CABLE MESSAGES.

Akaroa Mail and Banks Peninsula Advertiser, Volume 3, Issue 234, 15 October 1878, Page 2

CABLE MESSAGES.

LATEST EUROPEAN

WAR COMMENCED BETWEEN ENGLAND AND AFGHANISTAN.

STORMING OF A FORTRESS

[Special to the press agency] London, Oct. 3. A Cabinet Council has been summonded for Oct. 5 to discuss the Cabul question. The total liabilities of the Glasgow Bank are reported to be ten millions ; assets are unknown. One cause of failure was the lock-up of its capitals in Australian and New Zealand bonds. A fourth attempt on its part to transfer a portion of its liability for New Zealand advances failed. Owing to the Glasgow Bank failure three Indian firms have stopped payment with three millions liability. They are Smart and Fleming, London ; William Michael, Bombay; Fleming, Kurrachee. A great number of other firms are involved. The Scotsmanstates that the results of these failures are more disastrous than the failure of the Western Bank in 1857. Several Scotch banks are proposing to their depositors the immediate payment of half their deposits. In the skulling match for the championship of America, five miles, Hanlon beat Courtney after a close contest. The negroes at Santa Cruz revolted, and took possession of the island, and committed murders and fearful atrocities, '.o Sir H. Layard is expected in England shortly to confer with the Government. The Daily JSTews says that the immediate advance of the British troops on Cabul is decided. Count Andrassy retires from the Chancellorship of the .Empire, remaining a member ol the Austro-Hungarian Cabiuet. The Emperor has gone to Pesth to endeavour to arrange matters. Evidence at the enquiry as to the Princpss Alice disaster shows that the cause jof the collision was that the captain and pilot on the other, steamer were drunk. i , . Oct. 5. Potter, Wilson, and Co., Glasgow, have failed for £600,000. The money market is rather firm, but . owing to the failures discount rates in open market are stiffening. The Bank I reserve has been reduced to one and a I [ half millions by the gold drain in Scotland. Consols, I

The stock market is disorganised by the mercantile failures. Australian securities continue depressed, and New Zealand are lower. Oct. 7. r .,, v The Cabinet dispersed ' country, after the meeting , on- Qct.,-sv;* v It is understood that,no definite contusion was arrived at on the Aflglian question, but that the Government will sj&ffpOijt the Governor-General of. India.iPßrQbably Kandahar and JellarabKd wjll *be occupied before the winter.' : ' 'j 1 .., OcCSf " The revolt at Santa Cruz is suppressed. Large reinforcements leave England immediately, to augment the batteries and regiments selected for service in Afghanistan. New York, Oct. 3. The second innings of the New. York Eighteen closed for 98. The game was won by the Australians, who left for San Francisco. The Australians are now playing againgt eleven : at Philadelphia. The first innings of jtherPhila-i delphians closed for 190. : ' • Oct. 6. The first innings of the, Australians-' against Philadelphia closed fo.rlSO ' and the second innings of Philadelphia -for 53. The match resulted in a draw when the Australians had, ..lost./ five,, wickets for 5,6. ..'. ] ~,,,.; ' ..,"■' [SPECIAL TO THE WELLINGTON POST.] London, Oct. 4. Messrs Smith and Fleming, East India merchants of Leadenhall street, have suspended payment. Their liabilities amount to several millions. The liabilities of the City of Glasgow Bank, amount to ten millions, and the acceptances to three millions. The failure of the Bank is partly attributable to advances made upon Australian wool, and upon land belonging to the New Zealand and Australian Land Company. The announcement of the failure has caused a general panic. The other Scotch Banks are safe, but some serious commercial failures are impending. Oct. 5. The Affghan army is mustering in the passes, and their outposts are within three miles of the British outposts. The Emperor of Germany entreats the Czar to prevent the conflict spreading. The Albanians have massacred a' Pasha and 156 of his attendants. The cricket match, Australia v. Philadelphia, was drawn. A. Bannerman sprained his foot during the match. Oct. 7. War has been commenced. The British troops moved a strong force against the fortress of Alimussum, on the frontier, and after a severe conflict captured the fortress. The Ameer continues warlike. The British commissariat is defective. The Ameer is making'great preparations. : The Eussian newspapers encourage the Ameer's resistance.