NEWS BY CABLE.

New Zealand Times, Volume XLIV, Issue 7490, 30 May 1885, Page 2

NEWS BY CABLE.

By Electric Telegraph.—Copyright. (special to exited press association.) London, Ma j 2S. The New Zealand loan of one million and a half will be placed on the market to-morrow. Captain Brennan, of Victoria, the inventor of the torpedo bearing his name, has received a large amount from the English Government for his patent rights. The New Zealand loan is already quoted at a premium of 1J- per cent. It is expected that the average will be about £99. 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 favorable concessions in regard to the importation of Colonial wines. (Received May 29, 9.50 p.m.) London, May 29. Another picture by Mr J. E. Millais, R.A., “ The Ruling Passion,* 1 exhibited at the Royal Academy, has been purchased for the Sydney Art Gallery.

(reuter’s telegrams.) London, May 28, The Directors of tho Bank of England to-day resolved to reduce the Bank rate from to 2 per cent. Tenders are invited on behalf of the New Zealand Government for a loan of £1,500,000, at 4 per cent. The minimum has been fixed at] aud tenders will close on the 4-th June. It has transpired that the Conference which was held on Wednesday between the Colonial AgentsGeneral and the Senior Naval Lord of the Admiralty was merely to ascertain how many torpedoes would be required for the defence scheme of each Colony.