MONETARY AND COMMERCIAL

Lyttelton Times, Volume LXXVI, Issue 9494, 17 August 1891, Page 5

MONETARY AND COMMERCIAL

EISE IN WHEAT. [SPECIAL TO Press ASSOCIATION.] [Received August 16, at 10.40 a.m.] LISBON, August 14. The Government has issued an order prohibiting the further importation of wheat into Portugal, till the stocks on hand are consumed. LONDON, August 14. The Bank of England returns, published to-day, show the reserve to bo £17,106,000, being an increase of £288,000, as compared with the previous week. The proportion of reserve to liabilities is 44'22. Consols, 96j. Three months’ bills discounted at if per cent. New Zealand 4 per cents, 104 f ; 3|r per cents, 94J. New Zealand long-berried wheat, firmer, at 42s 6d. Wellington frozen mutton, 3|d per lb ; Canterbury lamb, 4Jd; quotations for beef unchanged. New Zealand hemp, good average quality, is weaker at £24 per ton ; Auckland, fair sample, £22 10s. South Australian wheat is firm at 43s 6d; 'Tictorian also is firm at 42s 9d. Sugar, German Beet, 13s 6d ; Java, 15s, nominal. No, 1 best Scotch pig iron, f.o.b, in the Clyde, flat at 47s 3d; copper, £52 5a ; tin, £92 10s ; silver 3s 9§d. [Received August 16, at 6 p.tn.} BERLIN, August 14. Owing to Russia prohibiting the export of rye, the price of that article has advanced considerably, and is uow 16s dearer than wheat. The increase has caused a panic in the grain market, LONDON, August 15. , The Eussian inhibition has caused a general rise in the wheat market. English has advanced 6d further; German is active; red winter, New York, 10 cents dearer. There is an enormous advance at Amsterdam, Vienna and Berlin, owing to the action of “ bears.” The agitation is increasing in Germany for a reduction of the duties on corn and other food grains. The cargoes of wheat, ex Lismore and Nitb, from Lyttelton, have been sold foresport to the Continent. The •Lismore’s realised 40s and the Nith’s 40s 3d. The diamond-back moth is ravaging the crops in the north of England. Clouds of moths obscured for a whole night- the light from the lighthouse on Far rue Island. [Received August 17, at 12.40 a,m.] BERLIN, August 16. Tho Council of Ministers of Berlin has decided not to reduce the corn duties at present, but will agree to a reduction in freight charges for cereals on the State railways.

The Now Zealand Loan and Mercantile Agency Company, Limited, has received the following cable message, dated LONDON, August 14. Tallow ia ready of sale. Pine mutton and good beef are worth respectively 28-3 3d and 26a 3d per cwt. Now Zealand Hemp. Medium qualities are neglected, but fine and good are in demand. Medium is worth ,£2l per ton. Frozen Meat. —Mutton market dull. Canterbury and Wellington mutton is worth respectively 4gd and 3|d per lb. Lamb, market unchanged. Beef —Supplies of American beef are heavy, and there is little demand. New Zealand fore-quarters are worth 2|d per lb, and hind-quarters 4|-d per lb. Quotations nominal.

[Received August 15, at 11.50 a.m.] SYDNEY, August 15. New Zealand potatoes are quoted at £2 ss. ADELAIDE, August 14. Rain has fallen in tho southern provinces, and the drought is broken up. KOBABT, August 15, Tho British Bank, a small financial institution, has closed hero and at Launceston. The reason, assigned is tho want of capital, £IOO,OOO of which represents tho entire deposits.