SAN FRANCISCO MAIL NEWS.

Oamaru Mail, Volume IV, Issue 813, 20 November 1878, Page 2

SAN FRANCISCO MAIL NEWS.

[VIA AITKLAXII.]

The City of Glasgow Rank failed on the 3rd ult. for L 0,000,000 in consequence of large advances on American sureties, grain, and real estate. The value of the latter is much depreciated. Smith, Fleming, and Co.. East India merchants, Leadenhallstreet, arc leable for cash advances amounting to L 550.000 and acceptances for LOO,OOO. All the Directors are arrested, charged with fraud, and have been confined separately. Of these W. K. Taylor is ex-Town Collector of (Jlasgow, a member of the School Hoard, and partner in a large grain-dealing linn in the West of Scotland : lnglis is a landed proprietor in the east of Scotland : Lev, is L'otter is a member of a large shipping iinn at t!lasgow, Scotland : Wright is a member of the Last Indian, London, and (Jlasgow Rank ; Robert Salmon was the manager of the Ciivof < J.asgnw Rank when it stopped in IS->7 : Stewart is an l-Miiiburgh merchant. The arrests created a great sensation, but meet with general approval. The Crown authorities have appointed a lawyer to oiiieially investigate the a ("fail's of the Rank. The research is to extend hack to IH.">7. The report is worse than the most gloomy forebodings. L">, 100.053. which with the addition of L1,00'.i.000 capital, the shareholders will have to make good. The report shows s-jktem'itic deception. A call has been made oji tile shareholders for LSOOO per share, ytcps are being taken to organise a relief fund for the shareholders. S ieol Fleming, "connected with the Rank, has absconded, chartering a steamer for the coast of Kintyre. whence he hoped to reach Spain. A large number of (Jlasgow and London failures have followed this financial crash, among them being l'otter. Wilson, and Co., for LtiOU.OOO ; (Tanna, Donald, and Wilson, engineers, i'aisß'V, for 1.70,000: Westwieh and Co.. special merchants, ot Loudon, for L70,001> : .lames Morton ami Co., ( Jlasgow, have placed their books in the hands of an accountant, they were largely indebted to the Rank : Hugh R.ilfour and Co.. Manchester. for L2.000J)00.

A correspondent from Calcutta f degraphs as follows : L'lilws Slicrc Ali yivcs satisfaction, 1110 present Occasion will lie seized tii sec 111 v for o:ir.-elvcs tiic passes piercing tiic mountain range- along the whole frontier from Kyher to Balan, and further strategic measured will lie adopted to dominate the Suliman Ranges ami Hindoo Koosh mountains.^

A number of war ships have been ordered to the LVrsia.n Cult' from the squadron of the admiral of the Ka.st Indian station.

It is reported that dissensions have broken out among the great Afghanistan chiefs. The Ameer has asked the tribal councils for assistance. It is believed that tribes niustcviiifi 150,00;) lighting men have assented. The other tribes, with about M 5,000 warriors remain neutral. 'The Ameer has freed from prison his son, Ilakonl) Kalm, who is a noted general. A despatch from St. Petersburg says that if the Ameer is boa-tun his territory will be annexed to England, and Russia wiil occupy Merr and Kbalkh, in Southern Turkestan, near the Afghan borders. The Ameer's reply to the Viceroy has been received, and is in substance "You may do your worst, and the issue is in Cod's hand*,"

SO,OOO Austrian troops have boon withdrawn from Bosnia.

Corruption among Russian army officers is discovered to be widespread ; 500 officers, including 40 colonels, are accused of the misappropriation of money. The Russians refuse to quit Adrianople till the signing of a definite treaty with Turkey.

Negotiations are said to be pending between Austria, France, and England, to secure an anti-Russian alliance. James Lawyers and Co., of Liverpool, have suspended payment, with liabilities of from L 1,000,000 to L 2,000,000. England, Italy,and France will not recognise the Servian independence till the civil and political equality of the Jews is proclaimed. The Duke of Edinburgh has sailed from Marseilles for Canada to welcome the Marquis of Lome. The report that the annual military conscription of Germany is increased to 20,000, is denied. London, Oct. 23. A despatch from Constantinople contains the following : —The bulk of the Russian forces in Bulgaria are moving southward. The Russian infantry alone in Eastern Roumelia already numbers SO,OOO men. Another army corps is near Constantinople. There are 150,000 men in Adrianople. NewYokk, Oct. 22.

The Herald's correspondent at Glasgow telegmphs as follows : —The meeting of the shareholders of the City of Glasgow Bank was largely attended. In view of the hopeless resuscitation of the shattered conoern a strong feeling was expressed by a few prominent shareholders in favor of voluntary liquidation, as being less costly than judicial liquidation, and less oppressive to the jjoorer shareholders. Repeated reference was made to the prompt action of the Crown, and the names of the shareholders who can testifythat they purchased on fraudulent misrepresentations were taken down for the rise of the procurator-fiscal. Kumors reach.me that further warrants have been issued for the arrest of the old directors of the Bank. There have been runs on some of the local building societies to-day, but nothing seriously approaching a panic. London, Oct. 2.3. The Standard publishes a sensational despatch from Vienna, that the military preparations of Russia are so vast that nobody can doubt that she is bent upon further conquest. .The only question appears to be whether she will wait till spring, or recommence war before that time. Her excuse will probably be the outbreaks of Bulgarians.

A camp of m. n is forming at Kischenef, to replace the troops who have crossed the Balkans southward. Russia refuses to evacuate the Dobrudseha, or Roumania, until Roumania has concluded an offensive and defensive alliance.