COMMERCIAL.

Otago Witness, Issue 2151, 16 May 1895, Page 23

COMMERCIAL.

The New Zealand Loan and Mercantile Agency Company (Lhnited) have received th i following cablegram from thfcir London offico, dated 14th inst.: — "Wool: Since opening of sales fine and medium greasy crossbred are par to £d per lb lower. ObLcr descriptions unchanged. There is much irregularity in the bidding. Wools of a fanlty character are neglected. The total «uar«tity catalogued lo date is 152,000 bales. Total quantity withdrawn to date is 21,000 balea." We learn that Mr T. Stroud, of Groner's Bush, has just sold his wheat, realising 2s 7d a bushel, delivered in Invercargill, the price paid last year being 2s -Jd delivered at the Groper's station. From 87 acres of splendid rich river flat land he threshed 1050 bags or 4200 bushel*, 100 bags of which he kept for home use. Figuroi out this gives n yield of a fraction over 4S bushels to the acre, which must be considered an exceptionally good one. The wheat was a nnt-rrfe sample. Messrs Daigety and Company have received ihe following cablegram from their head office, dated London, 9th May:— "Good demand for sheepskins. Prices have advanced id per lb. Hides have alto advanced id per lb." Wo are informed that the directors of the Australian Mutual Provident Society have again considered the question of the rate of interest charged to members who borrow on tho security of their policies, and it has been decided to still further liberalise the conditions under which such loans can be obtained. For many years it was tha practice of the society to charge a uniform rate of 7 per cent, on all policy loanß. whether the amount required was £5 or £5000. Recently, however, aa alteration was made, under which borrowers of an amount of £200 or over for a fixed term of not less than two years should be charged only 6 per cent., provided they did not borrow more than 75 per cent, of the surrender value of the policy instead of 90 par cent., which was the limit available in terms of the by-laws. It is now, however, determined by the directors to advance to the full extent of 90 per cent., if required, in all cases, and. to charge the reduced rate of 8 per cent, to all borrowers of not less than £100 who take the money for a fixed term of at least one year, interest being charged quarterly. This regulation will come into force on the next quarter day— viz , July I.— Evening Post. Probably owiug to the decrease in the consumption of tea from China, there has been a large decrease in recent years in the trade between China and Australasia. In 1881 the imports of Australasia from China were valued at £1,430,903, whereas in 1592 they only represented £479.719. During the same time Australasian exports to China have dwindle! down from £78,. r 99 to £30,029. The Japanese trade has slightly iucreajed, but the imports from Japan in 1892 by the whole seven colonies were limited to £63,234, and the exports to Japan were only represented by £7904.