CABLE MESSAGES.

Akaroa Mail and Banks Peninsula Advertiser, Volume 3, Issue 281, 28 March 1879, Page 2

CABLE MESSAGES.

(from the lyttelton times.)

LATEST EUROPEAN

London, March 22.

A commercial panic has occurred at New Orleans, and there has been a run on the banks in that city. Hostilities have been recommenced by Lord Chelmsford. Colonel Pearson has burned King Cetawayo's kraal. In the engagement which took place by far the heaviest loss was sustained by the Zulus. , " Wheat is a shilling lower; mutton tallow sixpence lower. The money market is weaker. The Bank rate is per cent. Discount rates in the open market are considerably below the Bank minimum. The stock market is steady. In Government debentmes business is brisk. The scrip for the new loan is at 100. The wool market is firmer. There was a better attendance for the Home trade. Prices are less reserved, though without noticeable alteration. Wheat is lower. New Zealand, 43s to 465. March 23. Latest Cape news states that the relief of Colonel Pearson at Ekowe will be postponed until Lord Chelmsford is strongly reinforced. March 24. In the House of Lords to-day the Secretary of State for Foreign Affairs, replying to a question, said that if the Treaty of Berlin were not fulfilled, the Sultan, thought the British fleet in the Sea of Marmora, should be sent to the Black Sea to secure compliance with the conditions, and that he (the Sultan) should be authorized to ask assistance from his allies. The Secretary of State added that he did not anticipate that the contingency alluded to by the Sultan'would arise. ; ,

A Boyal Commission has been appointed for the Sydney and Melbourne Exhibitions, under the Presidency of the Prince of Wales. The Select Committee has commenced the enquiry into the O'Loghlen election. Mr Berry was the first witness Sir John Coode's scheme for the improvement of the river Yarra and docks insolves a cost of over one million. March 26. Government has accepted the tender of the Eastern Company for the construction of a cable from Aden to Zanzibar, Mozambique, Delagoa Bay, and Natal. St. Peteesbubg. March 24. The Eussian Government suggests a mixed occupation of Roumelia after the Russian troops have evacuated that territory. Capetown, March 5. No further fighting has occurred since last advices. Minivrasi, Chief of Basutu Land, is in rebellion against the British rule. Paris, March 22. The Chamber of Deputies voted a resolution by a large majority to amend the Constitution in order to empower the French Chambers to sit in Paris instead of Versailles. Bombay, March 25. The Duke of Cambridge denies that Lord Chelmsford complained against Sir Bartley Frere in connection with the Cape disaster.