COMMERCIAL.

Temuka Leader, Issue 2483, 30 March 1893, Page 4

COMMERCIAL.

ASHBURTON MARKETS. During the last seven days 75,000 sheep have been marketed at Ashburton and most of them sold. Prices have been well maintained. Good young crossbred ewes brought 13s to 16s 6d, sound mouths 10s to 14s, sound merino ewes 7s to 9s Bd, rams at full rates. A large number of second quality dealers’ merinos were offered to-day, and most of them withdrawn at biddings a few pence short of the reserves.

FROZEN MEAT TRADE. Mr A. Towers, managing director of the Central Markets Cold Air Stores, Limited, Smithfield, London, E.C., reports as follows for the mouth ending February 18th, 1893 : The favourable tendency in prices reported in my circular of January 21st has been more than maintained. The vessels which have arrived have brought very little Canterbury mutton, and this shows a considerable inflation in price, which cannot be long maintained. The frozen beef market has also been somewhat excited by the delay in the arrival pf the Pakeha, which has a large consignment of Australian beef—the market being practically bare of supplies. Mutton —The medium grades of New Zealand mutton have had a firmer tendency, and show an advance of £d to Jd per lb, but as the supply is very good, the advance has not been so marked as in the case of Canterbury mutton. The stocks on hand are, as a matter of fact, large enough not to warrant an appreciable rise in value, but for the scarcity of Canterbury mutton. Trade in the provinces as well as in London is not brisk, and the Lent season rather checks the demand. Australian mutton shows a decided rise in value, the Queensland grades particularly being good. Lamb-Only very small quantities have been landed yet, and the quotations are nominal, but the Doric consignments, just arrived, will give material for more decided quotations. Beef For the reason given in the first paragraph beef shows a considerable advance in price, so far as hind-quarters go, which has not been shared by fore-quarters. These close not at the best quotation of the month. On arrival of the Pakeha I anticipate the tendency of prices will be to recede somewhat. American chilled beef has been in fair supply. The present quotations are ; Mutton—New Zealand, Best Canterbury, 3s to 3s Id per 81b;' medium and good grades, 2s 8d to 2s lOd do ; Sydney and Queensland sheep 2s 2d to 2s 4d do. Lambs Best Canterbury 4s 2d to 4s 6d per 81b. Beef —■ New Zealand, hind-quarters, prime, 2s 8d to 2s Od per 81b ; fore-quarters, prime, 2s 2d do ; Queensland, hindquarters, prime, 2s 6d to 2s 7d do; forequarters, prime, Is lid to 2s do,

MONETARY AND COMMERCIAL. London, March 26. The S.S. Oberon, from Wellington has arrived in time for the coming wool sales. The English wheat market has a weak tone without quotable change in prices. The Continental market is depressed, and the American is changing a little for the worse. No mutton tallow was sold. Nominal prices, 32s (id ; beef, 295. The bu ter market is demoralised. The Statist publishes a letter, contending that the taxation of the V\ dlingtou - Manawatn liailawy Company’s debentures enriches the shareholders at the expense of the debenture-holders. The average price for English wheat is 24s Bd. —»o of Australian wheat off coast A cai 0 " "30s fid, lias been sola I-/* • . -failure of ihe net loss involved uy me Jabez S. Balfour’s group of compan.. exceeds £7,000,000, including £3,000,000 swallowed np in the Liberator Building Society. Paris, March 27. A leading Australian firm has informed the Minister for Agriculture that if the French persist in imposing duties on Australian goods, the colonies will retaliate. Washington, March 28. Three banks in Nashville, Tennessee, have suspended payment, involving a loss of 3,000,000 dollars. Sydney, March 28. Butter has advanced Id per lb. This is considered to indicate the triumph of the farmers over the ring which has been operating to depress prices, in order to store advantageously for the winter markets. Melbourne, March 27. The question of adding dressed poultry to the frozen exports is receiving attention. The Agent-General reports that poultry is most scarce in England in February, March, April, and May, and provided that young birds of first-class quality are sent there should be a demand at good prices. Wellington, March 28. The Agent-General writes respecting the complaints of the quality of butter, that owing to the large arrivals, especially of Australian and New Zealand, buyers

are more critical and have condemned as unsound butter, which, in a less full market, would have found a ready sale. He condemns the presence of large quantities of dairy butter on the market, owing to the fact that it does not keep or carry as well as creamery. He also states that speculators who bought for export to the English market lost heavily and are not likely to visit this colony this season. Mr Perceval adds that the longstanding controversy as to the proper temperature at which to carry butter is still undecided, but opinions favour low temperature as preferable, but for the best quality the present temperature seems to produce highly satisfactory results.