COMMERCIAL NEWS.

New Zealand Herald, Volume IV, Issue 1126, 24 June 1867, Page 6

COMMERCIAL NEWS.

London, April 26. It is believed that, the creditors of Messrs. Christopher Newton, Brother, and Co., in the Australian trade, have' agreed, to a proposal of Mr. Kent, the resident in England, to the following effecforr-To divide, in j?ro rpta

remittances tliat may arrive up to the 18th. of August; then to give the accepti ances of the firm for the payment of the balance of the creditors' claims by equal instalments at three months, extending over a period of twenty-one months from the date named, i Their liabilities amount to £403,320. It is . reported that the firm lent £100,000 in cash to i Messrs. Goodyear and Co., who stopped payment on the 18th of March, with liabilities of £.-!02,169, and assets £60,647. A meeting of l tL)° creditors of Goodyear and Co, accepted, it is reported, 5s 6d in the £. The failures are reported of E. Robinson i Co., of Stockport, for a large amount; Kotliery, Brothers, of Halifax, for £9000; Sebastian Letta, of London, for £30,000; William Horsfall Hebden, of Bridger, for £20,000; Meir Brothers and Co., of Glasgow for £88,663, with assets of £19,612; Wilkinson and Co., of" Leeds, £240,000, with assets of ; £105,000. | The money market is quiet, with little demand for discount. Bank rate of discount, 2} per cent. : on the Stock Exchange, for short loans, 2 per cent. Colonial Government Securities. —Victoria . Six per Cents., April and October, 104 to 105 ; New South Wales Five per Cents., 1871 to 1876, 94 to 96; Queensland Six per Cents., January to July, 91 to 92 ; New Zealand ditto, 102 • to 103; South Australia ditto, 1878 and up- • wards, 105 to 106. The gross exports to the Australian colonies for the month ending 16th April, are moderate, only exceeding those of last month by £78,125, and are as follows: —Victoria, a decrease of £34,537 ; Sydney, an increase of £102,693 ; Queensland, a decrease of £13,347 ; Adelaide, an increase of £6055 ; New Zealand, an increase of £26,814; Tasmania, a decrease of £9463. WOOL REPORT. London, April 26. Since last sales little business transacted ; and except much, improvement occurs in home and export trade a serious decline is anticipated for medium and faulty descriptions; while best sorts will barely fetch last sales' rates. Only a few contracts have been made with great difficulty, at slightly advanced rates, for pressing requirements. The heavy arrivals of 100,000 bales caused buyers to bid with caution, and dock up their old stock. The wool sales commenced on the 16th April, and all arriralsafter the9th were excluded. There was much depression in prices, especially in greasy, with a fall of Id to 2d for this description. It is expected that the stock|in hand for the next sales will be 100,000 bales. PRODUCE MARKETS. Sugar.—Trade dull; prices 9d to Is lower than last month's stock ; 10,000 tons less than last year. Latest prices : Mauritius, low to fine brown, 27s to 31s ; middling to fine crystallised, 34s 6d to 40s. Coffee.—Native Ceylon, Is to Is 6d lowest, and plantation Is 6d ditto per cwt. Owing to heavy ar rivals, Mocha dearer. Rio sold, best, at 43s per cwt. Rice market firm, at an advance of 3d per cwt.; Rangoon sold at 12s 4id ; good business in common sorts for export. Corn.—Sales of wheat and flour at rather easier prices. Canadian nominal, 27s to 31s per barrel for best brands. Spirits.—Corn spirits arc without change ; a fair business doing in brandies, and prices are firm. Wiiiej : All descriptions: lower. Rum : Prices maintained, but the market is quiet. Metals.—Good business in eopper, at a reduction of £2 to £3 on the prices of previous month ; latest prices, Wallaroo, £S0 per ton for cash. Tallow.—Prices easier, markets dull; P.Y.C. spot, 44s 3d ; fine Australian mutfon, 455; beef, 44s 6d; stock on hand now, 23,208 casks, against 30,590 last year. Cotton.—All descriptions exceedingly dull of sale, at a decline of one half-penny per lb. Leather.—Australian, limited sales, and late prices barely maintained. Hides.—Active demand for Australian at full rates—all offered at public sales sold readily. Oils.—Small business doing at easier rates for nearly all descriptions ; best double compass, Southern, £44 10s ; cod, £41; colonial sperm, £138 ; pale seal, £44 10s. Whalebone.—Davis Straits, £420; and Southern, £400 per ton. Bahk.—ln less demand, at easier rates. Bones and Hoens.—No sales. Skins.—Last month's rates maintained.