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Wairarapa Daily Times, Volume X, Issue 3149, 9 March 1889, Page 2

. Vienna,' Maroh 7. The announcement ' that' King Milan of Servia has abdicated; in favor of his Bon, and tbat M. Bistros,the Liberal leader, was one of tlie appointed Regents, was received here with displeasure, as it is feared that tbe Russophilic tendencies of the latter will cause trouble; . ■ 1 J ;■ / St, Petersburg, March' 6.. M. Passiet, the Russian Minister of Railways, and M, Saint Jewial, inspectar of liaihvays, have; both been indioted for complicity ,k the accident-which befell the Royal train 1 at Borlti'in October last, • Australian. The Grain Prospects. Sydney, March 7. The following is the Government Statists official report on the wheat yield, &o,: —Tbe probable consumption of wheat during 1889 is given at 7,906,000 bushels, and the estimated yield at 1,578,000 bushels, leaving a deficiency of 0,418,000 bushels. The probable consumption of wheat is based on the experience oftbo past 10 years, and the mean .10 years, if the average'is main-, t'ained, would give an estimated consumption of 7,424,000 bushels. To this must be j,dded, however, the quantity required for seed purposes, which is estimated at 562,000 bushels, making a total as above of 7,986,000 bushels. The average consumption per head during the past 10 years is given as 6*7. During tbe year. 1888 New South Wales imported 565,284 bushels from Victoria," 521,324 bushels from' South Australia, from New Zealand. The opinion is expressed that flour is bound to rise by leaps, hut tliat.it.is : unwise'to force the price so that people will not buy; and that New South Wales will be able to absorb the whole of the New Zealand surplus wheat supply, though probably America will send a couple of million bushels. Adelaide, March 8. . ■

Wheat has advanced to 5s .for shipping parcels, but holders show little disposition to sell,

In' the coursed' an. interview a member of one of tbe leading firms in the grain trade expressed an opinion that, although certain prejudice exists against New:. Zealand wheat, that prejudice willbe beaten down by tbe force of circumstances, provided the English' wheat market maintains a good'tone, and that both New South Wales, and' Queensland will be absolutely •dependant for their supplies on New Zealand, . [Regarding the poasibility-of California com-, peting witli New Zealand, tbe sime gentleman said they could not do so unless New Zealand forcpd the price and caused the market to drag. The Californian market-acts in unison with the English market, and so long as the present condition ■ of the latter is maintained, Californian growers will be unable to land wheat in Australia for less than 5a 7d per bushel. The moment tbe English falls, however, to say 89s, and pro vjded the Now Zealand wheat Bhould jbe selling at abovo ss, say 5s Cd, then the Californian growers would successfully compete with the New Zealand growers. Otherwise there is not much to fear, although American grain would find favour here.