SYDNEY.

Wellington Independent, Volume XXII, Issue 2567, 5 September 1867, Page 6

SYDNEY.

Green, the New South Wales champion sculler, has been beaten by an Englishman named Hie.key, in a pair oar boat race, for £200. Tho Empire of the 2Gth ult says :—Advices respecting the low rates of discount and interest ruling in the European money market has had the effect of causing some alteration in bunk rates here. All the banks doing business in this city have decided on reducing the rates of interest on fixed deposits to 3 p.er cent for three months' deposits ; 4 for six' month, and 5 for twelve months. Some of the banks have reduced their discount rates 1 per cent, but the change has not been acquiesced in or adopted by the majority. In addition to these changes may be mentioned the decision of one bank to allow interest at the rate of the 3 per cent on the weekly miuimuin balance of current accounts. The unsatisfactory state of trade in Queensland and New Zealand has limited our tradeto these colonies. Advices from the latter continue very discouraging, and the heavy losses sustained by exporters to that market has so shaken confidence, that many refuse to exeoute orders unless accompanied by cash.