LAST NIGHT'S CABLEGRAMS.

Oamaru Mail, Volume XVI, Issue 5099, 8 October 1891, Page 1

LAST NIGHT'S CABLEGRAMS.

[By Electric Telegraph Copyright.] (PEE UNITED PRESS ASSOCIATION.) Received October 7, at 7.45 p.m.] London, October 6. In a circular to the shareholders, the Directors of the Bank of South Australia regret that several advances made in Melbourne are unsafe. They were made by a former manager, and it is necessary to place the assets there on a sound foundation. The Adelaide assets will also have to be written down to a safe point. It is proposed to appropriate LIOO,OOO of the reserve, to reduce the capital to L 605,000, and to appropriate L 37,000 (the half year's profits), along with LIO,OOO previously brought forward. In all other respects the Bank is perfectly sound. The profits for the last four years have averaged L 69,000, and there is every likelihood that the same rate will be continued, which will enable them to resume paying dividends, and build up a new reserve fund. There have been no losses in South Australia for the last four years. Received October 7, at 8 p.m.] London, October 6. A hundred and twenty-live workmen at the Imperial Institute buildings have struck against the employment of unionists. The seriousness of the Hon. Mr Smith's condition was suppressed by the wish of the Government. His death was the result of overwork. Intense regret is ex pressed by both parties. The ship Wolviston, from Bristol to New York, was sunk by an iceberg, and 12 of those on board were drowned. The barque Ninnelkin has been wrecked off the coast of Newfoundland, and 23 persons drowned. The insinuation of the Duke of Clarence and Avondale's connection with the Gaiety chorus girl is generally disbelieved. Vienna, October 6.

Alarming reports are persistently published in Vienna respecting the concentration of Russian troops in Bessarabia, and along the entire western frontier. AUSTRALIAN NEWS. (per united press association.) Received October 8, at 1 a.m.] Brisbane, October 7.

Shaw's Hardware establishment was burned out to-day. The damage is estimated at L 35,000. The stock was insured for L 37,000. The New Zealand and Standard offices had LSOO each, and the South British LIOOO. Six firemen were buried by falling walls, and three of them very badly injured. A seventh is also missing, and it is feared he has perished in the ruins.

It is believed the Bank of England will resign the Queensland business unless Sir T. M'llwraith apologises for his recent speech accusing the Bank of sticking to the colony when it paid them to do so, and throwing it aside when it did not.