COMMERCIAL.

Star (Christchurch), Issue 5568, 18 May 1896, Page 3

COMMERCIAL.

[Per Press Association.] LONDON, May 16. The P. and 0. Company has declared a dividend of 5 per cent on preferred and 7 per cent on deferred shares. , LONDON, Mat 17. The total quantity of wool catalogued up to date is 216,000 bales, of which 94,000 bales have been sold for the Home trade, 106,000 for export and 1000 for America, while 75,000 bales were held over. The sales closed with prices rather irregular, being at about the January level, but with a hardening tendency. The statistical position induces importers to expect recovery in prices. Sheepskins were weak at yesterday's sale, with a farthing decline. At the tallow sales 925 casks were offered, of which 149 were sold. Pine mutton brought 20s, medium 18s 9d; fine beef 18s, medium 17s 3d. MELBOURNE, Mat 18. The Agricultiiral Department has decided to adopt the New Zealand system of grading butter, and^has asked the New Zealand Government to select an expert grader. " . :

The New Zealand Loan and Mercantile Agency Company, Limited, has received cable advice as follows: — LONDON, Mat 16. Tallow. —Market weak. New Zealand fine mutton and good beef are worth respectively 20s and 17s 9d, quotations nominal. (Last quotations were 20s 3d and 18s 3d.) Wool. —The sales closed firmly this day. Since the close of last sales greasy merino super., coarse greasy, washed and scoured cross-breds, greasy merino lambs, super; and greasy merino lambs, medium and inferior and slipe, are par to •$d per lb lower. fGreasy merino medium and inferior and medium greasy cross-bred have fallen |d to Id per lb, while washed and scoured merino super., washed and scoured merino medium and inferior, fine greasy, washed and scoured , cross-bred, "and medium washed and scoured cross-bred have declined Id per lb. Greasy crossbred lambs have advanced -?,d per lb. The total quantity sold during the past sales is 199,000 bales, of which 105,000 bales have been • taken for the Continent and 1000 bales for America. It is estimated that 75,000 bales have been held over for future disposal. '. Frozen Meat. — Lamb market better. Prime New Zealand lambs are worth per . carcase 4|d per lb. (Last quotation was 4Jd.) Sheepskins.—Market inactive. Merino have declined sd to id, and cross-bred combing £d per lb.