COMMERCIAL.

South Canterbury Times, Issue 2348, 25 September 1880, Page 2

COMMERCIAL.

S. C. Times Office. Saturday Evening. Business in commercial circles is dull. There is jilenty of inclination to speculate, but the money market, though gradually becoming easier, is by no means favorable to trade. Grain is,only coming forward in small quantities, and the greater portion offering is either damaged or of very inferior quality, Good milling wheat commands 4s to Is 2d per bushel, and shows a tendency to advance upwards. Barley is not in request, and has to be sold at a sacrifice for fowls’ feed. Oats are worth from Is 4d to Is 6d for milling, and from la to Is 3d for feed. _ Wheat and barley for fowls’ feed are offering at us to 7s Gd per bag. Dunedin, Sept. 24 Grain—Wheat is worth 4s Cd for prime milling, 3s (id to 4s for medium. Oats : There is some inquiry, but as holders appear unwilling to relax their limits, very little business has transpired. Is 8d for prime raiding, and Is ud to Is 7d for feed. Barley : There is nothing fresh to report. At 3s Gd for prime malting there are buyers but there is very little of such quality in the market. Medium is difficult to place, even at 2s <Sd to 3s 3d. Fat Cattle —Only 102 head were forwarded this week from Burnside,for which there was a fair demand at somewhat over last week’s prices. Bullocks fetched from £0 7s Gd to £l3 2s Gd per head, and cows from £G 2s Gd to £!). Quotations for prime beef, 25s to 27s Gd per 1001 b. Fat Sheep.—The market was well supplied with 2,435 head, 1,805 of which were crossbreds and 540 merinos. For the former 13s to 17s Gd per head was obtained, and for the latter lls to 11s 3d —or about equal to last week’s values.

Christchurch, Sept. 21

Wheat is without material alteration. Oats—Sales of milling oats have been made tip to Is Cd and Is 8d for superior lots. The easier tone noted in our last report still continues and buyers are not so willing to take uplines at full rates. Barley— A few quittances of fair malting and feed quality arc reported at 2s (!d to 2s rid and Is Gd to Is 9d respectively. Potatoes do not show the slightest improvement and continue exceedingly difficult to sell. (Bass seed is quieter, and we have to report a weaker inquiry; prices, however, are unchanged. Dairy produce —Butter is in full supply and prices are nominal. Cheese is quoted at -Id to qid. Haras and bacon remain the same. The stock market this week was rather dull. Sheep showed a drop, 2d per lb being the quotation. In cattle there was no improvement on last week's prices ; 21s per lOOlbs is the quotation. COLONIAL LOANS. Deferring to the position of the London money market, Mr William Westgarth, writing under date July 30, says:—“ The condition on the whole has been favorable to the Colonial Oovernment securities, although there has been also some adverse effect from revenue dcficicnccsin more than one instance. The most marked case has been that of Now Zealand, whoso large stocks, particularly the newer issues, have fluctuated repeatedly as the unfavorable financial advices above alluded to have been received, first by telegraph, and again in detail by the mail. Thus the last loan of £5,000,000 ( 5 per cents, 1889) after reaching about 110, fell back to 101 ; then rcascended to 108, falling back to 105, from which it is now at 105;f, gradually recovering. This stock is optionally convertible till next March into 1 per cents. These -1 per cents arc now at only 88, or quite 10 percent below the price of the highest 4 percents of the Australasian group, those, namely of Victoria and New South Wales. The New Zealand depreciation appears excessive and temporary. The 5 per cent convertible loan is 21 per cent lower, the inscribed! per cent loan is 2 per cent lower,the consolidated lives l.£ per cent lower, and the four and a Iralfs A per cent lower. Municipal and harbor loans—A rise of 4 per cent in Lyttelton Harbor sixes, a rise of 3 per cent in city of Dunedin sixes (both Issues), a rise ox 2 per cent in the city of Auckland sixes, city of'Wellington January and July sixes, and city of Dunedin lives, a rise of 1 per cent in city of Melbourne lives and Auckland harbor sixes. London, Sept 22. At the wool sales to-day, 8700 bales were offered making a total of 207,200 catalogued since the opening. There was a linn and active demand. New Zealarrd securities are falling to-day. Quotations are—s per cent; 10-10 loan, 1021; 5 per cent 1879 loan, 101. J. MELBOURNE PRODUCE. Messrs J. H. Clough and Co report under date Sept 15. Wheat remains at our last quotations ; 3s Old to 3s lid being obtained for good to superior, while Is can be got for prime. Barley. —We quote feeding at from 2s 2d. to 3s 3d, while sales of malting have been made at Is. Oats.—We have no change to note. Feeding is moving off at from 2s to 2s Id, and up to 2s 3d for superior lots has been obtained.