Commercial Intelligence.

Hawke's Bay Times, Volume 14, Issue 701, 19 July 1869, Page 2

Commercial Intelligence.

Latest English and Foreign Monetary and Commercial We extract as follows from the telegrams of English news published by our contemporary : —■ Lonoon, May 21. Bank discount has been rateed to rer cent., causing great excitement. A. further rise is expec tecl. and has occasioned a temporary panic among weak holders of foreign stocks. Coufilonce * again restored, despite the effect of the Alabama , agitations. Consols are firm at 925. Australian securities are buoyant. There are ni foreign loans of any magnitude h the market. Tuere are several in tho continental markets, among others one for the city of P irU. Numerous failures have occured in the tallow, flax, and corn trade. The Board of Trade returns for the month ot March are satisfactory. New Zealand lives. 1891, 95J ; sixes, 1891. 108$. The wool s iles lor Hay commenced on the 6th. At first prices shewed no material reduction, but competition was weak. Later, the tendency wa« decidecly downwards. Con>iderable quantities were bought in; nevertheless the decline continued in both Australian and Cape, and present rates are from 10 to 14, and in some cases 20 per cent, under the prices of the March series. The sales are very irregular, but the chief fall is in the middle class. Fleeces extra fine Sydney still command attention. Foreign buyers operate ver> cautiously. The total sales were 65,000 bales, of which 38,000 were Victorian, lu.ooo bales were lost in the Blue Jacket aud Omar Pacha. The total arrivals to date are 102,201 bale 3 Viotorian, 41,260 Sydney. Port Phillips wools, middling, may be quoted at B£d, Sydney slightly better. The decline increased towards the close of the sales. In tallow considerable transactions have taken place, but at a further decline. Sales-3184 casks of mutton at 4: / >, 42 casks of beef at 41/tf and 42/; whale oil, 37/ to 40/. June 11. The wool sales are better than last week. 12 00 > bales have been withdrawn from sale, leaving 7,000 only remaing. Wheat is firm, new and old 42 to 43. Bariey 30 to 35. The wool received from New Zealand for the second series May sales 22 000 bales.