COMMERCIAL.

New Zealand Mail, Issue 1367, 12 May 1898, Page 6

COMMERCIAL.

The New Zealand Loan and Mercantile Agency Company received the following cable from their London house yesterday week :—Wool—The sales opened to-day, prices ruling in buyers' favour. Merino, line crossbred, coarse greasy washed and scoured crossbred are par to Jd per lb lower. Competition by both Home and foreign buyers is fairly active, and attendance good. The total quantity available, including wool held over from last series, is 322,000 bales, 76,003 bales of which have been forwarded to the manufacturing districts direot. Messrs Murray, Roberts and Co. have received the following wool market cablegram from their London house, Messrs Sanderson, Murray and Co, dated 3rd May, 1898:—The third series of wool sales opened to-day. The attendance of buyers was fair, and competition moderate. Market declined •5 per cent. The New Zealand Loan and Mercantile Agency Company, Wellington, have received the following ■cable from theit London House, dated sth inst. : Wheat and flour.—Market has an upward tendency, and New Zealand wheat (pircels) is worth Cif., to arrive, 41s..per 4801 b. Tallow.—There is a good demand. An advance of 3d per cwt since last report. Messrs A. G. Taine and Co. report holding a very Successful sale of the land and stock of the late Mr James Shaw at Manakau, the attendance of neighbouring settlers and also of others from dif#crent parts was very large. The sheep were in Splendid order, and elicited keen competition. The land, comprising 931 acres of good sheep country, was first put up, and after spirited bidding was purchased by Mr Thomas Kennedy at £2IOO ; 4-tooth wethers brought 8s 5d ; 2-tooth do, 6s 9d ; 2-tooth ewes, 6s 6d; a line of 330 4-tooth to f.m. ewes, 6s 2d; hoggets, 4s; full-mouth ewes, 3s sd. The cattle were all sold at an average of 30s per head; calves, 7s 6d; pigs, 14s ; trap, £7 ; harness, £2; and also a large quantity of sundries sold at good prices, the sale on the whole being a great success. MessrslA. G. Taine and Co. report as follows for their weekly horse sale, held at their horse bazaar, Harris street:—A larger entry than usual came forward of some fair to good harness horses, besides a number of vehicles, spring traps, gigs, harness, and saddles and bridles. The sale was rather dull, but we managed to dispose of the greater part of the entry. Good harness horses, young and sound, we can now ordinary sorts, £8 to £l2 ; hacks, at all prices, from £4 to £lO. Draughts are inquired after, and we could find purchasers foe half a dozen superior sorts at and from £25 to £3O, ordinary to £2O. We shall offer shortly, on account Hocken Bros., a truck of first-class harness horses, and advise clients to keep this in mind. An advertisement of same, giving particulars, will shortly appear. Messrs F. R. Jackson and Co.'s Wanganui Btock report is as follows :—At Waverley on Friday stock was largely in excess of advertised numbers. We had a full yard of cattle, For these there was a better demand than of late, though prioes did not advance. We cleared the entry. Sheep sold readily. Store ewes advanced in price, but others were without change- Hind-fed mixed weaners made 8s 6d to 10s ; yearlings, 16s ; 15 to 18 months, 20s ; yearling steers, 19s ; hand-fed weaner steers, 9s 9d ; well-brod 2J-yoar steers, £2 10s; good 2£year steers, £2 5s ; 3-year-old bullocks, £3 to £3 5s ; store cows, good quality, 375; forward cows, £2 7s 6d; store ewes, 2s 9d to 4s Id; woolly lambs, 5s B'. At St. Hill street on Wednesday a good supply of stock came forward. Of grown store cattle the entry was made up of female stook, but there was no demand. Weaners sold fairly briskly. Dairy cattle were required, but those on offer were either too old or heifers in poor condition, so prices were low. For sheep the requirements lay in the direotion for store ewes and wethers fit for topping off rather than for breeders. The former made their value, the latter, we thought (quality considered) went in the buyers' favour, Pigs, in moderate numbers, made late rates, with perhaps an inclination for porkers to bo somewhat easier. We quote:—Cattle—Springing heifors, in poor condition, 35s to £3; mixed weaners, Ss to 12s 6d; poor sorts, ss; forward and store cows, 30s ; store cows, 17s. Sheep-Good breeding cswes, 5s 3d ; culls. 3s 3d; cull empty ewes, 2s 7d to 3s; fat ewes, 7s 5d ; forward ewes, 7s Id ; store ewes, 6s 4d; fat and forward wethers, 8s 6d ; fat wethers, 9s ; 2-tooih wethers, 6s 9d. Pigs -Pork pigs, 14s to 183; smaller, 12s 3d ; small staves, 53 to 7s ; slips, 2s 6d; small baconers, 25s ; lacse baooners, 335. On Saturday we were successful in disposing of Mr Walker's farm on tiro Brunswick at £2 19s per acre, by auction, which, all things considered, was deemed a satisfactory price. The sections in the Mount Desert property were also offered, when two sections were disposed of, a frontage at £IBO and one of those at the back, containing 14j| acres, at j £35 per acre respectively. Since then we have dispossd of another section at £152 10s per acre, the remainder being for private sale at reasonable prioes. We also sold privately the Aramoho section offered the same day. London, May 4. The new series of colonial wool sales opened today. Competition wa3 poor and the market weak. Compared with the closing sales of last series, prices showed a decline of 5 por cent. The decline was most acute in crossbred an:l iuferior merinos. Wheat in the Mark Lane market is a shade quieter, although holders are Ann, At the wool sales Messrs Buxton and Co., Charles Balrae and Co., Jacomb, Son and Co. offered 13,094 bales, half the offerings being New Zealand clips. It was an exoellont selection of all classes.

(The attendance was fair, but no American buyers were present. The bidding wa3 hesitant, with frequent withdrawals. Last week's quotations for New Zealand shares are unaltered. Tallow—Mutton, fine, 23s 9d; medium, 21s Cd ; beef, fine, 22s ; medium, 20s 6d. London, May 5. Wheat is very firm. Foreign is held for an advance of Is Gd. Sales have been checked. London, May 6. Silver is quoted at 2s ljd per oz. At the wool sales to-day the market was stronger. Competition for the best greasy merinos and scoured sorts was weak, and the supplies were largely withdrawn. The kauri gum sale 3 show that prices are unchanged: 1350 cases were offered and 495 sold. Tbe stock consists of 4ii cases. Ijondon, May 8. Mutton.—New Zealand crossbred wethers and maiden ewes Canterbury, Southland, 3p ; North Island, 3 3-16 d. LambPrime Canterbury, 4 1-lOd ; fair average (including Dunedin, Southland, Wellington and secondary Canterbury), 3 3-16 d. River Plate crossbred or merino wethers—Heavy and light, 215-l Gd. Wool had a dragging sale yesterday. There were numerous withdrawals of wasty merinos and crossbreds. Up to date 50,520 bales have been catalogued and 45,786 sold. Sydney, May 4. Wheat—Chiok, 3s to 33 Gel; milling, nominal, 4s 6d and upwards. Flour—Prime, £lllss to £l2 ; Manitoban, £l4 10s. Oats—New Zealand feeding, 2s 4d to 2s Gd; Tartarian seeding, 2s 5d to 2s 9d; local feeding, 2s to 2s 4d. Maize, 2s 6d. Barlev—Cane, 2s 9d to 3s. Peas-Prus-sian Blue, ss. Bran, lOd; pollard, 10Jd. Potatoes —New Zealand, £5 5s to £5 7s 6d; Circular heads, £6 53 to £G 10s. Onions New Zealand, £7 10s to £7 15s. Butter Dairy made, Is ; factory, 13 Id to Is 2d. Cheese—Large, 4£d to sd; loaf, 5d to s£d. Bacon, 6d to i^d. Melbourne, May 4.

Wheat supplies are limited. Sales have taken place at 4s Bd. Flour, £l3. Oats-Algerian feeding, Is 9d to 2s Id; Tartarian, Is lOd to 2s 3d ; stout white, 2s 4d. Barley—Malting, 4s 5d to 4s 6d. Maize, 2s 7d to 2s Bd. Bran and pollard, Is Potatoes, £6 10s to £7 15s. Onions, £5 10s to £6. Adelaide, May 4. Wheat is very scarce. There have been sales at 4s 9d to 4s lOd, but hoUers now ask ss. Flour, £ll 10s to £l2. Bran, Is. Pollard, Is 2d. Oats New Zealand, 3s 5d to 3s 9d; local, Algerian, 2s 5d to 2s 7d; dun, 2s 4d to 2s 6d. DuNEDiNjMay 5. F.o.b. quotations:—Wheat—F.a.q. milling, 4s 8d to 4s 9d ; medium, 4s 4d to 4s 6d. Flour, £l2. Barley—Prime Chevalier, 5s to 5s 3d; medium, is 6d to 5s ; Cape, 3s 9d ; pearl, £2O. Oats, very nrm— Milling, 2s 6d ; prime feed, 2s 4Jd ; medium, 2s 3£d; Sutherlands, 2s 8d; Tartars, 2s 8d ; duns, scarce, 2s 9d. Oatmeal, £l2 10s'. Potatoes—Croo short; £4 15s to £5 for Derwonts, £5 10s to £6 for kidneys ; few offering. Bran, £4 ; soarce and firm. Pollard —None available. Butter—Factory, Is 3d; dairy, lOd. Cheese—Medium, 4Jd ; loaf, 5Jd ; supplies pretty well exhausced, Ryecorn, 3s 9d ; onions, £7 to £7 ss. Napier, May 6.

Messrs Nelson Bros., Limited, Tomoana, received the following oablegram from the Colonial Consignment aud Distributing Company, London : " Frozen meat market is not quite so firm, and there is a fall in North Island mutton. Quotations: —Best Canterbury mutton, 3§d per lb; Napier and North Island, 3|d per lb. Lamb First quality, 4Jd per lb; second quality, 4d." BANK OF ENGLAND RETURNS. THE MONEY MARKET. London, May 4. There was a better competition at the wool sales to-day at opening rates. The American visible wheat supply is estimated at 32,012,000 bushels. London, M-+y 5. The Bank of Eagland returns published on Thursday show the total reserve to be as against =£21,038,000 for last week. The stock of gold coin and bullion is £31,31-4,000. The proportion of reserve to liabilities being 44 60. The amount in circulation is .£22,793,000. The public deposits ' amount to .£11,539 000 ; other deposits, .£39,370,000; Government securities, .£13,188,000 ; other securities, .£32,769,000. Three months' bills are discounted at 3| per cent. Sugar is quiet—Java, cane, No. D.S., lis 9d per cwt; German beet, 88d3g., 9 i 3d per cwt. The Bradford wool market is weaker. For the London sal»s rh •» :n tikeSis fi-w, with an improved competition for merino. Low grade crossbreds are in slow demand.

Wheat—English, Continental and Ameri-

can markets are all very strong and firm. Quotations in English country markets, 48s t\i 50s ; parcels, Victoria!), by steamer, for May delivery, quoted at 42s 6d ; by sailer, 41s, and on passage, 42s to 465. American red winter wheat, 126 cents ; colonial oats, fine, 295; beans, 34s 3d ; peas, nominal, 295.

The following are the latest quotations for Government securities :

♦lnterest payable in May and November, tlnterest payable in January and July. payable in April and October. London, May 7. Wheat lias further advanced 2s, but business is limited. France is buying every available cargo ; 52s 6d has been paid for Californian wheat duo to arrive.

Variation as Price. compared with ! last week. 21% Imperial Consols .. 111 s. a.l 0 0 5/- lower 4% New South Wales 3£% New South Wales .. 118 10 0 45/- higher 104 15 0 25/-higher 3% New South Wales .. 98 15 0,35/- higher 4% Victorian 111 5 0.20/- higher 3j% Victorian 104 0 0-15/- higher 3|% South Australian ioa 10 0 80/- higher 3% South Australian 100 5 0,25/- higher 4%Queensland 34% Queensland 4% New Zealand* ..! 34% New Zealandt ..! 3% New Zealand! ..! 108 10 0 Unchanged 104 0 o 2(1/- higher 112 0 0 30/- higher 108 0 0 40/- higher 99 0 0 20/- higher 8j% West Australian ..! 104 : . 10 0 10/- higher 3-i% Tasmania .. .. 1 1C8 0 0 40/- higher