COMMERCIAL.

Temuka Leader, Issue 2728, 23 October 1894, Page 4

COMMERCIAL.

—. —♦ 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 : Owing to the boisterous weather and heavy rain in the morning the entry of horses was small, and the few sales effected were not of sufficient importance to warrant reporting. We have received notice that a buyer for light draughts suitable for trams will be at Tattersall's on Saturday first. MONETARY AND COMMERCIAL. : London, October 16. Sir W. V. Harcourt favors the suggestion of the Treasury that Victoria should continue to purchase supplies of silver and bronze from the Imperial Mint, accounting for the sale and retaining a sufficient profit to recoup the colony for loss on the gold coinage. October 17. At a meeting of Dalgety & Co. the chairman stated that the advances upon station property amounted to £4,250,000. It was intended in future to increase the amount of invested reserve. Business was increasing; terminable debentures to the amount of £250,000 had been created, but it waß not intended to issue stock except at 3£ per cent. October 18. The total quantity of wheat and flour afloat for the United Kingdom is 2,030,000 quarters, and for the Continent 1,090,000 quarters. National Bank of New Zealand shares, 15s. It is expected that the dock companies will shortly erect thawing premises, and that fhe recent invention of Mr Nelson will be adopted, The authorities of the War Department have inspected Nelson's mechanical thawing, and express themselves well satisfied at the result.

The estimated visible supply of American wheat is 98,100,000 bushels. The porninittee of British creditors of the Mercantile Finance Trustees Agenoy Company of Australia, together with Mr Stewart, the' official receiver, purpose urging the Melbourne liquidators to bring a civil action for the recovery of advances made to the Melbourne direotors. October 19. Consols, 101}. Three months' bills are discounted at f per pent. New Zealand 4 per cent inscribed stock, 106 ; 3J's, 101*. New Zealand long berried wheat, ex warehouse, quiet, 235, nominal; South Australian wheat, ex warehouse, 245; Victorian do, 23s 6d. New Zealand frozen mutton, first quality, 3gd per lb ; second quality, 2fd ; lamb, first quality, sd. At the kauri gum sales, 5300 packages were offered and 3300 sold. Prices were irregular and the average was from 2s 6d to 5s decline. Three-quarter scraped £3 16s; half-Bcraped, £2 8s; pickings, £1 16s. The stock in hand U 2740 packages. Sijyer, 2s 5d per oz. A shipoiant of Australian hares brought 2s 6d each. ctober 20

The English, Scottish, and Australian Bank shows a gross profit for the year of £164,000, leaving a balance after paying interest on debentures and deposits of £IO,OOO. The liability of the old bank has been redupe.4 by £I2,QQO. It is reported that Colonel North's syndicate which purchased the Wealth of Nations Mine at Coolgardie, has issued a prospectus of the company with a capital of £700,000. Thp American meat companies demand that Smithhoid ,«hou).d abolish the ancient pustom oj: abating £1 on rmartpr of beef. The London butchers Tracje Society are protesting against the proposal as they fear that the colonial importers will follow the American example, which they declare would result in a loss to them of £500,000 October 21. The price of English wheat in the market U £7 8 MVIEHNA? Oct. 19. The Central Sanitary Council of yionna have decided in favor of permitting the importation of Austiulian meat subject to stringent precautions against disease (Jawutta, Oct. 18The Bombay Miiut iscofnjngan English dollar to circulate in Hong Kojig «Qd the Straits Settlements, in order to prevent a currency famine. Melbourne, Oct. 19. Negotiations are almost completed for the amalgamation of the Colonial Sugar Refining Company aud tho Australasian Sug«r Refining Company. The new company will be conducted by t)?e Cohjinjal.

October 20. ' The Government has increased the price of 4 per cent, debentures to a premium of 3 per cent., in addition to interest, accrued from July Ist. No,inscribed stock is at present avail? ble, but it is intended to ask Parliament t( authorise a further issue. Adelaide, October 17. Wheat, 2s OAd. Flour,; roller-made, £5 7s 6d to £5 10s. Bran, 6Jd to 6jd ; pollard, 6*d to 6sd. LONDON FROZEN MEAT TRADE. The following is the report of the Frozen Meat Trade (per A. Towers), for the month ending Sept. 7,th, 1894: There is a distinct improvement to report in the Colonial Meat Trade since my issue of August 10th, and this improvement is seen in all respects except in New Zealand mutton, which remains at the old abnormally low level. . The," Ruahine " and " Gothic," which are now in dock, have considerable quantities on board, and values cannot be raised until some of the present stocks have been further reduced. North Canterbury mutton keeps very steady at the .present rates, and other brands are quoted from 2s upwards. With Australian mutton at enhanced values, the New Zealand qualities certainly Bhow better value, and should be a point or two higher than present quotations. The autumn season is now at hand, and with the existing stocks there should be an increased demand. Lambs - Owing to small stocks are hardening, in .value, .and. there is every prospect of the season finishing with high quotations. Beef —There is a better tone to report in beef, and holders are very firm at current rates. Reports are appearing in various papers as to the resul a of experiments in thawing beef. The experiments are not perfect yet, and in the meantime varied opinions are expressed as to their success. There is no doubt as to the value of any process which frozen meat into a serious competitor with American chilled beef, but the maiu point to be Bolvfijl is this: "Is it'" possible to bring back colonial beef into the same condition as it was before it ,was frozen ? " This question can only be solved after exhaustive trial, and at present appearances are not altogether in favor of this being achieved. The present quotations are: —

Mutton—New Zealand, best North Canterbury, 2s 4d to 2s 6d; medium and good grades, 2s to 2s 3d; Australian and Queensland sheep, Is 8d to Is 9d, per 81b. Lambs—Best North Canterbury, 3s 6d to 3s Bd, per 8fl>; other brands, none. Beef—Queensland, hind quarters, Is lOd to Is lid ; fore quarters, Is 8d to Is 9d, per Bfc.