COMMERCIAL.

Timaru Herald, Volume LVIII, Issue 1770, 3 June 1895, Page 3

COMMERCIAL.

Pbr Electric Telegraph— Copyright. Per Prebs Association. London, May 31. The weekly returns of the Bank of England published to-day show the total reserve to be £28,460,000 and the proportion of reserve to liabilities 63.50 per cent. Consols, 106*. Three months' bills are discounted &i 3i per cent. The market is steady. New South Wales 4 per cents., 116, 3£ per cents., 105* ; Victorian, 106i and 101i ; South Australian, 109 and 104 , Queensland.lll and 102* ; New Zealand; 111 and 104* ; Tasmanian, 3£ per cents. 104i ; West Australian 4 per cents., 118. New Zealand long-berried wheat, ex warehouse, firm, 28s ; South Australian ditto, 28s 9d ; Victorian, steady, 28s 9d. New Zealand mutton, first quality, 3£d; second quality, 2id. Lamb averages 4id. The New Zealand hemp market is unchanged. Latest quotation £13 per ton. Sugar, German beet, is weaker at 10s. Java, quiet, 12s. No. 1 best Scotch pig iron, f.o.b. in the Clyde, 43s lid. Danish butter shows a decline of 5s and is quoted at 84s 6d. Australian butter is steady and the market is virtually bare of Victorian factory-made. Owing to heavy stocks of cheese the market is very flat. Victorian averages 388 ; New Zealand 40s. The poultry market is demoralised, the warm weather checking demand. Silver, 2s 6 11-16d. . Bradford wool prices are barely maintained.

Out of 210 sheep shipped on the Woolloomooloo, 58 died on the voyage. The food was too dry and three-parts of it was refused by the animals, which suffered from stoppage of the intestines. June 1. The Lavals have purchased through Mr Vagg, the world's rights, except for Australia, of Weddon's lightning butter extractor. Mr Vagg approves of the proposal to submit colonial butter and cheese at auction. Experts state that New South Wales cheese is equal to the best English. It is expected that the American wheat crop will not exceed 425,000,000 bushels. Red American wheat is quoted at 82 cents. Best New Zealand rabbit skins are in short supply, but prices are unchanged. The shipments of New Zealand eels and whitebait were worthless. The whitebait are considered to be too large and the eels coarse. June 2. At a meeting of Edinburgh depositors in the Standard Bank of Australia, Mr Langton presided. It was decided to accept a reduction in the rate of interest to 2i percent., the balance to be secured by deposit receipts payable in 1903. A meeting of all Scotch depositors will shortly be held to consider the question. Adelaide, June 1. The South Australian Register dealing with the advance in wheat says that numerous factors apart from the capricious influence of the crop reports, are combining to bring about a better tone, and are generally suggestive of a rise, something more than the passing fluctuations of a sensitive market. The new local loan of £300,000 at 3£ per cent will be issued at par, and have a currency of 25 years. The loan will be issued either in bonds, or in inscribed stock.