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COMMERCIAL.

The following extracts are from the New Zealand Loan 1 and Mercantile Agency Compands ■ circular, dated London, Oct. 9th ■ * ■' it, tt ■ 1 The 'special feature to note in tne Jiome industries is the increased activity in the iron trade. Considerable excitement has prevailed during the month, and prices mark a decided advance. Speculatrve influences have no doubt had a great deal to do with this sudden - inflation of values, but it seems to be the general opinion in the trade that the lowest level had at last been touched, and that the revival is likely to be lasting. Wages have not yet been affected, but the tendency is towards a speedy movement in favor of the men. Apart from iron, the trade of the country shows, no. improvement, the cotton and troollen' in duatries continuing dull and depressed, without any signs of an immediate change for,‘the better. ' Com Market.—Much of the wheat crop in the Midland and Northern districts of the United Kingdom still remains uncarried, and some even uncut; and the result/of the harvest will certainly prove to b 4 fur Iworse than was anticipated a month ago. The quantity of hew wheat as yet'brought to market is quite small, and fears are entertained that in many parts of the country it will be difficult to find even a sufficiency of wheat suitable for seed. There has been a strong demand ■for ■/, Foreign produce on the part of both millers and speculators, in consequence of which prices have advanced some 7 s. ;i or Bs. per quarter. At the present moment America is nearly the only seller of wheat in the United Kingdom, Russian supplies being almost exclusively directed to France apd Germany ; and as stocks in the United States are reported to he generally firmly held, shippers are enabled to dsk higher rates with confidence. The advance in Californian wheat, which is specially marked, is said to be the ‘result of ’the efforts of a strong ring, buying ■ and holding for the rise. - Several, r failures of “bear speculators, who amongst , them were believed to have made forward contracts amounting to 400,000 quarters, have ‘ cecesaitated large covering purchases by their representatives in. this country. These have naturally intensified the excitement in our markets. . For a cargo of'Australian wheat, arrived off coast, 555. c.i.f. for the Continent, was recently bid, and if there were any other ’Xrn-n** afloat that price could be easily obumecir Of New Zealand arrivals the Coromandel and G.B.S. have been ordered to Hull, and the Edmund Fox to LonAustaiiuih spot is held firmly; fine Victorian in granary being worth as much as 60s. New Zealand sells readily at 555. to! 565. for good qualities. Flour is 3s. to 4s. dearer than at date of last report, but there is nothingfrom Australia or New Zealand in the market at present. Closing quotations are : s. s. ms South Australian wheat 57 to 58 per 496 Victorian do. 58 ~ 60 ~ ~ New Zealand do. 50 „ 57 ~ ~ Australian flour ' ... .*• 36 », 40 ~ 280 New Zealand do. ... ... 34 ~37 ~ ~ The following is a copy of a telegram received yesterday by the New Zealand Loan and Mercantile Agency Company (Limited), dated London, 19th NovemWooa.—The sales opened with spirit on the isthinst. , and comprise about 83,000 . .foalesi 3,000 bales have been sent to the . manufacturing districts direct. Home j<■ buyers are purchasing freely. The following haVe advanced since close of last sales: —Greasy, Id. per lb.; superior combing, washed and scoured, to 2d.; clothing washed, Id.; medium and inferior greasy, M, to Id.; cross-bred greasy, Id.; crossbred, superior combing, washed and scoured, 2d. to 3d,; lambs , id. to Id. fll tTACbOW. —Market quiet. Stocks of all * aorta, 14,500 casks' Mutton is worth 435., and beef 40s per cwt. Wheat. —Market quiet. Foreign arrivals heavy, Adelaide is quoted at 605., .<irid New&eaUod a* &8s P er 4961bs -

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http://paperspast.natlib.govt.nz/newspapers/AG18791125.2.4

Bibliographic details

COMMERCIAL., Ashburton Guardian, Volume I, Issue 26, 25 November 1879

Word Count
643

COMMERCIAL. Ashburton Guardian, Volume I, Issue 26, 25 November 1879

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