LONDON COMMERCIAL.

New Zealand Herald, Volume XXV, Issue 9186, 16 October 1888, Page 5

LONDON COMMERCIAL.

[press association*.] London, October 9. The English wheat market is improving, and increasing in firmness. The Continental and American markets have also an upward tendency. The American visible supply of wheat is 31,500,000 bushels. The total quantity of wheat and flour afloat for the United Kingdom is 2,252,000 quarters, and for the Continent 708,000 quarters. An Australian off-coast cargo has been sold at 423 to 42s 6d. Leather is quoted at 9id to 10d. Twelve hundred bales of rabbit skins have been sold at an advance of id to 2d per dozen. Twelve hundred c<i3es of kauri gum have been sold, but the prices remain unchanged. London, October 11. The weekly returns of the Bank of England, published to-day, show the total reserve in notes and bullion to be £11,003,000, and the proportion of reserve to liabilities 34£ per cent., being an increase of £70,000 in the total reserve, and an increase of i per cent, in the proportion of reserve to liabilities. The tallow market is firm. Prime mutton is quoted at 29s to 29s 6d ; best beef 28s to 28s 6d. Ox hides are quoted at 4^d. Loxdox, October 13. German sugar is quoted at 13s. Iron is selling at 40s 9d, and tin at £100 10s. The English wheat market continues strong, and the continental remains steady, while America shows a slight decline. Australian wheat on the spot is quoted at 43s Gd, and New Zealand long-berried 43s 6d to 445. For cargoes of the new crop sellers are asking 42s 3d. Australian flour, ex store, is ao 28s 6d, and New Zealand, ex store, 275. Colonial beans are selling afc 375. New Zealand hemp is quoted at £28 15s to £29. The money market is declining: in anticipation of a decreased withdrawal of gold. Consols are at 100|, and New Zealand five per cents, at 104 i. London, October 14. New consols are £98 5s Bd. Mr. Youll, financial agent, advises Australian colonies to postpone loans until the bank rate is reduced. Copper has declined, and is now quoted at £82 10s. Wellington, Monday. Messrs. John Lysaght and Co. (Limited), of Wellington, have received a cable from home intimating that the price of their "Orb" iron has advanced to £17 f.0.b., London, and that the wages of wrought ironworkers in England are advanced 7i per cent. [PER K. Z. L. AND M. A. CO., LIMITED.] London, October 10. Wool.—The sales closed this day at the level of last sales, except greasy and fine greasy crossbred, which havs advanced Ad per lb, also scoured, fine washed crossbred, and scoured crossbred, which have advanced to Id per lb since the close of last sales. Greasy crossbred has declined id to Id per lb since the close of the last sales. The sales comprised about 221,000 bales ; 11,000 bales have been held over for future disposal, and 102,000 bales have been taken for America. Wheat.—The market is quiefc. New Zealand wheat average is worth 41s 6d per 4961bs landed. New Zealand wheat f.a.q. is worth c.i.f. to arrive 40s per 4801bs.