FALL IN THE RATE OF DISCOUNT. (Received May 14,10 a.m.) LONDON. 13th May.

Evening Post, Volume LIII, Issue 113, 14 May 1897, Page 4

FALL IN THE RATE OF DISCOUNT. (Received May 14, 10 a.m.) LONDON. 13th May.

The Bonk of England rate of discount is reduced $ per cent., and is no\r quoted at 2 per cent. Silver, 2s 3|d. Following is a copy of the London market cable received by the New Zealand Loan and Mercantile Agency Company, Limited, yestcrtlay: — Wool — Sinco closo of laat sales, greasy merino lambs, super, medium, and inferior, aro par to £d por lb lower. Slipo, medium and coarse washed and scoured crossbred, greasy crossbred lambs, washed and scoured merino super, fine washed aud scoured crossbred, and medium greasy crossbred, are £d per lb lower. Greasy moriuo super and fine greasy erossbreds are Id per lb lower. Other descriptions are unchanged. Competition by both Home and foreign buyois is fairly active, but the American demand is limited. The total quantity catalogued to date is 87,000 bales, of which 9000 bales have been withdrawn. Tallow— Tallow is dull of sale ; New Zealand fine mutton tallow is worth 18s 6d per cwt ; New Zealand good beef tallow is worth 16s 9d per cwt. Messrs. Murray, Roberts, & Co. bava received the following wool market cablegram from their London House, Messrs. Sanderson, Murray, & Co., dated 12th May, 1897 • — Compared with closing rates of last London sales, the market has declined 10 per cent, to 15 per cent, for good to extra good greasy combing merino and crossbred wools ; but compared with the opening rates of the present sales, other descriptions have advanced a shade.