TIMARU MARKETS.

Temuka Leader, Issue 2530, 18 July 1893, Page 4

TIMARU MARKETS.

The Canterbury Farmers’ Association, Limited, report as follows for the week ending Friday, July 14th, 1893 ; _ Wheat—The tone of the market is quiet in face of the adverse news still reaching us from the European market, and prospects for shippers are npt bright. Offerings are becoming limited, very little grain remaining in the couutry distxicts unthreshed. —Velvet (prime), 2s 8d to 2s 9d; tuscan (prime), 2s 7d to 2s od ; red chaff (prime), 2s s£d to 2s 6£d; fowl wheat, Is lOd to 2s Id, ou trucks. Oats —Reports from Otago bear testimony to the shortness of supplies in that quarter, which is also very apparent in Canterbury. Holders are firm and reasonably look for still higher rates in the near future. —Prime milling, 2s 2gd ; short feed, 2s Id ; tartars, 2s 2d j Danish, Is lOd to Is ll*d ; duns, 2s Id, f.o.b. Potatoes —This article continues very firm, with a further advance. North Canterbury is similarly situated to the South, and in some quarters it is believed that supplies are barely sufficient for local requirements and at the same time supply North Maud demands.—Derwents, 70s to 72s 6d (couutry stations), or 80s f.0.b., sacks included; kidneys, £5 to £5 XOs.

AUCTIONEERS’ REPORT, The Canterbury Farmers’ Co-operative Association, Limited (per Mr J. Mundell, auctioneer), report ou the horse market at Tattersall’s on Saturday as follows : Our entry comprised 43 horses of all classes. The demand was good and competition keen for all young sound horses, either draught or light harness, and we had no difficulty in selling twothirds of our entry at the following quotations : Draughts, young and sound, with trial, £l7 10s, £l9, to £22 ; do, light and aged, £ll 10s, £l3, to £l4 10s; fight harness sorts, £ll 10s, £l3, to £l4; hackneys, £8 to £ll 15s.

CHRISTCHURCH CORN EXCHANGE. The following is the Corn Exchange report (per G. S. Hickman secretary), for the week ending July 14th ; With the beautiful open weather of the past week farm work has been pushed ou with vigour ou all sides. Autumn sown wheat is looking all that can be desired, and good progress is being made with the winter sown-fields. The breadth of wheat planted is much contracted this year, but it is anticipated that tuscan will receive more attention in the spring. The market for this cereal is still unsatisfactory and cables from Home give shippers but poor encouragement. Dun oats have been more generally sown this season. Oats are offering very sparingly, and quotations are firm. There are a few enquiries for good seed barley which is difficult to obtain. Potatoes are still advancing and the quantity offering is limited. Cowgrass is having a brisk trade at quotations. The current quotations for the week are as follows : Wheat —Tuscan, 2s lid; pearl, 2a lid; hunters, 2s 9d; seconds 2s to 2s 4d. Oats—Milling, 2s 2d to 2s 3d; short feed, 2s to 2s id; inferior, is lOd to is lid. Barley—Malting (nominal), 4s; feed, 2s 6d to 2s Bd. Beans —3s to 3s id. Peas—Prussian, 3s to 3s 3d. Grass Seed—Machine-dressed, 3s 9d to 4a; do farmers’ lines, 3a to 3s 6d. Cow grass—Beat, Bd. Cocksfoot—Best, 3£d. Potatoes —Derwents, 80s; kidneys, 85s, f.0.b., sacks included. Butter —Fresh, lOd to lid; keg, Bd. Cheese—3|d to 4£d per lb.

MONETARY AND COMMERCIAL. London, July 13. At a meeting of of the Union Bank of Australia it was (coded to recommend the declaration of a divK. p- hd of 8 per cent, for the year, and to carry forward a sum of £15,000 to next year’s account.

On the Loudon Stock Exchange to-day the quotation for Indian Government 4 per cent, rupee paper was £69 17s 6d per per 1000 rupees. At a meeting of the creditors of Goldsborough, Mort & Co., it was resolved that reconstruction was desirable if a satisfactory scheme was presented. Mr Stewart, the Official Liquidator, states that owing to depreciation in values, the reserve fund of the company must be considered to have been entirely absorbed.

Justice Sir R, Y. Williams has sanctioned the reconstruction scheme of the London Chartered Bank of Australia.

At the wool sales merino are slightly dearer.

The American visible supply of wheat is 72,000,000 bushels. A Victorian cargo of wheat, March shipment, has been sold at 29s 3d.

July 14. Mr Alexander Young has been appointed Official Receiver to the Loan and Mercantile Agency Company.

Several failures have occurred on the Exchange, mainly in connection with the American market.

A petition to wind up the New Zealand Loan and Mercantile Agency Company will bo heard on the 21st iust.

It is stated that the books of Messrs Goldsborough, Mort, and Co., show that advances amounting to £3,410,000 were made, and that that amount is divided among 154 accounts. Ten of the largest accounts average £149,000. Financiers in the City favour a suggestion that the colonies should invite an English financial expert to advise on the financial situation of Australia. It is suggested that Sir Reginald Earle Welby, Permanent Secretary to the Treasury, Mr Edward W. Hamilton, Assistant Financial Secretary to the Treasury, or Sir Eobert G. C. Hamilton, ex-Governor of Tasmania, would be suitable gentlemen, since the possibility of securing the services of Mr Goschen, ,ex-Chancellor of the Exchequer, or of Sir John Bifbbock, is out of the question. Tt is believed that the British Government would assist to facilitate the matter. The best critics admit that it would be unwise to altogether stop public works and the construction of railways. Bord Justices Sir N, Bindley, Sir JEL C, Bopejz, and Sir A. B. Smith, in dismissing the appeal against the reconstruction scheme of the English, Scotish, and Australian Chartered Bank, considered that the only way to pay the creditors of the bank was to keep the institution open. New Zealand 4 per cent, inscribed stock, 103 j, 3' s per cent, ditto, 94. Frozen mutton, first quality, 3fd per lb ; second ditto, 3§d; lamb,first quality, 4Jd ; beef, fore-quarters sd. South Australian wheat, ex warehouse, is fiat at 325; Victorian wheat, ex warehouse is flat at 31s 6d. New Zealand long-berried wheat, ex warehouse, fiat at 295. At the sales of kauri gum the demand is restricted, and prices show a decline of 2s fid. Fine hard scaped, £8 10s; three* quarter scraped, £4 ss,

New Zealand hemp—Quotations are unchanged. At the wool sales competition is good and prices remain firm. The best of the Victorian consignments were freely withdrawn. July 15. At a stormy meeting of the Agency Exportation Company. .of Australasia, after a motion to reduce the capital by one half had been defeated, a resolution was carried to wind up voluntarily. The New Zealand Trust and Loan Company have declared a dividend of 4s 6d per share. Paris, July 13. The Chamber of Deputies by a majority of 72, resolved on the total repeal of duties on wines, beer, and cider, in lieu of the partial repeal proposed by the Government. This will involve a deficit of 150,000,000 francs. Washington, July 13. A Convention sitting in Colorado denounced the repeal of the Sherman Silver Purchase Act, as part of a conspiracy in which the Indian Government had joined. New York, July 14. The great car works in Indianopolis have failed. 900 "men are thrown out of work, July 15, The Kansas City National Bank has suspended payment. Its liabilities amount to 1,000,000 dollars.