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SOUTH WALES FINANCE

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SOUTH WALES FINANCE MONDAY, Feb. 16. Rhondda and Swansea Bay Shares have been dealt in to-day'at 9%; and North's Navigation Colliery Shares at J34 16s 3d and B4 17s 6d. The very important resolution of the strike ommittee to "block" the port cannot fail to exercise detrimental influence upon business, because whether put into effectual opera- tion or not, it will introduce a degree of uncertainty sufficient to interfere with the orderly routine of affairs. Very much of the loss sustained in the last strike irose from the diversion of trade owing to vessels being ordered elsewhere and after the cessation of actual hostilities it was a week or two before business returned to its ordinary channels. This will be the experience during the next few days, the prevailing uncertainty leading to business being transferred to other poris. Local experience of the depression in the iron trade is to be seen in the position of the Rhymney Iron Company, who have issued noticesjto con- tractors and others in the finished iron depart- ment, terminating engagements. From the col- lieries, of course, very profitable business is to be gained, and also frcm the brewery. The blast furnaces, too, will, we believe, continue in opera- tion for the present, notwithstanding the present low price of pig iron, and tho increase of com- petition from the Scotch furnaces that are being blown in, as well as from the new Dowlais fur- naces at Cardiff, the output of which will be over 1,000 tons per week. The decision of Cardiff Parliamentary Com- mittee to waive their requirement of a fixed number of years in the Severn Commissioners' mortgages, is a wise one; and it is to be hoped that now this difficulty has been removed the work of deepening the river and enlarging the locks will be at once proceeded with. One local firm has decided not to wait for the improve- ment works but will, within a. few days, commence running a steamer to Worcester. We learn that the Liverpool corn merchants are moving in the matter of obtaining abolition of the preferential rates which Cardiff low enjoys, as against Liverpool, on the Great Western and the Midland Railways. In view of this action, and more particularly of the very ansatisfactory nature ef the provisions which the Board of Trade have made under the Railway Rates Act, the importance of fully developing the competitive waterway of the Severn can hardly be over-stated. The total of shipments at Barry Dock last week reached the unprecedented total of 102,539 tons and at Penarth, 64,670 tons. The trade of the Bute Docks was a follows :—Coal, ceke, and patent fuel shipments, 69,041 tons; imports, 21,543 tons arrivals, 65 steamers, of 44,645 tons register, and 59 sailing ships, of 12,904 tons vessels in dock are 125 steamers, of 112,497 tons, aDd 106 sailing ships, of 65,698 tons register. In another column will be found the half- yearly report of the County of Gloucester Bank, which shows that a profit of £ 18,495 was made during the six months, and that a dividend at the rate of 12 per cent. per annum has been declared and £ 5,661 added to the guarantee fund. In every respect the statement of accounts will be found a highly satisfactory one.

LONDON STOCK EXCHANGE

SOUTH WALES TIDE TABLE.

-----NEWPORT EXCHANGE.

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