N.Z.L.& M. Agency Home Reports

Patea Mail, 18 January 1882, Page 3

N.Z.L.& M. Agency Home Reports

Circular issued in London on Ist December, by the N.Z. Loan and Mercantile Agency Co. reports: HOME INDUSTRIES. Most Home industries continue in a satisfactory condition. The renewed activity in the iron trade is fully maintained and even increased. Manufactured iron is in steady demand for America and the colonies, whilst the Home enquiry has perceptibly improved. The cotton trade is quiet, and prices are a little easier, owing in some measure to the fact that consumers, having lately made heavy purchases, are for the present well supplied. Increasing activity is observable in the woollen trade, and with a steady consumptive demand, manufacturers appear to be fully employed. IMPORTS. The total value of imports reached £31,307,313 as against £27,436,060 for October 1880, thus marking an increase of slightly over 14 per cent. Among cereals there is a Jarge increment in wheat and Indian corn, whilst

oats show a considerable falling, as also, though to a much smaller extent, do barley and wheat flour. The latter article, however, whilst somewhat less in quantity, exhibits a slight increase in value. With the exception of a falling off under the headings of animals, butter, cheese, potatoes, and tea, most other food products show a considerable increase both as to quantity and value. There is a marked improvement in nearly all raw materials, the most noticeable exceptions being hides (dry and wet), and wool. The import of woollen yarns, however, has increased to the extent of nearly 38 per cent, in quantity, and rather more than 34 per cent, in value. MONEY MARKET. Shortly after the departure of the last mail, rates of discount in the open market fell further away from the Bank of England minimum, three months,’ bills being taken as low as 3£ per cent. Rates paid for loans until the midDecember account ranged from about 5 to 6 per cent., according to the security offered. Money appears somewhat cheaper on the Continent, as indicated by the fact that on 26th Nov. the Imperial Bank of Germany reduced its minimum from to 5 per cent.