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New Zealand Times, Volume XXX, Issue 4479, 28 July 1875, Page 2

We perceive, from our Australian telegrams, that the Sydney Government have hung up the Pacific mail contract for the present. The alleged reason for the delay is the reported “ hitch” in completing the contract by the representatives of the Pacific Mail Company, in London. This company would appear to bo of a gluttonous stomach. It must have all or none; and it relies upon its charter, which forbids alliance with foreign capitalists. We wonder whether the directors of the Pacific Mail Company would decline to place a foreigner’s name on its share register, or refuse his money ; but in this case, as there would be a division of profits, an objection is raised, in the belief, possibly, that as New Zealand put up with Webb’s line, and made no attempt to enforce the penalties, it will make any concession to secure the services of an American Company. If any such idea as this has got into the heads of its Wall-street directory, the sooner the General Assembly of New Zealand dispels it the better. The New South Wales Parliament has postponed the consideration of a resolution approving the contract, on the motion of Ministers. We need bo in no special haste to confirm or reject it in New Zealand. In a little time there will be further developments, when action may be taken with some degree of safety. At the present time we are greatly in the dark regarding it.