ENGLISH COMMERCIAL.

Southland Times, Volume I, Issue 83, 16 December 1864, Page 2

ENGLISH COMMERCIAL.

Owing to late heavy failures, there is stringency in the money market; and a heavy fall m prices. Credits are resfricted. Many firms in a sound position, but with limited means, sell shares on produce at fearful discount, because of their inability to obtain the usual bank accommodation. ' The money market is still influenced hy doubts as to the condition of. mercantile credit. Consols for money, 89g- and. 89£ for account, November 10. Bank discounts, 8£ to 9 per cent. Discount —Paris 7£, Vienna and ,St. Petersburg!^ 6, Turin, S£, Amsterdam 7 per cent. ; the English market being the highest of all. The following. is the list of failures during the month : — Messrs. Paul, JosLe," and Co., Austrian merchants, liabilities^ £40,000 ; Bi-own, Buckley, and Co., produce merchants, £16,000 ; Early and Smith,- clothiers, £80,000 ; Hall and Jones, sugarbrokers, Liverpool. £500,000 ; A Tenke and Co,, woollen merchants, Leeds, £100,000 ; Julius MeDdel and Co., West India merchants, £40,000 ; Walker, Cottsworth, and Powell, of Liverpool, £50,000; Jobn G-ladstono and Co., London. £200,000 ;|Edward Coombe, Mincing-lane, £10,000 ; B. Gazard, Moorgate-street. £200,000; Eudge, Morrison, JJrqthera, and Co., Brazilian merchants, £100,000 ; Crosby and Co., £188,000 • Manning and Colliev, hempbrokei-s, £100,000 ; A Ledgard, woollen warehouseman, £25,000 ; William Paterson, shipbuilder, Bristol. £40, 000 ; Bullock and Fcrnyour, brokers in colonial t.rade, £33,000 ; Bender and Co., Mark-lano, £20,000 ; Louis Speltz, cotton dealer, £320,000 ; W. N- Demetos, export, coal trado, £525,000 ; thvco Ix>ndon Greek i houses, liabiliticß £GO S 000 ; Maund and Brillmau, I watch manuffteturorß, £100,OOQ ; 'Aaron Solomons, j £40,000; Wcstill Brothers,' £100,000; and numordiis others in lessor degree. i , Several failures in Vienna and America, owing

to fluctuations in gold, A changft tot thi} fotto f has token place. BHitare commercial proipftctft are looked upon as satisfactory. . Thero has been a serious commercial crisis ill : Brazil. Four of the principal banks have iu»V pended payment. The liabilities are eleven mil- . s lions sterling.' The loss will fall principally on -'. comparatively poor people. The assets are likely - to yield 50 per cent. The Government have *e« solved that the suspension of bank payments dur» injr a term of sixty days from the 6th September should be decreed to prevent a continual run on, the banks. Colonial Government Securities, . New South Wales, Five Per Cents., -1866, Jaiwary.and ,July I%j , 97 to 99 j do., 1871 to 1876, 95 to 97 ;. Victorian Six Per Cents., April and Octoben, £104 fto £105£; South Australian Six Per Cents., 1878, £105 to £107 s Queensland Six Per Cent., Janu-j , - - ary and July, £100 to £102; " New Zealand Six Per Cent., £102 to £104. - - The total liabilities of Leeds Bankiig Company is stated afc £1,330,000, and ths assets ati3326,000V; ' _______ --£ i ~ - .•'