COMMERCIAL.

New Zealand Mail, Issue 1318, 3 June 1897, Page 7

COMMERCIAL.

FINANCE AND TRADE.

New Zealand Mail Office, Tuesday afternoon. - Some days ago this journal acknowledged receipt of a circular from tho Agricultural • Organising Agency, Limited, London, in which were set forth the arrangements being made to popularise colonial products. Its exhaustive statements concerning the whole business are now before us, and it is interesting to note that the agency has adopted as its golden rule “ Distribution.” Below will be found some of the particulars which more nearly concern the people at this end who are engaged in farming pursuits. The revival on the Auckland sharemarket, referred to by us in a former article, appears likely to become general. The Northern papers are again furnishing full particulars of tbe progress made at the reefs, and prospects appear to be fairly satisfactory. The former unhealthy excitement is not likely to rocur, and there will bo less of the wildcat in the properties launched upon the market. From enquiries made of the leading commercial and manufacturing firms the reassuring information reaches us that there has not for many years past been such a busy time experienced during a similar poriod. This report, however, does not apply so much to the South, where, unfortunately, there is already a feeling of “ flatness.” However, there is every prospect of good prices being maintained for grain and other produce, tho former having hardened considerably, with an upward tendency. In view of the scarcity in Australia, it is believed that stock and produce will still further advance. The Imperial Bank of Russia publishes bimonthly returns, and these are printed in all the leading London and Continental financial journals, ©ther States publish similar returns, hence there is little difficulty in arriving at a fairly accurate conclusion as to what the holdings are. The Russian Government has recently issued an official document, which shows the total holdings of the Imperial Bank of Russia on the Ist January, which are as follow :

Gold Roubles. Russian bars ; 91,778,025 Foreign bars 113,637,095 Mint —Certificates... 73,959,434 Russian old gold coin ... ... 165,752.015 Russian new gold coin 94,732,423 German crowns ... 29,980,955 Sovereigns... 40,763,855 Twenty franc pieces 10,899,6u2 Turkish pounds ... ... ... 2,719,553 American eagles ... ... ... 80,005,805 Yen 1,977,639 Chilian condors ... 1,037,083 Alphonses d’or ... 2,705,508 Sundries 2,704,516 Total «... 721,684,039 Gold in the Mint and abroad ... 88,343,000 Foreign bank notes ... ... 2,923,478

Grand total ... 812,950,517 It is claimed that this is the largest amount ever held by any bank in the world, being equal to .£130,000,000 sterling. In addition it is estimated that gold coin to the extent of is in circulation in the Russian empire, thus bringing the gross total up to .£132,600,000. The United Kingdom’s stock of gold, which includes private hoardings, is estimated by the first authority on the subject at £1145,000,000, whilst Franco heads the list with .£172,000,000. These figures are all absolutely reliable, being computed by the leading Continental financial experts.

THE ENGLISH MONEY MARKET. London, May 23. The Bank of England returns published to-day show the total reserve to be £226,152,000 (<£142,000 less than last week), th 9 proportion of reserve to liabilities being 51‘54. Three months’ bills are discounted at 1 5-16 per cent. —the same rate as last week. The following are the latost quotations for Government securities: —

*lnterest payable in May and November, flnterest payable in January and July, j Interest payable in April and October.

TURKISH AND EGYPTIAN POUNDS. Some little confusion is caused by the expressions Turkish pounds (1? £) and Egyptian pounds (E £) in references to the standard of value of each country. The Mint relations between English, Turkish and t gyptian pounds are, therefore, stated as follows : Sterling. English pound for sovereign) ... £1 0 0 Turkish pound (Medjidie) ... iO 18 083 Egyptian pound 1 0 3’79 The weights in French grammes (the best standard) are as follows : Grammes. Fineness. £ Sterling ... = 7 9SS £ Turkish ... = 7 21C .'o’n-n £ Egyptian ... = B'soo ’8,700 The sum of 10,000,000 Turkish pounds mentioned as the indemnity demanded from Greece is equal to £9,033,563.

THE UNITED STATES TARIFF. Notwithstanding the fact that the Woolgrowers’ Association of America has stated it as its firm opinion that the Dingley Tariff does not go far enough in their direction, it has been shown, after careful calculation, that nearly .£22,400,000 is added to the burden of consumers. And it is alleged that this is necessary in the interests ot the revenue. Following are the items of the increase, as shown by Mr Dingley, chairman of the Ways and Means Committee :

Chemicals ono’nnn Crockery and glassware Metals 800,000 Wood 350,000 Suuar 4,350,000 Tobacco' ::: MOO,OOO Agricultural products 1 >260,000 Liquors Cotton goods ... ... ... ••• 310,000 Flax, hemp, and jute and manufacturßS of ... ... ••• ••• 1,560,000 Wool and manufactures of ... 8,900,000 Silk and silk goods 306,000 Pulp and paper IAUOO Sundries ... ••• 1,240,000

.£22,372,000 This means something very important. The total value of imports to the United States m the year ended Juno 30th, 1896, _ was .£151,940,000, and on this duty was levied to the amount of £31,221,000. If the new duties are expected to yield an additional £22,372,000 on the same volume of trade, it means that an increase of taxation by upwards of 70 per cent, is proposed; and whereas under the existing tariff the duties average about 23£ per cent, of the total value of imports, under the proposed duties the tax would average 35J per cent.

ADULTERATED BUTTER. A short time ago the London Boards of Trade requested the Board of Customs to instruct their analysts to make tests of imported butter, with a view to discovering, if possible, the countries of origin of the adulterated butter which so frequently gets poor little London tradesmen into trouble. The Customs officials readily entered upon the task, and found that the Germans and the Dutch were by far the worst offenders. Out of 220 samples from Holland no less than 55 were adulterated. . But the German percentage came out even worse, for of 125 samples analysed 37 were found to be “doctored, thus confirming the suspicions which have for some time past been gathering round tho operations of the Hamburg butter factories. Russia, Denmark and JNorway wore also placed on the black list, but the examination left the reputation of the other countries exporting to England untarnished. The Colonies proved absolutely honest, though Canada wiua subjected to 39 tests, Australia to 53 and Hew" Zealand to 18 • for some time past pertain ilf-advised people have been attempting to impugn tbe purity of Australasian butters, this certificate of character from the Board of Customs analyst should be unsparingly uaed by the Agep.ts-Gfinpral of the colonies interested in the butter trade with iihe Old Country.

NEW ZEALAND MUTTON. The following, from the London correspondent of the Dunedin Evening Star, might have been written after perusal of the open letter addressed to the Hon R. d. Seddon, as Premier—per favour of the UW Times —by Mr J* J* Baguall, of i eilding : London is undoubtedly a splendid market for colonial produce, but it has its drawbacks. For some years past Messrs hitter and Co., t of Leadenhall M»rket, and Mr John Rose, of divers addresses, and others have been freely advertising themselves as purveyors of New Zcaluud mutton and lamb. Personally I meet their advertisements at every turn, and their delivery carts wherever T go, but apparently they will have to advise on a Pears’ soap scale before they have made themselves and their wares .generally known'to the public lam moved to .these remarks because very frequently of Sate people have written to the AgentGcperal asking where they can get, New Zealand mutton in London. Iwo of the latest inquirers were journalists ot standing, peoole who, one would have thought, must have heard of Fitters or Rose in the course of their business peregrinations. 1 hat they have not done so is, of course, due to the stress of advertising competition m the metropolis. To make a firm or article really known in London at the present day necessitates a vast expenditure in advertisement. Not only is this expenditure necessary when opening a trade or introducing a new article, but it must bo kept up year after year. Advertising, indeed, has nowadays to bo .reckoned with by the business nian } so to £j>eak, a “ maintenance charge#

THE ORGANISING AGENCY. Apropos to what the London correspondent states might be considered the claims of the above of its claims to attention the managing director, Mr Tallerman, writes : —The Company will carry on its business from its own extensive premises in the Millwall Dock, in conjunction with an organised staff of substantial sub-agent 3, selected from the _ most influential retail traders of every district throughout the United Kingdom, each of whom will be supplied with the particular goods his customer 8 require, upon conditions that will enable them to secure an extensive and profitable local trade. The roasting -joints of both beef and mutton will be sold as fresh meats, after being properly thawed ; they will be packed and delivered iu accordance with the instructions of local agents, either to their stores or direct to their customers. The bo ling joints ol both will j?e prepared ready for consumption by being dressed in the numerous forms in wlrcli they command a ready saleatincreasedvalucs. being made up for display as appetising show goods The Company commands the experience and special facilities to enable it to prepare and dispose of an unlimited quantity of the boil- f ing joints of bcth beef and mutton at good | prices, and its efforts will be directed to popularising New Zealand and Australian meats with the industrial classes throughout the United Kingdom, in order to create a preferential demand for them as against foreign meats. Owners of live stock and meat preserving companies of Australia and New Zealand may take an active part in the establishment of this Company by instructing their agents to place a portion of their J beef or mutton consignments with the Company for sale on their account, and to capitalise one half of the proceeds in the shares of the Company. This Comp my will assist in developing the colonial meat trade upon a solid and profitable basis. A staff of 500 active agents can bo organised within a few months, and estimating the average weekly sales of. each at the small quantity of 10 saddles, 20 legs and 20 shoulders of mutton, they would absorb 5000 sheep per week, or 260,000 per annum, a number that would largely relieve the London meat market and improve the prices ruling there. The Agency holds that by following out its proposals an increase over ordinary current rates will be secured of from 30 j t > 4 ’s upon each carcase of beef, and from 2s 6d to 3s Cd upon each sheep.

THE PRODUCTION OF WOOL. The annual production of %vool in New Zealand and the increase can bn best estimated by taking the exports for the twelve months immediately preceding _ the commencement of shearing, and adding thereto the quantity used in the colony for manufacturing purposes. The following shows the produce for each of the last ten year 3 ending with the 30th of September :

WOOL, GRAIN, MEAT, &c. The firm tone at the London wool sales, prices being at the highest levels of the series, is so tar satisfactory. Though it is impossible to forecast the future of the market, the expected early close of the war, the continued activity of the general trade of the mother country, and the probable shortage of the wool clip in Australia and Argentina this year are all factors favourable to a higher range of prices. London, May 28. Hemp and frozen meat markets are unchanged. The English whoat market is quiet and inclined to weakness, the Continental is declining, and the American is dull. Californian No. 1 milling, 31s Gd o.i f. p?r 5001 b ; Russian cargoes (Gh'rka), 28s Gd o.i.f. per 4921 b; London quotation for No. 1 hard Duluth, 33s per 4801 b. Colonial oats, fine, 265; common, 22s ; beans, 335. Rabbits, colonial, are fl it, 81d ; Victorian ducks, 2s Gd to 3s ; chickens, 3s to 33 Gd. The Bradford wool market is depressed. Sugar—German beot, 88 leg, 8s IO.Vd per cwt; Java cane, No. 15 D.S., 10s 10£d per cwt. 1 Pig iron, Glasgow warrants, No. 1,4 is 7£d perlton f.o.b. in Clydo. S 2Silver, 2s 3|d per oz. London, May 29. At the sale of sheepskins competition was fair. Long-woolled classes sold at par to £d advance, and short shorn at from par to id deoline, Nifier, May 29. Messrs Nelson Bros, have received tho following cable message from their London office : —Since last report there has been a further decline in prices for North Island mutton. To-day’s quotations are— Bo3t Canterbury, 3£d ; Dunedin, 3d ; Napier and North Island, 2jd.

WHEAT FROM NEW YORK. Perhaps the strongest fact which points to the presence of drought in any country, pays tho Sydney Morning [Jerald of May 24th, is tho extremes which have to bo resortod to to feed the inhabitants, and were a protective tariff in force in New South Wales on breadr stuffs it would result in an expensive fourpound loaf just now, if one may judgo from the distance from Sydney of the countries in which the whoat now boing consumed is grown or the flour manufactured. An illustration of this is brought out in the oasp of tho cargo of tho ship Philomene. This vessel came in on Saturday from New York having as part of her cargo nearly 12,000 bags of wheat. The voyage was performed in 100 days, quite as long (longer in fact) as had the same article been brought from Great Britain. Tho same thing has occurred as to flour. The wheat grown in the north-western provinces of Canada, in Manitoba, reaches the Sydney consumer in the form of readymilled flour, after being railed to Vancouver, loaded into stoamers bound to Japan, discharged there and loaded into steamers for Sydney. The number of handlings it undergoes and the thousands of miles the'material from which the morning loaf is made have travelled are almost bOWiklsHhg UndOl’ these eircuuisfca 8998,

AUSTRALIAN PRODUCE MARKETS. The following, from the Sydney Daily Telsgravh will be of interest to producers iu this colony : Produce values continue to advance by leaps and bounds, and last week saw the most general and extensive upward movement in prices for feed stuffs that has taken place during the present boom. The markets were more excited fchati ever, and it is difficult to conjecture what the result will be if rain does not fall immediately, as each day brings developments which were quite unexpected on the previous one. It is now generally conceded, too, that a general fall of rain would only have the effect of checking any further advance. The effect of the drought on produce values is best illustrated by the subjoined table, comparing the present prices current with those of a fortnight ago, and giving the percentage advance :

THE BRITISH AND COLONIAL LINE. '

Particulars of the sixth ordinary general meeting of the British and Colonial bt.eam NavigationCompauy.ropresentedin Sydney by Messrs Dangar, Gedye and Co., as managing agents, were recently received by n ail. The meeting was held on the 9th ultimo at the Leaden hall - street head offices of the company. The chairman of the company, Mr H. C. Buclcriall, referring to the Australian business, said that, although rot perhaps on the remunerative level they would like to see it, it had helped the company to some extent during the past season, tlio assistance in this connection being to no small extent due to the agents which the company had in that colony. These agents, in the opinion of the directors, were second to none in. their ability to handle Australian freight business, and it left the directors with no doubt whatovor that this company would always share not unfavourably in comparison with its neighbours in whatever business might be doing there. The usual dividends of 6£ per cent, on preference shares and 6 per cent, on ordinary shares wore declared.

RECORD WEEK’S SHIPMENT OF COAL. For the week ended May 22nd another record in the exportation of coal from Newcastle was established, the quantity totalling no less than 67,278 tons, exceeding the previous record attained a few weeks ago by 3000 tons. The distribution was as follows Victoria, 16,000 tons ; United States, 5892 tons ; Hongkong, 3700 tons ; New Zealand, 1472 tons ; South Australia, 12,640 tons ; Chili, 8880 tons ; Western Australia, 1750 tons ; Singapore, 2500 tons ; India, 3000 tons ; Manila, 5635 tons ; Fiji, 2409 tons ; Tasmania, 850 tons; Paiama, 2550 tons. Total, 67,273 tons.

WELLINGTON MARKETS. Messrs Laeky & Co. report current wholesale values as under : Hay and Corn Market,

THE AUCKLAND SHARE MARKET

Apropos to tho statement already made in this column, and of tho opinion given concerning the present revival, the Miner says:—“The present state of-the Auckland share market should be a source of congratulation to both Investors and speculators. We do not moan by such a statement that a boom, or oven a boomlet, is to bo anticipated What we mean is that the period of depression from which we have suffered for so many months has virtually passed, and better times haye been inaugurated. As we have said before, we believe that the primary cause of the depression wa3 over-flotation and lack of development. The market both here and in London was glutted with utterly urn developed properties. Foreign capitalists naturally became shv, and, whatever they may have thought of the richness of our fields, refused to purchase unless they oould see something actual in return for their money. Right on top of this came the rumours of war which unsettled tho London market, and from which we naturally suffered severely here, a perfect slump set in, and somo of tho pessimists commenced to say that the bottom of the mining industry in New Zealand had fallen out. Never was there a falser statement, as has been subsequently prQY9d. The lesson was a hard one, but

it was one that had to be learned, and our mine owners, be it said to their credit, were quick to appreciate its import and set to work to recover themselves. _The result is known to everyone who has followed the course'of l.he mining industry in New Zealand —a steady and systematic development was at commenced and energetically carried out. The reward has come quickly, even more quickly than was anticipated. The richness of our fields, and the practically inexhaustible wealth of our resources, has beeudemon-sti-ated. We had our boom, and little good it did us. Most men who have looked into the matter carefully d -n't want to see another ; but we do want to see a lively market, built upon the firm basis of mines, with proved resources, and tangible outputs. We have our chance now. Don’t let us spoil it again by paper properties.”

THE LOCAL SHARE MARKET. The Wellington Stock and Sharebrokers’ Association reports on the share market as follows :

Members of the Assoeiaticn : A. T. Bate R. W. Ivirkby E. Bucholz R. Leary R. Gardner D. T. Stuart (Chairman) Harcourt & Co. A. G. Taine & Co. James Henderson L. H. B. Wilson

THE TRADE OF CANTERBURY. Christchurch, May 28

At the quarterly meeting of the Chamber of Commerce to-day the actingpresident, Mr E. W. Roper, spoke against the increased telephone rates. He stated that in the trade of Lyttelton in the first quarter of this year there had been a decrease of £35,585 in the exports, and an increase of .£61,139 in the imports, compared with the corresponding quarter of last year. The falling off in exports was owing to the decrease in the shipments of wool, amounting to 1,993,1271 b, valued at .£45,442. This apparent shortage was not owing to any diminution in the wool supply, but to the fact that the growers, iu view of the possibility of a change in the American tariff, hurried off their shipments during the months of November and December. He stated that in the Christchurch factory district 1300 more people were employed in the same industries than in May, 1896.

THE N.Z.L. AND M.A. CO.’S REPORT. The New Zealand Loan and Mercantile Agency Company, Limited, report for the week ending 28th inst. as follows : Wool.—During the week advices from London have been more hopeful, though, of course, there is still room for improvement. The whole senes just closed has been characterised by the irregularity of the bidding, the result, no doubt, of the lack of competition on the part of American operators, and to a certain extent owing to the unsettled state of affairs which prevailed in Eastern matters during the present month. As there would seem to be some prospect of definite settlement of the Eastern trouble at an early date, it may with reason be anticipated that trade in the f manufacturing districts will assume a better tone. Indeed, cable advices received within the past few days indicate that an improvement has already taken place. Locally the market is very firm, and all parcels coming to hand .meet with keen competition. At our fortnightly sale to-day we offe-ed a small catalogue of oddments, which realised as follows: Crutchings, 3Jd to 4Jd ; mixed pieces, fl.fd to 4d; locks, Id to 2d per lb. „ .' Sheepskins.—Our catalogue at to-day s sale consisted of about 1150 skins, representing all descriptions. The attendance of buyers was good and competition active, every lot being cleared under the hammer. Taking quality into consideration we are inolinod to believe that prices were a shade firmer than they were a fortnight ago. The following range of prices,was obtained: —Three-quarter woollad crossbred sound pelts, 4:]d to 5d ; medium to good lialf-woolled, 3j£d to4£d; pelts and quarterwoolled, 2Jd to 3id. For a specially good line of lambs CJd per lb was realised. . Hides.—There is still a fair demand for all classes. Prime heavy ox are in particularly short supply. We have no change in prices to [quote, consequently we repeat last week’s quotations : Heavy ox, well flayed, 3Jd; medium, 3d to 3}d ; cowhides, 24d ; calfskins, 3d per lb. , „ , . I Tallow. —Thc London cables received advise a jjrmer market, with an advance of. 5s per.ton for fine beef. Local transactions are limited in consequence of the small supply offering. We quote : Good mixed, 14s to 14s 3d ; inferior, 11s to 12s. . Wheat.—There is a full supply offering, with a firm market. Wc have no change in values to record. Whole feed is worth to-day 3s lid to Is per bushel, ex store, sacks extra. Qntg.—The local demand is fairly active, but prices are relatively lower {.hair those ruling South, We have to report the sal,; of a };r.o of p-imo brignt gtout feed at 2's 7d per bushel, sacks welghod in, ex store. -'For prime Tartarians, suitable for seed, we quote 2s 9d to 2s lOd; seed Duns, 2s 8d to 2s 9d, ex St Qhaff,—Southern advices indicate a shortness of supply. As tlm quantity of prime bright feed offerin" locally is limited, prices arc very firm ad; 85s to 90s per ton, ex wharf, sacks extra, or returnable. Following is a copy of the London market cable received by the New Zealand Loan and IVXeicantile Ageqcy Company (Limitod)yostovday;—TaUov/ Market firmer. Fipo beef tallow has advanced 3d per cwt since last report.

WOOL AND SltlN SALES. Murray, Roberts and Co. report as follows : There was a strong muster of buyers at our sale to.day (Friday), when we offered a good catalogue of sheepskins and wool. We aro pleased to be able to report a keen demand for all olassesof skins, and especially for well-saved crossbreds, which are gradually improving in value with the growth of the wool. Other descriptions ruled firm at late rates. The wool offered to-day consisted chiefly of scouring lots, such as crutchings and stragglers fleeces, which we had no difficulty in plaoing at satisfactory priaes. The following is the range of values current to-day:— Skins. Well saved half to three-quarter WOOlled, 4sd to 5d per lb) very prime do., a sbado

higher; torn and inferior do., Id lower; full: woolled merinos (heavy),- 4d to 4£d; late shorn crossbred pelts (sound), Id to Is 8d each ; shortwoolled merino pelts, 9J to Is 4d each. Wool. —Crutohings, 3|l to 4d ; clean well picks 1 are worth £d more; stragglers’ fleece wool, up to GJ; lambs, seedy and inferior, 5d to 5Jd; scoured locks and pieces, 6_id to 7d. These sales are now well established, and are strongly supported by the loeal trade. As little scouring is done in the winter months fellmonger3 rely more on a supply of skins to keep their works going, and there is consequently a large outlet iu this market for such produce.

STOCK SALES. Messrs Freeman R. Jackson and Co.’s Wanganui stock report is-as follows: —The sheep entered for the sale on Wednesday were generally»of good quality. Mr McKain’s were a really fine lot, and much admired, but he did not succeed in placing all of them, the price offered not being up to the owner’s idea of their value. All other sheep sold at advanced rates. Only a few cattle were yarded, and we disposed of them at late values. Pigs were in small supply. Cattle—Milch cows, £2 7s 6d to £3 ; weaners, 21s fid to 28s' fid ; calves, 13s. Sheep— Mr McKain’s two-tooth ewes made 20s each; fat wethers, 9s 7d to 10s 2d; stores, 8s sd; fat ewes, 7s fid to 8s fid; ewes in lamb, 4s 8d to 7s id ; lambs, ss. Pigs—Good pork, lfis to 21s fid ; others, 11s fid. Poultry—Fowls, Is 9d to 2s fid; ducks, 2s to 3s ; turkeys, 6'* to 9s; geese, 3s to 4s 6d the couple. Messrs Lowes and Irons report that at their fortnightly stock sale entries in sheep embraced all classes, although the quality generally was not up to that of last sale. No prime fat sheep were offered, the entries in this class being light wethers and medium weight ewes. In stores they penned some strong forward and store wethers, these all making good values. For all forward ewes, good class breeding ewes and strong lambs bidding was keen, but for inferior ewes and weak lambs there was little competition. Beef was in full supply, good quality selling freely, rough sorts dragging somewhat; however, a clearance was made. In stores they had a large entry in young cattle. In these the latter quality sold, while poor sorts and inferior bred met with little demand. Light fat wethers and ewes made 9s fid and Gs respectively ; forward wethers, 9s 4d; stores, 8s fid to 9s 2d ; forward ewes, 5s fid to 5s 9d ; breeding ewes, host, 5s 9J to Gs fid; others, 4s 9d to 4s; lambs, medium, ss. Fat bullocks —Best, 100 s ; medium and light, 90s to 80s. Fat cows and heifers, 00s to 80s; store steers, 50s; yearlings, 30s. Calves —Best, 21s; others, 12s fid to 15s. Dairy cows and heifers near calving, 80s to 119 s. Large pigs, 25s ; slips, 12s Jsd ; weaners, 5s 6d.

Sydney,‘May 2G. Wheat —Chick, 3s 3d to 3s Gd ; milling, 4s 6d to 4s Gja. Flour—Californian, .£lO 10s to £11; local, £l2 to £l2 10s. Oats—Local, 2s. 5d to 2s CM; New Zealand, prime, 2s Gd to 2s 7d; medium, 2s 4d to 2s sd. Maize, 2s 9d to 2s lOd, Barley—Cape, 3s 3d to 3s 4d. Peas —Prussian blue, 4s 9d to ss. Bran, Is Id; pollard, Is ; potatoes, £3 15s. Onions—Victorian, £6 10s to £6 15s ; New Zealand, £7 10s to £B. Butter—New Zealand factory, Is; local, Is Id to Is 2d. Cheese —Prime loaf, sd. Bacon, 5d to Gd. New Zealand hams, 9d. Melbourne, May 2G. Wheat—Fair business, 5s lid to 6s Id. Oats— Algerian, 2s Gld to 2s 9d ; stout white, 2s 8d to 2s 9d. Maize," 3s 2d to 3s 3d. Barley—Cape, 3s Id. Bran, Is 2d to Is 3d ; pollard, Is Id ; potatoes, £2 <• 10s to £2 17s fid; onions, £6. Adelaide, May 26. Wheat —Inactive, 5s 5d to 5s fid. Flour, £l3 ss. Oats—Dun, 3s ; Algerian and stout white, 8s fid to 3s Bd. Barley—Cape, 3s 9d to 4s 3d; malting, 4s Gd to 5s 3d. Bran and pollard, Is Gd. Paris, May 25. The estimates of the French wheat crop make the yield 22,250,000 hectolitres below the harvest of - 1890. London, May 26. The total quantity of wheat and flour afloat for the United Kingdom is 1,510 000 quarters, and for the Continent 88,000 quarters. The prices of tallow are unchanged. The American visible wheat supply is estimated at 39,987,000 bushels. Foochow, May 26. The arrivals of new orop tea to date amount to 40,000 original half-cliests. The crop is b jtter than last year’s as regards quality, but is reported to be 20 per cent, less in quantity. The market is expected to open at an early date. Hongkong, May 30. The Foo Chow tea market has opened. The prices for fine and finest Panyong ranged from 1 to 2 taels lower than last season. Moderate business i 3 doing for London, hut not for the colonies, the rate of freight by the first steamer to the colonies not being settled.

' Price. „Variation as compared with last week. £ s. d. 2iJ% Imperial Consols .. 113 10 0 5/- lower South Wales 122 10 0 10/- higher 8A% New South Wales .. 108 0 0, Unchanged New South Wales 101 15 01 51- higher 4% Victorian 114 5 0 20/- higher 3J% Victorian .. | . 108 10 0 20/- higher 4% South Australian • .. 113 5 OUnchanged 8J% South Australian 113 0 0, Unchanged 8% South Australian — — Queensland 115 0 0 10/- higher 8£% Queensland .. 103 0 010/- higher 4% New Zealand* 114 10 0 Unchanged 85% New Zealandt ■*■... 107 10 010/- higher 8% New Zealandt 100 0 0 Unchanged 8j% West Australian 108 0 0 Unchanged 8% West Australian — 1 — 8J% Tasmania 109 0 O^Unchanged

Year ending 30th Sept. Quantity exported. Quantity purchased by local mills. T’l annual produce. lb lb lb 1887 .. 95,914,181 2,001,155 97,915,336 1888 .. 89,276,208 4,079,563 93,355,831 1889 .. 95,618,507 3,556,004 99,174,511 1890 .. 102,522,185 2,979,293 105,501,478 1891 .. 108,619,473 2,918,073 111,537,546 1892 .. 110,860,050 3,388,954 114,249,004 1893 .. 119,643,874 2,629,855 122,273,729 1891 .. 128,480,457 2,476,155 130,956,612 1895 .. 129,333,769 3,299,132 132,632,901 1890 .. 128,309,673 3,989,934 132,299,607

1 ] Present Prices. Prices on May 3rd. Advance per cent. 1 £ s. d. £ s. d. Chaff, ton .. . . . • 6 5 0 5 0 0 25.0 Oaten hay, ten .. .. 0 0 0 4 10 0 33.3 Lucerne hay, ton .. 5 0 0 3 12 G 37.9 Straw, ton. . .. .. 3 5 0 2 5 0 41.4 Maize, bushel .. .. 1 0 2 8 0 2 5 10.3 Oats, bushel .. .. ! 0 2 G* 0 2 5 5.1 Barley, bushel .. .. 0 3 tt 0 3 2 10.5 Chickwheat, bushel .. ■ 0 3 6 0 3 3 7.0 Bran, bushel .. .. 1 0 1 0} 0 0 10 25.0 Pollard, bushel .. .. 0 1 0 0 0 10* 14.2 Butter, lb 0 1 2 0 1 1 7.G Cheese, lb. .. . •' 0 0 5 0 t) 4 V 11.1 Eggs, dozen .. .. 1 0 1 G 0 1 1 12.5

£ s. D. £ s. D. Feed barley 0 2 9 Maize ... 0 3 0 Oats, feed . ... 0 2 7 Wheat, milling 0 4 4 Fowl Wheat ... 0 4 1 Rye Corn 0 3 6 Seed Barley 0 3 9 Hay, ton 4 10 0 Oaten, ton 4 0 0 Straw, ton 2 10 0 Chaff, oaten sheaf ... 4 10 0 Wheat, straw 2 10 0 Beans ... 0 3 3 Onions ... 6 10 0 Peas (blue) 0 4 9 Roller flour 11 0 0 Pollard... 4 7 6 Oatmeal 13 0 0 Bran 4 0 0 Capo Barley ... 0 3 2 Swedes ... 2 5 0 Carrots 1 10 0 Potatoes. Potatoes, round 3 10 0 Kidneys 3 10 0 Seeds. Ryegrass, Farmers’ lots Ryegrass, Machine 0 2 9 to 0 3 42 G dressed 0 4 0 to 0 4 Cocksfoot, lb 0 0 34 to 0 0 41 Farm and Dairst Produce. Milk, quart 0 0 3 Butter, fresh farm, lb 0 0 4 to 0 0 Butter, separator 0 0 8 to 0 0 10 Salt butter 0 0 7 Cheese 0 0 4 to 0 0 Loaf 0 0 42 Eggs, dozen (fresh) ... Eggs (limed) 0 1 10 0 1 2 Bacon, lb 0 0 Ham, lb 0 0 7 Fowls, pair p 2 G Bucks, pair ... .!. 0 3 0 Geese, pair 0 4 G 6 Turkeys, pair 0 6 0 to 7 0

$ BUSINESS SELLERS BUYERS LOCAL. £ s. d. £ s. d. £ s. d. Wellington Woollen, £4 paid 4 10 4 2 6 4 10 Wellington Woollen, i „ _ £1 10s paid 17 6 18 0 — Wellington Gas, -£10 paid.. — 18 10 0 — Wellington Gas, £5 paid . . — 9 5 0 — Trust and Loan — — G 10 0 Equitable Building and Investment .. 7 10 0 — — Manawatu Railway — 12 6 — Gear Meat, .£4 paid . — G 7 G Wellington Meat Exnort, £5 paid — 5 2 0 5 0 0 Wellington Meat Export, £4 paid — 4 0 0 — Wellington Meat Export, £212s Gd paid — 2 12 6 2 10 0 N.Z. Candle Co. 12 15 0 13 10 0 — BANKS. " National — — 1 IS G INSURANCE. South British — 2 G 0 — GAS. Christchurch,£5 paid — — 9 12 6 Christchurch, £2 10s paid . . — — 4 16 3 Napier — — 19 0 0 Palmerston North . . -r— — 3 12 6 Gisborne 1 15 6 — — Greymouth .. — — 8 2 6 MISCELLANEOUS. Nat. Mort. & A. .. — 0 13 4 — Kaiapoi Woollen .. — 6 0 0 —