The Taranaki Herald. PUBLISHED DAILY. WEDNESDAY, JULY 4, 1900.

Taranaki Herald, Volume XLVIII, Issue 11503, 4 July 1900, Page 2

The Taranaki Herald. PUBLISHED DAILY. WEDNESDAY, JULY 4, 1900.

The prosperity prevailing in the colony is reflected in the balance-sheet of the Bank of New Zealand for the past year. The gross profit made by the institution was £414,076, an increase of £34,745 i upon the profit of the previous year, while the working expenses were £1? 1,55 b", against £187,911 in the previous year, a decrease of £16,355, due to economies in salaries and allowances, rents, directors' fees, auditing, stationery, and other items. Considering that the business of the Bank has largely increaseJ, these economies are veryfsatisfactory. The net profit; made during the year was £242,520, an increase of £51,100 — more than twenty-five per cent. — upon the previous year, when the amount available for disbursement was only £191,420. The balance has been applied as follows i — £ Interest on guaranteed stock .... 80,000 Dividend on preferred shares ... 17,500 Written off Estates Co. assets ... 70,371 Written off Debenture Conversion account ... ... 14,649 Written of Goodwill Account ... 10,000 Payment to Assets Board ... 50,000 |£242,520. There is, of course, nothing for ordinary shareholders, but substantial progress is made in working off the " dead horse " of early losses. Comparison of asse s and liabilities at tho j close of the year with those at the end of the previous year shows as follows : — 1899 1900 £ £ Nptes in circulation 660,223 722,770 Bills in circulation ... 778,365 770,347 Deposits 7,834,480 8,587,859 Coin and bullion ... 1,284,920 1,407,526 Ljquid securities London 1,803,395 2,667,686 Investments jh New Zealand ' ... 2,540,387 2,3?6,284 These figures indicate a steadily growing business, which, with a continuance of the present wise and prudent management, will in the course of a few years raise the Bank to the high position it formerly held, but, let us hope, on a more stable bnjiig. There is, it imisi be remembered, Iho heavy liability to the colony, amounting to two millions sterling still hanging over the Bank, bufc this is not due until Ist November, 1904, by which time, there is every reason t6 suppose, the Bank will haye greatly strengthened its position, and l^ui'liamenfc will raise no difficulty against renewal of the guar antee for a further period upon satis-

factory terms. The fortunes of the Bank di New Zealand are now so mixed -iTp-with the welfare of the colo ly (hat the steady -progress now being made by the institution will bo universally welcomed.

In the report for the year ended March 31st, 1900, the General Manager of the Assets Realisation Board states that the conduct of business by the Board has j proved extremely satisfactory, not only from a realisation point of view. The working and management of station properties shows a surplus of £87,455, or equal to £5-92 per cent on the book cost, and £8 - 8 per cent., on his valuation. Deducting from this the sum of £11,855, surplus overdrafts against the laud on consignments unrealised at March 31st, 1899, there is left a not annual profit of £75,600, which gives £5-14 per cent, on the book cost, and £7-68 per cent, on his valuation. The amount on debentures and debenture interest redeemed to March 31st, 1900, is £180,285, and the Board is now in a position to repay £75,000, with an additional £50,000, the latter being to the Bank of New Zealand. The statutory amount of debenture interest, £88,098, has been paid promptly to date. There is a surplus of £48,063 to carry forward. Sales have been made to the extent of 46,429 acres of country lands, realising £111,137, andof town and suburban lands, realising £43,300. Prices hitherto unobtainable for land have been received in response to the enhanced value of produce and stock. Sales have in all cases been effected without difficulty at or over reserve prices The keenest enquiry experienced has been in the South Island. The sales for the year were as follow:— Land, £154,439 ; stock and im-

plements on properties finally realised, £13,909; total, £168,346. The land sales were £34,917 in excess of the previous year. The proportion of sales to book cost (£2,731,706) was 21-4, and to land lax valuation, plus ten per cent, for sundry properties, and the General Manager's valuation for station properties, which together totalled £1,895,179, was 30-79. We hope that the fullest advantage will continue to bo taken of the present brisk demand for land to unload properties held by the Board.

Captain Edwin wires : — Glas's ■ rise, frost to-night, and poor tides.

On Tuesday afternoon Mr G. Cliff's tender (£3333)' was accepted for the erection of a home at New Plymouth for the aged and needy of the district.

The Directors of the New Zealand Insurance Company have declared an interim dividend of two shillings per share.

The local delegates to the Agricultural Conference will report upon the proceedings to the Farmers' Club, at the latter's annual meeting, on July 21st.

The Tnglewood Record reports the death of Mr H. H. Chambers, secretary of the Inglewood Co-operative Bacon Curing Company.

The newly-formed Hockey Club will open its season on Thursday at 2.30 p.m., on the racecourse. Afternoon tea will be provided, and the public are invited to attend.

On the application of Mr Samuel, probate of the will of the late Mary Hall, of Lepperton, was granted by the Supreme Court of New Zealand to Catherine Dolan, of Normanby, the daughter and executrix.

Lady GcorgianaGrey, daughter of Earl Grey, of the great Reform Bill, has just entered upon her hundredth year. She is the oldest resident at Hampton Court Palace, enjoys good health, and retains her faculties in a wonderful degree.

It is twenty-five years ago to-day (July 24tb) since an Union S.S. Co.'s steamer first visited New Plymouth, the Hawea calling at the roadstead on July 4th, 1875. Captain Malcolm was in temporary charge, Captain Wheeler being detained in Dunedin at tho time. The steamer brought only a small cargo and a few passengers, but she was the forerunner of a long and prosperous connection between the Union Company and this port.

The Japanese apply one of their many pretty ways to tho launching of ships. They usa no wine, but hang over the ship's prow a large pasteboard cage full o E bird*. The moment the ship is afloat a man pulls a string, when the cage opens, and the birds fly away, making the air alive with music and the whirr of wings. The idea is that the birds thus welcome the ship as she begins her icareer as a thing of life.-.

The following tenders were received for the erection of the Old People's Home at New Plymouth: — M. Clow, New Plymouth, £3970 complete, £3680 reducedRobt. Coleman, New Plymouth, £3757 and £3173; Mills & Spenco, New Plymouth, £3675 and £3200; Pikett& Grayling, Now Plymouth, £3587 and £3227; John Ryan, Manaia, £3580 and £3290; H. Wallath, New Plymouth, £3570 and £3030; Fairweather & Harkin, Auckland, £3642 and £3060; Boon Bros., New Plymouth, £3398 and £3019; Geo. Cliff.New Plymouth, £3333 (accepted).

One of the " mysteries " of the British Museum has just beon exploded. The authorities havo opened a box which has lain sealed in 'he Museum since 1834, and have found that it contains — nothing of interest to anyone. Francis Douce, antiquary, died in 1834, leaving the bulk of bis curiosities to Oxford, and to the British Museum this precious box, which he stipulated must not bo opened until 1900. For 66 years the box has remained intact. On the 6th May Literature said that the box had beon opened, adding : " A preliminary survey has not revealed anything very important, but tho result, we understand, will bo communicated to the press 'in due course ' — say, a year," Sir Edward Maunde Thompson, director of the Museum, laughingly told a Daily Mail representative that the paragraph in question ought to stop at the word " important." The box, he said, contained nothing of the slightest value, and he was not sure that the Museum would keep it on the premises any long-.r. Douce left everything worth having to Oxford, and in leaving his box to th 3 Museum was evidently playing a practical joke on posterity.

An interesting bit of early history has been laid before the House in a petition from John Guard, a native of the colony, who is now 89 years of age. He la a son of Captain John Guard, who was master of the barque Harriett in 1830. The petitioner was born in Queen Charlotte Sound in 1831, he being tho first European child born in the South Island. In 1834 the barque Harriett was cast away on the beach at Opua, near Opunake, and petitioner, then a child in arms, and his mother were taken prisoners by the Maoris, and kept in tho pah by one of the chiefs for some months. Eleven of the crew were 'killed, and others qsoaued with, wjtness'9 father in a whaleboat, His fathev eventually got to Sydney in a brig. There tho matter was reported to the authorities, and tho warship Alligator, with 100 troops came over to New Zealand, and, after some fighting, they rescued witness and his mother. His father did not recoivo any compensation for tho luR5 ho sustained, and witness now nskq fox: a (,mall goant q£ 50 acres of laud at Port Underwood to support him iv his old ago, with his wife and daughter.

Persons interested in gold dredging shares, which have provod so remunera tivo in the south, can inspect prospectus and share lists with latest quotations at the offlce of J, a, Dftyioß,, Sh.ajiebjjokcr Devon-street, 0 l

The etippaga of English casJes o i Tuesday is supposed to have occurred io the west of Madras.

A poll of tho citizens of Dunedin on the proposal to borrow £65,000 for the extension of "the present water supply resulted in the proposal being lost by seven votes, 250 voting for it and -257 against.

From information received it is understood that the Mounted Rifle Corps down the line will be well represented at the Guards Ball to-morrow evening, and we are asked to request all retired officers to also appear in the uniform of their late company, so as to make the military display as successful as possible.

We would direct our readers' attention to the announcement on another page by Messrs Wright & Hutchen, barristers and solicitors, of their intention to attend at Stony River and Urenai on sale days We believe we are correct in saying that Mr Wright's connection with Taranaki is of long standing as a nephew both of Mr Bolland, the first clergyman of New Plymouth, and of Archdeacon Govett. Mr Hutchen is well known in the district, as he was for years practising in New Plymouth in partnership' with Mr F. W. Richmond.

One of tha leaders of tho Greenacre Chautauqua. in Maine, is Dr. Lewis N. James, a. scholar who beneath a quiet exterior veils considerable humour. At a recent session of that famous.institution there were lecturers numberless from all over the world. Meeting a friend, the doctor asked him how he was enjoying himself- " Finely up to yester day, when I heard Professor X." "Didn't ho lecture well?" "Not at all. He simply told us what ho didn't know." "Is ho still talking ?" queried the doctor as he walked away.

News from Tokaanu states that an extinct cooking hole of the native = on the edge of the Tokaanu Crsek became very active on Sunday, and threw up mud and boiling water twenty or thirty feet. This subsided after a few minutes, giving place to a force of steam, shooting into the air with a roar which was heard a great distance. After a few minutes this also subsided. The mountains have been unusually noisy for some days, but the weather was too thick to allow of investigation.

,The longest distuico that a shot has been fired is a fow yards over fifteen miles, which was the range of Krupp's 130-ton steel gun. firing a shot weighing 26001b5. The 111-ton Armstrong gun has an extreme range of fourteen miles, firing a shot weighing 18001bs, and requiring 9601b3 of powder. The 22-ton Armstrong gun hurls a solid shot for a distance of twelve miles, and the discharge of the gun cannot be heard at the place where the ball strikes. From twelve to thirteen miles is the computed range of the most powerf ul guns now in use, and to obtain that range an elevation of nearly 45deg. is found to be necessary.

The Queen (according to the Manchester Guardian) is establishing a portrait" gallery of soldiers who have distinguished themselves in South Africa. She his secured a portrait of every general in the field, and makes an effort to obtain one of every officer who especially distinguishes himself. The Queen, however, does not restrict the gallery only to those who hold commissioned rank She has secured the portraits of two or three private soldiers,, and will finally possess portraits of all recommended for the Victoria Cross. A position of special honour is given to the photograph of Lord Roberts's gallant son, which Lady Roberts herself presented to the Queen.

The unconscious humour of the Irishman still lives. "During the Queen's visit to Dublin,' 1 says a correspondent of the London Globe, "a friend of mine was sitting in Phcenix Park,' when to him appeared a ragged old chap, most gloriously intoxicated. ' God save the Queen, sor,' said he to my friend. ' Certainly,' was the reply. ' God save Queen Victoria !' reiterated the old fellow. 'By all means. Send her victorious, happy, and glorious' 'That's right, sor!-I : wish she came to Dublin every month, every day, sor ! Think of what she's done for the counthry ; think of all the good she does to the people. Why, look at me ; here am I as 'drunk as , and never paid a penny for it.' "

On his retirement from the SurveyorGeneralship Mr S. Percy Smith was presented by the officers of the Department with an address and a writing cabinet. Mr C. W. Hursthouse took occasion to give some interesting particulars of the recipient's career, which, ho. said, began in Taranaki in the early fifties, when surveyors, by reason of hostilities of the natives, carried their lives in their hands, sometimes lost them, and often only saved them by a ivire combination of courage, tact and temper. These qualities with others which go to the making of ability, Mr Smith possessed from the first in a marked degree. Regardless of possible dangers o v certain hardships he went where his work demanded hh presence, ana said Mr Hursthouse, " I have known him often tramp ten' miles to his work, with a heavy instrument on his back, do a full day's work and tramp back again, making nothing of the twenty miles." In addition to his official work Mr Percy Smith has also won distinction in the world of letters by his papers to the Philosophical Society, his contributions to various Government publications on the land system of tho colony, and other subjects. His book "The Whence of the Maori " is the lust of the long series of valuable woikt, and tho next will probably ba a .hisiurv i>l ihi.' Maori, for which ho will now havo the leisure whioh is exacting official duties have up to the present denied him.