COMMERCIAL.

Lyttelton Times, Volume XXIII, Issue 1363, 21 February 1865, Page 2

COMMERCIAL.

_____ ■ V" The Bank of England returns are again favourable. The rate of discount has been reduced from seven to six per cent. At the Stock Exchange, terms for short loans on English Government securities are five and a half to sis per cent. The Bank of France has reduced its rate of discount from five to four and a half per cent, and the Amsterdam Bank from six and a half to six per cent. Consols, 89£ to 89f for money, 89|- to 891. account. Exchequer Bills, par to 3 premium. Bank stock 238 to 240; Three per Cents, 88b Colonial Government securities: — New South Wales Five per Cents, January and July, 99 to 101; Victoria Six per Cents, April and October, 106 to 107; South Australian Six per Cents, 107 to 109; New Zealand, July, 104< to 105. Woolßeport.—The last sales terminated on the 15th December. Notwithstanding the reduction in the rates of discount, the support given by dealers was unusually small. Had no manufacturers and wealthy firms brought freely, the decline in prices would have been very serious. Good Port Phillip fleece and scoured declined Id. per lb.; inferior and faulty 2d; Good Queensland and Sydney fleece, 2d; inferior and burry, 2d to 3d; Van Diemen's Land, Id; New Zealand washed, l^d; South Australian fleece and scoured, Id to l|d; faulty flocks, Port Phillip, 3d. The attendance from all parts was good.

The Panama and New Zealand Boyal Mail Company has declared a dividend for the half-year of seven per cent, per annum. The New Zealand Banking Corporation's dividend is recommended at the rate of ten per cent, per annum. LATEST SPECIAL TELEGRAMS. London, Jan. 2. Arrived.—Essex. Commercial business is brisker and improving. Credit is fully restored. New York advices to 19th December state that General Sherman is besieging Savannah, but the Confederates have defeated the Federal in several minor engagements. President Lincoln denies having issued an order to General Dix, authorising him to invade the Canadian frontier. The Federals, under General Thomas, have been thoroughly defeated at Nashville, with heavy loss. Five thousand prisoners and thirty guns were captured. Consols for money, 89£; for account, 89f. Bank rate of discount, 6 per cent. Sir Henry Young, late Governor of Tasmania,and formerly Governor of South Australia, arrived in Dunedin by the Hero. He was a passenger to Melbourne by the overland route. The Otago Daily Times, of the 18th inst., gives the following as the impression at home upon New Zealand affairs-.—"Judging by the silence of the English papers upon the affairs of New Zealand at the time of the departure of the niail they did not appear to occupy any prominent place in the public mind of England. The news dissipating the idea of an early termination of hostilities had arrived, and it will be seen by our correspondent's letter that it was anticipated one of the first subjects to which Parliament would give its attention on its meeting in the early part of this month would be the Maori war. It is understood, however, that the British Government have determined to carry hostilities to a successful determination should the Maoris continue to resist; at the same time it is said they are resolved to uphold Sir George Grey's policy against the pressure exerted by the Colonial Government.