TELEGRAPHIC NEWS.

West Coast Times, Issue 2479, 10 March 1877, Page 2

TELEGRAPHIC NEWS.

[r.EB PRESS TELEGRAPH AGENCY.J

Wellington, March 9. A special meeting of the Harbor Board yesterday afternoon considered the letter from the Harbormaster, stating that the sea had broken through the South Spit within a mile frooi the Heads, and tbe channel can be seen about a chain wide with a depth of five feet at high water at springtide. The force ot the surf having made through it a long sand spit out into the river about five chains, which has caused the river 4o silt up below the last mentioned spot and set the current in another direction." Mr Rees, the Resident Engineer, stated the cost of stopping the channel would be £7735. The Board resolved to apply to the Government for the beat engineering advice and give a report on the best means to be adopted to prevent further injury accruing to the liver arising; from its divergence from the ordinary channel. The Board and a number of others proceeded to -the place this morning. The Hon. Mr Donald Reid arrived this morning. Bradshaw reports— Bank of JSTew Zealand shares, £19 10s ; Colonial, £l 16s ■ New Zealand Insurance, £4 10s ; National! £1 10s ; and South British, £4 10s. The grain and wheat market contiuues in rather an unsettled state, but some large contracts have been made for forward delivery. Prime samples are quoted at 5s 6d to 5s 7d ; medium, 5s to 5s 4d ; oats, in good inquiry, at for milling, 2s 6d to 2e 8d ; seed, 2s 4d to 2s sd ; barley, none of the new crop yet forward. Christchurch, March 9. Wheat market declining. Millers and merchants disiuclined to operate except at heavy reductions on late rates ; 4s 6d is price offered for good samples. Statistics just published show nearly one million bushels in excess of any previous year ; oats, 2s to 2s 3d ; barley, 3s 9d to 4s Od ; flour, £15 to £16 ; cheese, 7d to 7id ; butter, 13d.