YESTERDAY'S TELEGRAMS

Globe, Volume VIII, Issue 957, 19 July 1877, Page 2

YESTERDAY'S TELEGRAMS

[by submarine cable, per press agency.] London, July 14 Wheat is linn. The next wool sales commence on August 14th, The new arrivals admissible will be restricted to 300,000 bales, exclusive of 60,000 bales held over. The market is quiet. Heavy failures in Yorkshire arc reported. The following vessels have arrived :—Loch Tay, from Melbourne; Marlborough, from Port Chalmers. INTERPROYIN Cl AL, Auckland, July 18. Barnett and Levy, proprietors of the Theatre Royal, have called a meeting of their creditors. Their liabilities are £20,811, their assets £23,583. The theatre block is credited at £12,500 (it cost £14,000). The Banks are credited with precipitating the commercial crisis. At a meeting of creditors it was resolved that the estate be assigned to Messrs Lamb, Brown, and Tonks, as trustees, the bankrupts being allowed their furniture and dwelling houses. The Loan and Mercantile Company held their annual meeting to day, and confirmed what was passed at the annual meeting held in London on 2nd February. Dr Campbell, the Chairman, congratulated the shareholders on the prosperity of the institution. Mr G. B. Owen and Dr Campbell were re-elected directors. Mr W. Innes Taylor was elected colonial auditor.

The City Council have agreed to reduce the water-supply tariff. They propose to consolidate the city loans by getting an Act passed for a final municipal loan of £300,000, including £155,000 already raised, but enabling no further loans to be raised except those already authorised, altogether £40,000; the loan to be for fifty years, and interest not to exceed 6 per cent.

Moanatiris dropped to £6 2s fid to-day. The boat race between the Brothers and the Pet has resulted in a victory for the Brothers by three minutes. There was a good breeze. The Brothers got a good lead in the first beat down, which the Pet never reduced. Dunedin, July 18.

In regard to the petition of settlers in the Teviot district to have more land opened there, the Waste Lands Board have decided “ That, in view of legislation regarding the land laws of Otago probably taking place during the approaching session of Parliament, this Board is of opinion, from evidence before it, that it would not be advisable to comply with the prayer of the petitioners.” The Colonial Bank of New Zealand announces a dividend for the last half year of 6 per cent, per annum, and to add £2OOO to reserve fund, thus making it £12,000, and carry forward £2038 to the next half-year. Invercargill, July 18. A fire at Waikari last night destroyed Tapper’s Hotel. The inmates had a narrow escape. Tapper was insured for £250, and the owner of the property tor £250. .