FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 5180, 13 November 1895, Page 3

FINANCE AND TRADE.

i Specially compiled for tlio' Mnmipi My Times.' THE WOOI, MARKKT. The indications point to a probable fall in price of from id to Jd porlb., at tho sixth series of London wool 1 sales, which begin on the 20th iiist, . Tho Ityadfoid wool sales show a i dullness, and crossbieds are Ad cheaper. There is nothing alarming in this; on the contrary, a decliuo was expected, for the reason that tlio wool now open for salo in , the Home markets, is mostly of inferior quality, being the curry-over slocks of previous sales. Woolgrowers in the Colony are not likely to bo led astray by the present state of the market, and if any are foolish enough to sell their wool at the rales ruling now, they deserve to lose money. The present depression in i the wool market will be used by the ! itinerant wool buyers who infest the colonies at this time of the year to bring down the price, but woolgrowers should avoid these travelling buyers and send their parcels into the open market for salo. If. is quite a legitimate trade, indulged in by several wool houses, of buying wool privately from fanners, to be afterwards sold in London, These buyers are well posted as to the market, and are in n position to take every advantage that may arise. When it is considered that the expenses of the travelling buyers, the profit on the purchase, and sundry other expenses and charges have to be provided for, it is quite evident that the wool-grower cannot get from the private buyer anything like full market price. The best course is to send tho wool to Loudon and let it take its chance in the greatest market. In any case, those desiring to sell in the Colony should do so at the auction sales, which are held at intervals during the season, and at which there is some chance of competition. The London wool sales next year will, without doubt, show an improvement upon the splendid sales that have been held this year, and wool-growers would be studying their own interests by sending their clips to Loudon for sale. ' niTmi. Margarine lias, to use an expressive phrase, knocked the bottom out of the butter market, and the splendid prospects of a week ago vanish into thin air, Butter does not now promise to stand high in the market, and after the Christmas Irnde, the price will sag down. Margarine, keen competition, and an increased output must have a depressing effect on the market; it will theiefore be , better for our dairymen instead of waiting for a higher price to accept the position as it is, and set about improving their herds in order that a profit made be made on the prices now ruling. A factory in Taranaki which contracted for milk al2'd per gallon, generously raised the price to "2|d, relying upon the improved prospects which have now melted away. WIIUT. The shortage in the wheat crop ■ throughout Australasia will bo seriously felt, and already millers have raised the price of Hour, The bakers will not feel comfortable until they have clapped a id or Id on the price of bread. New South Wales and 1 Queensland between theni will require to import about 120,000 tons of breadstulfs, while South Australia, the chief wheat grower, will have available for export less than one million bushels, UIIUIH HKKF. The shipment of chilled beef per s.s. Gothic is not such a success as was at first pronounced. A portion of the shipment shows signs of mould, and the price, 3Jd per Hi, is ; not very promising. The beef ' mai ket is depressed, and that fact : must be taken into account. The \ chilled beef trade will hold its own | against the live cattle trade, which i seems not to have passed the experi- i mental stage. I Although the profits of the D.1.C., ] for the past year, did not admit of a ; dividend being paid to shareholders, the Directors very wisely decided to ' pay a bonus to purchasing' shareholders. The bonus paid, was at the rale of 3i per cent., on the amount of individual purchases, and ' no doubt the recipients of the small j bonus will be well pleased, while the , effect mast be to increase the turn- ■ over of the D.I.C. | MOCKS. British 2f per cent, consols have experienced a furtlioj' decline of 10s, during the past week, and are now quoted at 106}. The fall in consols is due to the hardening tendency of the money market; three months' bills are now discounted at I per cent., instead of at j per cent., which was the rate ruling for a very considerable period. Colonial Government Stocks have experienced the changed tone of the market, with the result that most stocks have dropped, the exception is to be found in Victorian 3* per cent., which show an unaccountable advance of 755, moving the stock up from lowest to second on the list. Victorian Stocks are not likely to jump into public favour with so vigorous a bound, there is therefore every reason to think that tlio figures have been multilated in transmission: Both tho Wellington papers err in giving tho New South Wales 4 per cent, quotation at lo7|, it should be 117y, but singularly enough 1 the movement as compared with | last week is correctly given as\ ' "as lower." The error in the ' quotation, as given in the NX. Times, is obviously a mistake on tho 1 part of the printer, and can be overlooked, but there is no excuse for the repetition of tho error in the THwutuj 5 hi. This week's quotations as * compared with the previous week are ' as follows:

I'KIICY Pmvs.

i I'Ell CENT. Oct, Nov, Move31 Ht. 7th, ment. New Maml IB ... Ill 111 N.S, Walua 1933 ... lis 117? Fall f>a Victoria 1520 .. 1101 Fall l«j S, Australia l!)3li ... 112 111? Fall 5s Queensland 1021 ... 112 Ill} Fall 5s W. Australia 1831 ... 123 123 3 »' Kit CEXT

Oct, Nov, Move31st. 7th. mcnt, New Zealand lfl-IO . 105 105 Fall 10s N,S. Waka 1<J2I . lOlif 105.| Fall 10s Victoria 11)23 103} 107 Rise 70s 8, Australia 1930 . 108 10S — Queensland 1024 . 105J 105 Fall 10s Tasmania 19JO . 100} 108 Foil 16s