COMMERCIAL.

South Canterbury Times, Issue 6754, 8 February 1892, Page 2

COMMERCIAL.

(Per Elkotbio Telegraph—Cop v rig ht.)

[Per Press Association ]

(Received 6 p,m„ Feb. 7th.) London, Feb. 6.

At the meeting of the New Zealand Loan and Mortgage Agency Company, Sir John Gorst said that the company had had a splendid year. Wool of the value of £2,000,000 had been imported. The alliance with Uarsfalls had proved beneficial in developing the produce market. He expressed the opinion that loans were preferable to mortgages, and mentioned that three-qnartera of the capital of the company was sunk in the colonics, referring to the change which the New Zealand Government had made in the incidence of taxation, he said that the new system was disastrous, and that other companies predicted the withdrawal of capital from that colony. The meeting passed a resolution in favour of future r ervea being invested in Government securities. The Right Hon. A, J. Mundella, one of the directors, said that the depression in shares was due to the unpaid liability, and he suggested a reduction should bo made in the value of shares. The meeting was enthusiastic in praise of the manner in which the directors had conducted the affairs of the company.

Mr Dibba’ extensive conversion scheme is regarded in financial circles in the city as impracticable, and there is thought to be more probability of the rate of borrowing being increased than diminished.

(Special to Press Association.)

(Received 10.25 a.m„ Feb. 6th.) London, Feb 5.

A fall has taken place in colonial stocks owing to the forced sale of bond by insurance companies to meet heavy calls caused by the ravages of influenza. A small consignment of South African peaches, of medium quality but of good condition, reached 30s per dozen.

The fiult authorities consider that the advent of Tasmanian apples in the English market will afford a test of what the demand in future t likely to be. These apples are the large, and finest in the market. Both the sup ’y of and the demand for American fruit are lower. There are splendid prospects for colonial apples, provided shipments do not exceed 15,000 cagas par fortnight.

(Received 6 p.m,, Feb. 7th) Feb. 6.

The Standard says that if the Cape fruit trade is extended it may possibly destroy the Australian trade. The climate and cost of production are the same in the two countries, but in the distance which the fruit has to be carried Cape Colony has a decided advantage. The Standard adds that America may possibly compete in the trade in the future.

The Canterbury Farmers’ Co-operative Association have received the following cablegram from their London office, dated sth February : The present value of prime Canterbury mutton, 4|d, market advancing ) lamb, 6d.