EFFECT OF BRITAIN'S NEUTRALITY.

Waikato Argus, Volume IV, Issue 280, 28 April 1898, Page 3

EFFECT OF BRITAIN'S NEUTRALITY.

The proclamation of neutrality by Britain hampers the movements of tho American Pacific squadron. PROBABLE SEIZURE OF PHILLiriNE PORT. An effort will probably bo made to seize a port in the Phillipines. STOPPAGE OF SPANISH MAILS. Measures have been taken to stop tho Spanish mails to and from Cufca. MORE SPANISH VESSELS CAPTURED. From Key West it is announced that the Spanish Atlantic liner, Panama, with valuable cargo of army stores has been captured. Two Cuban coasting vessels have also been seized. London, April 27. AMERICAN TORPEDO BOAT DETAINED IN ENGLAND. The British Government has prevented the departure of the American torpedo boat Somers from Devonport. (BT TKLEGRAHI PRESS ASSOCIATION). Auckland, Last Night. FALL IN GUM. There has been a fall at least of £5 a ton on gum for the week, consequent on the war. UNDERWRITERS' WAR RATES. The local Marine Underwriters' Association has received a cable from London announcing the war ra'.es now be : ng charged for neutrally - owned vessels trading between the United Kingdom or the coutineut and Australia or New Zealand and vice versa, as fo'lows : Steamers, 2s 6d per cent, net ; sailing vesse's, 5s per cent. net. These rates will also be charged by the Marine Insurance Companies in Australia and New Zealand ou vessels bound to Europe. The latest rates from the colonies to the United States were 5s per cent, on sailing ships tor New York, and 3 per cent, for ports on the Pacific coast. RISE IN .PRODUCE. The following are tho rises locally in produce : Bran, 10s per ton ; sharps, 15s per ton ; oatmeal, -£1 per ton. NEW ZEALAND FLAX. Enquiries hare been made locally regarding flax and thj prospect of a rise in price. The sale of flax is always dependent on Manilla, and notv that the latter is interfered with by the war, there is a prospect of a market beiug created in the United Kingdom for New Zealand hemp.