COMMERCIAL.

Temuka Leader, Issue 2316, 9 February 1892, Page 4

COMMERCIAL.

CHRISTCHURCH GRAIN MARKETS,

Messrs H. Matson & Co. (associated with the National M. and A. Company of N.Z., Limited), report for the week ending February Bth, 1892, as follows: The wet weather that prevailed during the latter part of last week is very unfortunate, coming, as it does, before the completion of harvest operations; and it is feared some damage will be reported in consequence. There is nothing of moment passing in the grain trade. A few odd lines threshed from the stook are on offer, but as prices are yet uncertain buyers are cautious. The Home market gives more encouragement to growers; but one point in their favor is the reduction in freights. Wheat.— There is nothing doing in the old, while the new is not yet available. Prices are spoken of at 3s 6d to 3s 9d as the probable opening rates. Oats. The market is rather weak at Is 8d to Is 9d for feed, and Is lOd to Is lid for milling, but should shipments again assume large quantities, we may see better prices later on. Barley. Malsters are holding off in the meantime, having fair stocks. Growers may, however, have the advantage of an export demand this year. Quotations may be given at 3s to 3s 3d for good to prime malting. Grass seeds.— Ryegrass continues to be offered freely at 2s to 2s 9d for farmers' samples, while town machine-dressed is procurable at 3s 6d to 4s. Cocksfoot is not yet marketable, and values are yet undecided. Dairy Produce.—The cables from London reporting a depressed market, with a drop in values, will affect prices here, meantime quotations are 6d to 7d for butter, and 3d to 4d for cheese. Quotations are f.0.b., sacks extra.

ENGLISH AND FOREIGN MARKETS,

London, Feb. 4,

The Bank of England returns published to-day, show the total reserve in notes and bullion to be £14,366,000, and the proportion of reserve to liabilities 42 per cent.

New Zealand 4 per cent, inscribed stock, 101; do., 3}, 92. New Zealand long-berried wheat, 43s 6d, market restricted.

Canterbury mutton, 4^d; Wellington, 4d; market active. Beef, fore-quarters, 3Jd; hind-quarters, 4£d. The hemp market is firm, and shows an occasional advance of 10s.

Butter, best factory-made, 112 s to 115 s; prime dairy-made, 100 s to 102 s. The market is depressed and flat owing to there being an over-supply.

South Australian wheat, 43s 9d, flat; Victorian do., 43s 3d, weaker. The English wheat market is weak and declining; the continental depressed, and the American declining.

Feb. 5. A fall has taken place in colonial stocks owing to the forced sale of bonds by insurance companies to meet heavy calls caused by the ravages of influenza. A small consignment of South African peaches, of medium quality but of good condition, reached 30s per dozen. Tho fruit authorities consider that the advent of T&smanian apples in the English market will afford- a test of what the demand in future is likely to be. These apples are the largest and fingsi jn the market. Both the supply of and the demand for American fruit are lower. There are splendid prospects for colonial apples, provided shipments do not exceed 15,000 cases per fortnight. Feb. 6. At a meeting of the New Zealand Loan and Mercantile Agency Company, Sir John Gorst said that; the company had had a splendid year. Woo} of the value of £2,000,000 had been imported. The alliance with Horsfalls had proved beneficial in developing the produce market. He expressed the opinion that loans were preferable to mortgages, and mentioned that three-quarters of the 4 capital of the company was sunk in the color?' 68, Referring to the change which the New Zea lq,u< * Government had made in the incidence or * 4U »t»? n » he »*<} *J ia * the new system was disastro""; aud t zS other companies predicted the withdraw! of capital from that colony. The meeting passed a resolution in favor of future reserves being invested in Government securities. The Right Hon. A. J. Mundella, one of the directors, said that the depression in shares was due to the unpaid liability, and he suggested that a reduction should be made in the valuo of shares. The meeting was enthusiastic in praise of the manner in which the directors had conducted the affairs of the company. Mr Dibbs' extensive conversion scheme is regarded in financial circles in the city as impracticable, and there is thought to be more probability of the rate of borrowing being increased than diminished. The Standard says that if the Cape fruit trade is extended it may possibly destroy the Australian trade. The climate and cost of production are the same in the two countries, but in the distance which the fruit has to be carried Cape Colony has a decided advantage. The Standard adds that America may possibly compete in the trade in the future. Berlin, Feb. 4. A German loan of £8,000,000 and a, Prussian loan of £9,000 : 000, at 3 per cent.'

will shortly be issued. The minimum is fixed at 83J.

The Canterbury Farmers' Co-operative Association have received the following cublegram from their London office, dated sth February :—The present value of prime Canterbury mutton is 4£d, market advancing; lamb,6d.