TELEGRAPHIC NEWS.

Ashburton Guardian, Volume V, Issue 1427, 8 December 1886, Page 2

TELEGRAPHIC NEWS.

AUSTRALIAN.

[REUTER’S TELEGBAMS—COPYRIGHT.] THE IMPERIAL INSTITUTE. Melbourne, December 7* The Government have received a telegram from the Agents General collectively, stating that the basis of the Imperial Institute has been remodelled. It will be called the Imperial Institute of the United Kingdom, British colonies and India. Half, of the space will be reserved for the different colonies and India, each controlling its own section, The Commmittee contemplate holding periodical exhibitions of specific industries and products.

THE VICTORIAN LOAN.

The statement that the second instalment of three millions of the authorised Victorian Government loan of eight millions will be placed on the Londoii market in January is confirmed

THE EXHIBITION.

The Chamber of Manufacturers have approved of the proposed Exhibition. It is intended to invite their Royal Highnesses the Prince and Princess of Wales to inaugurate the ceremony in connection with the Centennial Exhibition in iBB§. The preliminary arrangements for the Exhibition are being rapidly pushed forward. The area alloted will largely exceed the total of the Exhibition of iSBo. Commissioners will be appointed both in Melbourne and London.

TEETULPA.

Adelaide, December 7. Accounts from Teetulpa continue to be conflicting. It is known that the English, Scottish and Australian Chartered Bank bought 68702 of gold last week, but, on the other hand, the diggers who have returned condemn the field.

NEW GUINEA.

Brisbane, December 7. The Government have received a telegram from the Agent-Geperal, London, stating that the Secretary fop the Colonies has intimated that the Imperial Government deems it un? necessary for British sovereignty to be proclaimed over New Guinea, as the defence of that country is adequately secured by a protectorate. Mr Stanhope further states that if annexation or more protection be required, the colonies must find the necessary expenditure.

(Received December Bth, at' 1.15 p.m.) THE WRECK OF THE - CORANGAMITE. Sydney, December 8. The Corangam'ite is still stranded, but little hope is entertained of floating her. The insurances on the vessel amounted to £25,000. Portion is held by the Union Insurance Company of New Zealand. A LARGE TRANSACTION. The ‘ British-Indian ‘ gteam ‘ Navigation Company has purchased the flSet of the Australasian Steam Navigation Company for .£200,000. FLOODS. Heavy rains have fallen in parts of the country and serious floods caused in some places. _ _