COMMERCIAL.

Star (Christchurch), Issue 5698, 17 October 1896, Page 5

COMMERCIAL.

— «, — [Phr Pkess Association.] LONDQH, Oct. 16. The weekly returns of the Bank of England published to-day show the total reserve to be .£26,770,000, and the proportion of reserve to liabilities 50*26 per cerifc. Three months' bills are discounted at 2£per cent. Consols Ifl8&. New South Wales 4 per cent stock, 119}; 3£ do 106 J; 3 do 1004; New Zealand 4 per cent, 112; 3£ do, 106; 3 do, 995 ; South Australian 4 per cent, 111; 3& do, 108; Queensland 4 per cent, llOi ; H do, 104 f; Tasmanian 3| per cent, 108 f; West Australian 3 % per cent, 110. Mutton, first- quality 3fd, second quality 33d; lamb 3£d. Hemp.— -New Zealand has been sold at 15s. Colonial oats, fine 26s 6d, common 20s 3d. Beans 29s 6d. Rabbits show a slight reduction,-ownig to heavy English supplies. The English wheat market shows a general advance of sixpence, the Continental is inclined to buoyancy, and the American is advancing. Sugar, firm. German beet 9s 6d, Java. 11s 6d. Best Scotch pig-iron, 37s 3d. Some New Zealand wool has been sold at7|d. The steamer Australian leaves Poochow on Oct. 17 with 1,750,000 pounds of tea for Australian ports. Supplies have now almost ceased. The total quantity of Congou for the season is short by a hundred thousand half-chests. The stock still in the market is composed chiefly of common kinds. Moderate business is doing for London, and the market is firm with an upward tendency. The New Zealand Loan and Mercantile Agency Company, Limited, has received cable advice as follows : — LONDON, Oct. 16. Tallow.— Market flat. Tallow has declined 9d per cwt since last report. (Last quotations were: — Fine mutton 22s 6d, good beef 215,) Wool. — The sales closed this day at the level of last sales, except that scoured merino super, scoured merino medium and inferior, and fine washed and scoured cross-bred are yd to Id per lb lower. Greasy and washed merino medium and inferior, fine greasy crossbred and medium greasy cross-bred, coarse greasy cross-bred and greasy cross-bred lambs are par to halfpenny per lb lower. Medium washed and scouredi cross-bred and coarse washed and scoured cross-bred are penny per lb lower. Slipe has declined halfpenny per lb. The total quantity sold during the past sales is 257,000 bales, of which 98,000 have been taken for the Continent, and 7000 for America. It is estimated that 57,000 bales have been held over for future disposal.