CAPE COLONY. (BY TELEGRAPH FROM WELLINGTON.)

North Otago Times, Volume XXVI, Issue 1880, 6 May 1878, Page 2

CAPE COLONY. (BY TELEGRAPH FROM WELLINGTON.)

The own correspondent of tho Press Agency writes under dato Capetown, 16th February : — Trado has been dull during tho past month excepting for grain and breadstuff's for which thero has been an unusually groat demand caused undoubtedly by the disturbances on the frontier in some measure, but principally by tho disastrous drought existing on tho eastern, midland, and northern districts. Tho rains during the past three years havo been but scanty, and in many districts there has not been a drop for thirteen months ; vegetation is burnt up. and water impossible to obtain. It is not an exaggeration to say that fully one-half of the stock of tho Colony will bo lost for want of water and pasture. Sowing is impossible, and the Kaffirs will not reap a crop till March, 1 879. Largo orders for gram have been sent to Australia and America, so that there is no foar of an actual famine. Pricoa will probably soon experience a foil. The following are tho ruling prices for atablo oxports. Money continues oisy. Tho banks discounting three months bills at 6 per cent., and months at 6£ per cent. Tho banks are buying 90 day bills at l£ to 1J per cent, discount, and are selling their own 30 days bills at | to £ per cent, discount. Treasury bills aro soiling at \ per cont. discount. There has been considerable activity in shipping. The only arrival from Australia has been tho FerninKham, from Adelaide, with broaclstufTs. There have boen several encounters between tho Imperial and Colonial forces and tho Kaffirs, but nono of a decisivo nature. Tho Kaffirs aw? invariably defeated, and large numbers of cattle captured, but they Beoin t6 bo dispensed in ono placo, only to appear again in another in greater force. Sir Bartle Frore having had differences of opinion with tho Mbllerir Ministry, dismissed them, and called upon Mr Sprigg to form a new Ministry. February 7th was observed as a day of humiliation to avert tho calamities arising from drought and war. February 19. Slight rains havo fallen in many parts of the Colony, and Natal has had a succession of downpours. There aro thereforo somo hopes of a speedy break up of tho drought. Tho steamship Kaffir, Captain Ward, belonging to the Union Company, and carrying mails between here and Zanzibar, was totally wrecked on tho Albatross Rock, off papo Point, in broad daylight. An official enquiry will be held to-mor-row, when Somo extradinary and damaging facts are expected to be elicited. The mails and four lives woro lost, and somo eighty of the passongers had to remain on board the whole night.