THE MARKETS.

Press, Volume XLIII, Issue 6627, 18 December 1886, Page 3

THE MARKETS.

[BXOTBB'S THJB9BAMS.] Received December l"th, 12.40 p.m. London, December 16. The Bank of England has raised the rate of discount to 5 per cent. It is | expected there it ill be a large withdrawal j of gold for North America owing to a panic on the New York Stock Exchange yesterday. Received December 17th, 3.30 p.m. London, December 16. The wool sales are closed to-day. Daring' the series 100,000 bales were : catalogued and 32,000 held over. The

various descriptions experienced the foi- j lowing decline in prices:—Australian, greasy, l£d lower; Australian, sconred,3d , lower; Port PhiUipa and Sydney, fine to finest greasy and scoured wools, 2£d lower; inferior qualities, 3£d lower; ' greasy crossbreds were about Id lower; scoured eroesbreds 2d to 2id lower; the first series of next year's sales open on January the 25th. It is probable that the quantity to he offered will he 210,000 bales. i Consols to-day are quoted at 100J, bfeing a decline of t. The market rate of discount is 4J per f below the Bank rate. The total reserve in notes and bullion in the; Bank of England is £11,600,000, a ' decrease of £100,000 during the week. The proportion cf reserves to liability is 43 per cent. New Zealand securities, colonial breadstoffe, and tallow are at last quotations. Beeeired December 17th, 1 p.ra. Mblbottrne, December 17. The monthly circular of the New Zealand Loan asd Mercantile Agency Company states that probably 13,000 to 15,000 tons of Victorian wheat will be available for export this season. Tins is based on an estimate of 12 bushels per sere. Tha New Zealand Loan and Mar. eantile Agency Company held their weekly sales yesterday in the presence of a full complement of bnyers. The catalogue comprised 3023 bales, 2881 being disposed ef, making a total of 2881 bales daring the week. The competition was animated. The market for greasy wool is firmer than last week, without, however, any material alteration in prioe. Greasy wool sold up to 10|d, washed fleece 15rL scoured 17ld.

Received Deoember 17th. 10.5 p.m. Sydney, December 17. New Zealand wheat is selling at 3s lOd per bushel. New Zealand oate at 2« Id, maize per 561bs, 3s 6d; Sugar Company's No. 1 pieces, £25 per ton; pollard is unsaleable at 9d per bushel. [spxciAT, to raxes association] Beceired December 17th, 15.90 p.m. London, December 16. The wool sales closed to-day withont prices rallying. One hundred and twentyfive thousand bales were catalogued, and 34,000 were withdrawn, inclusive of 15,000 which bad not been offered. Good greasy merino wools were Id, inferior 2d, scoured 2d to 3d, and crossbreds Id below September closing prioes. The next of the series of the sales will be opened on January 25 th.

The New Zealand Loan and Mercantile Agency Company Limited has jest received the following cable message from London, dated 16th December, 1886:—

Wool—The. sales closed fitly at an average decline of fully 2d per lb on last sale's prices, except lambs' wool, for whioh the market is unchanged. The principal decline has been in scoured and in medinm and inferior greasy. New clip has declined Id per lb. Wools of a faulty character are neglected. The totel quantity sold during the past sales is 100,000 bales, and 32,000 bales bare been held, over for fntnre disposal. 49,000 bales have been taken for the Continent, and 1000 for America. The next sales will commence on 25th January, 1887.

Frczen meat—Market firmer. New Zealand mutton, weighing per carcase 601b to 651b, is worth 4\A. per lb.