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Inangahua Times, Volume II, 25 February 1880, Page 2

The Minister of Public Works tele-, graphs from Cliristchurch that owing to pressure of Departmental work, he has been compelled to forego his in- [ tended visit to the West Coast for the | present. He has, therefore, returned to Wellington, but •• bopes " to be able to visit the Coast at a future time. We canuot siy that we are at all taken a-back by this departure from tbe programme. It is, in fact, exactly what we expected. Man of business, as Mr Oliver is reputed to be, he knew rather better than to face a dozen or so of deputations, all hun« gering and thirsting for his coming, and all properly equipped for *.be en counter with facts and figures and what not. As well might a mounted trooper be expected to accept an invitation to Strathbogie, and is not the West Coast the greatest " bogie " the the present Government have ? No, it is clear to us that the Minister never bad the slightest intention of crossing the dividing-range, and he has no doubt, been fully informed of, and baa been intensely amousd at our preparatory "flusterfication." When Mr Oliver visits the West Coast, if he ever dnee, it will be like the comet recently seen, quite " unbeknown," to anybody, and we shall never see his heels for smoke.

We have received througli Mr Menteath, of the National Bank, Reefton, the prospectus of the Anchor Steam Shipping Company, Limited. The company is beinj formed for the purpose of purchasing the fleet of coasting steamers at present owned by Messrs N. Edwards and Co. The trrice proposed to be paid is £21,000, and the capital of the company is to be £25,000, in 5000 shares of £5 each, of which the present owners of the steamers agree to take up 500 The fleet consists of the Wallace, Kennedy, Charles Edwaid, Murray, Herd (hulk), as well as ths Albion Wharf, and Anchor Foundry, Nelson. The petition to the Government re the appointment of a Resident Magistrate and Warden for Inangahua, has been returned very numerously signed, and will be forwarded to Wellington during the present week. An examination of the accounts in a recent assigned estate affords a fair insight into the unwholesome system of trading in Eeefton, The assignors were butchers, doing a medium trade, and although they had been in business only about two years, their book debts had accumulated to close upon £800, quite half of which had to be written off as hopelessly bad, and the value of tbe balance may be concluded from the fact that the whole were sold by tender for £175 ! Small wonder that tradesmen are straightened up under the operation of such a ruinous oredit system, and astonishment is enhanced at the bulk ot the amounts appearing opposite individual names. Fancy family accounts for butcher's meat being allowed to run up to £70, and from that downwards to £20. To carry on under such a rotten system a trader would either require an independent fortune at his back, or to derive extraordinary profits from his business. No wonder then that the un» fortunate trader is dragged into the mire. Ihe evil is not, however, wholly confined to tbe butchering trade, but extends to all kinds of business, and for this businessmen are themselves in great part to blame. In the hey-day of our prosperity, when property was valuable, money abundant, and nearly every other man in the community was a large scrip holder, this practice of permitting long-winded accounts was encouraged to a reckless extent, and though " other times and other fortunes " have come, the sanae system is still adhered to. Could the aggregate amount of bad debts made in Reefton during the past two years be known, it would make outsiders marvel that any one was left to tell the tale. A correspondent at the Lyell informs us that there are many encouraging signs of a revival of mining -there. Although the United Alpine Company have not as yet entered upon the regular dividend paying list, there is good reason to believe that it will do so at an early date. The lately opened reefs at New Creek show remarkably well, and it is probable that some steps will shortly be taken to get crushing power there. The reduction hi the rate of wages has led many miners to throw up their work, and set into come of the abandoned mines, and it is believed that much stone wbich was not considered good enough in the palmy days, will now be brought under the stamper. It was reported there on Friday last that a rich leader had been discovered about two miles from the Lyell, in a part of tbe ranges nnto t previously explored, but we could obtain nothing definite about tbe find. Over £600 has been subscribed in the Greymouth district towards the Irish Famine Fund, and this added to th> ccntributions of Kumara, Hokitika, Charleston, Westport, and the rest of the West Coast, will probably approach to close upon £2000. Having regard to the great depression now current in this portion of the colony, the amount speaka volumes for the liberality and generousity of the public. Wo have not yet beard the resuit of the canvass in the Inangabua, but tbe committee will no doubt be able to report by the end of the current week. It is, we learn, intended to get up one or two days athletic sports during the coming Easter holidays, and the initiatory steps will be taken early in the ensuing week, Up to tbe time we write nothing definite has been ascertained as to the movements of the Minister of Pnblio Works, but some intimation will probably be to hand to-day. Mr R. Reeves, is we believe, on his way to Beef ton. The Westport Times of yesterday says :— "Changes are taking place amongst the officers of the Bank of New Zealand on the Coast. Mr Colin Campbell, who has for six years been in charge of the Reefton Agency, has been promoted to tbe Managers ship of the Milton (Otogo) branch, and will be succeeded by Mr Gorrie, for many years in charge at Charleston, The latter position has been filled by the appointment of Mr Brookfield. who has, for about two years past, fulfilled the duties of Accountant at the local branoh. Mr Brookfield has been in the employ of the Bank for over six years, is a most excellent officer, and his promotion is well deserved. We also understand that Mr Hocking, Teller at the Westport branoh of the institution for some eighteen months past, is about to quit the service, and will return home to Auckland. Mr Hosking has always been to the fore where his services as a vocalist have been required, for charitable purposes, and will be missed from amongst the community. A gentleman from Christchurcb, we believe, will fill Mr Hosking's place." " An Old Farmer," writing to the Timara Herald, says :— ' Last year I was offered by the representative of a large firm here 3s 4d per bushel for my wheat. I shipped it home, and find from my account sales, recently received, that upon ft produce of some 230 acres I have made a clear profit of ovor £450 over the price offered me on the spot. I find, upon taking out a calculation, that my wheat cost me last year about Is BJd per bushel to ship Home, including all charges, Taking tbe freight this year at 503 (which, although very high as compared with last year, is really not exorbitant, comparing the relative value of wheat in England), the outside

charges will not exfeed 2« to 2s Id. This means that New Zealand wheat at 56 to 58s per quarter will leave a margin of 4-> lid to the New Zealand shipper, so that if the merchants mean offering 3s 6d to 3s 9d as opening prices, it means that they intend making a similar • ring' to the one already startsd in Cbristoburch, and to fleece the grower by making enormous profits out of bim. There is one tbing I can assure the merchants of, we are not nearly so hard up as they imagine, and the monopolies of baying they are now creating will work their own cure."