COMMERCIAL.

Wairarapa Daily Times, Volume VII, Issue 2021, 20 June 1885, Page 2

COMMERCIAL.

TMr W. Eapp reports for the past week asi fol" lows;-Business in nil farm produce has been very briik this week, and prices have an up Irani tendancy, Oats: Tho bulk of this grain, both in. this district and Canterbury is out of the farmer's hands, and any alteration in quotations will be at an advanco on previous quotations. I havo disposed for one client of 280 sacks of prime feed oats at satisfactory prices. Wheat: The local market is quite bwe of good milling wheat; in fact, farmers are complaining at tho scarcity of good wheat for seed purposes, and millers assert that ore tho end of the season they will have to look elscwhore to keep up their supplies. Chick-wheat is rather a drug in the- market, Potatoes; In consequonco of the potato crop in Canterbury being a very poor one, (the yield according to last advices being 50 per cent less than, last year) tho local market has advanced from 5s to 10s per ton, and there is every probability of a further advance. Fat Sheep : Tho market is almost bare of i really good fat wethers, and there are more J buyers than sellers. Prime cross-bred wethers have sold from lis 6d to 14s 6d. Merino wethers are plentiful, but no domand exists at present \ for that class of sheep. Good cross-bred ewes I ill lamb have been sold this week at Us 3d, but i' were of exceptional quality. Ordinary cross- j bred ewes in lamb areworth'from Bs'6d to 10s. ; PAT OATra; No great demand, and pripro/ ore consequently lower than they have been'j for some time. Several lots have been disposed 1 of at prices ranging from 95s to 140s. j Stoiib Cattm: A mixed lot of 150 were; sold at Cos, both buyer and seller being satis- ; fied. j Cows: In calf, and quiet to milk, are quoted ' at 100s. •! Butter : Fresh butter scarce, and is worth, i Is Id per lb. _ Good prime butter 8J per Ify. | with a decided inclination to advance. ' ,• Messrs Charles Fownall and Co, mortgage) \ agents, Wellington, report a considerable influx j of inquiries for mortgage loans during the last I month, principally confined, however, to Him! renewal of existing mortgages on easier terms, i The rate of interest now ruling for sums of £lOooandupwards is decidedlylower, and maybe. I quoted at 6 or 7 per cent.,, according to. the j amount required, while the local supply of | money for investment is sufficient at present to. j meet demands upon a moderate scale.. In the. r English market unemployed capital still. { accumulates, I per cent, only being now its. commercial value, Tho great deterioration in. the value of landed property in thai country f likewise leaves further large sums seeking other- j mortgage investments, and we have no hesita- j tion in asserting, our opinion being based upon.'! forty-five years of general colonial experience,. that the Australian colonies, as an outlet for'l superfluous capital, is now "Englands opportune

ity. »nd that Now Zealand, from her favorable position, holds the foremost rank, whether for purcliMO of land or othor investment of capital, Tlio export of her frozen mutton has now become thoroughly established, and sho is able to produco It, from her favorbalo climate, all tlio year round. Another point, however, to wliloh to draw special attention is tlio valuo of the' wool theso Hame slicgl> produce. Latest London prices show a general fall in this material,' with the exception of good crossbred, quoted Id per pound higher, thus adding much larger figures to % valuo of outclass of sheep. Tho' only drawback to the rapid advance and certain prosperity of Una-Colony is thewantof sufficient moderately cheap capital to carry out and carry on operations. That is the true source; aided by our railway communication, from which its future development will rapidly spring; and this supply, wo ore glad to state, is likely to be the outcome of negotiations now being finally arranged with inlluential capitalists at Home, PRODUCE PRICES. The wholesale prices of produce in Masterton at this date are as follows:—Fresh butter, Is to Is Id; eggs, Is 4d; bacon and bins, 7d ; now oats 2s Gd, retail, 3s; wheat 4s; cheese, Cd to 8d; potatoes, 4s,