LATE CABLE NEWS.

Timaru Herald, Volume XXXVI, Issue 2412, 15 June 1882, Page 2

LATE CABLE NEWS.

[By Telegraph.] (Per i.f. Wakatipu at Wellington.) [t'FBCUL TO THS SYDNBY " HebaLD."] London, June 2. It is proposed to convert the debentures of th» New South Wales loan into inacribod stock. The French Chamber of Deputies passed a vote of confidence m M. De Frejcinet, m regard to the action adopted by ths French Cabinet m proposing that a diplomatic conference be held at Stamboul with a view to the peaceful solution of the Egyptian difficulty. In tbo course of a speech m the Chamber on the Egyptian question M. Gambetta ridiculed the proposed diplomatic conference at Stamboul. June 4. The actual number on strike at Pittsburg is 60,000. Garibaldi died of bronchitis. Arabi Bey has given guarantees for tho maintenance of order, pending the determination of tbe diplomatic conference. The Sultan has reassured the Khedive of his friendly intentions m the present crisis. The object of the proposed conference is to compel the Porte to accede to European control over Egyptian finances. The Sultan has accordingly sent commissioners to Cairo to induce Arabi Bey to withdraw, m order that the conference may be rendered superfluous. If the Porte declines to acquiesce m European control, England and France, or England and Italy, will act under the control as mandatory. Tbe conference will be abandoned if the commissioners despatched by the Porte succeed m arranging a peaceful and satitfactory solution of the difficulty. June 5. In the gun explosion on board the ship Swiftsure, at Madeira, one seaman was killed and several others injured more or lees seriously. Bpeaking on Egyptian affairs on June Ist, Earl Granville stated m the House of Lords that England gladly assented to a conference of the Powers proposed by Francs, and said the Government considered the ironclads despatched to Alexandria were adequate for protecting the European population, and the tafety of the Suez Canal wa» provided for. England was pledged to uphold Prince Tewfik, and had requested the Sultan to summon Arabi Bey to Stamboul. Government was not aware that the Sultan was intriguing, as was alleged. The Marquis of Salisbury expresied his conviction that the measures of the Government, m view of the present crisis, were totally inadequate.