Meetings and Reports.

Otago Witness, Volume 15, Issue 1562, 15 October 1881, Page 11

Meetings and Reports.

The Coming Election.

Captain Baldwin has decided to come forward for Dunedin City East. The declared candidates for Wskatipu are Mr A. C Thomson, of Wanaka ; Mr T. Fargus, of Dunedin j and Mr Alexander M'Bride, of Frankton,

Mr A. de B. Brandon, who retires from politics, has represented Wellington Country district in the Assembly for the past 21 years. We are authorised to state that Mr H. Driver has declined a large requisition to stand for Brace, and will offer himself as a candidate for Hokonui. Mr W. D. Stewart Is still being urged to stand for one of the Dunedin constituencies, and there in, we hear, a probability of his consenting. The Central Temperance Electoral Committee met again on Saturday evening, in the Temperance Hall* The chair was occupied by Mr D. C. Cameron, and about 40 delegates were in attendance. The vigilance committees for the several districts reported progress, and were instructed to wait upon soms of the candidates during the present week. Strong exception was taken to an impression which was reported to he current to the effect that the Committee had promised to Bupport the candidature of Mr John Graham for the Danedin Central district. The secretary was instructed on behalf of the Committee to disclaim any such support having in any way been promised to Mr Graham. Several of the probable candidates have heartily expressed their readiness to Bupport and advocate many of the objects which the Committee have in view* The meeting was adjourned till next Saturday at 8 p.m. An effort is being made to get the Rev. J. U. Davis, who is resigning immaterial work, to stand for Dunedin City East. Mr Davis has all along in this city taken a forward interest in social and political questions, and we are sure his candidature would be well received by many.

Mr W. H. Teschemaker is mentioned for Moeraki. The North Otago Times says that he is on his way out from England, and had, before leaving the Colony, expressed a willingneßS to enter political life. The Timos has this myterioua paragraph also :—": — " Other two candidates will probably come before the public and announce themselves before long— one for iheWaitaki and the other for the MoerakL They have, certainly with some reluctance, consented to enter the field, but we refrain from mentioning their names in the mean* time."

Mr John Reid, of Elderslie ? has received a requisition from 65 persons, principally labouring men, the Oamaru Mail states, to stand for Waitaki

The Hon. E. Richardson addressed the electors of Lyttelton on Friday night, and met with a very favourable reception. After reviewing the events of the past session, he proceeded to comment on the principal questions likely to come before the Houae nex*, session. In reference to local government, he said that he looked on it that all that remained to be done was eitnply to make use of the machinery now in existence , to improvo that bit. by bif, i*ud, wh«ro pnpsih'.p, to dituiuibh tbe m;mbor of memhern of the Howe, insteaii t >f increasing them, and to put iurther pownr into tho hands of the boards at present, existing, and to do away with the constant roferei.ee to Wellington. He considered that hvrge and serious aIU rations were required in the niaupgement of t.ho railway tariff, which was now ia several inaUuces absolutely driving cußtom from the railways. The tariff required great modification, and a board of advice, totally free from political influence, should be established for the general control of our railways. An unpaid board should also be established at different centres, to which the railway employes could appeal if they considered themselves unfairly treated in any matter; Respecting the incidence of taxation, the altertions of the past session was very much in the right direction j bnt more was required to bo done. For instance, taxation should be imposed oa imported goods that could be manufactured here, such taxation to be to an extent calculated to promote the development of local industries. Mr Richardson received a vote of thanks,

Mr Abraham Boardman will probably stand for one of the Auckland constituencieG.

Mr Theophilus Daniel, one of the candidates for Wallace, addressed meetings at Orepuki and Round Hill on Saturday, and received unanimous votes of confidence. He announced himself as a thorough Liberal. A meeting of the Hokonui electors was held at Winton on Monday night, at which Mr Cowan delivered an address. He said he had received requisitions from two portions of the constituency, but was waiting for a more general call before coming forward definitely- His views were liberal and progressive, and if returued he would go to Wellington unpledged to support any Government. He received a vot3 of confidence.

Gobe, October 11th

On the arrival of the express here to-day, Mr Henry Driver was received by w influential

deputation and presented with a requisition, well signed, requesting him to contest the Hoknnui olectoiate. Mr Driver thanked the demrfttiou, and consented to accade to their request. He briefly referred to the attack made upon him by a portion of the Southland Press, promising to refer to it at a future time.

Blueskin Agricultural and Pastoral Association.

The annual general meeting of this Association was held in tho Saratoga House, Blueskin, on Friday. The night being very wet was likely enough the cause of rather a limited attendance*

Mr James Green having been appointed chairman, the minutes of last annual meeting were read and confirmed.

The Chairman stated that he hoped the meeting would consider the business done by the Association during the past year satisfactory. The late show had been a successful one, and the balance in hand he trusted would meet with their approbation, for it was larger than for several years back, and would give heari to those who might be elected on the Committee, There was one matter of importance to attend to— viz., the butter-shed, which would require an expenditure upon it ; yet he trusted thtre would be no difficulty in rawing funds for a new building. He txpio awl a hope that anythiug necessary for tha advancement of the Association would be named at thab meeting.

The Secretary read the following report, which was adopted : —

Your Committee beg to submit the following report for the year just ended. In reporting on the show held last January, your Committee have much pleasure in stating that it was very successful, although there was a falling off in the number of entries ; still the number of exhibitors was equal to the former year, and it will be remembered that that year's report showed a considerable increase in the number of exhibitors over previous years. This will in a great measure account for the falling off in the number of entries— the more competition there is the fewer double entries there will be. Consequently the Association is to some extent working up to the main object for which it was started, and without which no show can be truly called a success—viz., the improvement of stock throughout tho district.

The number of entries last year was 406, and the previous year 472, showing a falling off of 66 entries, viz,, in cattle 48 (principally special and provincial), in horses seven, and the rest a balance between an increase in minor stock and decrease in dairy produce. For the second Ayrshire Derby 13 nominations havo been received.

The Treasurer's balance-sheet will show that financially tho Society is in a good position. In conclusion, your Committee beg to express a hope that the Society will oontinue to succeed as it has done.

The Treasurer read hia balance-sheet, which showed the receipts to have been (including an old balance of L 4 7s) L 147 12a lid, and payments—viz., prizes, oash, goods, and medals, LllO 183 8d : working expenses, Ll7 14a 6d, — leaving a balance of Llß l9 j 91 to credit of the Association.

The Chairman said that the balance-sheet had beon. audited by Messrs W. Pullar and G. Charlton, but preceding their signatures was this note :— " We beg to report having looked over the books, and find the additions are correct ; but with the exception of a few accounts which have been paid in Blueskin and Dunedin for printing, medals, and current expenses, no receipts are produced, the treasurer paying all prizes as most convenient to the prizatakere. We are of opinion that such a course is open to abuse, and as auditors we re-, commend that no moneys be paid without a receipt being obtained. The balance we find to be LlB 19s 9d to the credit of the Society. " This note (the Chairman said) appeared in the books, but not as a recommendation to the Committee. He had looked through the books, and found that the system followed by the treasurer had been in operation for 13 years. In regard to the system recommended to be pursued he had to st.ato that the treasurer paid away prizes wherever he met prizetakers, and so sometimes could not get receipts ; other wise a time and place would have to be fixed for payment, which would inconvenience their honorary officer and prizatakers living at a distance. No objection bad been taken to tho course pursued by former auditors. Prior to the present treasurer holding the office one ot tho auditors had held it, and it would have been in better taate had he tht-n carried out his recommendation. The Committee were in duty bound to relieve their present treasurer of any tin pleasantness in his position, for he believed they had the fullest faith in his honour, honesty, and integrity, which was ttie best check, for dishonest; men could always find a way of escaping from any check thab migat be imposed. He would suspend for a time the ordinary course pursued, and let those present speak freely and fully. Mr Clent moved — "That the balance-sheet be received and adopted." As an auditor he had had great difficulty in getting balancesheets from Mr Charlton. Mr Campbell seconded the motion. Mr Bellis remarked that they should go on as they had been doing. The books wera not kept in a model way when Mr Charlton was treasurer.

Mr Colehan: Who were the auditors in 1873 when Mr Charlton was treasurer ? The Chairman said that the balance-sheet was made up but not signed to this day ; consequently he could not name the auditors. Mr W. Pullab did not think there was any censure passed on the treasurer. If the treasurer had been a stranger he (as auditor) would not have signed the balance-sheet. Mr Quayle had adopted the system recommended to a great extent. He thought the matter would only have come before the Committee. Mr Wilson said Mr Pullar was correct. Mr Quayle kept a store, however, and was thus able to get the signatures of prizatakers. Their present treasurer was differently situ* ated. The Tbbasdber said that no papers bad came into his hands to bhow that Mr Quayle had carried out the course stated by Mr Pullar. The bookß were kept just as Mr Pallar had sigued them before. He would never think of getting receipts from Tom, Dick, or Harry. Mr Clent stated that the books wore all right when he had signed them as auditor. He thought there was an attempt to cuafc a slur on Mr Ferguson. Mr Pullab was sorry that the meeting thought the auditors attempted to say they had not confidence in the treasurer. The motion for receiving and adopting the balance-sheet was carried. Mr Clent moved — " That the recommendation be referred to the incoming committee for their consideration." , Seconded by Mr Campbell, and carried,

OFFICERS,

Mr James Green was reappointed president ; Rev, R- L, Stanford was reappointed vicepresident. . The Secretary handed in his resignation, which was accepted, but he agreed to act until a successor was appointed. He stated that he resigned not on account of any unpleasantness which bad occurred that evening. Sabsequently ha said that he thonght the time h&d come when they Bhould pay their secretary a salary for his trouble. mm 3, Cieut, W. Pullar, J. Bolhs,

B. Johnston, A. Campbell, J. Colehan, J, Clark, P. Wilson, W. Park, J. Sohofield, J. Lindsay, O. M'Donald, J. Marshall, W. Heckler, W. Bell, R. Bentham, J. M'Gregor, J. Downes, D. Pullar, and — . Stockton were appointed the coininUtee for the ensuing year. Messrs J. Clent and J. Perry were appointed The show was fixed to be held on the 13th January, 1882, and tho meeting recommended the Committee to proceed with tbe erection of a new hutter-sh'-d ?.b quickly as possible. The usual vote to the chairman closed the meriting.

Kaitangata Railway and Coal Company.

The sixth annual general meeting of shareholders in the above Conpany was held at the Company* office, Crawford atreet, on Saturday mon,ing, Mr Robert WiIBOB, chairman of directors, xjresidiug. The following raporfc from the directors was takeu as read :—: —

The Directors think that they may fairly congratulate the shareholders on the results of the year as shown in the balance-sheet. The affairs of the Company have progressed so smoothly during the year as to call for no special remarks, except with reference to 'the purchase of the Elliotvale property , of which shareholders have already heard. This property is in respect of quantity, quality of coal, and ease of access, fully equal to the Company's present mines; and, looking to the increasing consumption, the proved suitability of the coal for locomotive purposes, and tho fact that the purchase would remove all serious risks of opposition, the Directors considered that they were consulting the best interests of the shareholders in securing it. As the coal has proved so successful on the railways, the Directors are inclined to think that it might be well to take stepa to open the field at once, if for the purpose of meeting the railway supply only. The Directors will ask the sanction of the shareholders to this course if circumstances appear to warrant it. A considerable portion of the purchase-money has been provided by calling "P £9 per share, the amount unpaid on 580 shares at the date of the last balancesheet, thus obtaining £5220. The Directors consider that this will be ample to provide in this way. The call became payable on the 31st day of August, but the amount thereof will not participate in the dividend recommended. O' tho bilinco standing to credit of profit and loss, the Directors recommend that a dividend at the rate of 10 per cent, per annum be declared, and a bonus of 5s on each share in tho Company. The above dividend and bonus will absorb the sum of £2096 53. The Directors recommend that a further sum of £6000 be carried forward to a general reserve fund, to cover contingencies, &c, and that the balance, £1078 12s 10d, bo carried forward. The Directors ask the sanction of the shareholders to declaring an interim dividend in March next at a rate not exceeding the dividend above recommended. The Chairman, in moving the adoption of the report, said : It is with feelings of great satisfaction that the direotors of this Companymeet the shareholders to-day. The balancesheet in my hands, and wbioh has been distributed among the shareholders, is one which, looked at from every point of view f oannot be considered other than eminently satisfactory. As a result of the year's operations we are able to recommend a dividend equal to 12i per oent., and.canplaoe the large sum of L6OOO to reserve fund, and carry forward to next year's account LlßQo—^ sufficient aum to pay 10 per cent, on the capital. I heartily congratulate the shareholders on the .highly satisfactory position now attained by the Company. Many of the shareholders have stuck to their shares from the very first, and these gentlemen are now reaping their reward. I hope they will still hold to their shares, as I believe the Company has now entered on a career of uninterrupted prosperity which will continue for many years, and that the results of the present year are only a small foretaste of what is to come. Shareholders must not be led away with the idea that the results of this year are altogether exceptional. This is not the case. The directors for the last three years have been working steadily up to the present position. They first of all secured on very eaßy terms the adjoining colliery, and have been able at a small expenditure to combine the economical working of both pits. Daring tho last three years the field haß been thoroughly opened out, and a large body of coal of the very best quality made accessible for working at a minimum of cost;. I may otato that, bo far as actual profits are concerned, the directors could safely have recommended a dividend before this year, but were anxious before cooing bo to get everything connected with the Company on a stabla foundation; and it was thought prudent therefore t,o apply part profits to the opening up of the mine for future uninterrupted working, and alao to reduce tho amounts of ' mining and Vtlant account in the books. This has been done, in fact rather overdone, as the acoounts referred to now stand in the books much under their fair intrinsic value, and no other further sums will be required <:o be written off for a very long time, 1 may mention t^at a gang of men are kept constantly employed on the railway, and every repair necessary is executed at once ; so that there is not the least risk of any large unexpected outlay being ever required for railway muintonance. The railway runß into the centre of a settled district having a large population, and apart from the coal, the traffic yielda a highly satisfactory revenue to the Company. With reference to the Elliotvale purchase, this property will be very valuable to the Company as an adjunct to the Kaitangata property, and the Company have greatly strengthened their position by the purchase in question. The Elliotvale coal, although not such coal as Kaitangata for household purposes, is, if anything, rather better adapted for use on the railway locomotives, and the directors contemplate at an early date working this coal in order to supply the increasing demand for coal for the railway locomotives. I may mention that during the past year we have supplied the Railway Department with a portion of the coal used in thd locomotives, but the entire quantity had been but a comparatively insignificant item of the Company's business. It ie to the household consumption wo look, and as the population of the Colony increases the demand for coal must correspondingly increase, and of all New Zealand coal, there is a growing consensus of opmbn that the Kaifcangata is not only tho moßt pleasant and agreeable to use, but is in the long-run tho most economical-^ I have much pleasure in moviag fcho adoption of the redort and accompanying balance-sheet. In reply to Mr North, it was stated that from L3OO to L4OO a year was derived from the passenger traffic alone of the railway line. It would be too much to expect that the passenger traffic would pay the cost of construction. Mr Allan Holmes said that he had much ploaaura in seconding tho adoption of the report. As things had Gone on so quietly, easily, and smoothly dm-icg the year, the results had been so satisfactory that thero was comparatively littiu for him to say other than to congratulate shareholders on the results obtained. Looking towards tho future, the mopt satisfactory matter was the fact; that the expenses with which the Company had beon previously Baddled in making coftl in the mine were not likely to be further encountered for some time- The mine wan thoroughly opened out, and from the report of tbo engineer and others it seemed that there waa a block of coal out and available for four or five yeaws without any cost for winning it except that oH hewing. Thero seemed to be every prnsppci of the operations of the Company continuing satisfactory. Tho only other matte? to be dualt with was tho purchase of the Elliotvale property. Thi9 had already been

pretty well explained to the shareholders who took sufficient interest in it to make inquiries concerning it. He defended the purchase on the ground that there was a danger of the property—which contained coal of quality equal to that iv the Kaitangata mine— being scoured by another company. So far as he could judge the investment was an exceedingly safe one, and one which under all the circumstances should meet with the shareholders approval. The coal in the Elliotvale property was considerably more suitable for locomotive purposes that that in the present mine- It was proposed to ask for authority sanctioning the purchase, •nd it was supposed shareholders would repose the Bame confidence in the directors in tho exercise of that authority as they had done In answer to Mr North, it was stated that the directors considered tho purchase a good one. They were aware that the property was in the market and could have been purchased three years ago for L6OOO, instead of LIO.OOO as had now been paid for it. When it became known that the Kaitangata Company had been so successful last year a company waa formed to purchase the property, and the Kaitangata mine waa threatened with opposition. The directors therefore considered themselveß quite justified in the purchase. The directors did not think the price too high ; they considered it the best bargain ever made in the interest of the Company. The adoption of the report was then agreed

to. Mr John Mitchell asked if it was not advisable that the meetings should be held half-yearly, and that more publicity should be given them. The Chairman replied that it was proposed to make half-yearly dividends in future, so long as the directors were in a position to declare them, but he did not think it advisable to hold meetings at the end of every six months. He believed that the Company were in a sound position, and he did not think the last year's success a mere flash in the pan. As Mr Holmes had explained, it would not be necessary to spend much money for the next four or five years. He hoped the shareholders would ttick I < their shares. There had been some talk about the directors buying up shares, but this was absolutely false. The Company had been so successful this year that the directors had been a little modesfc, and that was why the balance-sheet had not been advertised. The directors had been careful not to blow their trumpet too loud. ¥t R. S. Gabdineb moved, and Mr S. G. Smith seconded, a resolution to the effect that in future the directors be remunerated at the rate of LI Is per meeting. —Carried. On the motion of Mr Smith, Messrs J. T. Mackerras aud W. J. M. Larnach were elected to the vacancies on the board of directorsMessrs Bartleman and Callender were re. appointed auditors.