AUSTRALIAN NEWS.

Waikato Times, Volume XXXIV, Issue 2741, 6 February 1890, Page 2

AUSTRALIAN NEWS.

(BY ELECTRIC TIiLKOKAI'II. —COPYRIGHT),

Sydney, February 4. So far as the predictions made in October last by Mr Fgeson of the Weather Department, that there would be very heavy rain followed by large floods in the early part of 1890 have been fulfilled. The rain fall in the northern districts has been extraordinary, some statioi>3 registering 1 a3 much as seven inches in 48 hours.

Steamers which are arriving in port much overdue report experiencing terrible weather along the coast It is reported that a vessel, name unknown, has been wrecked atSmokey Cape.

The Rev. Canon Smith has withdrawn his acceptance of the bishopric, of Sydney in order to remove the dead-lock which has arisen.

Adelaide, February 4.

The ship Cumbrian Princess, Captain Evans, 1350 tons, from Melbourne, is ashore at Wallaroo, and it is feared will become a total wreck.

Bkisbaxk, February 4,

It is estimated that the recent floods v.iil result in loss of fully £30,000 in the

entrar industry. The damage from the same cause iti the Marlborough district it. reported to be close on £70,000. Mhlh iI'RNH, February 5. Ink'iisft heat still prevails. The actuarial investigation into the aflai is of tile Premier Permanent Building Association which recently closed its doors, reveals an extraordinary state of

alfairs. During three years, loans amounting to a million ami a-half were issued. As an example of the loose way in wi>i.:h advances were granted, it is stated that one person borrowed a hundred thousand pounds though he was already responsible for five previous loans amounting to £00,000. Not one of them was paid.