COMMERCIAL.

Daily Southern Cross, Volume XXIV, Issue 3483, 14 September 1868, Page 6

COMMERCIAL.

The money market fluctuated during the month. The bank rate of discount is 2 per cent, in the open market — the demandalittlestronger; outside rates are 1| to 2. Consols. 94£ to f . Australian securities are again in demand. Victorian 6 per cents., January and July, 112 to 114 ; ditto, April and October, 113 to 114 ; New South Wales fives, 1871 to 1873, January and July, 99 to 101 ; ditto fives, 1888 to 1889, January and July, 99 to 100 ; New Zealand fires, 1891 to 1898, 100; ditto sixes, 1891, March and September, 111 to 113 ; Queensland sixes, January and July, 106 to 107; ditto 1891, 106 to 107 ; South Australian Government securities, short date, 108 to 111 ; ditto, long date, 110 to 112 ; Hobson's Bay Railway, 48 to 50 ; ditto bonds, 1880, 97. The Board of Trade returns for the month of May show a falling off of one million and a quarter in the exports, as compared with the corresponding month of the last two years, owing to the diminution in the cotton shipments. The revenue returns for the quarter ending June show an increase as compared with the corresponding period of last year, owing to the augmented income tax. The annual meeting of shareholders in the Union Bank of Australia was held on July 13. A dividend at the rate of 15 per cent, per annum was declared. Peto and Co. passed a final examination in the Bankruptcy Court, without opposition, and

received their discharge. There is nothing available for creditors after payments of the oosts of proceedings. A concession for the establishment of an electric telegraphic line between Franoe and ' the United States is granted by the French Government to Renter and Baron Emile Derlanger. The line will run from Brest to near Boston, and it is expected will be laid next year. The concession ig for twenty years, with a maximum tariff authorised of £4 for twenty words. t Hide s : The market is steady ; quotations have hardly undergone any change. Australian are in good demand, light realising an advance of id. Tallow : P.Y.C. is quiet at 43a to 43s 6d ; 672 casks .Australian just sold, sheep, fine, 43s 9d to 445; dark, rather greasy to very good, 4i s 6d to 43s 6d; dark weak, 41s; rnixej melting, good, 425 : rather dark weak noddling to coloured greasy, 40s 9d to »l s 6d. Oils : Cocoanut, Sydney, very good, £49 15 s ; middling, £48 to £49 55,. The following are the exports to the colonies according to Stables's Circular:— Victoria, for month. £425,917 ; decrease, £30,928. Sydney, £223,515 ; decrease, £2,468. WOOL REPORT. As was to be expected, after the absorption of so large a quantity as that which recently passed the hammer, there is no inquiry for colonial wool in the London market since the close of the May and June series of sales. Prices were well maintained. Having regard to the short period that will elapse before the commencement of the August sales it can scarcely be expected that any demand will spring up in the interval. Importations already amount to 158,635 bales ; the estimated quantity will increase some 50,000 to 60,000 bales.