COMMERCIAL.

Temuka Leader, Issue 2293, 15 December 1891, Page 4

COMMERCIAL.

OAMARU WOOL SALES. Oamaiut, Dec. 11. The New Zealand Loan and Mercantile Agency Company held the first of their series of wool sales to day. The bidding was spirited, and the prices realised were equal to those obtained at other sales in the colony. Greasy went to and scoured to Is 4d. Several of the vendors, however, would not accept the prices ruling, believing that the Home market would improve.

TIMARU WOOL SALES. The New Zealand Loan and Mercantile Agency Company report holding their first sale of the season on Wednesday

last, at the Assembly Rooms, the attendance of buyers being the largest yet seen in Timaru. Considering the unsatisfactory state of the London wool market, producers ought to be well satisfied with the prices obtained. All Mean well gut up half and crossbred was

in request and competed for with mo spirit than wo have yet witnessed m Timaru. Although prices apparently were only a little below last year s opening rates, it must be remembered that the wool this year is fully M to Id better value, being much cleaner, better grown, and not so heavy in the grease. Our catalogue contained 544 bales and 62 bags. We had the pleasure of obtaining the top price of the sale, viz., for halfbred, 9fd, crossbred BJd, pieces 7d, locks 4Jd. For all other classes we obtained values fully up to, if not beyond, the average. CHRISTCHURCH CORN EXCHANGE. The following is the Corn Exchange report (perN. P. Meyers, Secretary), for the week ending Dec. 11th : The local wheat market remains stationary; prices are well maintained, but there is no inclination on the part of buyers to advance values. Oats a ■ fair amount of attention has been given to this grain, the demand for milling being the most pronounced. Barley is in a somewhat peculiar position; the demand is good, but there are no parcels of prime quality offering. Grass seed is not enquired for at the moment. The prospects of good samples for the ensuing season seem almost assured. Dairy Produce—Butter is in good demand foxexport. Cheese (new) is hardly matured enough to be iu the market. Quotations are as follows :

Wheat—Prime milling, Tuscan, 4s 10c!; pearl, 4s 9d ; hunters, 4s Bd. Oats Milling, Is lOd to 2s; short heavy feed, Is 9d to Is lOd; Dauialx, Is 8d to Is 9d; long and inferiox-, Is Gd to Is 7d.

Barley—Prime malting, 3s 3d; second qxxality, 2s 6d to 2s 9d ; feed, Is lOd to 2s 3d.

Beans, 3s. Peas—Haxxd threshed, Blue Prussiaxi, 3s 2d to 3s 3d ; feed, 2s 9d to 2s lOd.

The above quotations are those paid to farmers, f.o.b. Lyttelton, sacks extra.

MONETARY AND COMMERCIAL,

London, Dec. 10. The American visible supply of wheat is 62,200,000 bushels.

The total amount of reserve in the Bank of England is £15,168,000. The proportion of reserve to liabilities 43-31 per cent.

Consols ( Jy ; p New Zealand 4 per cent, inscribed stock 10Hd; per cent, inscribed stock ( Jl|. New Zealand long-berried wheat, 4os Gd. The market is quiet. For off coast cargoes sellers ask 44s Gd, but buyers are only willing to give 435. Canterbury mutton, 3Jd. Beef, fore-quarters 2|d. New Zealand hemp is quiet, and prices are unchanged. Colonial barley, 31s Gd. Oats, fine, 80s Gd. Adelaide wheat, 4Gs 3d. The market is flat. Victorian, 4os 9d, weaker. Wool remains firm, and prices show no change, Dec. 11. Colonial stocks are improving owing to the general impression in financial circles that the colonies have recognised that it is desirable to cease borrowing in order to recover their credit. Justice Sir J. W. Chitty has authorised the reduction of the capital of the National Bank of New Zealand. Dec. 13. The financial journals are generally of opinion that the new tariff in Europe will not have any injurious effect on England. Berlin, Dec. 11. It is reported in the city that the Vienna Commercial League would be willing to include England in the treaty on condition that the latter isolated France. General Caprivi, in his speech on the treaties in the Reichstag, said that the Triple Alliance would be unable to live under a condition of economic warfare. He asserted that the loss of revenue to Germany by the new treaty would be under £1,000,000. The wars of the future would be fought on the tariffs. The ratification of the treaties by large majorities is certain. Dec. 12. Germany has reduced the duty on American butter 15 per cent., on wheat and rye 4 per cent., and on oats 371 per cent. Vienna, Dec, 11.

The Austrian Government have ratified the commercial treaty with the other two countries of the- Triple Alliance.

The Canterbury Frozen Meat and Dairy Produce Export Company, Ltd., iiave received a cable advice from London quoting North Canterbury mutton at 4 l-16d per lb, market steady.