MONETARY, AND COMMERCIAL

Lyttelton Times, Volume LXXVI, Issue 9511, 5 September 1891, Page 5

MONETARY, AND COMMERCIAL

DUBLIN COMMERCIAL CONFERENCE. [Special to Pbess Association.] [Received Sept. 4, at 10.30 a.m.] '' LONDON, Sept. 3. A conference of Chambers of Commerce is being held in Dublin. A resolution has been passed, favouring the expediency of arranging a close commercial union between England and the Colonies. It is believed that a congress of all the Chambers of Commerce in the British Empire would conduce largely to this end. Sir Arthur Eollitt advocated a differential tariff in favour of the Colonies. At the Dublin Conference, in speak, ing on the question of a commercial union between England and the Colonies, Sir A. Roliitt said it would involve some sacrifice of freetrade, bub he argued that federation upon a fiscal basis would strengthen the Empire. The time had arrived when they must protect their own interests. He denied that the motion was merely veiled protection. The fiscal union of the Empire was the problem of the day ,• cheapness was no longer a chief object. [Received Sept. 4, at 8.10 p.m.] The Bank of England returns published to-day show the total reserve to be .£16,718,000, being a decrease of £396,000 as compared with the previous week. The proportion of reserve to liabilities is 45’28. Consols are at 95, ex div. Three months’ bills are discounted at 2|- per cent. New Zealand 4 per cent inscribed stock, firm at 104|; 3| per cent do, quiet at 94 New Zealand long-berried wheat, firm at 45s 6d. Canterbury Mutton, 4d per lb; lamb S|d; Wellington mutton 3|d. Beef, hindquarters, 4|d. New Zealand hemp is declining. Fair medium is quoted at £2l 10s per ton. South Australian wheat is steady at 45s 6d ; Yictoriau firm at 455. Sugar, German beet, 13i 3d with market steady; Java, 15s 3d. No 1 best Scotch pig iron f.o.b. in the Clyde 475, steady.