THURSDAY, JUNE 25, 1903 A TIMELY WARNING.

Taranaki Herald, Volume L, Issue 12291, 25 June 1903, Page 4

THURSDAY, JUNE 25, 1903 A TIMELY WARNING.

Our Stratford correspondent a few da}'s ago sounded a warning note which deserves attention, when he asked whether no one will "get left" at the end of the game which has been going, on for the last few years in the selling and re-selling of dairy farms at ever increasing prices. It is really a serious matter, and, in the not im- v probable event of a drop in the market value of butter, is calculat-' ed to have disastrous results to the individual, as well as a bad effect upon .the 1 district. The high value which butter has maintained! for two or three seasons has made; dairy-farming a lucrative, if ' a somewhat arduous occupation to those who have held their land on] easy terms. Something more thatf a living has been made at it, and this fact has encouraged people with perhaps less experience to go into the business, paying what ten. years ago would have been regarded as fabulous prices for land ' and stock. These in turn have done, well, so well, indeed, as to induce others to come along and buy mat even higher prices, and even' these are able to make a, good living. But there must be a limit to, values and there is also a .risk,, amounting almost to a certainty, that the butter market will not be maintained at the high level of the 1 last two or three seasons. Of course, cheap money has been the chief.factor in the improved valueof land. The man who ten years] .ago pa;id. eigh> t per <■ cent, interest on . per acre was" rented no than he who/totday'pa'ys 5 per cent on j£B. But money is getting no] cheaper,. therefore the still increas-' iiig'vai'ue inland cannot be justified 1 on those grounds.. On., the] other hand rates, both- local and general," are getting n'igher, labour is'becom-^, ing dearer, l and it is doubtful whether there is any compensating advantage being gained by cheaper' methods of manufacture of butter ot in the cost of marketing the produce. The only, justification for the rise in land 5 values' during the* last two, or three years is thei maintenance 'of the price of butter. Each season has been perhaps a little 1 better than the last in this, respect,,and, moteover, the last two! or thr^e seasons, have been'more* than usually favourable ones in the' matter of weather. There has been' ;no failure of the grass. To use al familiar and expressive tenn^ "everything in the garden lias be,en lovely." But what guarantee have; : we that this combination of favour •£ ".able circumstances is going to] continue ? Possibly there may h& jjo serious falling off in any respect.; ' Even in that case a limit of. valued, !has, we imagine, been reached $ while if an ' unfavourable season comes, or if .anything of the nature of a "slump's l, takes place in the] butter, market, the effect must inevitably be serious for those who have bought in <at high .prices with] inadequate capital';* 1 T'ortunatelyj for the district tnese 'form, we be^ ilieye'? but a gmall proportion of our "dairy l farmers'. There are ~ large numbers who are so circumstanced} owning the freehold of,j their land; 1 which they have acquired direct from the Crown at the values of fifteen and twenty years back, thaj they can afford to face whatever tlie future has, in store ior them withf out the least misgiving. Many of these were a6quirihg their hbmej •steads at a time when sixpence a pound for their summer butter was >a welcome price. . A' fall of a penny —even . twopence-Hper - pound in London will n6t affect ".this, class much, and they are a, numerous class too, the backbone, of the industry. The warning is not- inf tended for them, but rather for] those with less experience who may be tempted by tlie substantial prosperity of the district generally to embark beyond their means on the top of the tide, and who will_thus be running a great risk of being stranded when the tide ebbs a little. It is to be feared that the Government Valuation Depart-

ment is td -some extent responsible for what are really inflated values in many cases, by the policy of constantly levelling up values, taking as a criterion sale prices which are only justified by the extraordinary prosperity the dairying industry has been and is still enjoying. *

The journeymen plumbers hold a smoke concert at the Imperial Hotel' to-night. Captain Edwin telegraphed to-day*: — Strong winds from between west and southwest and south ; sea decreasing ; tides high ; probably frost to-night. The next concert in aid of . St. Mary's Organ Fund will be held on Tuesday, July. 7th. The programme will consist of character and musical items. „; v , Mr O. G. Warwick, who has been en.gaged by the New Plymouth HarbourBoard as diver, leaves Auckland on 1 Sunday next, and will commence his-, duties on Monday;. "v," v , . < w - ; Messrs Carthew,, Thompson and Co.report the sale of Mrs Weight's fourroomed cottage and- section* . situated in Lempn^s.treet, to, Mr;D^vid Scott,; of i£lthain. • . •..._, :,; j Special services will be , held at'St.^ Mary's on Sunday next, "When ,Rev. 1?.A. Bennett will preach' morning- and evening. The offertories will be de-; voted "to -the local Maori Missiorl Fund.' Mr R. W. Neal has an acfveriisementj 'in this issue calling- attention" to a line of sample suits lie has purchased,' and is now selling. at greatly reduced! jprices, * ', ...-■_.,. \ -. Through the good offices of Mr <W.< T. Jennings, M.H.R., a post office will, shortly be opened, with -a regular: mail service, .at ■ Mangaroa, in the <ohura Valley, .under the charge of 'Mr: W. Williams. ' ' - ; In this issue J. Bedford, uhibrella-j rnakei', Devon-street, has an \adyertise-! ment. Those requiring /repairs to urn-: brellas or ' umbrellas* made' to .order,' should inspect , his .large stock of> materials. ' f ■' ' ,'. \ ' The Oddfellows' dance committee,^ who intenct holding a dance in -the] Foresters' Hall on '* Thursday next,. July 2, ..beg, to thank the Star committee' for their consideration in ,put- ! "ting off their long night so as not to; "clash Vith the Oddfellows/ '_ [ The "Post" understands it is the intention of "the Union S.S. Co., after; a time, to replace 'the Takajmna on : the Wellington-New Plym.outh r onehunga run with a larger aild more up'r to-date vessel, the^okl ."Taka", going.; on to the,, West s Coast; run* , L • . t " -In ■ ib a request by Mrs^" -DocKrill, on behalf af ' tfie ~ committee • who hav.e charge of the arrangementsjEor the: bazaar '-in aid of the Maori; Girls" School, Lady 'JJanfurly], has kirid-j ly consented \that. the bazaar, shall be; lield'under >lier .patronage.'- ,_ „',' •'„. , ; - The- ladies' committee for the bazaar, .in <'aid- of -the Victoria College for ;Maori"Girls^ will meet on Friday after-: ■jiopn, at-3 v ofclock, in. St. Mary's i 'Schoolroom/ As this is i,he last niee.t-t "ifig "before the~ba*aarj al^' ladies'f are; particulaTly requested attend- io| "make final arrangements". "* /." Hallenstein -, : Bros/ N^ew Zealand': Clothing, Factory are one., of the earl-i iest ' manufacturers of ladies and gents, .waterproof overcoats in. the colony.' ,The waterproof garment; departoaent I is ; now one of the, leading 'features , of \ their large factory in Dunedin, atid| the goods turned out are well-known j for cut and reliability.. See replace. ad-j vertisement. , ' ! At Pahnerston North on Wednesdays -the police raided a Chinese laundry, and discovered 15£ packets of opium • (about7Jlbs) hidden; ;. away under tubsj on the roof. Pipes and other requis-1 ites for' opium smpking, were found,j confirming suspicions . of the police; that the place, was frequented by^ opium smokers. s The opium was, conH •fiscated and summonses issued against, the responsible Chinese. - . ,■- ? Gisborne is agitating to be" made aj main port, and thus to, secure"^ a Jre-i Auction of N ls/ a ton ' in the frei^tsl on imported goods from London. New Plymouth is, 1 in the. same position, be-i ing charged with coastal freight and, transhipment charges totalling 15/ pec ton on all . foreign imports. A re-* duction, of even .half this would ,mor,e than meetthe* interest on a £100^000 loan. : - > r - '; | At the, annual meeting of ihe Wan-! ganui Caledonian Society on day evening, on the motion of Mr R^ C. Bruce, who presided, the f ollowrng . -resolution ! ,was cai-ried :— kf That ' the( Caledonian Society 'of Wariganui wisb to give articulate expressions to thd gratitude which they/ fee} to thej Fx*ench , press for the chivalrous deli| cacy 9f their attitude and , prpcedurq connection with the tragic death 'o| General MacDonaldj,' and also to give expression to the hope that,- .the niag* 'nanimity ol our ancient allies will riot be forgotten by the Caledonian.! race'it| the years which are to iOome/'. Aj copy of the /resolution is to be for; warded to. the French Consul in Auck: Jand. ■ v ". ''• ' ''.'"'.! ' The following ' letter i h&s 'been' ml ceived" by Mr J. C. Davies" fr ! om Oienßrr al- Sir- GhWlfes/^ansfield 7 "Clarke] X.C.8., who was" adjutant of the 57th •regiment during the- 'lff aori* War, and^ is now Governdr- 'oi* ii:j Mal^aT 'Tn^ Palace ,Malta, lOtK May, 1903. My 'dear sir,— l am niuch : obliged "for you* Icindly thought in having sent nte the card relating to the services of- the Taranaki - -Mounted' Volunteers. It brought back many pleasant recollec^ 'tions, and I have always looked' b-aclt upon my New Zealand days' with hapr, piness. There is nothing; hibrfc VeautiA the world than the New Zealand bush, though I am' told that tho greater part of what I knew so,. well t has disappeared. If I live arid, fiave m,y health ,when I have r>i«shecl, with the Government of this island, I- shall be strongly tempted to, pay a visit for old sakes sake. Will you .pioase convey to the corps . my thanks for the card, and give my .special roir.tmbranccs 'io "Frank Mace^'S'o»iis/.sit,?cere4 ly, CHAS. M. CLARKE." '*" *" '

In this issue Mr R. Neal announa the purchase of a line of traveller,, sample suits bought at advantage t purchasers. Mr V. Napier, ex-M.H.R., of Auckland, came from North this morning, and put up at the Criterion Hotel. He leaves fdr Wellington tomorrow. In the Police Court this morning a man named John Field alias Day^ was^ brought up on a charge of insanity. c|\ -The S.LI remanded him- till Saturday ' for medical examination. Constable^ , tind brought the man in front Eahotuon Wednesday night. - We understand that" xlie Rev. £.; » Bennett has been able to secure the , services of a number of the Wanganui ; Natives to assist in connection with. , the corning bazaar in aid of the MaoyL sfiirls'lSchooL vTheiparty are to. arrive > .on- Tuesday "next, and will be 1 housed <■ „ boys from the Te Aute College are acat Bell Block. Some of the "senior „ companying ,€Ec" Wai\ganui Natives. .- The Maori items will 'include, wie nakaV . l poi, wero (or challenge), Maori songs], hymns, and choruses. The bazaar is ,. likely to attract a large number of , people, for "apart" froitf the object in 4. ~\ view (the ' education .of the Maori -- -< Girls) which' appeals to everyone, the; , attractions provided are of the -high- • 'est' 'class, and unique in themselves., \ .7 industry bricjc, pipe,, etc^, ma^.'' jing,.forlwhich,.there is a good openings' , iiere will .probably be started at,Motu.,roa< shortly. -Messrs A. Bayly and F*. Mv Mills- have, been experimenting late? ly; on <the-giece -of land- that they^ept -when tShey/S.dld;. Putt's farm ;to!; to ! the \ Government,* : and the result is ,'th'ajb,^ -they have* found clay deposits whicfij ♦may prove of great value. Thejr p^t-tt^-un'W hill and found the depos|t^; . : wEichislappareiitly ;of considerable exr t"ent.. << A' : samp"ie*"b'f*the clay was ;sen;t/. to Mr ( ,Harknett> atFitzroy, arid he : burnt. r£ witfi'^obd' results. Mr Millshas k- small brick' made fr<Sni the clay/, „; anclthis shows that a really first-class , " 'article can "V>e "made froni the clay; ,Mr. ', 'Hgilcnett "staVes that' the clay £j ;^f ' :exc'eUenx.~ equality for making, ,'r bricks,. : pottery. He h^s; - .offered ,;,,to'. conduct experiments wt^h: isie ;cWy 9^ a large and. his o|E«r : , .will; [probably be accepted by Messr? Bayly? and. Mills;, as they intend ta«es*; >> .tablish -worksite utilise the clay;. ■ >■ -'■^f\ >' A^i'ex^erijtnent' "un!derta(ken by the; : J Par^, - Lyons, v anU Medifcerranean rail- 1 . way, noSy apfproaohingr conrpletipn, 'is; l feeing watched with keen interest.' by^ ijhe managers- of" British railways alert : \ <M th^ economy. ..It aims" at nothing less .than, the abolition, oj£j A .tte -powerful , afid costly engiiies^ .which. \ • topp* draw.aailw'ay .trams.. Each.cplaeh - - i^to have its, owoi source of looomo*';, in, . •.the./.fqrfli^of ouojtjjr pow^rj : , : , -Thus r >fhe apiaun^ of; rollir^ ;^<%-^; -^ qiiure& f pf^ §ucqesssve , journeys^ ,&an ' . alditasiw' to , the -ab^tial needs Otf, -the. h.o(ur "arid the "Say. . Whilst, the -Fjenclif s^iheme embodies ,&onie peculiarittes ' anid jnojlififcation^ 'tiie. itdea is.nbt, ab.- ' C novels ' ,T-he South Western.;anfl- the -Brighton A railway lnfmagei^ 'ypitting Hbeix heads : togejfher^ Save V i 'turried out a motor car .of tfce adnidririjaioated.y It is- Capabler- of . .. *fefeatingj'. two sfcore passerfgers, divided, itotb .compartments of first' and second class, wiitib r^acconiimodation. 'f or some- -. .tninff,like.a.ton oUuggage. It will ... attajn. ,a ;s|o«ed ; ..of 30. mile* an How.-, .Tbe^pbject, imfner^ately an. view is V* e^\ s^plyjof. service on : ,auliutt)an.l^aes^m- ' piirierr. tp 'meet- '^the" growing- cOmpeti- \ tiotn of electric cars. \ f ' ..' Roll;. up to the Foresters' dance tf * -night. Good music. Gent's 1/6, '.ladi^^. ff eeV- <Beginners" - are requested , to roll . ; ■up at-7p.ni. sharp.* • ,". t)par oldMothet Hubbard ' V ' - : ? Searched all through her cupboafflj , \ Knd found that some thief ' had run off - 7 ,Wi^h: her through life* * ' ' ' s,pth' as .maiaen^an^. wife, ; ' '.','/. Widely,- \ known ..now „as Sykes', Clura;" -o.:dough.. <.":> ..-'.,' , ' -v,-' The very next day, ' -'■',- ?>^ A Kind parson they say, if ■■ \ . _./ .'.:. [Whom ? Sotne ; caU|cl the ' Rev; Boff, , ' ; Said > r"your"i'cQld v % severe,^; <r ' . ' , But you Wjbnt'.'b'e lon^ queer, '. ', _^ For I?ye brought you some ' ■ " J. . > ' Cura ,„' , ,