COMMERCIAL.

Daily Telegraph (Napier), Issue 3186, 14 September 1881, Page 2

COMMERCIAL.

UNION INSURANCE COMPANY.

An extraordinary general meeting of the shareholders of this company was held in their offices, Hereford-street, Christchurch, on tho 6th instant. The business was :— To confirm the following resolution passed at the ordinary general meeting hold on July 5 last, and to amend the articles of association by inserting; the words after clause No. 70 :—" Tho directors may, however, declare and pny to the shareholders an interim bulf-vearlr dividend without obtaining the sanction of the company in general meet ; ng as aforesaid, provided that the amount so paid shall in no case exceed the rate of dividend last declared by the company in general meeting." Mr W. Reeves occupied the ohair- There was a fair at*-3ndance of shareholders. The general manager, Mr W. Devenish Meares, read the advertisement convening the meeting. The motion for confirming the resolution was put and agreed to unanimously. This being all the business, the meeting terminated. —Lyttelton Times.

(by cable.) London, September 12. Three per cent consols have declined onequarter, and are quoted to-day at 99. New Zealand securities are unchanged at the following quotations : —Five per cent 10-40 loan, 102|, ex-dividond ; five per cent 1889 loan, 102£ ; four and a half per cent 1879-1904 loan, 99*. The market rate of discount has fallen one-quarter per cent to 3£ ; tho bank rate Is unchanged at 4 per cent. Colonial bread stuffs are without quotable change. Adelaide wheat, ex-warehouse, 86s: Now Zealand, ex-warehouse, 555; Adelaide flour, es-warehou.se, 41.9.

.Australian tnllow remains at last quotations, best beef 38s 6d, and best mutton 40s 6d.

Scotch pig iron has advanced fid per ton, and No. 1, f .o.b. in Clyde, is quoted to-day at 495.