LATEST CITY INTELLIGENCE.
The fluctuations since last mail in the Money Market have been rapid and severe. At the date of our last the Bank rate was 7 per cent. ; from this point there was a sudden movement on May 2 to 8 per cent., rapidly followed on the sth by a further rise to 9 per cent. At this time serious apprehensions were entertained of a monetary and Stock Exchange panic, but it was soon found that general credit was sound, and confidence quickly returned. The discount market became much easier, and on the 19th the directors reducee their minimum to 8 per cent. At the' close thd market is quiet, with only a moderate demand at 7 to 1\ per cent. The official report of business on the Stock Exchange is as follows : — Consols, 91$, f ; for the account, 60f to \ex dividend. Bank Stock left off at 237 to 239 ; Beduced and New Three per Cents., 89£ to \ ; India Stock, 217 to 219 ; India Five per Cents., 105£ to £ ; Bupee Paper, 103 to to 105 and 113 to 115 ; India Bonds, 245. to 15s. dis. ; Exchequer-bills (March) 13t, to Bs. dis., and ditto (June) 7s. to 3s. dis. The report of the directors of the Panama, New Zealand, and Australian Boyal Mail Company (Limited), congratulates the proprietors on the progress made during the past year. A halfyearly dividend on the old shares at the rate of 7 per cent.' per annum, free of income-tax, is recommended. A general meeting of the shareholders of the London Chartered Bank of Australia is convened for the 10th of Junel The fourth and final call of £10 is to be paid on the 10,000 new shares of the Union Bank.of Australia by the 15th of June. At the meeting of the New Zealand Banking Corporation the resolutions passed on the 2nd of May were unanimously confirmed. r-* -
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Southland Times, Volume I, Issue 23, 23 July 1864, Page 2
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316LATEST CITY INTELLIGENCE. Southland Times, Volume I, Issue 23, 23 July 1864, Page 2
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