SHIPPING AND COMMERCIAL.

New Zealand Mail, Issue 780, 11 February 1887, Page 25

SHIPPING AND COMMERCIAL.

By Electric Telegraph.—Copyright, (reuter’s telegrams.) Melbourne, February 3. The Union Company’s s.s. Rotomahana arrived this morning. The New Zealand Loan and Mercantile Agency’s weekly circular says : It is stated, we believe correctly, that shippers of grain and some of the millers have adopted the American pool system, one firm buying for all, thereby avoiding competition. In consequence of this some of the growers are refusing to sell, and are forwarding their grain to Melbourne for storage. Messrs Goldsborough and Co. have sold 80,000 bales of wool in Melbourne and Sydney this season, thus surpassing all previous records. London, February 2. At the wool sales to-day 1150 bales were offered. Prices are firmly maintained. Greasy aud scoured wools are about a penny higher, and crossbreds a halfpenny higher than at the close of last sales. The panic which was manifested on the Bourses at Paris, Berlin, aud Vienna has now subsided. Sydney, February 4. The U.S.S. Co.’s Mararoa tailed this afternoon. Wheat is selling at from 3s 9d to 4s; oats, from 2s 3d to 2s 7d per bushel; maize, 4s 6d per 561 b ; and

Sugar Company’s No. 1 pieces, £25 per ton.

London, February 3. Three per cent. Consols have fallen } per cent., aud are quoted at 99f. New Zealand Government securities remain unchanged. The weekly returns of the Bank of England show the proportion of reserve to liabilities to be 48 per cent. The total reserve in notes and bullion is £13,200,000, or £300,000 more than last week.

At the wool sales to-day, 11,200 bales were offered. A firm and active demand is reported for all classes of wool. The total withdrawals to date amount to 6800 bales.

Hides are in good demand, prices being from £d _to id higher. Rio Janeiro, February 4. The New Zealand Shipping Company’s R.M.S. Aorangi, which left Wellington on January 13, arrived this afternoon, her cargo of frozen mutton being in good condition.

Capetown, February 4. The New Zealand Shipping Company’s R.M.S. Kaikoura, from Plymouth (January 13), sailed this afternoon.

Adelaide, February 5. Wheat is Belling at 3s lOd ; flour, town brands, £lO 10s; country brands, £9 ss.

London, February 4. Three per cent Consols, 99J ; New Zealand 5 per cent 10-40 loan is 5s higher, 102 ; New Zealand 4 per cent inscribed stock is 10s lower, 94. The total quantity of wheat afloat for the United Kingdom is 2,020,000 quarters, or 300,000 quarters more than last week. Colonial breadstuff's are without quotable change. New Zealand mutton is selling at 4|d per lb. Scotch pig iron is Is lower, 465. Galvanised iron, £ls. Tbe wool market continues firm. At the Colonial wool sales to-day, 13,900 bales were offered. The Orient steamer Lusitania, from Melbourne, December 24, arrived in London to-day. London, February 7. Arrived Ship Lutterworth, from Auckland.

Consols have risen f, IOOf. New Zealand Government securities remain unchanged. At the wool sales to-day 11,200 bales were offered. The market continues firm. The mails per Peninsular and Orient R.M.S. Rome, from Melbourne (December 30), were delivered in London to-day, via Brindisi. Melbourne, Febuary 8. The. Union Company’s s.s. Rotomahana sailed this afternoon. The Manager of the National Mortgage and Agency Company of New Zealand reports as follows of the local market : Wheat is rather weaker, 3s lOd ; barley is in fair demand at from 3s 9d to 4s 4d. New Zealand oats—Feed sorts, quieter, but steady at from 2s lOd to 3s; milling sorts, for whieh there is moderate inquiry, are selling from 3s to 3s Id ; New Zealand oats, under bond, 2s Id to 2s 3d.

(special to united press ASSOCIATION.)

London, February 3. The Directors of the Bank of South Australia intend to withdraw a portion of the reserve fund in April. The Canadian and Elektron Mining Company, Queensland, intend to increase their capital by L20 > 000. London, February 5. The wheat market is quiet, and there have been large arrivals. The Home market is depressed. English has declined Is during the week, and foreign 6d. Australian wheat cargoes on the spot are quoted at 38s. There have been no sales of the new crop. Wool shows a diminished spirit, owing to the war rumors. German and French buyers are more cautious, but the American are buying freely. Crossbreds are *ery firm. The number of bales catalogued is -137,000, of which 8500 have been withdrawn. The North Cornish Mining Company, Queensland, is forming with a capital of £150,000. Allsopp’s Brewing Companyhasbeen covered thirty times.