LAST NIGHT'S TELEGRAMS

Globe, Volume XX, Issue 1374, 11 July 1878, Page 2

LAST NIGHT'S TELEGRAMS

[BY SUBMARINE CABLE.] [special telegrams to the press AGENCY.] London, July 8. Ministers have confirmed the conclusion of the treaty with Turkey. The Congress continues for a while. Russia retains Batoum, Ardahan, and Kars. The Turks promise reforms. England is to occupy and administer Cyprus forthwith. Sir G. Wolseley is appointed Governor. Congress is occupied with the limits of the Bulgarian frontier. [eeutbb’s telegrams to the press AGENCY.] London, July 9. Cyprus remains part of Turkey, the surplus revenues being payable to the Sultan. The British withdraw on the restoration of Batoum, Kars, and Ardahan. The Press approve warmly, but the Daily News” condemns the terms. The Channel squadron has gone to Cyprus The Home Minister, in reply to a question, said that Russia retaining Batoum, a defensive treaty of alliance has been concluded between England and Turkey. The Porte cedes Cyprus, which England will forthwith occupy. AUSTRALIAN. Melbourne, July 10. The Claud Hamilton sails next Wednesday, the Tararua to-day, and the Alhambra on Thursday. Sydney, July 10. The Tanjore, with the Suez mails, arrived at King George’s Sound. The Somerset is at Cook Town. It has been decided to hold an international exhibition next year. INTERPROYINCIAL. [PBB PRESS AGENCY.] Auckland, July 10. At Newcastle, Waikato, Mr Whitaker emphatically declared himself a supporter of the Grey Ministry so long as they continued their present progressive policy. The Rev. Mr Edgar has resigned office as Grand Worthy Chief Templar of the North Bland. In banco to-day Judge Gillies, in the will case Pierce and another v Chisholm, ruled that trusts for twenty-five years under will were bad, being against the rule of law relating to perpetuities, also against Phelluson’s Act, and, therefore, must be set aside. A direction to lease real estate for the same period must fall with the other trusts, and the estate must be declared intestate, subject to certain accumulations which must be equally divided between testator’s children. Application was made for an appeal against the decision of the Resident Magistrate, in which a farmer named Polly was fined under information by Mr Lewis, sheep inspector, for having one scabby sheep in a flock of sixty-five. Counsel argued that the inspector only examined one sheep, and defendant had no knowledge of the infection. The Judge ruled that where one sheep was scabby, it must be assumed that all are scabby. The owner was bound to have a knowledge. The application was dismissed. The profit and loss account of the New Zealand Insurance Company for the halfyear ending May was—Dr. to dividend halfyear ending 30th November, 1877, £15,000 ; commission, salaries, and other expenses, £24,640 Os 8d ; fire and marine losses, £46,412 6s 9d ; appropriation for unpaid losses, £30,520; reserve fund, £35,000; balance, £18,773 8s 6d ; total, £170,445 15s lid. Cr., by balance from last half-year, £24,677 15s lid ; appropriation for last half-year, £31,363 ; fire and marine premium (less reinsurances), £101,829 11s 7d ; interest, rents, and transfer fees, £10,189 4s Id ; increased value of investments, £2386 4s 6d ; total, £170,445 15s lid. The Chairman, in moving the adoption of the report, referred to the keen competition with rival companies. The figures proved the New Zealand Company still held the premier position in the colony. The receipts were still maintained, notwithstanding the exceptionally heavy losses. The customary average was not exceeded, and a tangible sum was carried to reserve fund. Every loss up to the closing of the books was provided for. The paid-up capital w T as £200,000 ; re-imu a'ice fund, £IOO,OOO ; the new reserve fund, £35,000. At the local annual meeting of the New Zealand Loan and Mercantile Agency, the i chairman referred to the further issue of i

£40,000 worth of shares to place further borrowing powers in the hands of the company. The development of business rendered an increase of capital necessary. The settlement of waste lands open a wide area for investment. The wool, grain, and other produce consignments of the company showed a large increase. Messrs Browning and Stone were re-elected directors. Napiee, July 10. Colonel Lambert’s freehold estate at Ruataniwha, 7100 acres and 6000 sheep, all cattle, horses, and plant, was sold to Gillingham and Sons, of Lumbrook, South Canterbury, for £30,000. Twelve months ago Col. Lambert wanted £21,000 for the estate, but no one would give that sum. Eighteen months ago the property was valued at £IB,OOO. An action for libel is about to be brought against the Hawke’s Bay “ Herald” by Hugh McLean, about whom a letter appeared in the “ Herald” some months ago, referring to him in a sarcastic manner. McLean admits that there was no malice on the part of the “Herald,” but the letter has been destroyed and the writer is unknown. Invekcaegill, July 10. To-day was observed as a public holiday on account of the opening of the WintonKingston line. The town was nearly deserted. The nomination of candidates for Invercargill election took place to-day. Messrs J. W. Bain and H. Feld wick were the only candidates proposed. The show of hands was in favor of the former. [EBOM OUB OWN CORRESPONDENTS.] Timabtj, July 10. Allan and Stumbles signed the breakwater contract to-day. Dunedin, July 10. Mr Henry Driver announces himself as a candidate for the Roslyn constituency.