COMMERCIAL.

Otago Witness, Issue 1819, 1 October 1886, Page 18

COMMERCIAL.

The revenue collected at the Dunedin Custom House during the past week on goods cleared for consumption amounted to £4183 2s 2d. The boer duty amounted to £128 12s 9d. Woolpacks have been in considerable demand in tbje Dunedin market during.thepast week, and prices consequently hardened, sales having been made to arrive at up to 2s 2d (d.p.). As the supply is likely to be short, we may expect to see higher prices. Hops have had considerable attention, and prices have hardened. We learn from Nelson of a large parcel having been placed at an advanced price for shipment to Sydney, where New Zealand hops are evidently in demand. Galvanised iron and fencing wire are slow of sale, without any change in values. DUNEDIN MARKETS. FARM AND DAIRY PBODTTCB. Messrs Mercer Bros, report paying for produce during the week ending 29th inst. :— Kegs, 7d per dozen 1 Hams, Td per lb Bacon (roll), 5d per lb I Salt butter, 7d per Iband I very plentiful Fresh butter, best brands, Is per lb Fresh butter, good ordinary (in lib and jib prints), 8d to9dperlb. WHOIBSAXE PBODUOB REPORTS. Mr J. Fleming, Princes street south, reports under date the 29th ins<j. :— Wheat :Be.Btmilling.4s4& Chaff (oaten), £4 10 to £5 to 4s 9d per bushel per ton Medium • milling, 4s to Bran, £5 per ton to 4s 3d per bushel Pollard, £5 10s per ton Fowls' wheat, 3s 9d to 4s Flour, £10 to £11 per Oats, milling, 2s 3d to 2s ton 5d per bushel Barley dust, £5 per ton Teed oats, Is lid to 2a Bacon (rolled), 6d per lb 2d per bushel Side bacon, 7d per lb Malt barley, 3s to 3s 6d (grain fed) per bushel Oatmeal, £11 10s per ton Feed, 2s 3d to 2s 7d per Cheese 6d per lb bushel Onions, 11s per cwt Pearl barley, £14 per ton Hams, 9d per lb Straw, £3 pci 1 ton Grass hay, £4 to £4 lo per ton Oaten Hay, £4 10s to £5 per ton Kidney potatoes, £3 10& to £4 per ton. Derwents, £2 108 to £3 per ton. Good salt butter, 4d to 6d per lb. Potatoes are offering freely. Messrs Anderson and Co., millers, report under date the 29th mat. :— Oatirfeal, £13 per ton Pearl barley, £14 per ton Pollard, £5 lOsper ton Fowls'wheat,4s3dperbus Bran, £5 per ton ' Barley dust, £5 per ton Milling wheat, 4s 3d to 4s Oats, 2s 4d to 2s 6d bus 6d per bushel "* Flour I—Sacks,1 — Sacks, £10 10s per ton ; hundreds, £10 15s ; fifties, £11. FISH. Mr Melville reports under date the 29th inst. :— Fish of all kinds are still very scarce, being as a rule away at the spawning grounds. The oyster seaeon ends with this month, but the bwracouta season will commence about the middle of October. • DUNEDIN PRODUCE MARKET. J. H. Kiigoub, grain and produce broker, reports under date September 29 aB follows: — * Wheat. — There is no change to note, supplies being small, but demand limited. Sydney is being supplied from California, which has stopped shipments from New Zealand. I quote prime milling at 4s 8d to 4a 9d ; medium, 4s 5d to 48 7d. Fowl feed is in short supply at 3s lOd to 4s 3d, according to sample. Oats. — The market is still without animation, our prices being still out of sympathy with quotations in the Sydney and Melbourne markets. Holders here are still firm in 'their demands for 2s 4d to 2s 5d for best milling, and 2s 3d for bright short feed of shipping quality. Local demand is well supplied with ordinary feed at 2s to 2s 2d. Barley. — There is some demand for malting at 3s Id to 3s 2d; milling, 2s 8d; while feed is scarce at 2s 6d to 2s 7d. Chaff. — The market is fairly well supplied with oaten sheaf at £5 for best, and £4 15s for medium quality; oaten straw chaff, £3 to £3 2s 6d. Potatoes are in over-supply at £3 for best Kakanuis, and £2 15s for Southern. Grass Seed. — Ryegrass sells at 4s 6d to 4s 9d for farmers' parcels (if clean and off old pasture), and 5s 6d to 5s 9d for machine dressed ; cocksfoot is rather slow at 4§d to 4fd per lb. Butter. — Salt sells locally in small lots at 8d ; freßh, 9d, with a plentiful supply. Eggs, 7|d to 8d per dozen ; supplies full. Turnips, 21s per ton. Carrots, 455. ' THE SYDNEY MARKETS. Messrs Harrison, Jones, and Devlin report under date Sydney, September 20 : — Since writing on 13th inst. large supplies of Californian wheat have arrived on our market, but at present prices of New Zealand lines remain unaltered — viz., 4s 4d to 4s Gd for best, and 4s to 4s 2d for medium. Oats continue in steady demand at 2s 6d to 2s 7d for prime heavy feed, and 2s to 2s 4d for dark and inferior. Maize is brisk, and best samples are moving a t3ssdto3s6d. b Oatmeal. — Dull of sale at £15 10s to £17 10s. Potatoes. — Moderate inquiry only. Circular Heads, £4 10s; Ballarats,£3 15s; New Zealand. £6 sb.

NEW ZEALAND MUTTON AT SMITHFIELD. The comparative prices of the various kinds of mutton offered in Smithfield shows that New Zealand is most in favour of all frozen mutton, but there is still a wide difference between it and Scotch, and almost as great difference between it and German and Dutch sheep, which bring prices on an average equal to English. The prices when the last mail left were, per stone : — 8d s d New Zealand sheep ... ... 2 10 to 3 2 Melbour c sheep ... ... 3 8 „ 2 10 Falkland sheep ... ... ... 2 6 „ 3 0 River Plate Bheep ... ... 2 8 „ 2 10 Scotch sheep ... ... ... 5 4 „ 5 8 English sheep ... ... ... 3 8 „ 5 4 German and Dutch 6heep ... ... 4 3 „ 5 0 THE RISE IN WOOL.'} The detailed prices of a station clip of greasy merino wool, which appeared in our leading columns last week have been kindly averaged for us by the agents with the following result : — d. d. 1879 ... H 1883 ... 11* 1880 ... 15i 1884 ... 10 £ 1881 ... 11 1885 ... 9 1882 ... 11? 1886 ... 9 Had this wool been sold in April it would hare brought 7£d, in July it brought 9d, and if kept to September would have brought lOfd. THE LONDON WOOL MARKET. (Reutbe's Telegrams.) London, September 25. The tone of the wool sales is quieter. The catalogue of to-day 'v sale comprised 12,000 bales'. London, September 26. In the wool market good qualities have maintained the highest prices. Crossbreds are hardening ; but faulty wools are slightly lower. Two hundred and fourteen thousand bales were catalogued, and 1900 bales have been withdrawn. London, September 28. At yesterday's and to-day's wool auctions 20,000 bales were offered. The market was weak, and prices have a downward tendency. Melbourne, September 29. Messrs Goldsborough and Co. have received the following report of the London wool market under date September 28 :— " The market is weaker for all descriptions except crossbreds, which are Id higher than at the opening of the present series. Scoured generally has fallen Id, and good scoured from Id to ljd. Inferior greasy merino is £d lower and good greasy merino Id lower than at the opening of the present series. # Messrs Dalgety and Company have received the following cablegram from their head office, dated London, September 28 : — Since our last report of 18th inst. there is no change for the bulk of wools, but the lower classes of scoured merinos show a decline of §d to f d per lb, while coarse and medium crossbreds show a rise of Mto 3d per lb. The fourth series will close on 2nd October. Date of the opening of the first series has not been fixed yet, but will probably be either the 18th or 25th January. The New Zealand Loan and Mercantile Agency Company (Limited) report having received the following cablegram from their London house, dated the 24th inst. : — " Crossbred and crossbred lambs— market firmer. Faulty scoured, medium and inferior clothing (washed), and short staple merino, heavy in grease— market easier. Competition on French account is fairly active. Up to date 191,000 bales have been sold." The New Zealand Loan and Mercantile Agency Company (Limited) yesterday received the following cablegram from London, dated 24th inst. : — Tallow : Market dull. Good mntton is worth 25s per owt ; good beef, 22s per cwt. JAPAN AND THE WOOL TRADE. At a meeting of the Council of the Woolgrowers' Association in Australia (says the Melbourne Argus) the secretary read the following letter: — Yokohama, July 27, 1886. Dear Sir,— Since addressing you on the 12th ult., I have had repeated consultations with regard to the establishment of woollen factories in this country, and I now enclose for your information and opinion, copy of a tentative proposal for the formation of a mixed company, placed by me before two of my most influential Japanese friends, and which met with their approval — Mr Minomura and Mr Imai are chiefs, one of the {Bank of Japan (Government institution), the other of the Mitsui Bank, the oldest financial institution in Japan. Through the above gentlemen, I have ascertained that the working of the Senji mills is, even under the existing circumstances, sufficiently prosperous to render the Government unwilling to part with them. On the other hand, the machinery at Senji is antiquated, and there is no doubt that our proposed venture, if adopted, should be carried out with the latest machinery. There would be no friction with the Senji mills if new mills were started, as Senji is altogether incapable of supplying the Government's requirements, to say nothing of the general demand. We are promised the support of the Government in army and navy supplies, and are satisfied that the Government would view with marked favour the establishment of a company on the basis proposed, by a mixed directorate aud mixed capital, a« it is the Government policy to attract capital in this way. It seems advisable that the first factory should be started at Osaka, the southern capital, as there the field is open, and we could arrange for supplies to the southern portion of the troops and marines, &o. The second factory (provided the first proves sufficiently successful) should be established at Nagasaki, where fuel is cheap, and where cheap Chinese cotton, Ac, is procurable for mixing purposes, and from where the Corean markets could be dealt with. After Nagasaki we should take steps to found our Toldo factory, and we are of opinion that then the Senji mills would either come to terms with us or retire in our favour, as they could not compete with our modern machinery and foreign business management. If you decide to take up this business there is no time to be lost. Through the Japanese gsntlemen named the portion of Japanese capital required is assured, and they will secure for the undertaking two Japanese directors of the very highest standing if their own business arrangements will not permit of their personally serving. If it is desired I shall be quite willing to take a moderate interest in the company, as with the improved conditions the revised tariff will create I looik for very considerable success. The first steps on your part should be to send out here a c mpefcent man, as indicated by me, to act with me in the formaMon of the company, and to serve as foreign superintendent of factories, and also as director of the company, if this latter position would, in your opinion, safeguard your interests. I estimate the cost of the first factory with a fair initial capacity at say — Land and buildings complete ... 30,000d01. Machinery complete, to be imported 40,000 Working capital, say ... ... 30,000 £15,833 6s 8d equals, at 3s 2d per dollar ... ... ... 100,000dol. Cost of construction is cheap here. Timber is J plentiful. Bricks cost from 50dol per 10,000 up to ! 80dol per 10,000 for the best first-class bricks. The wages of bricklayers, masons, carrenters is about 50c Der day (or 2s) of 10 hours' working, and we have reliable native and foreign contractors. In Yokohama and elsewhere there are first-class foreign engineers and foundries, and in Osaka, Nagasaki, and Tokio many excellent Japanese factories under skilled manigement, where many parts of the machinery might be duplicated, and so ensure a future saving in cost, and all woodwork connected with the machinery might be made here. The foreign superintendent you send (I could get one here) should be a thoroughly practical man in the above matters. It would only be neceasary for tha first factory to get oub from Europe two or three eccperienceSl foremen, as the Japaaese pick up w'ark

of this kind with amazing rapidity and skill, and we could doubtless obtain some assistance from the Senji mills in skilled labour, if necessary. At the Senji mills there is onlyone foreiguerat present employed, and the wages paid to operatives range from 10 cents to 50 cents per diem - say 4d to Is 7d. I enclose a few samples of the cloth manufactured at the Senji mills, which will give you an. idea of the class of wool* used thore. (.The samples were then handed round to the members of the council present, and out of some 20 to 30 exhibits there was not one which would uot compare in pattern and quality with English cloths, and were superior in many respects to the colonial tweeds.] At even slightly higher prices than bebfcer-quality imported goods, the Japanese iavour the home-made article. We should find our best first field in good flannels and tweeds, army and navy cloth, and blankets of all grades. Please let me know at an early date your opinion on the suggestions made by me, together with your views as to any alterations advisable. You will observe that the interests of the Japanese directors and their friends will be bound up warmly in the enterprise. The capital should be called up as the different factories aro started. We have almost daily communication by steamer with Osaka. With the competing lines of steamers running between Hongkong ana the colonies, the freight on wool to Japan should be low. The revised duties will virtually throw the whole of Japan open, and this may bd thesignal for considerable manufacturingdevelopments, &c— l am, dear sir, yours faithfully, G WATSON Several applications for shares in the company were handed in, and it was definitely deoided thafethe secretary should make an active canvass of the city. It was intimated that the amount required to be raised for the venture would not amount at first to more than £15,000.