COMMERCIAL.

New Zealand Mail, Issue 27, 29 July 1871, Page 10

COMMERCIAL.

New Zealand Mail Office, Friday Evening. The last week of the month is usually one in which the least business is done at mos periods of the year, and, owing to the bad weather that has prevailed during the past week, it has if anything exceeded its prede cessors in dulness, there being literally no transactions of sufficient importance to call for any remark, Flour continues without alteration at our last week’s quotation, of £l6 to £l6 10s for Canterbury, with no sale to any extent. Oats are dull at 3s to 3s 2d for prime samples. Groceries —market fully supplied. In spirits, holders would be willing to accept lower terms to clear off a portion of their stock, and quotations may be looked upon as nominal. Martell’s brandy, pale and dark, in quarters, is quoted at 7s 2d to 7s 3d per gallon ; cases, 28s to 29s per case. O.P. rum, 4s 2d for 10 0.p., but lower rates would doubtless be accepted for a parcel. Kerosine, dull; market stocked for present wants. Candles are low in stock, hut unaltered in value. Several auction sales have taken place, at which large amounts have been cleared off, but the prices havo in every case been low and unsatisfactory.

Tho establishment of an extensive trade between California and New Zealand may now fairly be said to be an established fact. Gradually the manifests of the vessels engaged are creeping up, and not only do the gigantic boats of Webb’s line obtain full cargoes, but so also do Hall’s boats. However, the tide is clearly in favor of Webb’s boats, as their increasing popularity demonstrates. On this trip the Nebraska brought over 3672 packages of sugar, the largest shipment, probably, that has yet been received by any steamer on the Californian line. Her cargo also included, for Auckland, 200 cases of salmon. It is rather curious that, although the City of Melbourne left for Sydney direct only a few days before the steamer connecting with the Nebraska, the latter vessel fetched 289 packages for Melbourne and 200 for Brisbane. That the City of Melbourne is not a desirable boat for the conveyance of cargo may be inferred from the fact that a large quantity of dry goods, insured in London for £6OO, were sold ut auction on underwriters’ account at Honolulu, on July 3, being damaged by sea water. The following items of New Zealand produce were also quitted at the same sale : —New Zealand potatoes, lfc to 2c per lb ; New Zealand cheese, 11-lc to 17ic ; bread, to 5e ; New Zealand soap, s|c ; 1-inch to rope, 15£c to 16|c per lb ; superfine flour, per barrel, 7dol 25c ; extra family flour, Bdol 25c. It will scarcely pay to export cheese for sale at Honolulu at s£d per lb, but if it was saturated with seawater this may be considered a good figure. The English news received by the Nebraska must be regarded as most favorable. The stoppage of the war has made way for the industrial powers of the French, and their transactions in wool have been very large for two months past. In America, too, such a revival of staple manufacturers has set in as to hold out most encouraging prospects to New Zealand growers, who must have suffered not a little by the depression which has ruled for some time past. On the condition of the wool market, an English paper says : —“ One of the evils of the late European war is the great advance iu the price of wool and woolen fabrics. The most marked change is in low-priced, from which blankets and clothing have been made. Such vast quantities of stock have been used necessarily by both armies, that there is almost a wool famine in Europe in these grades. The same is true to a considerable extent here. As an example, in the lofts of one of our largest houses, where usually may be found hundreds of tons of wool, was seen a few days since one solitary bale. The effect of this is seen especially in the rapid advance of the price of carpets, which are made from these coarse wools. The sterling price has advanced in England three times during the past few weeks, and a further advance still is expected. Our own manufacturers have also found it necessary to advance their prices in self-protection, and it is said there can be no decline until the next clip, a year hence.” Treating of another extensive manufacture, an American paper says :—“The steadily advancing prices of cotton, during the last few weeks, have carried with them an advance in standard cotton manufacturers. The principal cause of the advance in the staple is the heavy ‘ short’ interest, combined with the prospect of a short crop, and the restoration of peace in Europe. The reports from the Southern States are very unfavorable for the growing cotton crop. The acreage planted is fully 10 to 12 per cent, less than last year, and the weather has been so unpropitious that the plant is backward, and, in many sections, in so thickly a condition that not much more than half of last year’s production is looked for by some Southern authorities.”

The latest “News of the World” has the following encouraging remarks on the state of the wool market of America :—The wool market of the East has undergone great excitements, consequent upon the wool famine in Europe, where the Btoeks are reported exhausted by the use of the armies. At Boston this week the excitement in the wool market, noticed in our report of last week, continues without much abatement, and the transactions

have been the largest we have ever had to report, amounting to 3,500,0001b3, .of which 2,177,0001bs were Australian, New Zealand, Cape Mestiaa, and other foreign ; 555,0001bs California, and the balance all grades and qualities of domestic offering at the current rates. If we had even a respectable assortment of domestic fleece, it is evident that the sales would have been even larger, as prices here scarcely keep up with the extreme rates paid by manufacturers and dealers in the interior.

Prices, as previously noticed, are steadily tending upward, and we see nothing at present to keep in check this upward movement, unless the numerous buyers at the West, purchasing for manufacturers and dealers, in many cases without limit as to pi’ices, are withdrawn from the market.

The sales for June included 970,0001bs Australian and New Zealand at 44 to 55 cents ; principally Australian at 47 to 51 cents. G. and J. A. Noble’s flax report, published expressly for New Zealand, has the following items : —The public sales since our last report exposed about 2,300 bales, of which 1,130 bales found buyers at about previous rates. After the sales, in consequence of a demand for export, a further quantity was placed at, in some cases, an advance of previous rates. The following sales affecting Wellington exporters are given : —Ex Eleetra at Wellington —G & 0 Al, 29 bales sound sold at £2B per ton ; PHL, 19 bales bought in ; HE, 52 bales, bought in j CHB, 63 bales bought in ; M, 18 bales bought in; CAW, in heart, 23 bales bought in ; McE, in diamond, 20 bales boug lit in ; R&G, in diamond, 1 bale, sound, bought in; do, 37 bales, do; do, 28 bales, sound, sold at £23 5s per ton, dgs. in pro. ; WE, in diamond, 52 bales, sound, bought in. Ex Estrella, from Wellington —H & Co, in diamond, 1 bale sound sold at £25 15s ; do, 7 bales, sound, sold at £24; do, 1 bale, sound, sold at £25 10s.

A proposition that must prove of incalculable advantage to the commercial interests of New Zealand has been set afloat and acted upon by the Auckland Chamber of Commerce in such an energetic manner as to stamp the merchants of that city, if they never earned the reputation before, as men of great foresight and capacity. The proposition cf which we speak is the establishment of a Commercial Board in London, composed of representatives from New Zealand, for the protection of New Zealand commerce. Merchants engaged in commercial transactions of any magnitude with the old country, particularly those who have large dealing in our export trade, will at once take in the scope of such a proposal, and, with their better opportunities of balancing the advantages such a board would confer on our trading system in watching the proper landing, and storing, and the general care of our flax and wool—more particularly the former, the trade being even yet in its infancy—they will, we imagine, be the more ready to award their support to the proposal should the merchants of Wellington be called upon to express an opinion in the matter. The idea of forming a London Board to protect New Zealand interests originated in consequence of the discovery of a series of frauds that were systematically perpetrated at the London wool sales, by which sellers were losers to a very large extent. The operations of the Board are not to be confined to guarding the wool-pro-ducing interests. All commercial questions of interest to the colonies will be brought before it. We hope therefore to hear of the establishment of such an agency soon. We have little doubt of the success of such a plan if framed upon a proper basis, because we already see many ways in which our commercial fraternity might improve the occasion by making the agency not only the safeguard of New Zealand commerce, but also a source of profit, by its undertaking the conduct of transactions at present entrusted to the numerous agencies of England. The suggestion is one worth consideration. ENGLISH COMMERCIAL. (N.Z. Loan Company’s Circular, June 12.) WOOL. The second series of wool sales of the year, which were still in progress at the date of our last-issue, terminated on the 17th ult, the quantities actually catalogued falling short of the total arrived by 4000 bales odd, which may be fully accounted for by private sales and direct consignments to the country. The advance in price which we advised by the previous mail was, with the exception of a rather important fluctuation in lambs’ wool, firmly maintained to the close of the sales, and this principally owing to the continued support of the Continental and in some measure the American buyers. Of the whole quantity offered it is estimated that about one half was taken by the Continent of Europe, and from 7000 to 10,000 bales for America, leaving from 80,000 to 90,000 bales only out of a total of 192,340 for consumption by the home trade. The sudden and rapid recovery in the foreign demand has been the most surprising feature in the market, and though it i 9 in some measure due to temporary causes, the great and steady development since the close of the war of the normal channels of consumption encourages the belief in continued support from that Bection of the trade, and taken in connection with the existence of a new element of competition from America, and the active cendition of and the paucity of stocks of raw material held by the home branches of the wollen industry promise well for the June series, which will open on the 22nd of that month. It must be a cause of congratulation with all sections of wool growers that, after events of such importance, and so disastrous to trade as have been witnessed during the ten months following the declaration of the war, the value of the staple should again exceed by a material percentage the best quotations of 1870. The arrivals for the June series are as follows Sydney and Moreton Bay, 33,824 bales?

Victoria, 43,186 ; Tasmania, 4395 ; Adelaide, 7121; New Zealand, 26,903 ; Swan River, 2500 ; Cape, 17,338 ; total, 135,267 bales.

TALLOW. There has been more firmness in the tallow market during the last four weeks, and prices have advanced about 9d per cwt. for fine qualities. Of 10,000 casks Australian and New Zealand tallow offered at public sale, 9600 found buyers at from 42s 9d to 365, for mutton ; and 41s 3d to 36s for beef. There have been some orders here from exporters for Continental consumption, bub it has been for inferior qualities at about 39s to 40s. Russian tallow is very quiet, speculation being inactive, present prices offering no inducement to operate eilher one way or the other. In Colonial produce there is a fair trade doing at 42s to 43s for fine mutton ; 40s 6d to 41s 6d for beef; Is per cwt less for inferior qualities.

NEW ZEALAND ELAX. Since our last report there has been only a moderate business doing, the holidays to some extent interfering. The trade otherwise is healthy, and at about late rates. We fully anticipate the continuance of a good demand both for home consumption and export. There has been no auction since 10th May, when 2160 bales were offered, which met a good demand, and were almost all placed at and after the sale at full prices, and for fine at a slight advance. Since then the market has been better, and as some considerable shipments have been made to Canada and the United States stocks have been diminishing, and moi’e money is now required by holders. We quote common, £l4 10s to £l6 ; good common, £lB ; medium, £2O 10s to £25 ; good medium, £25 10s to £27 5s ; fine to very fine, £29 5s to £3B per ton. The packing of a good portion of the late arrivals has caused serious complaints, especially when purchases have been made for export. Shippers will do well to keep this matter well in view, and avoid sending the flax in large unsightly bales (or we might say packages), as some parcels have come to hand quite unfit for reshipment without being repacked. ENGLISH STOCK MARKETS. (New Zealand Loan Company’s Circular, June 16.) The English Euticls owing to the aboundance of money are firm, and show an improvement. on our last month’s quotations. Foreign Stooks. —Most of the scrips of the New Loans are enquired fur. A Turkish Loan of £2,000,000 odd is to be brought forward in a day or two. On the 18th May an issue of £2,622,781 Spanish Six per cent. National Lunds Mortgage Certificates at 80, redeemable at par, within 17 years at latest, was effected.

New Zealand Consols. —The last instalment of the New issue was payable on 30th ulto, and there will now be no distinction between old and new. The public continues to absorb the stock, and as the holdings in first hands are reduced, a sensible improvement in value will be preceptible. Tenders for the Tasmanian Government loan for £52,800 in six per cent, debentures were opened on the lltli May, at the Bank of New South Wales. The total amount tendered was £182,200, all tenders at £lO5 lls 6d rereceived allotments to the extent of 3 7ths of the amount applied for, all above that price were allotted in full. The sealed minimum was not opened. At the annual meeting of the Trust and Agency of Australasia, the report was adopted. The distribution declared was 3s per share, making 20 per cent for the year. THE SHARE-MARKET. (“ Southern Cross,” July 22.) Mr J. Tonson Garlick reports sales this day : Caledonians, £122, £127 10s, £l3O, ex div.; Thames, £24 to £25 ex div.; Kelly’s, 75s ; Poverty and Charleston, £B. Mr H. V. Stevens reports sales : Cure, 12s 6d ; Nonpareil, 80s to 87s 6d ; Thames, £25 ; Crown Prince, 4s. In demand—Tookoy, Thames, and Caledonian. Mr J. M. Lennox reports : Business to-day was almost exclusively confined to Caledonian and Thames stocks. Holders manifest a decided disinclination to sell at present quotations. My sales comprise—Caledonians, £126, cum div.; £125 ex div. to £132 ex div.; Thames, £25 cum div. to £26 ex div.; Nonpareil, 90s: Golden Calf, 40s. The market closed with an upward tendency. Closing: Buyers, Caledonian, £130; Thames, £25 10s. Mr Martin Sholl reports—The market active, with an upward tendency in most of the leading stock, and a continued demand for Caledonian, Thames, and Tookey. My sales comprise—Caledonians, £125 to £l3O, ex div; Nonpareil, 90s ; Una, 225; Tokatea, 72s 6d. Buyers for Caledonian, Thames, Tookey, and Tokatea at current prices. Inquiry for Long Drive, City of London, and Central Italy. Yulcan offered at £ls.

MARAVILLA COCOA.—No breakfast table is complete without this delicious beverage.—The “ Globe” says :—“ Various importers and manufacturers have attempted to attain a reputation for their prepared Cocoas, but we doubt whether any thorough success has been achieved until Messrs Taylor Brothers discovered the extraordinary qualities of ‘ Maravilla’ Cocoa. Adapting their perfect system of preparation to this finest of all species of the Theobroma, they have produced an article which superseded every other Cocoa in the market. Entire solubility, a delicate aroma, and a rare concentration of the purest elements of nutrition, distinguish the Maravilla Cocoa above all others. Eor homoeopaths and invalids we could not recommend a more agreeable or valuable beverage.” Sold in packets only by all Grocers, of whom also may be had Taylor Brothers’ Original Homoeopathic Cocoa and Soluble Chocolate. Steam Mills—Brick Lane, London. Export Chicory Mills, Bruges, Belgium, Advt.