succeeds he will have much to be thankful for. If he fails what is to happen next? The Times does not seem inclined to favour the N.Z. settlers much and I suppose that is an indication of the views of H.M. Gov. Steward is gone down to Otago for the Champion Race and to look after his sheep run which is close on the Dunstan diggins. He writes that he has lost his money on the race but enjoys