COMMERCIAL.

Temuka Leader, Issue 2323, 25 February 1892, Page 4

COMMERCIAL.

TIMARU WOOL SALES. The third and last of the wool sales of the present season was held in Timaru on Tuesday in the Assembly Rooms, before an average attendance of buyers and a small muster of farmers. Of the total quantity offered (1178 bales), only 300 were crossbreds, the balance being merino. The following were the catalogues offered :—N.Z. Loan and Mercantile Agency Co., 806 bales; Farmers' Co-operative Association, 201 bales; National Mortgage and Agency Co. and J. Mundell & Co., 86 bales ; Gracie, Maclean & Co., 51 bales; Guinness & LeCren, 34 bales; total, 1178 bales. Considering the low prices at present ruling in the London market, and the quality of the wool offered, the sale was considered to be satisfactory. Of the total offered, under 200 bales (principally merino fleece) remain unsold. Halfbred. sold at 6d to Bd, crossbred and merino 5d to 6£d, sandy do 4£d to 5 Jd, Ist pieces do s£d to sfd, 2nd pieces do 4d to sd, locks do 2£d to 3£d. ENGLISH AND FOREIGN MARKETS. London, Feb. 21.

The Observer says that colonial stocks are being steadily absorbed in small amounts for the purpose of legitimate investment. The total quantity of wool catalogued at the series just closed was 314,000 bales, of which 291,400 bales were sold, including' 167,000 bales to continental buyers and 16,000 to American. The course of prices has been irregular compared with closing rates at the December series. All classes of merino are £d lower and fine crossbreds Id lower. Prices were on an average of £d lower than those ruling at the December sale, but superior lambs brought more, although the top prices were below those obtained in 1886. The wool trade is depressed, and an early revival is not expected. Tallow is unchanged.

The English wheat market shows a general advance of 6d. The Continental aud American markets are advaning. For Australian wheat on passage sellers are asking 41s 3d; buyers refuse to give more than 40s 3d.

The Economist disputes the correctness of the figures adduced by Mr H.H. Hayter, Government Statist of Victoria, with regard to the private wealth of that colony, and contends that the excess of private wealth over liabilities is under £40,000,000. The journal goes on to say that the fact of the colony curtailing its imports and expanding its markets is * a good sign. Feb. 22.

Investors are alarmed that the issue of Treasury bonds will increase instead of relieve the necessities of the borrowers, and a report which is current, to the effect that the New South Wales Government are prepared for a fresh issue on the first opportunity, has irritated the market.

Beblin, Feb. 21

The North German Lloyd's shipping Company have decided not to pay a dividend for the past year, and to withdraw 1,000,000 marks from the reserve fund. Hobart, Feb. 23.

The total quantity of apples available for export this season is 200,000 bushels. Capetown. Feb. 22.

The million loan issued by the Cape Government has been over-subscribed locally.