MONETARY AND COMMERCIAL INTELLIGENCE.

Wellington Independent, Volume XVI, Issue 1673, 4 October 1861, Page 4

MONETARY AND COMMERCIAL INTELLIGENCE.

The mercantile advices from New York this week state that an impression was generally eucouraged to the effect that the Southern Confederacy was about to give in, although all the letters thence continue their tone of defiance. At all events it is regarded by some experienced observers that there will be no protracted war, for the people will not stand the cost. With this feeling prevalent it is probable that the rumours of a disposition on the part of the South to treat are merely an expression of an intense desire for a speedy compromise which is beginning to be felt on both sides. The Board of Trade returns for the last month are satisfactory compared with May, 1860. The declared value of our exports exhibits an increase of £256,882, or more than 2£ per cent., caused chiefly by large shipments of cotton goods. The great fire has formed a prominent topio of conversation ; on a moderate computation the total loss is expected to reach £2,000,000 sterling. The Bank rate of discount has been lowered from 6 to 5 per cent. Consols for money, 90J to 90f . The suspension had taken place of Mr. J. Grieves, of Cracechurch- street, Eastern merchant. Liabilities, £60,000. There has been another failure, the firm being that of Messrs. W. J. and H. Millar, of Lombard-street. The stoppage has been caused by their house at Melbourne. Messrs. Millar, Brothers, liabilities are £50,000. Exports to Melbourne for the month, £486,000, showing an increase of £32,000 in all descriptions of apparel and soft goods, wrought leather, railway iron and plant. Exports heavy. Exports to Sydney for the month show a decrease of £9344, principally in drapery. In the tobacco market, there is little desire to speculate. London manufacturers are acting as if there was an ample supply now and prospective. The E. S. and A. C. Bank pays a dividend at the rate of six per cent, per annum.