MONETARY AND COMMERCIAL

Lyttelton Times, Volume LXXVIII, Issue 9910, 16 December 1892, Page 5

MONETARY AND COMMERCIAL

[Special to Press Association.] . LONDON, Dec. 14. A Commission is preparing a scheme to restore the gold standard in India. Silver, 3s 2|d. The total quantity of wheat and flour afloat for the United Kingdom is -2,858,000 quarters, and for the Continent 856,000 quarters. Latest share quotations ;—Australian and New Zealand Mortgage Company, 10s; National Mortgage and Agency Company of New Zealand, ss; New ‘ Zealand Trust and Loan Company, £5. 'The American visible supply of wheat is 9,600,000 bushels. Mr Alexander, of the firm of Red" fern, Alexander and Co., Colonial merchants, who recently suspended payment, has passed his examination before the Bankruptcy Court. He admitted that his firm had lost the sum of £210,000 in the past ten years, and he personally had lost £36,000 on the Stock Exchange. The Earl of Kimberley, Secretary for India, doubts the legality of the Eastern Extension, Telegraph Company raising the cable rates without the sanction of the Conference. Sir John Pender, Chairman of the Company, declares that he is quite satisfied as to the legality of the position. It is rumoured that in the event of the Indian Government insisting on its demand for an increased transit rate of fifteen centimes per word, the Australian Cable Company will resist the claim. At the wool sales competition is better, and prices are slightly firmer. Heavy burry wools are neglected. Brokers predict that it will be difficult for Victoria to place loans ia 1893. They consider that it is impossible to convert 5 par cents unless on heavy terms, and sugest local conversion.

Australian wine imports havs increased 52,000 gallons ia eleven months.

The loss o£ the P. and. O. Company by tha wivck of the Bokhara is estimated at .£200,000. BBU3SBI.S, Dec. 14. Most of the delegates to tb© Mon©tary Conference approve M. Fonville’s scheme of issuing warrants against the deposit of silver. M. Fonvilie’s scheme improves the prospect of a tangible result to the Monetary Conference. The British delegates have asked for an adjournment of the Monetary Conference, and it is considered likely that the request will be agreed to, the Conference to meet again in May. WASHINGTON, Dec. 14. It is rumoured in Washington that the Monetary Conference now sitting at Brussels will shortly adjourn till March. MELBOURNE, L'e c. 15. Ik is estimated that this season’s export of butter will reach four thousand toes. The New Zealand Loan and Mercantile Agency Company, Limited, has received the following cable message, dated: — LONDON, Dec. 13, 'Wheat.—Market woaic; there is little demand. blew Zealand wheat, f.a.q., is worth, c,i.f. to arrive, 26a 6d per 4801 b (quotations nominal). New Zealand average aud long-berried is worth 31s and 32s per 496ib respectively. SYDNEY, Dec. 15. The wool market eoutifiuea active, and all descriptions avo meeting with good enquiry. Fricoa have not recovered from the recent slight fall, but competition ia well sustained. French and German buyers are operating freely. Up to date 224,000 bales have been offered, of which 200,000 have been cold. The following ate the current pikes s— Greasy fieeoc, good, 7fd to B|d ; superior, 9d to lid j Jamba, good to 7£d ; superior, Si to 9£d j crossbred)’, good, 8d to B£d; (superior, 9d to 9£d; ccourcd fleece, good, la Id to la If d ; Bupsiior, la 8d to la 5d j washed, good, lOd to 10-i{-d ; auperior, lid to ia O-Jd.