COMMERCIAL

Timaru Herald, Volume XIIC, Issue 13941, 29 June 1909, Page 5

COMMERCIAL

THE LONDON MARKETS

Press Assodation-By Telegraph-Copyright

LONDON, June 27,

Mutton—Canterbury, light, 3 7-1 Gd ; medium, 3 l-10d; heavy, Southland not r | noted; North Island, 2-id; best brands, 2!)-10d. Lamb—Canterbury, light, -''ad; niedium. 3], d ; Southland,-3id ; -North Island, 3-£ d ; selected brands, %i\. Beef is unehanged. : Australian sheep, heavy, 2 3-iCcl; light, 2;d. Lamb.—Best brands, Sjjil; second quality, ':i'.d; inferior quality, 3d. Beef unchanged. River Plate mutton unchanged: lambs 3:id. Beel', forecuurt-ors, ■ 2 3 16d ; hindquarters, 4 5-lod. .River Plate oats, Jnne-.lulv shipment, are quoted at ISs Od. The Peel Rivei' Company directors state that in view of the economical and political situation in New South Wales, the sum p;.id by the Government for the company's property cannot ;be advantageously- employed in the company's business.- They, therefore, propose to return shareholders £2 for every £•"> of stock held, and a bonus of £l. These returns represent £360,000. "' '

LOCAL .MONEY MARKET

PROSPECTS SATISFACTORY

The New Zealand Trade Review of the 24th hist, says: —The weather conditions and the course of trade are still operating jointly in furtherance ol a\ restoration of tlie hnaneial equilibrium. The. season has been exceptionally favourable for all, or nearly all, pastoral i»nd apricultural pursuits, and the records of the exports of our principal products indicate that the total value for the June qurater will prove to be unusually heavy and considerably in excess .of the reduced volume of imports for the same period. It is to he remembered, also, that in the June quarter the returns for a larye proportion of the earlier exports of-:the season come to credit,-' though these may, on this occasion, be reduced in" some measure, by reelarna-,-tio.fis for advances in excess of realisations, in the .previous year. On the whole we think we are justified in anticipating that, unless other factors have been 'at work below the surface, the banking returns for the' June quarter will show a further improvement of fully two millions. The September and December quarters, however, are characterised by light exports, and are, moreover, the periods in" which, money is required by- our producers foi 1 the preparation and removal of the season's pastoral and agricultural productions' so that : further improvement 'cannot br- reckoned upon in those months unless the volume of .imports is kept very low. However, the outlook is already • considerablv inmroved and. so far. the prospects for the coininfT season are exceptionally Both the general Government nWI local goyerni'i<T bodies, ;ivo successfully annealing 'to outside markets for such funds as they need to thus n<>=istiT><r to improve instead of weakening local conditions. -