HON. MR WARD IN LONDON.

Taranaki Herald, Volume XLIV, Issue 10319, 29 May 1895, Page 2

HON. MR WARD IN LONDON.

HE LEATES FOR NEW ZEALAND ON SATURDAY. [PER PREB9 ASSOCIATION.] Wellington, May 29.— The Hon. Mr Ward leaves London on Saturday by way of Canada and the States. He is expected to arrive here on July 7th. If the Warriinoo does not touch at New Zealand, he will come on by the Upolu. Referring to the Hon. Mr Ward's doings in London, the correspondent of the Auckland Star, under date of April 20, writes :—": — " The secret of the Hon. J. G. Ward's mission is out, or rather it will be out before these lines appear in print. At the present moment myself and the energetic correspondent of your contemporary are tho solo responsible poßSsessors of the ''cat in the bag," and we are bound by the most solemn oaths not to divulge our information (save by letter) to anybody fit all. The truth is Mr Ward has negotiated a great stroke of business. Ho has arranged for the issue of a 3 per cent, loan for a million and a half through tho Bank of England, who hivvo practically guaranteed its success, though it will be done at a minimuin that is 2£ per cent, better than if the colony issued a 3J per cont, loan ot par. The exact figure cannot be given, lest it should be changed ai tho last moment. I need, I should imagine, scarcely point out that this great stroke of business could not be arranged without an immense amount of negotiation, and that it shows your Treasurer to be a very remarkable financial diplomatist. Bear in mind this was tho first proposal of tho kind made on behalf of any of the colonies, and that before concluding final arrangements Mr Ward insisted on asaurancos that it should prove a success. But for the fact that a pledge had been given Queensland to briug thoir loan cut first, tho NewZealand 3 per cent, would already belon tho market. In addition to tho fact that & 3 per cent, loan has never been achieved by any other colony and therefore is a great feather in New Zealand's cap, and will effectually rofuto all rumours of financial instability, it means, taken over the period of the loan, an enormous saving. Furthermore, it fixes a rate for which all f uturo conversions can be brought into 3 por cent, stock. "As to the means by which this itnporttnt undertaking was achieved I of course know nothing, but I conjecture a good deal. It seems to me probable thai the threat of withdrawing the inscription of stock from the Bank of England had a very beneficial effect, and made tha old lady of Threadnoedle jitreet, metaphorically speaking, " sit up." Even she is not big enough to tee £15,000 a f year fade into thin air without dismay. " I oxpeot Mr Ward told the directors that the colonial Governmont didn't think the Bank had ever done New Zealand much good, and that they felt they ijWere paying high for her very nominal countenance and counsel. Negotiations would follow, and Mr Ward e>ay, ' Well, show us you are of use, give us your help in a really important transaction, and wo may re-consider the inscription matte*-.' Now, whether this is the right explanation, I can't protend to say. What I do know, however, is that the rumouiod transfer of the inscription of stock to tho Bank of New Zealand will not at prosenfc take place. Mr Ward has persuaded the Bank to reduce their charges £100 per million, which will mean a saving of £3000 to £4000 a year, and with this and the Bank's assistance in the matter of the loan I expeot you'll have to be satisfied."

Nolfion papers announce the death, at the age of 90, of Mr Edwin Harris, one of the pioneer aottlers of Taranaki, who landed there in 1841. He brought special recommendations to Governor Hobson, but before ho could reach Auckland Captain Hobson had died. He then entered tho service of the New Zealand Company, and for many years was engaged (aaya the Mail) in surveying its newly acquired blocks of land, but finding tho hardships attending thia work more than his constitution could stand, ho bought land and began bush-fanning. At tho time of tho Maori war he had to como into New Plymouth with hi* family. After serving in the Militia for some months ho camo to Nelson, where he soon became known as an artist of considerable ability. There was an appreciative audience in St. Mary's Schoolroom on Tuesduy night to hear Mr G. Aldridgo in his special Bible mission. The subject was "Tho Second Coming of Christ," which was treated in a most exhaustive manner by Mr Aldridgo, whoso remarks were followed with rapt attontion. The subject to-night wlllbs "God's Eternal Purpoug,"