SHIPPING AND COMMERCIAL.

New Zealand Mail, Issue 785, 18 March 1887, Page 26

SHIPPING AND COMMERCIAL.

By Electric Telegraph.—Copyright, reuter’s telegrams.) London, March 10. Consols remain at The Bank of England weekly returns show the total reserve in notes and bullion to be L 15,900,000, an increase 0fL600,000 during the week. The proportion of the reserve to liabilities is 49 per cent. The bank rate of discount has been reduced to 3i per cent, and is now £ above the market rale. New Zealand securities. —5 per cent 10-40 loan remaius at 100|, and 4 per cent inscribed stock at L 96. Colonial breadstuffa and tallow are unchanged. The Australian and New Zealand mails, which left Auckland on January 31, were delivered to-day, via San Francisco.

The Bank of Australasia has declared a dividend at the rate of 12|per cent per annum, and carries forward and places to reserve £23.000. Sydney, March 11. The U.S.S. Tekapo sailed to-day ftom Newcastle for Lyttelton. Melbourne, -March 11. The business of Messrs James McEwen and Co., ironmongers, of Melbourne, is being floated as a limited liability company on the London market. London, March 11. Consols and New Zealand securities are unchanged. Adelaide wheat remains at 37s for new crop ; Adelaide flour, 265; New Zealand wheat, ex store, remains at 33s to 37s 6d, according to quality. The total quantity ol wheat afloat for the United Kingdom is 1,850,000 quarters, an increase of 90,000 during the week. Australian tallow is unchanged. New Zealand frozen mutton, prime quality, is selling at 4-|-d. The dividend declared by the Bank of Australasia is 15, and not per cent as previously telegraphed. Sydney, March 12. New Zealand wheat, 3s 8d to 3s lid; New Zealand oats, 2s to 2s 3d ; maize, 3s to 4s: sugar, £25 10s. Arrived —Union Company’s ss Te Anau. Melbourne, March 12. Arrived —P. and O. steamship Valotta, from London. London, March 12. The New Zealand Shipping Company’s ss Aorangi left Plymouth this afternoon for Wellington, via Capetown and Hobart. Sydney, March 14. Arrived —Mariposa, from Auckland. Adelaide, March 14. The Orient s.s. Ormuz, with outward mails from London (July 11), arrived to-day. London, March 14.

Consols have advanced i, and are now at 101 - The market rate, of discount has advanced to 2f-, being now li below the Bank rate. New Zealand securities :—5 per cent 10-40 loan is quoted at IOOf, ex div., being an advance of ; 4 per cent inscribed stock has further advanced £l, and is how at £97. Colonial Breadstuff’s. Adelaide wheat, ex store, 37s ; New Zealand, 33s to 37s 6d; Adelaide flour, 265. Tallow. —Australian, average quality, beef, 24s 6d ; mutton, 295. The P. and O. steamship Sutlej has arrived at Plymouth from Sydney. Sydney, March 15. The Union Company’s s.s. Hauroto sailed this afternoon for Wellington. (SPECIAL TO UNITED PRESS ASSOCIATION.) London, March 12. Sixteen hundred bags of Queensland sugar have been sold at prices ranging from 9s 6d to 13s. Two-thirds of the meat by the Austral is damaged, which is attributed by salesmen to a temporary stoppage of the refrigerator; the sound portion is realising 4d. Wheat market is subdued, owing to slackening demand. Floating supplies

have increased. On spot, Australian is firm at 38s ; for cargoes for London and the Continent 36s is asked ; three cargoes have been sold in London from 35s to 35s 6d. Flour has recovered 6d. London, March 14. Shares in the Bank ol South Australia are selling at £27.