CABLE NEWS

Ashburton Guardian, Volume V, Issue 1550, 11 July 1885, Page 3

CABLE NEWS

tAThST FROM € DROPS fsBCTKR’« TUBSBAIfS—OOPYRIOHT, 1 i Financial Proposals. London, July 0. In the House of Commons to-night, Sir 'Michael Hicks-Beach, Chancellor *of the Exchequer, brought down the financial proposals of the new Government He announced that the suspension of the Sinking Fund would be adhered to, and Treasury Bills to the of X 4,000,000 had been issued. T In other respects he was prepared to adhere to the scheme'formulated by Mr Childers in his recent statement Oat of the extraordinary vote of Li 1,000,000, Li 0,000,000 had already been expended. Fire. The University College, Aberystwitfa, Wales, has been completely destroyed by fire. Federation BUL London, July 0. In the House of Commons to-night the Colonial Federation Enabling Bill was read a second time. Monetary and Commercial. Consols, gßfi. New Zealand securi- - ties ate. unaltered. The market rate is ££ and the Bank rate 2 per cent Colonial breadstuff's and tallow are unchanged. - The weekly returns of the Bank of England show the total amount of reserve In notes and bullion ' to be Lay, 100,000, being a reduction of * 1.300,000 during the week. The pro- , portion of reserve to liability is 44 per cent, being 5 per cent lower than last week. >. The Wool Bales. 1 The'present series colonial wool ■y anctionswill dose t#4»orrow. The V' market is sluggish sinte tfae commencethe sales, tto.ooo bales are hdd bver for next salts. Greasy and t£ scoured wools realised halfpenny to one , penny lower than last sales j fine qualii - ties croasbred genmßy were tbree- | halfpence lower, lowqoalities were one | \ a u |p<- >S#jr Zealand wteat, 39 per bSshel; ad; mai% 2s Mi)#/ s&Wmm Ca> , mi :»

A Loan. It is announced that the Government will shortly call for tenders in London for a loan of L 5,500,000, bearing interest at rate zY* P er cent. The Markets. Adelaide, Yesterday. Wheat, 3s 8d to 3s gd; flour, town brands, L 8 ss, country, Ly 5s to Ly 1 os.