LATEST TELEGRAMS.

Southland Times, Issue 1716, 18 March 1873, Page 2

LATEST TELEGRAMS.

Wellington*, March 14. At a meeting of shareholders in the British Insurance Company, held to-day, a telegram was read stating that the directors intended to issue 12.500 new shares, at not less than 15s premium. A resolution approving of the proposal, and affirming that a preference being given to new shareholders, the new shares should be allotted to the existing shareholders in proportion to the shares already held by Ihem, was carried. Christcuttrch, March 14. Prime samples of Tuscan wheat are quoted at 4s 3d ; ordinary, 4s to 4s Id Oats are wanted for present delivery at 2s2d. Prime malting barley, 7s Gra^s seed is in demand at from Gd 9d to 7s. The consumption of butter ia in excess of the supply. The price is firm at G^d. Auckland, March 17. A heavy rain is now falling, and appears likely to continue, in which case it will interfere with the demonstration arranged onthe occasion of the Governor's departure to-morrow. The Southern Cross and the New Zealand Herald publish the details of the proposed electric telegraph cables. Tha proposals are to construct a cable from Australia. to New Zealaud, and also one from Norinantown to Singapore, lhe three colonies of New Zealand, New South Wales, and Queensland are to guarantee five percent, upon a million of capital, or equal to three per cent, upon what the cables will actually cost. If the scheme is ratified by Parliament, New Zealand will have to pay £16,700 per annum, but the receipts from the working of the line will almost equal that amount. The guarantee is to be for 33 years. A tweuty-word message from New Zealand to Australia is not to exceed 15s, extra words, 9d each. Twenty words from Normantown to Singapore are not to exceed 40s for the first two years, and afterwards 35b ; extra words 2s each. The two cables are to be constructed simultaneously ; four weeks yearly to be allowed for repairs, and £12,000 per annum allowed to cover all expenses, all receipts a ove that amount going in reduction ol the guarantee. ■ - -. Nelson, March 17. In tho second match on the principle i

suggested by Mr Sonlea, of Auckland, at 300, 400, and 500 yards, with the same sights aa the first match, Douglan, of Otago, scored 97 ; Melsopp, Auckland, 96 ; and J. Buchanan, Otago, 95. The presentation of prizes by Lieut. - Colonel Richmond, C.8., and Mrs A. Kichmond, took place on Saturday afternoon in the Botanical Gardens. In returning thanks the Volunteers referred to the almost regal hospitality shown them by the people of Nelson, Captain Wales called for three cheer» for the Nelson people, three for Colonel Kicbmond, three for Mrs Richmond and the ladies of Nelson, and three for Major Gordon's most satisfactory arrangements, for the firing. The meeting has been highly successful, there being a large attendance of visitors, with fine weather.