VICTORIA.

Hawke's Bay Herald, Volume XXXII, Issue 10630, 8 June 1897, Page 2

VICTORIA.

[Reoelved June 7, 9.80 p.m.J Melbourne, Monday. Mr Aloook, the well-known eleotrioian, has peifeoted an artillery position-finder, whioh not merely determines the potitlon of every Ran on a fort bat oan be made to •Ignal, one at a time, the range bearing ot every Kan at tha whole of tbe batterlei at the Headß. It is claimed to be the most complete known method of artillery concentration, and will revolutionise big gnn defence. (Reoelved Jane 8, 12 45 s,m.) Mr Elder, the Melbourne manager of New Zealand Loan and Mercantile Aftenoy Company, »tatea that tbe negotl* atlonß taking place in Great Britain do not afleol the Company* bailaeis ia the colonies. (Received Jane 8, 1 tun.) Mr Elder explaioa that tbe New Zealand Loan and Mercantile Company 1 ! baelneßß in tbe colonies is outied on by means of traat aooounta speolally provided for in the memoranda of ssiooiatloD. With regard to the £2,600,000 worth of debentnre* and shares cancelled, he tayi £1,000,000 of thia will ultimately eooiue to'benefitthoee interested by means of tbe certificates for £1,000.000 held by trustee* against the new preference shares— should a recovery la the present realisable value of pastoral leourltles take place— and in« terest will be paid tbereoa In the meantime if earned by the company.