NEWS BY CABLE.

New Zealand Times, Volume XXXIII, Issue 5304, 26 March 1878, Page 2

NEWS BY CABLE.

special telegram; : London, March 23. The Admiralty have purchased a small railway for military purposes, and also four power-; ful ironclads in the Thames, built for Turkey and Brazil. Money is in less demand, and rates are drooping. Bank rate, 2 per cent. The Bank reserve has been weakened by gold withdrawals. Consols, 953The market for Australian securities shows a downward tendency. New Zealand consolidated loan is quoted at 104. The wool sales show considerable weakness as the sales progress. The langour in demand has led to several withdrawals. (REUTER'S SPECIAL TO PRESS AGENCY. J St. Petersburg, March 23. At St. Petersburg it is semi-officially stated that owing to England persisting in her do. maud in regard to the peace conditions, the chances of a meeting of the European Congress have decreased. London, March 24. England proposes diplomatic communication to be treated as equivalent to presentationRussia refuses to believe that this communication will be fulfilled in view of the inadmissable pretensions of England. The relations between England and Russia are in a critical condition. It is reported that Russia demands that the British ironclad squadron should leave the Sea-of Marmora and the Dardanelles. The Russian Press is greatly irritated at Great Britain arming. Tasmania, Monday. News from the West Coast states the Pro tOS diggings, Mount Hemsdirk, is turning out another Bischoff. The washdirt is oft. thick, and no bottom ; nuggets two pounds weight. The discovery is causing great excitementWinter prevents operations! , Melbodhne, Tuesday. The Australian Eleven in their second innings made 240, and the ■Victorians 113. The Australians won by 157.