COMMERCIAL.

Patea Mail, Volume IX, Issue 1080, 12 October 1883, Page 2

COMMERCIAL.

MONEY MARKET. Messrs Chas. Pownall and Co., Scrivmers, Wellington, report great stagnatinn in the money market, both ns to supply and demand during the last month, quotations for rote of interest remaining nominally the same, viz : to 8 per cent on landed securities. The transactions offering have been principally confined to the transfer or renewal of existing mortgages. With any fresh investments or speculations in land, a new demand would at once arise, but there is little inducement for the importation of foreign capital while this demand continues so limited.

The New Zealand Loan and Mercantile Agency- Company report under date London, October 9 Wheat market dull ; Adelaide is worth 47«, and New Zealand 42s 6d per 4961b; New Zealand-fair average quality is worth, c.i.f. off the eoast, 40s 6d per 4801b. The tallow market is firm ; mutton is worth 43--*, and beef 41s per cwt. The leather market is firm; best sides are worth ll£d per lb. New Zealand'hemp market quiet; fine is worth £2B per lon.

At Messrs Nolan, Tonks and Co.’s special sale on Wednesday on behalf of Mr W. S. Young, there was a good attendance, notwithstanding the wretchedly bad weather. There were visitors from Opunake, and from a considerable distance south, and prices realised showed a decided improvement. Yearlings, mixed sexes, brought from 27s to 30s fid ; cows, £2 6s fid to £2 lls fid ; cows, with calves, £2 12s ; steers, 18 months to 2| years, £3 3« ; 4-year-old steers, £3 17a fid to £6 Is; Hereford bull, £8 10s; horses, £6 6s to £lO. The Clydesdale mare Princess, was sold to Messrs Wilson Bros for £4O. Maid of the Mist went to Mr Stent at £23 ; and two Clydesdale mares went at £2B and £32 respectively.— Star.