COMMERCIAL.

Temuka Leader, Issue 2489, 13 April 1893, Page 4

COMMERCIAL.

MONETARY AN D COMMERCIAL. London, April !,). The feeling in Glasgow among do-_ positors iu the Commo.gial Bank is favourable to reconstruction. The total amount of Glasgow deposits is about £1,000,000, hut there are only four shareholders in the city. The following are the latest quotations of Bank shares: —Bank of Australia, £77 10s ; Bank r of Now South Wales, £01 ; London Chartered Bank, £18; Union Bank, £47. Tallow, medium mutton, 80s Gd ; beef, 28s. The total quantity of wool catalogued up to date is 51,800 bales. There is a brisk demand and prices remain firm. Coutinenial buyers arc especially active. Medium wools are very strong, the English representatives buying freely. Tho Now South Wales consignments are bringing 9sd to Is 7 id, according to class.

Merinos and crossbreds are Jd to Id above last quotations. The English wheat market is firmer, the Continental dull, and the American has an upward tendency. The frost spoiled forty cases of the Aorangi’s apples and worms damaged a. number of others. The exports of the United Kingdom decreased £232,000, and imports £2,700,000, during last month. The Scottish Leader, an Edinburgh paper, considers that the chance of reconstruction of the Commercial Bank is an ingenious plan which will make the shares as good as gold, and has no fear of its success. It asks whether the extension of the reserve covers the depreciation, and prefers to face the loss of half the old capital than imperil the prospects of the new bank. It suggests that the capital should be £4,000,000, £1,000,000 of which to be uncalled, and would like to see the other banks advance a portion of the Commercial deposits. April 10. Shares in the English, Scottish, and Australian Chartered Bank are quoted at £0 10s. In the course of an interview to-day, Mr C. J. Hegan, chairman of the bank, said that there was nothing in the bank’s position to cause alarm, except the recent fall in shares, which was not justified. The bank’s bullion in the colonies was sufficient to meet all demands, and it was not true that the bank had applied to the Bank of England for assistance. Sir John Lubbock, commenting on Mr Ballances’s replies to the New Plymouth bondholders, expresses a hope that the council of foreign bondholders will not be driven to oppose the Stock Exchange quotation of any New Zealand loans which may be placed on the market. Sydney, April 10. The Commercial Bank of Australia re-opened its branches in this colony to-day. Melbourne, April 11. The liquidators’ report on the Metropolitan Bank shows that the total depreciation of the assets since the issue of the last balance-sheet is £398,000. ASHBURTON STOCK MARKET. About 12,000 sheep were yarded at Ashburton yesterday. The entry, as well as the attendance, was small compared with several previous weeks, and there was a further drop in prices, except for sheep of prime quality. Crossbred ewes brough 8s 2d, 8s fid, to 13s and 13s lOd ; lambs, 8s fid, 8s Bd, to 11s 2d, 11s 4d and 11s fid; merino wethers 4s fid to 6s; ewes 2s Bd, 3s Id,to 5s lOd.