Commercial Intellegence. ENGLISH MARKETS.

Timaru Herald, Volume XXIX, Issue 1343, 9 January 1879, Page 2

Commercial Intellegence. ENGLISH MARKETS.

Messrs Miles Brothers and Co. report, under date London, November 22nd, as follows : — ■wool. The fourth and last series of colonial wool soles for fcho present year commenced on the 19th insfc., and will probably close on the 19fch pros. The arrivals were : — New South Wales and Queensland, 25,612; Victoria, 23,084; South Australia, 14,015; Western Australia, 373 ; Tasmania, 325 ; Now Zealund, 12,281 ; Cape, 42,198 ; held over fromipre■vious series,- 62,000; total, 179,888 bales. Of the new arrivals about 300 bales of Australian and 8503 bales Cape have been forwarded to Yorkshire and the Continent direct from the ship. The sales opened with a good attendance of buyers, tho Continent being unusually well represented for tho time of year, and although competition was fairly brisk, a general decline took place m prices, Australian and New Zealand greasy wool being id to Id per lb. lower ; washed and scoured Id to lid, while some faulty parcels showed a depression of 2d per lb. Owing to the present unsettled state of affaire, social as ■well as political, all branches of the trade appear to act with great caution, whilo many holders are meeting the market. Stocks generally are moderate, and reports from Germany give a better account of trade than that existing here, which may be the cause of the relatively small fall which has taken place m Capes. WHEAT AND FIOUB. Supplies of wheat both from St. Petersburg and Atlantic ports having during the past fortnight been again large, a depressed tone lias prevailed m our market, but the Continental demand has prevented any marked decline m prices. Stocks m the United States still continue very large, being estimated at 2,316,000qr5., but as internal navigation there will soon be brought to a close, and shipments from Russian ports will shortly be suspended, wo do not think the market is likely to show a further decline for some time. Prices of all descriptions of wheat are now on an averogo of 12s below those current this time last year. The stocks of New Zealand wheat show a considerable decrease, and these descriptions are therefore m fair demand at the recent advance of Is per qr. We quote m granary : Australian wheat, 50s to ols, and New Zealand 42s to 47s per 4961b5. ; Australian flour, 28s to 355, andj New Zealand, 27b to 30s per 2801bs. TALLOW AND HIDES. The tallow market has continued flat, and prices have again declined fully 6d, the value to-day of good to fine mutton being 36s to 87s 6d, and fair to fino beef tallow 34s 6d to Sob per cwt. Present stock of Australian m first hands is about 4300 casks. There was a fair demand at the public sales to-day, and of 746 casks offered, 606 were sold. Hides continue firm, and quotations are unchanged. PRESERVED MEATS. There has been a little leßs inquiry for compressed beef during the past fortnight, while the sales of ordinary round tins have been almost nominal. American fresh meat has ruled very low m the market lately. MONET. Bank rate lowered yesterday from 6 per cent, to 5 per cent.