LATEST FROM EUROPE.

Southland Times, Issue 3314, 3 February 1879, Page 2

LATEST FROM EUROPE.

(PER PRESS ASSOCIATION'S SPECIAL WIRE.)

Received 4.45 a.m. PARIS, JAN. 28,

MarshaU McMahon refuses to accede to certain changes proposed in the army, which the Commander of the Corps argues should be made. The Ministry desire to avoid this unless the consequences should prove detrimental to the nation. The Marshal threatened to resign rather than the army should be disorganised. The majority of the Chamber intimated that if his resignation is tendered they will be prepared to accept it.

LONDON, Jan. 29,

The Colonial Institute has appointed a select Committee to enquire as to the practicability of holding a colonial exhibition. Consequent upon President MacMahon persisting in his refusal to effect a change in the command of the army, he has virtually resigned. The formal resignation will probably be submitted to-morrow. The Congress, Senate, and Chamber of Deputies will then meet and elect a successor.

Jan. 30. The probable candidates for the presidency are M. Grevy and Admiral Pothnan.

In a letter this afternoon, MacMahon resigned the Presidency. The Senate and Chamber of Deputies were immediately convoked to elect his successor. Grevy's election is noAV considered a certainty.

Evening.

M. Grevy Avas elected by a large majority, and Avas proclaimed President of the Republic for the next seven years.

Jan. 31

The City of Glasgow Bank directors set up no defence at the trial. They only called witnesses as to character. Mr W. Otter Stronach was found not guilty as charged. The otheiN have been found guilty of issuing false balances. The sentence wiU be deUveiel on Saturday, January 30th.

The rate of discount is reduce 1 .0 3 per cent.

McMahon retires into private life. M. Gambetta has been elected President of the Chamber of Deputies.