COMMERCIAL.

Ashburton Guardian, Volume XIV, Issue 2970, 11 May 1893, Page 2

COMMERCIAL.

[pee pbjsss association.]

Sydney, May 10 \ Wheat, chick 2s lOd to 3s, milling 3s 6d. Oats, bent brisrht feeding 2a s|d. seed 2s 7d to 2s 9\. Barley, Cape 23 lid to 3s. Maize 3s 9d. Bran B£d. Pollard B|d. Peis 4s 3d to 4s 6d. Potatoes, New Zealand £3 ss. Onions £4 15s. Butter, dairy 6d to 7d, factory 8d to 9d. Cheese, prime qualiiy 4|d, Bacon, local 6d to 7d. Hams, local lid to Is. Melbourne, May 10. | Wheat, prime milling 3a l£d Flour, stone £6 12s 6d, roller £7 to £7 ss. Oats. Algerian, Is BJd to Is lid, stout Is 9d to Is ll^d. Barley, Cape 2s 3d, malting 4s 7d. Br*n B|d to 9d. Pollard 9fd to lOd. Maze 3s Bd. New Zealand hemp £17 to £19 nominally. Potatoes £2 10s to £2 15s 6d. The butter market has a downward tendency owing to heavy supplies, the latest quotation is 10£ d. Cheese, New Zealand 6d. Adelaide, May 10. Wheat 3s Id to 3s 2d. Oals 3s to 3s 2d, duty paid. Bran 9d to 10<3. Pollard lid. Flour £8 to £8 23 6d.

The New Zealand Loan and Mercantile Agency Company, Limited have received the following cable message, dated London, May 9 :— Wheat—The market is quiet; quotations nominal. New Zetland wheat longberried, is worth 31e per 4961b5; do, average, 28s 6d per 4961bs ; do, f.a.q., is worth, c.i.f., off coast, 27s 9d per 4801bs. The Canterbury Frozen Meat and Dairy Produce Export Company, Limited, has received cabl« advice from London quoting its brand of mutton at 4jd perlb; lamb, 5f d per Ib.

London, May 9. *' The Times " cays that; two millions of Scotch deposits in banks which have suspended recently are due on May 15, and ii is very probable that a large proportion of them will be withdrawn. The banks are preparing to meet the contingency. The prospect of the suspended banks reconstructing on the lines published is less bright. The insurance question is raising an important difficulty. The Bank of Victoria is petitioning the I Courb to protect its assets. Mr Hugh L. T»ylor,' Chairman of the London Board of Directors, and Mr Fairclough, another of the directors, expressed amazement at the suspension, as the bank was perfectly solvent and quite prepared to pay all deposits maturing in May. The editor of the " Fortnightly Review " invited the Agents-General of the colonies to write an article on the stability of Australian securities, but they declined, explaining that the time was inopportune. At the meeting of depositors in the Standard Bank there were only! twent- | live present. Several objected to take preference shares, and the directors then proposed to adjourn. It waa stated that early in the year a circular was issued to the depositors whose deposits would fall due in April, May and June, asking them to agree to renewal, but the request met with very unfavorable response. The Melbourne Board promised assistance, but the panic in Victoria followed |and compelled the suspension. The Scotch depositors rejected the reconstruction scheme and appointed a committee to watch the progress of avents in connection with the institution. They consider the scheme injust and one-sided-Sydney, May 10. The suspension of the Bank of Victoria caused no stir here, and the banking business appears to have resumed its normal course. Melbourne, May 10. The suspension of the Bank of Victoria has caused a disturbed feeling, especially in the country districts, in some of which fchoro is no other bank available. The re*, construction scheme leaves it optional with depositors to accept shares. It is estimated that the suspension of the six large banks has locked up £40,100,000, of which £19,600,000 is in Victoria, £11,600,000 in England, and the rest in the other colonies.