ENGLISH COMMERCIAL.

Southland Times, Volume 1, Issue 501, 25 June 1866, Page 2

ENGLISH COMMERCIAL.

(From the Some Ifeics, April 26.) Most classes of Englii and foreign stocks -were better at the opening ol' business this week. A reaction then took place on rumors respecting domestic politics, and the expectation that the Austrian and Prussian business -would n»>t be adjusted -without difficulty. The retrogression in Consols was followed by a similar movement in other quotations ; the last price for money was 82 to i, and for the account 87 £ to \. The demand for money at the Bank was moderate. In the open market great quietude pre railed. The rates were supported at from 5f- to 6 per cent, ■with occassional transactions at of per cent. A full amount of capital was in circulation, the country bankers being better supplied. The joint stock banks have worked at 5?, but they did not employ the whole of their resources. A variety of reports were current with respect to failures. The letters from Liverpool were more encouraging. The state of credit was rather unsettled, but a greater amount of confidence was apparentg The hope is expressed that, with mutual co-opera-tion on all sides, things may be eventually restored to a healthy position. There were various rumors in connection with the late suspension of Barned's Banking Company (Limited), but they proved to be premature. It is not impossible that one or two failures for limited amounts will take place in London or Liverpool, but these will prove nothing more than what might have been anticipated from the relations of an institution that had such extensive business ramifications. It is Btated in the Liverpool advices that the disaster had occasioned no great sensation, and that every endeavor was being made to avert any difficulty in trading circles through this lapse in credit. The report of the Credit Fonder and Mobilier of England has been published, preparatory to the meeting. It is very satisfactory, and shows that the amount to the credit of profit and loss account available for appropriation, is the sum of £281,829. The stoppage of Messrs Kirkpatrick and Balguy, of Great Alie-Street, Goodman's -fields, sugar refiners, has been reported. The debts and liabilities are stated at about £150,000. and the assets it is feared will not reach more than £30,000 to £40,000. The prospectus has been issued of the Australian Tontine Society. The property is at Hexham, New South Wales. The duration of t'-e society is fixed for seven years, from the Ist of July, 1866, and the distribution is to take place on the Ist of July, 1873, The capital is £40,000, in 400 shares af £100 each j the deposit on application is £10, with £40 to be paid on allotment and £50 on the 15th of June. The whole of the preliminary expenses are to be defrayed by the vendor, who also provides foy three yeare the expenses of management as well as interest at tho rate of 5 per cent. to shareholders, with surviving nominees. The •itates comprise nearly 4000 acres, situated on the River Hunter, near the port of Newcastle, New goutfa Walee, and about 70 miles north of Sydney, &Od are capable of great development, They are Wspeotiveiy paM WOCdlajidj-n&rk. and Wqh.

The Money Market Review says : — When the shareholders in the now defunct Joint-stock Discount Company reflect upon their losses and feel disposed to bewail their hard fortune, it may be well for them also to reflect upon the enormous losses in which their fate has involved the shareholders of other joint-stock companies. There can be no doubt that the present depreciation in the price of the shares of the various financial and many other associations has arisea entirely from the exposure which has been made of the gross mismanagement of the JointStock Discount Company. The Directors of the Australian Mortgage, Land, and Finance Company (limited) have circulated their report preparatory to the usual meeting. They intimate that the anticipations expressed by them in their report issued subsequent to the extraordinary general meeting in January last are more than equalled by the results of the operations for the entire year 1865, as now exhibited in the accounts. The investments in the colonies of Victoria, New South Wales, South Australia, and Queensland, had reached, on 31st December last, the date to which the accounts extend, £109,589 : excluding the collateral advantages which the employment of this sum produces on° the company, the interest thereon in itself stating a revenue which places the company in a position of substantial strength.