COMMERCIAL.

Poverty Bay Standard, Volume III, Issue 270, 8 May 1875, Page 2

COMMERCIAL.

Standard Office, Gisborne, May 1875. Business during the past month has been brisk, especially in the heavier articles, such ns flour, sugar, and other stores, of which the inland settlers taking warning from their last year’s experience, are laying in their winter supply. Flour: although prices are quoted low. stocks are limited in Otago and Canterbury and it is difficult to get orders executed. Oats : A considerable quantity have been grown in the district, sufficient probably to supply all requirements for the next 12 months, without importing. Quotations in Bow hem provinces though low, are firm with an upward tendency Maize : Stocks ot old maize are pretty well exhausted, and it will be some weeks yet before the new crop is fit for bagging. * A large quantity of this eareal has been grown in the district and the quality as a rule is good. Potatoes and other vegetables are in good supply, the former at from 90s to 120 s a ton. Wines and Spirits: Prices remain unchanged with good stocks in hand. 1 he same may be said of groceries and Oilmen’s Stores. Building Materials &c., : We are glad to observe that to counterbalance the imports, a considerable export of sawn timber from Mr. King’s tSaw Mill, and bricks from the various local manufactures is taking place. Imports of building material during the month :— 26.0‘K) feet kauri, 14,000 kauri shingles, 60 pairs sashes, 24 doors, 7000 feet- mouldings Exports Coastwise: 14,000 feet, white pine, 10,000 shingles. Prices of labour and material remain the same as in last quotation ; good hands are in demand. The Club Room and other alterations in the Albion Hotel are all hut completed. Mr. Nasmith s two shops will form a pleasing addition of our street architecture. The Union Bmk is rapidly progressing towards completion. Tibbds Hole! at the Murewai ia being re-erected ; and a villa resi lewe for Mr James Buchanan at Ma uwhero is also in hand. Stock and Station : The late rain has been a great boon to ilockowners, and must have obviated the necessity to many of tin m selling at a sacrifice. Staggers have been very prevalent, and the loss on several runs, esjieci.dly on those bearing stock, has been considerable, shewing the neerss ty of sin ep farmers haring a change of pasture for their flocks. W e hear th d. one or t wo lar<»e tions are likely to change hands shortly. A large

nmcunt of land having passed through the Land* Court, at the last sitting should open up ih«* country for settlement, and also give «t'v ral squatters a marketable lease, which they had not before. Had the court sat welve months ago, when there was a keener demand for run* a large amount of Soul hern capital might have been introduced. It is also to be regretted that the natives throw so many obstructions in the way of Europeans leasing their lands, making the expenses of getting a lease more than it. is worth. A sale of 2000 sheep, Johnson Bros, and Westrup, to R. D. McDougall, is the sole transaction requiring note. Money may safely be said to be tight, with an inclination ■ on the part of the Banks to reduce over drafts. The cause of tightness is mainly attributable to the fact that the settlers in town and country are spending all their available cash in building and fencing improvements, &c. Trade is brisk and transac* tions for the most part are sound. The completion of the Telegraph line to Gisborne will, doubtless, have a salutary effect upon all branches of trade. from the additional facilities that will be afforded to inter.communicate more expeditiously that has hitherto been the case by course of post. Auction Sales are again becoming active, since the number of Knights of the Hummer have increased. Messrs Hardy & Ferris have opened well, in one or two successful sales, and have others approaching. Bryant & Co. held their maiden sale on Saturday last at their mart, Gladstone Road, there was a good attendance and bidding spirited. At the Bank of New Zealand half-yearly meeting the report showed a net profit of £48,058; balance from last year £13,015. A dividend was declared of L 0 per cent, with bonus of 50; balance carried forward, £16,975. The report was adopted. The chairman in moving its adoption, referred in condemnation to the system which has been introduced of paying large interest on deposits, which he said was calculated to direct money from legitimate channels, and would be injurious to the colony, and a pinch would come which I e desired merchants to bear in mind was not brought about by tbe bank. Napieb, May 6. Mr. M. R. Miller reports fat cattle at 22s 6d to 25s per lOOlbs ; stores, £4 to £4 5s each. Wedders—Fat Merinos, 10s to Ils 6d ; crossbreds, 14s 6d to 15s 6d ; store merinos, nominal ; crossbreds, Ils to 12s 6d, few offering ; ewes, mixed ages, culls 5s 3d, 8-tooth culls 3s to 3s 6(1 ; crossbreds, 6 and 8 tooth, 13s and 11 s respectively; crossbred lambs, 7s 6d to 8s 6d.