Monetary and Commercial

Star (Christchurch), Issue 4576, 22 February 1893, Page 4

Monetary and Commer c ial

[Special to Pbbsb Association.] LONDON, Feb. 20. Lord Ardilaune's petition tor the compulsory winding-up of the Federal Bank in England has been further It is expected that the whole of the New South Wales Treasury Bills, amounting to £736,000, will be sold by the date of the closing of applications, Feb. 25. Feb. 21. Sir Saul Samuel, in a letter to the Westminster Gazette, states that Mr Wilson's strictures on New South Wales, published in the /Standard, are. gross and' malicious misrepresentations. He points out that the New South Wales Government has still unsold one hundred and fifty-one million acres of land, of which one hundred and forty - eight millions are leased, and worth a hundred millions sterling. The railways alone, he says, are worth the public debt. The revenue from lands and public works leaves a surplus of .£679,000 after defraying interest. He reasserts that there is no chance of the Colony repudiating its liabilities. In conclusion Sir Saul mentions /.that taxation in. the Colony is not a heavy burden, and that the Government is steadily economising. NEW YOEK, Fbb. 21. Intense excitement was occasioned in Wall street, owing to an Official Eeceiver being appointed for the Philadelphia and Reading .Railway Company. A million shares were sold in two hours.