AUSTRALIAN COMMERCIAL.

Otago Witness, Issue 2202, 14 May 1896, Page 7

AUSTRALIAN COMMERCIAL.

Sydney, May 9. The fateful 4th passed in a satisfactory manner. City traders' accounts were well met, while country houses asked &bjub the ordinary amount of accommodation. The feature of the week wu.B the high price recorded fou New South Wales 5 per cent, debentures due in 1902, which" 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 liquidator of the Mercantile Bank of Melbourne (who has paid a dividend of lOd in the pound, making 6s 8d paid in all) does not auticipate a further dividend till next year. The properties taken over from debtors in 189t, valued at £98,000, appreciated in value last year to £168,000. The Btnk -of Adelaide's annual report indicates s general improvement in financial matters. The 'bank occupies a strong position and has derived material advantage from the opening up of mines in Westralia. Although, as the chairman said, the year 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 adoption of the A.M.P. Society's annual reporfc, Mr Richardson expressed hia belief, without fear of contradiction, that New Zealand was the best assured country for its population in, the world. Investment stocks continue in fairly good demaud although the higher prices now ruling prevent indiscriminate buying. Very little business is doing in steam and insurance shares. The Melbourne Stock Exchange reports continued activity in investment stocks, with, a hardening tendency in prices. Local coal shares are receiving attention,, while Weatport (New Zealand) shares are quoted at the reduced price of 40s. Sydney, May 9. In the import, market the general character of. the opening' trade of tbe month is fairly favourable although devoid of interesting developments ; in fact matters have settled down into a hand-to-mouth groove, due in a measure to the unusual dryces^ of the season. Rain is badly wanted, and a dry winter following a dry summer is not a combination to be desired by • the mercantile world. A parcel of 2500 Racks of Calif ornian wheat more or lei« 8 damnged by water, owing to a small fire abroad the Rossshire, realised in one line. 3s Id per bushel." Tasmanian hops are in good demand, largely owing to a shortage of Victorian and the almost prohibitive prices asked for the New Zealaud article.

At the wool sales the easier feoling which pervaded the London market communicated itself locally. The fall in sconreds may be computed at £<1 per lb, while for low sorts the decline was even more. Melbourne, May 9. Some idea of the state of the meat market in London is given by Mr Sinclair, the Victorian expert, in a letter to the Agricultural department. During the recent glut of live stock from America Sides of fresh-killed beef from Deptford sold in .London as low as If il per lb. One large stock firm lose £12,000 over shipments to Great Britain. Ttiere is moderate trade in the various markets. Wheat is. very riovr in demand. Millers' stocks, however, are not large, and will shortly require repleninhing. Orders from Western Auvtralia are coming to hand freely in various lines, but business is somewhat hampered by a lack of facilities at Fremantie for the delivery of goods. Sydney, May 9. Tbe mining markets generally closed weaker. Proprietary dropped lOd, and are quoted at 48s 31. In gold and coal shares there is practically little alteration. At Melbourne during the early part of the week the feeling, except for Tasmanian stocks, was weak, but closed, however, with c more active feeling in regard

to silver stocks, Proprietary's being somewhat etsier. Sales wera effected at 47s 6d. British Broken Hill were also pressed on the market, and quitted at 22s 6d. Gold shares had a good extent of business. The Adelaide Exchange experienced dull markets, although that improved slightly at the close.

Perth, May 9. The quantity of gold exported during April was J. 6 0720z, an inoreare of 56871Z over the preceding month. A very rich md is rtportad trom Mount Margaret. 9 Largo samples of quartz containing big daubs of gold were brought in Mr More purchased the prospeobors' claim for £58,000. Another company's representative snapped up the ndjjiniDg ground. Th« find comprises a hill 200 ft high, with ah ore body 150 ft wide Very rich atone has beea struck in & de*pised Cathinans mine. An English syndicate abandoned fche property a little time back. A party of working miners took >t up, and discovered a shoot of gold from which they dollied 14oz from 201b we ; gh6 of sbone.