the' Government Stock Inscription busin»Ki from ths Bink of England the services of at .least the entire combined stnft'a of the two backs would be needed in order lo enable tha work to be overtaken. Nothing is known hsre yet, however, ns in the rfat.o ou which this tfanrfi'r will take place. But all who know anything about tho matter ate agreed that the change will involve an enormous amount or troublw aid work.

rySeaLwhile th'o ' late, offices of the Colonial Bmlc sn> ci«s;d, though Mr Cowie, tho manager, stall retV.itis his office (here whilo he is completing his final " clearing tip." There ia .1 rumour in the city that Mr Cowie, like Mr Holmes. Mil havfi a. swat ou the London Board 6i the Hint of Nftw Zealand., '

It must at least bs pleasant for Mr Cowio, and aUo for Str Percy Brown, his "right-hand inau," to hear the general regret, expressed by tbe Colonial Bank cuitbaintrs at the severance of their basihoas relations with these two gautleiieo, whom they recognise as having so sibly aud courteously attended to their interest; and so invariably doae Ail that could be dona to further tbeir objects or wishes. It is hoped thftt both gentlemen will eodtihue to be eoune:.ted in torno way witli Kew Zealand bauking in Londou.

Opinions continue to diife'r as to the wisdom of. removing the \o\zx_ tßaniigenient end stock inscription from the hands of the Bank of Englaiid. Sdirie think ifc will not net prejudicially to N«w Zealand's credit in the long rim. bat all admit thit if a loan Were to be raised next yesr it would make a very great difference indeed, alike in the chances of .flotation and in tho terms likely tb be dbtniried.'

" As the\ Colonial Bank of New Zealand has slwajs been cohiidcred a carefully aud wt'll conducted uuderfciUiWg " (cays the Financial. News), "there'will bo geiier'al satisfaction, at the news that its roati.tger has been appointed to the general hvjhkgership of the roebbsfcitutsd Bank of New Ztnlarid." Under the hc«iiiig " The Bs.uk of New Zealand Mystetj," the Financial News remarks :—" Siiiirthdlders, creditors, find customers of the Bank of New Zenlind slid the Colonial Sink of New Zealand are naturally anxious to have tome particulars off the terms on which the latter bank has been acquired by tie former. But no information is forthcoming. At the London offieds of both, icsti'.ntious we are assured by responsible offiiiUs tiiat they have no'ihforrastibu. la it- tbrougb deliberate discourtesy or through culpable neglect that this (■xtradrdinsry state of tsifairs lias beeii creatjd by the authorities in New Zealand ? It is only fsit to state in the iriosfc emphatic manner thifc the rejpousibility does Hot lie on this nide. Tbe London officials obvittusly cannot communicate information wh:ch they hive no':, received." , OTHTKDIN AND SUBUiIBAN CJiS CO3IPAKV. Oa the 20tb iait. the anoaal general meeting of the Durieclin Suburban GAa Company to'>k plisee at the company's London office, Mr F. Dattou presiding. The year's profit was £137, to which the biilabcn from tlie previons yt&r is added making £169. This it wes agreed to carry i'o'rtrerd to next year. The 'reduction in reveoun (from £381) is cx|ilniiiod by the fact thai depreciation was allowed for to the cxtsat of £H3, in Bpta of ihe stocks hiving bfcen hiiarily written down wLeu the works were taken over from tho .old cdinpaiiy. The ehsjrtnin said ttiere had b?en l;o increase eithsr in btisitieas or in exp'riditdre. It.was hoped that a.small dividend could bs paid next year. Deep regret was expressed at the death 6? ilr Henry Uase, a member of the loeid conainittee p. 6 Ditnedin. He was comparatively a, yonrg ,lnan'; and the board hail great hops that h« would havo been able in the course of time materially and favourably to influence the company's business in DuDedin. Nodectiidn had yet fce?n cbtne to as to his successor., With .regard to the desire of the Caversham Corporation foi' a reduction in the cost of lighting, the saving to be applisd toward ; increasing fho quaiitity of lighting, "Of courte," said the,ctiairixfa'bj " wa shbold naturally he delighted at auy increase of light iog in CaversHan), er any other district supplied by the company, but tbe corporation will not ba angry with us, we1 hop'S, if we demur, under eiiscirig circumitaficso, to ourselves paying for the increased consumption! We^aro very desitoas of tnaintsining the mbst friendly relations with the local bodies, in our district;--, and wb' hope that we may hi able to. arrive at some srraugi-nißct with this Caverß'hain Corporation 'which will to a cer'titin extent meet the views cf bolh parties." Tbs retiribg director aiid auditor were ro-eleetedj and the usdal votes of thanks were pisseil. > DiIiECT TiiApK WITH MAKCHESTKR. A BioiS vjocfi.'sful biriquet wan g yen at the Graarl Hotel, Manchester, last Tuesday evenibg by Meww.'W. Wtddel md Co. to celebrate th«.arrival of the Timaru nith the first direct Ehiprtifint o! frozen nieat arid onher produce from AustfrtliV., via the Ship Ounal. New Zca-l'nd-via.i EOrofiwbat; thiiiiy represented oil the neciifibii, whichj indeed, was mainly of Aubtralinn interest. Mr W. W^ddel and ffir A. J. lVass (of iViacketrow mid Pease), formetly of Ofcago. l)i>ihj,,so far a<i I could ascertain, tho sols Neto Zeal'ander's who were able to attend. The Tiniarii made rather a bad beginning.by tikirig 146 diiys over the voyage, causint; her insurances to run up tci a premium of 50 per | cent., and herself to ba given up by many as lost: However, the good bid Shaw-Sayill ship | hursen up ad last, aiid hence the. banquet. Me J. K. Bjihel; cliairihan of the Manchester Ship Canal, presided, and B'lijw Ada Crosslej- (the colonial vocalist) fang. The colonies ware well repre'ieuted in the menu part.. I bolieve Mr H. C. Cameron nsgisted to provide some excellent New Zealand mutton «nd lamb, both f.eing greatly appreciated. Mr W. VYeddel, in proposing "Tbe Anstralcsiaii Prdahce. Triidi),". refuarked inter aha that New Zealand, which up to the present had bsen the principal chipper of mrittoD, ihateoh of having her flocks depleted by. her heavy shipments, had steadily increased »h4 inipioved them until to-day they were Jully 50 per cent, more nnkeroua than in fltr Pease, in respending to the foist* predicted a great future for the colonial frozen meat trade. Sir WiistbyPerceval had tbss-nd an apology, as also hsd pther New Zealanders tow ih EogI land. ( It is a "far cry" irom London to I BlahcUeater, arid attendance s's that banquet | virtually meant takiner rip two whole d»ys. Purther; the> occasion was one ouly of indirect iisterest.to New Zealand itself. It is quite certain that the attempt 16 secure a share of the Manchester market for Australian aiid New Zealand frozen meat will be strenuously resisted by tha River Plato importers, who hitherto bivve had it nearly all their own way tbere. They have already shown thtir teeth, 'ihe case ! i?put thus by Messrs.W: Weddel and Co. .— " The Maiiche.it«r iiiarlcet hai eontinned to be unsettled by reason of tht) course of action adopted by River Plate importers, who continus to accept lepa money in Manchester for tbeir gbodii imported through Liverpool than they are prepared lo take for the sime goodn 'ex Liverpool,' the object of this arrangement being to checkmate the buyers of the cargo per Ticoaiu, from Melbourne, which is be-ibg sold comparatively slowly ib the Manchester district at about 2£d* td 2|d per lb. Its quality and condition cbntiuue satisfactory."

This is hardiy fair fighting; bat it shows what bis to be faced by those who endeavour to flout a new tradd. All the vested interests are up in arms at occe, aud prepared to do battle to the bitter end., Still, Ido not doubt that if those interested itt New Zealand riiest can snd will only stsnd to their guns t'aey will be fully nb'e to hold their own in the long ruuj though it may Ibe a loug and tough fight for tha prize, which, tbwever, is well wdrfcti winning. A DIVORCE CASE. . Two ex-residimfcß of N«w ifealand appeared lin the London Divorce Court hint week—viz., Mr and Mrs Stephen BledertnaHn. The wife, Anne Biederinann, was the petitioner. Her husband,, who is a Lohdoti stockbroker, did nob defend the case, and a detrbe 11151 was granted with cotts. Blra Bieo'erminn, who appeared in person; was fashionably dressed, and occupied a Eeat st the solicitors' tablft. When the case was called on, flao. rose aod read but a statement of her case in an iiccent which denoted that She whs of foreign birth. Sic Stated that r.he w*s married to the respondent on August 30,1883, at the pariah church, Kensington, and Shortly afterwards they went to reside in New Zealand, where they remained until 1885, whon they returned to London. She had to complain of hnr husband's annoyance. He told her that they were not legally married, as she was a Catholic and he a Protestant; If tie did hot actively circulate these reports, he did nothing to ftop thorn. She wanted him to have an apology put in the newspapers, but he Baid he was hot goitig to bB mixed up with a lot of womtn'o goseip. He seized her by the throat, and forced her dqwii. Sjihe must have died if the , maid had not. cbnia into the room with coffee, and this mnde him let her go. On tha decree iiisi being granted, Mm

Bicdermann complained that she h»d been j molested by the police aiuco the day her hns- i band left her. Mr Justice Birue.s: "I have ] nothing to do with that." Mrs Biedermann :1, "How enn I stop the molestation ?" Blr f Justice Barr.es: " You had better see ■. your solicitor, and tilke bis advice." il« ! Biadermsna : " What flboat my allowance P" [ Mr Juslica Barnes:, "You had better i go to your solicitor." Mrs BiedermaDni (tanghingly) : " I h»ve doae my case very well, j my Lord."—(Laughter.) She collected her papers and left the court. AN»LO-COLOKIAL NOT2S. Sir George Grey has not been -very well the last day or" two, but seemed better to-day. I think the news of the safe arrival of his niece (Mrs Seymour (Saorge) and h?r daughter cheered him gie»tly. Mrs and Miss Georgo telegraphed that they were unable to leave the Arcadia at Plymouth and come overland from London, but that they were coming on in the Arcadia and should probably be at the docks to-day. Sir.Georj.o is looking forward to their advent with the liveliest and most affectionate anticipation. The very pretty young wife, of Sir George Grey's nephew, the Eirl of Stamford, presided most gracefully on Wednesday at.:the opening of a, bizaar for cbaritp.ble purponett which U being held ■ itt the Holborn Town Hall. Lady Stamford won all he«ti by the charm of her faca arid muhne'r. Sir George Grey was unable to be present. > Mr Ziniau, I understand, sees a .very favourable prospect of carrying to a cncce3!iful issue csrtaia schemes which he has formed for the development of mining property in New Zealand. I believe he does not intend at present to offer the property to the public by startiu j; a cornpauy. He ie, however, forming a bijf syndicate of rbohied nien wibb, tha objects of thoioisghly developing these s<r.->p3rtks, and deaaonstrating their value before piscina; them in th»s market. Raversiuft the uru^.l order of thiDgs he purposes to develop tha property Belt aad float a company later, •phc-n tbe talus is proved beyon^dispute. So hers yon hay« three ehte'rpiriaes all based upou plana of definite operation and practical dsvelopment in pgreeable contrast to tho " wild c>.t :> lirjrlrut'.kings of which «o mMiy, especially in cronasli'in with South African mii'.es, have come into the market and have for the time | dsmoralissd it. This nif-y ba the beginning of i Bimilir opsratiobs. j