PUBLISHED TRI-WEEKLY. WEDNESDAY, JULY 25, 1883.

Inangahua Times, Volume VIII, Issue 1275, 25 July 1883, Page 2

PUBLISHED T RI-WEEKLY. WEDNESDAY, JULY 25, 1883.

Thursday next has been fixed upon by the House for taking Sir George Grey's motion re the imposition of a land tax, and the debate is expected to be a long • and interesting one. The discussion will no doubt range over a wide field, embracing a re«iew of the whole fiscal policy of the Government, as well as the incidence of taxation generally, and will constitute the battle of tl&jiession; *\\ har is tb^ - '^*»JLfltW«^n^f parlies will be conclusively , determined, sit far, at all events, as concernß the present Parliament. Mr Thornton, head master of the Beef ton State School, announces that he will open an evening class for the instruction of those who are unable to attend school In the daytime. The great case of of Hunt v. Gordon (Sir Arthur) was disposed of in the Supreme Court, Wellington, on the 19th instant, when the jury awarded LIOO damages. Plaintiff claimed LB, OOO. The jury added a rider regretting so many issues had been withdrawn from them, or otherwise they would have awarded much more substantial damages. So^ra uch (less) or legal bungling. At a meeting of the Greymouth Railway League held the other day the following resolution was proposed on the motion of Mr A. R. Guinness: — That this League would urge upon the members for Grey and Inangfihua to use all legitimate means to induce the Government immediately to take in hand the construction of a railway from .Brunnerton in the direction of Reefton. ' the motion was seconded by the Mayor (Mr Jas. Barkley) and carried. It is also shown by the Argus report of the meeting that Mr Martin Kennedy while agreeing as to the desirability of connecting Reefton with Greymouth by rail, was opposed to any recommendation of the Cannibal Gorge route for the East and West Coast Railway. The secret, however, of Mr Kennedy's hostility to the Cannibal Gorge route is easily understood, and is not likely to exert much influence upon the ultimate determination of the route. Interested himself in a coal mine at Brunnerton he is not anxious to Bee the coal deposits of the Inangahua brought into competition with his own interests; but Mi* Kennedy may, we think, be thoroughly assured that the destiny of a public work of such magnitude as the East and West Coast Railway will be decided upon much broader con- ' sidcrations than he is apparently disposed to allow. If Mr ShaW, the Wellington member for Inangahua, only follows up his other electioneering pledges with the same extraordinary pertinacity with which he has that regarding the arrest of fugitive husbands "what a time" the electors of Inangahua would have. A dray road between Reefton and Christchurch, via Cannibal Gorge, another from Ahaura to Christchurch, viaHaupiri; another from Little Grey to Charleston. Tracks and bridges here, there, and everywhere. The abolition of the gold duty; abolition of the Upper House ; abolition of the Defence Department ; imposition of a land tax— in short, everything that could possibly be wished for to benefit the district. However, Mr Shaw has made a beginning. "In reply to Mr Shaw the Government have undertaken to introduce a Bill for the arrest of runaway husbands." Place aur. dame* then for the champion of Colonial grass widows. Mr Shaw has the reputation of being a "ladies' man," and therefore should know best what is good for them, but we are inclined to think that there are many grass widows who will .not thank him a bit for his solicitude . in this matter. But Mr Shaw means Well, no doubt, and if there were more large-hearted philanthropists such as him in the Colony, we dare say that the country would be spared the necessity for •Boh legislation. True, it may be said, why does Mr Shaw not also bring in a Bill for the arrest of fugitive wives ? Why should there be one law for the ■wives and another for the husbands 1 But Mr Shaw would no doubt be able to suggest an easy solution to this difficulty, ftndf carrying scriptural sanction, it would be unanswerable. There may. possibly be great need for such legislation as Mr Shaw has indicated, but it may as irdit be placed on record that it has not - Wen called for, by the necessities of this constitueucy. When prosecuting his canvass here Mr Shaw dwelt with tedious iteration upon the fact that Wellington was full of the wives of runaway husbands. It did not occur to us at the time, but this fact may have had something to do with his delay in coming here. The sittings of the District Court, before His Honor Judge Broad, opened on Monday last. The only civil case down for hearing was that of Maine v. Graham, in which plaintiff claimed LIOO on disputed partnership accounts. Mr Jones, with Mr Guiuess, appeared for the plaintiff, and Mr Lynch for the defence. The evidence was very voluminous, occupying the greater part of the day, and resulted in a verdict being entered up for the plaintiff for the full amount claimed, together with costs Ll2. In bankruptcy Mr Lynch applied for an adjournment of

the application of Frederick Davis, which was granted. Mr Jmies applied for r formal orders of discharge in the matters i of Thomas Pearce and W. J. L. Lidcii- < coat, both of which ~ were granted. . Mr ] Lynch apphVd for leave to issue a judg- < raent summons, at the suit of Robert 1 Alcorn, against Edward Shaw, M.H.R. • A question arose as to procedure, and the i matter was adjourned for further consideration. The Court then adjourned. ; MrG. C. Bowman, auctioneer, has removed to his new offices in Broadway, opposite Messrs Forsyth and Masters. A. meeting was held in the Oddfellows' Hall on Monday evening last, for the purpose of taking the necessary steps to form a Building Society. Mr J. M 'Sherry was voted to the chair, and called upon Mr R. Chattock, the convener of the meeting, to explain the constitution and objects of the Society. Mr Chattock said that his experience of the benefits and working of such institutions extended . over a period of fourteen years, and in the city of Nelson, where his knowledge of the subject had been mainly acquired, he knew of numberless cases where people haa risen to affluence through the aid afforded them at the outset by 'thVßottd* ing Society there. The investment, as such, was as good a one although on a smaller scale, as Insurance companies or Banks, many Building Societies guaranteeing as much as ten per cent per annum to shareholders. The liabilitiy of members only extended to the amount actually paid upon the shares, except in the case of shares upon which a loan had been advanced by the society, the liability upon which is confined to the amount payable thereupon under the mortgage or other security. There are no such things as paid-up or preferential shares. Every person joining the society is required to pay a fee of, say, 2/6, as entrance fee on the first share, and 1/- for each additional share, and is then a shareholder in the society. The amount payable monthly upon each share is to be fixed by the directors and varies according to the circumstances of the case from 2/6 to 4/- --' monthly. There are no other payments required in respect of the shares, and as a rule, the entrance fees are found to be sufficient to cover the entire cost of management of the society. Shareholders failing to pay their monthly contributions are fined a nominal sum, and the shares are not forfeitable until the total of the fines so inflicted equals the aggregate amount of the subscriptions previously paid in by the defaulter. The shares are issued at an ultimate value of say L2O ■ each, and whenever they have reached that value from the contributions paid in holders receive that sum per share, less a deduction of 2/6 per share, which goes to the management fund. Shares may be sold and transferred, as in the case of all companies. Shareholders wishing to withdraw at any time from the society receive back the full amount of their contributions with 5 per cent. . The funds of the society consist of, the subscriptions on shares, interest on loans of money granted to members, fines, and on entrance and transfer fees, and are applied in advances to members, and in the payment of working expenses and profits to shareholders. Loans are made upon the security of either freehold or leasehold property. At the end of every half-year the profits are divided amongst the shareholders, by adding the dividend to the capital value of each share. The loans are not to exceed in amount two-thirds of the ascertained value of the security offered. Shareholders may also borrow at any time upon the security of their shares, up to twothirds of the amount of contributions paid thereon. The interest ordinarily charged by the societies for loans upon freehold property is at the rate of L 7 10s per cent per annum. Such interest being payable by monthly instalments, for the non-payment of which, nominal fines are inflicted, as in the former case. Loans may be redeemed at any time. These embraced the main features of Building Societies, and it could be seen that the advantages were very great, particularly in permanent communities as Reefton, where the land would yearly go on increasing in value, and this increase added to the profits of the society, would in a few years place the shareholders a long way on the road to independence. He had known instances in Nelson, where members of the society had borrowed money and erected houses from which they derived a rental sufficient not only to pay the interest on the loan, but also to provide the contributions on their shares. Regarded from any point of view the society would be a boon to the community. Its working was regulated by Act of Parliament, and the commercial principle upon which it was based was as sound as that upon which banking institutions traded. He had not yet matured any proposal as to the company but illustrated its working by supposing that ,1000 shares were taken up. These at a contribution of 4/- per share would yield L2OO per month, and at the end of six months the society would be in a position to advance LI2OO, with accrued interest to its members, and the loans being re-payable by monthly instalments, the principle with the interest, would at once begin to flow back to the Bociety, to be again dealt with in a similar manner. A number of questions having been asked and answered satisfactorily, MrW. J. Potts moved "That in the opinion of this meeting it is desirable that a Permanent Building Society should be established in Keefton. " The motion was seconded by Mr W. Dunn, and carried. The following were then appointed a provisional committee to prepare an interim report, and ascertain the amount of support likely to be required and accorded :-- Messrs Lewis, M 'Sherry, Dunn, Potts, Normanby, Quigley and Boardman. The committee arranged to meet on Monday evening next, at 8 o'clock.

Acting ly the direction of the recent •ailway meeting Mr Hankin, secretary < if .he League, wrote to the member for the i district requesting him to interview the i Minister with & view of obtaining a grant : nf £500 for the formation of a track through the Cannibal < ■ orge. It was pointed out that the construction of a short piece of road through the Gorge would enable persons to ride through from Reefton to Christchurch in all weather. The following is the reply which has been received on the subject : — Wellington July 18th 1883. Henry G. Hankin, Reefton. — I regret there should be such a misconception. I wrote at considerable length to Mr Brennan explaining the position, but have advisedly postponed" formal reply to League until Sub-com-mittee, now sitting, report on Cannibal Gorge route ; also until Minister gives me definite reply to application for vote for track as promised. — Ed. Shaw." In the course of the debate on Mr Montgomery's motion Mr J. McKenzie member for Moeraki (Otag<>) said he was disappointed at the speech made by the member for Hokitika, it was one mass of contradictions, and heartless. That hon. 'geatleraaoftjiad-. told ■'■Qkfr^te&9&.j9& y . i#f Southland, when Southland was in diffi-" culties, no doubt he was prepared perhaps, fo \plun_ge the colony into difficulties, and then, having no stake in the colony, he wanted to leave it as he did Southland. However, Southland survived and so would the colony. It would be no loss, but it was a matter of regret, that there were so many in the colony of the same indifferent class. Otago was for a change ; Wellington supervision had proved an abortion, and injurious, and Parliament was prostituted by having to deal with matters which properly speaking, should be dealt with by a road hoard.