THE MARKETS.

Press, Volume LIII, Issue 9305, 4 January 1896, Page 7

THE MARKETS.

Press Association—By Telesrraph—Copyright London, January 2. Balme and Co.'s Circular states that there are fair prospects that the wool values "will be maintained during the coming series of sales. Buxton and Eonald's Circular says that further expansion of business and higher values generally are expected. January 3. The weekly returns of the Bank of England, published to-day, show the total reserve to be £35,292,000, and the proportion of reserve to liabilities 53.04. Three months' bills are discounted at 1 per cent; market quiet. . Consols 106£. New South Wales 4 per cent., 115J ; 3£ ditto, 105£; Victorian, 108 and 108 j*; Queensland, 109 and 103£; South Australia, 109f and 106 ; New Zealand, 108* and 102f; Tasmanian 3£ per cent., 103|; West Australian 4 per cent., 121. Quotations for New Zealand frozen meat, hemp, and wheat are unchanged. South Australian wheat, 28s 7£d; Victorian do, firm, 2Ss 9d. ; Sugar, German beet, firm, lis; Java, 12s 10§d. No. 1 best Scotch pig iron, f.o.b. in Clyde, 45s 7£d. The butter market is steady, and prices are unchanged. Peas, 27s 9d. The Bradford wool sales are weaker. Foreign affairs are depressing business.

(PRESS ASSOCIATION TELERQAM.) INVERCARGILL, January 3. The first auction sale of wool for the season was held to-day. There was a good attendance of buyers and competition was very animated for the best, but somewhat languid for inferior. The demand was chiefly for strong wools, and good lustrous Lincolns were l£d to l£d better than at the opening sale last season, say up to B_rd. Strong clean crossbrcds of good long staple ranged from Id to Ifd better than last year, at up to B|d. Fine light halfbred of good staple made up to 9d and may be quoted at from |1 to Id better than last year. Inferior crossbreds and low quality halfbreds, weak and tender, stained aud dirty wools were about *,d to |d better than last year, but were not muoh sought after. Pieces and bellies had a better demand at from Id to 2d advance on last season's prices. Owing to the wetness of the season and a number of farmers selling privately, the offerings were 4000 bales less than last year, and the quantity passed in was large, many sellers having inflated ideas of the value of inferior wool.