PREPARATIONS FOR WAR.

Waikato Times, Volume X, Issue 754, 17 April 1877, Page 2

PREPARATIONS FOR WAR.

Lord Derby, m the House cf Commons, regretted that ; the Circular of :the Potfte^vas against peace. Lord Jlartington, m moving for the production of additional papers, asked how Government reconciled the Protocol^ with the integrity and indendence ,of -the Porte. ;

Mr Gathorn Hardy, Secretary of State foi? "War, refused tlie papers, but said that England's last word was m favour of peace, and strong objections were uttered against war being made with Turkey. England signed the Protocol to afford Russia a chance to disarm. ;

The motion of the Marquis, of Harrington was withdrawn. The demands of Montenegro have been finally rejected. Hostilities have been ra-commenced. The Russians . are advancing oa Jassy. The Russian reserve on furlough isj ordered to re-join. Declaration of war is believed to be imminent.

The reserve of Roumania and permanent army is called out.

There was a panic during the week on the Stock Exchange. Consols fell, over- half per cent, and are now at "9 6.;< f Russian " stocks felli 5 per cent. Turkish money is easier The minimum discount is unchanged. Australian securities are uuaffected. •.•■••;■•■•■

TheOamaru loan £65,000, is all subscribed for above par. A court martial on Captain Stevens, of the ' Ba.rracouta/ resulted m his dismissal from the service.

A third immigrant ship with 350 souls aboard, is leaving New York for Sydney.

To-day the Chancellor of the Exchequor's Budget estimates the surplus at the end of the year at £450,000 j estimated revenue of United Kingdom at £79,000,000 ; expenditure at .£70,700,000. There is no increase or remission of taxation.

At a fire m one of the hotels at Sfc Louis, fifty persons perished. The wool market is depressed, owing to the prospect of war and heavy arrivals. Wheat :— Prices are advancing : Now Zealand ia at 5s to 5s 9d.