MONETARY AND COMMERCIAL

Lyttelton Times, Volume LXXXI, Issue 10257, 27 January 1894, Page 5

MONETARY AND COMMERCIAL

[Special to Press Association.] LONDON, Jan. 25. The total quantity of wheat and flour afloat for the United Kingdom is 1,764,000 quarters, and for the Continent 1,056,000 quarters. The American visible wheat supply is estimated at 99,700,000 bushels. A cargo of Australian wheat has been sold at 26s 9d. The tone of the wool market shows a better spirit. Foreign buyers are active. Stout combings are made dearer, while other sorts are steady. ' The money market is firmer, owing to expected large demands. Three months’ bills are discounted at If per cent. Mr Weddel, the meat importer, states that Wills and Co., of Port Said, have patented a process for thawing beef and mutton, experiments with which showed that thawed meat was virtually equal to chilled. It is expected that the process will raise the price Id per lb, and it is also believed that the invention will overcome the objections raised by the War Office against taking beef for Malta and Gibraltar. Specimens of meat treated by the process will be exhibited at Smithfield Market next week. Jan. 26. Colonial produce merchants are confident that the present is an excellent time for shipping to the English market large quantities of hydraulicpressed bran, chaff and hay, but the market is not favourable for unpressed. The commercial utility of the Imperial Institute is being advocated.

The New Zealand Land Association, Limited, has received the following cable message, dated LONDON, Jan. 25.

Wool Sales progress firmly; prices are now on a level with closing rates of last sales, escept coarse, greasy cross-bred, which has advanced per lb. The market for inferior greasy merino is weak. The total quantity catalogued to date is 64,000 bales. Wheat—The market is dull. Quotations unchanged since last telegram, Rabbitskins. —Arrivals are excessive, and the market is easier. Best descriptions have declined |d per lb since last report, and inferior descrip, tions have declined |d per lb. MELBOURNE, Jan. 26. At the half-yearly meeting of shareholders in the Proprietary Mine, the financial conditions were stated to be eminently satisfactory. The profit on that period amounted to ,£453,000, of which .£288,000 has been paid in dividends, and £30,000 added to the reserve fund. [Per, Press Association.] AUCKLAND, Jan. 26. The Taupiri Coal Company shows a net profit of £llß6 3s 4d for the half-year ending Dec. 31. It is proposed to pay a dividend of Is per share.