COMMERCIAL.

New Zealand Times, Volume XXX, Issue 4404, 1 May 1875, Page 2

COMMERCIAL.

The Customs duties received at this port for the week ending April 29,1875, were as under: - £ ». d. £ s. d. Spirits .. .. 475 10 5 Ooodsby weight 233 16 1 Clears .. 74 12 6 Do. ad valorem 2334 14 11 Tobacco!. .. 16115 0 Do. other dute 435 16 8 Wine .. .. 45 6 8 Light dues, Ale .. .. 142 7 6 shipping &c. S 3 6 3 Teaand Coffee 333 7 0 , ■ Sugar .... 180 6 2 £4460 15 2 The import trade of the past week has been unusually brisk, owing to the discharging of the Sunbeam, Edwin Fox, Mercury, and Light of the Age, and large arrivals of flour and grain coastwise but unmarked by any variation In former quotations. At Mr. E. J. Duncan's sale of spirits, grpcerics, &0., .on the 28th Inst., the attendance of the trade was largo, but the biddings were in most cases below the rcscrvo, and the bulk of the goods -was withdrawn, although a

considerable amount was disposed of at rather unsatisfactory prices. Blsquit Dubouche brandy, in quarters, fls. 7d. to 6s. 9d. per gallon ; Associated Vineyard do., 6s. 10. per gallon; Hennessy's do., Bs. lid. per gallon. Case brandy, duty paid, 40s. .to 4Ss. per dozen ; Hennessey's do., 645.; JDKZ Genevo, 28 0.p., 14s. 6d., per case in bond; bell brand, 4 gallons, 13s. Red Hart rum, in case, d.p., 525. per dozen ; Lemon Hart, do., in quarters, 10 0.p., 4s. per gallon In bond. Bruno Silva's port, 4-diamond, in quarters in bond, 9s. 6d.; 3-diamond and 3-star, lis. per gallon; No. 2 Moselle, 515.; Epernay champagne, 425. per dozen. Bass's ale, triangle, lis. 6d.; Guinness's stout, lis. 3d. per dozen quarts ; Jeffrey's ale, 10s. 3d. Teas, half-chests, Is. sd. to Is. lOd. per lb.; boxes, 19s. to 235. Victoria Company's Y sugar, £34 10s. per ton. Sperm candles, 9Jd. to lOd. per lb., for Brandon's and Belmonts, &c, &c. Cornsacks have met with some inquiry for the Southern provinces, and we report sales at lis. 3d. per dozen. Company's sugars are in fair supply, at £43 to £43 10s. for IC, C £4O to £4l, Y £35 10s. to £36. Teas, in moderate demand, at fair rates for now season's teas. In liquids, a failamount of business has been done at auction, but generally trade is moderate. Hennessy's case brandy s low in stock, and other brands are consequently reaping the benefit of the scarcity. In the produce market, flour has advanced 20s. per ton, owing to the largo orders in the hands of the Canterbury and Oamaru mills, gutter in kegs is still in little inquiry for shipment, and may be quoted at Is. 3d. to Is. 4d. per lb. for prime cure. Bacon and hams are scarce, and in good demand at former rates. Feeding grains unaltered, with little business doing.

LONDON WOOL MARKET. Messrs. Windeler and Bowes' Wool Circular, dated 19th February, is as follows ; The rapid arrivals of new wools for our next auctions—bringing the total now at hand to 209,416 bales —has tended to increase the depression which has ruled in this market since the opening of the year; the amount of business doing of late has been very contracted, and buyers are now entirely holding off till the result of the opening sales can be seen. The feeling on all sides is that lower prices must rule; we may anticipate, however, that representatives from all departments of this trade will numerously attend the commencement of the sales, and it is possible that the low stocks of wools generelly held by consumers may require them to operate more freely, and cause the decline to be less important than is currently anticipated. The advices from America have been slightly more favorable, but still the possible alteration of the tariff there, increasing the duty on wools, fails to encourage buyers of goods for that market. Should such a change take place it would stop orders for wools from our auctions, but it now appears probable that the question will not be entertained in its present form. The new River Plate wools into Antwerp, where they are not held strictly for- public auction, have been meeting with a ready sale, and a brisk business has been doing there during the past month. The condition of them, as compared with the previous clip, is proved to be superior, and they are thus selected even at an advance on late quotations, while old stocks have been neglected. Auctions commenced there on 16th, and will last till the 24th inst., the total quantity to be brought forward being 18,000 bales. The first catalogue offered 2122 bales, out of which 1641 bales were sold at about late quotations. The attendance of buyers was large, and the result may be regarded as satisfactory. At Havre auctions were held on 20th to 29th January, and 5500 bales, chiefly new clip Monte Video and Buenos Ayres, were sold out of 7450 bales offered. The stock there now is only 3853 bales of River Plate, against 8206 bales at same period last year. Auctions of Australian and Cape sheepskins with wool on take place here to-day. At the sales of River Plate skins held in-Liverpool on 3rd inst. there was a good spirit, and all full woolled parcels sold readily at firm prices, but inferior classes were neglected.

LONDON COLONIAL MARKETS. The New Zealand Loan and Mercantile Agency Company's report, dated London, March 9, is as follows : Since the despatch of our circular No. 03 by the Californian route on 9th ultimo, three mails from the Australian colonies and New Zealand have been delivered—viz., via Suez and Brindisi on 15th ■ultimo, via San Francisco on 22nd Idem, and by the latter route the January mails yesterday came to hand. We are thus put in possession of dates from Sydney to 15th January, Melbourne 31st December, Adelaide 2nd and New Zealand 22nd January. Money Market.—At the date of our last circular via San Francisco, the Bank of England minimum rate of discount stood at 3 per cent., expectations being entertained in some quarters that a speedy and perhaps considerable advance would have to be made. A cessation of withdrawals of gold on French account, coupled with reports of increased firmness in the Paris" Exchange, delayed the anticipated rise until the 18th February, when the directors announced a change in the minimum to 3J per cent., the reserve having fallen to 41| per cent, of the liabilities as Shown by the return then issued. This step had the desired effect of checking the demand just then beginning on American account, and during the succeeding week only £15,000 was taken from the bank for export, against an influx from the provinces of £216,690. According to the weekly statement made up to 3rd instant, however, a decrease in the stock of coin and bullion of £228,007 had occurred, owing to withdrawals for abroad of £233,000, against a contraction in the internal circulation of only £4,933. The net decrease in the stock of bullion for the four weeks preceding was £383,404, being the difference between £1,040,000, taken for export, and £650,596 returned from the provinces. The reserve in the banking department had fallen to £9,779,02G, against liabilities £24,739,141, or39£ per cent. In consequence of the revenue payments to the Bank of England, which at this period are heavier than at any other, the open market has become somewhat more bare of loanable capital, the rates ruling outside the parent establishment are, therefore, at present fully up to the official minimum : and in view of the efflux of coin to the provinces usual at the end of March, the market, though at the moment steady, has indications of a probable upward tendency ere long, unless arrivals of the precious metals should come to hand unexpectedly. Exports of gold coin and bullion during the past four weeks have been on a less extensive scale than for the preceding month, having amounted to about £1,400,000, part of which has been shipped to the United States, Canada, and South America, bnt the greater portion has gone to the Continent. The imports for the same period have reached £881,300, of which Australia and Japan have contributed the largest share. It is stated that the German Government purposes coining only equal to £2,500,000 in gold during the current year. The supply of this amount is not expected to exercise any disturbing influence on our money market. Stock Markets.—Scarcely any noticeable change has occurred in the market for investments since our last San Francisco circular, The continued advance in quotations of Home Railway Stocks has raised them to a point considered by many to be dangerously high, notwithstanding that the weekly traflic receipts in nearly all cases show an increase on those of last year. New Zealand Fonr-and-a-Half per Cent. Loan for £4,ooo,ooo.—This loan authorised by the Immigration and Public Works Loan Acfc> 1874, passed by the New Zealand Parliament, has been introduced in this market by Messrs. N. M. Rothschild and Sons. It is announced that £3,000,000 are for the construction of railways, £500,000 for other public works, and £500,000 for immigration. The loan is secured on the Consolidated Revenues of New Zealand, and will be raised on debentures representing. £IOOO, £SOO, £2OO, and £IOO respectively, interest being payable half-yearly by coupons. The price of issue it 94 per cent., payable by instalments, subscribers having the option of paying in full under discount at 5 per cent, per annum.

New Zeaianjj Masoane.se Mines, Limited.—A dividend is announced of 2s. per share, or 10 per cent, on the capital of this company. Tallow.—At the public auctions which have been held during the past four weeks, 4334 casks Austra lasian tallow have been catalogued, of which 3Ooshavo been disposed of under the hammer. Prices realised have ranged from 275. to 41s. Cd. for mutton, and from 275. to 41s. 9d. for beef, one lot of fine mutton having been recently sold at 41s. 9d. These prices show a further decline on those current a month since, importers having met the market. At the reduction the market is steady, and deliveries have considerably increased. The demand at present is mainly confine! to trade requirements, which, however, to a large extent are supplied by home-melted tallow. P.Y.C., after falling to 395. per cwt., has since recovered to 40s. Cd., but the inquiry has somewhat slackened at this rise. Prices current are as follows: —F.Y.C., new, 40s. (Id.per cwt.;' Australian mutton, fine, 40s. 6d. per cwt.; do. medium, 40s. per cwt.; Australian beef, fine, 395. to 40s. per cwt.; do. low and medium, 375. to 38s. per cwt. Arrivals for the four weeks ended Cth March, 1507 casks. Ship.nents advised by the mails received since San Francisco circular No. 93, 2729 casks. Stock of all sorts on Bth instant was 17,540 casks, but will probably be sensibly increased by overdue Australian arrivals. Leather.—We have two public sales of Australian leather to report. On the 12th February, 2058 sides were catalogued, and met with a good demand, tho whole being cleared off at previous to slightly advanced prices. At the auctions held on 28th idem, 7009 sides were brought forward ; 6847 sides were disposed of at from previous rates to Jd. per lb. decline. Preserved Meats. —We are glad to report a continued fair demand for»the leading descriptions of preserved meats. Boiled beef sells readily at our last quotations. Two-lb. tins of boiled mutton are also in request, and an advance of id. per lb. has been established thereon, but 4 and 0-lb. tins being much in excess of requirements have been more difiicult of sale, and to effect clearances a decline of Jd. per lb. has been submitted to. For miscellaneous meats and soups there is still an absence of inquiry, and as they are in very plentiful supply no doubt lower prices will have to bo accepted in order to induce transactions to any extent. Corn Market.—During tho period which has elapsed since tho issue of our No. 93 circular for the San Francisco mail of the 9th February, there has been a general want of animation in the demand for wheat and flour, both in our market and tlioso of the provinces. Importations have been on a very moderate scale, and stocks in granary are decreasing, but as a change of wind will bring in a considerable fleet of wheat vessels, buyers are holding back. English deliveries of wheat continue liberal, but not excessive, averaging 55,528 quarters weekly for tho month of February. Tho supply at the principal points of accumulation in the United States on 13th February was 12,386,007 bushels of wheat against 11,400,954 at corresponding date last year. Shipments coming' eastward from tho interior were increasing, though moderate. The total quantity of wheat known to be on passage to the united Kingdom is 1,619,000 quarters, exclusive of what may be on tho way from the Baltic and near' Continental ports. Severe weather during tho past fortnight has somewhat interfered with tho sowing of spring corn, but as far as pan at prcsont bo ascertained, no Injury has boon done to the young wheat plants. In tho absence of'Adelaide wheat wo quote as follows :—New Zealand wheat, 455. to 48s. per 4901b5. ; Australian flour, 28s. to 30s. per 2801b5.; Now Zealand flour, 265. to 29a. per 280Ibs.

New Zealand HE»rr.—A large falling off in the consumption of this fibre has taken place since the heavy decline in the value of Manilla hemp to £29, buyers preferring to use the latter almost exclusively, to the neglect of tho New Zealand production. As there Is no prospect of improvement in Manilla hemp, but on the contrary, every appearance of a further reduction in price, holders of New Zealand have been rattier anxious to realise, and a further concession has been accepted. On the 17th February 129 bales were brought forward, and sold at £lB 10s. to £l9 per ton ; and on 3rd instant 012 bales were catalogued, of which 500 were reported as sold at and after the auctions at easier prices, the quotations realised showing a further decline of about 20s. per ton. BY TELEGRAPH. AUCKLAND, Friday. Mr. Buckland reports : —Fat cattle, 28s. to 355. per lOOIbs; fat sheep, full numbers, 3d. to 3fd. per lb.; longwools, 14s. to 10s. each. CHRISTCHURCH, Friday. Market quotations, free on board, Lyttelton—Wheat, 3s. 9d.; oats, 3s. to 3s. 3d.; barley, ss. 3d. to ss. 6d.; potatoes, £3; flour, £lolos. to £1110s.; bran, £5 10s.; sharps, £6. AVheat getting scarce; millers raised quotations of flour in consequence. Land sales to-day £2600.