COMMERCIAL.

South Canterbury Times, Issue 7269, 24 July 1893, Page 1

COMMERCIAL.

fPsit Kleoxbio Telegraph—Copyright.)

(Pee .Press association.)

(Received 6.30 p.m., July 23rd.) London, July 22.

Justice Williams has adjourned for a week the petition to transfer the assets of the Commercial Bank of Australia to the new bank, and it is possible that another meeting of the creditors and shareholders will be necessary before the Court will sanction the scheme of reconstruction.

Justice Williams, in approving of the scheme of the English, Scottish, and Australian, Chartered Bank, remarked that the details offered to the creditors were meagre. The same Judge, in dealing with the London Chartered Bank of Australia, expressed his intention of inserting a provision preserving the liability of the existing shareholders.

The directors of the Bank of New Zealand recommend the declaration of a dividend for the half-year at the rate of 5 per cent, per annum. The sum of|£l9,ooo is carried forward to next year’s account, and £IO,OOO is placed to the reserve fund.

New York, July 22.

The Commercial Bank in Milwaukee has suspended, with liabilities amounting to 1,100,000 dollars.

London, July 22.

Mr Beerbohm estimates the wheat crop of the United Kingdom at 7,600,000 quarters, and of excellent quality. The French crops he estimates will yield 100,000,000 hectolitres.

(Special to Press Association,)

(Received 11.80 a.m., July 22nd.)

London, July 21.

The Daily Chronicle considers that the Victorian income tax is solving the problem of Government by democratic methods.

The New Zealand Loan and Mercantile Agency Company’s directors propose to call up an additional £1,000,000 of capital from the shareholders, and to make the terminable debentures permanent. (By Telegraph.) WELLINGTON. July 22. The local agent of the firm of Messrs Ootzes and Gerritsen, London, completed the purchase of the largest parcel of butter ever bought and sold in one standing line in this colony, namely, 72 tons from the Brown Dairy Factory Company, New Plymouth. All of it is fine batter, and the value with freight, insurance, etc, is over £6OOO.