SUEZ MAIL NEWS. London, June 5.

Te Aroha News, Volume III, Issue 112, 25 July 1885, Page 5

SUEZ MAIL NEWS. London, June 5.

The Loon Operations. It is a coincidence that on the same day (Thursday last) aa the Agents-General met to discuss the proprosed increase in stamp duty on colonial securities, the announcement was made of a new iesue of New Zealand 4 per cent, consolidated stock. It is called a new loan, but in effect it is one with the million of stock placed here last January. The terms are the same as regards dividends and redemption. The minimum price of 97£ percent, is the same, and the whole will rank part pasm with the entire amount of existing 4 per conts. Now that the war scare seems to have passed, money is exceptionably cheap and plentiful, so that it has been confidently expected during the week that the million and a half of issue would be more than covered, even at an advance upon the minimum. Since January last the average price of allotment was 99^. This anticipation has not been disappointed. The tenders were opened yesterday afternoon at the Bank of England, and the applications amounted to about £6,500,000 at prices varying from £100 15s 6d to £97^. The minimum tenders at £100 3s 6d will refeiveabout34 per cent, of the amount applied for, while those above that price will be allotted in full. The average price obtained is £100 6a 2d.

West Coast Harbour Loans. On this result becoming known, it was announced that tendors would bo received by the Bank of New Zealand for two new harbour loans, one for Grey mouth and the other for Westport, both guaranteed by the New Zealand Government to bear 4 per cent., and to be issued at 95 per confc. minimum.

New Australian Cruiser. A hundred, and fifty seamen have left to join the new armed cruiser Stirling Castle at Malta She will then proceed to join the Australian Squadron.

New Zealand Affairs in the House of Commons. The House of Commons met yesterday after the Whitsun recess, and after Bomo discussion ib went into Committee of Supply on the vote for the Colonial Office. Mr Gorst, who has been figuring for some time as a champion of the native races, complained that the Government had broken faith with tho native chiefs of New Zealand, despite the existence of a eolemn treaty. Mr Ashley, Under-Secretary for the Colonies, pointed out that by giving responsible government to New Zealand the country had abandoned every right to interfere in its internal affairs. He believed the native chiefs had I not substantiated a real act ot injustice. ! Thereupon Lord fiandolph Churchill jumped up, and demanded why no reply had been given to the Maori memorial. In an eloquent speech he contended that the Imperial Government had the most absolute right to interfere for the protection of native races. Then Mr Gladstone rose and said no final judgment had yet been given on the case submitted by the Maoris. Having said that, he contented himself with enlarging upon the contention of tho Undersecretary for the Colonies.

Wheat Crop, The first lot of the new crop of New Zealand wheat came to hand last week, It is a sample of rough berry of fine quality, and in perfect condition worth 34s per 961bs. It is doubtful in Mark Lane, however, from the accounts received of the condition in which most of the wheat was harvested, whether the bulk of the shipment will be equal to this first instalment of 1,621 quarters which have already arrived,

International Parcels Post. It is officially announced that the General Post • office is engaged in negotiation for the establishment of an international parcels post with most of the British colonies and foreign countries generally, This will be a very pretty and interesting experiment, but when shall we have a Postal Union that shall embrace most of the British colonies, and abolish the anomaly which the " Pall Mall Gizette" calls attention to— that a letter may be sent to Chira, Tahiti, the Fare Islands, and other outlandish regions for 2£d, while it costs 6d to send one to Australia or New Zealand ?

Advances on Wool. In an important case decided in tbe Court of Queen's Bench last week, a rule was laid down of great interest and value to shippers of wool. Where cash advances are made against wool deposited with the leading merchants, who also hold bills from the borrowers for the amount of the advances, then, if the borrowers go into liquidation, the tenders can only prove for tho bills after giving credit for the value of • the deposited wool .