COMMERCIAL.

South Canterbury Times, Issue 8228, 8 June 1895, Page 1

COMMERCIAL.

Per Electric Telegraph—Copyright. Per Press Association. Melbourne, June 7. The restrictions against the importation of New Zealand sheep into Victoria will be relaxed at an early date now that the former colony is free from scab. • Sydney, June 7. The Bankers’ Conference have drawn up a series of recommendations with reference to banking legislation which will be submitted to the Premiers of the various colonies. Among the subjects discussed were the definition and limitation of the bank form of quarterly returns, the note issue, and system of audit.

There was quite a boom in the produce market to-day, and most lines closed at an advance, with a strong upward tendency. Butter advanced Id, bran and. pollard sold at lOd; oats, prime feeding,

2s Id; maize, 2s 6d; onions, £4 to £4 10s ; peas, Prussian blue, 2s 6d to 3s 3d. The agricultural statistics for the year ended March last show that the area under cultivation in the colony was 1,326,000 acres, an increase on the previous year of 119,000 acres. The wheat area showed an increase of 53,000 acres. Last year’s yield amounted to 7,044,000 bushels, an increase of 540,000 bushels, giving an average of 10,9 bushels per acre. The yield of other crops, generally speaking, shows a decrease. Adelaide, June 7. In consequence of the rise in wheat the price of the 21b loaf has been raised £d. London, June 6. The Meat Trade Journal , referring to the price obtained for the sheep by the Morayshire, says that when sheep are worth 15s in the colonies, and realise 54s in the Home market, it establishes a record price, and is certain to encourage the live stock export trade in the colonies.

The New Zealand and River Plate Land Company have declared a dividend of 5 per cent.

The weekly returns of the Bank of England published to-day show the total reserve in notes and bullion to be £27,736,000, the proportion of reserve to liabilities being 62.80 per cent. Consols, 106 i-. Three months’ bills are discounted at f per cent. The market s steady. New South Wales 4 percent, inscribed stock, 114£, ex interest; 3k do, 105 i; Victorian 4 per cent., 106?; 3k do, 102 i ; South Australian 4 per cent., 109; 3k do, 104 i; Queensland 4 per cent., 109 ; 3k do 101£, both ex interest; Tasmanian 3k percent., 104 i; Western Australian 4 per cent., 118 ; New Zealand 4 per cent., Ill; 3k do. 103, ex interest. New Zealand long-berried wheat, ex warehouse, 28s ; market weaker. Soqth Australian ditto, 28s 6d, weaker. Victorian, do 28s 6d, weaker. A cargo of South Australian wheat per the barque Dbchra (January 25th) has been sold at 28s.

New Zealand mutton, first quality, 3-id; second quality, 2fd. Lamb averages 4Jd. Hemp is unchanged. Sugar, best German beet, 10s, quiet; Java, 12s.

No. 1 best Scotch pig iron, f.o.b. in the Clyde, 43s 7id. Butter, fine quality, factory-made, 72s to 78s. A few packages of choicest quality realised 80s. At the Bradford wool market business is quiet and prices are slightly weaker. (By Telegraph.) DUNEDIN, June 7. In connection with the winter show to-day, Mr D. J. Nathan,-of Wellington, explained his scheme for the extension of the frozen meat trade, speaking at some length on the general principles of the scheme. He. was followed by Mr Orbell, who has a somewhat similar consolidation scheme, but on a less extensive scale in dealing with the trade at the London end. A resolution was carried requesting the Government to convene a conference of delegates from Agricultural and Pastoral.. Associations, Farmers’ Clubs, etc., to consider the present position of the meat export trade, and to suggest any scheme for its improvement.