LATEST FROM THE WEST COAST.

Otago Daily Times, Issue 1051, 3 May 1865, Page 5

LATEST FROM THE WEST COAST.

(FkOH A. CORRK9POKDENT.)

llokitika, 27th April, 1865.

Since the news conveyed to you by last steamer, there is little of importance to communicate. In addition to the 10,000oz gold shipped per Omeo, 3200 have been, despatched to Nelson per Maid of theYarra, from the Union Bank. No further Escort has arrived, but the news from the Gold Fields, upon the whole, continues favorable. Several new rushes have taken place during the week, the principal being; towards the South, to the river Totara and neighbourhood. We hear of no heavy finds, although the color continues to be got everywhere. In the Township, matters appear to be finding their level. The idlers are daily becoming fewer in number, and the place wears a more settled aspect.

Building continues to progress rapidly^ and amongst the late erections may he noted, the Corinthian Hall of Mr Joseph. Harding, of your town, a very large and substantial building ; as also the hotel of Messrs Bates and Co, likewise of your town.

In mercantile matters business is dull, with every every prospect of/ its becoming more so. In addition to stores already overstocked with goods, some 14 sail of small craft safely crossed the Bar this forenoon^ with an aggregate tonnage of 800 tons, bes;des considerable anticipated supplies from Melbourne, Tasmania, Nelson, and the other Provinces of New Zealand. Speculative shippers stand to lose money, as from the quotations annexed your readers will see, there is no margin on goods when the ruling high freights, &c, are added, and the mercantile portion of your community cannot act with too much, caution in shipping to this market. The damage done to the steamer Bruce, ofDunedin, in consequence of her being snagged on the river, has been repaired, so that she is enr.'iled to convey passengers on. board the Gothenburg to-day.