LATEST ENGLISH NEWS.

Grey River Argus, Volume XII, Issue 1234, 12 July 1872, Page 2

LATEST ENGLISH NEWS.

(INDO-AUSTbALIAN TELEGRAPH.) [PEE REUIBR's CO. AND ASSOCIATED" PRKBB. ] Auckland, July 11. The following is the first direct telegram of news from; England per Beater's Company to the Australian Associated Press by submarine telegraph : — ' lioNpoN,' June i : 22.f. The iftmes, in reviewing correspondence with the Australian Governors on the subject of intercolonial' commercial reciprocity, remarks that if the Colonial Legislatures, after mature deliberation, petition the Home Government for a repeal of the law against the Government differential duties, a concession must ultimately be made, but if the power so acquired be used in a protectionist sense, as distinct from the simple removal of obstacles to trade which might be effected ! by a Customs union, it will seriously weaken the bonds attaching the Colonies to Great Britain. The production of correspondence on the Victorian tariff has been refused. ; The proposed New Zealand and Tasmanian; loans have been placed . on the market. •'• < • ii .. The total arrivals of wool amount tonpwards of 200,000 bales. The attendance of both home and foreign buyers was large, and bidding commenced with great spirit. Prices, compared with those of the last series, show a slight decline. Up wards of 4500 bales were offered.; Sydney wools preponderated. . Tallow is dull, and shows a slight decline ; mutton, finest qualities, command 42s 6d to 445 ; beef,- finer qualities, 41b to 425. '■■;""■■'■■■■ '■ -'" : " ■:::■[ Wheat, 62s per quarter. A dividend of 10 per cent, has been declared by the Otago and Southland Investment Company. Debentures.-— Victoriiin 6 per cents, January and July, 118 ; Victorian 6 per cents, April and October, , 112£ ; Victorian 5 per cents, January and July, 108 ; New. South Wales 6 per cents, 104 f; New Zealand 5 per cents, Consolidated, 101£s New Zealand 6 per cents, 112; Queensland 6 per cents, January and July, 113; South Australian 6 per cents, short dated, 112 ; ditto, 6 per cents,' long, dated, 112 ; Tasmanian 6 per cents," 113. 'Banks.— New South' Wales, L 3 9.-.' ;-.: Aus tralasia, L 53 ; Union, L 45. , \ . : Arrivals. — Strathnaver, Hawksbury, from Sydney ; Sharstone, frbih Adelaide ; City of Sparta, City of Perth^ from ,, Melbourne ; Fugitive, from Launceston ; Malay, Queen Bee, from New Zealand. A private telegram states that Admiral Robinson's proposed Steam Navigation Company has been floated ; and further, that the P. and O. Company 'arranged with the Italian Government that their* steamers shall call at Ancona and Venice. Great indignation is felt in sonsequence of a telegram having been received stating that the British American Company intend laying a cable immediately between Port Darwin and Norman Biver. In a telegram dated Daley' Waters, 26th June, Mr Todd forwards the following message compiled from the Java papers, of dates from the Bth to the 14th June :— England and America have been nearly on the point of declaring war. The opposition given by America in the settlement of the Alabama question was considered so unsatisfactory that: England said she would wash her hands of . the whole matter. America spoke about war.. England intimated that she was' prepared for that also. Later news dated June 14 states that the House of Lords warmly debated Earl Russell's motion to suspend arbitration till the claims for consequential damages were withdrawn. Lord Derby and others supported Earl Russell. The Marquis of Bipon accused the Conservatives of assuming an unpatriotic attitude. America has proposed a commission to arrange a treaty defining the rights of neutrals. General Grant has been nominated for re-election as President. : . : These are the ; difficulties existing against the formal withdrawal of the American claims, but it has been decided not to urge them at present. < Several speakers in the House of Commons persisted at once in having the question settled one way or the' other, The submarine cable has broken between Java and Port ; Damn; ■ J The steamer Investigator is on the spot with all necessary appliances, and it is expected the damage will be promptly repaired. V . M .'.•„ ..•;...•