FINANCIAL NEWS.

Waikato Times, Volume XXXVI, Issue 2943, 26 May 1891, Page 2

FINANCIAL NEWS.

BY BI.KCTKIC TELKUIUI'It — COPVKICI IT. ) Londox, May 23. Frequkxt conferences have taken place lately between the directors of the Bank of England and the Joint Stock Banks with respect to strengthening the cash reserve of the Bank of England. Tt is understood that the Banks are prepairing for dangers which are looming ahead in the financial market, hence the desire to have the reserves increased. The Standard says the market will resent the low interest on the Queensland loan, because much of the last issue is still unsold. AYith allowances the loan may be obtainable under 91, which marks the declining credit of the colony. The market would be pleased if it had to be withdrawn for want of subscribers. AVestgarth's Circular states that the presenilis a very inopportune time for attempting to float the Queensland loan, and declares that tlio Australian colonies must put a stop to constant borrowing, as further heavy depreciation in stocks is ccrtain to "take place. The Circular also states that New South Wales is only waiting a favourable chance to place a loan on the English m irket. and that the Government is in need of funds. The circular goes on to say that this is eviient from the fact that they are giving 4 per cent, interest on Saving Banks advances. AVasiiixuto.v, May 2:;. Ten millions sterling in gold has been exported to Em-op" from New York this year. The exportation is now ciasing.