LATEST FROM SYDNEY.

Otago Witness, Issue 44, 20 March 1852, Page 3

LATEST FROM SYDNEY.

(From the M. -If. Herald, February 4th. )

There is but small spirit in commercial transactions here, although markets remain tolerably firm. Flour cannot be quoted under £13 to £15 per ton. but investments in this and other commodities are limited to purchases for consumption.

The effect of the news received from England, and the importance attached there to our gold discovery, has been to raise the market price of gold, and it may now be said to realise an average of £d 4s. to £3 ss. per oz.

Mr. Thurlowhas been elected Mayor, after a rather smart contest, conducted, however, on personal feeling only, as, so far as principle was concerned, the people of Sydney were utterly careless of the result of the election. I believe that Mr. Little will dispute the legality of the election, on the ground that, as the act does not provide for the substitution of any other person than the alderman as returning officer, they were incapacitated from being candidates.

The weather is oppressively hot. After three days' continuous rain, we were yesterday favoured with a vapour bath of the most out-and-out description : the sun bursting forth with tremendous power, greedily sucking up the dampness of the earth. The evening was sultry again, and the slightest motion became a positive nuisance; streams of perspiration running down the face of every unfortunate wight whose calling for the nonce was not perfect rest. Last night another rain cloud gathered over the city, resting upon the hills in awful threatening of mischief; and soon after ten p.m. down came the torrents of water in furious rush to the ground, swamping everything. .The lightning was incessant, and the horrors of the night were revealed, from moment to moment, by the livid flashes rapidly succeeding one another in almost playful mockery of the elemental war. This morning the .sun is out again, and our vapour bath is resumed. Verily, ther? be some inconvenience in your " fine climates." But the city wanted washing, so we don't grumble.

The Council at Sjdney is prorogued after a session of severe woi k. T« enty-four Bills have been passed and absented to, and an address to her Majesty prepared, stating the willingness of the Council to provide for the whole cost of the Colonial Government, provided the management of all the revenues be entrusted to them, and a constitution established similar to that of Canada. The new Postage Bill, abolishing the tax on newspapers, had given great satisfaction.