MONETARY AND COMMERCIAL.

Colonist, Volume XLVIX, Issue 11771, 30 October 1906, Page 2

MONETARY AND COMMERCIAL.

London, October 25. The release of Japanese money at the end of the Stock Exchange settlement eßaed the money market, despite ,6345.000 sent to Egypt. The Bank of England rate of discount on three months' bills is now quoted at The arrival in London of £1,---014,600 in gold from South Africa , assisted in improving the tone of the money market. Hemp is firm— October-December shipments £36 53. Sheep: Canterbury light, 4J£d ; medium, 4 l^d ; heavy, 4d ; Southland, 4i^d: North Island. 4d ; best brands, 4 1 £ d. Lambs: Canterbury light, sd : medium, 4%d ; heavy, 4^d Southland, none offering; North Island, 4%d. New Zealand beef: Ox fores, 2?.£d ; hinds, 3%d. \ The Zinc Corporation is raising its capital to £500,000 by the issue of 113,333 shares at 255. Subscrip- ; ions have been guaranteed by Messrs ' Baillien, Bowick, Moring and Co., 1 Govett, Lionel Robinson, Clark and Co., and the London and West Aus tralian Exploration Company. They are receiving an option over 46,667 , remaining shares. , Daleetty and Co. 's report for the j year ended June shows profits £165.380. A dividend of 6 per cent and a bonus of 1 per cent have been declared, and £35,000 has been added ' to the reserve, £5000 being appropriated to the foundation of "a staff * benevolent fund, ana .£55,380 being carried forward.