ENGLISH COMMERCIAL.

North Otago Times, 22 September 1864, Page 2

ENGLISH COMMERCIAL.

The Bank of England raised the rate of discount from six to seven per cent., -which caused great decline in public securities. The funds fell i per cent ; speculative foreign bonds, i to \ ; home railways, i to 1 per cent. Consols for money, 90£ ; for account Colonial G-overnment Securities. — New South Wales Five per Cent, 186b, January and July, 97 to 99 ; Victorian Sixes, April and October, no quotations; New Zealand, do.; South Australian Sixes, 1878, 106 to 108 ; Queensland do, January and July 103 to 105. New Zealand Five per Cent, debentures were offered for competition on the 11th July. Only a small portion was applied for. The Union Bank of Australia declared a dividend equal to 17i per cent for the year upon the old share The following is from Messrs. Stables, Shaker and Co.'s circular of July 15th :— " New Zealand— A slight increase is apparent in the exports of the past month compared with its predecessor— the respective figures being £175,084 against £171,742. Auckland appropriates £52,120, and Otago £68,472. Since the commencement of the year, the aggregate value amounts to £956,193 against £832,931 in the corresponding period of 1863." London Wool Report.— -The third and most important sale of the year commenced on the 21st July, the arrivals to date' being the enormous and unprecedented quantity of— Australian, 29,812 bales; Port Philip, 50,489 bales; Yan Diemen's Land, 13,179 bales; Adelaide, 12,368 bales; Swan River, 387 bales; New Zealand, 25,152 bales; Cape, 10,633 bales. Total, 142,020 bales. The attendance of buyers, both homo and foreign, wns good, but not so strong m numbers as at the commencement of the May series ; biddings, however, were animated, and prices may be quoted about the average of last sales. The continuance of present rateB depends much upon the progress of harvest and monetary operations. — Home News.