MONETARY AND COMMERCIAL

Lyttelton Times, Volume LXXX, Issue 10112, 10 August 1893, Page 5

MONETARY AND COMMERCIAL

[Special to Press Association.] LONDON, August 8. The creditors of the Queensland National Bank Lave approved of the reconstruction scheme. A motion to transfer the assets of tho English, Scottish and Australian Chartered Bank to the new Bank has been adjourned until Thursday. A further shipment of threequarters of a million in gold has been despatched to New York, The imports for lust month show a decrease of =£200,000, but the exports increased by ?£i90,000. August 9. The New York correspondent of the Times says all kinds of money are selling at 2 per cent premium, and paper money ranks higher than gold or lands. The Exchanges are paralysed. The Philadelphia correspondent of the Times says each city in the United States is carefully guarding its own supplies of specie. Mr Dawes, a well-known shipping maguate, has been elected a Director of the Suez Canal Company ia place of the late Sir W. Maekinnon, WASHINGTON, August 8. The President exhorts Congress to repeal the Sherman Silver Act and take such action as will prove its resolve to fulfil the national obligations in money matters recognised by civilised countries. The New Zealand Land Association, Limited, has received the following cable message, dated

LONDON, August 8,

Wheat.-—Market is quiet. New Zealand wheat, f.a.q., is worth e.i.f. to arrive, 26a per 480lbg. Other quotations unchanged since last telegram. SYDNEY, August 9. Wheat, chock 3s 3d, mill-ng (nominally) 3s fid; cat?, quiet, bright heavy feeding 2s 10d, Tartar an 3a; maize, prime 3s 8d ; barley. Gape 2s lOd to 3s; bran, 8d; pollard, &Id; peas, Prusfian ,Blue, 4s 2d; potatoes, Circular Heads £7 5s to £7 10s, New Zealand £6 5a to £6 10a; local £6 5a to £7, the market has a hardening tendency, and farmers are evidently holding for higher prices; onions, £7 10s; butter, dairy made (first-class quality), lOd, best factory Is; cheese, prime 4d to 4-£d; bacon od to 5-|d, hams. New Zealand, Is, MELBOURNE, August 9. Wheat, 2s 11-Jd; oats, Tartarian, 2s l£d to 2a 24 d, short winter 2s S-Jd to 2s 448. ADELAIDE, August 9. Wheat, 3s; flour, roller brand, £7 16s; oats, 3s 4d to 3d 7d; bran, 8d; pcllaid 8-J-d. The New Zealand Land Association, Limited, Melbourne, writing under date August 2, reports as follows: —The demand for wheat is still well miiinlalaed, and has been the rat ana of drawing more oat—still not sufficient to warrant a decline. Prime is wrrth 3s to Ss 04 L feed sorts 2s 9d, to 2a 104 J. For feed stuffs the demand experience! for oats during tho last few weeks baa slackened somexvbat, and sales are not so easily effected. The increased values h-;ve had the effect of drawing out a considerable quantity of the stored lots; hence the present glut. We quote, to-day, stoat up to 2a 4d; Tartarian and Danish 2s 2d to 3s 2.3 d, Algerian Is lOd to Is lid for fed, and up to 2s Id for milling. ' Maize ia moving off in trade lota at 3s for new, and up to 3a 3d for prime old red. Peas a little firmer; 2s 5d to 2a 5Jd offered. Beans, Haricot, 6a 9d. Barley is scarce, and prices seem likely to harden. We quote for prime up to 4s 7d.