COMMERCIAL

Timaru Herald, Volume XIIC, Issue 13904, 15 May 1909, Page 5

COMMERCIAL

THE LONDON MARKETS.

Press Association-By' Telegraph-Copvright LONDON, May "13.

There is a good sale for wool at full rates. The Avondale clip sold at llfd and" the'Ruanui at 12|d. Wheat is dull of sale owing .to the weakness in America. Afloat cargoes are offering at 43s 6d.

Silver, 2s osd per oz. ' Immense, applications have been received for the, London loan. It is estimated that tlie temporary lock-up of cash will amount to between four and «lx millions sterling TRADE WITHIN THE EMPIRE. Received 11.45 p.m., May 14th. OTTAWA, May 14. The Montreal. Board of . Trade on May 7th unanimously agreed to submit a resolution to the Sydney conference in favour of the Empire protecting itself against foreign producers, hence Britain and the colonies should grant , each other substantial preference as far as their respective revenues permit, the principle of. free trade within the Empire to remain. Mr George, an oxipresildent, who was chosen as the delegate to go to Sydney, has since resigned on the ground .that the resolution was ill-considered and at variance with the national trade policy of Canada. A special meeting of the Board next week will reconsider the resolution. THE A.M.P. SOCIETY. Received 12.55 a.m., May 15th. SYDNEY, May 14. A b the annual ' meeting of the A.M.P. Society to-day, the president said that they were still making records. The interest earned was £4 9s 4d per cent., a drop of- 7d on the rate of 1907, but tho rate had hardened within the last few months. Mr Johnston, of New Zealand, in supporting the motion for the adoption of the report, said that the Dominion's business had contributed a record. Comment on the financial condition of New Zealand was not infrequent just now, and it must be admitted that the Dominion lfad not escaped the general trade depression which in some parts of tho country had been accentuated by dealings in land, agricultural, pastoral and suburban, which could not possibly be justified unless by the belief that whatever xme paid, some still more confident person would shortly offer more. On the other hand, New Zealand had experienced a marvellously favourable sea-/ son, rich crops, prolific lambing, heavy wool clip, good fruit crops, and an abundant, supply of milk. In addition, there had been a very important recovery in the price of wool. On the whole he thought the conditions pointed to a general improvement, and a reasonable view was that the worst trouble, was already over, and that with proper care there would be no causa for alarm.

Alessrs Dalgetv and Co. report Tinder date London, May 13th:—"There, is a good demand for New Zealand frozen beef and the market is firmer. There is a fair demand for New Zealand lamb but the market is weaker. There is a poor demand for New Zealand mutton and the market is weaker. It is difficult to sell heavy frozen mutton at any prico and, a further decline in this description is possible. Wo fiirote." New Zealand orime crossbred lamb, Canterbury, heavy Wod' mutton. Cnnte.rhvtrv, lioaw 2!d, ii.rbtS.Vd; North Island, heavy 2d, Jitrht 97 d. Beef, forequarters, 2|!d; hindnu~«rters, 3jd. The demand for Australia lamb is limited; good ave-nn-ft nnalitv crossbred lamb, heavy, 3d. lieht 3id: Austrnliaii nrime cross-, bred mutton, .heavy ,2d; light 2Jd."