EUROPEAN INTELLIGENCE TO MARCH 10.

Otago Witness, Issue 391, 28 May 1859, Page 6

EUROPEAN INTELLIGENCE TO MARCH 10 .

(From the Sydney Morning Herald of April 30 ) The Royal Mail Company's steamship Oneida arrived yesterday afternoon, at Port I Phillip Heads. Her proper dates would have been to the 17th February, but owing to her detention we have received English news to the 10th of March, by means of the telegram to Malta. We received last night the two following telegram messages, giving a brief summary of the European news — one from our special correspondent at Queenscliffe, and the other from our Melbourne correspondent. [From our Queehscliffe Correspondent.] Friday, 6, p.m. The Oneida arrived at Port Phillip Heads at five o'clock this afternoon, bringing English news to the 10th March. She has experienced fine weather during the voyage but was detained three days at sea, owing to an accident to the machinery. She has twentyfour passengers on board, one of whom (Mr. Saddington) is for Sydney. Her dates are as follows. — Suez, 16th March ; Aden, 23rd March ; Point de Galle, 7th April. The Queen's speech had been well received. The Reform Bills were brought forward on 28th February. Lord Derby shortly afterwards resigned. Lord Palmerston was sent for. Sir Charles Nicholson and Mr. Cunard have both been created baronets. The funds were buoyant. The Directors of the Peninsular and Oriental Steam Navigation Company have resolved on making Sydney the head-quarters of the Australian mail service, and, therefore, no branch steamer will be despatched as was orinally intended. The Salsette, from Sydney, arrived at Aden on 22nd March, and sailed on the same day for Suez. Lord Elgin was at Galle in the Furious, en route for England, the Chinese question being entirely and satisfactorily settled. The Queen's opening speech to Parliament gratefully recognises the valour of the troops that have been employed in the suppression of the mutiny in India, the signal chastisement that has been inflicted on the rebels, and the satisfactory prospects that exist of complete pacification. Assurances of friendly feelings a c stated to have been recieved from all foreign powers. A commercial treaty had been satisfactorily concluded with Russia. Negro emigration from Africa to the French colonies has been abolished by the Emperor, in consequence of friendly representations from Great Britain. Reparation is to be demanded from the Government of Mexico for the indignities offered to British subjects. An entire reconstruction of the British navy is recommended as having become necessary. Bills were to be submitted for the purpose of amending the Bankruptcy Laws, and the laws relating to the Registration of Titles of land. War between France and Austria still appears to be imminent. Lord Cowley had arrived from Paris specially to confer with the Ministers on the aspect of Continental affairs, and was to leave immediately afterwards on a special mission to Vienna. Lord Palmerston gave notice, on the 24th February, that he would direct attention to the present aspect of European affairs. The Congress for the settlement of the Danubian Principalities, was about to meet at Paris. The most interesting item is the news of the accouchment of the Princess Frederick William of Prussia on the 27th of January, by which event Queen Victoria became a grandmother. The child, a boy, is heir to the Prussian throne. Prince Napoleon was married to Princess Clotilda, of Sardinia. Victorian debentures are quoted at 111. Consols, low, at 95. Wool. — The next wool sales were to take place on 24th February. Stocks on hand are limited. The manufacturers say that easier prices cannot be looked for at present, but next May, as stock will increase there will be a reduction of 2d. to 3d. per lb. During the present series of sales, wool will probably command long prices. Scarcity of good fleece will cause great competition, and an advance of l^d. per lb. may be fairly expected. The supply of tallow was falling short for all descriptions. The demand has been generally good, and the prices high. Mutton, 51s. 6d. Beef, 50s. (From our Melbourne Correspondent.) The Oneida arrived at the heads this afternoon, with news to the 10th March. Parliament met on 23 rd February. Queen's speech was well received at first. The war-cloud is believed to be blowing over. Telegraphic advices, dated London, 10th March, state that the Ministry had resigned, and that Lord Palmerston had been sent for by the Queen. The opposition to the Government Reform Bill is said to be the cause of the resignation of the Ministry. The rumours of war, and the extensive Military preparations on the Continent, were causing a great timidity on the part of buyers in the Money Market. The operations in the London market were of a very limited character, and holders were generally quite disposed to meet the market. Shipments to Australia were slightly declining.

Stocks of wool in the hands of manufacturers were limited, but buyers were looking to effect a reduction of 2d. to 3d. per lb. at the May sales. Sydney wools, good fleeces, are expected to command an advance of l£d. per lb. The Great Eastern steamship has been registered at the Customs free from incumbrances.