Commercial.

South Canterbury Times, Issue 3299, 29 October 1883, Page 2

Commercial.

London, Oct. 27. Consols remain at XOlf. The Bank rate of discount remains at 8 per cent and the market rate has risen to 2f. New Zealand securities —5 per cent 10 40 loan is at 104£ ; 5 per cent 1889 loan, 106 ; 4J per cent 1879-1904 loan* 100|; 4 per cent inscribed stock, 102. The market for colonial breadstuffs is flat and prices are nominal:—Adelaide wheat ex store, 455; New Zealand do, 37g 6d to 43s 6d; Adelaide flour ex store, 325. The total quantity of wheat afloat for the United Kingdom is 1,790,000 quarters, a decline of 80,000 quarters during the week. Australian tallow is quiet. Prices have further fallen 6d per cwt. Best beef is quoted to-day at 39s ; best mut« ton, 40s 6d. Australian hides are in good demand at Is Bd. [Special to the “ Stab.”] London, Oct. 23. The Pacific Affairs Committee have now completed their report, and it will shortly be made public. It is understood that it will recommend an increased naval inspection of the labor trade, and the appointment of five Deputy Commissioners resident in the Islands, who will alone have authority to issue licenses for recruiting. Agents appointed by the Imperial Government are also to supersede the Colonial Government agents now employed. Mr Commissioner Eounely is to be stationed in New Guinea. The Committee express an opinion hostile to allowing Queensland to have any control over New Guinea, and also opposes absolute control being given, even to a Federation of the Australasian Colonies over the destinies of millions of Polynesians. They think it will be sufficient for the present if the Imperial authority is asserted to an extent sufficient to exclude any Foreign Power from New Guinea. The report says the interests of Germany are paramount in New Britain, New Ireland, and Samoa. The annexation of Fiji by New South Wales or New Zealand they regard as impossible. General M'lvor’s proposed expedition to Port Constantine is strongly condemned.

Sir Arthur Gordon will resign the High Commissionership of the Western Pacific when he proceeds to Ceylon in January next. It is probable that his successor will be a distinct officer, resident in the Islands, and not holding office also as Governor of any colony.

The Orient mail steamers are to call regularly at Adelaide on both the Home and outward voyages.

The President of the Glasgow Chamber of Commerce has been requested to convene a meeting to support the ropresentations of the Federal Conference in Australia on the subject of the annexation of New Guinea.

Oct. 24.

In reply to specific questions from Mr Smyth, Lord Derby reiterates the obstacles which stand in the way of the annexation of certain islands; while with regard to others, annexation is at present unadvisable. He states that he is prepared to define the conditions under which the Government would be prepared to approve of annexation. If the colonies would federate, or agree regarding annexation, there would then be less difficulty in the transfer of Imperial obligations, but it is impossible, in the absence of assurances as to bow the colonies would discharge these obligations, to state whether the Imperial Government would approve of annexar tiou in any case or not. If the proposed conference in Australia decides that annexation is desirable, Lord Derby professes himself willing to discnss the details, and to ascertain how far such a course is practicable. He is unable to suggest even what the cost would be to the Colonies, but the exercise of further supervision by the Imperial Government over New Guinea and the Pacific Islands must involve an expenditare of several thousands annually.

Oct. 26.

Mr A. M'Arthur, who had one of his eyes severely injured while out shooting will lose the use of it. The sight of the uninjured eye, which it was feared he would lose in consequence, has been saved.