The Evening Mail. FRIDAY, JANUARY 25, 1878.

Oamaru Mail, Volume II, Issue 541, 25 January 1878, Page 2

The Evening Mail. FRIDAY, JANUARY 25, 1878.

Mr. J- K. Brown, who was deputed to vf-d*- If ':■ .itl-r: • .-.:! ' •:.•* : ? f -f the directors of diepn.j.ctu t Oanarn Stone and Exporr Company, hrs jusr retr.ni-d to Oainarn. Wo understand that, although circumstances law militated against thedisposa of shares in the Melbourne, market, the Oam .rn st-ne is admiral =>y all who ar. i>. st capable «f jiid»iii',' as to its wJ value, and tlie c'ucuin.st nice that curtail, s ipni- nts wire d. livered in the Yic-oi-iaii ; capital damaged by salt water has creak • no prejudice in their minds. -Mi. Bkown could not have visit- d Melbourne at. : more unfortunate period, for Victoria, b in a condition little less than anarchical. The men who have mom y know how to hold it tightly under such circumstances, and would scare ly look at the most marketable stock at 50 per cent, discount on the rates that ruled but a month ago. There is a deadlock in Victoria at the present moment that will for a certainty affect prejudicially the commerce of the premier Australasian colony for years to come, and will render it futile to attempt the floating of the most rosy scheme for months to come in the Melbourne market. In addition to this insurmountable difficulty, Mr. Brown had to contend against the difficulty created by the non-registra-tion of the Company. It could scarcely be expected that in these days of " bubble" companies acute commercial men would, even under tlie moßt favorable circumstances, embark their capital in a Company that can scarcely be said to have an existence. Their position is very different from that which the people of this district occupy in regard to this matter. They would invest with the idea of obtaining some adequate return for their money, and perhaps with a sense of the advantages that would accrue from having an adequate supply of the stone, both of which appear to them at the present stage to be somewhat problematical. The people of this district should be, and no doubt are, actuated by a desire to develop one of our most valuable resources, and establish an industry that would have the inevitable effect of pushing Oamaru ahead in the inarch of commercial progress. That, the present crisis in Victoria once over, there would be not the least difficulty in not only disposing of the shares originally intended for Melbourne, but a great many more, we verily believe. The stone is in universal favor for its beauty and durability. We learn that all the leading architects are its sworn friends, and that Mr. Cosmo jSettbebry, tlie Government Analyst, has reported it to be the finest limestone procurable in the Colonies. This gentleman, whos* opinion is very valuable, has for years experimented upon the stone, and the result of his researches is that it is imperishable, and becomes proof against every enemy and impervious to water by exposure. The only question is the price at which it could be delivered. Messrs. M'Meckan, Blackwood, and Co. have, we believe, agreed to carry the stone in their steamers from Port Chalmers to Melbourne, for 12s. 6d. per ton, including landing expenses. This would enable the Company to dispose of the stone at a price that would ensure a large demand and a verj T handsome profit. We do not, however, see the necessity for the transhipment of the stone at Port Chalmers, except, perhaps, as a temporary measure. That the time is not far distant when we shall be quite independent of the resources of the intermediate harbour, involving extra trouble and expense, which lessens profits, we are convinced. Our harbour has now proved itself to be permanent and useful for all ordinary purposes, and little more than a hint would have the effect of ensuring the regular visits, of a fleet of vesvessels direct from Home and tlie other Colonies. There is a great future before the Stone Company ; but the people of Oamaru must put their hands in their pockets themselves if they expect the hearty co - operation of other places. Elsewhere we give a correct account, hitherto unpublished, of the meeting lately held in Melbourne- at the instigation of Mr. Brown.