COMMERCIAL

Otago Witness, Issue 2201, 7 May 1896, Page 25

COMMERCIAL

The Chairman of the Union Bank of Australia (Limited), in the course of his remarks to the shareholders, referred to the liquid "reeou ices of the bank, which amounted to £7,806,000. A continuance of the policy of keeping extensive liquid resources had been deemed advisable. To do this, coupled with the lessened outlet in the colonies for money, owing to the condition of trade caused by 'recent events in Australia, necessarily affected profits. He refarred with satisfaction "to the material increase in the price of wool, equal to a rise of 2d to 2}d over the prices current at the commencement of 1895, which should have a most beneficial effect on the whdle condition of Australasian business generally, although the effects of the recent severe drought in Australia must to a certain extent neutralise the advantages caused by the improved prospests of wool. The revenue collected at the Dunedin Customhouse during the past month on goods cleared for consumption amounted to £28,503 18s Id, and the beer duty came to £1256 2s In the corresponding" month of last year £24,932 14s 9d was collected on . goods, and the beer duty amounted to £1224 103 7d.

Messrs Dalgety and Company (Limitad) have received cable advice from their London oißce stating that their directors have declared an interim dividend of 4s par share, being at the rate of 8 per cent, per annum, payable on May 15. The National Mortgage and Agency Csmpany yesterday received the following cable advice from London :—": — " The present price of New Zealand mutton is Is 5d to 2s 2d per stone. The maiket Is glutted."