COMMERCIAL.

Timaru Herald, Volume XC, Issue 13236, 16 March 1907, Page 5

COMMERCIAL.

THE WALL STREET PANIC. ■ .< SERIOUS FINANCIAL SITUATION. United Press Association—Per Electric Telegraph —Copyright NEW YORK, March 15. The panic in Will street and there have been vio'ent declines, two twd' a, half million shares being sold. There vere similar experiences on the Boston, Philadelphia} and other exchanges. LONDON,. March 14. After a, further re'apse a slight rally look place on the Stock Exchange. LONDON, March 15. The " Daily Telegraph's" New York correspondent' says that it is impossible lo exaggerate the seriousness of the financial situation. The outcome looks dangerous when sh'ires a hundred million pounds in one dav, and unless, relief comes, half a dozen brokerage houses or banks must succumb. A financier of international lepulation and a railway king were both foiced 1o seek accommodations, and c ill monev touched 25 per cent. - THE LONDON MARKETS The wol sales are animated, and Iheie is keen bidding for all description*. Prices are" fully maintained. The fleece portions of the following clips sold a* follows :—Waikarea. 123 d ; T'arikau. IOJd : Opoiti, 10? d. Silver. 2s 7 7-10 d per oz. • Australian .Tanuarv-February si ipments of wheat reali-ed 30s 6d. i • Messrs Dalgely and Co. report under date L'ndon, March ]4lli •—" T'.o froze" meat market i« very dull. Prices of frozen mutton in creneral are at nar to id pel- 11) lower, and frn»en hn-h bv tn !H per lb. - Butter. —Salted 98s, nnsalted 100s."