OUR LONDON LETTER,

Otago Daily Times, Issue 7928, 20 July 1887, Page 4

OUR LONDON LETTER,

(Fkom OOU Own Ooruesfondknt.) i ——__ London, Juue 3. HOLD MlNlNfj. Mr J. 0. Brown, M.H.8., who recently came over to this country for the purpose of negotiating the sale of the Amalgamated Blue Spur gold mines, appears to have succeeded in this enterprise conditionally on his receiving later on aroporfceouii-matoryof the vendors'statements lhe property is said to have got into tho hands lof some good people who will be able to provide such amount of money as may be required to work the enterprise. The English money market just now is in a very buoyant state. Money is cheap, and capitalists both large and small are eagerly oil the look -out ,for good investments. Consequently there has been a revival, though on a more moderate scale, of the famous gold mining _ boom of last autumn. Queensland is pouring m mine after mine upon tho money market au m, velltures nre being rapidly taken up. Ihere has been a strongly marked recovery in the prices of colonial stocks. This has been particularly remarkable in the case of the New Zealand inscribed 4 per cents., which have risen iv price in a most satisfactory manner. Of course to some extent this rise is due to the promised restrictions upon expenditure in your colony, and the belief that no further borrowing in contemplated for the present. The New South Wales.dJi per cents, which a few months ago were down at 93, have recovered to very nearly par. Another feature of the commercial situation is the favour with which colonial loan and agency companies are regarded by investors, bomo of the first-class colonial trading companies have also been able to obtain money on advantageous terms, lor instance, Dalgety and Co. (Limited) have just disposed of £250,000 of "f" interminable 4 pur cent, stock at the price ot 97 per cent. If politics at home and the situation abroad continue quiet, there is every reason to believe that the Knglish money market will continue in its present satisfactory condition, ANOLO-COr.ONIAL NOTES. nil W;, E- Ba'kcr, 8.A., Fellow of Trinity College, Cambridge, has been allowod to proceed to the degree of M.A. by proxy, he being at present resident in New Zealand Messrs Huddart and l'arker are building a new steamer tor the Victorian coasting trade, to be called the Clingamite, to replace the Cotangatmte, which was recently wrecked, and overtures are oeing made to the Victorian Government to have the steamer fitted up and armed so as to be avadaMe for defence purposes. The vessel is being constructed with watertight compartments, and will possess the necessary speed for an armed cruiser, and will be capable of carrying six Nordenfeldt guns besides others of a different calibre. Ihere is talk about the sum of £20,000 being (spent in arming this vessel, but such expenditure will of course have to be sanctioned by the Victorian Parliament. Another vessel is being built by the same firm for the Australian trade, to be called tho Express. ™A\. a cons's'ory held at the Vatican on May 2G the I°ope announced the names of the new Catholic hierarchy in Australasia. His Holiness nominated as metropolitans the Bishops of Adelaide, Brisbane, and Wellington, and appointed at the same timo a number of new bishops, Honseignor Orimes being proclaimed Bishop of Christchurch, and Father Navarre Vicar of Melanesia.

In connection with the bestowal of a knighthood upon Dr James Hector as one of the Birthday honours of the year, it has been noted how much more fortunate than their brethren of Australia are the scientists of New Zealand in gettmg their merits recognised. For some reason New Zealand men of science seem to be better known in England than do those of the neighbouring continent. The names of Yon Haast, Hector, and Buller are as familiar in geological circles here as though the bearers of them actually lived iv this country, whereas tho leading scientists of Australia are comparatively little known. Perhaps this circumstance may be taken to explain what would otherwise be the peculiar fact of three New Zealand men of science receiving the honour of knighthood within the past 12 months.

Sir William Fitzherbert and Sir Francis Bell were the guests of Sir Henry Holland on the occasion of the Ministerial banquet given by theSecretary of State in honour of the Queen's Birthday, and at ( Sir Henry's table they met as a fellow guest no other a personage than Mr James Authony Froude. Whether any words passed between them lam unable to say. Perhaps the two representatives of the Britain of the Southern Seas contented themselves with looking daggers afc the vilifler of the commercial reputation of your colony. It is worthy of note that all the Ministerial banquets given in, honour of the Queen's Birthday were provided by the far-famed Gunter. It is found cheaper and better to have all the catering done by one inau than for each banquet to be provided separately. The remark has been cynically made that the present set of colonial delegates are « used up '* sooner than was the case with their predecessors in the great exhibition year. The colonial and Indian representatives possessed abnormal appetites which nothing could satiate, but the conference delegates are more dainty. It is being noticed that at the banquets to which thoEe who remain in the country are still being invited, they send their plates away soarcely touched, aud that most of them confine the libations to Apollinaris water.

Last week the colonial delegates visited Oxford, and were entertained by Sir William Ansou, warden of All Souls, Sir William Fitzherbert being amongst them. The weather however, was very wretched, and did much to mar the enjoyment of the visitors. Sir William Anson did all the honours in a way which showed him to he a worthy traditional Fellow of All Souls— hene natus bene usiitus et doctus mediocnter.

The tenders for £50,000 five per cent, mortgage debentures of the Wellington Gas Company were opened at the Bank of New Zealand on the day after the departure of the last mail. The amount tendered for was £126,300, at prices rauginc from the minimum of £100 to £105 Tenders at £103 1b Cd will receive 65 per cent, of the amount applied for, and those above thafe price in full. The average was £103 3s. On the 19th of last month there died at Norwich Sergeant George Wilde, one of the survivors of tho famous Balaklava charge, in which he had three horses killed under him. In addition to his Crimean career, Sergeant Wilde served with distinction in one of tho Maori wars.

J A good-service pension has been conferred upon Colonel H. Shaw, V.C., of the Royal Irish Regiment, who gained the Victoria Cross for conspicuous gallantry in the New Zealand war. Miss Leonora Braham, formerly of the SavoyTheatre, and hes husband, Mr Duncan Young, late leading tenor of the German Reed Company, will start for a lengthened tour in Australia next month. Miss Braham has only recently been married to Mr Young. Mr Philip Vanderbyl, of Messrs Eedfern, Alexander, and Co., has joined the board of the National Bank of New Zealand. PBODT/CE. The wool market has been quiet during the past fortnight, owing partly to the Whitsuntide holidays, but in addition there are evidences of a slight downward tendency. The list of arrivals for the third series closed on May 20, the quantities available being:—New Zealand, 118,754 bales; New South Wales, 90,486; Queensland, 13,268; Victoria, 78,680; South Australia, 14,417; West Australia, 7619; Tas« mania, 12,651; and Cape of Good Hope, 36,510----total, 372,385 bales.

The fxossen meat market has also had a downward tendency. The Rimutaka, with an "irregular" cargo of 11,865 sheep* 5756 lambs, and 419 pieces of beef, has sold 11,250 sheep at 3§d to sd, 4200 lambs, at 3d to 7d, and all the beef at 4fcd to sd. The Coptic, from Wellington, with a " fair" cargo. of 25,493 sheep and 10,070 lambs, has cleared the: sheep at S|d to sd, and sold 9900 lambs at 4d to. 7d, The Elderslie, from Port Chalmers, with an " irregular " cargo of 21,780 sheep and S7OO lambs, has sold 15,000, Bheep at 3id to 5d and 1700 lambs at 3?d to 6d. The Tainui, from Lyttelton, with 25,083 sheep and 12,313 lambs, has sold 21,500 sheep at 3jjd to 4Jd and 5500 lambs at 4d to 6d. The Kuapehu, from Auckland, with 10,176 sheep, 6242 lambs, and 98S pieces of beef, has sold 850Q sheep at 3-jd to 4£d, 3500 lambs at 3d to s§d t a.nd all the beef at 4d to sd. The Canterbury, from Napier, with 9830 sheep, has sold 1400 at 3|d to 4d. The Opawa, from Timaru, with an "irregular" cargo of 84P0 sheep and 3129 lambs, has sold 6000 sheep at 3d to 4jd and 500 lambs at 3d to 5Jd. The Marlborough, from Oamaru, with a cargo, also " irregular," of 10,396 sheep and 2424 lambs, has sold 800 sheep at 3|d to 4d. The Turakina, from Wellington, with 8572 sheep and 1716 lambs, has sold 1300 sheep at 3|d to 4d. The Doric from [Lyttelton, with 88,887 sheep and 10,626 lambs, has sold 3000 sheep at 3j[d to 4Jd and 500 lambs at 4d to SJd. Tho Kaikoura, from Wellington, has only just begun to break bulk, and the Wellington, from Ijytteltou, has not done so.