COMMERCIAL.

New Zealand Times, Volume XXXIII, Issue 5508, 21 November 1878, Page 2

COMMERCIAL.

¥ho following »ra tho duties ■collected at tho Cos-

BY TELEGRAPH. AUCKLAND, Wednesday. Mr. Alexander Saunders reports :~SeUers: Bank of Now Zealand, £23 7s Od; Colonial, 535 ; National, 78s; New Zealand Insurance, 85s ; South British Insurance, 67s ; Colonial Insurance, 5s Cd; National, 27s Cd; Union, 15s Od; Guthrie and Larnacb, 98s , Sash and Door, £lO ss; Alburnla, 255; Kurunui Hill, 8s 6d; Beauty. ss. The New Zealand Loan and Mercantile Agency’s Circular of October 10 says Advices from New Zealand point to a want of animation In business and absence of demand for general articles of consumption imported from abroad. The Homo Industries exhibit no Improvement on previous recent advices. Manufacturers and merchants hesitate to Increase their operations and liabilities so long as disquieting rumors continue in reference to the Treaty of Berlin, General credit has received a shock by the announcement of tho failure of the City of Glasgow Bank. The imports for the month show a decrease of 3} per cent compared with tho corresponding month of 1877; exports, a decrease of a little over 3 per cent. There is a downward movement in hardware, yarns, piece goods. Short loans on foreign Government securities rule generally from to 5 per cent., but higher rates have been charged, tho position and standing of the borrower being chiefly taken Into account. Long-dated bills, say with six months to run, have been taken at comparatively low rates, the nearest current quotations being to 4J -per cent. Colonial Government securities have on the whole been steady, and prices have been fairly maintained. A partial recovery in this description of stock has doubtless been effected by the postponmont of tho issue in this market of important loans to which t'j. ferenco was made in our last San Francisco circular. In the present state of tho money market such a step cannot bo regarded otherwise than as best servin g the interests of the colonies generally. Salted hid e sales at above previous rates. Preserved meats ; Boiled mutton, 2ib tins, 5d to 6Jd per lb; 01b tins, bd to sld*5 l d* boiled beef, 6jd to Old per lb, Tho corn market exhibited a tendency to lower tho scale of prices, English wheats have perhaps been the least affected, but Australian and New Zealand especially tho latter, felt the change seriously. Wo can now quote New Zealand as worth '<nly 2s per quarter hm than on tho 12th ultitr.o. Wheats—That growth which was then selling at 47s can now scarcely command 45», and oven at that price only small lots can bo dealt with. To soli any considerable quantity still further reduction would have to bo submitted to* and Judging from tho recent heavy importations, ami stocks which are rapidly accumulating in importers’ hands, it does not seem unlikely that sellers may presently meet buyers' views in this respect. Largo supplies aro known to bo on tho way from the United States, and tho market thero is very weak. Current quotations aro asunder: New Zealand wheat, new, 41s to 45a; Now Zealand flour, 20s to 30s. Arrivals to report from New Zealand aro as follows Wellington, from Port Chalmers, 0053 bags wheat; Margaret Galbraith, from Port Chalmers, 08-iT bags wheat; Waikato, from Lyttelton, .3805 bags flour. * Wool.—Available arrivals from Now Zealand, 80.200 bales r. quantities catalogued, 85,500. Total available arrivals, 312,050 bales; catalogued, bales. Tha market during tho series recently concluded was quite exceptional at Its opening, with a good attendance of Horae and foreign buyers. An active demand was displayed by the former for those

wools required for the satisfaction of their immediate wants. This position was maintained with but little variation during the first fortnight’s sales, but throughout that period purchases were chiefly made by Homo operators, while transactions to a moderate extent were entered into by German, Belgian, and French dealersand manufacturers. This was a marked feature which gradually caused a flatter tone in the sales, accompanied in many instances by a sensible decline in values. Indisposition on the part of buyers to continue their operation at this level naturally led to extensive withdrawals from day to day, the result being that the termination of the series as originally arranged for the 10th inst. required alteration, Those who had satisfied their immediate wants ceased to be eager purchasers, while those who were holding back In hope of operating on more favorable terms continued to exercise a restrictive policy under the belief that ample opportunity before conclusion of series would bo offered thorn. Good combing New Zealand proceeds, free from fault, sold at minimum reduction; lower grades difficult to place at minimum prices* Colonial Government securities : Now Zealand, 1891, 111 to 113:1914,102 to 104. Consolidated 10 per cent, per annum sinking fund, 100: 6-30, 1870 to 1904. 92 to 04: 6-30, 1881 to 1006, 90 to 100 : Napier harbor loan. 102 to 104 ; Otago harbor loan, 103 to 105; City of Christchurch 0 per cent, drainage loan, 106 to 103; City of Dunedin C per cent, debentures, 107 to 109; City of Wellington 0 per cent, consolidated loan, 107 to 109 ; New Zealand Trust and X.oan, 4£ to 6 per cent, premium; Otago and Southland Investment, § to f premium.

toms yesterday n d. Spirits «. wine «. 192 7 13 12 10 Tobacco m 1U o 1 Cigars .. m 1) G Tea 0 10 o Sugar .. 5 0 0

£ s. d. I Ale (bottled) .. 4 3 9 j Ad valorem .. 14 10 7 1 Other duties . .. 17 2 0 | Total .. £782 S 6