THE MAN ABOUT TOWN.

Auckland Star, Volume II, Issue 467, 10 July 1871, Page 2

THE MAN ABOUT TOWN.

No. V. The excitement still continues about shares. Those in the Caledonian and Thames, however, are getting somewhat firmer since the recent senseless panic. As to the cause of that panic, it is of course to be traced to a certain extent to the fallingoff of the yield for a day or two; but there is no doubt that the alarming and incorrect statements contained in the News had a great deal to do in frightening small holders to sell at a sacrifice, and these statements have been made in the most reckless manner, and certainly without much regard to truth. Dick tells me that there was a meeting of sharebrokers held at the Exchange the other evening, when it was unanimously resolved not to support the spiteful, ill-natured little publication that had been the cause of doing so much mischief.

But why should Tookey's go down even if the Caledonian and Thames had ceased to pay dividends altogether. Is Tookey's ground any the worse, supposing the Caledonian and every claim in the neighbourhood had been worked out. If the Caledonian reef was running through it before, is it not running through it still. "Why, then, should there have been such a depreciation in these shares ? The fact is, there's been a deep little game played here, which, in my opinion, is nothing more or less than a swindle ; and, had it been played on some goldfields, the prime movers would have been tarred and feathered, and served them very well right too. I have enquired carefully into the matter, and find that the affair was worked in this wise : A. and B. hold shares in Tookey's, which are up to £40 here, and firm at over £30 in Australia. A says to B, " Suppose we do a bit of rigging," and bring the market down. We might do it so as not to lose money, aud create something like a panic be.'ore the Hero leaves. She will, take the news. Shares will immediately go down on her arrival 10 Sydney and Melbourne. We will send a trustworthy agent to buy them up when they get to their lowest, and so we may make a few thousands." Bof course agrees—indeed, he would agree to anything in the way of mining that would put money into his own pocket—and the two commence to play into one another's hands. A goes to a sharebi'oker and tells him to sell Tookeys for him at any price, as he must sell. It is after office hours, and the sharebroker says ho' can't sell till the morning - says A, "Well, I'll leave one with you ; sell it for anything you can get, £25, £20, even £15." The sharebroker is astonished, but books the order. Very shortly afterwards —in fact we may be sure he dogged him— B goes up to the sharebroker, enters into conversation with him, and ends by buying A's share at £15. So they lose nothing ; the sharebroker reports that Tookeys have been sold at such and such a price, and A and B do their best to spread the panic. As a natural consequence, shares go down. The prices get quoted in tho papers, which are sent to Sydney, and thus shares in Australia go dorvn, and the Agent of A and li buys up It's a greai pity there isn't a telegraph between nere and Sydney, lo exposo the whole tiling before the agent arrives. I fancy he would get a rather hot reception.

I see by the papers that >^hine, tho escaped prisoner, has given himself up to the warders at Mount Eden Stockade. Considering the weather we have .had, I don't blame him—-and no doubt he knows from past experience where he is best off in the wintertime. It seems that Shine greased his wrist before slipping the handcuffs, and while the constables were looking another way. Put he soon got tired of his liberty.

I hear that Innes, who was convicted of embezzling the moneys of the Imperial Government a short time ago, is getting comparatively easy times of it, having been taken from hard labor and made a clerk in one of the departments of the prison. This, I have no doubt, will be more congenial employment for him—it must have been very wretched to have to herd with criminals of every kind after living in such society as that in which he was wont to move.

The new road at Parnell was opened to the public on Saturday. Dick tells me the contractors stood champagne in the afternoon at the Alexandra Hotel. This was, indeed, a burst of liberality, but no doubt they could afford it out of the " extras." Dick says, too, that the Parnell Board enjoyed tho champagne — the Stranger had lost his gloomy looks and was radiant in smiles as he looked into the flowing bowl. Among tho toasts proposed were " Off with the old road aud on with the new," " The Parnell. Board, and may it long stick together," " The unfortunate Ratepayers," " The Contractors, and may they soon get another job," and other toasts of a pleasing character.

I hear that the Superintendent delivered a lecture at the Thames on Friday evening on the subject of the "Government of the Country," but I see no notice of it in either of the morning journals Is Mr. Gillies so thin-skinned that ho has taken umbrage at their political sentiments, aud refused to supply them with a copy of his address ? Or do they consider, having seen it, that it is not worth publishing? Probably His Honor will repeat the lecture in Auckland, when we may get a chance of knowing what it was all about.

So the intermiuablc' case of Mohi v. Craig is finished at last, and a verdict returned for the defendant, against general expectation. Dick says that some people were almost foaming at the mouth at the result, and that the judge himself appeared greatly astonished. But it's been a good thing for the lawyers anyhow, for the costs must be enormous.

The letters which appear in the papers every day, signed by " Polly Plum," must be a splendid advertisement for that enterprising lady, fchc has certainly a great deal of " go" about her, and sees that it is greatly to her advantage to have a constant correspondence going on about her. Aud it is far more effective than a mere advertisement, for it is probablyread, which her advertisements probably would not be. I think I must try and get up a little excitement about my medicine : kill a man or two with an overdose^ and then fill the columns of the press with letters in defence, 'ihis is not a bad idea, and Dick wants me to act on it. . Nathaniel Beeswing.