MONETARY AND COMMERCIAL.

Temuka Leader, Issue 2407, 4 October 1892, Page 4

MONETARY AND COMMERCIAL.

London, September 29

Large dealers in colonial stocks and the brokers declare that £4,000,000 of colonial stocks is still undigested. Therefore they must abstain from assisting in floating the South Australian loan. Smaller dealers are more favorably disposed, if the loan is issued at n low price. In financial circles in the city it is considered that if the dividend tax, imposed by Sir Graham Berry in Victoria., applies to the public debt, it virtually closes the English market to colonial loans. The taxing of any dividends is strongly resented, K.ew Zealand 4 per cent, inscribed stock, 10o|-; oh per cent, do, 9o£. New Zealand long-berried wheat, ex warehouse, is firm at o2s Gd.

AVellington frozen mutton, 3|d p«f Jb. New Zealand hemp has further advanced 15s pet ton. Fair to medium quality is quoted at £2!) per ton. Barley, 24s 6d. O.ats, fine quality, 2Gs; commofl, 24s 9d. Beans, 3f>s M,

South Australian wheat, ex warehouse, is firmer at 23s 9d ; Victorian wh€iti, ex warehouse, is also firmer at oos.

At the wowi sales to-day, a very poor selection was ottered. Competition, however, was good, *i«i,d prices rtiuajn unchanged. ( Mr Filzgibbou, Town Clerk of Melbourne, Um formed a finance committee in voufMitton with the Hoating of the Metropolitan liom'd of' ; Works Joan. A consultative unlike ; f >,if>ss;i<>e, which was sent to Melbourne. le«ikt*t£ £\ut and was wired back to Lontfou, whus it appeared in the form that it was pfwpi«&'j to place a £1,000,000 loan on tht* wwfcefc \a> Bjorrow. Mr Fitzgibbon denies timl the awpunt of the loan is fixed, and complains the publication of the message is likely id .damage the issue. Victorian stocks fell j \ig? pent, in consequence of the announcement, September 30. ! The insurance companies are still hostile to the Bill introduced by the New Zealand Government, Even in its modified state they allege that the measure partakes of the nature of a forced loan, and that the Government would always have it in their power to pawn the securities,

October 1. The Chronicle states that a receiver has been appointed for the Proprietary House and Land Corporation, New Bridge Street. The liabilities are set down at £BO,OOO, and it is believed that they are more than covered by the assets. New York, Sept. 29. Owing to congestion in the California fruit districts, sellers are making overtures to Messrs Chaffey Bros, to purchase 3000 acres in the Mildura irrigation district in Victoria. Soma, September 30. Bulgaria is about to float a £4,000,000 loan.