COMMERCIAL.

Temuka Leader, Issue 2893, 12 November 1895, Page 3

COMMERCIAL.

TIMARU MARKETS

The Canterbury Farmers' Co-operative Association, Limited (per Mr J. Mundell, auctioneer), report on the horse and cattle rrarket at Tattersall's yards, on Saturday as follows: —A small entry of horse 3 passed u cider the hammer. The demand for draught horses is easier, but upstaudiug light haruess sorts are in good demand. A southern buyer wanting two trucks could only obtain half his requirement?. We quote value as under : —Draughts, young, with trial, £l4 10s to £18; do light and aged, £9 to £11; light harness sorts, £9 10a to £l4 15s; hackneys, £7 15s to £d ; weeds and scrubbers, £3 10s to £5 ss. MONETARY AND COMMERCIAL.

London, November 7. The butter market has collapsed, owing to retailers buying margiue mixtures. Danish ia about 120 s ; colonial nominally, 115 s to 120 s. The Maori's cattle are being killed. Generally speaking the animals are poor, some of them very much wasted. Some of the cows are bringing 2s 2d. The Gothic's chilled meat is bringing 2i 4d. A portion of the shipment shows signs of mould. The prospectus of the Peveril Goldmining Company, Hauraki district, with a capital of £BO,OOO is being issued. The shares beidg offered to the public. The weekly returns of the Bank of Lugland, published to-day, show the total reserve to be £32,316,000, and the proportion of reserve to liabilities 58.34 per cent. Three months' bills are discounted at 1 per cent., with the market firm. Consols, 106|.

New Zealand long-berried wheat, nominal ; South Australian ditto, flat, 28s 6d; Victorian ditto, quiet, 28s 6d. The New Zealand frozen muttou, first quality, 4jd per lb ; second quality, 3fd; lamb, 5J;d. New Zealand hemp is unchanged. At the Bradford wool sales there is better inquiry, but prices are not improved. Crossbreds are weaker. November 8.

Silver, 2s 7d per oz. The bulk of the cattle by the Maori were sold at Deptford, at an average of £l2 to £l3 per head. Best cows brought £9 to £lO, and bullocks £ls, the largest realising £2l. The market was almost the worst on record.

The Scottish and New Zealand Investment Company shows a profit balance of £24.

The imports of the United Kingdom last month increased by £1,185,783 and the exports by £1,680,880. The Imperial Government joins with Canada in promoting a fast Atlantic mail service.

At a meeting of the English, Scottish, and Australian Bank, Mr Hegan, the chairman, said that business was constantly cotningin, and had improved considerably since June. Adelaide, Nov. 8.

A few deliveries of the new wheat crop have been made, the samples being good and well grown. The South Australian Register says that the yield for the whole colouy will be under the average, the estimates placing it at 4 bushels an acre, as many crops had to be reaped for hay. The area reaped for grain is estimated at 1,300,000 acres. This, with 4 bushols an acre for the lowest, will leave less than 1,000,000 bushels for the colony's immediate customers, aud shipment for Eur po will be out of the question. Sydney, Nov. 8.

At the wool sales the demand for good and medium greasy merinos continues very active at full rates, but inferior sorts drag aud are almost unsaleable. Crossbreds are iu l«ss demand, aud except in caBO of specially good sorts are unsaleable without concessions, which sellers are not inclined to make. Lambs' wools are in less request.

'I ho Now South Wales crop is expected to bo below the avenge, and hy a rough calculation it is expected that the two northern colonics will require to import between 120,000 tons and 150,000 tons of breadstulFs.

Melbourne, Nov. 8. At. the wool sales, crossbreds were irivgular, but slightly easier. The Newport Freezing Company has received a London order to send 4000 carcases of sheep direct to Malta, which is the first order of the kind received in the colonic*. Wheat is slightly easier, Millow *'

supplied their present eraa ,. • ;"' lve •ere sold .. irom4 . to Qd o he report of f. 4ie Bai)ki Commission states that collocted from vari us • 5011,P .1. -nows that a Statu Bank should bo established. Ah a tirst step towards this end the Commission suggests tho amalgamation of tho Post Oflico and tho Savings Banks, The partial application of the Credit Foncior system has proved inadequate, tho tonus precluding tho great majority of farmers from obtaining relief. Tlio report strongly urges a more comprehensive application of this ryMtoy;, and makes a number of BtiggoHtiojiii as to its management and thy. iaai-vo of lwm& It

recommends that the State Bank should have the exclusive right to issue notes, which should be legal tender within the colony except in the issue department, where it should be compulsory to pay gold for all notes presented, the reserve of gold to be 25 per cent, of the whole note issue. The profits of the bank should go towards the reduction of the public debt. The Commission thinks that abundant safeguards could be provided to insure the maintenance of the value of the State notes. November. 9. The balance of the money for the purchase of the Central Brokeu Hill Miue has been paid. Brisbane, Nov. 8.

The Queensland wheat crop is a small one, and it is estimated that the quantity of breadstuffa which will have to be imported during the comiugyear will be equal to 2,700,000 bushels of wheat.

New South Wale3 4 per cents 107f » j) » 3& » J> 105f Victorian ... 4 » 55 109J .- 3^ ■>■> J5 107 South Australiau 4 » 35 111| 3i 33 108 Queensland ... 4 » 5> nii ... 3J ?> 33 105 New Zealand ... 4 j> )3 111 -, 3 i 33 55 105 Tasmaniau ... 3J 33 53 106 West. Australiau 4 3> 123