COMMERCIAL NEWS.

Southland Times, Issue 870, 23 December 1867, Page 2

COMMERCIAL NEWS.

London, Oct. 29. The discount market has assumed a settled appearance, and is firmer in tone. There is no expectation of a reduction below the existing minimum rate of two per cent. The supplies are large, and only the very best bills are taken at from threeeighths to one-half percent. The stock of gold at the Bank is still large, and almost beyond precedent. Several panics have taken place on the Stock Exchange and on the Paris Bourse, but they are now over. Consols fell to 93£, but now stand at 94£ to 94i- for money and account. Keduced Three per Cents, now stand at 92f to 92h The advance in Australian securities has not been maintained in some instances. New South "Wales Government five per cents., 1871 to 1876, January and July, 97 to 99 ; do. five per cents., 1888 to 1895, January and July, 93£ to 94£. New Zealand five per cents., 94 to 95 ; do. six per cents., 1891, March and September, 105 to 106. Queensland six per cents., January and July, 99£ to 100| ; 1891, 99£ to 100^ South Australian Government, 106 to 108. Victorian Government six per cents., January and July, 110? to llli; do., April and October, 108£ to 109£. Other Australian securities are lower. The Koyal Bank of Liverpool has suspended payment, with liabilities amounting to £1,650,000. " Commercial Bank of Canada has suspended. Several heavy failures have taken place, but none that affect Australia. The Oriental Bank has declared a dividend of 12 per cent.