COMMERCIAL.

New Zealand Times, Volume XXXII, Issue 5051, 1 June 1877, Page 4

COMMERCIAL.

The CuHtniiii diiih's received at this port, yesterday were as .tnflw :~ £ s. d. £ s. d. Spirits -. 08 10 5 I Ale (bottled) 12 0 0 Tobacco - - 77 0 0 Weight ... 10 U 2 Tea .. .. 30 8 G | Ad valorem . 7 12 4 Sugar.. .. 54 1 2f Coffee .. « 11 9 J Total ..£2OO 15 4 The Customs duties received at this port for the month ending May 31, were as under:— £ s. d. £ s. d. Spirits .. 4C24 1 8 Sugar .. -. 1507 12 1 Cigars.. .. 370 3 5 Opium .. 0 5 0 Tobacco .. 1011 13 9 Goodsbywgbt. 755 3 1 "Wine.. .. 420 0 9 Ad valorem .. 3019 17 8 Ale (bottled) 307 12 0 Other duties.. 245 2 4 Ale (bulk) .. 172 10 0 Tea .. .. 855 11 8 Coffee.. .. 102 0 3 Total £14.022 9 2 Corresponding month 1870, £13,059 14s. Id. The Customs duties.received at this port for the four weeks ending 24th" May, were a.s under: — £ b. d. £ s. a. Spirits .. 37»8 12 0 Goods by wght. 578 19 4 Cigars .. 250 10 5 Ad valorem .. 3710 5 10 Tobacco ..1312 14 3 Otherduties,. 237 10 0 "Wine .. 332 12 4 Light dues, lieer .. .. 384 1 3 shipping, &c. 085 9 G Tea .. .. 752 1 4 Coffee.. .. 74 8 3 Sugar.- ..154111111 £13,G55 8 5 The business of the past month offers no prominent features of interest, and has been unmistakeably dull from beginning to end. Stocks are very heavy, and until future importations are more restricted, the result will be an undoubted loss to importers, who seem unable to properly gauge the requirements of this market, and pour in cargo after cargo of goods which become d.'dly more difficult to quit at anything like a commensurate profit. The several auction sales that have been tried during the month sufficiently indicate that e«'«n at a loss buyers will not operate, and privately business is confined to the net ml wants of the retail trade. This condition of the market will naturally work its own cure, but in the meantime consignors will have to look in vain for favorable account sales. Our trade both in town and country IB steadily increasing with the constantly increasing population, but tiiorc is necessarily a limit to consumption. Wo have to report the failuro of Mr. James O'Shea, with liabilities amounting in the rough toabout£2'.»,ooo, A meetingof creditors w,%s held on the 17th, attended by the representatives of the London and Melbourne creditors, when a statement of his affair.-* was laid before them, which showed the assets tobe.Cli.COO less £3OOO held by secured creditors, leaving a deficit of ÜB.GOO ; and a pronostil was made by Mr. O'Shea to pay 5s in tfie £ cash. The creditors met again on the I'Jtfi. when an agreement to take 5s cash and 2s Ort at 4,8, and 12 months secured was proposed and agreed to, but as the? security was not forthcoming, the creditors at a meeting on the 10th determined that the estate should be wound up in bankruptcy, and that Mr. O'Shea should file a declaration of insolvency, which has since been done. This decision has given public satisfaction, as the case excited a good deal of comment, and the older established merchant;: wished that full publicity should Le given to the fucU connected with Mr. O'rfhea's failure for the sake of the credit of Wellington. At Mr. It. J. Duncans sale by auction on May 3 there was a fair attendance of the trade, but the biddings were languid, and the prices obtained far from satisfactory. 'Die following sales were effected : 50 casks Younger's ale, 10s 9d; Alsopp's, 9s 9d ; Younger's and Guinness' stout, !>s 9d ; pig brand do, 10s (Id; Kopke's port wine, in qr-casks, 7s9d per gallon in bond ; Nectar des I'riuces geneva, 13s per case ; Jted Heart rum, 22s per doz ; Lemon Hart's rum, 10 per. cent 0.p., 3s Od; do 30 per cent 0.p., 3s lOd ; White's do, 10 per cent 0.p., 3s Gd, per gallon for rjuarters ; Uullocksladc whisky, 14s Gd per doz; i C. V, f*. brandy. per doz ; Ormond Swiss cigars, 70s per 1000 ; C'ozzen's 5-diamond sherry, 10s Gd per etc, etc. Other sales have been held, but the i large lines weie withdrawn, as the biddings did not I reach the reserve—the business being of an entirely xetail character, <

The Ocean Mail, 1431) tons, which left here on March 12th, for London, with a cargo of wool and produce valued at £7«,320. was totally wrecked at the Chatham Islands on March 19th. Our arrivals during the month from London have been the Andrew Uriel, Sl4 tons, on the 18th, and the lieiilcdi. 1050 tons, on the 14th, with full cargoes ; the Kaglewingr, on the 27th, from Melbourne; the Jane from Hobarton, and tile customary steamers from Australian ports. The I'leione left for Calcutta on the 14th, and the Northampton for Newcastle, N.S.W., on the same The only vessel now on the berth for London is the Carnatic, which will be the last. wool ship of the season—to sail shortly. The following ships are loading or have sailed for this port :—From London : The Kobma 4!)3 tons sailed February 21 ; Queen of the West. 438 tons, sailed February 27; Wenningtoii, BS2 tons, sailed February 24; Broomhall, 4350 tons, sailed Marcii 3. Cityof Madras, A9O tons, and Olciilyon, COS tons, loading. The Ocean Chief had sailed from Xew York, and the Silas Fish, 702 tons, and Herbert lilack, 073 tons, were loading there for this port by last advices. The itesolutiori, chartered to load at Sin»apore, was wrecked on the passage up, but another vessel has been taken up to bring on her cargo. ~_ The Suez March mail was delivered here on May Oth. 'Die San Francisco April mail ,vas delivered here on May 21st. Itates of freight to London.—Grease wool, Jd per , lb.; washed do, £d per lb.; tallow, in cases, 00s; m ' casks, 70s: ami hides, s">s per ton. Bank rates of discount and exchange are as follow: —Discount on local bills, under 95 days, 7 per cent.; do, 125 days, 8 per cent.; do, over 125 days, 9 per cent. Kxchange on Loiu'on—Buying rate nominal. 1 Selling rate: at 00 days. } per cent, premium ;do CO 1 days, H per cent, do ;do 30 days, 2 per cent, do ;• on demand, 2.V per cent. do. Interest on deposits for 3 months, 4i per cent. ; do (i months, 5 per cent.; do 12 ' months, ;"4 per cent. Ale and porter (duty paid, bulk, Is per gallon : ' bottled. Is 3d do).—Stocks of bottled beer are heavy, ! and sales during the past month have been limited, '• there being only a moderate demand for trade parcels. Tennent's and other first-class brands of ales, 10s (id to lis 0d per dozen ; bottled stout, lis ad to lis 9d i per dozen, Knglish bulk ale is in better favor, and • sales of Bass's brew have been made at £lO per hogshead, r Bags and woolpacks (duty paid, 10 per cent;.—Cornsacks arc dull. We report sales at 10s (id per dozen, but the demand is slight, as stocks in the South are fairlv ample. Woolpacks, season over, full stocks. Candles (duty, Id per lb).—Owing to the active demand that has lately been experienced for Auckland and the "West Coast ports, this article has become ' lower in stock, and holders are now firm at lid per lb for foreign, and lid to lljd per lb for Price's . make. Cement (duty. Is per barrel).—Large supplies are I coming forward by the various English ships, and sales at ship's side have been made at 10s per barrel in bond, for large shipments. Ordinary trade lots are ' quoted at 21s to 23s per barrel. Coiree (duty, Sd per lb).—Usual trade doing, stocks ample. Confectionery (duty, 2d per lb).—Heavy stocks of Keillcr's make which, owing to the large ouantity now•manufactured locally, meets with less demand thifViiormerly, and dull of sale at 10*d per lb. Flour (duty, 20s per ton).—There is no stock of ' Adelaide Hour in the place, and as high as £24 per ton lias been paid for a small parcel. A shipment,of 200 tons is advised on the way, which should reach a favorable market. Fruits (duty. Id per lb).—Currants continue high, , and are worth 4Jd to 5d per lb, with an upward ten- ■ dency ; Lleme raisins, in moderate supply at lid ; sultanas. 7d : muscatels, Is Id: tigs, Sd ; and dried , apples, O.kl per lb. An active trade lias been done in dried fruits during the month, and as the season for ; gveen fruit is now over, a fair trade may be expected during the ensuing two months. Hops (duty, 3d per lb.)—Little or nothing has been '. done'in hops during'the month. The market is well supplied with botli Kent and colonial, but we hear of no sales. Malt (duty. Is Cd per bushel)—No English malt. Metals (duty, 10 per cent.)—Galvanized iron is slightly lower, as stocks in spite of the increased I amount of building going on are heavier than desir--1 able. Holders have been compelled to give way a trifle. AVe quote best brands of iron of 30-gauge at i £29 to £3l per ton for builders' lots : fencing wire is in better inquiry, and sales at £lO per ton for [ Xe-s. G, 7, and 8, are reported. Sheet lead, £2S ; and sheet zinc. £37 to £3S per ton. Both in fair demand. . oils (duty, 6d per gallon)—Kerosene is easier, and r quoted at 2s fld per gallon, duty paid. Stocks are moderate, but the Ocean Chief brings 3000 cases, and tiie Elsinore ISOO cases forthis market, which will serve to supply our wants in the meantime. Paint I oils are in fair supply at 4s to 4s 3d per gallon for i drums. Oilmen's Stores (duty, 10 per cent.)—Usual trade • doing, although limited to small parcels, i Kice (duty. Jd per lb.)—Full stocks, at £2O to £27 I per ton for clean dressed samples. Salt (free)—This article continues scarce, and is in active demand. The Benledi lias 70 tons, -which have 1 been quitted in one line. Holders are asking 130 s for i fine, and 110 s for coarse, per ton. : Spirits (duty. 12s per gallon)—Brandies remain at [ our last quotations, with the ordinary trade doing, in the absence of any speculative purchases. Hennessy's . bulk is quoted at 9s 3d to Os 0d per gallon, 32s Gd to ; 33s per case. Martell's rules a shade under these L rates, and is in active demand, Bisquit Dubouche, ; in quarters, is quoted at 8s Od per gallon. Other brands nominal. JRum, geneva, and whisky are un- ■ altered from last month's rates, with no transaction j of sufficient importance to require notice. ; Sugar (duty, Id per lb)—Dull trade, and limited to tiie wants of the grocers, who do not care to hold large ; stocks. Sydnev Sugar Refinery C'o.'s So. 2is worth £43 )0s to £49 ;" -I O, £47 10s ; C, £44 ; and Y, £4l 10s per ton, duty paid, at which figures tiie usual trade '. has been doing. Crushed leaf dull, at £53 to £55 per ton. , Tea (duty, Gd per lb.) —3loderato trade doing. [ Stocks ample. > Tobacco (duty, 2s Cd per lb). —The usual amount of f business done, prices remaining at last month's rates. Cigars (duty, 5s per lb). —Havannah cigars are ! quoted at £l3 to £2O per thousand ; Manillas, 50s to ! SOs ; Swiss, 35s to 37s Od, in bond. Wine (duty, 4s per gallon).—Trade has been dull in , wines, no sales to any extent having come under ; notice. Stocks of inferior ports and sherries continue heavy and difficult to move at any figure. i COLONIAL PRODUCE. Butter. —Keg butter has been in fair demand for local consumption during the month ; but the export trade has fallen through to so great an extent that much that has been cured will, as usual, spoil on the hands of the makers, who continue to hold back for high prices. AVe quote lOd to lid as current value for prime cure. Cheese.—Cheese has been overstocked, and sales of Port Cooper and other Southern makes have been made at 7d to Sd per lb. Hams and Bacon.—The same remark applies to bacon and hams, which have been forced off by auction at figures as low as Sid and 9d for Canterbury cure. Flour.—Flour during the past month has steadily advanced in value, and owing to the absence of any stock of Adelaide and the high price ruling down South, is now quoted at £lB per ton for sacks, with every prospect of it attaining a higher figure. Stocks in the hands of the importers and agents have been exceptionally low, and several bakers had entirely run out before the arrival of the recent shipments. The quality of the Southern flour this season is said not to be as good as usual, owing to the quantity of sprouted wheat in the market. Grain.—Oats remain at last month's rates, and show little Bigns of varying, the market being well supplied. Wc quote 3s 3d to 3s 4d per bushel for prime samples. Potatoes. —Potatoes are in moderate supply at 85s to 95s per ton. Timber.—Large stocks of sawn timber are on hand, with moderate inquiry. Pine boards and scantling | arc worth lis Od to 12s ; totara, 10s to 17s : kauri, 14s to 10s per 100 feet for large lotß.