COMMERCIAL NEWS.

Southland Times, Issue 753, 22 November 1867, Page 2

COMMERCIAL NEWS.

Lonbok, Sept. 26. The money market remains in the same anomalous position as last month. First-class foreign bank paper is done at one per cent., and even lower ; mercantile bills, 1$ to 1^ per cent. A complete dead-lock haß occurred, owing to the abundance of money, and the "want of means of employing it. A violent reaction is expected shortly. The resources of the Banks of England and France are most satisfactory, but the English Funds do not command last month's rates. Consols, 94£ for money. Colonial Government Securities. — New South Wales, fives, 1866, January and July, no quotations ; do., 1871 to 1876, £97 to £99 ; do., 1888 to 1895, £94 to £95; New Zealand sixes, no quotations ; do., fives, £9ii to £95£; Queensland sixes, January and July, £98i to £99a ; South Australian sixes, 1878 and upwards, £106 to £108 ; Victorian sixes, April and October, £112£ to £113* ; Excheques bills are quoted 30s premium. Bank stock is depressed, owing to reduced dividends. Australian Q-overnment securities are firm at the above quotations. The famous Credit Mobilior Company of Paris is now in liquidation, owing to its satellite companies being unable to fulfil their engagements, and having borrowed one million and a half sterling from the Bank of France. The net profits of the Bank of England for the half year have been announced at £629,072 ; the amount of the rest on the 31st of August was £3,657,003. A dividaud was declared of four and a half per cent. Accounts from Canada and the United States are lavorable as regards the grain crops. A revival of mercantile business is expected. The Atlantic Telegraph Company's dividend for the half-year wa3 four per cent. The Bank of Australasia's dividend was equal to £2 10a per share for the half-year. James Hewitt and Co., cotton brokers of Liverpool, have failed ; liabilities £250, 000. The decline in the British Funds it owing to the interpretation put on Count Bismarck's circular by the French Opposition journal*.