FINANCE AND COMMERCE.

Poverty Bay Herald, Volume XXII, Issue 7411, 13 August 1895, Page 2

FINANCE AND COMMERCE.

London, Aug. 11. The Tekoa arrived with her sheep in good condition. One was lost. August 12. — The London and Australian Debenture Co. offered 50,000 4$ per cent, bonds, tenders for which were over subscribed. . A consignment of Timaru mutton has been sold in Manchester direct. • - . Sydney, Augusjt-13. , Itisßtated the Australian Smelting Company is already, negotiating 'for/the supply of ,150,000 tons of small, an^'?so,ooo tons of round coal from the Illawarfft pits j also that the i . Hill Proprietary Company is considering the erection of largo smelting ' worlAin ,the district. ' , v '.Th!«'^ Herald^ commenting on the Australffpian q'u^rtei'ly.baiiisiDg returns, says :— 'VNevelr ; '%fo|ieiAliay.p^tlie cojonies had so large a •per(Jeiirage.-jdf v . coin and bullion to liability as afc namely, 4a lOJd in the £. While the advances generally have shrunk, New Zealand and Western Australia alone show a small increase." CITY OF MELBOURNE BANK. MELBOURNE, Aug. 10. The Age Btates that the suspension of the I City of Melbourne Bank will not materially affect local interests, as the occurrence had long previously been foreseen in financial circles. It would be most seriously felt in the country districts, where large sums hud been advanced on mining plant on the strength of calls to come in. If the borrowing companies cannot transfer their loans in some instances thuy will have to wind up. A strong hope is expressed that arrangements will be made to re-open the bank.