CABLE NEWS.

Hawera & Normanby Star, Volume XX, Issue 2431, 19 May 1893, Page 2

CABLE NEWS.

By Electric Tklesbapb. — Copyright.

(PEB PRESS ASSOCIATION.)

LONDON, May 18. Lord Onslow has been eleoted chairman

of the committee appointed to report on the question of marking colonial prodnoe. The Government decline to issue a fresh programme of naval construction; they consider the present position of the navy eminently satisfactory. . The Duke of Edinburgh is a heavy loser by the recent failures of Hallett and Company and the Commercial Banking Company of Sydney. The Treasury offioials oonsider it premature to appoint officers to confer with the Agents-General upon the question of minting silver and bronze coinage until the views of all the colonies have been expressed. This is regarded as shelving i tbe question. The Daily New s says tbe fall in colonial stocks is due to forced realization ol securities owing to money being locked up in various banks, and has no referenoe to future value. The Times, referring to the suspension of colonial banks, states that every creditor permits himself to be swept along with the wave of fear, and is doing his best to injure his own interests. The Arobbishop of Canterbury, in his address at the meeting against tbe Welsh Church Suspensory Bill, said the Church was really the Nation, and the bniider ot the proudest and most free institutions. The establishment of non-conformity was preferable to none. (Cbeere.) He went on to say that tbe Bill plundered tbe Churoh and did not provide a remedy. There are eighteen British shareholder*

in the Boyal Bank of Queensland, holding 1800 shares. The British deposits in the bank amount to £800,000, two-thirds of which are Scotch.

Day and Bylands, colliery owners in Barnaley, have failed, with liabilities estimated at a quarter of a million. NEW YORK, May 18. Serious floods are reported^ from Ohio and Pennsylvania, and enormous damage is done. - ■■ " BEBLIN, May 18. Prinoe Bismarck has published a veiled manifesto adverse to tbe Army Bill. City bankers and merchants propose to subscribe the costs of additions to tbe army to avoid Count Yon Caprivi applying to the Beichstag to overstay tbe crisis, whioh is ruining business. PABIS, May 18. Tbe Composition Funds Nationeaui, Paris, has failed for £1,000,000. MELBOURNE, May 18. The Attorney-General being of opinion that there is do direot evidence of conspiracy, or sufficient evidence of intent to defraud against Sir Matthew Davis and Mr F. T. Milledge, who were recently committed for trial on a charge cf con* epiraoy arising out ot tbe failure of the Mercantile Bank, the Crows has decided to enter a nolle prosequi in the case of both accused. Edward Yenekiq, merchant, has failed. Hiß liabilities are set down at £188,000, and assets at £56,000. SYDNEY, May 18. The miners working in three collieries in the western district given notice refasing to accept the proposed rodnotion in the hewing rate. Tney are willing. to accept a reduction of 2d, but masters desire 4a. Bioh alluvial gold has been found on tha Burra station, near Parkee, 264 miles wesk of Sydney, giving eleven pennyweights to the load. A rush has ret in, and a thousand men are already on the field. The Government received £800,000 in gold in payment of their accounts in tbe Commercial Banking Company, which has been paid iato the Bank of New South Wales. Tbe steamer Miowera, tho first of the line rnnning to Canada, sailed for Vanoouver today. She took about 40 passengers and only a trifling cargo. Mr Huddart states that the firm have ordered , a larger steamer for the trade.