Commercial News

Feilding Star, Volume XIII, Issue 92, 2 February 1892, Page 3

Commercial News

[united press association. I London, January 30. The total amount of reserve in the Bank of England is £14,608,000. The proportion of reserve to liabilities is 40-32. . Three months' bills, 1£ per cent; New Zealaud 4 per cent inscribed stock, 102£ ; ditto 3£ per cent, 92f . New Zealand long-berried wheat, 448 3d. The market is firmer. Wellington mutton, 3£d ; beef, forequarters, 3£d ; hindquarters, 4£d. New Zealand Hemp is in good demand, and there has been a further advance of 10s. Fair to medium qualities, £22. The bulk of the Arawa's factory made butter realised 120s per cwt, and dairy made 104s. 1 The Continental wheat marked is depressed, and prices show a general decline of 10s.. Biddings at the wool auction were keen, and the attendance average. Prices were generally maintained at the level of those on the opening day. The total catalogues up to date was 62,800 bales, of which 47,600 were sold. The English wheat market is depressed; the . Continental dull; and the American .^eady. . The New Zealand Loan and Mercantile Agency. Company (Limited) have receiyed the following cable message in reference to the London wool sales, dated London, 29th January : — Tallow — Market easier. Quotations have declined 3d per cwt since last report. Frozen meat — Mutton market unchanged. Beef market firm. Beef has advanced £d per lb since last report. New Zealand Hemp — The market has been higher since we last telegraphed, but has declined. Medium is worth £21 per ton. The Wellington branch of the New Zealand Loan and Mercantile Agency Company (Limited) report on the produce markets for the week ending Wednesday, 27th January, as follows-: — Wool— We have received the foilowing cablegram from our London manager regarding the opening of the first series of colonial wool sales there : — The sales opened this day at the level of last sales, except medium and inferior greasy merino. Greasy and scoured has declined £d per lb since close of last sales. Attendance of both Home and foreign buyers is good, and competition fairly active, but there is a want of confidence in the bidding. The total quantity available, including wool held over from last series, is 399,000 bales, 89,000 of which have been forwarded to manufacturing districts direct. Sheepskins— Since last writing we have brought forward large quantities of these, clearing every line at late rates. Green crossbred and halfbred pelts, Is 6d to 2s ; lambskins, Is 6d to 28 2d ; country skins, 3Jd to 6d per lb. Tallow and Fat — All parcels brought forward are taken up by the trade at laßt week's quotations. Inferior to good, 148 to 18s ; prime mutton in shipping lines, 20s to 23s per cwt ; rough fat, 12s to 13s per cwt. Our London manager cables that good beef and fine mutton tallow are worth respectively 25s 9d and 27s 3d. Hides — No alteration in prices to report under this heading. Wheat —No business passing. Whole fowl wheat is worth, nominally 4b 4 d to 4s 6d per bushel. Oats continue in good demand, and business is reported at Is lid to 2s for prime feed. During the week we have placed several lines at above figures. Grass Seed— Small business is passing at late quotations.