COMMERCIAL.

Timaru Herald, Volume LVIII, Issue 1819, 30 July 1895, Page 2

COMMERCIAL.

Per Electric Telegraph— Copyright. Per Press Association. London, July 28. The total quantity of wool catalogued up to the end of the week was 345,200 bales, of whicli 327,200 bales were sold. The bidding yesterday was spirited. The catalogue comprised a good selection! and prices,- were very firm. American buyers made heavy purchases. The English wheat market is firm, the Continental is inclined to buoyancy, and the American shows a general advance. Cargoes of South Australian wheat have been sold as follows:— Per ship Queen of Scots, 25s 3d ; per ship Helios, 245 ; per barque Seriol Wynn, 25s 6d. Spot quotation m New York for No. 2 red winter wheat is 79£ cents. At yesterday's; sales 1550 casks ol Australian tallow were put up to auction, of which 1000 casks were sold. The prices realised, were mecVium beef 20s, medium mutton 21s 6d. Silver, 2s 6 3-16 d. The Times says that during the last six months private deposits m the Bank of England h&ve increaraed by £8,000,000. Great Britain now retains £50,000,000 every year, which weire formerly em. ployed abroad. The Financial Timee, referring to the Bendigo mines, expresses the opinion that some day Bendigo will be even with South Africa and Western Australia. Ottawa, July 28. The oificial estimate of the Manitoba wheat crop is 30,000,000 bushels. Sydney, July 29. The half-yearly report of the Joint Stock Bank shows net profits of £24,900, and balance from last half £26,300. A dividend of 4 per cent, is recommended ; £1500 to be added to the reserve, and £2000 carried forward. The rise m wool m London is affect* j ing the local market. Two lots were i placed at, Is lid and Is 3d, respectively. |The latter is the record price for the current year, and Id per lb above the top quotation realised at the last auction sales, either m Sydney or Melbourne. Mblboubhe, July 29. The London .correspondent of th# Arffuf, writing under date June 21flt, ia

regard to the eoi.iing wool sales says that New Zealand is heavily represented and so far as the prospects can be gauged the clip has arrived most opportunely. Growers will find a strong rising market for coarse gva<ies and it is evident that bright-haired wools have entered upon a new lease of life, and that there is every probability of the decline m values being recovered. New Zealand growers may congratulate themselves on their good luck, for until a week ago people expected the heavy arrivals would have the effect of weakening values. New Zealand nrossbreds are largely offering. The New Zealand wools at the coming series naturally excited some comment as to the quantities sold locally compare* l with the amount sold m London, as Un» local auctions m New Zealand, as is n-.'ll known, are small compared with Victoria and New South Wales. There is a strong feeling among buyers and consumers here that if some •teps could lie taken to centralise the market m New Zealand and so make the business mo; c easily workable, largely increased support would be more readily given and success similar to that experienced m Sydney and Melbourne might be expected. If one large central market m the North and one m the South Island could be established an impetus would be given, and inducement held out to buyers that would prove effectual to the growth of the local market.