Commercial Intelligence

Southland Times, Issue 757, 2 December 1867, Page 2

Commercial Intelligence

Tikbi Oitiiob, Saturday Evening. Mb W. Todd, Auctioneer, reporti hit sale of imported hones, held on Saturday, at the Noah't Ark stabler, at having been numeroutly attended, but bonafidt buyers not to plentiful at at late tales. Mr Gidney't shipment, consisting of 20 horses, -were all sold — good hacks at from £19 to £30 ; light harness and draught animals brought from £30 to £44. Mr Burrow's lot was also offered, but only three found buyers at £35 £45 and £65, respectively ; the others were withdrawn bidding not coming up to expectations. These latter were a very superior lot, mostly heavy draught mares of a rare sort ; but the market seems at present fully supplied. Two entires, a Clydesdale, and a thoroughbred with some of Fisherman's blood in him, were , also offered, but did not reach prices for which the owner was disposed to part with them, and they also were consequently passed. ■ The demand for cattle still keeps good, cow 3in milk being eagerly inquired after, consequently large prices are anticipated at the usual monthly sale, which takes place at Wallacetown on the 10th inst. In general merchandise there has been but little doing. The extremely unseasonable weather lately prevalent has kept the roads almost impassiblfl, to that little or no country trade has been done. A shipment of new season's teas and sugars sold ten days ago brought fair prices, but did not elicit anything like activity amongst buyers. There is no improvement to note in town properties, while suburban sections, when forced to a sale, realise only nominal prices.

The week has opened with a steady businesi doing for general town requirement and country and coastwise orders, Partly owing to the Panama mails being just to hand, transactions with importers have not been noticeably heayy, and nothing affecting prices or prospects of any particular staples has taken place. Holders of brandies are asking full rates ; and the values of teas are well sustained. Sugars keep tolerably firm ; and breadstuff's are at maintained quotations without, however, anything of moment transpiring. Our advices from Canterbury are to the 25th ult. The Frets reports ; — Business matters are still in a quiescent state, the whole trade being confined to purchases to assort stocks, and no inclination is exhibited by buyers to -peculate in goods, even when offered at exceptionally low rates. The sales of the past week have been confined principally to teas and sugars. Provisions in general do not command much attention, with the exception of colonial butter, which has been dealt in largely at lOd, for shipment to Westland. Bacon and hams, English and Colonial, are difficult to place except at low values. English bulk beers move off slowly Bass's pale being quoted at £10 to £10 15s ; Colonial YYY, quoted at £8, is gradually superseding the imported article. Woolpacks change hands at rates which can hardly pay the importer. The same remark applies to cornsacki. The tenor of the grain market is more hopeful for the farmer, prices having an upward tendency. At present 4s is offored for good milling wheat, and the probabilities are that will be the average ruling throughout the season. The late advices from England Btate the stocks of wheat and flour held are far below the usual average, which, coupled with a shortharvest, will maintain prices at 7s to 7s 6d certain. Oats are not in request, except for small lots ; prices remain at 2s per bushel. Q-ood malting barley is scarce and in request, all the large growers having quitted ; it is however expected that a portion of the new crop will be in the market by Christmas, the majority of the early-sown crops in the Northern district being already in ear. Old stocks of potatoes are now worked off, and are not quoted except at retail rates. Hay is firmer, the new crop looking very deficient in bulk ; a good after»atk may lie expected, ihs rain having come too late to benefit the first crop. The " Oamaru Times " of 22nd ult. states :— Business continues to exliibit improved activity, though transactions of only a limited nature are reported. Wheat is wanted to make up a shipment for England, and a first-class clean sample, in good condition for exportation would command as much as 4s 3d. There) however, appears to be very little, if any, on offer. Oats are still duJQ

I By the arrival of tho Airedale, we »ro in receipt of late northern files. The following items of commercial interest are extracted. The Otago Daily Times of the 25th ult. states that business has been moderately good during the greater part of the week, though suffering from extremely unfavorable weather. Transactions have been mostly for current requirements, and in few instances individually large, and neither as to extent or alteration in rates turnish much occasion for notice. Breadstuffs are steady at last quotations ; but though no doubt now exists that stocks are less in extent than hitherto supposed, no speculative enquiry either for flour or grain has been manifested. A few sales made of sugars, chiefly yellow and white crystals, show prices to be firm at a shade over last auction rates. The trade supplied themselves with new season congous, at the sale of the Rubicon's cargo on 22nd ; prices current previous to the sale were fully maintained, the low class teas bringing proportionately the best prices. No operations of any moment have taken place in provisions. Good parcels of new-cure hams and bacon are held firmly, but second-rate parcels are pushed at low rates. A .moderate business has been , doing in spirits — Hennessy's and Martell s I brandies continue to realize 6s 9d and 28s. j Hemp goods were dealt in early in the week, but I have again become dull. Malt liquors command 'no attention; ales in bulk and bottle, and stouts, selling in but small-sized parcels at scarcely maintained values. The West Coast Timts of the 13th ult., reports : — Business during the week has maintained the activity we noted in our last report, a large quantity of general staples having come to hand. Owing to the vastly improved state of the entrance, all the cargoes in the roadstead have been received, and fine weather prevailing they have been discharged prompt. The market has now assumed a more settled tone : cereals and Colonial produce have been freely offered under the hammer at ship-side, but without realising improvement on previous rates, tho aspect of the produce market cannot be considered satisfactory to shippers ; there is, however a prospect that shipments during the next fortnight will be light, and prices consequently improve. The cargo of Adelaide flour, ex Sarah and Mary, realised at auction, £17, which, compared with value ruling in Victoria, i 3 low; we cannot quote over £17 10s as present value. Tasmanian has been sold for £14. Bran, Is 3d to Is 4d. Chaff is in overstock, £10 to £12 being the price realised at auction. Oats continue in good supply at 3s to 3s 6d. Potatoes plentiful at £4 15s to £5 10s. Provisions remain unaltered, excepting butter; this item has not maintained recent rates, bringing from Is 2d to Is 3d, a prime parcel of Canterbury realising an average of Is Id; inferior is totally unsaleable. There is a slight improvement in brandies, consequent on late Australian advices, the advance quoted has not yet been realised here. Geneva is slightly better, in other spirits and wines there is no alteration ; country business has been active, and the Coast goldfields have afforded more em ployment to wholesale houses. Spring trade having fairly set in, the amount collected at customs for import duties for the week amounted to £2560 19s 4d. The Grey Bivsr Argus of the 16th ult. reports : — The business of the past week has been marked by the quietness that we have had to report for some time past. The heavy fresh in the river having materially interfered with the transit of goods inland by the boats and coastwise, there has been little doing. On the return of more settled weather we may reasonably look forward to more activity in trade generally. The prices of nearly all leadens* articlqp are yitasufc tfis»ge. The cargoes of the Sea Mower and Florence wer« sold at auction yesterday by Messrs D. Maclean and Co., when the following rates were realised: — Potatoes, £7 15s to £8 2s 6d ; oats, 3s 2d to 3s 5d ; bran, Is 4d j butter Is 2d ; and Canterbury, lOd. The "Lyttelton Times" of November 23 reports : — The business operations of the past week have been upon a very limited scale, and confined entirely to goods for immediate consumption. Although retailers' stocks are very moderate, no disposition is shown to increase them, but the greatest caution is used in making purchases. This state of affairs, while it greatly limits the amount of business done for the present time, places the transactions actually completed upon a much safer footing than before. ■ There is a much better and sounder feeling as regards credit, and failures have now greatly decreased. The recently published tariff of rates, for the conveyance of merchandise by the Lyttelton and Christchurch Railway, has met with some criticism in commercial circles. It is felt that in the incomplete state of the works at Lyttelton end, the rates proposed to be charged at the present time are tolerably moderate ; but it must be quite evident to every experienced man of business, that if this province is to be materially benefited by this great undertaking, if the coasting trade is to be prosecuted and goods are to be exported, when the harbor works are finished, these rates must be considerably reduced, as but very few goods will bear so heavy a charge, in and out, as 19s per ton for measurement, and 24s per ton for dead weight. Amongst the few articles that have been in demand, teas have moved off pretty freely, but the trade have now pretty well stocked themselves with recent arrivals. Sugars are low in stock, and the next month Bhould produce an active inquiry. In beer, either in bulk or bottle, but little has been done. Tobaccos have been in fair inquiry. Good negrohead twist is scarce, and sound tens have found purchasers. Cornsacks and woolpacks are selling at ruinous prices. In wines and spirits but little has been doing. The rates of freight upon wool and other produce •re not yet fixed, but they are expected to be higher than last year. The market for fat sheep is stationary on this side the range, in consequence of the uncertainty which still prevails in the minds of both buyers and sellers as to the ruling prices after shearing. We learn that a considerable number of shepe have been placed in the hands of the Dunedin agents, with .delivery after shearing; but we are not aware of any sales having been effected, although the limits given are such as might be expected to induce buyers in the Otago Province to come ±o terms. Prices in the grain market had a downward tendency. On Saturday, wheat and barley upheld our former quotations of 3s 6d per bushel the former, and 3s 3d the latter. Last week's prices for oats could not be maintained, and good feed changed hands at 2s per bushel. Hour still commands a sale at former quotations of £12 to £14 per ton — superfine Canterbury. Bran and sharps, however, have had to succumb, and we now quot3 £3 per ton for the former, £4 the latter. Hay realised about £5 per ton.

The following are the Customs Returns for — Friday, November 22. Brandy, 58 galls ... £34 16 0 Wine, 52ga118 10 8 0 £45 4 0 Saturday, November 23. Sundries - ... £7 13 2 Monday, November 25. - Sugar, 28421bs £11 16 10 Tea, 8080lbs 39 10 0 Tobacco, 961bs 12 0 0 Wine, 50 galls 10 0 0 Brandy, 27 galls ... 16 4 0 Whisky, 84 galls ... 20 8 0 Woolpacks 12 7 3 Sundries ... ... 2 3 0 £124 9 1 Tueoday, November 26. Geneva, 29 galls ... £17 1 3 Candles, 1250 lba 5 4 2 Sundries 0 17 £22 7 0 Wednesday, November 27. Sugar, 31,6171fc» ... £131 14 9 Drapery 34 19 2 | Whisky, 37 galls ... 22 4 0 Geneva, 88 galls ... 52 13 9 Brandy, 56 galls ... S3 12 0 Wine, 89 gall* ... 6 16 0 Firearms 0 15 0 Eum, 33 galls 19 16 0 Sundries 7 18 8 Cigars, 32lbs 15 10 8 Jewellery 6 15 9 Leather 3 12 2 £335 7 11 | Thursday, November 28. ! Beer, 76 galls £4 15 0 Geneva, 29 galls 17 8 9 Brandy, 74 galls ... 44 12 6 Wine,*Bl galls 16 4 0 Drapery 22 11 4 Tobacco, 2841bs 35 10 0 Sundries 10 15 3 £151 16 10 Friday, November 29. Tobacco, 3101bs ... ... £38 15 0 lea, 2321bs 6 6 0 Wine, 9 galls 1 16 0 £46 17 0 Saturday, November 30. Geneva, 85 galls ... £51 11 S Brandy, 28 gaUs ... 16 16 0 Whisky, 33 galls ... 19 16 0 Beer, 154 galls 9 12 6 Tea, 15451bs 38 12 6 £136 8 3