COMMERCIAL.

Globe, Volume IV, Issue 324, 26 June 1875, Page 2

COMMERCIAL.

We have little alteration to report in the grain market, all descriptions of produce being quiet, if we except a fair demand for prime milling wheat, which is readily saleable at as 6d. We notice some 2000 sacks of oats are coming forward from Oamaru for Lyttelton, as we understand grain merchants can import them cheaper than they can buy locally. Feed oat* arc worth 2s Yd, and prime milling 2s 9d. Potatoes stand at ,63 10s, but those lately coming forward are very inferior in quality, and will cause great complaints. Prices are much easier, and we look for decidedly lower prices. Cheese is steady at B?.d to Bjd, and is in loss demand. Butter is quieter at Is 2d; intact prices are getting much weaker, and holders are desirous to sell, buyers’ quotations are—Prime milling wheat, 3s 6d; good milling oats, 2s 9d; barley. Is ert; potatoes, ,63 10s • Hour, in sacks, £lO, in lOGlb hags, £lO 7s Gd, in 501 b hags, £lO 15s; bran, £4 10s; pollard, £5 10s ; hams and bacon, hare, 10U1, cloth lid. Business lias been very dull in the import markets during the past week, traders showing very little disposition to buy. We have no foreign arrivals to report. Stocks arc working down considerably, and importers are anxiously looking forward for vessels now due. Teas have moved oil' in moderate parcels at fair latcs: wo understand several parcels of good sorts have been disposed of at from 2s 3d to 2s 5d d.p. Sugars have been very dull; we have no change to report in prices. Several lines in spirits have met with a fair amount of attention; Hennossy’s bulk brandy finds ready purchasers at 9s; Martel I’s dark sells in small lots at 9s ; second brands are meeting with more attention, sales are made at 6s 9d to Ys i.b. for good brands; whiskey, rum, and old tom have received a moderate amount of attention from the trade at full rates. Tobacco— The demand has been small, and only for actual requirements, quotations remain as last. Cement — A shipment has been sold to arrive ex Lanarkshire at 19s 6d in Lyttelton, sales have been here at 20s 5d to 20s Gd delivered. Galvanised iron—Stocks are still low,'and mostly in second hands. £ to to £42 is the price quoted for best brands. Bass’s bulk ale—A shipment of new brew now to hand has been disposed of at £lO. At anction on Monday the salvage goods ex Elibank Castle were ottered, when most lines were sold at very good prices; Henncssy’s bulk and Martell’s dark brandy realised 8s Gd i.b.

Melbourne.— The “ Argus” of the lYth instant reports In the import markets business is very dull indeed, and the sales reported of little account. The one general topic of conversation throughout the day has been the suspension of Messrs McEwan and Co, but until the statement of affairs is made up, and something definite is known, it would be premature on our part to notice any of the rumours put forth regarding their liabilities. We learn that telegrams have been received in town anent the opening of the new season for tea at Foo-chow. One telegram states that purchases had been made on London account, on Friday, the 11th instant, but that the general market was not open till Monday, the 14th. Another telegram, dated the 14th, advises the opening of the season at prices much about the same as last year. No vessels were named as loading for the colonics. In the market for breadstuffs there is still little of importance to refer to. We believe, however, that an improved feeling is beginning to be perceptible. There 1h certainly more desire to operate evinced, though nothing more special can be reported in the way of sales. Flour is moving in ordinary parcels at prices ranging from £lO 10s to £lO 12s 6d, and £lO 15s. At auction this forenoon £lO 10s was realised for a small lot disposed of For wheat 5s is asked, and we understand that 4s lid, offered publicly this morning for a parcel of line, was refused; and 4s lOd was taken for a small lot of western. Oats are still very linn; Is 2d was realised publicly for milling, and we learn that privately 1000 bags of tine milling changed hands on private terms. Sales of maize are now making at 4s lOd to 4s 10£d, which is a further decline. Mauritius sugars are meeting with a very good inquiry. Sales of whites arc making at £35 15s. Yellow brewings are scarce, and very extreme rates are demanded tor such parcels asare met with. The usual quantity of Yavraville will be ollcred for sale to-morrow. It is not generally known that in addition to the supplies of raw sugar we are in the habit of receiving from Queensland, we arc in future to have during the season regular supplies of refined from that colony. The first shipment of 200 tons of this class of sugar from the Yengarie refinery at Brisbane, came forward a short time ago, to the consignment of Messrs Connell, Hogarth, and Co, and will be offered shortly to the trade. We understand that already two cargoes of this sugar have been sold in South Australia and one in New Zealand. In teas we note the sale of 960 packages, half-chests and boxes congous, at prices ranging from Is 3d to Is Bd, and up to Is lOd. Medium and fine descriptions of congou arc now getting reduced in stock. In liquids, we note sales of O’Brien’s stout at 9s 3d.

THE AUSTRALIAN CORN MARKET.

Melbouune.— The “Australasian ” of the 19th ult, reports—The market for breadstuff's has been characterised by want of animation, notwithstanding- the intelligence by telegram yesterday of an improved feeling having sprung up at Adelaide, and reporting sales of wheat at 4s there. Flour has been quoted £lO 10s to £lO 12s 6d, but little business has been done ; £lO 15s has been occasionally obtained tor small parcels of best brands. To-day, at auction, a small lot was disposed of at £lO 10s; quotations continue to range from that figure to £10153. Wheat has been little enquired for. Under the hammer yesterday a portion of 205 bags offered was sold at 4s lid, but the balance was withdrawn. Privately little business has been done ; 5s is generally asked ; 4s lid is offered for prime and refused. We hear of a small lot of Western having been sold at 4s tod. Oats are very firm ; fine malting samples are readily saleable at improved rates, up to 4s 2d having been obtained to-day. 1000 bags are also reported sold privately at a full price. Maize is lower, with an exceedingly slack demand; sales are made at 4s lOd to 4s 10i-d. We quote—bran, is s}d ; pollard, is 4d to Is od; Victorian oatmeal, £27. Sales of Tasmanian hops, 1875 crop, have been made at Is lOd for medium samples. Adelaide.— The “Observer” of the 12th reports:—The market for breadstuff's has been in a disturbed state during the past few days. At the commencement of the week wheat was worth 3s 10W to 38 lid per bushel, at which sales were effected. There was an enquiry from Melbourne, and this slightly hardened prices. A parcel of 8000 bushels changed hands at 4s per bushel at Port Adelaide, but quotations were not sustained at this figure. Rumours of heavy failures in the grain trade in Sydney led buyers to hold off, and there was a perceptible fall in values here. Parcels were sold at 3s lid and 3s lOd per bushel, and the market is dull to-day at the latter rate. It is generally believed that the speculation which has been going on in Sydney for some time past in wheat and flour has unduly sustained prices here, and that now we shall see much lower rates prevailing. During the week telegrams have been received from English houses reducing their limits by 2s per quarter. This will give some idea of the condition of the home market. There is very little wheat coming in just now owing to the farmers being busy with their ploughing and sowing operations. What transactions are effected are done mostly with stored produce. In flour there has been some demand for shipment, and several lots of country have been placed at £O, £9 2s 6d, and £9 3s per ton. Town brands are quoted at £lO to £lO 5s per ton. Bran is in moderate request at about lid per bushel, and pollard 11-lcl to is per bushel. Cape oats are worth 4s 6d to 5s per bushel. Barley is without alteration. The exports for the week ending June sth reached 4680 tons, which make our total exportations for the season 95,000 tons. The following telegrams appear in the “Argus:”—June 15th. Wheat is quiet at 3s lid, June 17th. Large sales of wheat have been made at 3s lid; country flour, £8 17s Od.

ENGLISH COMMERCIAL; Messrs Miles and Co. report under date May Ith as follows: WOOL. Tlie second scries ot sales of colonial wool for the year commenced this aiternoon. The arrivals consisted of : „ , Bales. N. S. Wales and Queensland ... 50,606 Victoria 112,130 South Australia 37,430 Western Australia 6466 Tasmania „ ® 2ll New Zealand 36,423 Cape of Good Hope 31,178

Total .. .. 279,147 About 12,500 bales were forwarded direct to the North. , , , ~ ... The saleroom was well attended and the mailings were spirited, but prices showed no alteration from last sales. The quantity of New Zealand wool offered was too small for us to report full on. WHEAT AND FEOUR. There have been some heavy arrivals of foreign wheat since the date of our last report, and farmers have also been sending their stocks of English wheat on the market rather freely, but prices remain unchanged. Cargoes from Chili have been soiling at 42s 6d per 4801 b, and from California at 44s 6d to 458 per 5001 b ; from both countries there are reports of deficient harvests, but with respect to

the latter port, they are rather contradictory. Australian wheat is worth 488 to 60s, and New Zealand, 46s to 48s per 4961 b. Australian flour may be quoted at 3ls to 33s per 2801bs, and New Zealand 26s to 29a. TALLOW AND HIDES. There has been no material change to notice in the tallow market, and prices are without alteration, tlic value o( New Zealand good to fine mutton being 40s 3d to 41s, and fair to fine beef tallow 39s 6d to 40s 6d per cwt. Hides are in very limited demand, with a drooping tendency, and we quote New Zealand good sld, and ordinary 4jd per lb. NEW ZEALAND HEMP. There is an improved demand for this fibre, but the prices remain about the same, and we do not look for any advance, while Irish and Manilla hemp keep so dull with drooping in value. The bulk of the stock is, however, held off the market. The prices are about £24 for fine, .£2O for good, £lB for fair, and £l3 for common. PRESERVED TINNED MEATS. The market still remains very dull, and although there is a fair quantity going into consumption, the prices paid are very low, (ilb mutton selling at -f id per lb. The New Zealand Loan and Mercantile Agency Company reports on May 4th : CORN MARKET, Since our last report there have been several arrivals of wheat cargoes off the coast, which, until within the last few days, were being disposed of at advanced prices, there having been a good general millers’ demand for all kinds of wheat, especially for Ireland. The market now is somewhat easier for Black Sea and American cargoes, which have declined Is per quarter from top prices ; Oregon and California being sustained at the improvement recently'established. Chilian has been sold at 42s 6d per 4801 b c.i.f. arrived, Californian at 44s to 45s per 5001 b. and Oregon at 47s per 5001 b. Late advices from Chili report very deficient crops, which will lea. c no margin for exportation, while Californian accounts are no longer unanimous as to the yield of the coming crops of that State ; prices in San Francisco have risen to the equivalent of 47s per 5001 b c i.f, and shipments are being made on a decreased scale. Our present rates do not admit of remunerative shipments of wheat from either France or Russia, although supplies of flour from the former country are received at intervals, and the Baltic scuds a moderate quantity of high-priced wheat to this market. Farmers’ deliveries from Ist September last to 24th ultimo reached 8,202,000 quarters, as compared with 6.933,000 quarters for the corresponding period of the previous cereal year. Stocks in granary are still very low, and the late moderate foreign arrivals have gone into immediate consumption. The weather has, on the whole, been very favorable tor our growing wheat plant, several days of warm and dry weather having been succeeded by gentle rain ; there are, however, complaints in regard to grazing crops, A few lots of Tasmanian wheat of the new crop are being landed, but no Australian or New Zealand has yet arrived, and the following quotations must be considered nominal— Australian wheat 48s to 60s per 496 lbs New Zealand wheat 45s to 48s per 496 lbs Australian flour 30s to 32s per 28(1 lbs New Zealand flour 26s to 30s per 280 lbs NEW ZEALAND HEMP. Of this fibre 64 bales were brought forward on the 7th ultimo at public auction, but withdrawn, and at a subsequent sale on 21st idem only 50 bales out of 202 offered were disposed of at from £l7 5s to £2l 5s per ton for ordinary to fine. Privately, small sales have been made at lull prices, there being rather more demand latterly in consequence of the low rates which have ruled for some time. Good clean qualities .are inquired for, and realise £l9 to £2l per ton, but ordinary half cleaned do not bring more than £ls to £lB per ton. Subjoined will be found statistics of stocks, landings, and deliveries of New Zealand hemp, prepared to 30th April;— 1874. 1875. Stock on 30th April ... 2466 tons 1766 tons. Landed January-April ... 1129 „ 168 „ Delivered do .. 530 ~ 397 „ Landed during April ... 249 ~ 16 „ Delivered do ... 104 „ 118 „ Imported during the four weeks to 29th April, 10 bales. We are without auy further advices of shipments. AMERICAN COMMERCIAL. San Francisco. — Our advices are to the 24th May. From the “Alta California’’ of that date we quote:—Business in all its branches of trade progresses slowly. Reports of injury to the crop of winter wheat, have been set aside for the moment, and the grasshopper plague substituted. The reported destruction by this insect, however, is greatly exaggerated, and not been authenticated to agree, are not. likely to have any material effect. The supply of money seeking employment has been larger than for previous weeks, and rates of call loans are easy at a range of 2 and 3 per cent. Mercantile paper is sought for, and prime grade readily placed at 4to per cent. Gold has ruled strong, with very little fluctuating in rates, the range has varied from 15£ to 16|, with dealing chiefly at 16£ to {. In foreign exchanges there has been a further decline, but closes up about steady at 4dol 86ic to 4dol 86§c for time bills, and 4dol 89|c to 4doi 90c for sight. Breadstuffs—Flour offerings have increased and prices are lower Wheat has been available and lower ; the feature of interest has been dealings for future delivery, which have been quite liberal in spriug grades. Winter wheat is held with much confidence, and but few lots available. Present prices, however, will be difficult to obtain after the increase in spring wheat which is expected from California. The export movement is insignificant and only to all freight engagements. Barley and barley malt were scarce, but quiet. The wool market does not. show improvement as regards amount of trade in progress. The new clip of California, although in little better assortment, is not taken in other than in small lots, parties awaiting more settled feeling on rates at ports of production. Sales of California are 192 bales and 85,0001 b new spring at 30c to 35c ; 12,0001 b old spring, 22c to 29c; 138 bales and 43,0001 b fall, 15|c to 22c ; 341 bags, scoured, 65c to to 72Jc ; 25,0001 b fall lambs’, private. At Boston there has been no business doing. California continues to sell close up to receipts, and in one or two instances dealers report engagements of their best lots to arrive. These wools are taken to supply the needs of the manufacturers for flannel, &c, in preparation for the fall trade. The range in price is from 250 to 33c, the outside figures for choice, free from burr, long-stapled good Northern fleece. Sales of 363,50001 b spring at 23c to 40c, and 78,0001 b fall at 8c to 25c. The “ Weekly Alta California” reports:—Brooms—Common, 3 dol 50c to 4dol, and 4 dol 50c for the three numbers; star extra, sdol 590, 6dol 25c, and Cdol 75c; spiral, corrugated or braided hurl, sdol 630, 6dol 50c, and 7dol 50e; ship, 3dol 60c; mill, 6dol 50c to 7 dol 50c; brewery, sdol 50ej toy, 2dol 25C; stalk handled, 2dol; wood handled, 2dol to 2dol 25c; velvet top whisks, 3dol, 3d0150c, and 4dol per dozen, according to the number. Case Goods—The market has been rather quiet during the week. We quote eastern oysters at Idol 50c to 2dol 50c; clams, 3dol 50c; lobsters, 2dol 25c for lib cans; sardines, 1 dol 70c to Idol 75c for quarters, and 3dcl 15c to 3dol 25c for half's; turkey and chicken, 4dol 15c to 4dol 250; eastern green corn, 2dol 25c to 2dol 75e, as to brand; pineapples, 2dol 25c; California table fruits, 3dol 75c to 4dol; blackberries, 2dol 75c to 4dol; table peaches. 4dol to 4dol 25c; jams and jellies, 3dol 75c; green peas, 2dol 75c to 3dol; string beans, 2dol 75c; tomatoes, Idol 75c to 2dol per dozen 2ilb tins.