ENGLISH.

Otago Daily Times, Issue 317, 25 December 1862, Page 4

ENGLISH.

(From the Home News) MONEY MARKET AND CIIY INTELLIGENCE. Oity, Saturday, October 25. The sfock markets have been strengthened by the announcement that the weekly court at the i-ank of Kugland had made no alteiation in the rate of discount. There was no sisrn of auimatiou, but prices generaliy-T7cre firmer.'Ttie funds have risen oneeighth per cent, tided, by the rise on the Paris Bourse. The principal feature in the Stock Ex9^""?^ was an■'•■advance in the Anglo-Turkish Loans ?^&>B and 1862. The price of the latter, of sourse,lncludes the proportion of acrued dividend due in Jluiuary. la thac month there will also be a drawing of the bonds of 1362 ftp- redemption at 100, whilein"the: caseof-the- loan of- 1808 the- drawing takes place about, a month sooner—namely, in December. Ihe anticipation of these events seems to have contributed to the purchases which have been in progress for account of the public during the last lew days. The market is scantily supplied with these stocks. On the other hand, the Internal stock of Turkey has been lifeless. English railway stocks are steady, while American continue to fall, owing to sales by English holders. The demand for bank shares continues, ard half a dozen new banks are accordingly in course of formation. The i_ discount market was slightlyeasier, in consequence'of the absence of any alteration at the Bank of England, but as the prospect of continued with drawals of gold rer ders it probable that an advance in the minimum to 2| per cent., will jet take place the rate for choice bills in the general market remains at 1J to 2 per cent. At the Bank of England discount office the. day's business wa3 of limited amount. The amount of business in Bank shares has been extensive. The tendency of prices in the majority o •instances was still upwards. Agra Bank, Bank of London, London Joint Stock Bank, Union Bank of London, London Chartered Bank of Australia and' Provincial Bank of Ireland, were all better. Bank of Hindostan, Imperial. Bank, and Metropolitan and Provincial Bank, on the other hand, were rather ;dull. In miscellaneous shares the only change was an improvement in Van Diemen's Land. : _The Aloe, with LBI.OOO iv Australian gold, has now.been.at"sea 98 days • the Roxburgh Castle, with , L 254,500, 87 days ; tiie Moravian, with L 197 009 73 days ; atid the Wellesley, with L 136,500, 03 days' : The total is L669,C00. The Oriental Bank have received £500,000 bonds, expiring 1892, part of about L 1,780,000 authorised by the Government of evV South Wales. Permission has been given for their quotation in the official list of the Stock Exchange, but the committee have intimated an opinion that, instead of these bond* being issued privstely as heretofore, they should be regularly advertised and offered to the pubiic. The Board of Trade returns for the month of August have been issued, and again present results which confirm the anticipation so often expressed that owing to the universal character of British trade, it would be found that even the cotton crisis could only for a short period seriously^ affect its totals, any disturbance or stagnation in one branch being soon made up by the exercise of our skill and energy in new directions. The declared value of ihe exportatiois of British and Irish produce for the month ending the 31st of August was L 12,829,627, against Ll2 337,441 in the corresponding month of last year, showing an increase of L 492.186, or exactly 4 per cent. Contrasted with the unprecedented. %vies of 1861, it reaches them within about bb 2 per cent. It is to the increased activity of the woollen and linen trades that. this satisfactory state of affairs is mainly due, our cotton exportation showing a falliug-otf of L6B6\7b'l. notwithstanding the extent to which their amount has been raised hy the advance of prices since' August of last year. The item of arms and ammunition continues to increase in importance with the duration of the American war, and lias now assumed large proportions, the amount for the. month being L28t),110, against L 77,763 in August, 18(51.. , _ The total value of. our exportation during the first ei*ht months of the present year has been almost exactly equal to the total for the like period of 1801 . the figures being L82,27d,107 a?ainst L8^575.12G 00-r'pared with the corresponding eighr. months of ...1860, there has bejn a falling oill o£ Lb 801,785 or only C^ per'ceiit. :~ As regards imported articles, the main feature has. consisted in the extraordinary arrivals of wheat and flour, the total having beeu equal to 1 230,0U0 quarters, against 7ii1,377 quarters in the corresponding month of lavfc year, although the amount was then; remarkable for its magnitude. Of this quantity about 42 per cent was from the United States, about IS per cent from Germany, 11 per cent from llussia, 10 per cent Jrom Canada, and 5 per cent from -fegyp't. A prospectus has been issued of the Universal Club and Permanent Exposition Company, with a capital of LIOO.OOO in shares of L 5 each. . The proposal is to establish a permanent mart in London for the exhibition of samples, patterns, and models, and to secure -tor:the purpose certain premises in Cannon-street which are considered to be peculiarly eligible. Exhibitors paying an annual rent for space are.to be afforded also many of the u-ual services of a club and an advantage in terms is to be given according to priority of application. The first 1000 subscribers are to p-^y L"io per annum, the second L 25, and ali others LBO. Jxtensive promises of support are static to have been received from French and other manufacturers. The locality of Tannon-street, as a great centre of the railway traffic to the city, seems the best that could be selected for such an under lakine. It appears that the firm of Mcsrs Lindheim and Co. of Vienna, whose failure has been announced, earned on the business of bankers as well as that of ironmasters. The amount of their liabilities 3m not yet been definitely stated, but it is feared it may be at least L&J0,000or 1.400 000. Some portion of the loss will fall on this country. According to some accounts, the liabilities of the failed firm of .Messrs Faria and Brother, of Mo de Janeiro, will be considerably in excess of the sum stated - L 300,000. Many families in Portugal are likely to suffer by this stoppage, ax t.he house w.is to a great extent the medium through which the Portuguese in Ivio have been accustomed to make remittances to. their friends and relatives at home. The advices from Vienna describe considerable monetary pressure, accompanied by many failures of* manufacturing firms, among whom are Messrs Senacheri Brothers, V. Lowy, M. Simon, < and Day. Epstein (widow), all of Vienna, and M. Thoma, at" •Ofen, the latter with liabilities'-for L20;000. At Pesth likewise there had been similar disasters, including M. fcohm, M. Kanya, and M. Ebel, with liabilities for L 17,50- Under these cuv.uiustauces the bank will not discount freely, and parties in want of money are obliged to sell foreign bills'—a circumstance which accounts'for the fall in the f >reign exchanges, and the corresponding increase of value of the Vienna currency. -' ■: ■ . The suspension has been announced of Messrs Tod<?, Naylor and Co, an old and respectable mercantile firm at Liverpool, largely connected with ' South America. A prospectus has Been issued of the Standard Bank of South Africa, with a capital of LI ,000,000, in 10,000 shares of LIOO each, oi which 5,00J are in the first instance to be put forth.' The undertaking is to be in connection with the Alliance Bank of London and Liverpool. .! ! „ It is. stated, with reference to the Indian tslegraph question, that the authorities at the India-office have decided upon taking immediate steps for completing the land line of telegraph now in existence as far'as Bagdad,.on to the, head of the Persian Gulf, and to lay a submarine cable thence to Gwadely on the coast of Beloochistan, from which point a land line is being constructed to join the Indian system of teleg aphs at Kuirai'hee. Colonel Stewart, it. E., dire <ts the work generally, and Sir Charles Bright and Mr Latimer Ciark are the engineers. LATEST DATES. England ~...„... Oct. 27 By telegraph ....;...., Nov. 7 Mauritius.. Oct 28 Ceylon (Colombo) Oct. 22 - China (Hong Kong) Sept. 29 ' ' Calcutta Oct. 9 Singapore Oct. 9 Cape of Good Hope Oct. 6 America— New York (by telegraph).... Oct. 5 . San Francisco ~.. Oct, 6 Hkw Zealand— Auckland Bee. * 6 Turanaki Nov. 23 .Nejson ". Dec. 17 Picton jfoov. 27 Wellington Bee 10 Marlborouph ;.., Nov.' 23 Hawke's Bay ...0.......... No\,:10 < 'aiiterlmry Dec. S3 Wariganui Hoy, 2o luverrartrill ~..,.... 8ei.19 , AtjsTMAhtAK Colonies— Melbourne Doc. 13 . . ~Sydney.,, Dec. 9- i QuuensJand*.... Dec. 1 Adelaide Bee. 12 Laun'cston ~...,,......... Dec. 35 > Hobart Town Dec. lo Pert Nov. U

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