COMMERCIAL.

Southland Times, Issue 725, 18 September 1867, Page 2

COMMERCIAL.

London, July 26. The Bank of England rate of discount is two per cent. In the open market, best bills are done at 1-g- per cent, to 2 per cent. In all quarters there is abundance of unemployed capital. Money has i not been so cheap in London since 1862. Consols, 94 to 94£ for money ; 94i to 94i for account. There is little business doing in the railway share market. American securities are steady. The joint stock banks have reduced the deposit rate to one per cent. Colonial Government securities. — New South Wales 5 per cents., 1871 to 1876, £94 to £96 ; do., 1888 to 1895, £89 10s to £90 10s ; Victorian sixes, April and October, £110 to £111 ; South Australian sixes, 1878 upwards, £105 to £107 ; Queensland do., January and July, £93 10s to £94 10s ; New Zealand d 0., "£104 to £106 ; do. fives, £91 to £93. Bank stock has advanced. India stock has also advanced in proportion. The rise in the corn market of 4s per quarter causes much speculation. The increase of the revenue for the quarter ending 30th June is £318,261. A new telegraphic route between England and India, via Prussia and Russia, is contemplated. Tenders for the Tasmanian Six per Cent. Loan were called for, but only £1,000 was allotted. All the creditors of the Bank of Queensland will be paid in full, and the bank will probably be re-established. The Panama Steam Company's report is favorable. The English, Scottish, and Australian Bank's dividend is 7 per cent, per annum. The Union Bank of, Australia's dividend is 17 per cent.