NEWS OF THE WORLD.

Gisborne Standard and Cook County Gazette, Volume IV, Issue 484, 24 July 1890, Page 2

NEWS OF THE WORLD.

[by BLECTBIC TELEGRAPH —SPECIAL TO STANDARD.] « BRITISH AND FOREIGN. A serious outbreak of Asiatic cholera has occurred in a regiment of Ghoorkas stationed at Dharmsata. The death roll for two days numbered 42. Scotland’s share of the licensing fund is to be applied to local rates, that of Eng. land and Wales to County Councils, and Ireland’s to educational needs. The report circulated to the effect that Lord Randolph Churchill will rejoin the Ministry, is untrue. W. H. Smith denies that he is to be raised to the Peerage, and says he will seek re-election. The Duke of Cambridge has announced the sentences passed on the ringleaders in the Grenadier mutiny. One received a sentence of two years, and three were sentenced to eighteen months each. Colone] Maitland demands that he himself should be tried by Court martial. The Duke of Cambridge stated that he was disgusted nd ashamed of the Guards, and regretted that they wore the uniform of the Grena. diers. After twenty-five years connection, he disowned the battalion. When sentenced, those convicted of mutiny threw their medals across the parade

ground. The agreement between England and Portugal is almost concluded. It includes the internationalisation of the Zambesie. Portugal receives 800,000 square miles from Angola to upper Zambesie, and England takes the country from Zambesie to Kwassar, including the Shire district. Portugal retains the district from Kwassar to the coast. The frozen meat market has a downward tendency. The prospectus of the N.Z. Assets Company will be issued on Wednesday. The trustees are Sir John Gorst, Baron Schroeder, and Lord Henry Thynne. The articles of association will be signed on Tuesday. One million and a half t,'/2 debentures will be offered at 95, redeemable in 20 years, or at 103 if sooner. A large number of preference and ordinary shares will be retained for the Bank of New Zealand. None of the debentures are now obtainable under par. The globo assets are estimated to yield a revenue of ,£117,000. Everything is expected to be arranged early in the week. The capital will be £3,170,993, the exact amount of Mr Hean’s valuation. The Directors are Mr Jaffray (chairman), Messrs Hean, Ewen, Rome, and George. The bankers are Glynn, Mills, and Currie and Co., and the Bank of New Zealand The Times says that the floating of the Assets Company has removed the feeling of anxiety regarding the future of the Bank of New Zealand. Major George joins the Board on behalf of the Bank. The monthly citcular. issued by Westgarth states that a New Zealand Estates Company has been formed, and will issue debentures at per cent.

Bank of New Zealand shares, new issue, are at £8 15s; old £6 10s, The London Board has decided to accept the management of the Bank of New Zealand. Barings, one of the leading firms of financiers, are satisfied of the solvency of the Bank. At the wool sales to-day crossbreds were dearer, but other sorts unchanged. The wool market is excited, and prices for merinos are 5 per cent higher than those ruling at the close, of the May series.