COMMERCIAL.

New Zealand Herald, Volume I, Issue 72, 5 February 1864, Page 4

COMMERCIAL.

j ]jondon, December The Bank of England has raised the min- 1 ; inium rale of discountto S per cent. Large 1 ! foreign drafts arc being made on the bank , 1 for sovereigns. Tlie Bank of England 1 rehirn for the week ending the 26th of i November, shows the following changes, as 1 i compared with preceding returns: —Increase j —.Reserves notes, £515,565 ; Treasury i balance, £588,08-1. Decrease —Bullion, ; £51.270; current account, £601,0:51; bills j discounted, £477,020. • The uncertainty ill the discount market j interferes materially with the free circulation i of money. ; The Board of Trade returns for October indicate an exiraordinary increase in the j foreign trade, which goes to explain the rise iin the value of money. Consols for money. !90V to -ij ,ex div.: ditto account, i)OJ, ex div. j Colonial Government Securities. —New I South Wnlcn 5 per cents., 18'.50, 101 to 102. j Victoria 6 per cents., January and -Tuly, 107 to 109: April and October, 110 to 110.1 ; ,South Australian 6 per cent., 1878, 1.12 to : .114; New Zealand (J per cent., 1878, 110 to 112. The proprietors of the Union Bank have passed a resolution ontheSOth of November for an increase in the capital of £500,000. The P. and O. Stcaui Company's dividend for. the year is 7 per cent. i (ribbt', ;iml Co.. and Raines and Co. 1 luwvi \o\ued as partner* in the National ( CsJlnpH? 1 .;', Oi XJi ri'pr.r,), J