BRITISH AND FOREIGN.

Lyttelton Times, Volume LXIII, Issue 7563, 30 May 1885, Page 5

BRITISH AND FOREIGN.

PBT ELECTRIC TELEOEAPU —COPYRIGHT,] [Reuter’s Telegrams.] [Received May 29, at 1.15 p.m.] LONDON, May 28. It lias transpired that the Conference which was held on Wednesday between the Colonial Agents-General and the Senior Naval Lord of the Admiralty, was merely to ascertain how many torpedoes would he required for the defence scheme of each Colony. [Special to Press Association.] [Received May 29, at 10.30 o.m« 1 A FORTUNATE INYENTOIS. LONDON, May 28. Captain Brennan, of Victoria, the inventor of the torpedo hearing his name, has received a large amount from the English Government for his patent rights. [Received May 29, at 11 n,m.]COLONIAL SECURITIES AND WINES. The several Agents-General and Sir Charles Tapper, High Commissioner for Canada, are urging upon the Government the exemption of Colonial securities from Stamp duty. The Colonial Institute are also urging upon the Government the necessity of granting more favourable concessions in regard to the importation of Colonial wines. [Received May 29, at 9.50 p.m. | LONDON. May 29. Another picture by Mr J. E. Millais, E.A., “ The Ruling Passion,” exhibited at the Royal Academy, has been purchased for the Sydney Art Gallery. SHIPPING AND COMMERCIAL INTELLIGENCE. [Reuter’s Telegrams.] [Received May 29, at 1.15 p.m.J LONDON, May 28. The Directors of the Bank of England to-day resolved to reduce the Bank rate of discount from 2£ to 2 per cent. THE NEW ZEALAND LOAN. " Tenders are invited on behalf of the New Zealand Government for a loan of £1,500,000, at 4 per cent. Tenders close on June 4. [Received May SO, at 1 a,m. | Consols f higher than yesterday; to-day’s price, IOOf. New Zealand securities unaltered. Bank rate, 2 per cent; market rate, f. The total reserve in notes and bullion in the Bank of England is £18,400,000, an increase of half a million during the week; proportion of leserve to liabilities, 52 per cent. Colonial breadstuffs, Adelaide wheat, ex store, 36s ; Adelaide flour, ex store, £7; New Zealand wheat, ex store, 30s to 365. TENERIFPE, Mat 28. The New Zealand Shipping Company’s Eimutaka sailed this morning for New Zealand, calling at the Cape of Good Hope. [Special to Press Association.] [Received May 29, at 11 a.m.l LONDON, May 28. The New Zealand loan is already quoted at a premium of one and a half per cent. It is expected that the average will be about ninety-nine pounds.