AUSTRALIAN FAILURES.

Temuka Leader, Issue 2398, 13 September 1892, Page 4

AUSTRALIAN FAILURES.

Melbourne, Sept. 0. The City of Melbourne Building Society has again suspended. In November last it made arrangements with depositors. Repayments have fallen off, and a trust deposit falling in, which the trustees were unable to renew, the society has closed its doors. Mr Lincoln, a warehouseman in Flinders Lane, has failed with liabilities amounting to £29,000; assets £16,500.

ENGLISH AND FOREIGN MARKETS.

London, September S. Off coast cargoes of New Zealand wheat are quoted from 2Ss to 60s.

The Bank of Australasia lias declared a dividend of per cent., and carried forward £9600 to next year’s account.

Messrs 11. J, Watson and Hons, worsted spinners, of Bradford, have convened a meeting of their creditors.

The Daily News declares that British trade is recovering from the loss sustained on the first introduction of the McKinley tariff.

September 9. New Zealand 4 per cent, inscribed stock, 105 ; dg- ditto, 95. New Zealand long-berried wheat, ex warehouse, G2s Gd, market quiet. Adelaide wheat, ex warehouse, oMs Gd, market also quiet; Victorian ditto, GGs. There are lour cargoes now off coast, but they do not meet with ready sale. Wellington mutton, ojd; Canterbury lamb, Gsd ; New Zealand beef, forequarters, -kl; hindquarters, skl. Frozen beef is very scarce and juices are almost nominal.

Hemp is in small supply, and there is a strong market for the New Zealand article, which has advanced £1 per ton. Fair to medium Wellington, £22 ss. September 10. The prospectus of the Southern Cross Steamship Company, capital £IOO,OOO, is issued. The object, is to work a cargo steamer of 7000 .tons in the Australian trade.

A private assets society have offered to buy out the depositors in the New Oriental Corporation Bank for 10s cash. The House and Land Investment Trust, which lias suspended payment, is connected with the Land and General Bank, which has also suspended, of which Mr Jabez Spencer Balfour is chairman. The Daily Telegraph states that the House and Land Trust's liability is £2,2f)0,000, and that the total liabilities of the suspended companies, including the Liberator Permanent Building and Investment Society and the London and General Bank amount to £7.000.000. These failures are severely felt throughout the United Kingdom. Importers in the city warmly approve of the proposed appointment of an expert to examine and class New Zealand produce. Ottawa, Sept. 8. The Hon. G. E. Foster, Minister of Finance in the Dominion Parliament, states that since the McKinley tariff came into force in the United States, the Canadian exports have increased by £0,000,000.