\ FOREIGN & COLONIAL j TELEGRAMS, – ENGLISH AND FOREIGN i CABLE.

Timaru Herald, Volume XLI, Issue 3330, 30 May 1885, Page 3

\ FOREIGN & COLONIAL j TELEGRAMS, - ENGLISH AND FOREIGN i CABLE.

1 (Per Electric Telegraph. — Copyright. ) (Reuter's Agency.) (Received 1.15 p.m., May 29th.) London, May 28. The Directors of the Bank of England to-day resolved to reduce the Bank rate ; from 2fc to 2 per cent. • Tenders are invited on behalf of the , New Zealand Government for a loan of £1,500,000 at 4 per cent. The minimum • fixed on is 97i. It has transpired that the Conference ' which was held on Wednesday between ' the Colonial Agents-General and the 1 Senior Naval Lord of the Admiralty was ' merely to ascertain how many torpedoes 1 would be required for the defence scheme \ of each colony. (Special to tub Press Association.) j (Received 10.30 a.m., May 29th.] London, May 28. > Captain Brennan, of Victoria, the in- • ventor of the torpedo bearing his name, ' has received a large amount from the ; English Government for his patent rights. [Received 11 a.m., May 29th.] Tho New Zealand loan is alreadyquoted . at a premium of li per cent. It is expected that the average will be about £99. The several Agents-General and Sir Charles Tupper, High Commissioner for Canada, are urging upon the Government the exemption of colonial securities from the stamp duty. The Colonial Institute are also urging i upon the Government the necessity of i granting more favorable concessions in ■ regard to the importation of colonial i [Received 12.15 p.m., May 29th.] : The race for the Manchester Cup was run to-day, aud resulted as follows : — Mr 1 R. Jardine's ch h Romeo, 1 ; Exema, 2 ; | Crom-a-boo, 3. i [Received 9.50 p.m., May 29th.] ; London, May 29. i Another picture by Mr J. E. Millais, I R.A., "The Ruling Passion," exhibitod ' at the Royal Academy, has been pur- > chased for the Sydney Art Gallery. '' _••— — — ■——^— — — ••