MONETARY AND COMMERCIAL.

Temuka Leader, Issue 2433, 3 December 1892, Page 4

MONETARY AND COMMERCIAL.

London, November 29. Mcllwraith and McEachern, a Queensland firm, have sent a circular to shippers using the Suez canal, to ascertain whether they are in favor of establishing a depot at Port Said for Australian frozen meat. The Admiralty have replied suggesting that when the contracts fall in in March purveyors oi Australian meat should tender. Private shipping firms are in favor of obtaining supplies from such a depot as that proposed. At the wool sales bidding is spirited* New South Wales combing averaged 10|d; South Australian greasy, 7d. At the wool sales to-day there wag strong competition for the new clips at current rates, but the old wools were neglected. A small portion of the Melbourne crossbred mutton ex Massilia sold at 3|d peril); ewes, 3d; merino wethers, 2|d. The lambs are of poor quality and unsaleable. No Zealand hemp ° ff^f d for sale at the last auctions. xua market is very quiet. Medium Wellington is worth £2G per ton. During the recent auction kauri gum (scraped) advanced 2s 6d, pickings 2s 6d, and chips 3s Gd. Good hard scraped realised £GS. Owing to the mild weather the butter market has fallen 4s. November 30. Wool sales are firm, and combing sorts are selling at high prices. Silver is quoted at 3s 3}d per oz. The total quantity of wheat and Hour afloat for the United Kingdom is 2.74.8,01)0 quarters and for the Continent 1,144,000 quarters New South Wales Treasury bills are a drug in the market, and it. is believed that scarcely any more will be sold. The American visible supply of wheat is estimated at 92,700,000 bushels. The financial press in England consider that Baron Rothschild's scheme is a practical measure of relief from a dangerous situation. Bkussels, Nov. 29. At the Monetary Conference Baron Rothschild proposed that the European Powers should combine to purchase yearly for five years £0,000,000 worth of silver at a price not exceeding 3s 7d per oz., and in the event of the price rising higher, purchases should instantly cease. His scheme has been referred to a committee. The Portuguese delegates have been instructed to act with the English representatives. The Conference has adjourned till Friday. Washington, Nov. 30. The United States Treasury says that the proposals of Baron Rothschild at the Brussels Monetary Conference,

if carried into effect, would mean forcing America to adopt the silver bfsis.