COMMERCIAL.

Poverty Bay Herald, Volume XXIL, Issue 7296, 3 June 1895, Page 2

COMMERCIAL.

London, Jane !.

The Lavals have purchased, through Vigg, the world's rights, except for Australia, of V\ edden'a Lightning Butter Extractor. Vigg approves of the proposal to submit colonial butter and cheese at auction.

Experts state that New South .Wales cheese is equal to best English. It is expected that the American wheat crop will not exceed 425,000,000 bushels. Bed American wheat is quoted at 82 cents. Best New Zealand rabbit . skins are in short supply, but- prices remain unchanged. Shipments of New Zealand eels and whitebait were worthless, the whitebait being considered too large, and the eels coarse. June 2. — Tallow : Medium mutton 22s 6d, beef 21s. Wheat : English and Continental markets incline to buoyancy. American is advancing rapidly. Speculative offers of 28s have been made for Adelaide cargoes ex Glenbank and Dochrya. Rabbit skins have undergone a general decline of about fd, but the best New Zealand are in short supply, and prices for these are unchanged. The P. and O. Company's annual report speaks of the Australian export trade a3 improving, but the homeward traffic is less remunerative. Two more steamers are being built superior to the Caledonia. The Stock Exchange is indignant at the withdrawal of the Mount Lyell Company's debentures after they had been'underwritten, and the brokers have decided not to deal in the company's shares in consequence. The London banks have informed the Australian offices that the debentures have been hypothecated in anticipation by underwriters, and that litigation will probably ensue over the matter. The Newfoundland Government has arranged to float half a million four per cent, loan in London with a minimum of 94. At a meeting of the Edinburgh depositors in the Standard Bank of Australia, at which Mr Langton presided, it was decided to accept a reduction in the rate of interest to 2£ per cent., the balance to be secured by deposit receipts payable in 1903. A meeting of all Scotch depositors will shortly be held to consider the question. Adelaide, June 1. The South Australian Register, dealing with the advance in wheat, says that the numerous factories, apart from the capricious influence of the crop reports, are combining to bring about a better tone . and are generally suggestive -of a rise 'something more than the passing flubtoation of a sensitive market. ■ %■ ■ Melbourne, June 3. The directors of the Mount Lyell jnine state that negotiations for the sale of debentures through a London syndicate were finally closed before the debentures were offered for issue in Melbourne and that they were closed because the London syndicate demanded unsatisfactory terms,' and that the debentures were not in any way hypothecated. Brisbane, June S. The Permanent Building and Banking Company has released the second instalment I of deposits, although they do not mature till May, 1896. ' . . The New Zealand Loan and Mercantile Agency Company, Limited, Have received the following commercial cable, dated London, 31st May, 1895 : -Frozen meat: Canterbury mutton is worth 3Jd per lb, Wellington 2Jd Prime New Zealand lambs are worth per carcase 5d per lb. Tallow; There is a fair demand. Tallow haß advanced 6d per cwt since last report. ;'•'.'