DUNEDIN.

Cromwell Argus, Volume I, Issue 13, 9 February 1870, Page 5

DUNEDIN.

(Frjm our own Com-zpyndcnt.) February 3, 1870

The Duiicilin worl-1 is in ;v state of stagnation. Commercial failures anil wet weather have conspired to cast a ilanipor on the suirits of tlic inhabitants. Within the last ten days no less than three mercantile houses have gone to the wall ; ami ami Far-seeing men shake their heals aivl whisper of more trouble to oomo.

The great speculation of the dny is flax. Every week He.;.-? sum;: new dresiing ostab.ishniciit .started, ami all the conveniently-situated flax land in the Province is being rapidly taken up. A new feature now arises in lan I sales, i A few years sinee tlie cry amongst settlers who j , were blessed (or pestered) with asuporabunlance ! of llax on their property, was, "Cut it down : I why eumbereth it the ground ?" but nowa-days, I when ll.iv land is to be sold, the fact is mentioned ias a special inducement to purchasers. The stron'est p >int in favour of the ultimito success of this inluatry is that the market for it, lioth hero and at home, has constantly bjcn improving, and has never yet exhibited the slightest downward tendency. It is evident, from the extremely high price (£IOB per ton) that some re-drossed flax rccoutl/ realised at hj mie, thit there, at any rate, it is now being usjd in some more elaborate manufacture than ro.ie-m iking One would think that £.'{<> a ton here f >r msirhin :■ dressed (lax ought surely to leave some margin 1 for profit, when it is remembered that the Maoris I arc aide to prepare it hif hnii'l. for the same price. A rather curious case was brought before the Court the other day. A Hat-dressing oslablisli- : monk and a brewery arc both working on the Water of Ficitll -the latter nearest the in intb of \ the stream. The brewer complained tint the 'water was faintel and until, for his purposes after flax had been washed in it. '\'Um unfortunate ph irni'Um. tains, man was in ennse--1 queivjo lined, an 1, I presume, will now liavo o : seek other qua'.'tors. The verdict has caused ! ond''cable indignation amongst certain e-:-I treme teetotallers, who co nplain of the aipprjssion of a useful manufacture and the encourage- : ni'jnt given by the Const to a ponvcijus or.e.

T io o nisfcrnoMo i if tlio ti'x: ruhva,' in Otvjo, yi/,., that lu weal i).iii;liu and I'n.'i, ('hilutent, U, I run iitfir ii;l, ti» Ims U'ttnmuiiusuil in tho course of ii tew weeks. iS xmm g is believing. Had Wd o/odifcod former reports, wo might lnv« expected tft luvo Beoti this rwilway fairly under woigh l>v tliis- time. However, there is little douht tint before-long operations will lie: eonini;noc I, m the agreement was formally siguuil list Frit! »y, an I .€.">(>.K> deposit Imigod with" tlio llovoriuuont ;it the auuj time hv the contractor.

There is groat talk just now of the discovery of a valuable iiuartz-roof on the- Maerewbenua. Alluvial digging has been carried on in tho neighbourhood for some time past, aiwl 1 understand tTie ilhMot has hem carefully prospected. However, the present reports are of a must glowing and hopeful naCure. The Duuodin Theatre is now closed. The goods, chattels, belongings, and contents of th ; whole range of buildings, including fcho Provincial Hotel, have fallen under the merciless hammer of fcho auctioneer. Nevertheless, in a theatrical and musical sense, Dune lin is not at present wanting in attractions. The t'araudinU h-ive again appoare I on the scene to warble away our senses, and Thatcher is- drawing crowded houses at the Masonic. HnSI. The would-be aristocracy of the town are again smarting from the elFcets of his keen satire and cutting wit. None are safe from his darts : even the Superintendent himself comes in for a due share cf his raillery.