LATE CABLE

North Otago Times, Volume XXXVI, Issue 8730, 18 November 1896, Page 2

LATE CABLE

[»y er,botrio telegraph, copyright* (per press association ) Received November 18, at 0 35 a.m. Berlin, November 17. Greab excitement was shown m the de« bate m the Reichstag upon the recent revelations respecting the rapprochement with Russia m 1887 and 1890. The secret obligation then entered into waa still unremoved, and tho friendly relations have nob ceased. The clouds of mistrast raised by the revelations have vanished, and there la absolute mutual confidence between the allies. The aasor* tion respect-i"g British influenca Is unfounded. Baron Marschall Von Bieberstain, Minister for Foreign Affairs, said the Czar was aware of the Austrian Treaty m 1879. The omission to renew the treaty with Russia had not altered Germany's guarantee of peace. Since 1890 there had been no serious difference between tho two countries. Any attempb on the part of Germany to divide Russia and France would involve sacrifices she was unable to make. Her polioy waa clear and unshaken, namely, alliance with Austria and Italy, and friendly relations with Russia and other Powers. Whila any question of political interest m the foreground was unsettled it waa unlikely the Powers would quarrel. London, November 17. The Committee of the London Country Council censure the Works Department for cooking the accounts and preventing the discovery of the actual cost of individual works. They recommend the dismissal of a number of leading officials. Wheat is slow of sale. The market has undergone an advance of one shilling per quarter during the week. The balance-sheet of the New Zealand and Australian Land Company shows a profit of L 63.709, and recommend a dividend of four per cent and to carry for* ward L 1709. The revenue from Bheep decreased during the year L 13.499 and wool L 4847. The mortality among Bheep and lambs amounted to 108,500 above hhe normal number. The profits on cattle were L 8916, grain L 20.983. The debenture debt amounted to L 983.400. The loss on the Edendale dairy was L 421, Rome, November 17. The treaty with Abyssinia ha 3 been ratified. The Kaiser and French President hava congratulated the King of Italy, Sydney, November 17. The Federation Convention has decided to work on the basis of the BUI drafted m 1891, and then issue a manifesto to the Australasian people aa the result of their deliberations. After a long discussion it was resolved to pat the Commonwealth Bill through the Com* mittee stage, and the. clauses are now being discussed seriatim. Arrived — Mataroa. At the half-yearly meeting of the Bank of New South Wales, the net profit for the half year was shown at L 87,660, which, with the previous balance, made L 109,759. A dividend of 9 per cent waa declared, absorbing L 87,458, and the remainder was carried forward. The paid up capital <tros increased by L 18.560, the reserve by L 6673. The chairman, m moving the adoption of the report, stated that the investment m municipal government securities had increased by L 32.000,. and the bank was ready to invest further m this direction. The Board held that} while they thought they owedit to the colo« nies to hold a cetain amount of local stock, still m order to have quickly realisable securities m times of pressure the bulk of investments would be made m British consols. The general business of tho Bank continued to expand rapidly, as they had every right to expect, considering the slow revival of trade. He deplored the inclination of many colonial Governments to pass, measures m tfye direction of interfering w{th the resource? ful dispositions qf the people. Mr J. R, Fairfax and Dr Mackellar were elected to fill the vacancies on tha Board.