COMMERCIAL NEWS.

Hawke's Bay Times, Volume III, Issue 133, 31 July 1863, Page 2

COMMERCIAL NEWS.

LONDON WOOL REPORT.— Mat 25, 1863. The sales, which commenced on the 30th of April, opened with a fair average attendance of buyers, and prices for the first few evenings were on the average Id. to Hd. lower than the rates current in March; the extensive purchases for foreign account, amounting to fully one-half of all offered to date has caused a firmer tone, and rates are now on the average nearly equal to last sales.

Had it not been for the large and spirited purchases for export our market would have suffered a serious decline, for the Leeds, Huddersfield, and Bradford dealers are in poor spirit, and their operations have been of the most unimportant character—the general trade in the North not being satisfactory and the old stock of wool still held in the north being very large. No doubt sales will close at prices fully equal to those ranging; but, if in July a better feeling does not exist amongst the home trade, lower rates may have to be submitted to.

New Bank for New Zealand. —The Home News mentions, in the list of new banking companies. that the New Zealand Banking Corporation (limited) has been formed, capital £600,000, in 6,000 shares of £IOO each. The first issue consists of 3000 shares. The second issue is to be chiefly reserved for the colonies. The chief offices are to be in London, with branches at Auckland, Wellington, and Nelson, and with agencies at such other places in New Zealand as may be deemed desirable.