COLONIAL NEWS.

Lyttelton Times, Volume I, Issue 29, 26 July 1851, Page 3

COLONIAL NEWS.

SYDNEY.

The Sydney Railway.—The Sydney Herald says," We have at length the satisfaction of announcing that a Despatch from Earl Grey has been received by Sir Charles Fitzroy, communicating Her Majesty's assent to the Act, incorporating the Sydney Eailway Company, and the confirmation by Her Majesty's Government of the permanent guarantee of four per cent. per annum, upon the first 100,000/. of subscribed capital, payable from the Land Fund.

His Lordship, we believe, suggests some amendments in the Act of Incorporation, which are not considered important. The recommendation subsequently made by the Governor, that the interest should be increased to five per cent, does not appear to have reached the: Colonial Office at the time that the Guarantee was under consideration. But the principal of a permanent Guarantee being recognised, there seemed

no reason to apprehend that the rate finallyagreed upon by the local Government will be confirmed, especially when the precedent adopted by the Eist India Company is considered." Five hundred pounds had been awarded to Mr. Hargraves by the Government for his discovery of gold. The gold fever was still raging, and a tolerable measure of success appears to have attended the exertions of the diggers. Markets, June 13.—There have been no sales .of any note since our last report ; the excessive demand for supplies for the interior which we noticed a few weeks since has altogether subsided. The trade continued to work off their surplus stock without any disposition in the meantime to incur further liabilities. At auction very low rates were submitted to for invoices of Oilmen's Stores, first-class goods, and well selected. —The cargo of Teas ex " Eoyal Sovereign," brought to the hammer on Tuesday, were for the most part withdrawn, though full rates were offered by speculators. The stock of tea is exceedingly light, yet offered at rates barely remunerative to the.: importer.—With Sugars, holders are firm, and stocks light in importers' hands, or those of the trade, but no sales are reported.—ln Tobacco, the trade await the result of a sale advertised for an early day ; prices have declined retail. Cigars are firm at late quotations.—ln Coffee there is nothing doing.—Flour is offering at the mills at thirty shillings per 100 lbs; at auction much lower rates were submitted to, and private holders; have evinced a desire to realize also at a considerable reduction on mill prices. Brandy is still a heavy stock, and offered at a gieat reduction on the late speculative prices. In Bum there are no sales to report. Case Gin is held for 14s. with little doing. Bottled ale and porter, and porter in wood, move but slowly. Ou the whole our markets have seldom been so lightly stocked, yet more inactivity or a greater absence of speculation we have raiviy experienced. The Mills.—Although but a moderate supply of wheat has come to hand this week, prices have declined, having ranged from Bs. to 10s. per bushel, according to quality. In flour a reduction of 31. per ton has taken place, prices being for fine, £'27, and for seconds £Q.b per ton of 2000lbs; bran, Is. to Is. 2d. per bushel. Maize is. worth from 3s. 9d. to 4s. 6d. per bushel, according to quality. Oats scarce, and quoted at 4s. Barley: Cape 2s. 6d. to 45., aud malting 4s. 3d. to 4s. 6il. Potatoes: Van < Dieman's Land £b to £6 ; New Zealand £'3 to £4, and Colonial £3 to £3 10s. per ton. Bread is now selling at 6d. the 21b loaf. Biscuit: Mr. Wilkie's prices are, for ship 355., pilot 375. aud fine 425. per cwt. Messrs. Barker's prices are without alteration—ship 365., cabin 42». per cwt. Sydney Morning Herald. VICTORIA, (late PORT PHILIP.) Through the kindness of Captain Javdine, of the "Derwent," we have received Melbourne papers to the Ist July. A notification appeared in the " Sydney Morning Herald" lately, to the following effect: "It is the intention of His Excellency the Governor General to issue the writs for the election of the members of the Legislative Council of Victoria on the Ist July. By the Constitutional Act this act separates Port Philip from New South Wales, and erects it into a separate colony. The existence of the colony of Victoria will therefore date from that day. It is just fifteen years since the bona fide settlement commenced."

Fuel. —The " Melbourne Advocate " says,— " As we-predicted several weeks since, the price of fuel in Melbourne is nearly one hundred per cent dearer than it was last summer ; yet such is the culpable apathy of capitalists, that no means have been adopted to resuscitate the dormant Coal company, or otherwise at once set about the laudable task of procuring a plentiful supply of coal to relieve the necessities of the poor, and and at the same time obtain a handsome remuneration for the money invested in a speculation certain to be profitable.

A public meeting had been held with a view to the establishment of a mission to the aboriginal tribes on the River Murray.

The Church Conference was sitting1 at Melbourne. A fitting digest of its proceedings would occupy too much space for publication in the present number.

Melbourne Wholesale Piuce Current , June 28th.—Wheat Bs. 6d. to 9s. per bushel; oats, ss. per bushel; bran, Is. 6d. per ditto; pollard, Is. Sd. per ditto; flour, first quality, 23Z, cash, 241. credit, per 2,000 lbs.; seconds, 211. cash, 221. credit per ditto; potatoes, 4/. 10s. per ton; maize, 6s. per bushel.

For hay, prices range from 11. 10. to 11. 15. Live Stock.—The supply of fat cattle at the market this week fell far short of the demand, good quality beef sold at from 10s. 6d. to 12s. 6d. per 100 lbs.

There was also a scarcity of wethers at the yards, throughout the week, and the trade have a very limited supply on hand, prices for wethers of fair quality may be quoted at from Bs. 6d. to 9s. per head, first quality wethers would sell at higher rates, hut they are very scarce, store sheep are much inquired for, and there are not many in the market. Sales may be readily effected at an advance upon last quotations.

There are several buyers in the market for good lots of Stoke Cattle, prices vary from 10*. to 15s. per head. A sale of a lot, all over 2 years, was effected this week at 16s. per head, to be delivered on the purchaser's station.

Working Bullocks sold this week at from 61. 105. to 91, per pair, bows, yokes, &c, given in.

Useful hacks sold this week at from 8?. to 15/. 155., rough hacks, from 4Z. to 61., and rough draft horses from 81. to 14/. 14s. per head, good draft horses are saleable at fair prices.

VAN DIEMAN'S LAND. (From the Melbourne Advocate.)

We have received by the " Shamrock," Van Dieman's Land news, to the 18th instant.

His Excellency Sir W. Denison, has been taking a torn1 through the country since the Council adjourned. He was invited to a public dinner at Sorell, which was accepted. The Rev. Dr. Lindsay, agent of the Van Dieman's Land Total Abstinence Association, has returned to Hobart Town, from a .tour through the Island. The Rev. gentlemen reports favourably of the progress of total abstinence, and the decrease of intemperance, at Bothwell, Green Ponds, Launceston, and other places he had visite.d.

■ Gox.iv-in Van Diem.vn's Land.—An experienced geologist of the sister colony, and one of the first to direct attention to the Bathurst deposits, has written to Sir W. Denison on the subject, and indicating the locality where the precious metal may be found in larger or smaller quantities. We have heard that the Local government is not anxious that a discovery of this kind should be made, and that an offer made some time since by a humble individual to point out the spot where he had obtained a sample of gold, was disregarded. Those disposed to search may How have the opportunity. It is positively affirmed that the country where quartz prevails, near the source of the Dement, may likely soon be changed from a solitude to a scene of busy toil. We say no more at present.

The Gold Mania.—We understand that instructions have been received here to buy up ull the spades in the market, also all the sheet tin, lead, zinc, and iron that can be obtained, to be used hi the manufacture of cradles—household articles which, have lately risen into great demand. Orders have also been received to purchase mercury, required for obtaining gold by the amalgamation process.