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Poverty Bay Herald. PUBLISHED EVERY EVENING. GISBORNE, SATURDAY, JULY 5 1902. BANK OF NEW ZEALAND.

The shareholders, of the Bank of New Zealand, and not alone them but the people of the colony, are to be congratulated upon the satisfactory balance-sheet that has been prepared for submission to the annual meeting on August Ist. The finances of a banking institution, and especially of one having so extensive a business as the Bank of New Zealand, are .largely an indicatoin of the state of prosperity of the colony, and. we may Lake it that the fact that the Bank statistics 'show a successful . year is evidence that the affairs of the colony are flourishing. As everybody knows, the Bank .suffered severely in the period of depression that some years ago swept over Australasia, and it has required the exercise uf much careful management to build up its finances and put it on the highway of prosperity. There can be little doubt iiom the statement before us that the corner leading into that highway has been turned at last. Perhaps the most satisfactory indication that the shareholders ii'ill receive of the prosperity of the Bank is the intimation that the directors have reserved £21,366 of the profits for the year to be paid as a dividend upon the .dia/e capital (£427,319) at the rate of five per cent. The proprietors iiave had to lorego for some years this pleasing return on their investments, but" the directors evidently feel satisfied that the time .ias now arrived when they are justified in declaring dividends, and no doubt we shall have a statement from the Chairman >f Directors on the point at the annual necting. Turning to the balance-sheet, wo find i lie gross profits for the year amounted to £459,557, as against £469,291 in the previous year, and £379,331 for the year •nded 31st March, 1899. The expenses of management for the past year amounted to £170,055, as against £169,045 for 1901. The net profits for the past year sinount to £289,501, to which must be idded £50,000 balance from the previous year, but out of this has to be deducted ihe fixed charge of £80,000 interest on :he guaranteed stock* and £50,000 payable ■m the Assets Board in terms of the Bankng Act, leaving £209,501, which, excepting as to a net balance remaining ivailable of £172,501, has been disposed if as follows : —A.mount written off Bank jf New Zealand Estates Company, Ltd., in liquidation, £22,000.; Bank property md premises, £8493 ; Colonial Bank property, £5000; furniture account, £1506. t'lie £172,501 the directors propose should be disposed of as follows:—Statutory pay - ■.nent to Assets Realisation Board, B50,000; dividend at the rate of 5 per .■ent. on share capital, £21,366; leaving ■ i surplus to be paid over to the Assets Realisation Board of £101,135. This iatter payment, which will be made in the terms of clause 11 of the Bank of New Zealand and Banking Act, 1895, should ;reatly strengthen the position of the Bank and establish the interests of the shareholders. To show the extent of the Bank's business, the capital, including the two millions 4 per cent, guaranteed stock, ■s stated at £2,427,319, the notes in circulation £759,464, bills payable £585,067, aid deposits have topped ten millions, beimj £10,016,638. Against these items of liability, coin and cash balances are held '.o the extent of £1,375,918, bullion on hand and in transit £112,143, money at jail. Government securities, etc., amount to £3,608,970, investments in the colo.iies total £2,225,684, bills discounted £1,695,147, other advances and securities £4,441,986, landed property and premises are valued at £356,628, "Estates Company's assets in liquidation £252,254, and Colonial Bank property £30,277. With regard to the future, it is suggested in the Wellington papers that consequent on the payment of £100,000 in reduction) of the Assets Board liability, Parliament should now enable those who are controlling the institution to call up the reserve liability on the shares, amounting approximately' to £430,000, and allow of a reduction of the State guaranteed stock by one-half. Such a course would vitalise the capital and uncalled capital of the Bank of New Zealand, and while strengthening the Bank's position, would relieve the country of a proportion of its liability when an "extension of its guarantee was asked for as from 1904.

Acceptances and entries for the Gisborne Racing Club's steeplechase meetingclose to-night. News has been received from Honolulu of the death of Mis James Waldvogel, a former much respected, resident of Kaiti. Mr Harry Pliinmer (brother of Mr Harcus Plimmer) has been engaged by Mr Williamson to create the main part in Australia in Sir Conan Doyle's great play "Sherlock Holmes." Mr J. W. Cargill is to be succeeded at Grcyniouth by Mr Eraser, from the Lyttelton oflice of the Union Company. Mr Puil'lctt the Niipier ■ manager, has resigned from the service. A line of 230 fat sheep shipped in the south for the Sydney market were aboard the k.s. Elingamite passing here this morning. A further consignment is being shipped at Auckland. The morning train was well, patronised to-day. Some fifty-two passengers embarked at OniKind, including a number who had come in by coach from Karaka, seven at Waihirere". eleven at Maltauri, nine at Makaraka, and one at the racecourse. .This evening's train is expected to bring in a number of country residents. At a meeting of the Poultry Show Committee last evening it was stated that the special prize list was larger this year than it has hitherto been, and the hope wax expressed that, the number of entries would bear a, proportionate increase. The Show takes place, next Friday and Saturday, and entries close this evening. Mr W. Morgan has had many representations made to him from local school committees, asking that he should allow himself to be nominated for election to the Education Board, but he finds himself unable to devote the time that would be necessary to the discharge of his duties, and luis reluctantly declined. This is much to be regretted as-there is no one who would more worthily represent this district at Napier than Mr Morgan, who has the interests of education in this district so sincerely at heart.

At a meeting of Holy Trinity Church vestry last evening the. resignation of Mr H. IK Parker; choirmaster, was'received. The Gisborne Rinkiug Club hold their next evening on Wednesday, instead of Thursday next, as formerly arranged. Fine weather was reported from all parts of the colony this morning. There was a moderate sea at Castlepoint, rough at Caj>e Campbell, smooth elsewhere. The Loan and Mercantile Agency Company announce a clearing sale to be held at Mr E. W. Wells' farm, Patutahi Valley, on July 23rd. The planting season being at hand, Messrs Williams and Kettle advertise that they have a full stock of seeds and garden requisites, and also for the bushfelling season every requirement of a, bush camp. The s.s. Waikare, from Fiji, was signalled at Auckland at 1 o'clock this afternoon, and will connect with the Tarawera, so that the Gisborne excursionists may be expected home to-morrow afternoon. Captain Bruce Beale, of the Ninth Contingent, in. a letter to a friend at P^lmei'ston North, says much of the country through which he p;issed in a recent "trek" is equal to Muna.wa.bu. Wesley Church pulpit is to be supplied in the morning on Sunday by Mr A. V. Wilkinson. In the evening Rev. B. F. Rothwell will preach on "The Impatience of Mrs Job." Anthem, "They that Trust." • At the Wellington Poultry Show yesterday,- Canon Webb won first prize for black Hamburg hens, first and second for brahmas, and Mr R. Nock, of Gisborne, two firsts and two seconds for Wyandottes and three for Orpingtons. We have received from Mr Todd, baker, of Gladstone road, a sample of the Bermaline bread (Montgomery's patent), which he is making. It is a sweet and tasty article, and is specially adapted for people troubled with indigestion, being easily assimilated. A further consignment of 1200 cases of tinned meats will be forwarded by the Gisborne Sheepfarmers' Company by the Tarawera to-morrow. This is the second consignment of an order for 5000 cases for the South African market. The local racehorses Mataroa, Wilson, The Gryphon, A.8.N., and Cronje arrived this morning from Napier, where they have been competing, to fulfil their engagements at the Park .steeplechase meeting next week. ' Muskctoou also camejby the Elingamite. Mr Tom Dent, late, of Napier, the well-known cricketer, who. has been tninsffrred to the Sydney branch of the Bank of New South Wales, passed through Gisborne to-day by the Elingamite. Mr Dent, was onshore for a, few hours renewing acquaintanceship with cricketing friends in Gisborne;. Mr W. A. Barton, S.M., leaves for Wiiiroii on Monday to preside over the Assessment Court, sitting there on Wednesday to deal with objections to Govciimicitf valuations. Messrs. Campbell (dtputy-Valuer-General) and Simson (Government Valuer) also leave on»Monday to attend the Wairoa sitting. Among the outward passengers by the Elingamite this morning w.ere three wellknown Gisborne people, who were bound For .widely-separated portions of the earth. These were Mrs Dods and her. son, Mr J. Dods, who are en route to Vancouver ; ,md Mr J. Brosnahan, who is on his w,iy to take, up a lucrative appointment in. thi-.t extended field for British enterprise, South Africa. Messrs Common, Shelton and Co. report : —-'Owing to the continued wet weather the entries at our stock sale on Thursday were small, and of indifferent quality. Cattle were in fair demand, but sheep were dull of sale. Prices l-ealised were : Two aud a-half-year-old steers £4 10s, 20-montli-steers £2 16s, 20-month heifers £3 6s, cows (inferior) £3 7s, fullmouthed ewes 5s 4d." Sergeant Siddells received information from the Wairoa police last evening tlm.t one Native had shot another at the M;Chia on Thursday evening. The affair is reported to have been quite accidental. The shooting occurred at four o'clock in the afternoon, and the victim lingered for three hours, when he succumbed to theinjuries. Arrangements were made lor holding an inquest, which will be conducted by the Wairoa, police, the fatality having occurred in their district. The Rev. 'F. W. Chatterton, at the request of the local branch of the-Gleaners' Union, has consented to give, on Thursday next, at Trinity schoolroom, some account of our new allies, the Japanese, which he will illustrate with lantern views obtaiui'd on ,a visit to Japan a few years ago. He w ill speak especially on the religions of the Japanese and the responsibility of Christian England to her new ally. The views will illustrate the scenery, customs, and buildings of the country. The Waiapu Licensing Bench, met at noon to-day, when there were present": Mr Barton, S.M. (chairman), and Messrs Wallis and Hepburn. Leave of absence was granted to J. S. Cooper, Nuhaka Hot Springs! Hotel, to August Ist, his xon, James Cooper, to take charge in the meantime. Conditional licenses were granted to Robert Craill, outside publican's booth, and J. H. Aislabie, inside booth, for the Gisborne Park steeplechase meeting on July 10th and 11th ; also, to J. H. Aislabie, Matawhcro salevards, on July; 24th. Sympathy was expressed at the meeting of the Gisborne School Committee with Mr G. Humphreys (one of the members), who met with a distressing accident to his eye last week. The Secretary (Mr W. J. Qiugley) stated that he had been informed that the sight of .one eye had been lost, although the doctor had expressed tho hope that it might' return in the course of ii year or two. On the motion of Mr Hookey, it was decided to forward a resolution expressive of the Committee's sympathy with Mr Humphreys hi his affliction. Joseph liighum was convicted of drunkenness at the Police Court this morning, before Mr Barton, S.M., and fined 10s, costs 2s, in default 24 hours. He was further charged with committing «n act of indecency in Gladstone road hist, evening. Constable Crawford gave evidence to the effect that the offence was committed about 10 o'clock last evening, accused being under the influence r>f drink. Accused asked the Court to deal leniently with him, it being his first offence. His Worship said some punishment was necessary. Accused would be sentenced to tb hours imprisonment, to commence at the expiration of his former sentence. At a meeting of the Hawke's Bay Metropolitan Jockey Club, on Thursday, a letter was read from the secretary of the Poverty Bay Turf Club, explaining the position with regard to the unregistered meeting held at Karaka, and it was resolved that the disqualification be removed Iron, those gentlemen riders and their., horses who had taken part in the iumii-' ing events at Karaka. The foilowiiT,hccuses T w (! re granted :—Trainer : R Bnune. Jockeys : Harold Julian, J. Pter- ;lson. Gentlemen Riders: J. B. A'Deane A. Zachariah, W. O'Reilly, Dan Barry Dugald M'Kenzie, Alexander M'Kenzie Edward Williams. The Committee of.the Druids' annual social hold a meeting to-night, to make final arrangements for celebrating their anniversary an Thursday next (steeplechase night). The reunion promises to be quite as successful as in former years, and we are informed that preparations .ue being made for over a hundred couples lhe Committee have decided, in order to prevent the rush at supper time to issue to each gentleman on entering the hall a colored piece of ribbon, and ballot of the different colors will take place in front of the assemblage The •sucessful colors will be announced, and the gentlemen holding the respective colors will take their partners into supper in the order in which they are drawn. After the skating which has been held in the Iheatre Royal of late, the floor should SjuIfSSiirilllforilietriMiiiieoftlie! A movement which has for its laudable object the erection of a suitable monument to Captain Cook to distinguish this, his first landing place in the colony, is I meeting with the support it deserves 4 meeting of those interested was held at the Cosmopolitan Club rooms last evening. The Rev. H. Williams presided, and dwelt on the oversight committed in not erecting a memorial to the great navigator in the past. There was not in tho colony a memorial to Captain Cook, although he might say that the question was one of importance to Gisborne and the colony, and to the British Empire at large He thought they should go slowly and erect a worthy monument while they were about it Messrs F. Harris and Gaudin endorsed the Chairman's remarks. On the motion of Mr Harris, the following resolution was adopted: (1) "That steps bo taken to erect a permanent memorial to mark the first landing place in New Zealand of Captain James Cook, and that a committee be appointed for the purpose of carrying the same into effect; (2| that the Committee consist of the following: His Worship the Mayor (Mr J. Townley), Hon. James Carroll, Rev. H. Williams, Father Mulvihill, Rev. J. G. Paterson, Mr W. A. Barton, S.M., Messrs T. Adair, W. Gaudin, F. Harris, A. F. Kennedy, W. Webb, R, N. Jones, J. Rosie, J. G. Cox, and Rowley (Headmaster of the Gisborne school, the committee to have power- to add to their number. Apologies were received from Messrs Barton, S.M., and A. F. Kennedy, for non-attendance, who had marked their approval of the project by contributing a guinea each. The Rev .H. Williams was appointed chairman of the committee, and joint treasurer with.,, v Mr Barton. Mr Gaudin was appointed secretary. It was mentioned that Mr Carroll favored the movement, and it was decided that the Government should be approached for assistance. The total subscriptions received so far amount to £5 18s 6d,

Mr-J. Griffin, Napier, is the successful tenderer for the erection of the Nuhaka Dairy Factory buildings. When the Dray ton Grange, with Mr Seddon and Tenth Contingent .-aboard, arrived at Durban, among those who assembled to welcome New Zealand's Premier was General Baden-Powell. ihe Tenth Contingent yelled delightedly at the sight of "8.-P.," fw, by a beautiful coincidence, the day was the anniversary of tlie relief of -Mafeking. A young man named Jack Rhodes, employer at Messrs. Prouse Bros.' sawmill at Levin, was out shooting on Sunday, when by . accident he slipped down a cliff. In the fall the gun he carried went off, and the discharge lodged in Rhodes' foot. He was alone at the time;aud had to crawl three miles before he could obtain assistance.

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Bibliographic details

Poverty Bay Herald. PUBLISHED EVERY EVENING. GISBORNE, SATURDAY, JULY 5 1902. BANK OF NEW ZEALAND., Poverty Bay Herald, Volume XXIX, Issue 9469, 5 July 1902

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Poverty Bay Herald. PUBLISHED EVERY EVENING. GISBORNE, SATURDAY, JULY 5 1902. BANK OF NEW ZEALAND. Poverty Bay Herald, Volume XXIX, Issue 9469, 5 July 1902

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