THE PANAMA CONTRACT.

Westport Times, Volume III, Issue 454, 19 January 1869, Page 3

THE PANAMA CONTRACT.

We regret to see by the latest telegraphic news from Sydney thatthe Panama mail service may now be considered finally stopped, at least so far as the present company is concerned, the Government of New South Wales having accepted the surrender of the contract, and gazetted the same. The Mataura is to proceed home via Wellington instead of Melbourne, as previously arranged. We are glad to find, however, that with the exception of thes.s. Otago, we are not to lose the services of the intercolonial boats. M'Meckan, Blackwood and Co. have bought the steamers Tararua, Rangitoto, and Claud Hamilton for the New Zealand trade; the Otago hasbeen bought for the Fiji trade; and the Tararua is being overhauled. It is sincerely to be hoped that, if Messrs M'Meckan and Blackwood go more extensively into the New Zealand trade, they will see it to be to their advantage to make Westport one of their ports of call. The Cape l'oute agitation is progressing. At a meeting of the Provisional Committee of the British and Australian Steam Navigation Company, held in Melbourne, on the 22nd ult., the originator of the scheme, Mr Burstall, explained that he had compareds tho rate of the West India Mail Company* and had them checked by people acquainted with the working of various other companies, and then, after addiug ten per cent, he found that with a very moderate amount of passenger and cargo traffic, and with a very large allowance for tear and wear, the company's profit would be 10? per cent, per annum, not calculating on the subsidy which would be received for carrying the mails, and also what might be expected for Government emigrants. It was remarked that half the money subscribed in the colony was already promised, and that public opinion and the press were becoming so favourable to the fortnightly mail coming by the Cape, and so rendering more extensive immigration possible, that every confidence might be felt that the scheme would very soon be | completed.