TIMARU MARKETS.

Temuka Leader, Issue 2545, 22 August 1893, Page 4

TIMARU MARKETS.

The Canterbury Farmers’ Association, Limited, report as follows for the week ending Friday, August 18th, 1898 : On Tuesday we held the second grain sale of the season. The attendance of buyers from the south was noticeable, but northern firms wore unrepresented. Notwithstanding the large quantity of grain c talogued little was disposed of, farmers’ reserves militating against selling. Wheat was passed, buyers not being anxious to purchase unless on a par with Home quotations. Oats were on the dull side, but no decline can be noted. Large shipments are going forward to London from Otago. In consequence of the prolonged drought and the low-ruling freights it is expected the colonial stocks will be considerably lightened. Potatoes have suffered considerably, and the future is must uncertain. Operations are limited, buyers only operating from hand to nmuth for actual orders. Prices ruling in Sydney are equivalent to-day at about £4 f.0.b., sacks included. Quotations are as follow :

Wheat—Velvet (prime), 2s 7d to 2s 8d; tuscan (prime), 2s 6£d t-« 2s 7Jd; red chaff (prime), 2s s£d, on trucks Timarn. Oats—Canadians, 2s 4£d; duns, 2s 3d ; dauish, 2s 2d to 2s 4d, f.o.b. AUCTIONEERS’ REPORT. The Canterbury Farmers’ Co-operative Association, Limited (per Mr J. Mundell, auctioneer), report on the horse market at Tattersall’s on Saturday as follows : Our entry comprised 17 head, principally g ,od stamps of draught horses, suitable for farm work, for which there was good demand, and we sold the major portion of our entry at the following quotations : Draughts, young and sound, £lB, £l9los, £2O, to £23 10s; do, light and aged, £9 10s to £l2; light harness sorts, £l2 to £l3 10s ; hackneys, £3 to £9 10s.

MONETARY AND COMMERCIAL

London, August 17

The liquidator of the London Chartered Bank of Australia suggested, amid applause, that the Melbourne directors and manager ought to bo prosecuted. The newly constituted English, Scottish, and Australian Bank, limited, has reopened. At a meeting of the creditors of the Federal Bank, Mr Stewart, the Official Receiver, said that after the land boom in Melbourne had burst, the directors advanced money to themselves and their friends, arid many advances were granted by the manager without the authority of the board. August 18.

New Zealand 4 per cent, inscribed stock, 105 ; 3£ ditto, 94£. New Zealand long-berried wheat, 28s 6d, market flat. Adel ide wheat, 31s, quiet; Victorian ditto, 29s 6d, market restricted. The estimated American visible supply is 67,047,000 bushels. New Zealand mutton, first quality, B||d; second, 3gd; lamb, first quality, 3Jd. The excessive heat is depressing prices. The hemp market is depressed. No New Zealand has been sold.

Danish butter, 120 s. It is impossible at present to forecast prices that will rule in November. The heat has reduced the supply and checked the demand, and the mar set is stagnant.

Splendid weather helps the British harvesting, and the grain is in excellent condition.

The sum of £BOO,OOO in gold has been despatched to New York. Paris, August 19.

Immense heat has ripened the grapes in Medoc and Bordeaux in four days. The vintage this year is unusually large. The French harvesting is finished, and the yield is estimated at 35,000,000 quarters.

Calcutta, August 17. A 2,000,000 rupee paper loan has been issued at a minimum of 94J. August 18.

Surprise and indignation are expressed in India at Lord Kimberley permitting the Council’s Bills to be sold below 16d. The market is demoralised, and chambers of commerce are protesting. New York, August 19.

Financial affairs are depressing the American wheat market, and despite the unfavorable crop, the reports give a decreasing visible supply. There is a drug in gold in Chicago, owing to the quantities brought by visitors to the Exhibition. Four hundred and ninety-five failures were reported in the United States in a week, as against 95 last year. Four banks in Leraars, the capital of Plymouth, have suspended. Thirty-three per cent, of the cotton mills in the United States are closed, owing tP the depression. Apelaidb, August 18.

The Legislative Assembly passed the Butter Bonus Bill, but inserted a new clause that the bonus shall not be paid till the butter is lauded at its destination in a satisfactory condition.