COMMERCIAL.
The discount market has varied several times during the month. The Bank minimum remains 2| per cent The rate advanced in open market, being affected by speculators in gold sending large quantities to New York to take a shaie in market operations there. Several New York operators failed, and the bubble burst, leaving many Lombard-street speculators losers to a large amount. The panic has been allayed, and gold has been flowing in towards the Bank of England It is expected that at least half-a-million has been returned from America The market is again easy.
LONDON WOOL REPORT. The third series of sales closed on the 2nd September, the total quantity sold being 193,982 bales; about 800 were withdrawn. An advance took place at the end of the sales on Port Phillip and New Zealand fleece of Id to ljd; greasy, Jd to Id; Sydney, Id to l|-d; long stapled grease is in increased demand at an advance of 1 Jd. The quantity taken for export is 7500 bales. Great competition occurred for really fine wools for the Continent. The quantity held over for next sales amounts to about 30,000 bales, chiefly !New
Zealand, It is Expected that 90,000 bales will arrive in time for the next series.
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Hawke's Bay Times, Volume 14, Issue 741, 6 December 1869, Page 2 (Supplement)
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208COMMERCIAL. Hawke's Bay Times, Volume 14, Issue 741, 6 December 1869, Page 2 (Supplement)
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