SPECIAL CABLEGRAM.

Oamaru Mail, Volume III, Issue 795, 29 October 1878, Page 2

SPECIAL CABLEGRAM.

[FROM OUR OWN CORRESPONDENT. 1 Dunedin, October 29. The following cablegrams have been received by the Star : The Australian Eleven have scored two more victories. At Detroit the local eighteen scored 32 and 81, and the Australians 184 ; and at Quebec the local twentytwo made 90, and the Australians 319. LoXDoy, October 17.

It is rumored that the Marquis of Normanby succeeds Sir Goorge Bowen as Governor of Victoria, and that Sir Bartle Frere proceeds to India. Negotiations are proceeding between England, France, and Austria to secure a common agreement 011 the European Question, as a counterpoise to Russia. The report on the Glasgow City Bank shows the estimated loss to be L 6,191,000, including the capital and reserve fund account. Falsified securities were entered in fictitious names, bad debts treated as and the ««po+s ""■' gold Covering the excessive note issue squandered (? exaggerated). The Government have been deceived by false returns, and the shareholders by cooked balance-sheets. Among the Colonial securities pledged are lands in Poverty Bay, New South Wales, and Queensland. A serious panic has occurred in the Manchester Building Societies. France and England have agreed to reform Egypt. The control of Alexandre remains with England. By a railway accident at Ponty Pride, Wales, 10 were killed and 20 injured.

The Directors of the Colonial Trusts Corporation have been summoned to the Mansion House to produce the books of the Company in connection with the balancesheet.

Great monetary pressure continues, and gold continues to ebb away to Scotland. The reserve is at L 8,500,000, and so low that further advances are inevitable. Numerous failures have occurred on the Stock Exchange during recent settlements, but to no heavy amounts.

October 18. T ! i.j probable deficiency of the Glasgow BaOi is L 5,000,000. Mr. Cross says the Government have no desire to extend the northern frontier of Afghanistan. The Afghans are strong, independent, and friendly. Possibly explanations might be offered, but the Government must at any cost maintain the British supremacy and power.