LATEST AUSTRALIAN NEWS.

Lyell Times and Central Buller Gazette, Volume VI, Issue 303, 11 December 1886, Page 3

LATEST AUSTRALIAN NEWS.

0 Melbourne, December 6. It is again reported that the second instalment amounting to £4,000,000 of theVictorianloan of £8,000,000 will be issued in London in January next. December 7. The Chamber of Mauufacturers is opposed to the proposed exhibition. It is intended to invite his Royal Highness, the Prince and the Princess of Wales to the inaugural ceremony in connection with the Centennial Exhibition in 1888. The preliminary arrangements for the exhibition are being rapidly pushed forward. The area'allotted-will largely exceeded the total of the exhibition of 1880. Commissioners will be appointed in both Melbourne and London. The Government received a telegram from the Agents-General collectively stating that the basis of the Imperial Institute has been remodelled, and it will be called the Imperial Institute of the United Kingdom, British Colonies' and India. Half of the space will be reserved for the different colonies and India, each controlling its own section. The committee contemplate holding periodical exhibitions of specific industries and products. December 8. The Government of Victoria and New South Wales have decided to reduce the terminal charges on ordinary telegrams between Australia New Zealand to sixpence each, in place of a shilling for the first 10 words as at

present, the change to take effect on January Ist* Sydney, December 8. The Carangamite is still standed, and little entertained of floating her. The insurances on the vessel amount to £25,000. A portion is held by the Union Insurance Company of New Zealand. The British-Indian Steam? Navigation Company have purchased the fleet of the Australian Steam Navigation Company for £200,000. Heavy--.rains have fallen, and in parts of' the country serious floods have been caused. Adelaide, Decemcer 7. The accounts from Teetulpa continue conflicting. It is known that the, English English, Scottish, and Australian Chartered Bank bought 687 ounces of gold last week, but on the other hand the diggers who have returned condemn the field. Brisbane, December 7. The Government have received a telegram from the Agent-General in London starting that the Secretary for the Colonies has intimated that the Imperial Government deem it unnecessary that British sovereignty be proclaimed over New Guinea, as the defence of that country is adequately secured by the protectorate. The Hon. Mr Stanhope further states that if annexation and protection is required the colonies must find the necessary expenditure.

(Continuation of News, see 4th Page.)