LATE CABLE NEWS.

Globe, Volume XXII, Issue 2136, 29 December 1880, Page 3

LATE CABLE NEWS.

[Per s.s. Wakatipu, at Wellington.]

LONDON, December 20.

The City of Rangoon, in British Bormah, which was almost entirely destroyed by fire in the year 1850, has again been the scene of a most disastrous conflagration. Fully half the oity has been reduced to ashes, and over 60,000 people have been rendered homeless. In consequence of the critical state of affairs in Basuto land the Cape Government has addressed a despatch, to- the Secretary of State, requesting immediate reinforcements. The colonial forces in some of tha recent engagements have met with reverses at the hands of the rebels, whose victories have rendered them bolder in their actions. A meeting of the Cabinet has been called to consider the situation.

The action against the British Government in connection with the appropriation of the submarine cable for services in connection with the Zulu war has been heard and decided ia favor of the Government.

NEW YORK, December 21

The greatest excitement prevails in commercial circles in Chicago with regard to the financial position of numbers of the houses engaged in the grain traffic. A large amount of purely speculative business in grain has been done during the past few months, and a number of merchants now declare themselves unable to meet their engagements. A panio has consequently taken place in the grain exchange, and further failures are feared, as the prioe of wheat is falling.

[Per s.s. Rotorua, at Russell.j LONDON, December 20.

Affairs in South Africa, whioh have been causing much, uneasiness, have been further complicated by the action of the Boers, who assembled 5000 strong, and marched into Heildburg, a town in the Province of Swellenbourg, and have now established a Republic without having resorted to violence. Communication via Pretoria Pass, the principal route between Basutoland and the Cape provinces, has been stopped, and it is feared that the pass has fallen into the hands of the Basutos.