COMMERCIAL.

New Zealand Herald, Volume XLVIII, Issue 14746, 31 July 1911, Page 5

COMMERCIAL.

NEW ZEALAND OUTLOOK.

V NEED FOR CAUTION.

-[from our own CORRESPONDENT.] v; London, June 21. According to tho Financial Times "It is no new thing for the board of the Bank of New Zealand to sound a nolo of warning at a time when those less closely lin touch with the Dominion are inclined to regard tho outlook with unqualified optimism. On previous occasions such utterances have been justified by subsequent events, and considerable importance attaches, therefore, to the advice tendered to the business community by tho chairman at tho annual meeting held at Wellington tho other clay, to pursue a policy of caution. There are, it appears, signs of approaching financial stringency," and while no one supposes that any serious trouble is impending it is advisable that HO unnecessary commitments should bo entered upon until the outlook has become a little more clear. The lack of proportion between the outgoing and incoming trade of New Zealand is tho particular matter to which bankers are giving their attention, tho volume of exports being comparatively small, while imports are on a record scale."

BUTTER. AND EGGS. The wholesale quotations for butter and etrgs for the week ending August 5, ato as follows:—Butter (factory). Is 3£d per lb; (farmers'), lOd per lb. Hen eggs, Is per dozen; duck eggs, lid per doz.

THE LONDON MARKETS. I}r Telegraph.Press Association.—Copyright. > (Received July 30, 5.5 p.m.) -. . • London, July 29. ; • • 'COPRA. Copra is irregular, arid only small, business, is being done. South Sea (bags), £23 15s to £24. " . ■ COTTON. Cotton : July- August shipment, G.49J. RUBBER. Rubber, 4s Bid. ■_ v -JUTE.., ■ ..-"..,-. Jute: Native first mark, August shipment, £20 2s 6d. HEMP. Hemp is quiet and unchanged. RABBITS. : .. Rabbits are quiet and unchanged. SHEEPSKINS. ' ' "

At the sheepskins sales 8000 bundles were catalogued. , There was a small attendance, and there were fairly heavy V withdrawals compared with the June Bales. Merino combings are , practically unchanged, merino fine crossbred clothings and fine crossbred combings were Jd lower, 'and coarse crossbreds were lower. \

The New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from • their London house, under date 26th inst. :—Tallow : We quote present spot values for the following descriptions: —Good mutton, 34s 9d per cwt; good beef, 32s 3d mixed, 30s. • The market is dull. Wheat: Sold a New Zealand parcel at 32s lid c.i.f. The market is firm and crop reports are unfavourable. Market quiet, , but eteady. Market prospects India not likely to improve at present. ~ . .