The Waikato Argus GEORGE EDGECUMBE, Proprietor. TUESDAY, MARCH 23, 1897.

Waikato Argus, Volume II, Issue 110, 23 March 1897, Page 2

The Waikato Argus GEORGE EDGECUMBE, Proprietor. TUESDAY, MARCH 23, 1897.

Thk interim reportof the Liquidator of the J. G. Ward Farmer?' Association is such that only a " Wizard of Finance " can fathom its depths and duplicities at short notice. Mr Cook is a hard-headed man of ligures not in the least likely to allow political bias to influence him in the performance of his professional duties, his conclusions after a long term of investigation must therefore be accepted as being as true a statement of the affairs of the company, and its mode of doing business as can be arrived at, with the imperfect book-keeping at his disposal. It is the balance-sheet which is supposed to give the position of a business at the time of its compilation. According to Mr Cook, those, issued by the directors failed to do this, from the first to the last, he points to important inaccuracies in every statement advertised. In the first there is a difference of £15,000 between the actual state of affairs and the statement. A system of drawing cheques all more or less based upon debt to the Colonial Bank has prevailed throughout. To illustrate the system we quote from Mr Cook's remarks on the mode in which the balance-sheet of 3rd June was "cooked." He says among the assets are omitted the following amounts due : J. G. Ward, balance of account, £15,-122; Southland Hope and Twine Company, £3396 ; Hokouui Coal Company, £1982. Ward according to the books owed the Association £50,422. It was reduced on balance day to £15,422 by Ward's cheque on the Colonial Bank for £35,000, which was put to the Association's credit, and which before that was in debit £01,158. On the 2nd July the operation was reversed. As to the balance-sheet of June 29th, 1895, Mr Cook'says he finds the Bank account greatly misrepresented the Association. In adjusting Ward's various accounts with the Association th<» proceeds of the debentures placed to his credit were transferred to the debenture account, and this raised Ward's debt from £14,716 to £54,576. Ward was credited with £30,000, the draft on J. Conned and Co. A sum of £18,016 standing to the credit of J. Connell and Co. was transferred to Ward's account. There was also £38,426 to the credit of Connell and Co., London. £6,500 of this was credited to Ward, when there appeared to have been £l6 lis 9d to his credit on the Ist July. The balancing day being past, Ward was debited with £18,016 and £6,500, Brooks and Co. and Connell and Co. being respectively credited. There was no entry of the £30,000 draft on Connell and Co. in their account until August 27th, when they were credited and Ward debited with the amount. Gn November 13th to extinguish the draft Connell and Co. were credited with£3o,ooo cash to meet the draft. Mr Cook adds that he is unable to discover any trace of the oat warrant said to have supported the draft, nor of what foundation of right there was for crediting Ward with the proceeds of the Associa tion's debentures, or the proceeds of Council's draft or Brook's £6500, and he can only conclude the entries were made in view of the impending balance-sheet. Iti.-idue to Ward, adds Mr Cook, to state that he was out of the colony on June 29th, but was represented by Fisher, who acted as his agent under power of Attorney. We will quote once more from Mr Cook's statement, and then leave the concluding portion of his report, which we publish in another column, to explain itself. Drafts, says Mr Cook, varying in amounts from £IOO to £OISO drawn upon persons or firms in other parts of the colony and Australia were discounted at the Bank and shortly afterwards taken up by the Associa ion, apparently without having been presented to the drawees. The number of these is 174, representing a total of £18,330 4s, All but two were drafts on demand and there is no trace of business with the drawees to support any of thorn. The exchange on these was charged by the Bank. Tn some instances the time which elapsed between the discounting the draft and its retirement was too short to permit of its being presented. This is the most remarkable statement of the affairs of a company, and the management of a bank that it has ever been our lot to read, and on these grounds alone calls for comment. The most serious aspect of the affair is, however, that the man who has been the principal juggler has been Colonial Treasurer, and is so at this moment in all but name, and if this last exposure does not prevent will

again b">th hold the office and draw the pay. Even the most abject follower of Mr Heddon cannot however, help feeling some qualms of conscience at supporting a Ministry having a man with Mr Ward's reputation as its Colonial Treasurer. The Ward Farmers' Association is a case analagous to that of the City of Glasgow Hank. The directors of the latter went to prison.

There was a sharp shock of earthquake tele at Tanpo at II a.in. on Saturday. So fur 123 claims for pensions under the old age pension scheme have been received in Wellington. The Minister for Justice cannot see his way to increase the number of Wardens on tiie West Coast. On the recommendation of the Commandant, Captain Coyle lias been reappointed submarine mining officer. We were informed yesterday that the Cambridge West Amateur Athletic Club intend holding their annual fixture on the'24th May. The circuit to which the Rev. J. J. Mather was appointed by the late Wesleyan Conference, is Willoughby, near Ashburton, in Canterbury. Rev. C. Jordon, 8.A., of Taurauga, who is a candidate for a seat, on the Bay of Plenty Licensing Committee, publishes an address to the electors in this issue. Mr Justice Williams has ruled that returning officers in local elections must give their casting votes immediately an equality of votes is ascertained, and at no other time. It may not bo generally known that Thursday next, the day of election of the Licensing Committee, is a half-holiday, and between the hours of 12 noon and 7 p.m. ic is unlawful to sell intoxicating liquors in any licensed' premises. Messrs McNicol and Co. have received instructions from Mr Charles F. Spooner (who is leaving Te Aroha to reside in Auckland) to sell at Te Aroha on Wednesday, April 14th, his dwellinghouse, three sections, and furniture. Full particulars in a future issue. For some time past Constable Brennan, of Cambridge, lias been trying to catch certain individuals who are in the habit of supplying prohibited persons with intoxicants. We are told he has been successful, and that more than one will shortly be “pulled” for the offence. We draw the attention of the electors of the Bay of Plenty to an advertisement in this issue. It is a pity the electorate has been put to the expense of a contest, but as it is so, it behoves everyone to exercise their right to vote, and we trust the poll will be a large one. A Cambridge young lady who went by the school excursion to Auckland last Friday wished to leave the train at Ellerslie, so she jumped off as it was passbig the station. She managed the business successfully, in so far that she was not injured, hut she did not bargain for having to appear at ihe Stipendiary Magistrate’s Court for the offence, us we understand she will have to do. On Sunday morning Mr W. Hyde was driving through Victoria-street, Hamilton, in a single buggy, and while going at a sharp trot one of the wheels suddenly parted company and left the front part of the vehicle dragging on the ground. Tills naturally frightened the horse, which Was fortunately a quiet one, but he was steadied down after traversing about 100 yards, and after he had cut himself considerably about the hind fetlocks. We remind those anxious to assist Miss Celia Dumpier that her conceit takes place in the Volunteer Hall, Hamilton, this evening. We learn that many well-known and favourite local musicians will assist, as well as the Hamilton Orchestral Band and the Hamilton Light Infantry Band. Amongst those who have offered to sing we may mention the following :—Mrs Whitaker, Dr. Kenny, Mr Meachcm, Miss Held and -Mr J. Devery. Mias Missen will play the accompaniments to Miss Dampier. and MBs Dumpier with Dr. and Mrs Kenny will play a trie. From all we can gather the programme will be a most enjoyable one. We understand that Mr A. E. Manning, of Hamilton, who has lately purchased the chemist business carried on by MrC. E. Tennent at Cambridge, will take possession to-day, and that in future the shop will be in charge of Mr W. Little, late of Mr Jas. Haslett’s, of Queen-street, Auckland. Mr Manning intends to keep a large and varied stock of patent medicines, chemists’ and druggists’ sundries, etc., in order that the wants of his customers may be immediately supplied, and no doubt bis efforts in this direction will be appreciated. Customers will also find it to their advantage to know that in urgent cases Mr Little may be found at Mr Harry Kerr’s Hotel any hour of the night, and that he will only be too pleased to attend to them. “ Once in a blue moon ” is a saying which is not merely a fanciful expression for extreme rarity, but appears to be founded on fact. Blue moons are very rarely seen, however, much more rarely than blue or green suns. A bine moon was observed several years ago, about the time when the atmosphere was supposed to be impregnated with the dust of the Krakutna eruption. The colour was like that of a hedge sparrow’s egg, a pale, rather greenish bine, and it gradually died away in some minutes after first caught sight of. Bine, or, rather, green suns were observed at Madias, and elsewhere about that time. A green sun was observed at sunrise by Hicks Pasha in the Soudan just before the destruction of his army. A blue sun was seen at sunset on July 2Sth last off Cape Stat, Norway, by (Japt. Salvcaoii, of tlie Ellida. It is all very well to congratulate ourselves on the result of the Federal elections, and say that the best men won and that everyone had a fair field and no favour (says a writer in the Sydney Morning Herald). Hasty people may talk this way ; but 1 am one who likes to look beneath the surface and gaze, front to front, on reality. And, therefore, I say unhesitatingly that we ought all to be very thankful that things are as they are —they might have been different, how very different, only Mr Seddcn knows. Mr Seddon, it may be stated, is Premier of New Zealand—where New Zealand is people may ascertain for themselves. But this is neither here nor there. Mr Scddon is in civilisation now, and, talking to a Herald representative the other day, he declined to say anything about Federation, “Why not?” asking the groping person from the Herald—the dolt was quite unable to free himself from his parochial shackles and soar into the mental atmosphere that doth badge a New Zealand Premier. Mr Seddon crushed him pioperly. “ I will not say anything that will prejudice the election here,” he said. Is it possible to praise too highly this restraint ? Wo have got our Barton and Held, and Brunkor and Jarruthers, as it is, hut if Mr Seddon had spoken ! We might have had Thingumbob and What’s-his-name and You-kiiovv-who —it merely meant Mr Seddon saying the word. But he didn’t, he kept himself in, and we, we perhaps have got the wrong ‘ hunch ’ after all, but not knowing it arc jjappy.”

Tlio Rev. Father Jjuck will visit tlie Raglan district this week, and will hold the usual services there on Sunday next. 111-luck seems to attend the porters at the Frankton Junction Railway Station. Only a lew weeks ago one of them strained his back severely while lifting a heavy weight, and yesterday another, while attempting to lift a dog into the dog box, had his left hand bitten badly. The House of Commons has passed a resolution that not more than •JO clays shall he devoted to the business of supply, .Surely, if this scheme is workable in the Imperial Parliament, their should he no diflieulty in disposing of supply in lime to allow the Premier to go to England. In the obituary notices in the London 'limes of February sth a cm ions coincidence as to nomenclature occurs. The names of Driucobier and Drink waterfollow each other. At an inquest icported in the same paper, the two doctors who attended the deceased were named Bury and Graves. Every preparation is being made to make the Masonic ball, to he held at Cambridge on Thursday next, a success. The music will be supplied by Messrs Wallett (of Auckland), J. Mumo (of Hamilton), and T. Ifartly (of Cambridge), and we learn that several members of the Cambridge Orchestra have kindly offered to assist in the earlier part of the evening. Bro. Boyce has charge of the commissariat department, so that will bo all that can bo desired judging by the excellent supper he provided at last year’s hall. We trust the gathering will be a large and successful one. On reference to our report of the Pukekura Road Board meeting, it will be seen that settlers in that district will have to clear the roads of furze, briars, etc., forthwith. We should also like to remind the settlers that it is necessary to destroy the briars, etc., or they prove a gieat nuisance. We are told that some lambs that were driven from Ohaapo to Cambridge last week “ almost had their legs sawn off ” by the cut briars that lay about on the Pukerimu road. The poor animals suffered greatly and carried a considerable amount of the refuse to the end of their journey, and then it took some hours to denude them of the briars. The tone of some recent articles in the Hamburger Nachriehten is, perhaps. explained by the mental condition of “ the dropped pilot,” by whom that journal is inspired. According to a correspondent of the Daily News, Prince Bismarck is thoroughly unhappy. He said to a recent visitor : “ My illness is want of the joy of life. My existence is no longer of any use. I have no official duties, and what I see as an onlooker gives me no pleasure.” If this is the Prince’s habitual frame of mind, an occasional outburst of spleen in print is not to be wondered at. One can only hope that it affords the old statesman some relief. A correspondent writes from Wellington to a contemporary :—Mr Gilfcdder, the schoolmaster who won the Wallace seat, has not been petitioned against, but he will have to face an indictment as toon as be takes bis oath in the House. Notwithstanding die fact that the Ministerialists of that far South yearned for the patriotic Gilfcdder as a representative, it was in defiance of the laws of the land that he should draw his pay from the State to instruct the youths of Mossburn in the throe R’s and at the same time let himself loose to teacli their parents how great and good a man Mr Seddon is. The law is very definite in restricting persons in the receipt of public money from dabbling in polities, and it appears that the gentleman in question had his conduct discussed by the Ednactiou Board, who sent their Inspector to report on the school. He found the master absent and accordingly reported. The Board called upon Mr Gilfcdder to do the duties he was paid for. Mr Gilfedder replied at great length, telling the Board in effect that it was none of their business, and after he was officially declared elected he resigned. There was a question raised as to the interpretation of “ public money,” and it was argued that as the Educition Board paid salaries that these did not come within the meaning ol public monies. But it seems this is wrong, for the term is defined by statute to mean all monies that have been reviewed by Parliament ; and it is the intention of another member as soon as the House meets to challenge the seat. The penalty is £IOO a day lor eveiy day on which a member occupies a place in the House wrongfully.