THE BARQUE " MAGNET."

New Zealand Gazette and Wellington Spectator, Volume V, Issue 362, 18 September 1844, Page 2

THE BARQUE " MAGNET."

We regret to announce the loss of this vessel at a whaling station, called Ikolaki, situated to the south of Akaroa. She was cast on to a rocky shore and went to pieces in two hours. One of the crew unfortunately lost his life. She had on board about 50 tuns of oil, the property of Mr. John Jones, who was on board, and also money and property belonging to another passenger, all or nearly all of which has been lost.

This is the fourth vessel which has been lost at the same spot in the last three years. The fine brig Jewess, the brig Transfer, and the brig Speculator, are the other vessels to which we allude. The destruction of property in the loss of these vessels we suppose amounts to £14,000. In the last three years probably £6,000 in value for oil and bone may have been obtained from Ikolaki, of which not more th-m one third could have been profit. Here then is a sacrifice of £14,000 to obtain £2,000. The great evil which attends vessels visiting and being lost at such dangerous spots on the coast, is the discrediting alike the safe harbours and places on the coast, which may be resorted to, for the purposes of trade, without any great degree of risk. We think, on examination, it will be found that a large portion of the small vessels which are upon our coast are not fit for the service they are engaged in ; and all, both of fit and unfit, that are lost are wrecked at a very limited number of places. It would be well if some enquiry were made on these heads, for if facts of the kind be not established, the risk of shipping on our coast be greatly overrated, which will be attended will with high insurance and a reluctance to conduct our coast trade if any employment can be obtained elsewhere.

Mr. Hyam Joseph, of Messrs. Samuel and Joseph's, has in a most laudable and generous manner collected from a liberal public of Wellington, the sum of £77, for Capt. Lewis and sufferers by the loss of the barque Magnet, at Ekolaki, on the 3rd instant, which has been distributed in the following proportions : Mr. Curtis £15 0 0 Capt. Lewis 17 o 0 First Mate 17 0 0 Second Mate 7 0 0 Steward 5 0 0 Pour seamen 16 0 0 £17 0 0