Commercial.

Wairarapa Standard, Volume XIX, Issue 1873, 20 August 1886, Page 2

Commercial.

The New Zealand Loan & t Mercantile Agency Company (Limited) have received the following telegram from their London office dated 17th instant ; Wool.—Since the close of last sales there has been considerable business by private treaty at an average advance of 10 per cent, on last sales closing rates, except for tine crossbred, which has advanced Jd per lb, and coarse crossbred, for which the market is unchanged. Wheat.—The market has an upward ten dency. Harvest prospects are discouraging. Tlie United Kingdom harvest ,is deficient alike in quality and quantity. Victorian wheat is worth 35s 6d per qqfilbs ; New Zealand average quantity, 33s 6d ; New Zealand longberried, 35s ; New Zealand f. a. q. is worth c. i, f., off coast, 32s per 4SO lbs.

Tallow-—The market is steady. Fine qualities are not in demand, but there is a good trade demand for lower and medium sorts. Good mutton is worlh 26s ; ditto beef, 23s (id per cwt.

Frozen meat.—The market is depressed. Slocks are in excess of trade requirements New Zealand mutton, weighing, from 05 to yolbs per carcase is worth per lb.

Messrs Charles Pownull and Co., mortgage agents, Wellington, report the demand for momy ou mortgage investment has largely increased during the last month and quotations at from? to 7J percent. are consequently supported. Pressure by the banking interests upon their customers has thrown many of the securities they hold into the open market, where in many instances difficulty wtlPbe found in their negotiation. Enormous ritvL deeds extracted from the vitality of these young colonies should offer a psotootive shield ia their periodical times of depression, in place of arbitrary and unexpected demands leading up to and causing among some of the miner communities, as in the present instance, a small panic. Capital offeiing has been in fair supply, and we are glad to be able to affirm that confidence in the value of our securities ia fastb-ing established in the Home country, advices of considerable sums for investment having arrived. The wool market since the last London wool sales has further advanced fnllv Id per lb, and as presorilquoti tiers are likely to he mainline d we see no reason to dmibt a period of prosperity being restored, ba-ed upon that great desideratum an ample supply of foreign capita],