English Cablegrams.

Poverty Bay Standard, Volume IX, Issue 912, 26 January 1881, Page 6

English Cablegrams.

A correspondent writing to the Auckland papers from London, says that the question of the importance of Colonial cereals is coming to be more and more discussed. It appears to be gradually dawning on the British mind that the encouragement of wheat importations even from the Antipodes may be a wise measure, and might, in the event of a European war for instance, become a matter of the utmost and most pressing consequence to our national well-being. There continues a good steady demand for the fine qualities of your wheat, and the long berried Talaoera sorts from the Southern Island are much sought after by millers. It also concerns you that, in many quarters, there is an expectation that Russia and Germany will require a large quantity of grain next spring, and that prices will materially rise ere long. The harvests in both those countries have been deficient, and already several cargoes of wheat have been sent on to St. Petersburg!). By some recent arrivals here I understand New Zealand beans and peas have been introduced for the first time to English notice. lam told that the quality is much approved of, and a very full price has been obtained, enough, I believe, to leave a fair margin of profit in spite of the high freights.

Money is very cheap here just now, and yet New Zealand stocks do not go up as they ought to do. Very much depends on the financial statement of 1881. Shares of New Zealand companies are also depressed. New Zealand banks took a tittle bit of a jump about the time the dividend was payable, but since then they have receded a couple of pounds. New Zealand loans are 4|, National Banks, 41, very little business being done. It was expected that the drain of gold this year to America would have had the effect of making money dearer, but, strange to say, the drain has not been from England to the extent even it was last year, but from France chiefly. Then, business is only improving very slowly, and the difficulties in Ireland and Turkey have frightened capitalists. So cheap money is only cheap for a few purposes. Very nice weather here just now. Everyone seems to have weather uppermost in their minds, and between the wheezing and coughing complain that it is enough to kill any ordinary being. J The prospectus of another company appears, called the Australian Fresh Meat Importation Company &c. Capital £300,000 in 30,000 shares of £10; 15,000 shares of which are reserved for Australia. First issue 15,000 shares of which it is presumed only £5 will be necessary. They are going to use the Bell Coleman cold air

principle, and intend to get tho P. and 0. and Orient lines to grant spaces for the purpose, so that a regular supply may be obtained. They, base their calculations on shipping beef at'2d per lb., and mutton at from Id to l|d per lb. The founders are to receive 100 shares of £lO each, which shall not receive dividend until 7 per cent, is paid on Ordinary shares. Sir R. R. Torrens is chairman.