FINANCE AND COMMERCE

Poverty Bay Herald, Volume XXII, Issue 7386, 15 July 1895, Page 2

FINANCE AND COMMERCE

Lostdon, July 14. Messrs Montague Nelson, Wi S* Davidson, W. S. Holmes, M. C. Thompson, and C. H. Byas have been appointed directors of Nelsons' Co-operative Company. Other seats are reserved for colonial representatives. ■ Messrs Davidson and Thompson retire from the directorate of Nelson, firosij (Ltd.) The advisory Board of -the" "new company in New Zealand consists of the flon. J. G. Ward, Hon. ..John McKenzie, and Mr W. Nelson. ; \ ' . f

The Rothschilds will issue in London a Brazillian loan of ■ six millions at five per cent., with a minimum of 85. .., „: .. _ American wheat markets are recovering aftera sharp decline. The English and Con* tinental markets, are moving in sympathy with the American markets. Cargoes of Victorian wheat have been sold as follows: Ex barque Mandalay, 24s .7&<3 ', ex ships King David and BoadiceaV 23s 3d. It is estimated that the, English wheat crop will be 2,000,000 quarters below last season. The total quantity of. wool catalogued up yesterday was 166,000 bales, of which 158,000 bales have been sold. For good selection and greasy and fine combings the. bidding was spirited, and prices remained unchanged. American representatives made large purchases. - .'.,'■.

At to-day's sales a large catalogue was offered, and competition was spirited, prices being well maintained. : . At the tallow sale, owing to the poor demand, holders withdrew all stocks advertised for sale. Prices have nominally declined threepence.

Melbourne butter, faotory made, is quoted at 935. ....■-..:•■

Adelaide, July 13. The Government has decided to appoint a State Poultry Lecturer with a view of rearing and improving the breeds .for export. ■ The Minister for ' Agriculture said the Government intended to give every assistance in developing the frozen and live meat and produce export trade.

v Christchurch, to day. At the annual meeting of the Farmers' Co-operative Association the balance-sheet showed a net amount available for distribution of £10,570, which it was resolved should be allocated as follows : To pay the usual dividend of 7 per cent., and also a bonus of 3 per cent, to shareholders on their purohases of merchandise during the year;, a bonus at the same rate on salaries paid and wages earned ; also a refund of 20 percent, on all net commissions earned ; to yrnie 10 per cent, off machinery and office; furniture accounts ; to carry £1000 to the reserve fund and the balance forward to next year's account. •

The New Zealand Loan and Mercantile^ Agency Company has received the following I ** commercial cable, dated London," July 12 :V Tallow : Market flat. Quotations nominal. Frozen meat : Mutton market weaker. Canterbury mutton is worth 3Jd per lb ; Wellington mutton is worth 2gd per lb, ;•