COMMERCIAL.

Timaru Herald, Volume LVIII, Issue 1665, 19 January 1895, Page 2

COMMERCIAL.

» p Per Electric Telegraph— Copyright. Per Press Association. , Sydney, January 18. The Australian Joint Stock Bank during the current half-year intends to prepay the first instalment of the extended deposits, thus anticipating the due date by a couple of years. ■ X] Melbourne,- January 18. i, The Argue points out that whereas o five years ago Victorian 4 per cent, stock was quoted at Hi per cent, higher m London than m Melbourne, that now the quotation is 6£ per cent, higher m Melbourne than m London. The h obvious inference; therefore, is that the C] time has arrived at which an Anglo- a

istralian rather than an English arket m Australian securities should established. Better still would be c formation of an international market lereby Paris and Berlin, as well as mdon, could co-operate with Mel•urne and Sydney. The Argus adds at when the Australian Governments' edit emerges from the present trials, will be held m higher esteem than r er, and render it possible to-Hnterna-onaiise securities. In the meantime ivestors m such securities can do much 3tter by buying m London than Lin the >lonial centres, and thereby help to >store colonial credit to its old -high Dsition. London, Jarftfitty:iß. The Times states that it is runifcured mt the Scotch banks will assist the ustralian reconstructed banks to meet iterest on deposits. The weekly returns of the Bank of England show the total reserve to be 26,202,000, and proportion of reserve to abilities 62.62 per cent. Consols, 104$. Three months' bills are disconated at per cent. New South Wales 4 per cent, stock, 08 ; Zi per cent ditto, 100±. Victorian 4 «r cent, stock, 101*; 3* ditto, 100*. iouth Australian 4 per cent, stock, 106 J. iueensland 4 per cent, stock, 105* ; 34 litto, 98. Tasmanian 3i. per cent stock, ®i. Wesiern Australian 4 per cent itock, 110$ . New Zealand 4 per cent itock 106*; 3£ ditto. 100*. New Zealand frozen mutton, first luality, 4d per lb ; second ditto, 3*d; amb, 4sd. The New Zealand hemp market is unchanged, i - ■ " New Zealand long- berried wheat, ex warehouse is firm at 255. South 'Aus;ralian wheat, ex warehouse, steady, at i6s6d. Victorian ditto, steady, at 265. Sugar, German beet, is weaker,' 8s ; Fava, quiet, 11s 6d. No 1 best Scotch pig iron, f.o.b. m the Dlyde, 41s 7*d. At the wool sales an excellent cata[ogue was submitted, and there was keen competition, especially for best lots, which the Americans bought. The French buyers are increasing their purchases.