COMMERCIAL.
* We take the following from the last number of the Melbourne Argus to hand : A review of the series of wool sales establishes a comparative decline of 7 to 15 per cent, on the September prices. The fall is most strongly marked m respect to Sydney and Cape fleece crossbreds. Of the 164,000 bales of Australian catalogued during the entire series, 35,000 bales have been unoffered ; 5000 bales have been taken for export ; 4,000 bales of the new clip have been sold favourably. The trade is seriously depressed. Consols have fallen to 94|. The rate of discount has advanced to S_ per cent., being £ per cent, higher than the Bank of England rate. Colonial Government Securities — Five per cent. New South Wales loan (1888 to 1902) has advancad £1, i.e. to £111£ : four per cent Victorian loan is £2 lower, and is now quoted at £93 ; New South Wales loan remains at £81. Metals. — Tin has further declined 10s. to £1 for straight and Australian. Produce, — Wheat and flour are still unchanged at 508, to 51s. for Adelaide wheat ex warehouse ; and 355. for Adelaide flour. Tallow. — Best Australian beef, 355. ; do. mutton, 38s. Stock m London by last return is 19,000 casks. C" 1?
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Bibliographic details
Poverty Bay Herald, Volume 6, Issue 595, 9 January 1879, Page 2
Word Count
206COMMERCIAL. Poverty Bay Herald, Volume 6, Issue 595, 9 January 1879, Page 2
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