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Wanganui Herald, Volume XXII, Issue 6497, 27 April 1888, Page 2

Tub half-yearly report of tho Bank of Now Zealand, though not so favorable as in tjmes past, yot is encouraging. The shareholders will see in tho reduced dividend a prudent desivo to restore tho institution to its former position, and will strengthen the faith of tho general public in its financial stability. Tho Bank of Now Zealand is so closelj identified with the colony that the prosperity of tho one means the prosperity of tho other. Of course everyone knew tho reason why the Bank has not made so largo a profit for the last two years, without being told in the present report. Securities had boon accepted which did not pay interest on tho advances. In some instances they consisted in land which was hold at sperulath c values, andinotliersinstockswiiichpaidiiodividends The ro-valuation of theso securities from tnno to timo iB tlio practico of all banks, and no doubt this has bean dono by the Bunk of New Zealand. Tho shareholders have been asked to appoint a comnntteo to determine which securities shall bo realised, but the shareholders will bo wiso to leave the matter in the bunds of tho directors, who are quite competent lo dischargo that as well ns their other duties. There js Just tho possibility that tho directors would prefer to cast tho responsibility on the shareholders, which will not be in all cases pleasant. Big men will hi some instances havo to stand bofore tho public as small men, and a committee having no past relations with them would have less compunction in phlebotomising. This is ono benefit to ba derived from the proposal. Tho fact, however, that tho bank is propared to submit its securities to what will bo comparatively un open investigation is proof of tho soundness of its position, for no concern that was doubtful of tho gonoral character of its securities would venture on such an expedient. The qiieslion remains, could tho securities be realised supposing a coiunuttoo decided on tnat course ? There can be littio doubt on this head. There aro uuiny big estates producing nothing winch if cut up into reasonable sized farms would boconio prodycthe. The Westinovo is a case in point. It was pot pa) ing intorcst, uut whon cut up it realised tho advances. It may thus happen that tho determination of tho bank to mako the landed securities it 1 holds jW (to me tho happy Vpgelinn term) will not only 0» tho right policy for Iho bank, but tlio best Hjinj that could happon for the colony. [Since w>it% the above, we notice tho proposed comralttea lyis been appointed.]

Mr Hutchison »j,e»)>s at Upokonguro tonight.

Wo notice in Mr S. H. DroVs window a beautiful pieco of Maori work, in tho shape of a cawed walking stick.

Lute cables utato that price? were maintained at tho London wool sales on Wednesday.

In consequence of Sliwin's victory over Laing, his Melbourne budere lire prepared to back him against Burke for £500.

Not long ago on Uiu local section of railway a "special" was required, ail(l »•■ 1 ri'Kiitav dnvcrwas not available, an application was mado for v temporary engineer from tlio shops. Tlio engineer who went with the train in question ia of a somewhat norvous nature, and is generally anticipating imaginary dangers, and as tho train was eoine merrily along, tho engineer in norvous dvoacl was for knocking off steam, oxclaimit, X ut tho same time to lii'b companion, ■i" that iljey would ba into it as sure us anything if * w*Y dMn *• V" 11 "P" Bcfol '° 110 could btop> uowbver,' tho .frightful jpproheusions of the timid engineer wore disBelled and the moon, which was the unconscious source of so much anxiotj, sorcnely roso above the bank ahead.

His Honor tho Chief Justico expects to get away by tho train to-morrow morning.

We regret to hear that Mr G. McCaul is still very ill, and is confined to his bed.

Anothor honorary major, Captain Sutherland, lato of the Waiko'uaiti Kifles, having been so gazetted. What will tho Post say "•>

It is understood that tho Government rate of wages on tho Westport harbour works will range from 7b or 8s to 0s per day, but every possible particle of work will bo let by contract.

Tho Gazette notifies the appointment of Sorgeant J. S. Kolly as Inspector of Weights and Measures for tho Borough of Wanganui and tho Counties of Wanganui and Waitotara, vice Sergeant Biasott transferred.

Tho Napier News is still going ahead. Mr Wilson knows how to run a paper on popular lines, and in conscqucnco the paper is more read than any other journal in Hawko's Bay.

At 2.30 to-morrow a bowling match will bo played on tho Club green between tbo Scotch members and all-comers. Tho season is likely to closo next Saturday with tho final heat for Mr Kirkwood's special prizo. At present tho following players aro interested in this contest : Messrs MoFarlane, Stewart, Cordoza, Paterson, Bennie, and Culpan.

Tho preparations that wero being made to-day for tho Library tea mooting this evening wero such as to indicate that a large attendance is expected. The eatables to bo provided will be found to cover a wide range, and as tho good things aro not confined to the first part of the programme wo hope to see the expectations of tho ladies and the committee fully realised.

A meeting of tho Wanganui Chess Club was hold last ovoning, Mr Ballanco in the chair. A number of members were elected, add tho question of revising the rules was referred to tho eomiuittoo to report by next mooting. Other routino business was disposed of. The chess season was fixed to terminate at the end of Soptcnibor. A number of chess and draught parties filled up the evening.

At, the monthly meeting of the Firo Brigade last night the resignations of Firomen C. and 11. Greenwood woro received with regret. The sum of £i was subscribed towards tho relief of the widow and faniily of a fireman drowned at Dunedin in trying to rescuo life. A practico was afterwards held at tho Collegiate School, tho result of which fully bore out Iho report of Captain Cummins and Lioutenant Spurdlo on their visit to the institution. As to tho necessity of putting in at least two extra firo-plugs.

The natives at Putiki wero yesterday tho recipients of a largo quantity of food from Hoamii Tuipua and his people, in which thore was included G6 bags and 6 sacks of flour, 114 kits of potatoes, kuruoras, nnd karakas, 26 bags of sugar, boxes of tea, dried shark, long strings of pawas, mutton birds, A,c, &c. Tho Putiki Maoris will in a few days return tho compliment on a greatly extended style. Tuesday is likely to bo tho big talking day of the meeting, and on that (lay the Mayor, chairman of the County Council, local mombors of tho Legislature, and others will be invited.

Ono half the world docs not know how the other half lives- At an inquest in a eoun'ry district in Auckland tho other day tho following idyllic story came to light. The wife, some four Bcore years of age, had died suddenly, and the inquest brought out theso facts : That eight years before tho old dame had died, she had consontod to her husband going through the form of marriage with another woman, and that tho two wives hud lived in harmony in the same house over afterwards. Tho husband and wife No 2 nad nursed wife No 11111 111 her last illnoss, and appear to havo been kind to her' But the example is not ono which colonists care to imitate.

After tho glovo fight on Wednesday Slavin offered to assist in gotting up a benefit for Laing, but Harry refused to receive any such assistance, as ho was in his own district and among frionds, and, futhermoro, ho mtonds, beforo many months nro over, fighting Slavin again. Seveml loral sports havo expressed their willingness to join in backing Lamg for any sum up to £30C, and, at an interview last night, Laing expressed hfs willingness to fight again in a week for £100, putting up tbo whole of tho money himself. Mann, however, does not seem inclined to fight again just at onco, as he wants to got on a match with Burko. He lias, however, assured us that whon that contest is over lie will bo coming back this way on his route to America, and if all is ready then, and Laing is willing, he will fight him again. Ho must, however, get to Melbourne at onco, and not allow Burko un opportunity to say ho ncgloctcd this opportunity.