AUSTRALIAN.

Nelson Evening Mail, Volume XXII, Issue 240, 11 October 1888, Page 2

AUSTRALIAN.

Sydney, October 10, The Port Darn'in cable is interrupted, and it is believed to have been broken by the repairing steamer Sherard Osborne while grappling for the old cable. The Daily Telegraph this morning publishes an article on the Bank of New Zealand, la referring to the way the money was squandered at head-quarters, it says :— " With such influences at work it is almost a matter for euprise, and certainly ©ne of congratulation, that the Bank still exists. It; had been the fashion to ascribe the posi» i tion of the Bank to the depression existing i throughout the Colony, but wq are inclinei! j

to think that the Bank suffered still more severely through the Bank's mismanagement.." The paper considers the increasing of capital a wise step, and that if the Bank is managed with prudence it will come through with flying colors. The Committee of investigation, it says, are entitled to great praise for the thorough manner in which their work was carried out. . A rrived - Fijian, from Lyttelton ; Waitemata, from Kaipara, Brisbane, October 10, The funeral of Sir Anthony Musgrave took place to-day. He was accorded a military funeral, and the ceremony presented on im~ posing spectacle. The streets of ths city v/ere crowded with spectators. Id is now believed that the oauso of his death was strangulated hernia, (Received October 11, 12"20 p.m.") Melbourne, October 11, Sailed— Tarawera for the Bluff. At the Congregational Union last evening Mr George Taylor, a resident of this city, offered to subscribe £10,000 yearly for three years fco establish a Congregational College at the Melbourne University, pro« vided a similar amount was subacribed by the public. He also promised to give £20,000 on the same conditions for the establishment of a school. Ten thousand poands was subscribed in this room. Sidney, October 11. Arr:v j d — Waihrra from Wellington. Tue (Jhstmber of Commerce have received a cablegram which i3undoietoodtn»n»ounce that the London wool brokers h'»vo agreed io tho proposal of the Auntrsliau growers for fnri/hing bids at the wool sales. Ekisbane, Ootobsr 11. The ininway strike has been 83btlei3 Botifcfflct:orily to both sides. Pebth, W. A., October 11. The Legislative Council opened yesterday. The Governor's speech announced that there would probably be a deficit of £30,000 at tha end of the financial year, and that it was proposed to meet the deficit by the issue of Treasury bills to the amount of £50,000. The ppeech referred hopefully to the prospects of the ci'ony'a resources, which were expanding, whilst the business was being conducted on a sound basis.