CAPE TOWN NEWS.

Temuka Leader, Volume I, Issue 78, 14 September 1878, Page 3

CAPE TOWN NEWS.

’By Telegraph.]

Wellington, fcept. u. , The correspondent of the Press Agen'cy writes from Cape Town on 80th July as follows ■: — , Our colonial markets, with the exception of breadstuff’s and brandy, have been inactive but steady. The anticipated famine on the frontier and independent native districts Avas happily aA r erted, but its anticipation has led to the order of immense stocks of Avheat, flour, and meal, from all parts of the Avorld,. a large quantity of Avhich still remains unsold, and Avhat has changed hands has been generally at reduced rates.

During the first six months of this year the importations of breadstuff's and feeding grains have exceeded the total importation of any former twelve months. A cargo of wheat and flour ex Sunbeam, from Lyttelton, was mostly sold privately, but some 90 tons of the flour were sold by auction, and realised from 15s 9d to 16s per lOOlbs duty paid. The speculation in brandy has been caused by the general opinion prevailing for some time that colonial spirits would be heavily taxed to meet the - deficit in the revenue, and this was amply verified. The deficit in the revenue was estimated by the TreasurerGeneral at £250.000 exclusive of one million for charges. The latter the Government proposed to meet by a loan, and the former, by a tax on colonial and foreign spirits of 2s per gallon ; a house tax ; a receipt stamp tax ; and an increase in the ad valorem duties. The receipt stamp proposal Avas afterwards dropped in favor of increased duty on tobacco ; and the tax on colonial spirits was reduced to Is per gallon, without any drawback on importations, A proposal of;the leader of the Opposition was adopted by the Government, to tax the stocks of colonial spirits on hand. It was vehemently opposed by merchants, the principle Avas affirmed by a large majority in the Lower House, and the Bill has passed through committee in the Upper House to-day Avithout amendment. The last quotations of avoo! are good, light greasy, 6|d ; fleece AA'ashed, 9|d to Some superior mohair fetched from Is 7d to 3s 4d ; but middling and common remain at the old rates. Affairs in the Transvaal arc still unsettled. The chief Secoceni, instigated no doubt by Oety Wayo, the great Zulu King, has permitted his tribe to lift cattle in all directions, and serious fighting has been the result. The troops have now been released from duty in Kaffraria, and reinforcements from England will probably soon arrive, and bring the natives to (heir senses. The weather has been extremely cold, with a succession of fierce gales from the north and south-east, .