COMMERCIAL.

Timaru Herald, Volume LVIII, Issue 1767, 30 May 1895, Page 3

COMMERCIAL.

♦ Per Electric Telegraph— Copyright. Pkr Press Association. London, May 28. For new Adelaide wheat 27s 3d is offered, and for new Victorian early May shipment 25s 9d. Fifty-nine sheep arrived by the Morayshire m good condition, each having improved about lOlbs m weight. At the meeting of the London Bank of Australia the chairman said the liquid resources amounted to £1,500,000. The rate of interest obtainable m Australia had materially declined since the reconstruction of the banks, and this had affected the earning powers, but they had still been able to pay the fixed rate on the extended deposits, and had also repaid £1,200,000 of deposits m advance. There was an influential and representative gathering at the Colonial Institute when Mr Hotson, of the Newport meat freezing works, Victoria, read his paper on the colonial produce trade. In the discussion which followed Lord Brassey said that the recovery of Victoria was owing to the skill, energy and enterprise of her people m developing the resources of the colony. He applauded their pluck and fortitude m facing the position m the way they had done. Mr Duncan Gillies said that he was satisfied that consignees dealt honestly with producers, but it was impossible to expect much lower freights. Mr Nelson expressed his conviction that European countries had determined never to admit Australian meat. He fully approved of the proposal to decentralise and extend the frozen meat trade to the provinces, and especially favoured the Manchester trade. The scheme proposed by the directors of the City of Melbourne Bank for a reduction of the interest payable to depositors is not definitely completed. A provisional scheme is now being submitted to leading depositors. Sydney, May 29. Consequent on the rise m wheat the associated millers have raised the price of flour to £7 15s. Wheat, chick, 2s 9d ; milling, 3s. Flour, roller-made, £7 10s to £7 15s. Oats, dull, prime feeding, Is lOd. Maize, firm, 2s 2d to 2s 3d. Barley, Cape, 2s Id. Peasj Prussian blue. 2s to 2s 6d. Bran and pollard, Bd. Onions, £4 to £4 ss. Potatoes, locally grown, £1 7s 6d to £1 10s ; Circular Head, £2 to £2 ss. Butter, dairy-made, B£d to 9d ; factorymade, did to lOd. Cheese, quiet, 4d to sd. Bacon, 4£d to sd. Melbourne. May 29. Wheat, 2s 5d to 3s 2d. Flour, roller-made, £7 7s 6d to £7 10s. Oats, firm, Algerian, Is 3£d to Is 4£d ; stout, Is6d. Maize, firm, 2s 2d to 2s 2£d. Barley, Cape, Is 5d to Is 6d. Bran, Bid. The wheat market shows a strong tone, and an advance of Id was recorded today. At a meeting of creditors of Alfred Shaw and Co., it was decided to accept a composition of 12s 6d m the £, payable m ten half-yearly instalments. Adelaide, May 29. Wheat, quiet, 2s Bd. Flour, roller-made, £6 10s to £7. Bran and pollard, Bid. The Government is placing on the local market £300,000 worth of 3£ per cent, bonds, being the balance of the loan authorised m 1893. (By Telegraph.) DUNEDIN, May 29. The National Mortgage and Agency Company report the sale of 16,000 sacks of wheat belonging to the New Zealand and Australian Land Company, to R. Anderson and Co., at a very satisfactory price.