I inadvertently omitted the following when referring (p.p. 12, 13 here-[unclear: n] to the sale of the "Wallace" steamer, and in the absence of figures [unclear: and] dates, at present mislaid, I must confess to being obliged to supply [unclear: these] from memory; but am convinced they are approximately correct. [unclear: The] "Wallace " was, as I have said, earning about £3000 per annum. Mr. Mills proposed to lay her up and " put new boilers in her and i [unclear: niase] her deck cargo accommodation." Of the two directors, Messrs Malcolm and Darling, whose opinion ought to have carried weight, one certainly was, if not both, strongly opposed to this; but Mr Mills' [unclear: plans] were not to be thwarted—she was taken off this profitable trade. [unclear: Mr] Mills' "Maori" did the work instead. In eight months the [unclear: improvements] to the "Wallace" were completed, and soon after (I regret [unclear: I] can not just now give exact dates; Mr Mills doubtless has them) she was sold to Messrs N. Edwards ft Co., Nelson, for £5,000, the interest of legatees and owners then standing thus:—

Sale Price	£5,000
Less cost of improvements	£2,150
Less Loss of earnings for 8 months	2,000
	4,150
Net proceeds	£850