COMMERCIAL.

New Zealand Mail, Issue 13, 22 April 1871, Page 10

COMMERCIAL.

New Zealand Mail Office, Friday evening. The election for Superintendent, although marked by the absence of all excitement, together with the bad weather of the early part of the week, haTe interfered considerably with all business operations. Times continue as dull as ever, nor is there any alteration to report in prices, the few transactions that have come under our notice serving only as indications of the total absence of all speculative feeling. Flour laggingly sustains the advance we noticed last week, although stocks must be low, and dealers show no disposition to operate. Sales of Canterbury flour have been made at £l3 5s to £l3 10s per ton. Oats hang heavily on importers hands in spite of the inducement of low prices and may be quoted at 2s 9d to 2s lOd per bushel for first-rate samples of new. Barley is in no demand for malting feeding sorts being worth 2s 3d to 2s 6d per bushel, with little inquiry. Chick wheat saleable at 2s to 2s 6d per bushel. ENG-LISH COMMERCIAL. Flax.—Messrs Gr. & J. A. Noble report as follows on Feb. 3rd :—New Zealand.—This market has bfjen dull throughout the month, the bulk of parcels offering not being of sufficiently good quality to tempt buyers to operate beyond actual requirements, really fine parcels maintain their value; this fibre being only used, to any extent, for roping purposes, partakes of the general dullness cf the hemp trade. They also give *h? following prices : —New Zealand, dressed (good), £3O 10s to £36 10s j common, medium, £l7 to £2B 10s; rough, £ls to £l6 10s. Tickle & Co report:—On 19th January, 1,333 bales New Zealand were offered and met a good demand, about 900 bales sold at higher prices, ordinary uncleaned £l6 5s to £lB, middling more or less cleaned £2l 5s to £26 ss, good middling to good chiefly cleaned £27 5s to £3l ss, fine cleaned £36 10s to £36 15s, tow £8 10s to £l3 10s. On Ist February, 1530 bales New Zealand flax met less demand, and only 650 bales sold at a decline of 30s to 40s per ton, ordinary £l6 to £l7 ss, medium more or less cleaned to chiefly cleaned £2O to £26 per ton. Peesebved Meat.—On 31st January, of 1105 cases Australian preserved meat, a part sold, boiled mutton in 41b tins at 6£d, 61b tins 6d, 71b tins s|d, collapsed 4£d, boiled beef in 41b tins 7-ijd> 61b tins 7£d, spiced ditto in 61b tins at 7d, collapsed 6d, the remainder withdrawn or bought in, boiled mutton in 51b tins, collapsed at 5Jd up to 8d in 21b tins, boiled beef 7d to Bd, stewed kidneys Bd. 24 casks mutton hams withdrawn. 196 tins Australian essence of meat bought in, beef Is, mutton 9d to Is. Tallow.—" Tickell's Trade Eeview" for February reports : —On 20th January a good supply was offered, but there being less competition, sold at rather easier rates for sheep, but at full prices for beef. Of 1139 casks Australian 578 casks sold. Sheep fine 44s 6d to 44s 9d, good 44s 3d On 27th January a , considerable quantity was offered by auction and met a rather sluggish demand. Of 2139 casks Australian brought forward only 910 casks found buyers at previous rates for sheep and at about 6d decline for beef. Sheep, fine, 44s 6d to 44s 9d, good fair to good 44s to 44s 3d, dull yellow to fair 42s to 43s 6d, more >r leas dark and inferior 38s to 41s 9d, mixed melting good fair to good 41s to 425, rather dark to fair 38s 6d to 40s 6d, more or less dark 37s to 38s, greasy 36s 6d, very dark firm rather dreggy 36s 6d, very greasy 355, grease 54s 3d. Beef fine 425, rather dark to good fair 39s 9d to 41s 6d, dark to very dark 38s 9d to 39s 9d, one lot nearly black 34s 3d. On 3rd February,*a good supply was brought forward and met only a languid demand at irregular prices, and in some instances 6d to 9d decline for sheep and about 9d to previous rates for beef. Of 2252 casks Australian 1321 casks sold, sheep, fine 43s 6d to 44s 6d, rather dreggy yellow to g. od 41s 8d to 43s 9d, rather dark 40s to 40s 9d, more or less dark 38s to 39s 6d, very dark 36s 9d to 37s 3d. Mixed melting fair to fine 40s to 425, dark dreggy to rather dark fair bodied 36s to 39s 6d, very greasy 35s down to 34s 6d for very dark rather dreggy, and 33s 6d for nearly black. Beef, fine 41s 3d to 425, fair to good 40s 9d to 41s 9d dark and rather dark 38s 9d to 408 6d, darker and very dark 36s 6d to 375. On 10th February, a good quantity was offered, but the demand continued languid, except for the low

qualities, and of 2660 casks only 828 casks sold at 6d decline for the better qualities of sheep. Of 1429 Australian, 610 cn&ks sold, good to fine sheep 42s 6d to 43s 9d, fair to good fair 41s 9d to 42s 3d, dark to middling 38s 6d to 4ls 3d, good fair to good mixed melting 39s 6d to 40s 9d, rather dark to fair 38s to 39s 3d, dark very greasy to fair bodied 35s 9d to 37s 9d, dreggv 35s 6d, watery 34i to 34s 6d, very dark 355, low greasy and dreggy 325. Beef, fine 41s 6d to 425, dark to good 38s 6d to 41s 3d, very dark 37s 9d to 38sAt the annual meeting of the Maritimo Insurance Company, says " Tickell's Trade Circular," allusion was made to the frequent frauds practised on underwriters by speculators, who systematically buy up rotten ships, load them to the scuppers, and, having insured them and the cargoes heavily, despatch them on long voyages, with the well nigh certainty that they will founder. It was stated thafe this class of fraud is continually on the increase, and that England stands a chance of becoming known to posterity as a nation of scuttlers and wreckers. Alarming as this statement appears to be, the remedy is very simple ; it certainly can be no difficult matter for the Marine Insurance Companies to exercise a little more vigilance as to granting policies on unseaworthy ships ; and if it is true that, men are regularly employed to prowl about the docks looking out for any crazy old craft that they can buy up for this nefarious trade, the officers of the companies ought to be able to detect them, and all proposals to insure declined. If the underwriters and the offices were not so eager for business, and if it were made penal not only to insure, but to grant policies on unseaworthy vessels, we should hear less of disasters at sea.