COMMERCIAL ITEMS

Dominion, Volume 12, Issue 78, 27 December 1918, Page 8

COMMERCIAL ITEMS

BANK AJIALGAMATIONS. _ Divergent views of British banks' ame«lgamations aro entertained by different financial -authorities. The most ominous portent ill the movement is, for somo critics, the trend towardß thb creation of a money trust, anent which iiossibility tlio committee that dealt with the position recently entertained little fear of imminent development, although it recognised tho need for preventive precaution oil the part of tho legislature. On this phase of tho jjionpect' a,' writer in the "Outlook remarks that even where perhaps hve local branches of different bonks are reduced to three or two, it is probable that if not fewer than two rivals remain "a sumciently healthy spirit of competition will survive—a, duel is often more deadly than a melee." To sum lip, the writer declares that.as long as henlthy corn pet tion is preserved, and the funds under centralised control are equitably to all centres—tiadiiig.manufacturinE. anil agricultural—the bank mei-Kt-i-K v.;hic-n llave arouvd so much hostility are likely to be justified by the test of experience. They cannot- be extended 'without Government sanction, which will certainly be withheld if there is uny danger of competition being eliminated."

3[o>,'EY IN THE UNITED STATUS. Money in circulation in the United States on September 1 last was stated in a Treasury return at £1,12"1,2C2,220. Subsequent to August 1 there was an increase of £12,382,948, and the movement for tho twelve months to the date first mentioned was upwards to the amount of .-5164.357.451. The gold currency in use represented £212,511,678; standard silver dollar amounting to £19,896,039, am subsidiary silver £<f4,256,513. The balance comprised notes and certificates.

METAL MANUFACTURES. Metal manufacturers in the United States are reported to bo booked up fully With, orders which are expected to keep them busy for a lonj; time to come. CommcntiiiK on October 3 upon the outlook lor buyers, Messrs. Maillcr ajid Quereux, of New .York, write that elumld the end of the war be near, and were it possible that manufacturers could then turn their \vni-i,-s t" lilliiijr merchants' orders with a creator decree of 'promptness, they do not btli»ve that, "even business on the books could be filled in less than one or two years after tho end of the war has. been announepji." For that reason they uo not anticipate material decline in 'prices, as manufacturers will have all tha bnsincsß they con care for for a long .period ahead. Shipments uiramvlnle U) Außtnvlia and !Nev r Zealand are groatiy reduced, and quantities goiiiK forward are much lees than nocesßary to met rsquire; raents in those countries."