ANGLO-COLONIAL NOTES.

Otago Daily Times, Issue 12447, 2 September 1902, Page 6

ANGLO-COLONIAL NOTES.

(Frou Oub Own Correspondent..) LONDON, July 18. "New Zealand," says a London paper, "now so much in the public eye, has scarcely an encouraging balance sheet for the first quarter of the year, or for the total financial year ending 31st March last. Imports and exports aro declining. In exports there hae been a fall of nearly 16 per cent., from £4,586,643 to £3,863,245. These figures, however, give too black an impression. The main fall was in. wool, and were that eliminated the exports of the colony would, show an increase. The labour legislation of this colony, more particularly the compulsory Arbitration Acts, come in for more severe criticism the longer they i'cmaift on the statute books." This week the report of the Union Bank of Australia for the year ending 25th Febniary last has been issued, and the meeting will be held on Monday next. The directors state that after provision for doubtful debts the net profits' amount to £121,213. From this the directors have decided to apply a euin of £25',000 to release a similar eum from the amount at present standing in the balance sheet as a contingent reserve against doubtful debts, thus reducing the amount of this contingent reserve from £126,000 to £100,000, The £25,000 thus released will be restored; to the bank's reserve fund, which will thereby be increased from £875,000 to £900,000. From the balance remaining (£96,213) the directors have resolved to declare a dividend at the rafo of 8 per cent, per annum, equal to £1 per share, which will absorb £60,000, ! wnd leave £36,000 to be carried forward. The. directors regret to report that while the season of the year has passed during which rains are ordinarily looked for in Australia, there has been no alleviation of the drought which has so long prevailed over parts of New South Walee and Queensland. Since the last meeting branches of the bank have been opened at Cohuna and Kyabram, in Victoria, and at Carnarvon and Sir Samuel, in Western Australia, while the branch at Ooolamon, in New , SorMi Wales, has been closed. Again the New Zealand Midland railway ! Mr R. B. Yelverton writes to a city paper thus: "I Understand that New Zealand is desirous of floating a loan in London. would afford a good opportuity for persons who have been deprived of their security in tho above railway -to organise a protest to the oornmittee of the London Stock Exchange against any facilities being permitted for the introduction of such a loan whilo the present unsatisfactory conditions exist. It any share or dcbenture-holdera will communicate with me I will organise an effective opposition." Meat-marking does not seem to have very great interest for British politicians. On Monday tho Grand Committee on Trade made another attempt to forward the Meat Marking (Ireland) Bill. Lord E. Fitzmaurice was in the chair. The measure is objected to as likely to restrict trade in food. A.t the last sitting of the committee it wae maimed, on the motion of Mr T. W. Russell, by "the omission of the clause which provided that all foreign meat, except that from Great Britain, should be marked. Mr Field, who was responsible for the measure, now hoped tn overcome the difficulty by substituting "imported" for "foreign" throughout the bill. He was, however, baulked by the failure of his measure to attract 20 members, the number of a quorum. The attendance ■ was 15, of whom only throe were Nationalists. The chairman suggested that tho committee should adjourn till Thursday, when, according to custom, they were entitled to meet, and should put the Patents Bill before tho present measure. Thus a quorum would be ensured. Mr Galloway replied that the Meat-marking Bill had been referred to the committee first, and to take measures out of their order might be very awkward. Moreover, he hoped that on the present occasion tho wait for a. quorum, would not be long, as some members had to go elsewhere, a remark evidently referring to the meeting of the Conservative party to consider Lord Salisbury s retirement from the Premiership and Mr Balfour'is appointment in'his place. Mr Field suggested that the committee .should reassemble on Wednesday especially to consider the bill. If again a quorum were not obtained he would be prepared to drop the measure. The chairman, pointed out that a meeting which was not a quorum could hardly fix a, special day for assembling. The committso again met on Wednesday, when two bills—the Meat Marking (Ireland) Bill and the Patent Law Amendment; Bjll—were down for consideration. Mr Galloway objected to two bills, being put down-for one day. ,, Mr T. W. Russell said they were already considering the Meat Marking Bill, and he proposed that they should' go on. Mr Tcnnant moved that the committee be adjourned, in consequence of the absence of any member of the Government, but the committee decided to proceed with tho consideration of the Meat j.uarking Bill. On a division being taken the Chairman remarked that the figures proved that a quorum was not present. The committee then adjourned, having sat only a portion of the appointed time. "All British" shipping "combines," in which the Union Steam Ship Company of New Zealand and the Canadian-Australian line are credited with a goodly amount of interest, are still receiving attention. Speaking 011 Monday night at North Shields, at a. Unionist gathering in connection with the opening of a new club, Lord Oharks Beresford referred to the American ehipj'.ing combination. He said the possibilities of the case 'were worse than the probabilities. He believed' that Mr Morgan wanted to get the through route in order : to fight [British shippers. No doubt we could compete so far as shipping went, but we could not compete with their railways— arteries coming to one railhead,—which was the- real danger to our producers. We must look after pur "own selfish interests. He thought it would be wise to help the Canadian route, and also to have a British Empire combination the Atlantic trade. The' Americans had illimitable resources, and could put down millions where we could put down thousands. If we paid bounties, the Americans would double theirs. What he would like to sec would be some arrangement by which we could have two lines for the Atlantic—a British and an American. ~ Evidently tho action of the colonies over ■the recent,. war has stirreu even the Admiralty. At Lloyd's luncheon the centre of discussion was the possession of the ocean aijxl the promotion of ocean-borne commerce. Sir E. Barton again hinted at tho difficulties, as well as the contingent advantages, of" a scheme of preferential trade relations, and paid " a just and generous tribute to Mr Chamberlain's colonial administration in reference to the changes in the Cabinet." An earnest and striking appeal wae made by Lord ■Selborne to the colonies to consider the necessity of upholding our Empire at sea,, and the best means of securing it on a basis of common effort in the future. His speech emphasised the-fact that in matters of Imperial defence there is much which we trust the future to bring about little by little no less than in relations of a political or commercial nature. Again, later in the week, Lord Selborne referred particularly to Australia and New Zealand, and urged that Ausiralians and New Zoalanders should take their place iu the navy. There has been a big "waking up"! . . Lord Selborne was present at a dinner, and replied to the toast of "The Service." He said that in replying for the navy they would know that he was replying for the British navy. It did not mean the navy of England any more than that of New Zealand and Australia, for it was a. nayv which was possessed bv the whole Empire, and to which the Empire contributed. He wanted to sec in the navy more of the men of New Zealand and Australia, who had added lustre to the military annals of the country. The last subject for economy in this country should be the navy; but when he spoke of economy he meant also efficiency, and they should endeavour to get 20s' out of every poun.- in the matter of efficiency. An appeal for the Maori mission is made in the Tablet by Father E. H. Binning, of Tokaanu, Taupo. Many Roman' Catholics, 'he says, can now be counted among the Maoris. '■' Unfortunately, however." he remarks, " our successes have not in a few instances excited the envious jealousy of non-Catholic preachers, and roused into action their violent antipathy. Their endeavours to do our work as much harm as possible find,- alas! a fruitful harvest in the tender hearts of our little ones, of whom some hftve already been alienated from tho true fold of Christ." Some unpleasantness has, I hear, occurred at the Alexandra Park, camp, some of the white troops—including New Zealanders— resenting the treatment of white women by members of the black contingents. The I matter has been kept as quiet as possible, but several men have been confined within the lines..

PRICE OF EGGS. TO THE EDITOS. Sir,— As your sub-leaders and correspondency appearing in your columns liitely regarding the Master Bakers' Association's resolution to pay 7d per dozen for preserving eggs is rather misleading, an explanation may not be out of place. In the majority of cases tire farmer, or egg producer, gets about 5d per dozen for eggs, which the agents sell to the consumer at Bd. Nearly all the eggs are bought from tho producer by the local country storekeeper, who in turn sendg them to the agents to sell to the consumer, so that the consumer has to pay tho profits of two middlemen. Now, the pastrycooks have no desire to beat down the farmer's price, but" do object to pay the profits of two middlemen, especially as the agents treat the pastrycooks so unfairly in comparison to the grocer. A grocer .may buy one case of eggs from an agent," and will bo allowed 50 per cent, discount on all damaged or chipped eggs, while the pastrycook may buy 100 cases at the same price, but is only allowed' discount on such eggs as are damaged so much tliat they are unfit for use, although he cannot preserve a>n egg in lime that is cracked in the slightest degree. In past seasons the pastrycooks themselves have kept up tlie price- of egge for tho benefit of the middlemen by their demand at tho ttiginning of tho season, so as to get the earliest eggs for preserving. This season they have decided not to cut each other's throats, but to take tho eggs as they ooma into the market at a reasonable price. Tour snb-leader of the 28th ult. insinuates that pastrycooks use substitutes for ogg3. Now, we have never used a. substitute for eggs. As a matter of fact, we have never seen or even heard of such a substitute. A colour is made from tho yolk of eggs, but is used for colouring ices, etc.—not as a substitute for eggs. In fact, eggs are as indispensable to the pastrycoolo as flour to tho breadbaker. When the farmer and the pastrycook deal directly with each other both will benefit to the extent of at least Id per dozen on eggs. Hoping this correspondence will show the poultry farmer that he can get a better price and ready cash by selling his eggs to the principal consumer—the pastrycook—instead of swelling the bank balance of the .country storekeeper.—We are, etc., Hopkins and Son. Manse street, September 1. •• .<► TO THE EDITOR. Sir, —Few outside the Master Bakers' Union will regret to see the marked advance in the price of eggs. But why only a penny to twopence advance? Fowl feed is double the price now: why not eggs double the price? Producers have the cards in their owk hands, and all they have to do is simply net to sell. Eggs are not now a perishable thing, as at a payable cost you can preserve them for months. But no preserving is necessary: Sydney will take all our eggs at big prices, and I venture to say that before many days one shilling a dozen will be the ruling price, and at that price, taking: the cost of feed into consideration, it is barely payable.—l am, etc., One Shilling •'