Monetary and Commercial.

Star (Christchurch), Issue 6713, 28 November 1889, Page 3

Monetary and Commercial.

ADVANCE IN WOOL, [Special 2:0 Press Association.] LONDON. Nov.- 2G. At tho ■wool sales to-day, CSOO bales were catalogued, five-sixths being .Australian ■wool. The room was crowded, and there was very keen competition. Prices realised generally from 5 to 10 per cent above the closing rates of the October sales. Good merinos and coarse cross-bred -syere firmest. At the wool sales to-day tho bidding -was spirited. Merinos and crossbreds showed an advance of. 7|- per cent as compared with, the closing rat9s of the last series. The copper market is excited at .£49. Glasgow pig-iron is quoted at 625. The Bank rate of discount is 5 per cent, and the market rate 4 per cent. For Australian flour there is a J: air demand at 27s to 27s 6d. Prime New Zealand mutton is at 41& per lb. "Tin is quoted at £96 10a per ton. Galvanised iron, Orb brand, £19 per ton. The Now Zealand Farmers' Association have received the foliotviug cablegram from their London oflico : — Nov. 2G. Wool. — The market is active and dearer by 10 per cent. The New Zealand Loan and Mercantile Agency Company, Limited, have received tho following cable advice :— XOKDON, Nov. -20. Wool. — The sales opened at an average advance of 7;\ per cent on, last sales' closing rates. The attendance of both Home and foreign buyers is good and competition active. The total quantity available, including wool held over from last series, is 163,000, 12,000 bales of which have been forwarded to the manufacturing, districts direct.