MONETARY AND COMMERCIAL

Lyttelton Times, Volume LXXV, Issue 9428, 1 June 1891, Page 5

MONETARY AND COMMERCIAL

GERMANY'S COEN DUTIES. ( Special to Press Association.] [ a eceived May 30, at 1,60 p.m. LONDON, Mat 29.

The Financial News considers that the failure o£ the Queensland loan was mainly due to the reluctance of English capitalists to encourage further borrowing by the Australian Colonies,, and it advises the Imperial Parliament to reject the Trustees* Liability Bill, which provides for Trustees investing in Colonial stocks. DUBLIN, Mat 29.

Owing to the prospects of a bad harvest, the Berlin Municipal Council has requested the Government to immediately suspend the duties on cereals, and have them abolished altogether at an early date. The high corn duties in northern Germany have had the effect of forcing bread up to famine prices. [The declared value cf cereals and flour exported by Germany to Great Britain in 1889 was ,£2,445,758. In the previous year the amount was £3,244,459.]

(.Received liicy 31, at 6.50 p.m.3 LONDON, Mat SO, Leading financiers in the city fear that there will he a long continuance of dear money. • The Economist states that if the Colonies wish to depend on the public for floating their loans, the present system of inviting tenders must be abandoned. ,It considers that there is no, reason why the Queensland loan should not have been subscribed if it had been kept open for two months at the fixed price of 92, and provision made for interest to accrue from the date of subscription. The leading bankers have agreed to meet, when occasion arises, and decide with the Bank of England the minimum rate of discount for three months’ bills.

SHIPPING. LONDON, Mat S 9. Arrived—Tekoa, s.s., from Lyttelton (April 1).

" Arab” and " Shah" brand T«MMai <aUgr9cer& and storekeepers.