MONETARY AND COMMERCIAL.

Star (Christchurch), Issue 4855, 22 January 1894, Page 3

MONETARY AND COMMERCIAL.

I • [Special to Peess Association.] j LONDON, Jan. 20. j The Bank of Australasia has given I a fortnight's notice of its intention to withdraw from the associated banks. The bank declines to give its = j reasons for adopting this course, but : it is generally understood that the j _ step is not an aggressive one. It is e rumoured that the cutting of the "' rates by the reconstructed banks has ! i had something to do with the matter. j x \ The Standard' s Berlin correspon- j - j dent wires that financiers propose ! i- that America, France, Great Britain : - and Germany should form a monetary | \ union, fixed on the basis of the yearly ! purchases of silver, allowing India \ ■• unlimited coinage, and fixing the | price of silver at 4d above the rupee -j 3 value. LONDON, Jan. 21. 7 Silver is unquotable, the market ! " being disorganised. Eupee paper I £61 10a per 1000. I Colonial butter is unchanged. Wool is brisk. Combing is firm, 5 but wasty greasy sorts are f-d, and j ; scoured f d below December rates. The j • total quantity catalogued up to date : is 55,800 bales, of which 51"000 bales i have been sold. v A consignment of preserved milk j ' from Queensland was opened in excellent condition. The English wheat market has a downward tendency. The continental market is inactive, and the American shows a general decline. > For Australian wheat on passage sellers are asking 28s, but buyers refuse to give more than 27s 6d, Tallow, medium mutton 275, beef 26s 6d. EOME, Jan. 20. Premier Crispi asserts that the commercial rupture with France is driving the Italians into the German markets. A run has taken place on the State Savings Bank in this city. WASHINGTON, Jan. 20. The Treasury bonds have been subscribed twofold.