COMMERCIAL.

Temuka Leader, Issue 2836, 2 July 1895, Page 4

COMMERCIAL.

TIMARU MARKETS. The Canterbury Farmers’ Co-operative Association, Limited (per Mr J. Mundell, auctioneer), report on the horse market at Tattersall’s yards on Saturday ; —Our entries comprised 28 head, all classes. The demand for useful farm horses continues good, two-thirds of our entry being sold at the following quotations : Draughts, young, with trial, £l3 10s, £l4, £ls 10s, £l6 10s, to £2O; do light aud aged, £5 10s to £7 ss; light harness sorts, £9 10s to £lO ; hackneys, £5 to £6 10s. We sold a Clydesdale mare privately at a satisfactory price to the vendor. At Timaru very little business was done during last week. Quotations are as follow ;—Milling wheat, 3s 5d to 3s 9d; fowls’ wheat, 3s 3d to 3s 6d. Oats are saleable at from Is Od for danish, to Is lOd for Canadian, f.o.b. Flour in sacks, £9; bran, 70s ; pollard, 80s per ton. There was a large attendau ce at the grain and produce sale at Messrs Mill «fc Co.’s store, Timaru, on Saturday afternoon, held by Messrs Guinness & LeCren, buyers being present from north and south. Mr E. R. Guiuness was auctioneer, and expressed his pleasure at seeing so many present at this the first grain sale of the season held at Timaru. Following are details of the sale:— Oats—26 sacks Danish, Is 8d per bushel, R. McKuight; 90 do. Is Bd, W. Evans ; 252 do, Is 7W, passed; 1000 do, la 9d, W. Evans; 495~d0, Is 7d, passed; 2000 do, Is 7d, W. Evans ; 152 do, Is Bd, passed ; 88 tartars, Is 7jd, W. Evans; 241 do, la 7d, passed ; 172 do, Is Bd, passed ; 56 do, Is Bd, W. Evans; 32 do, Is 9d, W. Evans ; 120 do, Is Bd, passed : 128 Duns, Is 9d, J Lees; 100 do, Is Bd, passed ; 200 do, Is 9d, passed; 360 Triumph, Is Bd, W. Evans; 365 Early Angus, Is Bd, passed ; 99 Canadian, Is Bd, passed; 100 Duns, Is 9d, passed. Wheat —49 sacks red chaff, 3s 6d, Ritchie ; 147 do, 3s sd, W. Evans; 154 pearl aud red chaff, 3s J4£d, W. Evans; 3900 red chaff, 3s 6Jd, W. Evans ; 188 do, 3s 6d, W. Evans; 208 do, passed, 3s 6d; 2550 do, passed, 3s sd; 358 do, 3s 6d,W. Evans; 28 do, 3s 3d, Wood ; 6 do, 3s 6d, Ritchie; 12 do, 3s 4d, passed ; 11 champion, 3s 3d, W. Evans ; 746 pearl, 525 fed chaff, 608 tuscan (one lot) 3s s£d, passed; 56 and 587 tuscan, 3s 6d, W. Evans; 9 velvet, 3s 7Jd, 1500 tuscan 3s 6J J, 640 aud 760 do, 3s s£d, 1500 do, 3s 6Jd, W. Evans. Seconds: —29 tuscan, 2s 9d, Ritchie; 19 do, 2s Bd, Brooksmitb 60 velvet, 3s Id, Ritchie ; 46 tuscan, 3s 2d, Hudson ; 28 do, 3s, Reilly ; 10 do, 2s 4d, Brooksmith ; 23 do, 2s 9d, passed ; 6 sacks large seconds, 2s 6d, Ritchie; 6do small, 2s Id, passed ; 4 sacks velvet seed, 3s 9d, Caird. Barley—32 sacks chevalier, Is lOjd, Orr; 197 cape, passed, Is 8d; 1507 chevalier, in five lots, passed at 2s 2J and Is lOd. Grass and other seeds, 1580 sacks in all, were passed, there being next to no demand. A line of 150 bags potatoes was passed in at 36s per ton. MONETARY AND COMMERCIAL. London, June 27. Consols are quoted at over 107. The rise is attributed to the change of Ministry. The Bradford wool market is very brisk. Merino tops have risen id, and inferior crossbreds Id. Butter is firm, owing to the scarcity of Irish, aud the prospects of drought. Danish is four kroner higher. A Warrnambool cargo was cleared at 76s to 80s, some parcels bringing 84s. Cheese is firmer; colonial,26s to 40s. The prospectus of Nelson’s Produce Company will bo r-sued in about ten days. Consignors proportion of surplus profils will be about 75 per cent. The Manchester Committee which is negotiating for a direct trade in frozen meat, states that if freights are sent straight to Manchester instead of via Loudon, £1 or £2 per ton will be saved throughout the district, including lauding charges aud delivery. The Cromwell Gold-mining Company of New Zealand with a capital of £IOO,OOO has been floated. June 28. New Zealand long-berried wheat, ex warehouse, nominally, 275. The weekly returns of the Bank of England, published to-day, show the total reserve to be £28,698,000, aud the proportion of reserve to liabilities GL.B4 per cent.

NewZealaudfrozen mutton, fii’gt quality, 3ii4 per : second quality, 3id. Lamb averages 4 jo. TffOfg is jxo Australian meat in the market. T!?o New Zealand hemp market is unchanged. South Australian wheat,-ex warehouse, 27s Gd ; Victorian, restricted,27s Gd. For an Australian wheat cargo on passage sellers ask 25s 4£d: buyers offer 24s 7Ad. Colonial oats, fine quality, average 25s 4Jd 1 • 1 Peas, 25s 4^d. Silver, 2s 6£d. London underwriters have discussed the difficulty of the live cattle trade, audhavo drawn up rules for shipments on the lines of fhe American rules, and those are to be submitted to the Boar 4 of Trade. If they are adopted the underwriters will agree to insure A ustralian cattle at about 8 per cent. A chilled beef syndicate is arranging for a shipment fIW IJueenshpd June 2!). fh o ml o3 submitted to the Board of Trade by the Association apply to all vessels carrying live cattle between Australia and Groat ilritain. It is proposed that where more than two cattle are carried they must be in charge of a responsible foreman, with an assistant fop every twenty-live bo sis. The foreman must liayfl a certificate that he is properly trained in the roaring and feeding of cattle. No cattle over five years’ old are to bo shipped, and all wild cattle are to have at least one week’s handling before being placed on board ship. If the lizard of 'Prado approve of the rules 'hey will 1)6 submitted to the Colonial Government. The premium with ail risks is fixed at ton guineas per cent, with two percent rebate, if the claim does not exceed 5 per cent. The rate will bn raised to fifteen guine m per cent, forcattle coming through ;!;n lied Sea between May loth and Angn.-A Jure 30. Aii colonial slocks have risen from j to k per cent. Queensland scrip is quoted at 81 per cent, premium ; West Australian at G.J do., and Now Zealand at ol do. The Perthshire with the Queensland cattle has arrived at Gravesend. Eight j beasts had died since the vessel left New Zealand, some of them from accidents. All the animals have wasted 1) dly on tho passage. Heavy seas washed over the vessel lor 24 hours, and the water well on

deck was smashed. The fodder was exhausted when the steamer was at Las Palmas, aud for the last 30 days the bullocks were on half rations. Shanghai, June 29. China is willing to concede Russia and France half the indemnity loan, provided Great Britain and Germany are allotted the other half. Sydney, June 28. The wool sales begin next week, after the conclusion of the Sheep Breeders’ Association’s show, which is to be held on the 29th iust. and July Ist and 2nd. Entries for the stud sheep sales are heavier than in previous years. The New Zealand catalogue is very heavy, and embraces all the leading breeders. Melbourne, June 28, At the Banking Conference, Mr Turner, general manager of the Commercial Bank of Australia, stated that the banks had reaped no profit from the note circulation since the note tax had been introduced. He believed that the banks were willing to surrender the privilege, but they must have a note currency of some kind. He thought that the issue of State notes would be satisfactory to the public, but disappointing to the Government, because the highest point the Victorian note issue ever reached was £1,400,000, and it averaged £1,200,000 at present. His bank made no profit from current account credit balances because the whole amount was held in coin. The banks generally were adopting the view that they must enlarge their capital with the growth of business, and a safe rule to lay down was that the deposits should not exceed double the amount of a bank’s capital. He set down the amount of gold held by the banks at about £8,000,000, which he considered ' was sufficient for the business of the country. He did not think that the English system of restricting business to what was called liquid assets suitable for the colonies. He advocated that they should do a land mortgage as well a regular commercial business. All the banks had made considerable advances on laud, aud the money in many cases was practically locked np. Fully 80 per cent, of the agricultural holdings were mortgaged, the great bulk for as much as they could carry. The Government have appointed a Commission to inquire into the alleged discovery of foreign fats in Victorian butter in London. The Customs revenue for the year ending to-morrow shows an increase of £125,000 comphred with last year, and is an iucreseof £106,000 upon the estimate. Tenders have been accepted for the erection of a pig-slaughtering and curing factory, capable of killing 500 pigs daily. It is anticipated to open a trade with Europe, as well as supply the local markets.

New Soqth Wales 4 per qeuts 117 33 J3 w 3J 33 1084 Viotoriau 4 33 33 109“ >» *•» 34 3 J 33 102 South Australian 4 33 35 111 33 33 3i 33 33 104 it Queeuslaud 4 33 33 11U )) 3* 33 33 103 S New Zealand ... 4 >3 33 1J2J u .?? Tasmanian ;r - 34 33 33 105 33 >3 104| West. Australian Consols, 107J;. 4 V 119