COMMERCIAL.

Tuapeka Times, Volume III, Issue 136, 15 September 1870, Page 6

COMMERCIAL.

The Continental Banks have raised the rate of discout. A large sum has been withdrawn from the Bank of England for the Continent. Oriental Bank shares have declined to 30. Commercial affairs are disorganised. Wool fell 2d, but recovered partially upon decision to close the sales, which was come to on the 25th. Scoured wools were comparatively cheap. Good washed N. Z. and the better sort of the Port Phillip stock gave much less satisfactory results than medium and qualities, notwithstanding the withdrawals. There has been a severe panic in Liverpool. Victorian debentures are at 107, and New South Wales at 97. New Zealand fives, 1891, are at 100 ; and sixes, 1891, March, September, at 112. The exports to New Zealand have increased by L 16,000. Considerable quantities of New Zealand flax, amounting to 2343 bales, were offered on June 29th. There was but little demand, and most was withdrawn, about 550 bales only being sold, at lower prices for common, but dearer prices for good flax. Quotation for common quality, partly cleaned, were Ll2 10s to Ll4 ss ; medium to fair, half cleaned, Ll6 to L2l ; good ditto, L 22 15s to L 24 5s ; good to fine cleaned, L 25 10s to L 29 10s. Tow, LlO to Ll2 ss. New Zealand butter, consigned to Mr. Taller man, has been sold at 84s per cwt. Dr. Featherson has visited the manufacturing districts of Scotland, and is now ascertaining the best uses for flax. He says bright and clean flax would be largely used at £30. The American market would be likely to take a quantity, and one shipload of New Zealand Flax sent to Canada 1 The New Zealand Loan and Mercantile Agency Company announce an interim dividend of 10 per cent.