COMMERCIAL.

Taranaki Daily News, Volume LII, Issue 167, 9 August 1909, Page 4

COMMERCIAL.

LONDON MARKETS. Dalgety and Co., Ltd., report having received "the following cable message from their London house, under date sth inst.: Fro,.ni meat—For frozen mutton and lamb tne tendency is in favor of buyers. Quotations arc as follow: —New Zealand prime crossbred lamb, Canterbury, heavy, 2%d, light 3%d; North Island, heavy 2%d, light S'/od. New Zealand prime crossbred mutton, Canterbury, heavy 2>/ 4 d, light 2%d; North Island, heavy 2d, light 2'/»d. Beef is in fair demand. Quotations for New.Zealand prime ox beef, fores, is '-% d, and for hinds 3%d. MONEY MARKET. Mr. C. E. Major, mortgage agent, Hawera, reports:—The silver lining to the financial cloud is becoming more apparent with the approach of spring, importers and consumers have applied the brake with some effect, the figures ior the half-year ending 30th June show, ing an excess of S'/s millions of exports over imports. (The half-year ending 30th June, 1008, showed an excess of only £1,700,000.) The financial stress has consequently been much relieved, and the banks throughout tile Dominion are not now so earnestly urging their customer;,' to obtain accommodation from any source other than from their tankers. Money for investment upon mortgage is steadily increasing m volume. Applications for advances"upOn good security that were waiting a favorable response for many months past are now obtaining fulfilment. Few large advances are as' yet being dealt with. During the past month T negotiated several advances in sums varying from £2500 to £IOOO at 5 per cent. This in itself is a significant indication of the slackening of the shortage of specie. The chief factor for congratulation is that the check to public and private extravagance has been salutary, and that confidence, in becoming reestablished, will promote enterprise. In cverv-day language, "money is not so tight."