To find a good word for a New Zealand harbor in the ' Financial Times' is akin to discovering a needle in a bundle of hay. Here, however, is a very kindly paragraph anent the Wellington Harbor :—" The Wei lington Harbor Board sets a good ex ample to the majority of the other harbor boards of New Zealand by sending to the British Press copies of its voluminous annual reports and statements of accounts. Possibly this is because it is one of the few whose accounts show that the harbor is able to pay its way, after allowing for the neces sary "expenditure for keeping it in proper condition. For the year 1895 the working account shows a deficit of £2i?B, but that is a mare bagitelle, and, moreover, is a bogus deficit, it is not the business of a harbor board to make a profit. What it ought to do is to so regulate. its finances as to render the interest on its loans safe, and to expend any surplus on improvements. The Welling ton Harbor Board is entitled to credit for ful filling these duties. We have called the deficit a bigus one because during the single year covered by the working account there has be( n paid to the Wellington Corporation the sum of £#)o, which represents the capitalised value of the unnual maintenance of an important roadway in perpetuity. Htd this amount been spread, by means of a suspense account, over a term of years, in plaoe of being charged to the year in which the payment was made, the deficit would have been converted into a profit balance. There was paid during the year £10,017 for interest, £;J,O(K) in respect of sinking fuud, and £10,076 was written off the value of structures, the money being expended in repiirs, renewals, extensions, and new ap pliances. The accounts thus show the Wel lington harbor bonds to be well secured." PERSONAL AND OENEEAL. Mr " Jack" Baillie, the popular yourg Wellington artist, arrived Home by the Cuzco the other day well supplied with letters of introduction, and is already making many acquaintances in literary and art circles. If these do not prove practi cally useful they v/ill, at least, give him a good time and something to talk about when he gets back to New Zealand. 