AUCKLAND. Daily Southern Cross office, Friday Evening.

Daily Southern Cross, Volume XXII, Issue 2810, 28 July 1866, Page 4

A UCKLAND. Daily Southern Cross office, Friday Evening.

The Customs receipts to-day amounted to £453 18s. By the arrival of the ' Monarch' and other vessels, many articles are more plentiful iv our market than for some time past. Sperm candles, which in our last monthly list were quoted at Is. Bd. to Is. 9d., may now be had for Is. Gil. per lb ; English bacon, which was scarce at Is. 6d. to Is. 9J. , is now in the market at Is. 4d. per lb. Of all kinds of ale and beer, the stocks are very heavy. Pale brandy is somewhat lower iv price ; MartelL's and Hennessey's may be quoted at 295. to 305., instead of 31s. to 325. per dozen, our lust quotation. There are modeiate stocks of timber at 10s. per 100 ; tongued and grooved, 13s. The supply of, gum has rather fallen off, especially from Waikato, there being now less competition among buyers than existed a short time ago. Ihere have been considerable arrivals of maize, and prices may be quoted at between ss. Cd. and 63.6 3 . per bushel. Coal, which a week ago was very scarce, is now iv gooJ, Biippty, The following telegram appeared in the Nelson Examiner, under date, Christchurch, July 20 :—: — "A telegram from Dunedin states that a great run has^taken place to-day on the Bank of Otago ; also, , that a great run has taken place on the " Bank of New Zealand, and on the Union Bank of Australia, but not so great. All claims were promptly met. There is intense excitement in Dunedin." In another part of the same paper, there are editorial remarks, consequent on the stoppage of the Commercial Bank ot Dunedin (the New Zealand Bank Corporation of Lundon), in which that institution and the Bank of Otago are classed as " local banks." 'I his is a mistake. The Bank of Otago and the Bank of Dunedin were London companies, and never had any local capital, or next to none, invested in them. The " run" on the Bank of New Zealand consisted of payment of one thousand sovereigns across the counter. Three days' later news states that the " excitement" had ceased. As a set-off to all this folly, we may quote the closing prices in London on the Ist of June : — Bank of Otago, 4 discount ; Bank of Queensland, 13 discount ; Bank of New Zealand, 8 premium ; Australasia (business done), '684 > South Wales, 44 ; Union (business done), 48 — 74- Of the banks, the Union, JS'ew South Wales, and Australasian have all the capital paid up, and possess large reserves. The Union shares were £25 ; Kew fc-outh Wales, £20 ; Australasian, £40 ; Bank of Otago, £20 ; and Bank of New Zealand, £10. The Bank of Queensland capital was raised in shares of £100, of which £25 per share has been paid up. The Bank of Otago has £10 per share paid up ; and the Bank of New Zealand, whose stock stands at £10 per share, with £7 paid up, is so highly thought of that its stocks are quoted at 8 premium. This speaks volumes for the stability of our "local" bank. The Standard, June 2nd, has the following : — The markets for stocks and shares have been heavy and dull, with restricted transactions. Now the accounts have been concluded there is a pause, and it is believed that the late rally will be followed by a little reaciion. The intelligence with regard to the war is not viewed favourably, and this, together with the weak position of the Bank of England, and the fall of the Paris Bourse, has exercised an adverse effect. Confidence among the banking and trading community is steadily reviving ; and, if money, through the influx of bullion, should become cheaper, the result would be a further recovery. The last quotations from France were_ exceedingly flat, and the speculators of course at once renewed sales. Consols for money and the 6th of June were last quoted 85f to g, and for the account, July, 86| to h The demand at the bank for money was fair, but there was not the slightest pressure. In the open market the tendency was to a more favourable supply, though still the bankers and brokers enforce high rates. The official minimum of 10 per cent, is about the average. Long-dated bills may be considered fractionably lower. The country bankers for the moment possess large reserves, and it is thought they will not immediately part with them. The joint-stock banks are working with 'a little more freedom, but they do not make any advances below 10 per cent. About £208, OliO gold was sent into the bank from America, and 10,000 sovereigns .were received from abroad. There was. no phange of consequence in the silver market, but quotations were about the same as yesterday. On the Stock Exchange there was a plethora of money, and the rate all day was about 7 per cent. J The 'China,' steamer, from New York, has arrived with £500,000, the greater part of which will go into the bank. 'ihtNew York steamer, from the same place, has brought £40,000. The latest rate of exchange, and the price of gold show a considerable advance. The quotations for securities had generally declined. The intelligence of the JEailure of Overend, Gurney, and Co. (limited) had arrived, out, and had produced, as migKt have been supposed, an unfavourable effect.