THURSDAY, JUNE 6, 1878.

Waikato Times, Volume X, Issue 929, 6 June 1878, Page 2

THURSDAY, JUNE 6, 1878.

The telegrams we publish to-day contain most important intelligence for the people of New Zealand. Sir Julius! V6gel,« >to whom , the colony already - o\ye3 so much, has again done it good service iv placing 'on the London market at a time when .the-Gqvernment had fairly despaired of floating it, the new loan ' offtpo! aud-a-half > millions-; authorised v last session, and the balance of former loaW, amounting altogether toa-sum of three and-a-:half millions sterling. The whole loan is taken over by the Bank of England >m the. same manner .that., the Kothsohild's took bvei* the last* loan, and the Bank has already opened subscriptions. The matter was one of very great importance, for it is useless to gloss over the fact that the stoppage of Publi,c Works, already entered, upon by the Government would soon have had a very damaging and depressing effecti upon', the immediate prosperity of the colony. In this part of the country we had already felt its effect iv the hoh-acceptance of, the tenders sent m for the construction of the extension of the railway from ' Ohaupo to Te Awamutu, and m the unwillingness of the 'Government;" to operate against the grant of £40,000 voted last session by the Assembly foe the construction of roads m the North Island. And generally, throughout fclie colony, the stoppage would have been sensibly felt. Many of the works to be performed nre, like that of our own railway,I continuations and completions of works already constructed, which m their incompleted state are not nearly so reproductive as they would be if fully accomplished. The colony must be maintained m a condition of progressive advancement. :It cannot afford to stand still, far less to retrograde, or to allow past expenditure to lie unproductive for want of further reasonable outlay. ,' $© Iwg as borrowed moneys are expended Jn opening, up the country for sot<tl<?mcn,t .sjo

long will tho maintenance of our Public Works system render them in proporlion as T^i^reases. We are far from lia'vi^ 'rgaclied' that point when to incret|e 6^ liabilities will be fco liave^itireas^a oni* burdens, that is, looking ;afc fjjj!iib weight of the burden inj reference|tp our strength to carry "It.] Thatltitne will only coma when we expend the money boi'rowed, on merely unproductive works and departmental expenditure. .That .this is really so is plain to see at the present moment when a New Zea- ! land. Goyernment was never more agreeable disapointed than it now is at 'finding subh a discrepency between estimated and actual revenue. The truth is, the prosperity of the colony will continue fco advance pari 'passu with ' the opening up of the i country lands, to profitable setfcloment. /Wijihput rjail\vays and witta out loads we cannot hare profitable settlement. . The Public Works^ !scheme, bo far .as it has gone, has worked wonders m this respect. Railways have-rendered. land available for settlement, which, till they wore constructed, were , hopelessly shutout from a market,andthe expenditure incurred upon them has given a real value to the lands of the colony, not a merely nominal value for sale as matter for future speculation, but value for presen.fi use, far greater than the cost of the works, and already bearing fruit m the over-flowing treasury returns with which the Colonial Treasurer will shorty gladden the hearts of our legislators. .... Very shortly ,we may expect to learn the extent to which the new loan has been subscribed for, and the terms on which it will be placed. Some portion of it has been already hypothecated, but under the arrangement made by Sir Julius VogeFwe may naturally expect to find that the whole loan has been successfully floated, and that therefore there will be sufficient funds to enable the Government to carry out the past vetes of the Assembly. Queensland, as we have seen, has within the last few weeks succeeded m floating two and a half millions of its loan, and though the borrowing powers of that , colony, have not been so largely strained as those of New Zealand, sits capacity of endiirance is hot nearly so great as oar own, and this, we believe,' will largely influence the British capitalist. [Since the above was m type, intelligence, which will be found m our ' telegraphic columns" has been received, stating that on, the first day of application tenders were received for double tho number of debentures to be issued. The rates offered are not stated, but the fact that there was such a rush upon the stock, leads us naturally to ' the; conclusion that the terms when known will be found to be favourable to the colony.]

Mb George Edgecumm has been appointed agent m Waikato for the Colonial Insurance Company. Tenders for the erection of the new hotel at Hamilton must be sent m to the architect, Mr I. R. Vialou, by noon of Tuesday next: Mr j. S. Buckland will offer for sale, on Saturday next, at Cambridge, broken and unbroken h'eaA'y draught and riding horses, pair buggy horses,ridhig horses, ifcc^ We learn from the ' Saturday . Advertiser,' published m Dunedin, that " the Waikato settlers are greatly elated at the turn native, affairs have taken, and the brilliant prospects before the settlement.*' In noticing the adjournment of the Native Land Court . at Cambridge, a clerical error occurred m reference to the date of the reopening of the Court. The Court will sit again, not on the 18th, ,hut on the Bth of July. TnE Brothers of the Sons of Ulster 'Lodge are informed that the usual monthly meeting;. will: be held m the Victoria Hall, Hamilton, on Friday evening 14th inst. instead of Thursday^ to enable the ; members to attend- Mr Cox's meeting. Fencing.— -Tenders for the. erection of about 70 chains ; of wire fencing, on allotments 77 and 7B, Parish. of Horotiu, posts, rails, and wire to be supplied and placed on: the ground by- the Board, will be received by the Chairman o| : the Newcastle. Distnct Board until J Saturday next. ; Flour Down— Bread Stationary!— Messrs Thornton, Smith, arid 'Firth have reduced the price of Crown brand flour to £16 per ton, and T. S. & F. brand to £13. Good coal is cheap m Waikato, and, if the price of bread is to he maintained at fivepence, housewives will act wisely m becoming their own bakers. ■-. „ • $ CAMBRIDGE Highway District.— The • Board of the above district announce their intention of striking on the 11th instant a rate of eightpence (8d) m the £ upon all rateable property m the district for the period of twelve months — from April 0,. 1878, to March 31, 1879— the rate becoming payable on the Ist August next. Watermelons are looming up m tho near f uture as the " great American product." Experiments m California 6how that sugar can be extracted from the 'melons at a cost of two cents per pound less than- from the sugar cane. Besides this, oil is made from th» seed and alcohol from the rind. — 'Weekly Mercury.' Dangerous Oils.— His Excellency the Governor has, by proclamation, declared that all light mineral oils, the specific gravity of which is less than 0*733, at a temperature of GO degrees Fahrenheit, which will include painter's spirits, eupione, benzine, gasoline, and light naptha, shall, be deemed "specially dangerous" within the meaning of " The Dangerous Goods Act." Tun Weather. Yesterday broke with steady rain throughout this district, which continued during the greater part of the day. Last night, however, the sky was again cloudless. Down South, tho rain .appears to have been much heavier and of longer duration, commencing at Wellington the day previous, and m O'ta-gQ having brought the railway traffic to a standstill: Hamilton-Ohaupo Extension. — The public will be glad to learn that the bad place m the line m Cox's Swamp (which, I by its giving way, so long delayed the opening of the railway between Ohaupo and Hamilton) has been made good. The first traffic train ran through on Tuesday--, afternoon, and yesterday tho train went nml rotuniofl twi^e during the day. '<

Football Savagery. — Football, and its accompanying" accidents, the result of the reckless and dangerous. rules under which the gaiijp is now played, have already commenced. Iv Auckland, on Saturday, a match was played betwoen,the Grafton Road and North Shore Tej® % We learn from the/ St^kthafc " the^iiibro ofc^hty afternooiyi&&sv sqiaewhat fii.ia.rred by: air" accident .^Jicli §$curred |f&rby m, 'the game to Mr! CharllylDacr^who received^ a very severe ' kjpkj&fahich ifeiwas at; first feared had brbken^ns leg. t3E>r Kend^ine,, who happenedtb be m the iieighborlibod, attended, the sufferer, and very kindly conveyed him home hi his trap." A t)oRBESPONDENX Writes ; — "'There" are great complaints of , the ; steamer; accomodation on the "Waipa, which 'river seems. lately to have .beenalmoskdeserted.., by the^riyer boats. #The result., is J;hat goods are .lyingj at 'j nearly every* station, and cannot be "denV&way." "' At Whatawhata sheep skins and shingles have been waiting ?bver M -week, {andAtheyj are itherc still; > iThe': first steam&r f or ji passed Whatawhata on Monday last, and had six loaded barges towing up. There are atVpresent.lb.oo sacks of wheat at Alexandra to come down, and until this, has. .been .shipped,; the ; steamer will not stop "at intermediate stations, much less take any cargo."