AUSTRALIAN COMMERCIAL REVIEW.

New Zealand Herald, Volume XXXIII, Issue 10128, 11 May 1896, Page 5

AUSTRALIAN COMMERCIAL REVIEW.

Press Association.—ElactrloTelegrapb.—Copyrltflic.

Sydney, May 9. The fateful fourth passed in a satisfactory manner, City traders' accounts wore well met, While Country housos asked about the ordinary amount of accommodation.

The feature of the week was the high prico recorded for New South Wales 5 per cents. Debentures due in 1902 realised 112, while those due a year earlier netted 110, probably the highest prices ever paid for Government securities either here or in

England. The liquidators of the Mercantile Bank of Melbourne have declared a dividend of lOd par £1, making 6* 8d paid in all. They do not anticipate a further dividend till next year. Tho properties taken over from debtors, valued in 1894 at £98,000, have appreciated in value last year to £188,000. The Bank of Adelaide annual report indicates a general improvement in financial matters. The bank occupies a strong position, and has derived material advantages from the.opening up of mines in Western Australia. Although, as the chairman said, they had been remarkably free from loss the Board did not feel justified in recommending a dividend of more than 7 per cent, per annum. Speaking in support of the Australian Mutual Provident reports Mr. Richardson expressed his belief, without fear of contradiction, that Now Zealand was the best assured country for its population in the

Investment stocks continue in fairly good demand, although the higher prices now ruling prevent indiscriminate buying. Very little business is doing in steam or insurance shares.

Melbourne, May 9. The Stack Exchange reports continued activity in investment stook with a hardening tendency. Prices of local coal shares are receiving attention, while Westport and New Zealand shares are quitted at the reduced price of 40a. BflnfEv, May 9. The import market is fairly favourable, although devoid of interesting develop ments; in fact, matters have settled down to hand-to-mouth groove, duo in a measure to the unusual dryness of the season. Rain Ib badly wanted, and a dry winter following a dry summer is nob a combination to be desired. A parcel of 2500 sacks Callfornian wheat, more or less damaged by water owing to a small fire aboard the Rossshire, realised in one line 3s Id per bushel. Tasmania!) hops are in good demand, largely owing to the shortage in Victoria, and almost prohibitive prices are asked for tho Now Zealand article.

Ab the wool sales easier feelings which pervaded tho London market communicated itself locally. The fall in scoured may be computed at Jd per lb while for low sorts the decline is even more.

Some idea of the state of the meat market in London is given by Mr. Sinclair, Victartan expert, in a letter to the Agricultural Department. During the recent glut of live stock from At>>rica sides of fresh killed beef from Doptford sold in Loudon as low as ljd. One large stock firm lose £12,000 over shipments to Great Britain.

Wheat is in very slow demand. Millers stocks, however, are not largo, and will shortly require replenishing. Orders from Wost Australia ire coming to hand freely in various lines, but business is somewhat hampered by the lack of facilities at Fremantle for the delivery of goods. Tho mining market generally closed weaker. Proprietary dropped lOd, and are quoted at 48s 3d in gold.