INDIA AND THE EAST.

Grey River Argus, Volume XIV, Issue 1734, 24 February 1874, Page 3

INDIA AND THE EAST.

Colombo, Jan. 16. The Liverpool Star line steamer Arcturus, homeward bound, with full cargo from Calcutta to London, struck on Gindurah Rock, near Galle, on Monday, 20th December, got stranded, and next day slipped off the reef into 16 fathoms of water, entirely disappearing. The vessel's papers, chronometers, and a few case 3of tea were the only things saved. The Arcturus was to call at Colombo, and in endeavoring to make a rapid passage kept too near the shore, and ran full speed on the Gindurah Reef. She immediately tilted over to port, with 10ft of water in her hold. Eftorts were made that afternoon to land part of the cargo, but without success, though the weather was fine. No lives were lost. The Arcturus was a favorite passenger steamer, having established a first-class reputation for speed and comfort on the Canal line. She had made one of the fastest passages on record between London and Colombo. At a court of inquiry, Captain Theakstone's certificate as master was suspended for 12 months. The cargo of the Arcturus included 450 tons of tin, 300 tons rice, 250 tons hide, 250 jute, 190 shellac, 205 indigo, &c. Coffee is still rising in price, middling plantation being not quoted in Colombo at over 130s per cwt. Large contracts are being made for Ceylon crops, deliverable early in 1875. The threatened rice famine throughout Northern India is assuming a less serious aspect, and although scarcity may be felt towards the middle of March, yet it is expected that Government will fully meet the crisis. In consequence of large investments by the Government in the. purchase of rice, there is a great demand for specie in India, and a monetary crisis on a small scale is threatened.