COMMERCIAL.

Poverty Bay Standard, Volume III, Issue 262, 7 April 1875, Page 2

COMMERCIAL.

TRADE REPORT FOR MARCH. Standard 4 Peoples’ Advocate Office, Gisborne, April 2, 1875. Operations during the past month have been varied, and, on the whole, satisfactory, although there is a general complaint of scarcity of coin. The large number of Natives still in town consequent on the continued sitting of the Lands Court tends to a rather free distribution of what little money they may be possessed of—the storekeepers and publicans reaping the harvest, such as it is. One of the most favorable indications of steady advancement in material prosperity is a noticeable increase in the Customs duties—the following of which are : For the month ending 31st /

These figures shew that no diminution has taken place from the preceding month of February, while the quarter just ended shews an increase of £614 17s lid over and above the corresponding quarter of last year, and this, too, it must be remembered, in the face of the fact that a very large proportion of duty paid goods form the staple of shipments to Poverty Bay. The attention of shippers has been drawn to this question so often in these and our other columns, that, perhaps, it is unnecessary to do more than allude to it now ; but it is, nevertheless, a question which has its serious aspect, involving as it does an imputation on the bond Jides of the trade that is done. The continual shipping of dutiable goods free of Bond from our two principal feeding centres —Auckland and Napier—detracts largely from the commercial importance of this port, while it helps to unduly inflate that of the other two. There are many other ways in which the present system adopted by our business men acts injuriously to the best interests alike of themselves, the port, and district, which it may be out of place to comment on in a Trade Report, but it is to be hoped that no more time will be lost in turning the tide of Customs Duties into its proper channel, than cannot be avoided. GENERAL. The market is reported to be fairly supplied with most articles of current demand, a steady balance being maintained, while there are no particular lines that require special quotation, if we except kerosine, which has fallen somewhat suddenly on account of increased stocks, and which is, possibly, only a temporary deviation from higher figures. We notice a prominent Auckland firm is endeavoring to “ localise ” the trade in flour, which, for the best brands, is calculated to stir up a little activity amongst our middle men here.

TIMBER, BUILDING, &C. Boniness in these lines continues brisk, although we hnve nothing new to report since our last, save the commencement of the Union Bank of Australia premises and the finishing

of Mr. Nasmith’s two new shops and dwelling houses attached, which, when out of hand, will be an ornament to the town, and probably the means of other buildings being erected along the line of frontage to the corner of the Quay. Imports for the month have been : —9oooft Kauri, 40 pairs Sashes, 72 Doors, 4000 ft Mouldings. Exports : —Coastwise, 20,000 ft. Kauri and White Pine, 20,000 Shingles. In connection with this branch of trade we notice the establishing of a branch agency in Gisborne by Mr. King of the Makauri Saw Mill, under the direction of Mr. Hurrv—a new wharf having been run into the river above Read’s point to facilitate the water carriage, which will be taken advantage of during the winter months, the road between the Mill and the Taruheru being now open. The following are current quotations—Kauri, 14s to 18s ; White Pine, Ils ; Shingles—kauri—2os; W.P., 14s; Blocks, 7d per lineal foot. AUCTION SALES Have not been active either in number or value. Mr. W. S. Greene has had a few gatherings for general merchandize at the Mart, but without special notice. Mr. Maynard has also effected one or two small sales in the country, at which operations were extremely limited. LABOR. A great demand still exists for good carpenters, at. least a dozen such would find constant employment with satisfactory wages; but with the present building power of the colony it is not improbable that they will find their way hither but slowly from other equally remunerative fields of employment. There is an increased demand also for artisans of all descriptions, and the requirements for good domestic servants are still in excess of supply —in fact the article is not to be had at any price, or if met with cannot be kept. The prices for labor remain firm with, if anything, an upward tendency. STOCK. Beyond butchers’ requirements there is nothing to be quoted under this head, outside the sheep market. There have been several additions to our ram and ewe stock, numbering 116 head, imported by our enterprising sheepfarmers, and also a flock of 500 mixed sheep for the Waikohu station. One shipment only has been made hence to the Auckland market consisting of 500 ewes and 21 horses. Several correspondents have drawn our attention to the existence, and rapid spread of Bathurst burr in the district, samples of which may be found within the town boundaries. There seems to be an opinion prevailing that this pest should be attended to at once, as it is likely to cause flockowners much trouble both as regards carcass and wool, but with what object—its eradication or otherwise—we have nut gathered. LOCAL INDUSTRIES Are, we are glad to see, taking root and extending their branches. A noticeable item is the complete shutting out of the large quantities of bricks which hitherto have found a good market here from Auckland. Messrs. Brunt and Veale, G. E. Read, and Hepburn’s yards have been in full swing for some time, some thousands being turned out. weekly, and it is said of a description which gives eminent satisfaction, while the price is reduced to the more moderate quotation of 105 s. Another JE rated Water Factory is on the point of starting in Gisborne, which from the samples of lemonade we have tasted, is likely to stand its own ground. Whether the trade is large enough to support two estabishments remains to be seeu. Several new investments have been made, by both new blood and fresh money. Mr. Breingan has changed the Whata Upoko property for that of Mr. Bell’s at Kaiteratahi, at a figure which leaves a good margin for profit. Mr. Gibbons has become lessee of the former for seven years, at a fair rental, and Mr. Brodie is to occupy the hotel forming part of the latter. The Royal Hotel is now in the market on terms that should not long beg in vain for acceptance. In maritime affairs we are glad to notice great, signs of improvement, and healthy competition. Both the A.S.P. and N.Z s.s. Companies have increased their attention towards this port; the Rangatira resuming her weekly trips, and the Southern Cross calling on her downward course, besides the punctual visits of the Go-a-head. Tenders, we regret to learn, for the W >a bridge, have not been accepted by the G 1ment. A work of this kind would set 1 Jt' 3 money moving, but we fear it. will bf e.ay< 1 till an unfavorable time of the year. OIL AND SHARES. Increased activity in the Petroleum Company’s ground has resulted from the Manager’s visit to Auckland where he obtained a supply of testing rods. A trial from the surface close by the original shaft has met with no obstruction to about. 150 feet, and Mr. Parsons is still sanguine of ultimate success. Nibbling enquires have been made for shares with few transactions calling for special notice. On the whole business may be said to be in a healty condition, saving, perhaps, the item of credit, the privileges of which are unnecessarily, not to say imprudently, trenched upon. Too much credit locks up t.OO much capital, or its use, which is the same thing.

March ... £635 16 5 For the quarter ending 31st March— Spirit? 1675-13/32 gals £1005 6 1 HZ. distilled 228-1/10 " 68 8 8 Cigars 89-9/16 lbs 22 7 10 Tobacco 1500 lbs 187 10 0 Sheep W&.-I1 do 520 lbs. 6 10 0 Wine 359-9/10 gals ... 71 19 7 Ale in bottle 414 gals 25 17 6 Tea 3071 lbs 76 15 6 Sugar 27181 lbs ... 113 0 11 A <1 valorem 59 7 0 Other Duties 21 16 0 Total 1658 19 1 Bunded Warehouse Duty 75 0 0 Fees under M B. Act ... 1 0 0 “ “ Arms Act 15 0 0 u ** Distillation “ 6 0 0 £1755 19 1 Corresponding Quarter, 1874 1141 1 2 Increase £614 17 11

BANK BATES. Discount. Bills under 95 days 8 Bills over 95 days 9 per cent. Overdrafts 9 « « Interest on Deposits. 30 days 5 p er cent, 3 mouths 51 6 “ 6 12 “ 6 .. u Exchange on London. da vs. dis. prem. 90 U i 60 f I 30 | U At sight or 3 days par 2 a “ on Ireland and Scotland 24