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Nelson Evening Mail, Volume XIII, Issue 284, 7 December 1878, Page 6

JiJi l i | jji-ab=^_av=uai;!!^!ijj!Ji~-sya;«> — '.ssjass | A London telegram to the Times of India gives the following important particulars regarding the failure of the City of Glasgow Bank:-— "London, 4th October. la connection with the suspension of the City of Glasgow Bank, the city article ic to-day's Times says that Smith, Fleming, and Co. are liable for cash advances amounting to L853, 000, and for acceptances to the value of" 1900,000 sterling. Another firm owes the bank L770,000 for advances, and Li,6Q0,000 for acceptances. A third figures in the list for 11,200,000 for cash and acceptances. A fourth exhibits a debt of L500.000 sterling, making a total of L5,823,000 lent by the bank directly : or indirectly to four firmsjthe reputa«ion qf one or two which has been anything but good for some years back. The advances granted to these four firms, coupled with the negligent system of general mismanagement 1 , is the direct cause of the suspension, and is hardly short of criminal. It ie now estimated that the bank will show a defict of L2,000,0QQ, which to the knowledge of the directors and managers has been accumulating from year to year. Yet the dividends have been steadily increasing." The 'Poverty Bay Standard mildly records the eccentricities of an elector i>s follows :— It is really astonishing how foolish some people are in the matter of voting by ballot. At yesterday's election for the Gisborne liidmg the elector was required to strike out the names of the candidates he did not wish to vote for. Well, it is a positive fact that one man rode in ten miles to strike out the names of the lot, as he said* " There was'nt one on em worth " (adjective) Now this independent elector might just as well have remained at home, aud carried out hia determination, instead of riding 20 miles to record an informal vote. The great difficulty hitherto encountered in the way of popularising combined reapers and binders has been the difficulty and expense of procuring suitable material to bind *™\ J hewis P of straw employed by the Held laborer ia undoubtedly the most economical of all binders, for being part of the gram itself it costs nothing whatever. ISfo mechanism has yet been invented to imitate the manipulations of the intellectual binding ] machine. Wire and ropes have been trained j to do the work, bat their cost has been a formidable objection to their general employment. Yankee ingenuity has, however, (says the Dunedin Age) proved equal to the task of superseding human agency by ' something more economical. Instead or rope or wire, bands, of flax paper are used, and they are .found .to answer the purpose admirably. We have just inspected a sample of the new invention. The band is the production of the Minneapolis Paper Grain Binder Company, • and it arrived by the last mail. It is of the . ordinary thickness [of the grocers' brown wrappers, and the band is rather more than an inch in width. At each end are a few square slits, so arranged that the paper becomes neatly clasped and united. The remarkable strength of the flax paper renders it quite as valuable for binding purposes as any other kind of material. ■ The company, we understand, is prepared to enter into arrangements with manufacturers here for the regular supply of shipments of paper , made from New Zealand flax, and the prospects of this new industry ought to give an excellent Impetus to the paper-making operations hitherto so perseveringly carried on by Mr M'Glashan and his friends at the Water of Leith. The great American electrician, Mr Edison, has, it is said, invented an apparatus which will show how much ore a mine contains, and where it is situated, thus doing away with guess-work in opening diggings. hven without this ingenious help, several very curious "finds" are reported by the continental correepondent of the S.M. Herald as having recently been made. One of these, in Italy, has brought to light an immense treasure of coins, buried nearly 300 years ago, known to exist, but of which the where- ; about was unknown; and now we hear that a peasant at Michakoff, on the Dniester, has just found, in digging a field, a treasure supposted to be that of King Cyrus, conqueror of Croesus. It consists of a crown, sceptres, goblets, clasps, &c, ornamented withdragona' beads, all of gol J, and representing, in weight of metal only, a value of £10,000. The archaeologist Praglowski declares them to be of Persian origin; he supposes them to have belonged to King Cyrus, and to have been buried by his attendants after his defeat at Massagetes, in which, say soms writers, he lost his life. Dr. Wallis does not appear to entertain a very high opinion of the Press of the colony On his return to Auckland from Wellington the reverend politician was welcomed back at a soiree. In the course of his address he stated that, « It had been said of him that he bad advised people to drink beer instead of tea; that he had played into the hands of the Catholics on the question of education; and that he had advocated illicit lore instead of marriage. To all these he gave a distinct denial. They should never believe newspapers when they spoke of people in political life, for they never told the truth." As Pro^ggbe prosperity of Sydney it ™ ay ?&«»£<* th at the Sydney Morning i jHBI t Saturday, consisted of not i t l^Sl I>ageB ' containing sixty-one co.umflHMggartiseaienta in small type P/BSBBMBr S°utb Wales journal of a fflßlifflB e ' fl a<* thirteen columns of thaa the entire ordinary quantit«Bsßs| and advertisments com- « jHI 1 "' 9 the only , remarkable ire TgB&Bli ia l uestion . for while but 38 P er sogggjjg§g|heir services to employers J f 4 ** sHHr ia the field as em P lovers ■,. Tlie announces forthcoming discovengjm&rieal science, surpasaing M 7 tlun *MHßo the world. Can this S u t0 ISPEip^ fc of elect?: *^ t y aa a