CABLE NEWS.

Wairarapa Daily Times, Volume XV, Issue 4469, 13 July 1893, Page 3

CABLE NEWS.

British and Foreign, London, July 11, Mr Arnold Morley, the Post masternGeoeral, admits that the ; Pacifio route is the beat for both cable and mails, but regrets that the inelastic natnroof the finances precludes a subsidy being granted to the Huddart-Parker steamers at presont. The publto subscribed £25,000 of the amount offered lor the Napier Harbour Board loan, It has been known for a fortnight that the New Zealand Loan and Mercantile Agency Company was embarrassed by the bank failures in Australia. The directors met daily, and were hopeful of surmounting their difficulties until yesterday, when they found that they would be unable to carry through certain financial arrangements with Australian banks, The Standard Bays the suspension comes as a shook to those who thought New Zealand would esoupo scot free. The directors statu thai a scheme for re-formation will shortly be devised. It would be foolish to wind up so profitable a concern, especially as only £500,000 is needed to carry on. This amount will probably bo obtained by a call or by the issuing of preferential shares. A large sum has bsen locked up in sheep-walks, though not much Ims been invested in this direction latterly. Owing to the bank crisis, facilities for financing wfre out off, and the Company was unable to rapidly realise its securities. It has also found it impossible to discount London acceptances on the suspended banks, Melboubnb, July 11, Through a crane breaking two men named Dell and Pencole were precipitatod 100 teet from the top of anew building, and killed. Their bodies were fearfully mangled. A third man named Masson was badly injured, and lies in a critical condition. Sir Matthew Davies was formally committed for trial to-day. Adelaide, July 11. A train conveying a non-Union crew for the steamer Innammck was stoned, but no one was injured. | Several Bteamers have sailed with new crews. Sydney, July 11. The man Archer, a groom, con- ' vioted of murdering Miss Harrison, ' who .lived in the same, bouse as he and tie ffife did, was executed to-day,

He madera short speech, declaring he was not guilty. A terrible bangle, whioh resulted in a shocking scene, wus made by the hangman. Tho nooso slipped under tho unfortunate man's chin,' and six minutes elapsed before he died. Archer was groaning dreadfully all the while, and altogether it was the most fearful scene over witnessed in Darlinghurst gaol. The raedioal inspection afterwards showed that neither nec'luior windpipe was broken, and that the convict was really slowly strangled to death.