THE MARKETS.

Press, Volume LII, Issue 9301, 31 December 1895, Page 5

THE MARKETS.

Tress Association— Br Telegraph—Copyright. London, December 28. The weekly returns of the Bank of England, published to-day, show the reserve to be £34,155,000, and the proportion of reserve to liabilities 55.82. Three months' bills are discounted at per cant. New South Wales 4 per cents, 116 : 3i do, 105*. Victorian, 108£ and 102. South Australian, 110£ and 106. Queensland, 109 and 103£. New Zealand, 109£ and 103. Wesfc Australian 4 per cants., 121. Tasmania Si- par cents., 104. New Zealand long berried wheat, nominal. New Zealand hemp and frozen mutton are unchanged. Lamb, sd. South Australian wheat, ex warehouse, steady, 283 6d; Victorian, quiet, 283 9d. Sugar, firm; German beef 103 9d, Java 12s IOJd. No. 1 best Scotch pig iron, f.o.b. in Clyde, 45s 7*d. Silver is quoted at 2s 6£d per oz. AUSTRALIAN COMMERCIAL NOTES. Press Association—By Telegraph—Copyright Sydney, December 30. Now that the important half of the wool year is concluded some interesting figures are obtainable as to the position of the Australian markets demonstrated by the sales. Sydney disposed of 304,000 bales, Melbourne 199,000, Adelaide 70,000 and Geelong 73,000 bales. The percentage of sales to the offerings also shows a steady increase, for whilst ten years ago the proportion was only 59.9 the rate this year is 90.5. For the full years 1894 and 1895 the percentage was 87, and the present year promises to equal, if not exceed the 1892-93 record, when the proportion was 91.2. Before the commencement of the holidays, the produce trade was very limited and confined almost entirely to immediate wants. No doubt, with the Ist of January past and the duties off, a stimulus will be given to buyers. Local potatoes met with fair demand, while the new crop of New Zealand is very quiet. The reason alleged for this is said to be that New Zealand potatoes, when cut, are rather yellow ; thus, when the local supply is plentiful it gets the preference. The Banks' Exchange settlement for the week ending Monday amounted to £2,516,000, compared with £2,684,000 for the previous week, The decrease will probably be found to be due to the cessation of business pending the removal of the duties. A steady stream of travellers is arriving from the Golden West into the eastern colonies. All who could afford to get away from the broiling climate offered by Coolgardie this season have done so. The thermometer touched 118 in the shade one day this week. The exodus makes work on the mines slacker. In driving at the SOft level in the North Ai-rdock mine a nice formation carrying gold was met with. Some magnificent stone, surpassing anything obtained for some years was brought from the Southern Cross at Mount Malcolm. Nuggets of clear, shotty gold stand out prominently all over the surface of the stone, while some of the small pieces of quartz are nearly three-parts gold. The Eastern exchanges closed with a good feeling, but with little alteration in the quotations at Sydney, liapai Vermonts are quoted, buyers at 8s 9d ; Proprietarys, stuady, 555. Melbourne, December 30. Unlike its predecessors, 1895 has been a period of considerable activity on the stock exchange, marked by an almost general appreciation of values. The forces which brought about the financial crisis appear to have expended themselves, and a more confident feeling pervades commercial and financial circles. The features of the market have been the enormous rises in the quotations for silver share 3, and the large measure of attention devoted to West Australia. The former is largely due to the solution of the sulphide problem, as well as the somewhat improved price of silver. Within the colony gold mining has received much attention, a revival in activity in the country districts resulting in a considerable addition to the aggregate wealth of the colony, stimulating speculation in the Victorian mines. Bank stocks are also much firmer. The export of butter is computed as equal to last season, but it is doubtful whether it will be maintained after the New Year. The London price is, however, satisfactory to the local pro- ' dueer. With butter at Is per lb in London, farmers here can go on producing all the year rounds even i£ hand feeding requires to be resorted to daring the dry period of the summer. In the import market there is limited business. Millers prefer not to purchase, not desiring to have deliveries within the next ten days. The New Year may bring some definite information as to how the wheat crop 3 are turning out, and brisk business may ensue with more settled prices. The boisterous weather has kept back the harvesting operations, and the strong winds are shaking out the ripe grain. Already there is a slight advance noted in the country districts.