COMMERCIAL.

Press, Volume XLVI, Issue 7383, 8 August 1889, Page 4

COMMERCIAL.

MELBOURNE MAKKETS. The National. Mortgage and Agency floacpAKT report Tinder date Melbourne, JOthJuly:- . During the past month business in the grain trade has dragged somewhat, owing to the uncertainty of the tariff alterations which are expected to be included in the Budget proposals to be placed before Parliament to-night. The immediate future 2>f prices depends entirely on the increases made, and great diversity of opinion asists as to what will be proposed. Distributors complain loudly of the difficulty In getttuz in money lately, and, with a few exceptions, they have been operating inaJiahd-fco-morith way, preferring to be idle rather than run the risks which will attend any further advances in the price of horse feed. TJp to the present the weather has been all that could be desired for the growing crops, and reports from all parts of the colony say they are in a forward condition, the wheat crops being particularly healthy. Wlieat improved slightly at the beginning of the month, bnt has eased again. Only a small quantity offering, and millers have just been able to get sufficient to keep them going. The larger holders are not quoting at all, but offers of Sβ Sd to 5s 9d would probably bring out a fair quantity. Most of that offering has been of oiT quality, and to-day's sales range up to 5s 63d for good milling. It is beyond doubt that our stocks are short, but, if the dnty is not increased, shipments from New Zealand may be expected to such an extent as would prevent much advance.

Flour continues quiet in sympathy "with wheat. A steady export to New South Wales and Queensland has, however, been going on, and stocks of old flour have been working down. Values are today £11 to £11 los for stone made, and £12 to £13 os for roller.

Oats—Arrivals have been heavy, and a £air_proportion of them let go at 4s to 4s Id (duty paid); the remainder were stored t>& spec, of the duty being increased. Stocks are roughly estimated at IOO.OOG bags, the bulk of "which have cost their owners 4s 3d to 4s 4d. Sydney market continues flat, owing principally to the fact that their maize is much cheaper feed, and it oar Government increase the duty aanraize, this outlet for their surplus will be gone. Baxley—Very little good malting about, but what has been offering found ready ouyers at 5s Gd to 5s 7d, and at least as 9d xiuld have been got by judicious handling. L);t* -qualities slow of sale at from 4s 9d is is 3d. Cape,, after being neglected for ?onic time, has come under notice again, r~iid sales have been made to-day at from is 10d to 4s _d; this is being largely used lor mixing with oats far crashing. ITarifT—fcince above has gone to press the Budget speech ha* been delivered, and it is proposed to increase the duty on oats and barley from 2e to 3e per cental, the increased r»te to come into operation i _ Ist December next].