FOREIGN.
[BY TELEGRAPH.-COPYRIGHT.) [HKOTKII'B TELKGHAMS.] [Received March 11th, 12 55 p.m.] London March 10. Tue navy estimates show an increase of £650,000 compared with previous year. No reduction being considered possible by certain economical reforms which have been introduced by the Admirality Department. The navy, however, is now stronger than formerly, there having been an increase of eleven hundred officers and men. The American Minister has taken occasion to deny that any naval design has been bought by his Government from any official in the British service. In the House of Commons to-day Sir Henry Holland replying to a question, stated that the Imperial Conference would last some weeks. BANK OFENGLAND. London, March 10. The Bank of England has to-day reduced the rate of discount from 5 to 3£ per cent.
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Waikato Times, Volume XXVIII, Issue 2289, 12 March 1887, Page 2
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131FOREIGN. Waikato Times, Volume XXVIII, Issue 2289, 12 March 1887, Page 2
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