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[From Our Parma mestaby Reporter. 1 WELLINGTON, Jolt 18. Conversion of New Zealand Stocks. Concerning the rumor I sent you late yesterday afternoon, tr»o Ministerial organ in a leading articlo today taya:—''A rumor was current in tho lobbxs yesterday that a very important financial operation is pencirog. It was to the effect tint the Givornnu-nt are negotiating with the Bank of Kngsard for tbe conversion of debentures to a large amount—l.3,ooo,ooo, according to one infoimant—into tho new 3-J per cent, inscribed stock. TLh would, of caurse, be the first issue of New Zealand 3h per cents , at.d, if successful, would manifestly be highly benefit ial to the colouy. Wo are unab'e to say whether or not the rumor is wellfounded, a? it would obviounly be most improper and indiscreet for the Government to furnish any information on tho point, supposing such a ssheme to bi in negotiation, until the arrangement should be completed. If there bo any truth in tho report, which m very circumstantial in its particular?, it is a serious scandal, as veil as exceedingly unfortunate, that tho actual secret should have been discloted. There must havo been in that caae disgraceful treachery go.T.fwhere." 'i he Shop Hours Bill.

To meet the objections of Messrs Ballauce, Fihli, and Perceval to tho Shop Hours Bill, Mr Joyce has agreed to introduce a permissive clausso in committee, making it optional with local borough councils to fay whether it shall be brough: into opjrat on or not. Tho committal is fixed for tbe ~>th prox., aud tho member in charge is sanguine of getting it through. The UOrarlanshlu. Tho Library Committee today considered a telegram from Mr Colliers medical adviser at Auckland stating that ho would be in a position to resume his duties a* librarian in three months. The Committee agreed to grant him leave of absence for four months on full pay. Jottings. Mr Downie Stewart lraa been appointed chairman of the Committee to whom the Chattels Trans'er Bill has been referred, and Mr M'Arthur chairman of the Public Accounts Committee. 1% is understood tl a"; the latter committee had the lomi conversion proposal kfore lh;m tc-day, but rrexbers ere bound 10 seciecy, anl must not liacloso what is being done.

UuV.l reccr.tiy hand magnifiers and reading glasses were examnt from duty, and, though no provision was repde iu list session's tariff, duty is now b=ing collected thereon. Acting in the interests of tho leading importers at Dunedin. Dr Fitcbctt and Mr Ross have been interviewing tho treasurer and secretary to the Customs, who have promised to give the matter favorable consideration. The Otaso Central.

A new development of the Otago Central Railway Fill has just been brought under ray notice. The Mayor of Dune din wired to Mr Pyke to know whether it was desirable to pet up a monster meeting in Dunedin in favor if the Government proposal, and tho member for the Dnnatan, without consulting those lion, gentlemen who have persiatently supported his efforts in the direction of the prosecution of this work, replied affirmatively, pronrning to forward resolutions to-morrow. The City and suburban members, includ ng the Hon. Mr Fergus, Mr Fulton, and others, greatly deprecate this step, for it must be patent to ysur readers that similar agitations would ba got up in Hokitika, Greymouth, Auckland, and other centres where railways stand in an uncompleted state, with a ?iew to getting them constructed under the principle pioposed in the Otago Central Bill. The object of the Dunelin citizeus would, I feel sure, be defeated by holding any public incetiDg as proposed, and if desirous of acting iu their own truo interests the movement will at once be abandoned,

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POLITICAL GOSSIP., Issue 7962, 18 July 1889

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POLITICAL GOSSIP. Issue 7962, 18 July 1889

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