MONEY MARKET AND CITY INTELLIGENCE.

Lyttelton Times, Volume XIX, Issue 1085, 4 April 1863, Page 3

MONEY MARKET AND CITY INTELLIGENCE.

The money market opened quiet with the new year at 3 per cent., and remained so till the 15th January, when the bank raised the rate from 3 to 4 per cent, in consequence of the considerable purchases of bullion made by the Bank of France. Consols have receded, and closed at 92£ The share list of the New Zealand Trust and Loan Company was closed on the 31st Januaiy.

The Bank of Australasia has resolved to raise further capital, and open branches in New Zealand.

The shares of the Bank of New Zealand have been sold at 4 prem., and are now quoted at 3 to 5.

The revenue returns for past year show a net increase of £2,000,000. The revenue for the financial year will not realise Mr. Gladstone's estimate. Colonial Government bonds firm; Victorian Six per Cents., April and October, 110 to 110£; New South Wales Five per Cents., 1866, 100 to 101; Queensland Six per Cents., 109 to 111. A dividend of 8 per cent, for the half-year on the declared capital of the Union Bank of Australasia was declared, free of income tax.

Thirty bales of Queensland cotton, ex Centurion, from Sydney, realised at auction 2s 6£d per pound.

LONDON WOOL REPORT.—JAN. 24,

Since our last report the transactions in our market have been of the most limited character; holders are free sellers at last sale rates to a shade profit. There being a general desire to sell, buyers hold aloof, except for such descriptions to meet present and actual requirements.

The stock of second-hand wools held amount to fully 10,000 bales; and although speculators who bought at the top of the market are willing to submit to a loss in many instances of 2d per lb, it is difficult even at this reduction to make sales.

It is generally expected that at the ensuing Feb-ruary-March sales fully 65,000 bales will be catalogued, of which quantity fully 25,000 bales are expected to be of New Port Phillip wool; hence in combing descriptions a declension in price is looked for of Id to 2d per lb. Sydney wools will no doubt sell well, in consequence of the short import expected in time for February.