LATEST CABLE NEWS.

New Zealand Times, Volume XXXII, Issue 5030, 8 May 1877, Page 2

LATEST CABLE NEWS.

EUROPEAN INTELLIGENCE. (REUTERS SPECIAL TO PRESS AGENCY.) Singapore, May 5. Sir Stafford Northcote, in replying to a question, said England was unprepared to conBent to the exclusion of war vessels from the Suez Canal, but would take step? to protect ■the canal. The Russians are gradually advancing into Servia, and have occupied Bayargia. ■" London, May 5. : Austria, though neutral, reserves liberty of action to protect its own interests. 1 Military preparations are going forward.in the. English arsenals and dockyards. ■ The Porte ' has, protested to the other Powers against the; recently signed RussianRoumanian Convention, and has suspended' the . functions of the" Roumanian Agent at Stamboul.

The Times 6tates that seven cavalry regiments, four brigades of artillery, and forty-nine battalions of infantry, are a reserve for service' abroad, if required. The whole of the Russian army is-plaeed-on-a war footing. . - ' Money is stiff. Bank minimum rate of discount is 3 percent.; reserve fund is £3,000,000. Stock recovering, with the exception of Consols, which are down to 93J. Wheat has been arrested ; market now quiet; New Zealand, 655. Gd. ; tallow .weaker, ami has de- ■ clined Is. The following ships have arrived at London: —Canleigh Castle, True Briton, Clara, Sarah Rice, Oneida, from Melbourne; Martha Birnie, Queen of Nations, La Hogue, ' Nineveh, from Sydney ; Elizabeth Graham, from Dunedin ; St. Leonards, from Wellington; Helen Denny, from Napier.