COMMERCIAL.

Globe, Volume I, Issue 95, 19 September 1874, Page 2

COMMERCIAL.

We have no alteration to report in breadstuffs, the supply and demand being alike very quiet. Wheat is nominally quoted at 4s 9d, but no sales have come under our notice lately. In flour prices remain unaltered at £lllos in 2001 b a sacks, and £l2 for lOOlbs hags. Barley is quiet, but a DOticeable circumstance occurred recently in a small shipment being recently imported from Blenheim by the Dido for a local brewer. Oats are exceedingly stiff", and 4s 9d to 5s is talked of, as the local consumption is very active. Butter remains Scarce, the spring - being late and cold, but ere long- supplies must improve. Cheese is in fair request at 7d. Hams and bacon are unaltered at 9jd bare, andlOd in cloth. The business transacted in the import market during the past weeTc has : been very limited; most of the business done has been in trade parcels. We have no arrivals from England to record, but stocks in most lines are very heavy. Little has been done in case and bulk changed hands at 7s i.b. Old Tom meets with steady sale at 5s i.b., case 14s. Rum meets with but little enquiry, The market is well stocked with J.D.K.Z. Geneva. A fewsales have been effected at 15s to 18s 6d for 3 4-32 to 4 gallon contents. Case whiskey meets with little attention. SugarsSeveral good parcels have changed hands at full rates. The market is getting bare of best white crystals. Tea has been pushed ofr at rates which leave scarcely any margin for importers. Hops rr eet With better sale; for prime samples Is 9dis obtainable. Bottled ales and stout are almost at a standstill, and likely to remain so for some time, judging from the stocks held. Tobaccos meet with steady sales at advanced rates. There is a good demand for cement at 235. Galvanised iron is dull at our last quotations. Kerosene is placed in trade parcels at 2s 3d D.P. Mr J. G. Hawkes submitted 25 South British Insurance shares at his rooms, yesterday, which realised 51s per share. Clifford and Roper report for Saturday, 12th September:—A very brisk demand, and firstrate prices obtained for pigs of every description, small stores especially fetching extreme value; poultry in good demand, and supply limited. Pigs, small store, 10s to 17s each ; pigs, store, 17s to 235; fowls, lis 9d to 4s 9d pair: ducks, 4s 9d to 7s pair ; turkeys, 7s 6d to 9s pair; calves, 15s; cows, in full prolit, £8 10s; American waggon, £35; spring cart, £25 10s; tip dray, £l2. For furniture and miscellaneous goods a very g-ood attendauce of buyers, and satisfactory prices obtained. Messrs Matson and Co. report on the live stock market, &c, as follows:—At the yards on Wednesday 231 head of cattle and 1712 sheep came to hand. There was an average attendance of purchasers, and sales were made with comparative ease at an advance of fully £2 per head on cattle, and 2s 6d to 3s per head on sheep was fully established. Our quotations for fat stock are 40s per lOOlbs for prime quality beef, and 35s to 37s 6d per lOOlbs for medium quality; 4d to 4jd per lb for prime mutton, and 3?jd to 3fd for ordinary, with large demand and bare supplies. We are now fully convinced that the opinions expressed by us at an earlier period of the season as to the increased values likely to be obtained during the months of October, November, and December, will be confirmed. The wonderful increase in the local consumption caused by the great influx of population to ; the province, and the large number of both cattle* and sheep converted through the agency of the meat preserving establishments, combined with the continued steady drain for the Westland markets, together with u very bad fattening season, has brought about a scarcity which, until the present time, was .almost imperceptible to the general public. Our entries in cattle comprised 182 head for Messrs John Reese, Acland, Eyan, Jones, Tubman, Davis, Watson, Taylor, Davidson, Kinley, Hampton, and others In beef we sold 3 cows for Mr John lieese at £l6 10s, and 3 ditto for Mr Ryan at £l3 15s to £l4 10s per head; 1 ditto for Mr Acland at £lB, and sundry lines from £6 10s to £7 15s and £8 of light and inferior quality. In stores we sold several lines of rough stores at £3 7s 6d to £4 per head; young stock, from £3 12s 6d to £4 15s per head : calves, from £1 7s 6d to £1 19s 6d per head ; cows, £4 10s to £7 2s 6d. In sheep our sales wee confined to 737 head for Messrs Wason, Temple-. Harper, Howell, Dunbar, I'appcrill, and others, viz.:—l3s prime paddock fed crossbred at top prices of the season, viz, 22s 6d and 23s per head, for Mr Cathcart Wason, Corwar, Rakaia; 151 very ordinary merinos, for Mr IS. M. Templer, Coriuga, at 14s (id; 150 shorn lambs, inferior. :it !)« 3d, for Mr Harper; 300 old merino ewes (e..J.s . :it Is Gd, 4s 9d, and 5s 6d. With the exception of two small lines of fair quality merinos, the balance were inferior mutton and breeding sheep. Several of our constituents who had arranged to forward sheep for last week's market found upon drafting- that their condition was unmarketable. Landed Properties We have to report having sold the 133 acre farm (known as Rollo's), Lincoln district, for the Rev A. P. O'Callaghan, at £2O per acre. Country Sales—At the cattle sale held by us on account of Messrs Saxton and Williams, on Monday last, there was a very large attendance of buyers, and biddings were characterised by extreme briskness, 180 head were penned and all sold at an advance on town prices. Sheepskins, Hides and Tallow—At our wool stores on Thursday last, a very large supply of sheepskins came to hand, 100 hides, several casks of tallow and rough fat; when all lots were disposed of at the undermentioned prices, viz:—Best butchers' cross-breed skins, 7s to 8s • second quality, 5s 6d to 6s Id each; best merino, 6s to 6s 6d ; second quality, 5s 6d to 5s 9d; inferior, 3s 3d to 4s 10a caoh; country skins at 3s (id to 5s (id each; hides, salted, 4d per lb; tallow, per lb; rough fat, 2}d per lb. ENGLISH COMMERCIAL. WOOL. Messrs Miles and Co., report on July 28th as follows: There has been no alteration to note in the state of the wool market since our last, and the prospects for next sales are just as good. There are still

several enquiries for wool privately, and a lew parcels of washed fleece wools have ehanged handsi at high prices, but holders are not anxious to realise as tiiey look forward to firm prices in August English wool keeps very firm. The arrivals to date are as follows, viz:— Bales New South Wales and Queensland «,234 Victoria "'"* South Australia ... ... ■•• ••• J y*2!i Western Australia *»°;?Y Tasmania... ... ••■ ••• ••' C n',„o New Zealand <£,423 Cape of Good Hope ■ ■ i ''- 174 Total r ••• 226,117 The New Zealand Loan and Mercantile Agency 'since the close of last sales there has been a good amount of private enquiry, and some considerable parcels of held-ovcr or withdrawn wool have been placed at prices showing a varying advance on late sale rates. This gives evidence of a healthy condition of the trade in the manufacturing districts. More confidence has been imparted to the operations of manufacturers by the knowledge that the imports and deliveries of the raw material for the first six months represent more than the increase of production, and that supplies available for the remainder of the year may therefore be expected to show a deficiency as compared with those for same period in previous years. During the last ten days the enquiry has been hardly so strong for Australian and New Zealand descriptions, but this appears to be owing to the indisposition of merchants to sell privately except at high rates, rather than to any change in the condition of business. English wools after having ruled strong at an advance arc again rather weaker, but in other respects there is nothing fresh to report. From Germany our accounts speak of a considerable revival of business, and we hear also from the home manufacturing districts that the American trade shows some increase of activity. It is probable that the brilliant harvest prospects have given some stimulus to the recovery of trade, and present appearances decidedly encourage the expectation that the next, sales, commencing on 18th proximo, will open in a firm and favorable market. Up to this date the following quantities have arrived for next sales:— Bales. New South Wales and Queensland ... 41,234 "Victoria 57,722 South Australia 10,847 Western Australia 1,55° Tasmania ... ... ... ... ••• 7,358 New Zealand 69,423 Cape of Good Hope ... ' 37,974 Total 226,117 WHEAT AND FLOUR. Messrs Miles Bros and Co report:—During the last three weeks, owing to the favorable weather for the crop, the cutting of which has already commenced, accounts of abundant harvests from the Continent and America, prices have fallen fully 3s on some sorts, and 4s to 5s on others, particularly Chilian, which has been sold as low as 49s 9d c.i.f., arrived. No 1 and 2 Spring American has also been lately disposed of at 46s to 48s c.i.f. 4Solbs. There have been some considerable importations of white wheat lately, and some parcels from New Zealand and Tasmania have been of excellent quality, I'resent quotations arc— Tasmanian, extra line Gls to 62s 4961b5. Do fine ... Adelaide, ex ship 60s do. New Zealand, extra fine, Gls to 62s do. Do fine 58s to 5Ub do. Do old and ordinary, down to 50s do. New Zealand flour 41s to 42s 2801bs. The New Zealand Loan and Mercantile Agency Company reports:—We have to report a decided downward movement since our last circular in the markets both of this country and the continent. A continuance of highly favorable weather for our crops; the assured abundance in France, Italy, Hungary, &c., where Bome progress in harvesting has already been made; sufficient supplies of foreign wheat at ports of call and on passage hither; and the saving of fourteen days' consumption of old Bj^^iM^n^ii^^^th^^^^^^d bined to depress the market, which is now quite 5s per quarter lower than our last quotations. In a few of the early home districts cutting has commenced, and some lots have been on sale. The continental demand has almost entirely ceased, and of the cargoes now on the coast, probably little or none will be diverted thither. Stocks in granary are very low, but we have arrived at a period when this feature has but little influence on the market. American spring wheat can now be bought at 45s 6d to 48s per 180 lbs c.i.f. on the coast, and Chilian has been sold as low as 49s 9d per 4801bs for the home market. Transactions in South Australian afloat have taken place at equal to 57s 6d per ISOlbs usual Australian c.i.f. terms. Adelaide wheat exship is to-day quoted at 00s, and ex-granary, 00s to Gls per 4961b5. New Zealand and Tasmanian of excellent quality are worth only 58s to 59s per 49Glbs; a few extra fine command up to G2s for Yorkshire millers, but samples of medium quality or condition will not fetch more than 54s to 5Gs.

A report issued by the Agricultural department at Washington states that the area of land under wheat cultivation in the United States has increased by fully 2,000,000 acres ; that the probable yield will be 6 per cent above that of last year ; and that the condition generally was good. Should this intelligence receive confirmation, we must expect a further decline on both Australian and American, greater in proportion on the former, as red wheat is already cheap compared with white. Statistics compiled from Government returns show that the imports of wheat and flour into the United Kingdom for the first ten months of the present cereal year, viz, from Ist September, 1873, to 30th June, 1874, were 9,657,354 quarters, against 10,286,126 quarters for same period last year, and 8,033,490 to June 30th, 1872. Estimated total English deliveries for the like periods were 6,235,476 (1874); 6,568,860 (1873); and 7,972,071 (1872). Of the 9,657,351 quarters imported to 30th ultimo, as above, the United States have contributed no less than 5,278,698 quarters, being an increase of 2,362,133 on the supplies received from that country to the corresponding date in 1873. Exports of British and Foreign wheat and flour from the United Kingdom for the like periods have been 539.077, 134,114, and 539,952 quarters for 1874, 1873, and 1872 respectively. Present market quotations are as follow : Australian wheat 60s to Gls per 4901bs New Zealand wheat 58s to 60s „ Australian flour ) , n „ t „ ( .„ New Zealand flour j 40s to 44s „ Messrs Burrows and Perks say:—We have had a continuance of very line and warm weather since our last, but the nights having been generally cold, the growing wheat has not made rapid progress to maturity, and consequently wheat-cutting cannot be general till the second week in August; the very earliest fields are reported to have received some injury from the night frosts in tbe early weeks of but, after making due allowance for any such deficiencies, the crop must, we think, be a large one, but doubtless not equal to the very abundant one of 1868. The almost universal reports of fine yields of wheat over the Continent (especially in Hungary), and also in California and the Atlantic States of America, have lately had some material effect on the trade, and there has in consequence been a strong decline on red American wheat during the month, amounting to as much as from 4s to 5s per 49(>lbs. Fine "descriptions of white foreign wheat have not, from comparative scarcity, experienced so marked a decline, but are in only limited request at a fall of Is to Is Od per 4961bs during the month; the difference in value between rod and white wheat is now much greater than usual, as much as 10s per 4!)Glbs. The Continental demand for inferior New Zealand wheat and for superfine Adelaide wheat was somewhat active about a fortnight since, but has now quite subsided. Best qualities of Adelaide wheat are in very moderate request indeed at about 61s per 4961b5; finest Tasmanian, 63s to 63s 6(1; New Zealand, from 54s to 60s for inferior and secondary sorts up to Cls to 63s for selected samples. The later arrivals from New Zealand are better than the previous ones, many of which have been very inferior, both in quality and condition. Superfine Adelaide flour in limited demand at from 44s 6d to 45s per 2801bs landed, second qualities at 40s to 435. The grain arrivals from the colonies during the month have been by the Itobert Henderson, E. P. Bouverie, Garnock, England's Glory, Larnax, Monaltrie, and Albert William, from Adelaide ; the Araunah, Peony, Fugitive, Alfred Hawley, and Victoria, from Tasmania; the Dunlillan, Duke of Edinburgh, and Star of India, from New Zealand ; and the City of Florence from Melbourne. The Poseidon, from Adelaide, has also arrived at Falmouth. Oats and maize are both firm at our previous quotations. TALLOW AND HIDES. Messrs Miles and Co report:—The tallow market has been very depressed with a most limited demaud for colonial tallow; the trade supplying their wants from home produce, which is very abundant. The present value of good to fine New Zealand mutton is 39s to 40s, and beef 37s 0(i to 38s per ewt. Hides have been in more request, and prices have advanced. We quote New Zealand heavy and light weights 6.jd to 6,'d per lb. The sales of Australian tallow for July have|been unprecedeutedly small, only about 600 casks,

LEATHER. The New Zealand Loan and Mercantile Agency Company reports:— The improved tone of the market recorded in our last San Francisco Circular, has been fully maintained, and at the two public sales held on 3rd and 17th instant, an advance on previous prices amounting to \(X per lb was readily secured. At the former 5648 sides were brought forward, of which 3863 were disposed of; and at the auction held on the 17th, the catalogues contained 4912 sides, of which 3380 were sold under the hammer. The market is now firm, with an upward tendency in prices. Prices current are as follow : ! Best sides averaging 13 to 15 Jibs .. ll£dtol3|dperlb Extra heavy ditto 19 to 221bs ... IOJd to 12Jd per lb Light ditto 9J to lipbs...lOJ-d to UJd per lb Seconds and inferior lOfd to llld per lb Arrivals to 23rd July, 652 bales. By the mails received since 30th ultimo, we have advices of shipments amounting to 373 bales. PRESERVED MEATS. The New Zealand Loan and Mercantile Agency reports:—The arrivals are again considerable for the month, although those for the past two weeks have been on a smaller scale than usual. Any falling ofT in imports from Victoria has been counterbalanced by increased shipments from New Zealand and South America. In the face of heavy stocks, and extremely limited demand throughout the country, the market remains without animation, and prices are about the same as those given on 30th ultimo. Beef of good quality is enquired for, but is rather scarce. We quote current prices as under: — Boiled Mutton—6lb tins, 4£d to 5d per lb 4 „ 4gd „ 5d „ „ 3 „ 5d „ sid „ 2 „ sfd „ fijd „ Boiled Beef—Gib tins, sjd to 6d per lb 4 „ sjd „ 6d 3 „ 6d „ 6|d „ 2 „ 6id „ Arrivals for four weeks ended 23rd July, 23,194 cases from Australasian ports, and 2097 from South America, Shipments of which advices have been received since 30th ultimo, 17,037 cases. NEW ZEALAND HEMP. The New Zealand Loan and Mercantile Agency reports .-—The market continues in the same dull state as reported in our last issue; the low prices ruliug for medium and inferior qualities of Manila hemp still exercising a depressing influence on the demand for the New Zealand fibre, and until a better feeling is manifested for the former we do not expect any amelioration in the position ol the latter. At auction on the Ist instant 701 bales were brought forward, of which about 300 were sold at previous prices ; and on 15th idem 966 bales were offered to public competition, the greater part of which was bought in, only 250 bales having been disposed of, and these chiefly damaged parcels. We quote present market prices as follow : Fine £26 per ton. Good to fair IBlosto£2l „ Common 15 „ Tow 9 „ 10 „ For the four weeks to 23rd July, the arrivals were 1060 bales hemp, and 406 bales tow. Shipments advised by the mails delivered since 30th June, 206 bales. We append statement of stocks, landings, and deliveries to 30th ultimo, compared with those to corresponding date in 1873 : 1873. 187-1. Stock 30th June 885 tons. ... 2433 tons. Landings January June 1268 „ ... 1486 „ Deliveries do ... 749 „ ... 920 „ Landed during June ... 56 „ ... 127 „ Delivered do ... 187 „ ... 188 „