COMMERCIAL.

Temuka Leader, Issue 2834, 27 June 1895, Page 4

COMMERCIAL.

TEMUKA STOCK SALE. Owing to the inclemency of the weather the entries at the Temuka yards were very small, four or five pens of sheep only being yarded. The attendance was very good. Very little changed hands under the hammer; one pen of three-quarterbred wethers, fat, sold at 11s lOd, the balance, ewes, were disposed of privately at satisfactory prices. There were no cattle yarded. Mr Webster sold for the Deputy Official Assignee in the estate of Mr W. G. Aspiuall store pigs at 3s 9d, sows in splendid order at 27s 6d aud 30s. At the grain shed Mr Webster sold on account of the same estate, flour in 50ft> aud 100 ft) bags at from £8 10a to £9 per ton, beans 2s 6d per bushel, barley 2s 3d per bushel, bran 4s 6d to 4s 9d per bag, tuscan wheat 3a 5d per bushel, potatoes 30s per ton, sharps 8s 9d per bag. The above prices included bags. Mr Muudoll sold in the drillshed a quantity of new and secondhand harness on account of Mr Bethune at satisfactory prices. CHRISTCHURCH MARKETS. The New Zealand Farmers’ Co-opera-tive Association of Canterbury, Limited, report for week ending Tuesday, 25th June, 1895, as follows : Wheat—Steady, 3a 7d to 3s 9d, f.o.b. Oats —Firm. Milling, 2s; feed. Is lid; duns, Is lOd, f.o.b. Barley—Dull. Prime, 2s 6d to 2s 9d ; teed, 2s to 2s 3d. Beaus—Quiet, 2s 6d, f.o.b. Peas —Improved inquiry. Feed, 2a 3d to 2a 6d ■ blue, 2s 5d to 2s Bd. Clover —Steady. White, 9d to lOd ; cowgrass, 5d to Gd. Cocksfoot-Steady, 2Jd to 3 Jd; machinedressed, 4Jd to 4id. Ryegrass- -Steady. Dressed, 3a 9d to 4a 3d ; farmers’ samples, 2s Gd to 3s. Potatoes —Steady. Near delivery, 255, at country stations ; forward delivery, 30s. Butter —Advanced. Salt, 9d ; fresh, lid to Is. Cheese—Steady. Largo, 4d; loaf,4£d. MONETARY AND COMMERCIAL. London, June 23. Nelson Bros, propose to transfer their English business to the Colonial Produce Distribution Company. The first issue of capital will be £300,000. The world’s export of wheat for the last ten weeks was two million quarters above ordinary needs, but owing to the moderate stock in England the surplus was readily absorbed. It is expected there will be a rise of a half-penny in merino .cowbifigaud bright crossbreds at the July sales, During the present month the galea of wool have aggregated nineteen and (fchalf million pounds. Tallow is unchanged. TEnglish wheat market has undergone a generaj decline of sixpence, aud the fall is continuous. Spot quotations in New Yppk for red winter No. 2 is 75J cents. New f* outh Wales hides, heavy ox, 6d ; cows, 3 Jd. A memorial to the Chancellor of the Exchequer in favor of bimetallism, signed by a number of bankers, merchants, manufacturers, labor organisations, landowners, members of Parliament, and Professors of poiitj.cp.l economy, prays the Government toco-operateother Powers to secures fixed par of exchange the metals. i For a cargo of Victorian wheat by the ; ship Celtic Monarch, buyers are offering 245, »nd for tfio cargo by the ship Scottish ‘ they are offering £4s ,3d. Dairy Qopjifldesioner has The Canam.. —shipments of perfected a plan for . ‘ cream and butter to England. One hundred and fifty thousand of the Royal Bank of Queensland debentures have been subscribed. This includes the amount which English depositors are willing to convert. Owing to consumption of stocks firmer rates are expected at the wool sales before autumn. Juno 25. A large number of members of the Stock Exchange, both in London and the loading provincial centres, have memorialised the Chancellor of the Exchequer against any change in the monetary system. The sum of £BG 1,000 was tendered for the Newfoundland loan of £500,000 at 4 per cent. The minimum was 98), and the aveiago of the lenders 99 1. Washington', June 24. The gold re.-servo in Iho American Treasury exceeds $100,000,000. Sydney, Juno 24 Heavy stocks of butler have come forward. Dairy-made has fallen to lOd to I Id, factory-made to Is ami Is Id. Mi liiouhNE, June 24. There is every prospect of the export of rabbits assuming very largo proportions this season. London orders have already been received for 100,000 pairs. The Damascus, leaving on Wednesday, takes 125 tuus of rabbits, game, and poultry. Juno 25. The Argus in a financial article says ; “ Wo have got b: C to the h; 1 yon dayof colonial ere it, ov.ing partly to the exliaordinary eli.apne.--s of money equally with tho oxlraordiuary dearth of first

dass securities in London, and partly on account of the steady regularity with which public obligations in the colonies, save those of one or two minor New Zealand harbour boards, have been met. As an outcome ef the recent Bankers’ Couferorce, it is expected that the Bill when drafted will principally deal with the note issue, the existing issue by the banks to be given up. The Government note issue will be controlled by a commission partly nominated by the Government and partly by the banks. The banks are to provide coin against the issue, of which 70 per cent, will be invested in colonial 4 per cents, and 30 per cent, be retained. The gold issue will be allocated to the banks in proportion to the existing issues and deposit liabilities, the notes to be legal tender exchangeable for gold at the chief offices of the banks. Emergency issues are allowed on a deposit of 20 per cent, of coin and 80 per cent of approved Government securities. The profits derived from the investments iu stock after deducting expenses of management, are to be divided equally among the banks and the Government. Wellington, June 24. When Mr Duthie was at Home he, in conjunction with Messrs C. Pharazyn, G. Beetham, J. Bull, and Keeles, visited Nelson’s stores to inspect the frozen meat, and the party drew up a sort of report. They found the market over-stocked and prices low, the outlook being iu their opinion very bad. In their opinion New Zealand mutton could not compare with the English. The colour was pale, it was roughly butchered, and suffered from rough handling. The quality had fallen off, especially in Welliugtou sheep, but not so much in Napier and Canterbury meat. Lamb had deteriorated even more than mutton. They found that Queensland meat was sent in a much better condition ; they have a practice which has found favour of cutting off the shoulders and long ribs and sending two hinds in one cloth. They consider that to improve the present state of things joint action is necessary to regulate the quantity put on the market and minimum price; and, above all, the quality must be improved. The party visited the wool stores, but the only thing they found worthy of note was that buyers are disinclined to bid for small parcels, and the consequence is that the price for these is usually Id to IJd below the larger lots. This appears to them to be a heavy handicap on the small settlers.