LOCAL AND GENERAL.

Poverty Bay Herald, Volume VIII, Issue 1495, 7 December 1881, Page 2

LOCAL AND GENERAL.

Mr. C. S. Hughes, one of the Directors of the South Pacific Petroleum Company, will arrive here next week from Sydney. It is presumed that lie is coming over on the business of the Company, but our inforinent is not able to say.

Some of our timid speculators are bitine their fingers about Southern Cross shares ; a strong demand has mt in from different parts of New Zealand, no donbt caused by the reliable information always afforded by this paper. Prices have be»n steadily advancing, whilst sellers have been receding, until a considerable gap exists between the two, which, from appearances, will cause buyers to r^ise their bid, which Stands at present really at better than four shillings. The latest news from the Southern Cross Company's works, at Rotokautuku, is the most important wo have yet had from the oil fields. On Friday last tho rock was struck at 125 feet, the tubes being said to be perfectly plumb, an oil vein was passed in the sinking at 100 feet showing very well, since which the quantity has not been so great, as it has been tubed up, but it. is still brought up in the sand pump. During Friday night, after striking the rock, all hands were aroused by a violent explosion of gas, which, however, did no further damage than to scare them and smash the cable of 7-inch ropo ; with the forethought the directora have so consistently displayed no stoppage on this account will be made as ample stock is on the ground.

We see by advertisement elsewhere, that some of the friends of John Day, who, with his wife and family, have been laid up with sickness, and consequently unable to work, have undertaken to get up a concert and entertainment for their benefit, which will shortly bo held.

News reached here this morning that tho Court of Appeal in Wellington delivered a judgment yesterday in the vow famous case of Hees and others v Barker in favour of the defendant — Mr. Barker, aud general satisfaction was expressed at the result. We understand that the Court of appeal has hold that all the issues raised by Mr. Rees to be quite immaterial, and that admitting the truth of them all he is entitled to no relief from the Court. All the Judges held that Mr. Barker could move for a decree to sell the Whataupoko Block in satisfaction of his claim and costs. Tiie expected trial will not take place now, aud the defendants solicitor, Mr. Finn, has countermanded all subpoenas issued to witnesses to attend the trial on his behalf.