COMMERCIAL.

New Zealand Herald, Volume XXIV, Issue 8036, 25 August 1887, Page 4

COMMERCIAL.

New Zealand Herald Office, Wednesday evening;. Messrs Hesketh, Altken. and Co., sold today by anotion, at their-Halll.sa Or 36p , Hnd at Epsom, known a» Mclndoe's, for £000. M»jor George was the purchaser. Mr D F Evans sold to-day, at his rooms, the property of Mr. 0. E. Madden, having a frontage of 4S feet to Hobson-streot. There was a very large attendance. The bidding started at £650, and gradually rose to £830 at which price it fell to the bid of Mr. W. Cameron. Mr. Evan* also sold the property known as Stewart's Farm, containing 22 acres 31 perches. This property started at £200, and on reaching £445 the hammer fell to the bid of Mr. J. W. E. Wright. Messrs. Tonks and Co. sold by auction to-day, at their rooms, 550 cases of Hobart apples at pries ranging from 7s 6d to 10s 6d per case. Messrs. Q. W. Binney and Sons sold a quantity of fruit to-day. The prices were as follows . Apples, per oase, French Crab, 10s 6d; Sturmer Pippins, lis 6d; Russets, 9s 6d: Scarlet Pearmains, 9j 6d; lemons, 7s 6d; Mandarins, 16a 6d ; oranges, 6s per case.

TERMS OF CREDIT IN DIFFERENT j COUNTRIES. The following data regarding the comparative terms of credit allowed in various countries are derived from reports of United States consuls published by the Government. It appears that in Germany the credit system is very widespread, and the time allowed purchasers to settle their accounts is generally much longer than in France and England. Nearly every commercial and manufacturing branch of business has its own particular terms of credit, and there is no uniformity in this respeot. In Eugland, a payment of the price of the goods delivered is required at the end of three months, dating from the day of shipment. In France, a four months' acceptance is required to be sent In settlement of the iavoioe. In Italy, but little credit business is done, and none without good security being given. In Spain, four-fifths of the transactions are done on a cash basis, while in Portugal great liberality is shown, and quite a long credit is usually allowed. In Austria, it is scarcely possible to do business without allowing a very long credit, which is nearly always one of six months. In Turkey, even objects of prime necessity are sold on credit, and in this country, as well as in Russia, the time allowed is in most cases twelve mouths. In Canada, settlements are made at the end of thirty days, with a discount of five per cant. Sometimes a credit of from three to six months is allowed, but in this case there is no discount granted upon payment of the account. In Mexico the large commercial houses willingly give a credit of from six to eight months, and in the retail trade long terms are given customers in which _ to settle their accounts. In Costa Rica a credit of from six to twelve months is given in case of merchandise imported from Europe, in order that the goods may be easily and quickly disposed of. But since this system of credit has often led to losses, it is now being given up. In Cuba, the time fixed for payment is generally from four to five months after delivery of the goods. In Brazil, at Rio Janeiro, as at Buenos Ayres, the mini* mum; credit is six months, and often more. In the Bermudas, accounts are settled but once a year. The 30th of June is the day usually "fixed for the payments. In Asia Minor, a credit of but two or three weeks is in most ewes all that is allowed. In China, it is not customary to give credit. Money is obtained from lenders, who exact an interest of from eight to twelve per cent. Business is nearly always conducted upon a cash basis.