Cablegrams.

Pelorus Guardian and Miners' Advocate., Volume 1, Issue 57, 12 August 1890, Page 2

Cablegrams.

Launch of a Steamer*. r The Queen in Danger. The Wool Market. . The Argentine Republic. Imperial Politics. > ; LONDON, ' Augusts. A ferry boat carrying Het Majesty the Queen at Cowes (Isle of Wight), was partly submerged, owing to* the premature lowering of ‘ a landing stage from the Royal yacht. The mishap, which occasioned great alarm, was quickly rectified. • August 8. The New Zealand Steamship Co’s new steamer Takoa has 'been launched at Hartlepool. The official liquidators 6f the Panama Canal Company estimate the Value of the assets at £610,000. Two first-class (orpedo boats will be ’ sent immediately to strengthen the British fleet on the American station, j There is every .prospect : of prices hardening at, the next series of the wool auctions, which open in Septem;ber next. • Speaking at a banquet at the Mansion House, the Marquis, of Salisbury said the condition of Europe at the present moment was uninteresting; because it was eminently peacful,] and he was confident that the agreements entered into by England with Germany and France'with respect to African territory had removed the cause of future quarrels. Referring to Egypt, he said that country had become prosperous owing to English administration, and it would only be evacuated when England foynd that Egypt was able to secure .her own prosperity. Speaking of Ireland, he said affairs there were more peacful and prosperous and the people more contented than they were in 1886. ’ Marquis of Salisbury having threatened to send warships to Guatemala if .the British debt fund was diverted, the Government of that State has refrained Jfrpni,. ijtf Jprpposals. BUENOS AVRES, August 8. The populace are jubilant at the resignation of Dr > Coleman, and the state of the siege has been raised. Dr Pelegrim has succeeded in the formation of another Cabinet. The premium on gold has receded to 142,

New Zealand Mount Morgan The Reefton correspondent of the Nelson Colonist is responsible for the following:-—“ . It. will be within the recollection'of your readers'that I some time ago alluded to an immense auriferous deposit in this district, which was characterized as the coming Mount Morgan of New Zealand. A.crushing, however, of some thing like 100 tons,, taken indiscrrainately from the mountain and treated very roughly, having, yielded only 5 dwt to the ton, such a panic was created amongst investors as completely relegate*this mountain of wealth to oblivion, with the result that shares in any of the thereon were’ alihost unsaleable* This state of things, however, has again undergone a change in the opposite direction, shares all round being sought for at hourly advancihg-prices. ‘ All this lias been brought about by the extraordinary yield of 26 dwt !: to ihe ton from a parcel of 50 tons. When it id remembered that a tunnel'2ooft in length has been driven on this quality of dirt, and, farther, that it is proved for a length of three-quarters of mile, ahead, there is every justification for the very commonly expressed opinion that a New Zealand Mount Morgan is about to bedeveloped. It is estimated'that there are 22,00 men in New Zealand working under the Maritime Council. Tlie Trades and Labour Council nowposaoss a local membership of nearly and it is estimated that there are 18000 persons in New Zealand now working under that organisation. Altogether 40,000 persons in the colony are uriw associated with some kind of labor organisation. The R-efton Guardian says:—i. crushing of ajfna.ll piece of stone from the Cumborlmd reef was made by Mr W., Trying, the Company’s legal manager, and several other persons and the result yielded a prospect equal to 3ozs to the ton. The reef is large and well defined, and if it lives down 'any distance should send the shares up to a fair value.