Anglo-Colonial Notes.

New Zealand Graphic, Volume XLV, Issue 7, 17 August 1910, Page 7

Anglo-Colonial Notes.

ADMIRAL MAHON’S WARNING LONDON. July 8. An article by Admiral T. IL Mahon, U.S.A., the well-known American strategist, in the “Daily Mail” this week, attracted so much attention that the ‘’Mail" adopted the unusual course of reprinting the article two days later. It is a warning to England. Insular democracies, says Admiral Mahon, are lax and inefficient in preparation for war. “The menacing feature in the future,” he declares, “is the apparent indisposition and slackness of the new voters of the last half century, over against the resolute spirit ami tremendous faculty for organising strength evident in Germany. “In a recent American magazine, a German writer, reported to be a trusted confidential friend of the Emperor, has said: ‘The weak man cannot trust his judge, and the dream of the peace advocate is nothing but n dream.’ The con eentration of the battle fleet in Homo waters is correct; the relative abandon ment of Ihe Aleditermnean for that purpose, if for the moment only, is likewise correct, especially as the Atlantic Fleet may be considered an intermediate body, a reserve, able to move eastward or southward as condition requires; but the clear reluctance to acquiesce in present naval requirements is ominous of a day when the Mediterranean may pass out of the sphere of British inlluence, centred round the British Islands exclusive ly. This will symbolise, if it does not at once accompany, the passing of the Empire; for a hostile force in the Mediterranean controls not only an interior line-as compared with the Cape route —-but an interior position, from which it is operative against the Atlantic as well as in the East. “It is difficult to overstate the effect of this upon the solidity of the Empire, for the Alediterranean is one of the great central positions of the maritime world. A weakened Mediterranean force is the symptom that neither as principal nor as ally may Great Britain be able to play the part hitherto assumed by her in the great drama of which the awakening of the East is the present act; while among the dramatis personae are

Egypt, India, Australia, and New Zealand.” Al l KLANDER’S INVENTION. A model of the patent prismatic roofing invented by Mr. John 11. Beamish, of Auckland, was on view this week at the Horticultural Society’s Show at Holland House. The Beamish system is not only suitable for horticultural buildings, but is eminently adaptable for other classes of roofing, such as railway station roofs, verandahs, shelters, etc. It has won highly favourable opinions from experts in London. AUSTRALIAN RATE WAR. The North German Lloyd Steamship Company has made an announcement wi ich s’iows that difficulties have arisen between it and the British P. and O. and Orient Lines with reference to the Australian passenger trade. lu October next the German Company will cease to work in agreement with the British companies, and will cut the first cabin fare from Southampton to Commonwealth ports to £OO, and the second cabin fare to £32 plus surtax of 10 per cent. The present rates are £65 and £3B. The North German Lloyd claim that, m view of the superior steamers, the P. and O. and Orient Companies now run to Australia, the German Company ought to be allowed to charge somewhat less. The English companies contend that rates by mail steamer should be the same whatever the flag, and a rate war is feared. ORIENT LINE AND WIRELESS. The steamers of the Orient Line are now being fitted with the Marconi system of wireless telegraphy. The (Otranto, the first vessel of the line in which a wireless apparatus has been installed, left London on June 10. This vessel reports from Port Said that she was in communication with the signal station at Poldhu, Cornwall, 1,500 miles off, the day before her arrival in Egyptian waters. NATIONAL BANK OF NEW ZEALAND. Presiding over the thirty-eighth ordinary general meeting of the National Bank of New Zealand, Ltd., which was held on July sth, in London, Mr. Robert J>ogan said that the report was the best that the directors had ever presented. When last they met, New’ Zealand was Buffering from a shortage of money, due partly to the American crisis, and partly to over-speculation in land. A short, sharp reaction followed, and things were now’ in a satisfactory position. At the end of last March deposits exceeded advances by six and a-half millions, this being due to an excess of four and a-half millions of exports, and a diminution of imports. This rush of trade, of which It might be a mistake to make too much, was due to a larger output, and to improved prices. The 60,000 new shares had been allotted, and the premium, £62,500, would be carried to reserve fund, which would then stand at £460,000, and from October Ist next the paid up capital would amount to £500,000. Their investments had nearly doubled, and a large amount was available to strengthen the Bank’s position. The financial position was sound in New Zealand. Money for investment was

plentiful, and land speculation was restricted. The farmer was making money, wealth and population were increasing, and they had had, on the whole, a very successful year. Tlie political situation of the Labour party in New South Wales had caused some uneasiness in certain quarters in New Zealand, there having been an idea that the party might follow the example of the Labour partv in Australia. The question of

the maintenance of their staff had given their manager much anxiety, there being a certain amount of agitation and foment amongst the banking staffs in New Zealand, but they- had not been unmindful of the interests of their fine body of men. They proposed to raise the annual dividend from 10 per cent to 12 per cent., and in doing iso they showed that they would be able to pay at least 12 per cent on their increased capital. Having regard to this increase, however, they did not propose to pay a bonus this year.

The Hon. Seymour T. George said that they had nothing to fear from Labour troubles in New Zealand so long as they treated workmen worthily, and they were being educated up to the, pitch of so treating' them. The report was adopted.