OUR LONDON LETTER.

Otago Witness, Issue 2251, 22 April 1897, Page 53

OUR LONDON LETTER.

• i (Fiiom Our Own Couhespondent.) London, February 5. HECOHD HEIGN CELKBHATIONS. Hopes a r e genefally expressed that New Zealand will be fully represented at the Queen's sixty years' celebration iv June (idiotically misnamed her "Diamond Jubilee") in accordance withMr Chamberlain's invitation. It is extremely desirable from many points of view that New Zealand should be well to the front in this movement. Not only is the occa'ion absolutely uuique, but so also is the opportunity which would be thus afforded for a, general meeting of leading colonial representatives, and for conlerences and consultations which cannot fail to be useful. Moreover, the great desirableness of colonial Ministers being personally in touch with London has long been urged, and has been recognised by all who are capable of forming a just judgment. Indeed, it has ofcen been said to me sinc9 I have been in England that there ought to be a rale absolute for every New Zealand Prime Minister and Colonial Treasurer to visit England a< goon as possible after his appointment. Such a rule would be a very wholi some one. I may say that it is looked upon here as an absolute certainty that the official representatives who m»y come Home from the colonies on this occasion will not be sent empty away in re-pect of honours. Knigh* hoods for all the colonial Premiers may, I think, safely be counted uoon, and I believe that C.M.G's. will be freely dispensed. Also, I understand that one or two colonial inabilities maybe appointed to the Privy Council. But I fancy this honour will not come in the way of New Zealand. THE BANK OF NEW ZEALAND. Prominent attention is being called in Loadon to the statement made by the Hon. John M'Kenzie, Minister for Lands, in a speech at G raldine. It will be remembered that Mr M'Kenzie said that the Ministerial candidate, Mr Flatman, had had to fight agaiusb the strong influence of the Bank of New Zealaud, and that "if the bank people were going into politics the bank might have to go into liquidation very soon." People are askiug what that sinister and significant utterance really meant — whether it was merely the "harebrained chatter of irresponsible frivolity" or whether it implied any new and startling developments in connection with the bank. On this head I hear a diversity of opinions. Nobody connected with the bank has the least idea to what Mr M'Kenzie referred, but everybody outside the bank is of one opinion &s to the character of the Ministerial utterance — that is to say, there is a consensus of opinion that, whatever the facts might be, Sir M'Kenzie's remark was a mosb unwise and improper one. WEST AUSTHALIAN LOAN. In view of the possibility that New Zealand may yet come into the London market as a borrower before long, notwithstanding* the alleged fact that the previous half-million loan floated in the colony was mostly taken up by the Bank of New Zealand — or, in other words,

that a cross-entry was made in the books of that institution, — I have made a good many inquiries about the tremendous fiasco of the West Australian loan. In conversation with a ! leading London banker, he remarked to me i that, apart from the question of underwriting, I the failure was mainly due to the preposterously j high minimum that was fixed* "At the time , the loan was offered," he said, •• the market price of Westralian stock was 99 — 101, giving ' an average price of 100. Now the minimum ■of the new loau was fixed at 98 This left a margin of only 2 per cent to come and go upon. But the big moneyed syndicates which alone take up these loans to any great extent, and upon which their success largely depends, will never touch anything that does not leave a margin of at least 3 per cent. If instead of making the minimum 98 it had been made 96, there is almost a certiin'y that the loan would not only have been taken up, but would have fetched an average of something like 98, because in that c*se the applicants would have bid as high as ;hey could for the sake of not missing it. The loan thus failed through sheer want of judgment and blundering, and c o would any New Zealand loan in the Bams circumstances " ANGLO-COLONIAL NOTES. The Agent-general Jeffc tor Scotland yestor- ' day, his destination being Glasgow. His programme wv.g to interview the Glasgow Dork Committee with reference r,o further facilities being afforded for the produce trade and for the cold storage of produce, to meet the p-incipal Glasgow firms concerned in the produce trade, n.r.d to deliver a kclure upon New Zealand. Mr Reeves returns to towu tomorrow night. A few days ago the Ageut-gniTa l , Mr George Jameson, and Mr T Mackenzie paid n. visit by invitation to Lord Wmchilbca's depot for English farm produce with the view of seeing how its bu*ineßs was couducteJ, so that it' the method employed should prove bn bo of a superior ch&racfcer a Jess on might be learned with profit to the New Zealand trade. How- ' nver, while the three New Zealand visitor*. ' found everything very clean and orderly and well conducted, they do iiot appear to ua\e picked up any new and brilliant ideas or usetnl j wrinkles. Lord Penrhyn'fl dispute with hid slat°. workers has brought the labour legislation o ( New Zealand once more into prominence. ( jord P'jnrhyn'n msu have struck for certain concessions. He explains that if he should grant these ho would not be able to keep his quarry open, except at a loss. The men still stand owl, <*ud >"j be has cloif * »'"c /uarry, declining to accent the arbitration or suterveution ot" tho Board of Trade on the ground that he cannot fftcoguis 1 ! any intermediary between employer ar.'.x employed. This uaturaily has affo-dt-ii a good toxt for those who dcs'irn to see courts of conciliation established on Ibft sains principle as. those now in force in Now Zealand. Afcteai. lii is pointedly called t,o the satisfactory woikhitf of these courts under the presidency of a judjja of the Suprtmr Court, and the opinion i* expressed that the success of the New Zealand courts of conciliation nob only will probably lead to a revision of the labour laws iv other i colonies, but will help the movement forward j greatly in the mother country. i Mr WP. Reeves attended the annual banquet ' at the Cholmondeley Masouic Lodg", aod dej livered one of hia usual very felicitou3 post 1 prandial speeches. <? ( Dr F. W. Pennefather delivered a lecture on ■ New Zealand at the Stanhope Institute, in Stanhope street, last Monday evening. Dr Pennefather is an admirable lecturer, his dis- • courses being bright aud humorous, as well aB , eloquently descriptive and solidly instructive The lecture was illustrated with a large number of excellent limelight views of New Zealand scenery. Mr V. D. Scobie Mackenzie goes to Edinburgh to-day to enter upon a course of medical studies at th" Edinburgh University. Quite a number of New Zealanders and other gentlemen interested iv the colon} assembled yesterday afternoon at the Fenchurch street terminus to bid farewell to Mr George Jameson, who had finally decided to leave for New Zealand by the s.s. Tongariro instead of going by the P. and O. route. He assuredly carrien away with him to the colony the heartiest good withes of a large circle of London people. , Another passenger who left for New Zealand > by the Tongariro was Miss Lizzie Blacke, of Duntdin, who has been studying in London for some time past, aud who was making excellent progrecs in the vocal art. I regret very much to say that Mixs Blacke completely broke down in health under the rigour ot even a comparatively mild ISuglish winter, and although ihe was much better at the time of her departure she naturally felt that her experience of one winter augured very ill for what might happen [to her in n season of real severity. So alter struggling bravely for a time she came to the conclusion that it was wiser to, return to the j more genial climate of New Zealand. Several ! New Zealaud friends went down with her to ! the steamer to see her off and to say good-bye. A few days ago the London manager of the Bank of New Zealand experienced a disagreeable and even painful surprise. A visitor who had aiked to see him on being admitted to his ' sanctum, announced that he was a detective officer and held a warrant for the trrcst of one ', of the bank clerks on a grave charge of forgecy. The intimation, came as quite a shock to Mr Tegetmeier, for the clerk in questiou (Me Llj'wllyn H. Turner) had been three years in the bank and had been regarded as a young mau of excellent character and thorough steadiness. He was much liked, and bad every prospect of promotion. Turner is very .well connected, his uncle being a baronet and most cf his friends in good positions. Before he joined the staff of the bank be occupied a post in the office of oue of the bank's customers, and came highly recommended, his subsequent official conduct thoroughly bearing out hia recommendations. I may state here that his defalcatious were in no way connected with the Bank of New Zealand. His forgeries were on an intimate personal friend, Mr Kuyftou, a 1 Somersatshire gentleman. Mr Kojfton wxs ' very well off, and was of a generous character, evidently cariDg little about monoy. Appaparently Turner diHCovered that his friend seldom looked at his bank pas3-b iok, sometimes hardly irom oue year's cud fco the other, and so he drew a series of forged cheques to the total amount of £642 without his friend noticing the extent to which he had been robbed. The cheques were drawn on the Wilti and Dorset Biuk, so that practically the Bank of New Zealand itself was totally unconnected with the affair except through the fact of the accused being in its service. He was courting a very charming young lady, and apparently was led away by an irresistible desire to indulge her with various luxuries and all sorts cf costly treats, and in this way the money seem* fco have . gone. What makes the casa even sadder is that I his wedding with this young lady took place | the very day before the arrest, aud tho domestic scenes which followed were necessarily painful in tho highest degree. On hi* being arrested, Turner was taken straight from the bank to the Lord Mayor's Court at the Mansion House just opposite, and evidence having been given of the . facts, he was committed for trial. 1 Mr F*ithfull Bs 22,2 2, M.P. for St. Rollox,

i formerly of DunediLi, has awoke to find himself famous. Perhaps the strongest proof that can be adduced of a man's London fame is his having been caricatured either in Punch or by Mr F. C. Gould in the Westminster Gazette, To this honour Mr Faithf ull Begg has attaiued. Mr Gould presents him in last night's Gazette as a faithful pet dog, with a very good-lookinjj human head, the dog being depicted sitting up in the supplicatory attitude familiarly known as" " begging." The picbure is entitled " Faibhfull j Beg (mint;)." This, of course, is in relation tc ' Mr Begg's eloquent appeal on behalf of the Women's Franchise Bill in the House of Com* ' mons of Wednesday. I February 20. THK SHIPPING COMPANIES AND OTAGO HARBOUR. With reference lo th 1 ) action of rho variour shipping; companies trading to New Zealand in connection with the port of Dunedin, I hay« communicated with the principal authorities here at headquarters. I find there is no probability whatever of their agreeing even to delay putting into operation the decisiou whicb they have alreidy intimated to the O ago Harbour Board — uamelv. that iv consequence of the silting up of the channel between Port j Chalmers and Dunedin they will no longer I undertake to deliver cargo beyond Porfc Chal-

i The London managers of both the priucipa! shipping companies— the New Zealand Shipping Company <tnn tho Hhaw, Savill, diiii Aibio". Company — wore very emphatic on this point, they declared that '.!;cy had given araplf warning to the Ofc.<go Harbour authoritios thah they couli'. no loug.ir take their ships up .lo Dunerihi unless the ohanuol were deepened, aud that they could not hold themnelve'? chargeable for the cost cf cotiveyirig Koorls forward between those points. They say that their representations hay« so Ur produced uothing but inquests for delay, and tho.se they hive coricvdsd up to the extent ti>>y ftel justified in going." Therefore, fcho decision at which they had jointly arrived ab would have to lake ict> course, and they will only receive r.E.rgo for Port Chalmers, leaving tho personb conneruen to make their own arraiig'icucnta for lbs being forwarded to Duuedin. An for the promise of the Harbour Board to deesxui the chaunel, they say thafc when this shall ba done they will, of course, be quite ready lo recottsider fhe matter, but they are not dispcseci any longer f<> submit; to a loss, which iv ouo of fche compsuif:s alo:io amounts to £2000 « your, while ihe Harbour Board is making up its miod what to do and whether cr col- t:> -Jo it. »r is, perhaps, just as wb!l thai, {he vesolnto attitudftakeu up by fue companies ftt this oi-'d should ' be thoroughly well und«rslo.-.d in Duuecliu. ; ANUt.O COLONIAL jN'OTjJOS. The opiniou i/» geuerally txp.-fl-sad by (he London aociely papers that Lor-! aud Lady 'Wfcpgow, who -.in.' uo"p on their vmv K-.>me, '• -will behold their uatm* chores kiLU more than ordinary joy," and if. iq further remr.rkecl '■t.QAt cmiog ihaic stay in New ZeaiaiKl \,hey 'vev.-e Lot very lucky." If, is reported that IWd Gi.-isg.jw V7/H be created v Bxkqu cf the Ui'iccd Kingdom iv order ti> giva him a aeafc in fcue House 'A Lords, trhich h« does aofc fcold by virtue oi lus Scottish caildom. I Since h'B alrej.ci from Great Britain— during , his New Z'-nitxml Governorship— Jio b&s misßeti two elections ol idpr.;aentat:ve oeer* '\f Scotland, w-ien L.i ru.ghfc possibly is-vv* booa choson for a sc»fc m tho Uppi.-sr Home, aod ib is I remarked that ho is "100 old *,o <v*ii, tav tin next " A. New Zealand iMse of ftoraswhal 1 o rj _■» s^ft'.niing i-aui« before the Juiiuiial Oomrtiittrfe of the Privy Council n, few days ago. The crsbs is Eccles and another versus Mills nud others. Id was an appeai from a judgment nf rh* P.iurb uf Appeal of New Zeah;.cl of June £9, ic)9s, dismissing thtt appeal ot' the ajjpoJUaatn agafftat oa much of the judjmests of this 'Supresnc Oourh of New Zealand in 'he ftctioc p.a rnlafcsd to certain lands in Ofcago, iv *<h<t colony known as tbe Me&rtowbank csUfc-.\ 't'be question was whether certain euiaj pnul by tha executors of fcbo will of John Jone B . (deceased), in respect of v breach of ooveuaut iv a {ua-ns in relation to the Meadowbank est:ito, were charged upon, and should be raised and paid out of the ' estate, which w»b devise.d by the will ot t.Uo testator and was now vested in thfl appellants, ) Ecole"*'* trustees. By a lease dated September i 2, 1868, the testator leased fhe Meadowb&uk estate to Mr (now Sir) Francia Dillon Bell foi the term of 14 years from, September 1, 1868. The lease contained a covenant by which the testator undertook that he (tho testator), his heirs and assigns, should at his or their or"D expense, on or before September 1, 1869, completely fiuish laying down in good English grass, and in acordance with the rules of good huabaudry, the 1000 acres of the demised laud which tbe testator had already commenced laying down iv English grass. There was a breach of that covenant, and it was in respect of that breach that the executors of the will of the testator paid the sums. The testator died on March 16, 1869. The argument of the case 1 is still proceeding. The formal announcement has just appeared in the columns of the Morning Po&t to the effect that a marriage has been arranged between Mi John Studbolme, of Coldstrpam, Canterbury, New Zealand, eldest son or Mr John Studholme, of Merivale, Canterbury, and Miss Alexandra Thomson, fourth daughter of th% late Archbishop of York. Mr Studholme, who has been in England for some time past, has been devoting himself earnestly to caurcb work. The Agent-general for New Zealand has had au interview with the Secretary of Skat** for the Colonies with reference to the death of Sir John Thurston and the position of his widow. Lady Thurston. It seems that at present, in the event of a colonial Governor dying duriog his term of office, no provision whatever exists for the payment of any pension to his widow. This is felt to be a serious hardehip. and ib was brought very forcibly under Mr Chamberlain's notica by Mr Reeves, Mr Chamberlain promised to give the matter his careful consideration. The Misses Siefwrighfc arc giving a large " At Home " this afternoon in their rooms at Templeton place, Kensington, and there seem* likely to be a big "crash." Miss Therese Sievwrigbt continues to make gratifying progress as a London vocalist She sang recently at a large reception in Park lane given by Mra-lbbotson s.nd had a great success. Sha wa^reatly applauded at the time, and subsequently received a charming letter from th« ho3tess expressing the great pleasure which had been given fco her guests by Miss Siev* wright'a "delightful singing." She also sang at a matinee at Hyde Park- Court with similar success, and han engagements for concerts at Pubney and Henley, beside one for another fashionable " At Home."