LONDON COMMERCIAL.

New Zealand Herald, Volume XXVI, Issue 9435, 5 August 1889, Page 5

LONDON COMMERCIAL.

London, August 1. The weekly returns of the Bank of England, published to-day, show the total reserve in notes and bullion to be £12,852,000, being a decrease of £1,420,000 as compared with last week. The proportion of reserves to liabilities is 36? per cent. Consols are SS-i-. New Zealand 4 per cent, inscribed stock is IOQh, with an active market. Australian wheat, ex warehouse, is 39s 6d. The market is steady. New Zealand, 395, with the market firm. Sugar: German beet, 20s; Java, 22s 6d. No. 1 best Scotch pig iron, f.o.b. in the Clyde, 45s 6d. London, August 3. The tallow market is quiet, but prices remain steady. Best mutton, 27s to 27s 6d : best beef, 26s Gd to, 275. The Standard asserts that the firmness in copper is partly due to the persistent statements that the French syndicates have been patched up on a new basis. The North American Com* pany is clearly outside the ring, if any now exists.

An Australian cargo of wheat lias been sold at 345.

Per Nevj Zealand Loan and Mercantile Agency Co. London, August 2. Wheat. — weather is favourable for the crop. Market is weak. Tallow. —There is fair trade demand. Good mutton is worth !2"s 3d, and good beef 26s per cwt. Rabbit Skins. — The whole quantity offered at the sales was sold, and prices are higher for best qualities. Frozen Meats.—Price of mutton has declined Is 8d since last report. New Zealand Hemp.—Common qualities are neglected, but good are in demand.