MONETARY AND COMMMRIAL

Lyttelton Times, Volume LXXIX, Issue 9986, 15 March 1893, Page 5

MONETARY AND COMMMRIAL

[Special to Peess Association.! MELBOURNE, March 14. At a meeting of the representatives of the Associated Banks it was decided that all the institutions should act unitedly in rendering each other assistance if required. It was stated that the Government would co-operate. The decision of the Government to assist the Associated Banks should necessity arise is the subject of much congratulation in tho city. Shares in the banks all round are rising in value. HOBART, March 14. It is expected that the hop harvest will be tweflty-Sve per cent below the yield of previous years. [Per Press Association. I , DUNEDIN, March 14. _ The Directors of the Colonial Bank, in their half-yearly report, state that the net profit for the half-year, after the usual deductions, has been £19,013 Is 7d, which, with the balance brought forward, makes £27,398 Bs. After deducting the tsx on note circulation, road the Laud and Income tax of £2215 IBs 4d, there is available £24,923 10s 4:1, Tho Directors recommend adding £2500 to tho reserve fund, which will then stand at £55,000; tho payment of a dividend of 7 per cent on the paid up capital, absorbing £14,000, Ibaving £8423 to be carried forward. Mr P. C. Neill is the retiring Director. The bankruptcy returns for Otago and Southland show the bankruptcies in 1892 to have been 99, as against 145 in 1891. The sum paid to credit-era, including preferential claims, was £.13,051, equal to 5s 4d in the £. During the nine years the Act has been in operation, the payments to creditors came to rather over 4s l-)d, The total proofs were £1,110,979. Tnis year, so far, there have been ouly four bankruptcies in Dunedin, bub there have been soma private arrangements. The New Zealand Loan aud Mercantile Agency Company, Limited, Melbourne, writing under date Match 8 lenorta as follows ;- The position of tho wheat market remains unchanged. A fair demand still exists locally at 3s I-A-d vo 3s 2(3. In feeds stuffs, oats are moving off with a little more freedom at the following rates ;—For stouts, up to 2s; Tartarian, 1a"9.1 to la lOd; dirty, Is 7d to la 8d; Algerian, Is 5d to la 7jd. Maize has collapsed in sympathy with the Sydney market, and the best price now is 3s 4.1 to 3a fid for prime samples!. Barley etiLl continues to harden, and as much as 4s 5d to 4a fid has been paid for fair lines. Posts, 2s 4d ; rye, lower, 3s 3d now paid; beaaa, horse, 3s to 3s 3d; grass-seed, os fid to 4s; cocksfoot, 3.i to 03 d per lb.