COMMERCIAL NEWS. London, October 29th.

Otago Witness, Issue 839, 27 December 1867, Page 5

COMMERCIAL NEWS. London, October 29th.

The discount market has assumed a settled appearance, and is firmer in tone. There is no expectation of a reduction below the existing minimum rate of two i per cent. Tho supplies are large, and only the very best bills are taken at from three- ' eighths to one-half per cent. The stock of gold at the Bank is still large, and almost beyond precedent. Several panics have taken place on the Stock Exchange and on the Paris Bourse, but they are now over. Consols fell to 93!, but now stand at 94| to 94£ for money and account. Reduced Three per Cents, now stand at 92£ to 92-i. The advance in Australian securities has not been maintained in some instances. New South Wales Government five per cents., 1871 to 1876, January and July, 97 to 99 ; do five per cents., 1888 to 1895, January and July, 933r to dih. New Zealand five per cents., 91 to 95 ; do. six per cents. , 1891, March and September, 105 to 106. j Queensland six per cents., January and July, 99^ to lOOi : do., 1891, 99i to 100!. Victoria Government six per cents., January and July, 1101 to 111!- ; do., April and October, 108! to 109}.. Other Australian securities are lower. The Royal Bank of Liverpool has suspended payment, with liabilities amounting to L 1,650,000. The Commercial Bank of Canada has | suspended. The Oriental Bank has declared a dividend of 12 per cent. Learmonth's prize wool realised 4s 10-! d per pound. Haylea's Circular states the imports for the past nine months to be L 6,402,108 as against L 9,382,104, 382, 104 in the same period of last year.

MARKETS.

Wheat is from Is to 2s per quarter higher. The harvest in France and Spain is bad. Hops are in good demand, and fine samples are scarce. Hides are active at a slight advance. Skins are lower^, in consequence of the large supply rroin Australia ; they show a farthing decline. Leather is in short supply ; transactions are restricted ; higher prices would have ruled but for the largeness of the supply from Australia. Linseed oil on the spot is L3B ; rape is quiet at L 39 for English brands. Sperm oils firm at Lll7 ; whale and seal are wanted. Pig-iron is at 55s 3d for round numbers. Copper meets with but little demand, Burra is at LB4 ; spelter is brisk, and firm at L2l 10s. Tallow, P.Y.C., on the spot, is at 44s 9d to 455. Large shipments are expected from Russia. The market is easier.

LONDON WOOL MARKET.

I Schwartz's Circular says the following ! wools have arrived for the approaching November sales : — Port Phillip, 6024 bales ; Sydney, 14,011 ; Adelaide, 910 ; Van Diemen's Land, 494 ; New Zealand, 7077 ; Swan River, 108 ; total Australian, 28,624 ; Cape, 43,464. Making a total of 70,088 bales. Adding the inconsiderable quantity afloat and the wools held over, the total of first hand wools to be sold in November will probably reach 89,000 bales — a figure that will be further increased by second hand parcels usually offered for sale at this time of the year. The stagnation reported by the last mail continues unabated, and extends over all branches of business. The retail trade is especially suffering heavily, from the greatly restricted consumption which the losses of the last twelve months have broright about. They look for low prices, more especially as stocks are ample, and as the wools to be sold will offer but an indifferent selection. |

SHIPPING.

Arrivals. — Canterbury, Aggie M. , Dunbar Castle, Anglia, Anglo-Indian, H.M.S. Esk, Moravian, Countess Russell, Valdivia, Result, Tinto, Vidfario, Wave of Live, Corsair's Bride, Gala, and the Great Britain. Departures. — For Melbourne — The . Holmsdale, Dandenong, Macduff, Sou- ■ them Cross, John Perm (s.), Dover Castle, Omar Pasha, Antiope, Light of ; the Age, Norfolk, and Berstgrave. For Sydney. — William Duthie, Lands- • borough, Canaan, and Esmeralda. For Adelaide. — Darra, Alwynton, Tasso, Frisk, and Duke of Sutherland. For Freemantle. — Huguenot, Tartar, , and Christmas. For Brisbane. — Witch of the Seas. For Launceston — Fugitive. For Hobart Town. — Parroby. I The mimber of vessels on the berth for ) Victoria is 18 ; Sydney, 10 ; Brisbane, 4 ; fc Adelaide, 4; Tasmania, 2; and New Zealand, 7.