LATEST SOUTHERN TELEGRAMS.

Auckland Star, Volume VI, Issue 1662, 16 June 1875, Page 3

LATEST SOUTHERN TELEGRAMS.

WELLINGTON.

(From ©ur own Correspondent.) This day.

Rimutaka Tuimel. It is reported that the Eimutaka tunnel is getting forward rapidly. The contractors have commenced work on the Wairarapa side now. The rock is very soft, but wet. From fifteen to twenty feet per week is the rate of progress. The Four Million Loan. The Post to-night recurs to the raising of the last loan, and says that one peculiar feature of it was that it was all raised at once; but now that the money has been obtained, it wants to know how it is being utilised. In the meantime, and while the colony is paying interest on it, is it tied up in a napkin and buried, instead of being judiciously invested. It expresses belief that Mr Vogel has deposited 3 millions with the Bank of New Zealand at something less than 3 per cent interest-2£ per cent. It does not think the colony will be satisfied to borrow at 5 per cent., and lend at 2J, which, on a 3 million transaction, represents £75,000 thousand loss annually. Sufferers by the Wrecks. The names of those lost in the William and Mary are :— Andrew Murray, mate, about forty years, and a native of Ireland ; Louis Bathurst, A.8., about 28 years, Dative of Italy; Hugh Sinclair, A. 8., about 22 years, native of Scotland; Daniel — > about 28 years, a native of Ireland.