Interprovincial Items.

Hawke's Bay Times, Volume 15, Issue 787, 16 May 1870, Page 3

Interprovincial Items.

AUCKLAND. [FROM OUR OWN CORRESPONDENT.! May 12th, 1870. The departure of the second ship on the Californian route, with a full complement of passengers, has given rise to sundry rejoicings and triumphal articles in the Auckland press. The non-arrival of the Wonga Wonga on the leturn trip, until after the departure of the Phoebe from the Manukau, however, has acted as a slight corrective. The Phoebe was detained from Friday till Monday afternoon, expressly for the purpose of carrying the southern portions of the mail, and was scarcely (if) clear of the Manukau, when the Wonga Wonga was inside tho Hauvaki gulf, and nearly in sight of Auckland. Only two passengers came from Honolulu, but more could not be expected in the first ship, without much previous notice at the eastern end of the route. Several small failures and one large one, have been reported ; in the latter case, the liabilities were variously stated at from £25,000 to £30,000. A composition was offered, and it is understood will be accepted. The heavier a man gets in, the more likely he is to get off easily, as the creditors are terrified at the loss, and know that the legal fraternity will eat up a large portion of the assets, if they obstruct the bankrupt's course. The nomination for Parnell is to be to|day? Mr Reader Griison. Wt>o4 is up, and

will probably be elected; although attempts have been made, principally by adherents of the to bring out an opponent and contest the seat. Mr Wood is a man of ability, above the average of our public men, but he is not personally, popular ; and it 13 more on personal than public grounds that opposition is offered. He was defeated at the last election for the Provincial Council, at the hands of the same constituency. It was also some of the same party who went up to Manganui, and raised an unexpected opposition to Mr Gillies there; one of the principal of the movers in that opposition being an ex-official, who was allowed by the late Superintendent to receive and disburse public money, wi hout even rendering any' account of it. Our gold oxport has averaged about 12,0000 z. monthly this year, which is slightly above the average of last year, but the bursting of the scrip bubble has set a great deal of the ground at liberty > and will give the district a fairer trial than it has had for nearly two years past. The late Superintendent issued a code of leas-ing-regulations, which were evidently calculated to favor the company-promoters, and to retard the development of the mining. No amount of palaver from deputations from miners and mining committees could induce him to alter those regulations; under which the ground was locked up, and men of straw were able to manufacture scrip to the amount of millions (nominal) and through the connivance of the Auckland press were able to pass a deal of it off to the public. Men who had some difficulty in raising £25, which was the sum needed in cash to start the game, then formed companies with capital stated at from £IO,OOO to £50,000, and awarded to themselves (the promoters,) scrip said to be paid up, to amounts varying from a few hundreds, to a few thonsands, euch man. Mr Gillies put a stop to that game immediately he got the powers delegated to him, by compelling applicants for leases to either man the ground or abandon it; in perhaps four cases out of five manning the ground was never intended by the scrip manufacturers. Of the general dissatisfaction existing, the prices at which scrip can be bought in some of the best claims is sufficient evidence. As nearly everybody in the Province who had any loose cash and hundreds who had not, invested in the Thames, so nearly everybody has lost by the speculation. Perhaps of evovy ten who speculated, eight have lost. Nevertheless the opening of the mines must have proved a benefit to the Province, and to many of the business men of Auckland great advantage. A return of 3,0000z5. of gold weekly is not a payable return for the labor expended in obtaining it; but it is better than nothing, and compared with the state of affairs existing three years ago, when we had numbers of unemployed and almost destitute, is a public advantage; but to make tho field a really payable one, the export should be at least 25,0000z3. per month. Winding up of companies is now the order of the day, and the fleeced shareholders in some of them are so verdant that they even allow the post of liquidator to be filled by the same person as originally got up the concern. This is something like following out tho scriptural injunction, "If a man smite thee on the right cheek, turn to him the other also."