STEAMER COLLINGWOOD - On Friday last, the 15th instant, the steamer Collingwood (formerly well known as the Kaloolah), when the property of Charles Thompson, Esq.) Was put up for sale under an order of the Court of Chancery, at the auction mart of Messrs. Wakefield, Coate & Co., in Toronto. The highest bidder was Captain McGregor, of Goderich, C. W., to whom the boat was knocked down at the low price of 1750 pounds.
It is a matter of great regret that the enterprise of the inhabitants of Collingwood, Owen Sound, and Penetanguishene in the purchase of this steamer should have met with so abrupt and unfortunate a termination, and the willingness and alacrity with which the stockholders entered on the undertaking, in the hope principally of benefiting their respective neighbourhoods was worthy of a better fate. Purchased about twelve months ago for 8, 000 pounds, and having had we learn, between 1, 000 pounds and 2, 000 pounds since laid out in improving her, she now has only realized at a forced sale to meet her liabilities, 1750 pounds, the result of which leaves the stockholders not only the total loss of their investment to mourn, but a further liability to anticipate.