SYDNEY.

Otago Witness, Issue 878, 26 September 1868, Page 21

SYDNEY.

(PEOM OTTE OWN COEEESPOITDENT.)

2nd September.

The great increase in gold mining speculation which has lately taken place, has of course produced a corresponding advance in the value and consumption of quicksilver. It seems probable that we shall shortly be in a position to dispense with importations of this expensive metaL A very rich lode of the red oxide (containing 85 per cent, of mercury) has been discovered on the Cudgegong, near Rylston, and the production of the pure metal will be immediately commenced. Quartz reefers will note this intelligence. I mentioned in my last communication what was considered an excellent yield from some quartz on the Gympie Reefs — 411 oz. of gold from 48 tons of stone. But this was a mere trifle in comparison with the results of a recent crushing — 50 tons of stone from the Lady Mary prospecting claim (also at the Gympie) returning the splendid yield of 3443 oz., an average of nearly 70 oz. to the ton.

The latest country news tells us of splendid harvest prospects, and of an immense increase in the cultivation of the sugar cane. The next year's yield from the Clarence River alone will be certainly not under 900 or 1000 tons, representing the produce of some 300 acres ; and the whole area of land put under sugar cane will be at least 2000 acres. The farmers in that district, the capabilities of which for sugar growing are now beyond a doubt, have entered eagerly into the cultivation of the cane ; while the capitalists of Sydney are also preparing to come forward. A magnificent piece of ironwork, in the shape of a sugar mill, has recently been constructed here, and has been the object of a special visit from His Excellency the Governor, accompanied by the Premier and the Colonial Secretary. There seems little room to doubt that Sydney will become, in a few years, the great sugar market of the Australasian Colonies.

As regards squatting matters, I cannot do better than quote the following monthly report from a leading stock and station agent in this city, published in to-day's papers :—: —

The season, on the whole, has been favourable for pastoral pursuits. In some few localities there has not been sufficient rain, but generally there is good grass and a fair supply of water. Notwithstanding, the squatting interest has been decidedly depressed, and prices for sheep, and sheepstations, have ruled lower than they have done for many years, arising mainly from the unprofitable results caused in & great measure by the extravagant and careless system of management, induced by undue monetary accommodation. Thi3 is now being remedied, and a better tone is manifesting itself ; our monetary institutions, on the one hand, are acting with great discrimination, while, on the other hand, the squatter who would hold his own, sees the necessity of greater economy and care. The transactions in station property have been limited, and consisted;; chiefly of forced sales, in most instances at very low prices, and which should prove very good investments. The frequent changes in the land regulations in these colonies have had an adverse effect upan squatting property, deterring European capitalists from investing to any great extent. In Queensland the Legislature has sought to remedy this by giving a fixity of tenure for ten years in the settled districts for one half of the run, the other half being thrown open for immediate purchase at veiy low rates, and upon deferred payments, but clogged with many restrictions. But as the revenue will be inappreciably benefited thereby, there can be little doubt that a different system of alienating the Crown Lands will ere long have to be I adopted there as well &s in this colony. By

last advicea from England, a pastoral company has been launched under decidedly influential auspices. Its field of operation will be chiefly in Northern Queensland. It is to be hoped the enterprise will be attended with success, in which case we may expect to see large amounts of English capital sent here for investment. The sales of stock have been unusually small The supply of grown cattle is very limited, and were it not for the great abundance of sheep, prices would advance considerably. Large numbers of sheep have been boiled down this Beason : the result has not been encouraging, and shows the returns from this source have been over estimated. Sales of wethers have been made at 4s to 5s 6d shorn, and 6s to 7s 6d in fleece. For breeding sheep there has been no market. The season's clip of wool generally was very faulty, seedy, and badly washed. In some instances there waß marked improvement io the get-up, and the beneficial results of hot water washing have been fully established. Prices have ruled very icw, especially for faulty wools, attributable to the excessive supply of this description of wool. It is more than ever evident that if our pastoral friends do not adopt improved systems of management, the sooner they discontinue their operations the better for themselves.

Sydney has worn mourning lately for a noble gentleman and a most exemplary priest. On the 22nd of August last passed away the Venerable John M'Encroe, Roman Catholic Archdeacon of the Diocese. Old and feeble, worn with service, he had long been slowly sinking, and a severe influenza, followed by inflammation of the throat, took him away amid the tears of all who knew him. Born in 1795, and sent to this colony in 1832, he resided here thenceforward to his death. Firm in his own belief, but tolerant to those who differed from him, he was never mixed up in the contentions of politicians or of bigots ; and he never appeared prominently before the people, except in promotion of some good end. "He went about doing good." The excitement which followed Mr Parkes's celebrated declaration about the conspiracy was universal. Numbers of letters have appeared in the papers, some abusing Mr Varkes, some chaining him with inventing his facts, and others praising the statesmanlike circumspection which they say he has displayed throughout. A monster meeting was to have been held, convened anonymously, of course, by the hon. gentleman's enemifts, who are 'chiefly of the Roman Catholic profession. This design was wisely discouraged, however, by the Catholic Archbishop Polding ; and on the day appointed for the meeting the authorities of the Hall applied for refused to let it. Of course, there are loud demands for full information directly upon the meeting of Parliament, which, according to present intentions, will take place on the 15th inst. It is not likely that Mr Parkes, after disclosing so much, will hesitate to complete his revelations.

A Society has lately been formed which, if properly carried out, must have a beneficial effect in consolidating the distinctly national interest here. It is called the "Australian Patriotic Association," and has for its object, says the prospectus, "the promotion of the political, social, and literary interest of all native-born Australians, and of those feelings of good fellowship, brotherhood, and unanimity among them which it is much to be regrettedhave not hitherto existed. " The Association, continues the prospectus, is founded in a liberal and patriotic spirit, repudiating other combinations, which embrace and imitate foreign and sectarian principles and prejudices. Of course, one great object of this union is to return native-born representatives to Parliament — " Men who, although possessing the necessary qualifications for public and political life, have heretofore, through want of unity of action among their countrymen, stood aloof, and remained in obscurity." "By united action in returning our countrymen to Parliament, the monopoly which now exists, not only in the high, but minor offices of the Government, will be discountenanced, and equal rights founded upon substantial justice, shown to the native-born Australians in the distribution of public patronage." Office-bearers were elected at a meeting held on Monday (Mr Driver, M.L.A., being elected President), and more than 100 members were enrolled.

The Students of the Sydney University have instituted annual boat races. The first of these took place last year, and was won by students of the third year against second and first year men, the boats being heavy four-oar gigs. On Friday last, the second affair of the kind came off, the competitors being the nonresident students on the one hand, and on the other, the pick of the men in residence at the College. The former won. easily. The beginning is a small one certainly ; but the institution will grow rapidly, and before long we hope to have an annual University regatta, which will, of course, be of service in the development of " muscular Christianity."

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