COMMERCIAL. London, August 27.

North Otago Times, Volume VII, Issue 147, 19 October 1866, Page 2

COMMERCIAL. London, August 27.

Bank discount wm reduced on 17th August to 8, and on the 23rd to 7 per cent. Reported Continental Banks intend reducing their quotations for general accommodation. The supply of money it large in the English market, and is increasing. Prospect of a splendid harvest, and no commercial disasters of importance, cause a strong feeling of confidence. Consols for Money, 88* ; Account, 89. The alter*, tion in rate of discount caused great improvement in the produce markets. Liquidation of outstanding engagements in the India and China trade are most satisfactory. The Preston Bank ho* resumed business under favorable circumstances. Steps hare been taken for the resuscitation of Agra and Maiterman't Bunk. Holders of Land Grants of Northern Territory of South Australia have been advised by Counsel todemand return of purchase-money. Medirs Romanjee r Parsee merchant*, hate failed : liabilities, L300.00O. Overend Gurney's liabilities of L18,000,000 hare been reduced by the liquidators to L5,000,000. Failures. — The failure of Younghusband it Co., of Australians reported ; no connection with the Adelaide firm of same name. David Law, engineer, Glasgow, L232.000. Edward Tiernan, tea trader,! London, L4o,(XH). Hopwood & Son, Manchester. L70.000. Colonial Government Securities. — N. 8. Wales Fives, 1866, January and July, no quotations- 1 New Zealand, 93-95 ; do fives, 75-77.