MONETARY AND COMMERCIAL.

Lyttelton Times, Volume LXXX, Issue 10099, 26 July 1893, Page 5

MONETARY AND COMMERCIAL.

[Special to Press Association.] LONDON, July 24,

Mr E. S. Davis, speaking at a meeting of the Queensland National Bank creditors, said that the suspension bad been caused by the unfair criticism of a section of the Press. Every deposit had been withdrawn when it fell due until a million sterling had been He assured the meeting that the creditors had a reasonable expectation of receiving both interest and principal, if the reconstruction scheme were sanctioned; otherwise the outlook was very poor, as Government could claim priority in the event of liquidation. If the Bank were to go into liquidation at present, it would result in an alarming shrinkage of assets. The depositors and shareholders unanimously adopted the reconstruction scheme.

Mr Licht, sugar expert, estimates that the ten months’ beet production will yield an increase of 8000 tons. The campaign is expected to be 90,000 tons below last season’s yield. July 25.

City men approve of Sir G. Dibba’ proposal to establish a sinking fund. The first ship load of Bulgarian frozen meat has been despatched to London.

Messrs Henry S. Fitter and Sons’ agent has received the following cablegram from London, dated July 24: Canterbury mutton, BM to 4d; do lamb, 4d to sjd ; Wellington mutton, 3d to 3|d; do lamb, 4d to 4id; New Zealand beef, hindquarters, 4fd to syd; forequarters, Bjd to 3|d ; Australian sheep, 2|d to 3d; do beef, hindquarters, 4|d to 4|d; forequarters, 3d to 3£d.