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Grey River Argus, Volume III, Issue 196, 16 April 1867, Page 2

ml/ On her last passage from, the Buller the W' p.s. Dispatch had' a trial of speed with the p.s. Southland, which last vessel has been vaunted as the champion of the West Coast waters. Tlie result if iiot altogethci intivor -'" of the Dispatch was sufficient to cause those who witnessed her performance' to 'feel confident that on equal terms she could beat her redoubtable rival without; much difficulty. ..Jioth" vessels dropped down the Buller togcilier, tyut the Dispatch was first outside the ss, bar, aiid waited for the Southland, and ?t 2.50 p.m. full steam alieail -\yas made by both, and they ran neck and neck for about a mile and a quarter. Owing, however, to a failing ■wind and the wetness of her coals the Dis- ; patch was unable to keep up' a full head of steam, and the. Southland passed her and got ahead about a mile and a quarter. The Dispatch got a breeze again when off Pakihi, and P^ reached Fox's at 5.22 p.m., within two ininiitos of the Southland. The Southland vfas in better racing'trim, her topmasts being s(!i:uck, whilst the Dispatch did not even take her boats aboard. She left Fox's the same evening, and arrived in the Grey early on Saturday morning, leaving again in the afternoon witty a full cargo.and a large number of passengers. The.J\ .Z. S.-N-. Go s steamer. Taranaki, with mail from Wellington, arrived Grey on Sunday, and was tended' by tholf orsevere. After transhipping a small car«) and her mail she sailed again in the — cycling. "She-left Nelson on Saturday." r jHio wreck of t v o South' Australian was sold by auction on Saturday, by Mr, Hepburn, at Hepburn and Go's rooms, Mause "street". There was a large liumbcr. of persons present. The auctioneer announced that-what would be sold comprised — The wreck"! as it lay on the reef, four miles ~ north of Coal Point ; the five boats that bo- .; longed to the 'ship— three' lmjiletl upon the I . Ijcael'.^' :icar' the" wreck, one afloat 'in the ': neighborhood, ami one at Port Chalmers ; \ i and anything which had been got out of the \ { wreck, by the chief mate, after the departure L ■ of ihc. Geelc.ng. There wore two excellent tin the rhip's "deck. In reply tty<> a" question,- Jsr Hepburn-- saitl' that the of -the five boats^vas not guaranteed, anything else ; I'iut one boat was ccrlVi t Qhaimern. There was il: e nihie, \j: ; kd.Friday even-' " J have just Ken on o

the condition of the wreck since then— Tho first bid was of. Li 09 ; ami, in. advances of L 5, the sum ran up to LIGS. At that price, the '-'lot" was knocked down, the purchaser being Mr J. Samuel, of Manse street. — Daily Times. : We learn from the An/us, of the Gth inst., that the schooner Maid of- Erin entered outwards at Melbourne for Greymouth on tlie sth instant. The s.s. Qtago did not leave Melbourne till noon on the Gth instant. She cleared the Heads at 4 p.m., with strong southerly breezes and thick rainy weather. Passed Swan Island at 2 p.m. qn the 7th, and from thence experienced moderate south-east winds, arriving in the roadstead at 4 p.m. on the 11th, after a passage of five days and two hours. She was tendered by the Yarra yesterday, having laiided thirty-six passengers aud a little cargo, and received her outward passengers. She sailed for Nelspn direct at 4 p.m.— )f r qt Coast Tnnes, 13th instant. By the Christchurch papsrs, we learn that the Queen wag wholly uninsured, and that a private meeting of the shareholders o.f the New Zealand Steam Navigation Company has been held, when a reduction in the number of Directors from twelve to three or five was. recommended ; also, that any attempts at winding up should be, opposed. The Directors came to the conclusion, we believe, nearly a j r ear ago that it was not worth while to insure the vessels, as the premiums were very heavy and up to that time the company had not been benefited by paying them.