COMMERCIAL.

Daily Telegraph (Napier), Issue 3620, 17 February 1883, Page 2

COMMERCIAL.

(By Cable.) London*, February 15. The total reserve in the Bank of England is £13,300,000, an increase of £300,000 during the week. The proportion of the reserve to the liabilities is now \h per cent. The bank rate has been reduced from 4 to 3 J per cent; market rate, '6\ . Consols remain at 102.}. There are no changes to report in the markets for colonial scuirities or produce. Melbourne, Friday. Messrs O. S. Ross and Co., of this city, report having sold at auction a further portion of the cargo of kauri timber ex Ada C. Owen at the following average prices : — Hewn logs, per 100 feet super, 10s Gd; eawn flitches, 13s. A consignment ex Maria Virginia was also placed in the nmrkot, but being of bad quality the offers only average 11s per 100 feet super, and no sales were effected. The market is very dull. Sydney, Friday. Kew Zealand wheat has advanced to is 2d per bushel; New Zealand oats have further declined to 2s Id ; maize, per bushel, 6s Id; sugar. Company's TSTo. 1 pieces, per ton, £3-5. Adelaide, Friday. Wheat is firm at os Bd, and holders" are unwilling to operate except at higher prices ; town flour per ton .£l2 10s, and country brands £12, at which price there is good enquiry, but business is checked owing to the firmness of holders. Freight to London, sailing fram Adelaido 10s; for cereals there are no complete cargoes, but rates are nominal ; freights on wool, greasy id to £d, and scoured §d to Jd, with market dull.