MONETARY AND COMMERCIAL.

Lyttelton Times, Volume LXXIII, Issue 9089, 28 April 1890, Page 5

MONETARY AND COMMERCIAL.

[BF ELECTRIC TELEGRAPH.—COPYRIGHT.] [Special to Press Association.] fiicCGivsd April 2G. at 12.15 p.m, 1 -LOKBOK, April 25, The large prepayment of the Victorian loan has hardened tho money market. New Zealand hemp, good to medium quality, is quoted at £22 15s to £23. ' Kauri gum, fine pale, averages £6. Bar silver has advanced to 3s lid per oz. Information has been received here to the dffect tbat the Governor of the Bahama Islands has sot apart 150,000 acres of land in thsso islands for tho cultivation of sisal fibre. The total reserve in the Bank of England'’ is £15,166,000. Tho proportion., of reserve to liabilities is 44‘46 per cent. Consols, 97£-. New Zealand 4 per cent inscribed stock, 106|; and 31 per cents, SSj-. Three months’ bills are quoted at L£ per cent. ri&soivcd April 27, at 10.40 a.m. | Silverhas further advanced, and is quoted at 4s per ounce. The frozen mutton by the steamer. Star of Victoria from New Zealand has arrived in good condition. Her shipment of beef has been stored, though the market is rising. New Zealand hindquarters are quoted at sdper lb, [Received April 27, at 6 p.m.] Atsil 26, At the wool sales to-day, crossbreds and best greasy merinoarwere slightly in buyers’ favour ; and ’ all other sorts were from lid to 2d below tho prices realised at tho February sales. [Received April 23, at 1.20 a.ra. l Galvanised iron, Orb brand, is quoted at £lB per ton.

SHIPPING. Arrived—Jessie Headman, from Port Chalmers (Jan. IS). Raugitikei, from Port Chalmers (Jan. 18), Himalaya, from Wellington (Jan. 13). Magnat, from Lyttelton (Jan. 4). Miltiades, from Lyttelton (Feb. 8). Wendur, from Lyttelton (Jan. 25). Morning Light, from Auckland (Jan. 4). Wave Queeh, from Bluff (Dec. 19). Eockwood, from Timaru (Dec. 18). , THE WINIFRED’S CARGO. The ship Winifred, which left Wellington for London on Jan. 14 and liad to put into Bahia, on the Brazilian coast, in order to extinguish a fire in the hold, has had the necessary repairs done, and the voyage has been resumed. Four hundred and sixteen bales of wool and flax were damaged. The wool which was condemned will, in deference to a strong protest which has been raised, be forwarded on here on tha first opportunity that oilers. Inreo hundred and ninety-six bales of flax were condemned, and will be sold at Bahia.

The New Zealand Loan and Mercantile Agency Company have received the following London cablegram, dated April 25. Wool.—Since tbe opening of the sales superior combing washed merino, scoured merino, and medium to good greasy merino have declined fd per lb. Other descriptions are unchanged. The market is slightly weaker. The total quantity catalogued to date is 131,000 bales, of which 15,000 bales have been withdrawn. Tallow. — The market is firmer. Fine mutton and good hes£ are worth respectively 25s and 23s 6d per cwt. Frozen Meat. Mutton market weaker. Canterbury and Wellington mutton is worth, respectively, 4f d and 4|d per lb. The beef market has a downward tendency; quotations are unchanged.

fEeceived April 26, at Sp.m.] BUST IN WHEAT. MSLBOUENi', April S 6. Mr Smith Ellis, of South Yarra, whom the Victorian and New South Wales Governments conjointly agreed to pay the sum of .£IO,OOO if his specific for the prevention of rust in wheat proved effectual, has submitted his views to the respective Governments. The rust he defines as a parasite fungus constitutionally affecting the wheat plant. On arriving at maturity it bursts forth and escapes in the atmosphere in the form of pale yellow smoke; The rust smoke fastens on clean wheat, producing disease, and every precaution must be taken to prevent fermentation of seed wheat, as it affords an opportunity of detaching the parasite. The principal preventive measures are to sow wheat in sufficiently wet ground, as rust smoke perishes in water; to winnow the gramand carefully avoid reaping before ripe. REDUCED FREIGHT FOR FLAX. [Feb Peess Association.] WELLINGTON, April 27. On account of the fall in the price of flax, the New Zealand Shipping Company and Shaw, Savill and Albion Company have reduced the freight on that product to London by 10a per ton, thus making it 90s by steamer and 80s by sailing vessel.