COMMERCIAL.
The local agent for the New Zealand Loan and Mercantile Agency Co. has received the following telegram from the company's office, London, under date 13th instant :—Wool —The sales progress firmly though there is much irregularity in the the bidding. For superior combing washed and combing washed the market is firm, and for scoured -it is easier. Seedy and burrv wools are neglected. TTp to date 159,000 bales have been sold. 79,000 baler have been taken for export. Wheat— Market quiet. Adelaide is worth 57s 6d, and New Zealand 55s 6d per 4961b5. Reports are unfavorable concerning the growing crops here. Tallow —Market firmer. Mutton, 39s Gd ; beef, 37s (id per cwt. Leather —Market quiet. Best sides, ll_d per lb.
UNION INSURANCE COMPANY.
An extraordinary general meeting of the shareholders of this company was held in their offices, TTersford-streefc, Christchurch, on the 6th instant. The business was : — To confirm the following resolution passed at the ordinary general meeting held on July 5 last, and to amend the articles of nssociation by insert-in? the words after clause No. 70 :—" The directors may, however, declare and pay to the shareholders an interim half-yearly dividend without obtaining the sanction of the company in general meeting as aforesaid, provided that the amount so paid shall in no case exceed the rate of dividend last declared by the company in general meeting." Mr W, Reeves occupied the chair- There was a fair attendance of shareholders. The general manager, Mr W. Devenish Mcares, read the advertisement convening the meetins. The motion for confirming the resolution was put and agreed to unanimously. This being all the business, the meeting terminated. —Lyttelton Times.
(bt cable.)
London, September 14. Three per cent consols have declined oneeigh th. New Zealand securities remain unchanged at the following quotations : —Five per cent 10-40 loan, 102., ex-diviclenri ; five per cent 18S9 loan, 102 i ; four and a half per cent 1879-1904 loan, 99|. The market for Adelaide and New Zealand brendstuffs shows no change in price.
Australian tallow, best beef 38s 6d, and best mutton 40s 6d.
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Bibliographic details
Daily Telegraph (Napier), Issue 3188, 16 September 1881, Page 2
Word Count
345COMMERCIAL. Daily Telegraph (Napier), Issue 3188, 16 September 1881, Page 2
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