COMMERCIAL.

Globe, Volume V, Issue 543, 15 March 1876, Page 2

COMMERCIAL.

ENGLISH CUAIMEKCIAL. Messrs Miles Brothers and Co report on January 31st as foliotfs:— WOOL. There is no alteration to note in the state of our market, and very little business has been transacted, for although there have been a few inquiries for wools of the new clip, importers are not auxious to realise, but prefer taking their chance of any slight improvement in rates at the next sales to commence on the 15th prox, for notwithstanding the dullness of trade in the North, stocks are so bare that prices can scarcely recede, especially as the quantity for offer is likely to be limited, owing to late shipments from Australia; . The amounts to date areBales. New South Wales and Queensland... 3,737 Victoria 11,901 South Australia 5,590 Tasmania 215 New Zealand 2,092 Cape of Good Hope 24,297 Total 48,112 WHEAT AND FLOUR. The languid feeling which has prevailed for such a long period in the corn market still continues, and although wc cannot quote any actual decline in E rices for wheat of bettor quality, it is difficult to nd purchasers for inferior descriptions on almost any terms, and many cargoes still remain unsold, stocks in all quarters being abundant, in addition to supplies afloat, about 1,366,000 quarters. Wc quote Australian wheat in ship, 52s 6d and 535, and New Zealand 48s to 52s per 4961bs landed ; but the latter quotation or price is only for the finest qualities. Flour is much neglected, and Australian is worth 32b to 375, and New Zealand 30s to 35s per 2801bB. . TALLOW AND HIDES; The tallow market has been very quiet, and prices have receded: good to fine mutton being now quoted at 47s to 48s 6d, and beef tallow, fair to fine, 45s 6d to 475. Hides are dull, but rates are about sjd to 5Jd for best heavy, and 4Jd to 4*.d perlb light. NEW ZEALAND HEMP. Although the business in this fibre has been limited, yet we think that in sympathy with Manilla, which has advanced 20s, there is a firmer tendency, and at p.s. on the 19th Instant, when 447 bales were offered, nearly all the lots were sold at steady prices. PRESERVED TINNED MEAT. There have been several inquiries lately at firm prices, owing no doubt to the limited importations, and the small parcels offering, but any large ship - m«nts would of course bring prices down. THE MONEY' MARKET. Mr Westgarth reports on January 21st as follows: — New South Wales—On the sth instant, the Bank of New South Wales, as agents for this colony, offered for public tender £901,500 Four per eents, part of a total authorised loan of £1,901,500. of which £1,000,000 had already been sold the year before. The stock was due in 1905, and the interest payable Ist January and Ist July. The price was declared to be a minimum of £92 10s, 5 per cent payable on application, the balance on the 31 st Inst. The total applications at 92* and upwards, amounted to £1,374,700. Under £93 13s there was no allotment. The success of the sale, and the high standing of the stock, owing to the remarkably flourishing condition of the colony's finances, have supported the price since, which is now firm at about 93*. The market has been further supplied with Colonial Stock bv a Cape Loan of £1,000,000, part of a total of £4,0*00,000 for railways. The amount was unusually large for the Cape, and only £540.200 was tendered for at all prices. The issue-price, which had not been declared, proved to be a minimum of 98$, at and over which only £390,000 had been sold. The balance, however, began promptly to move off, and was all taken up two days after the public tender. The loan was issued by the Crown agents Five per cent was payable on application, the balance in three instalments, extending to 15th February. Course of the Market.—The advance of the Bank rate to 5 per cent a fortnight has had a depressing effect on the market for the Colonial Government securities. On this account, as well as the present and prospective supplies of fresh stock, the upward tendency of these securities has been checked. The New Zealand stocks are again exceptionally firm, and have of late been gradually recovering the depression caused by the issue of the £4,000,000 loan of i\ per cent of last year. jNuw Zealand Government Securities.—During the four weeks interval since the preceding circular the prices of the Government stocks have, on an average, advanced to about the amount of the accrued interest for that interval. Some of the old issues, as the South Australian and Tasmanian Sixes are 1 to 1J per cent higher, while the newer 4 per cent issues a'e mostly stationary with a fully supplied market, New South Wales fours, however, being 1 \ per cent lower, as the effect for the time of the new loan. The New Zealand 4$ per cents are further up about 1 per cent, the Consolidated Fives are 1 to $ per cent higher, and the Six per Cents mostly about 1 per cent higher. The New Zealand Guaranteed Provincial Stocks remain as before quoted; as also the Tasmanian Main Line 5 per cents at 74-6; but in the principal municipal stocks the Dunedin Sixes are \\ per cent higher, and the Auckland Sixes and Brisbane Fives each 1 per cent higher.