COMMERCIAL.

Nelson Examiner and New Zealand Chronicle, Volume XXVIII, Issue 9, 30 January 1869, Page 1 (Supplement)

COMMERCIAL.

The Bank of England's rate of discount has been raised to three per cent., with the view of checking the export of gold to the continent, a considerable amount having been withdrawn for that purpose. Tho Bank's stock of gold fell from £19,844,000, on

October 28, to £18,370,000 on December 2. Russia alone took over a million. The public loans announced last month were chiefly for Continental railway purposes. Consols, 92 £ to 92&, ex div. There is a proposal to issue American five per cent, bonds in Europe, payable in gold, and to cancel the existing six per cents. Mr. Goschen recently presided over a meeting of holders of foreign bonds, when resolutions were passed in favour of forming a council for protecting the interests of the bondholders and defraying the expenses incurred thereby. A committee was appointed. Wool. — The current series of sales opened on the 26th of November. There waa a large attendance of home and foreign buyers, and brisk competition. All descriptions obtained a slight advance, about equivalent to a halfpenny on greasy, and from a halfpenny to a penny on washed and scoured. Since the commencement, the biddings have shown increased animation, and an advance on Port Phillip is quoted of about lid. ; on Cape, scoured and fleece, Id. to l£d. The improvement on Sydney, however, scarcely exceeds a halfpenny. Accounts from all quarters are tolerably favourable. There appears reason to anticipate the maintenance of the present prices. The total arrivals were : — New South Wales and Queensland, 17,415 bales ; Victoria, 8,542 ; South Australia, 1,222 ; Tasmania, 1,802 ; New Zealand, 9,110 ; Cape, 48,951 : total, 87,042. These, with former lots held over, make up fully 125,000 bales brought forward. Colonial Securities. — Victorian sixes, January to July, £113 ; do., April to October, £110 ; New South Wales fives, 1871 to 1876, January to July, £101?. ; do. fives, annual draws, 1867 to 1875, £102.V; New Zealand fives, 1891, £98^; do. sixes, 1891, March to September, £110; Queensland sixes, January to July, £109; do. 1891, £109; South Australian Government securities, 1878 to 1892, £107 to £110 ; do., long date, £111 ; Hobson's Bay Railway shares, £51 ; do. bonds, 1895, £92. ExroitTS you the Month (from Stables' Circular), £1,243,850; increase, £313,933.— T0 Melbourne— £637,534 ; increase, £206,696. To Sydney—£337,l62 j increase, £136,439. To Queensland, £15,902; decrease, £28,930. To Adelaide— £84,768 ; increase, £1,929. To Tasmania, nil ; decrease, £32,366. To New Zealand, £168/164 ; increase, £30,165.