FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 4926, 15 January 1895, Page 3

FINANCE AND TRADE.

(Specially compiled for tlio WiiitAKAPA Daily Times). MONEY, The Bank of England returns fo the week ending tith January shows »tlwt a considerable influx of gold has taken place, the total reserve being £25,160,000, as compared with £83,972,000 the previous week, the incroasoamountingto£l, 188,000. The proportion of reserve to liabilities is 55'Gti, as compared witli 53*34. The Bank's reserve for the closing week of last year as compared with the four previous years is shown in the following table Amount of Proportion to Reserve. Liabilities. £, P.C. IW. 31, '9O 1d,800,000 37 Dee. 30, '9l 13,100,000 3G I'cc. 28, 'O2 15,400,000 41 Dec. 27, 'O3 15,500,000 -to ■Dw. 27, *9l 23,570,000 6-1 The following table shows the movements of the Bank of England -reserve for the last six weeks of Inst \.'nr, as compared with tlio corresponding period of 1893 Reserve Open Kescrv« (tyen ISM. Market im Market &. Me. jc. Kate. X0v.22 26,750,000 1 17,1112,000 2j} Nov. 29 26,710,000 1 1(!,!IS1,000 2} IP Dec. (i 25,730,000 1 lli,80(1,000 ~ Dee. 13 25,360,000 0; 17,101.000 2?, Doc. 20 2-1,830,000 0} 111,11'.1,000 21 iJetv 27 23,070,000 oj 15,-187,000 lj In the Colony there is plenty of money-seeking investment. Good securities, that is securities that show a 50 per cent, margin on a close valuation, are scarce, and these can command a very low rate of interest. fiOVKRXJIEXT STOCKS. British 2f per cent consols are quoted at the nnprecedeutedly high figure of of 104}. The price indicates the fierce rush there is in London for '• gilt-edged " securities. In 18i)3 the highest price touched was 98 and 5-lbth's, on December 27th, 1894, the top price for the year was reached at 103 iex interest; the new year has witnessed an extraordinary upward movement. On the 3rd January the price had risen to 104, and the latest quotation for the week ending 10th inst., is 104}, equal to an advance of } on the price ruling at the close of the year. ° 1| Colonial Government stocks show i general decline. Of the 4 per cent, stocks, four out of the six denominations show a full of}, as compared with the previous week. The following table exhibits the week's movements in 4 per cent, stocks Stock, Jan. 3. Jan, 10. liise* wow Zealand ...108} 10(i |* New South Wales 108} 108 Victoria 102 1011 South Australia... 102 1061 4!,* (Queensland ... 100 10of jf West Australia... 11l 111 The South Australian stock is the only olio to show an upward movement, and the comparison would indicate that an advance of 4i has taken place, but as we remarked last week the quotations for the 3rd January, are probably incorrect, if not then, his stock has seen violent fluctuations during the past fortnight viz,, a fall of 31 on the 3rd inst., as compared with the previous week, fe, and a rise of 4i for this week. In the 3; per cent stocks, New ' Zealand and South Australia exhibit a decline of a } and Tasmania of A, Victorians have rise H and Queens laud }, New South Wales show no variation. The following table shows the movements of the 3i per cents:— Jan. 3 Jan. 10 llise* New Zealand ... 1001 100j [f -\'ew South Wales 1001 100.1Victoria 93' 94.5 11* South Australia... 1001 100[ jf Queensland ... 971 97-iJ- -}t Tasmania ,„ 99' 981 if WHEAT. Since the commencement of the year, a better toue has prevailed in the wheat market-, with an actual advance of fid per quarter, recorded on the Bth inst. The estimate of the Argentine crop has been thrown out by the damage to the crops by the weather, and it is now estimated that the probable quantity available for export, will not exceed 4,500,000 quarters. The imports into the United Kingdom from the Argentine for the first six months of 1894, ■totalled 4,175,000 quarters, with an V enormous quantity sti 11 togo forward, so that the new season's crop is far short of the harvest of last year, This fact has, no doubt, had a hardening tendency on the market. The report of the delegate sent by the wheat producers of Victoria tc the United States, illustrates tlu point that America has reached as a wheat producer. According to tlu report, there is no real difficulty in the way of bulk shipments oi Victorian wheat being sent tc America at a profit-. The markcl quotations for the past fortnight art as follows Dec. 24, '9l. Jau.3, '95. JanlC New Zealand wheat ex warehouse 25/- nom. 25/9 (inn 25/- Urn S. Australian wheat ditto 25/3 do. 25/6 do, 26/-do Victorian wheat do. 25/- do, 25- st'dy 25/6 do ttiOZEN MEAT, This week's quotations show ade . dine in New Zealand mutton an< JWainb, as the following table wil Jan, 3, Jan. 10. Fa] Ist quality mutton 4-Jd Id J-d 2nd do do 3jd 3Jd Jd Ist do lamb old 4Jd -jd On the 27th December, Australia! mutton was quoted at an average o 7-Bths penny, and the market wa bare of Australian lamb. About 200,000 carcases of mutto and lamb were shipped from Vi( toria last year. wool, There are to besix wool sales in Lor don this year, the first taking plac to-day (15th Jan.) The opening sal should place us in a position to gaug the effect of recent American Legii lation, and the admission of woi into the United States duty fre The sale will most likely open wit a very full catalogue, made np of tl: withdrawalsfromtheNovembersah and the shipments to date. In No' ivcinber tlio competition at the sah Iwas slow and irregular, but tl 'bidding had a hardening tendenc towards the close of the sale, in e: peetation of heavy withdrawals ar good sorts, showed an advance of} to id above opening rates. Whi will be the tendency at. the presei series of sales it is difficult to for cast,but we incline to the belief thi there will be a sharp rise in tl prices of the better class of wool ; faulty and inferior sorts will 1 lieglected for a time, but will ult mately advance in sympathy wil the good sorts.'

NOTES, Tlio Argentine wool dip is estimated at 250,000 tons. At tho Sydney wool sales during the present season 385,248 bales wen offered of which 270,675 were sold lu tho season of 1885-86, 113,0(3] bales were offered nnd 71,059 sold, the percentage of sales being 62'8 as compared with 80'5 for the present season, The exports of Victorian wine nnd brandy for the year 1894 amounted to 252,168 gals of the value oi £53,916, showing a considerable decline as compared with the previous year, when 368,677 gals were exported valued at £68,387. There was issued from the Sydney mint hist year 3,067,000 sovereigns, the total amount of gold received for coinage during the 3 ear was 869,781'(i0 ounces, and of this quantity New Zealand contributed 14,855-40 ounces. ———— K '