COMMERCIAL.

Evening Star, Issue 4898, 12 November 1878, Page 3

COMMERCIAL.

The amount of revenue received at the Customhouse on poods cleared this day for consumption woo L 1,427 7»5d. Our Sydney correspondent telegraphed to-day that large shipments of salt, sugar, currants, and sardines have arrived there. [By TeiiKoraph.] Oamaru, November 12.—The privileges in connectlen with the show were sold to-day, and realized L 574. London, November 9.—-The money market is easy, and the Bank minimum is unchanged. Discount rates arc considerably below the Bank minimum. The B.vnk reserve is slightly better than last week. The stock markets have recovered a firm tone, and Australian securities are resuming their usual activity. Consols, 955. Wheat is firmer. The failure of Rooert Forrester, coal mister, of Glasgow, is announced. The liabilities are heavy. Knlghtstarm, of London, in the chemical trade, has failed for LIOO.OOO. THE CITY OF GLASGOW BANK. A London telegram to the "Times of India' gives the following important particulars regarding the failure of the City of Glasgow Bank :—" London, 4th October. In connection with the suspension of the City of Glasgow Bank, the city article in to-day's ' Times' says that Smith. Fleming, and Co. are liable for cash advances amounting to L85;$,000, and for acceptances to the value of L 900.000 sterling. Another firm owes the bank L770.0U0 for advances aud L 1,600,000 for acceptances. A third figures in the list for L 1,200,000 for cash aud acceptances. A fourth exhibits a debt of L 500.000 sterling, making a total or L5,52i1,000 lout by the bank directly or indirectly to four firms, tho reputation of one or two of which Ims been anything but good for snino years back. The advances granted to these foui firms, coupled, with tho negligent system of geueral mismanagement, is the direct cause of tho suspension, and is hardly short of criminal. It is ■>w • itimatcd that the bank will show a deficit of L3,000,00U, which to the knowledge of tho directors and managers have been accumulating from year to year. Yet tho dividends had been steadily increased.