PORT OF GREY.

Grey River Argus, Volume XII, Issue 1262, 15 August 1872, Page 2

PORT OF GREY.

HTGH WATSB. Tras Dat— 6.43 a.m. ; 7.31 p.m. ARRIVED. August 14— Nil SAILED. August 14— Tararua, for Nelson . J2T THB ROADSTBAD: Canterbury, from Lyttelton Garibaldi, from Lyttelton CXPKOTED ARRIVALS. Garibaldi, from Lyttelton Wallace, from Nelson Albion, from Melbourne Charles Edward, from Westport Jane Anderson, from Dunedin Canterbury, from Lyttelton Rangitoto, from Melbourne Albambra, from Melbourne Gem, from Hobart Town VESSELS IK PORT. Dispatch, tug-steamer Isabella, from Lyttelton Wallabi, from Wanganui Murray, from Nelson

It is supposed that the s b Tararua, which came on to the Coast during the first of the fierce southerly gale which blew all Tuesday night, has proceeded to Nelson, though there ii a bare possibility of her having stood out to sea, and of her making her appearance in the roadstead within the next twenty-four hoars. It in to be regretted that the Tararua was not despatched from Hokitika on her arrival, seeing it was impossible to tender her there, as at this port the signals for working the bar were shown, and, had she arrived sooner, there would have bean time to tender her. It happens unfortunately that the s s Albion had left Nelson in the afternoon, else she might have been advised ofthe Tararua's inability to land her cargo and passengers. and they might have been transhipped at Nelson. The p s Wallace, it is understood, has returned to Nelson from Wertport/aud the Murray and Wallabi remain here, expecting to leave to-day, the fearful weather which nas prevailed for the last twenty-four hoars now giving signs of moderating. With reference to the success of steam snipping companies in New Zealand, the Wanganui Herald says :— «• The Wellington Company paid something like 70 per cent per annum at their last meeting. The sbares are at the nominal value of LIO, but only L 6 we believe has been paid up. The consequence of the extraordinary division of profits •m* that the shares went np to Ll4 10s, at which price they were sold nnder the hammer. Many of our readers remember the old company, with its litigation, its shares unsaleable at a discount of 70 per cent, and its general bad fortune. A change has come over the spirit of the dream ; the fortune is now as bright as it was bankrupt a few years •go. The Wanganui Company has also experienced a change which the shareholders will receive with thankfulness. Without making any calls upon the shareholders, the company has now two vessels instead of one, The St. Hilda has been paid for in seven or eight months out of profits, and is now\earning veiy nearly as much as her sistenboat the WanganuL A short time ago the very reprehensible and unbusinesslike practice occurred of returning a portion of the capital, and the shares now stand at L 7 os paid up, the nominal value being LIO. Daring the last few months the company has contended with many difficulties. Yet, in spite of every adverse influence, directors have decided to declare a dividend at the rate of 20 per cent per annum on the last half-year's operations, leaving sufficient in good and available book debts to pay for repairs which the Wanganui most soon undergo."