COMMERCIAL.

Manawatu Herald, Volume III, Issue III, 21 December 1880, Page 2

COMMERCIAL.

— - ■ ♦ THR N Z.L. & M.A. CO.'s 'FRISCO MAIL ■CIRCUtA.Ii. Wo mako the following extracts from tho Comp^ nys circular, dated Lordon, November 5 : — STOCK-MARKETS. Several circumstances have lately taurled to produce an advance in these markets. Money hiiß bflvn in abundant supply, trade prospects are o" tho whol'j satialactory, and there htia lately bet-n an abstenco of the political rumours which some weeks ago causpd severe fluctuations in price. Wiih tho exception of a fuw speculative sticKs Home Railways, especially the " heavy " lines, have shown great firmness, and close soinewliut hi«her on the month. '1 here has been considerable buoyancy in Fjieign Government Securities, aud prices likewise have advanced. Consols, affected chiefly by tho cheapucss of n oney, have steadily advanced miring the month, until they have reached the exceptional price of 1 00 to 10«i£ as C!Jinpar-d with 97f to 98 on 7th ultima, and 97? to 97& «-n 9th September. It is moro than 27 years ago, or the end of Muy 1853, when ihu qu>tmion was JOO.V, since Consols touched uv rose above par", The enquiry for this security has doubtless been stimulated by the arnouncoment recently mudo by the l'osimaster«Goueral that under the Savings' Banks' Act of last Session any person on and iifier tho 22nd instant will be able, on payment of a small commission, to invoHt at nny B'st Office in tho United Kin^'doo), at which there is a savings bank, small sums in either Codsols, Reduced oiNew I hree per Cents New Zealand 5 per Cents. 19>4 havo fallen 1, aud tho other issues of that Colony are on average abou f 1 lower than on 7th ultimo.

MONEY MAUKET. A further decline in the value of money has occuied siuco our issue of 7th ultimo. Shortly after that (lute considerable ntten tion was directed to the policy pursued by the Brink of France, but contrary to ex Rotation its action in raising its rate of discount from '2$ to 3j per oent. had not the effect of enhancing rates in this country, j As however it resulted in materially checking the dr.rin of gold from that centre, it is the more improbable that a further raising of the rate in Paris will be deemed necessary. This |act; coupled with the oircumstanoe that money continues to be cheap in the Uuiied States, aud the Now York exrhauge reniaina slightly above the gold-movinif p .iut, temi& to keep values at their pi esent depressed levol VIWDVCB MAHXBT3. Wool.— Since dace (»f last report liy this mute trade in the manufacturing districts has < onrinued to be fairly active, and with the arrival of cold weather during rile past fortnight it has been further stimulated. Domestic Wools have been in increased demand, and, as a natural consequence, kin* dred descriptions of Colonial growth are proportionately firmer. liuyers, however, B^o vi. willing to meet holders* views in the way of price, and transactions are therefore limited. From (iermany a fair trade is reported, but in the leading French c-ntres of consumption 'he»e is no relief from the recent depression. ■ Tallow.— For the four public Bales held in the post month a total »t 8,654 packages of Australian and New Zealand tallow weie Citalogued, of which 6,895 pussed the hummer. There has been a' munh better demun t throughout Una podod, and a very fair business was transacted at- the several saleH, Cumpetitiou being very general, and both home and export buyers operating free y. Valnes hnve improved with the demand, and now -how a decided advance on quotations j*iven h month ago. Finer qualities of both beef and mutton are Is to Is 6d per owt. dear«r ; some descriptions of fine beef have sold, (or edible purposeat extreme ratee, as hi»h as 3&» 9 ' pef owt. Nome tallow' is In rather short supply and not of very good quality. Prices oreMutton, fine, 3«*s to 87a ; medium, 34s to 35|6d. Beef, fino, 34s to 365; medium, 3» 61 to 33< 6a.