ANGLO-COLONIAL NOTES.

Otago Daily Times, Issue 11659, 16 February 1900, Page 6

ANGLO-COLONIAL NOTES.

.- (From Oirn Own ConnEsroNDKjjT.) LONDON, January 5. Among the amounts acknowledged this week by the Lord Mayor of London on behalf of the Transvaal war funds is one for £1200 received from Ohristchurclij New Zealand. Referring to military operations in South Africa, the Broad Arrow says that the British Kmpire is worldwide, " nevertheless our 'officers arc compelled lo study 'European battlefields to the neglect of colonial battlefields. This may bo magnificent, ]n\t it is not common sense, as we are discovering)to our cost at the present moment in South' Africa. If our generals were at least as intimate with the military history of the-American Revolution, the war of 1812-I*, the New Zealand wars, and the various South African wars, as they ore with the military history of the I'oninaiilar campaigns of Wellington, the American Civil War, and the Franco-Prussian war. they would not have so much to learn by dear experience against the Boers." Further, the same writer remarks, " In nNew Zealand tho work which 20,000 regulars failed to accomplish was.successfully done by the colonists and Native allies."

One of the most important subjects brought forward at the annual meeting 'of tho New Zealand and River Plate Land Mortgage Company, ho.d last Tuesday, was that referring to a proposal made by the chairman, to increase tho onpital of the company, and to issue 122,315 new1: shares at £1 each, to be. fully paid up, thereby raising the paid-up capital to £300,000, for' the purpose of extinguishing the liability of £<1- remaining on each share. If agreed to, there was no doubt that tho liability would ba remove,). It was also proposed before long to send out a circular convening a- meeting, to be held in April, for the.purpose of increc.'U'.g the capital. This circular would be accompanied by a report of what took place at (ho meeting of lost' Tuesday. All would be asked to vote on the subject-of the increase. It had hevn decided by the board fo offer tlic now shares to present shareholders at par. The proportion of new for old shares was something over two for every threa held.. . The chair: i:i.j explained that voting for the increase of capital did not entail the slightest) obligation to take any portion of the new. capital. As to the year's business, Mr .Mitcliison, the chairman of the company, said the fact which would attract most attention was the increase of the reserve. Last year, before the meeting, it stood at.£44,839, and at the moating it had been raised to £50,000. This year it stood at £108,353, and the adoption 'of tho report would bring it to .ff1.25,000. The New Zealand attorneys valued the assets there at £44,335; but the directors had deemed it advisable to deduct 20. per cent, from this valuation, therefore placing the New Zealand assets in the balance at the sum of £35,468. This action did not imply any doubt as to the attorneys' valuation, for, ou the contrary, the directors had every confidence in the figures. The deduction had been made because the attorneys had been asked to base their valuation in view of the present condition of nffairs in New Zealand. \

With regard to the River Dale mortgages, Mr Mitchison said that they amounted to £463,619. He had visited Buenos Ayres, and, to the beat of his belief, their mortgages were thoroughly well worth the figure at which they were to be found in the bain nee sheet. The River Plate properties in hand were not overvalued at £11,814. If .the shareholders wished the bank to progress satisfactorily, they must be prepared to carry forward each year a. fair sum out of tho profits. At the end of. his speech the chairman, moved the adoption of the report, the payment of a dividend at the rates of 6 per cent, per annum (on account of which an interim, dividend of 2A per cent, had already been paid), and tho carrying forward of ■ £16,616. to reserve. The motion was seconded by Mr W. K. Graham. Tho only, criticism—and this was of a most friendly nature—was that offered by Dr Drysdiile who thought there was.,,no reason why tho" full value'of the New Zealand assets should not' have been taken, seeing that the colony was now "the most prosperous part of the Queen's dominions." - The report was unanimously agreed to. and Mr Gilibs and Mr L. A. Nathan were re-elected to the board. On Tuesday two exploration companies doin? business" in New Zealand executed tl:o "happy despatch." The first was the United New Zealand" Exploration Company, with intorasts in tho May Queen, New Moanataiuri, and Kauri cold estates, and the other was Melville's New Zealand Corporation,which has a large holding in the Kurumii-Caledonian Company, and was interested in the Jubilee ond other properties. In each, case liquidation was agreed upon, though it is understood that shareholders will retain their interests in the properties named. At the first ordinary meeting of the Mnnaivu Cold Mining Company, the chairman said that 16°wt of ore roughly taken and sent to Profe«sor-Black had assayed 6oz 7dwt lOgr, and further treatment by the permanganate process proved thai assay to be correct. So aFEured were the directors ■of ■ the property that there was not a member of the board who held loss than 30 times his neces^ry qualification. . . Some of. the London papers are giving statistics showing how much New Zealand is in advance of the mother country as regards the

general use of ihe telephone. These statistics show that New Zealand lias sixty telephones to every 10,000 inhabitants, whereas Great Britain and Ireland have only eighteen. The only countries ahead of New Zealand in this respect are Sweden, with Hi telephones per 10.0UO inhabitants; United States, with 101; Norway, with 97; Switzerland, with 93; and Canada, with 67. Germany, with 29, is behind New Zealand, hut ahead'of Great Britain: Switzerland, with 16, Belgium, with 11, are slightly behind Great Britain, ami Austria. (9), France (7), Spain (6), Italy W, and Russia (2) are practically nowhere in comparison. Dr Kdmond Hobhouse has brought but a medical handbook of travel entitled " Health Abroad," in which he deals with the curative and other merits of New Zealand, amon? other British colonies.

The Agent-general for New Zealand writes to The Times as follows;—" Amongst the cable messages of Christmas morning was one mentioning that the chiklreit of a school in Canterbury had forgone their annual, treat in order to hand over the money it would have cost (£2O) to the colony's patriotic fund. I hare had the pleasure of receiving a letter from an English gentleman, who writes that he had rend ,yom- telegram,.and that, as he did not wish the children to lose their treat, he bogged to enclose £20 to replace the sum so patriotically given up by them. Tim generous "donor, I regret to say, stipulates that Ins name'shall not bo made public; but I trust ( that you, Sir, will grant me space to give publicity to his very kind and graceful act. The money has been telegraphed to the colony, where the spirit of the 'gift will, I.i'Ji sure, be' appreciated by all sorts and conditions of New Zcalanders/' , • _. : In acknowledging, on ■■ behalf .of his. Government and the people of Now Zealand, the donation of £500 from the Kipling poem fund, Mr W. P. Reeves, writes as follows to-the Daily Mail :-r-" I desire to add. that this, donation is all the more gratifying, as it is accompanied by a generous and kindly recognition of the part which New.Zealand is taking, in common with the oilier- colonies of tue Empire, in endeavouring, so^ far as possible, to assist tlie mother country."

Messrs Armstrong,-of Elswick, are pushing on the preparation of the battery of Hotchkiss guns for the New Zealand contingent, and expect to have it ready by the third weak of this month, when the guns will be shipped to South Africa, to meet, the second contingent from the colony.

13v F. W. Penncfnther called on me yesterday to say cjood-bye, and has sailed for New Zealand in the b.s. Waimate. He lias been suffering much from influenza and its after effects since it lms unhappily become cpidemio in.England, and was recommended by In's medical adviser to seek immediate change of air, and, if possible, to take a long sea voyage. So the ex-judge has decided to lake another run out to New Zealand and back. He lias some private business also in New Zealand which he desires to settle personally, and liis present intention is to return to Knglaud by May next, unlesa'any unforeseen circumstances should cause him to remain longer in tl>e colony toward which his inclinations always seem to tend. Tins week Lieutenants Wall and l'ilkington, of the New Zealand Defence Force, who came Home some months ugo for training with the Imperial troops, have boon appointed extra officers to the colony's second contingent. They sail fov Sou Hi Africa about the mid of Ibis week.

In a. list of heiH-at-law/legfttees, and missing relatives, I see that Thomas R. «T. Smith, who left England'for New Zealand, in 1874-, is sought for. "\ '.'-."■

Mrs and Miss Bartleman left London on Sunday last for "Paris,. and had a beautifully fine and- calm 'crossing from Dover to Calais. They, write tome that they had a very pleasant time in Paris. On Thumlay morning they were to leave by the night train for Basle, whence they, go to Lucerne, Como, Milan, Venice, Florence, Pisa, Rome, and finally, Genoa, where they join the German steamer Burbarossa for. ttsir voyage to Australia on their way back to Now Zealand.

Speaking at the opening of anew tfrill hall and military headquarters, in Salford, "Manchester, Colonel Lces-Kiiowks, JI.P. for Salford, quoted Iho following verse from the "Canterbury Rhymes," New Zealand: —

Oh, brothers! our race has a ■time-honoured story. With pride we look back on tho days that are Before us Hope holds, in a hnlo of glory, The map of the future, aiid beckons us on. The apt quotation was received with such tremendous enthusiasm and thunder of applause, as would have rejoiced, the liprvV of the New Zealand author, could he have been present.

"A circular has been issued to tho. shareholders of the United Now Zealand Exploration;" says To-clav. "which must have been the _ cause of great disappointment. Notice is given oE an extraordinary general meeting, to be hold on January 2. for the purpose of winding up tho company, and distributing the assets. The assets consist of about two shillings par share in cash, besides shares in the May Queen, Moanataiari, and Kauri Freehold estates. The directors state that most of the properties prospected and partially developed have not proved sufficiently valuable, an experience which has been shared by the other exploration companies operating in New. Zealand. ■ This is a statement; which requires modification. That there are good mines in New Zealand is proved by the "Waihi and the Progress mines, and ihat exploration companies may he successful is demonstrated by the Consolidated -Goldfields of New Zealand. But evidently tho United New Zealand Exploration has found nothing worth' having, and it is to be hoped that the three mines (scrip of which, shareholders receive) will not ulso^ turn out valueless. In any case, tho liquidation will bo very unfavourable. To receive two shillings and some fractional scrip in unproved mines for a share which, on the strength of tho names of the directors, sold at over £2 5s n. short time ago, is at best a grievous disappointment."