FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 4961, 26 February 1895, Page 3

FINANCE AND TRADE.

. [Specially compiled for the Wan IiAiiAPA Daiiy Times,] moxev. i The nioiioy market shows more ■ vitality and a disposition to invest ■ is apparent in the capitalist, The ■ first turn in the tide was the advance in the discount rate of fine three months' bills in London already noted in this column, this was followed by a smart rally in Sydney where stock and shares hitherto neglected came into prominence. Locally several classes of investment stocks appear to have wholly recovered tho position held by them previous to 1893. These facts indicate a return of confidence, investors aro relaxing their demands for small interest combined with safety, ami are seeking a better return for their money. Whether the change is to become more pronounced and be of a permanent character it is difficult to say, bat with our staple products n drug in the market and selling at unprofitable rates it is impossible to believe that the recent indications of a chnnge for the better in commercial affairs will prove lasting. The Bank of England returns for the week show the reserve to stand at£29,G74,OOOasagainst£2o,HS,ooo and being an increase for the week of £556,000, the total accretions to tho reserve since the beginning of the year amount to £5,024,000. The reserve at this period last vear was £2!),7-I!),000, The following is a comparison of the leading items of the Bank of England with the corresponding date last vear, Fcli, I, Fell. 7, MoveMl. MS. limit. JC £ i! increase Mn and Bullion .. K.US.OOO 5(i,502,000 SMOOO Nutt, in Uiri'lll.lliwi l!l,4ijl,000 1'1.1M.000 150,000 decrwaj I'iililic Dcnosils .. r.SWMO (i,fl»,000 _ lIJO.OOH Oilier Deposits .. !i,»,MO :fI,SH,OOO 0,470.000 (loveniiu'l Securities <V«H,C>OO 12,475,000 ,1,418,1100 Other Securities ..23,41:1,000 17,M,M0 5,7M,C00 Reserve .. .. 20,13:1,000 27,413,000 7,04(1,000 I'roiwrti™ nf Reserve per cent, percent, percent. I tu Liabilities.. .. siiß 0010 10'42 The open rate for three mouth's bills has advanced an eighth and is ' now quoted at ljj- per cent. It will , never do to fake an altogether optim- ' istio view, because of this advance in (he discount rate, for taken in , cuujjuiictioUwil.il tliu strong position , of the Bank of England reserve there . is no reason why money should not be as cheap as ever, so that it is not unlikely some apprehension exists as , to the immediate future. The cur- ( rency question in America has been , and still is a disturbing clement, and ' United States finances may be in a ' critical position—the deficiency in the revenue for the six months ending 31st December last, amounted to £5,500,000. COVLIIXMKXi" British 2f per cent Consols Coschen's) quoted at 10-li show no variation for the week. ' Of the six denominations of Col- '' onial Government i per cent stocks four sbowan advance while the other two remain as at last quotations, The table of comparison is as follows : Fob. Feb. Move. ; U. 21. mcnl. N. Zealand 1!)2!) 107} H>SJ- Disc 15s. ' N. S. Wales 103310f» 10!!} Itise ss. Victoria, 11120103{ 103] ' S. Australia 1930 107 107'. Rise 10s. ! Queensland, 1924.1011} lOlii Hisc ss. W.Aiistralial!i:Hll2 112 In the 31 per cent, stocks, Vic- ' toria has advaneed ss. and New . South Wales and Queensland, 10s each; the others are unchanged, , The weekly comparison is as follows— , Feb. Feb. Move I LI, 21. meat. « New Zealand 1910101} 101} - ' N.S. Wales 192-1 103 1031 rise 10s 1 Victoria 11123 97.1 97} rise 5s I S. Australia 1930 102 102 - ] Queensland 1921 !W[ 99J rise 10s - Tasmania 1910 91) 99 - > ( WHEAT. , The wheat market shows very < little vitality, and business is still of ' a baud to mouth character. New ( Zealand long-berried wheat, «• ' warehouse, has a nominal quotation . of 25s till, South Australian 2Gs Cd, J and Victorian 20s 6d nominal. ] Bradstreet's supplies the follow- I ing figures; European and American < stocks of wheat on January Ist ;•- ( v Fast of Uicilic Europe* Grand ' ,ur - lt«ekiM. Oust. Altai. Total. 1 ISK 113,707,000 13,302,000 .".7,741,000 184,753,000 | 1491 00,542,000 10,721,000 70,M0,000 100,22:1,000 Ml 1u7,057,000 9,305,000 li!,:i3O,(JM Ml.tl'.W.OOO ' 1592 (111,213,000 8,81:1,009 75,450,000 150,;,3il,000 1 IS9I 47,116,000 12,914,090 61,423,000 111,431,000 , IS9O 54,227,000 7,505,000 63,299,000 115,092,000 ' ISS9 52,740,000 5,705,000 72,253,000 130,700,000 1 There is a shred of consolation to ' the Colonial wheat grower, for the total for the Ist January this year, is less than on the Ist January, 189-1, by 5,-170,000 bushels. FIIOZKX JIKAT. The depression in frozen incut l continues, and the week's quotations ' arc as follows:—Mutton, first qual- j ity, :l'jdi second quality, 2 7-8(1; - lamb, average quality, ocl; finest, Oid. .VOTES. Every effort is being used to make . the export of cattle from Australia . a profitable venture, and those who ' are engaged in the work are not without encouragement, A week or two ago the General Manager in Australia of the German-Australian Steamship Company received a cable stating that bullocks fetch £2O a head in Hamburg, and that there is every probability of aprolitable trade being done in Germany since the American cattle are now excluded from that country. No restrictions are to bo placed on the introduction of Australian cattle. Witii our staple products fetching such ruinously low prices it is wonderful to note the high prices that are still given for unimproved land. At the Wellington and Manawatu Railway Company's tenth annual sale £7 2s 6d per acre was obtained for one bush section, and ;£8 for another. The land must be of exccp : tional quality or the purchasers must be farmers of a Yery high order to makejland remunerative at these figures. The area cropped for wheat throughout South Australia this season was about 1,001,000 acres and an average of o bushels per aero has been obtained. The total production was 8,005,000 bushels, and deducting from this quantity 3,471,000 bushels for food and seed and adding the surplus (30,000 tons carried over from last season, tho total of 6,840,666 bushels will bo available for export. The value of the world's gold yield for tho past live years is as follows: '£. 1890 '21,700.000 1891 27,300,000 1892 30,480,000 1893 32,460,000 1894 (estimated) 36,200,000 Tho United States, France and India consume half the total whfat production of tho world, tbo United Kingdom one tenth, Russia, Austrp, Hungary and Italy about one-fourth. The loss on exchange during tho i last fiscal year of the "P.andO." Company iseet down at w lcjsthtw

£189,000. A very large proportion of tho Company's receipts are paid in silver while four-fifths of its expenditure are defrayed in gold, and the loss above stated is due to the depreciation of the white metal or as some prefer it, the appreciation of gold. Pehcv Peklyx.