MONETARY AND COMMERCIAL

Lyttelton Times, Volume LXXIV, Issue 9166, 28 July 1890, Page 5

MONETARY AND COMMERCIAL

[BY ELECTRIC TELEGRAPH—COPYRIGHT,"} [Special to Press Association.] [Received Jnly 26, at 10 a.m.] LONDON, July 24. The weekly returns of the Bank of England, published to-day, show the total reserve in notes and bullion to .be .£12,210,000. The proportion of reserve to liability is 38’90 per cent. Eew Zealand 4 per cent inscribed stock, 105|; 3|- ditto, 95. New Zealand long-berried wheat, 37s 3d; Yictorian, 38s ; Adelaide, 38s 6d, quiet. Copper, ,£57 16s per ton; Australian tin, .£94 5s per ton. No. 1 best Scotch pig iron, f.o.b. in Clyde, 45s 9d. Sugar—German beet, 13s 6d; Java, 16s 9d, steady. Consols, 96f; three months’ bills, 4 per cent. Silver, 4s 2d per oz. [Received July 28, at 12.40 a.m.] July 25. The present rates of freight have been fixed to remain until November, when they will be reconsidered. The demand for kauri gum is improving. At the wool sales 312,000 bales were offered, and 110,000 held over. The Economist states that as the New Zealand Estates Company’s security is sufficient, the interest asked is certainly high. Jolt 27. Australian wheat ex warehouse, 38s to 38s 6d; New Zealand long-: berried, 37s 6d to 38s. Leather— Best sides, B|d to 9d. [Received Jody 28, at 2.20 a.m.l Mr Justice Chitty has been appointed provisunal liquidator to wind up the New Zealand Agricultural Company. [Becieved July 28, at 3,20 a.m.J Messrs Goldsbrough and Co. issue a quarter of a million 4 per cent debentures at a minimum of 95. The special meeting of the Bank of New Zealand to elect new Directors will be held on August 26, and the half-yearly meeting on August 28. The New Zealand Estates Company’s debentures are quoted at a premium of 2 to 3 per cent. NEW YOKE, July 26. Operators are attempting to establish a cotton corner. The New Zealand Loan and Mercantile Agency Company, Limited, have received the following London market telegram, dated JULY 25. Tallow—There is a good demand. Fine mutton has declined 3d per cwt since last report; other quotations unchanged. Frozen meat—Mutton market quiet. Canterbury and Wellington mutton is worth respectively 4|d and 4d per lb; beef market firmer; New Zealand fore and hind-quarters are worth respectively 2|d to 4|d per lb.