Delays Signing The Treaty

Washington, Jan. 2. - The new treaty betwoen the United States and G;at Britain, by which a!l differences bctween the two rountries for the next flve years are to be referred to arbitration will not be signed at present. Mr. Olney aml Sir Julián Pauncefote closed tho negotiations about seventeen days ago, and the final draft was made and forwarded to Lord Salisbury. As it included all the features which had been agreed on during the negoiations no doubt was feit that a apeedy approv al would be given by Lord Salisbui and thai the signatures to the instrument thereon would be affixed at Washington. It was expected that the document would be signed coincident with the new ycar, hut this expectation wlll not be roalized. There is no reason to bsliev that ; the prospects of ultimata agreement ari' i less favorable than they have been, th deli.y doubtless being due to some un. essential ai'stlon.