MONETARY AND COMMERCIAL.

Star (Christchurch), Issue 4684, 30 June 1893, Page 3

MONETARY AND COMMERCIAL.

[Special to Pbess Association.! I LONDON, June 28. i Mr R. H. Glyn, Chairman of the j Bank of New Zealand, intends to ask ; \ Lord Brassey to join the Directorate .j of the Colonising Company which he ] ; I is busy floating. ( ] City men do not approve of Mr ! , . j Gordon's attempt to place New j • \ j South Wales bills in the market. j j '. | At a Queensland dinner, Sir F. J. J \ j Garrick said the colony was ready to j i j meet the interest on the debt, and • ! would shortly emerge triumphant \ from all difficulties. Dadhabdoi Naoroji, the Parsee . member of the House of Commons, \ contends that the closing of the } Indian mints is entirely in the interest , ' of the officials, and will increase the : „ burden of the taxpayers. ! 2 The estimated visible supply . - of American wheat is 73,700,000 o bushels. ; * Competition at the wool sales is ', good. A large quantity of New Zea- j c land sold at firm prices ; Hakatera- J r mea brought Is 2d, Clarence Is 2|d, ' - Krongart Is 3|d. It ' The White Star liner Gothic, of 8000 tons, has been launched at Belfast. She will trade to New , Zealand after the autumn. Messrs Goldsbrougb, Mort and Company's petition will be heard on >' July 8. " Great disturbance in the trade with a China ie feared through the action of the Indian Council in closing the mints. American mine-ownars are offering silver in England at 2s 9|d. LONDON, June 29. All silver securities are greatly depressed. Silver is quoted at 2s 7Jd. 3> The low price is owing to American sales, and a further fall is expected to-morrow. It is believed that the price will stop at about 2s 6d per oz. _ Government will favourably consider the claims of the Indian Banks respecting the million and a half pounds' worth of diver at present afloat.

WASHINGTON, Junk 29. Senator Brand declitroa that the action of In<lia will force Congress to consider tho adoption of bimetallism. NEW YORK, Jone 29. There is increase disorder on the Exchange owing to the closing of the Indian mints. Senator Bland declares that the actiou of the Indian Council is part of a cons pirn cy to bull-doze Congress to adopt a single gold standard. He is of opinion that the attempt will not be successful. HOBART, Jone 30. There has been a heavy fall in silver •stocks.