COMMERCIAL.

Temuka Leader, Issue 2887, 29 October 1895, Page 3

COMMERCIAL.

TIMA HU MARKETS

The Canterbury Farmers’ Co-operative Association, Limited (per Mr J. Mundell, auctioneer), report on the horse and cattle market at IV.ttersall’s yards, on Saturday : Our entry comprised 27 horses, 1 cow, farm implements, harness, etc. There was a good demand for upstanding light harness horses, and the supply short; paying prices are now being obtained for this class. The demand for farm horses was weaker than usual. We quote values as under: —Draughts, young, with t’ial, £l3 10s, fl!4, to £ls; do light and aged, £9 to £1110s; light harness sorts, £l2 to £1410s; hackneys, £6 to £9 ; weeds from £1 to £3; cow in profit, £4 10s.

MONETARY AND COMMERCIAL,

Londox, October 25. The total quantity of wheat and flour afloat for the United Kingdom is 2,020,000 quarters, and for the Continent 1,080,000 quarters. The American visible supply of wheat is 66,600,000 bushels. New Zealand long-berried wheat, ex warehouse, nominally, 275; South Australian ditto, firm, 28s; Victorian ditto, firm, 28a. The New Zealand frozen mutton, first quality, 4£d per lb; second quality, 4gd. The New Zealand hemp market is firm ; 145 bales were disposed of at about £l3 per ton. The wool sales at Bradford are restricted. Tops are Jd lower. October 25. The weekly returns of the Bauk of England, published to-day, show the total reserve to be £32,188,000, aud the proportion of reserve to liabilities 58.06 per cent. Three months' bills are discounted at f per cent. Consols, 107 J.

The Paramatta butter is quoted nominally at 126 s to 130 s, but the high prices asked are preventing sales and attracting American supplies. Thirty-six thousand tubs have been shipped from New York during the last fortnight, and further consignments are to follow. It is believed that prices will relapse shortly, Danish is quoted at 4s. Since the failure of French bears to depress the Antwerp wool market, the slight depression noticeable is departing, and the prospects for the next series are good. Owing to improving trade with America, and the shortage in the clip, virtually no wool has been sold in London since the close of the last sales. Three thousand five hundred and seventy cases of kauri gam have been offered and 1770 sold. The market is firm and high prices restrict business. Three-quarter scraped, 86s 6d ; half-scraped, 545. The stock in hand is 1842 cases.

Silver, 2s G 13/16d por oz. At a meeting of beef importers, at which five firms wore represented, it was decided by a majority of one to form a frozen meat importers’ association. Other importers will bo asked to join. There is a better feeling on the Mining exchange, owing to the formation of a syndicate in Paris, with a capital of £2,000,000 sterling, to assist weak holders, chiefly in African mines. October 26. Shares in the Waihi Grand Junction Goldmining Company, with a capital of £45,000, are being issued. The Gothic has arrived at Teneriffe, and her chilled beef is reported to be in perfect condition.

The Universal Corporation, with a capital of £500,000, is offering 2050 shares to the public. The corporation proposes to operate in African and Australian mines. Sydney, Oct. 24. The United Insurance Company have declared a dividend of 12£ per cent.

Recently the Government asked the French Government to dispense with some of the regulations which interfere with the introduction of Australian frozen meat into France. Au official reply has been received, that it is impossible to relax the conditions under which the sanitary inspection of frozen meat is conducted, Mr Featherston Hough, of the Graziers’ Meat Export Company, has returned from a visit to the American meat centres. As a result of extended enquiries he is more than ever impressed that there is a great future for the meat export trade from Australia. The only real difficulty is, to his mind, the uncertainty of the seasons involving intermittent supplies and thus increasing the cost of production. He is confident that the successful conveyance of meat in a chilled condition is the only proper treatment, and considers that by combining dry sterilised air with moderate cold all risk of spotting or mould will be avoided, also that a much better article will be placed ou the market than at a lower temperature. He has purchased a quantity of the most approved American machinery, and secured the services of an expert cauner for the Graziers’ Company. October 25.

At the wool sales competition is brisk for good wools, but there is an easier tone all round. Prices are without quotable difference. A parcel of greasy superfine sold at 9fd, the highest price for the last two years. The quarterly banking returns give the total assets as £48,270,000 ; liabilities, £81,233,000. Thetotalreserveis£4,64o,ooo Deposits have decreased by £59,800, though those bearing interest have increased by £28,000. The note circulation has decreased by £22,500; coin and bullion by £297,00Q. The breadstutfs market is unsettled, though hardening. Wheat, milling, is nominal at 3s 9d. A. meeting of millers decided to raise the price of roller flour to £9. Mbebouic-je, Oct. 25. At the wool sales the market is firm at last week’s pi ices. Good wools are in strong demand, Wheat is unsettled qpd advancing. The gale of 1000 bales is reported at 3s 3d, at which price buyers now offer freely but without response. Flour is firm at from £7 15a to £B. October 20. The half-yearly report of the National Bank of Australia recommends a dividend of 3 per cent, on preference shares, and to carry forward the balance of profits, £9,500. A small sale of who it is reported at 3s 3Jd. 'The sale of the Central Broken Bill mine to an American syndicate fur £175,000 has been completed ; £20,000 of the purchase money is to bo paid at once, and the balance within one month. AoELAIOE, Oft. 2G. Buyers have raised the limit of wheat to 3s 3-jd, jlWh is very firm at Is.

New South Wales 4 per cents 118i )» # » » "2 » 106" Victorian ... 4 » 110* .- 3^ jj 103* South Australian 4 » 112f 3 I jj 108 Queensland ... 4 3J 112 ... 3J 5> 105& New Zealand ... 4 )) 1H| „ » •■• 3g » 105* Taamanian ... 3J J> 106f West. Australian 4 >1 123