CABLEGRAMS

Otago Daily Times, Issue 5279, 20 January 1879, Page 2

CABLEGRAMS

(Special to Pkess Association.)

BRITISH AND FOREIGN.

London, January 17th. The directors of the Bank of England have reduced the rate of discount to 4 per cent. M'Comas and Co. have failed for £SO,OOO. The failure is attributed to depreciation in wool. Tho German war-vessels Ariadne and Merititus are directed to exact satisfaction. from Samoa. A rapid advance of British troops on Cabul has produced complete disorganisation amongst tbe Ameer's troops, and anarchy provails in the city. A political crisis exists in JjVa*jc<, and a chauge of Ministry is probable. (Beutee's Special to the Puess Association. ) London, January 16th. It is announced that tiie existing division of postage between the Home und Colonial Governments continues until the cxpitation of tho present P. and 0. contract. January 17th. The French Press condemn the Ministerial statement as too moderate. The position of the Ministry ia considerably weakened. Janus ry 18th. Sir M. Hicks-Beach, at Stroude, in his sp.-ech, admitted that English goods were undersold by European and American, competition, and that the Government in oonsequence would endeavour to provide a fresh outlet—Africa.

INTERCOLONIAL.

Brisbane, January 17th.

A new Ministry is being formed by Mr M'llwraith, aud will probably include himself, Messrs Palmer, Macrossau, Thompson, and Pc rides.

The recent appearance of the Kelly gang is unconfirmed.

Sydney, January 17 th, Special races in. hoaour of the Governor were held to-day.

Adelaide, January 17th, Wheat markets statiouary.