MONETARY AND COMMERCIAL

Lyttelton Times, Volume LXXX, Issue 10211, 4 December 1893, Page 5

MONETARY AND COMMERCIAL

[Special to Press Association.] LONDON, Dec. 1. The Bank of England returns, published to-day, show the total reserve in notes and bullion to be .£16,982,000, the proportion of reserve to liabilities being 60'8. New South Wales 4 per cent inscribed stock 104, 04 do 92; South Australian 4 per cent inscribed stock 102 j, 3| do 93f; Queensland 4 per cent inscribed stock 103 j, 3| do 92; New Zealand 4 per cent inscribed stock 106, 3§ do 97; Tasmanian 3| per cent inscribed stock 925; Western Australian 4 per cent inscribed stock 105. Three months’ bills are discounted at 21 per cent. Now Zealand long-berried wheat, ex warehouse, 29s 3d, market firmer; South Australian wheat, ex warehouse, 80s; Victorian, ox warehouse, 29s 6d, market restricted. Mutton, first quality, 4|d ; second quality, Sfd. Lamb, first quality, Hemp ia unchanged. Kauri gum ia in fair demand. Half the quantity offered was sold. Pale hard scraped brought £7 10s ; good three-quarter scraped, £4 6s. Danish butter 130 a. Colonial ibutter is expected to fall 4s on Sat■urday, the weather being mild and •.the market dull; but it is hoped that Phe market will be easier in about a week, and will then harden up till Christmas. After that the state of the market will be dependent on the •weather. The Butter Committee is requesting to be supplied with private (advices as to the quantity coming forward. At the wool sales competition is ; fair and prices remain unchanged. Sugar, best German bee't 12s 3d, Java 15s 6d, quiet tone. Best Scotch pig iron, f.o.b. in Clyde, 43s 6d, firm. Antimony, £37 10a. LONDON, Dec. 2. The New Zealand Loan and Mercantile Agency Company’s debenture stock has risen by 3| and is quoted at 86. Mr Alfred Holt, a Liverpool shipowner, is sending a representative to Australia to inaugurate a line of steamers between Newcastle (New South Wales) and Fremantle. ROME, Dec. 2. The morotorium asked for by the Credito Mobiliare has been granted. The New Zealand Land Association, Limited, has received the following cable message, dated LONDON, Dec. 1. Wool.—The sales progress firmly. Since the close of last sales scoured merino, superior greasy merino, medium and inferior, are par to 4d par lb lower, other descriptions unchanged. There is little American demand. The total quantity catalogued to date is 30,000 bales. Tallow.—There is less demand for finer qualities, but there is au improved enquiry for other descriptions. Quotations are unchanged since last telegram. Butter.—Market easier. There is a good demand for fine qualities at UOs to 120 s per cwt. Frozen Meat.—Tha mutton market ia dull. Canterbury mutton is worth 4|d per lb; Wellington is worth 3-d. Prime New Zealand lambs are worth, per carcase, 4|d per ib. SHIPPING. LONDON, Dec. 1. Arrived—North, barque, from Lyttelton (sailed May 19). On the voyage she had to put into Valparaiso partly damaged. .Mountain Laurel, barque, from Lyttelton (sailed August 19). SYDNEY, Dec. 2. Reports regarding the wheat harvest in the Albury district show that the yield will be below last year’s average. The condition of the crops in the Wagga Wagga district is discouraging.. » . : —- [Per Press Association.} ■* i; WELLINGTON, Dec. 2. .At-the wool sales, yesterday, 820 bales were submitted, of which 180 bales were sold. The attendance of English buyers was greater than usual. Competition was decidedly keen for all better lots at about last year’s levels, and in medium and inferior qualities there was considerable improvement on the rates ruling last season. The New Zealand Land Association, Limited, Melbourne, writing - under date Nov. 23, reports as follows:—There ia nothing fresh to report in our wheat market. A good local demand still continues, but prices remain low. We quote prime at 2s lOd to 2s 10id. For feed grains the markets are quiet. Oats have more attention; a good export trade ia going on, and nearly all the available lots offering have bean taken up. This has caused a scarcity locally, consequently prices have hardened somewhat. Prime stouts are celling up to 2s 2d, medium 2s to 2s Id, Danish and Tartarian Is lOd to 2s, Algerian Is 9d to Is lid for feed, and 2s for milling. Maize is rather scarce at present locally, and fair values are being obtained; prime ia worth 2a lOd to 2s 10£d, flat 2s lOd, white 2s 9d. Peas weak at 2a 3d to 2s 3Jd. Potatoes—Owing to deliveries being slower than anticipated, there is & scarcity at the moment, and prices have been prevented from falling lower; up to £6 10a ia to-day’s value, but as soon as any quantity comos forward prices will no doubt fall.