COMMERCIAL.

Lyttelton Times, Volume XXVII, Issue 1969, 11 April 1867, Page 2

COMMERCIAL.

' Lytielm Times Office, ~j£ j" Wednesday Evening. '■'■ The Custote. revenue .collected: at Chriatchurch to-day amounted.to £9sl2s:3d. ; JThe; following were, the 'items■.:— Wine, £9l .4b.-; = spirits, £57 Os 9d; goods, per measureinent, £l4 lis id; :goo:dß;per.weiglit,>£2l6B,'; . The. Customs,revenue cbllected.at. the port of Lytteitpn to-day amounted to £45.6s 7d.; The foiipwin'g;were .thei-.items; :-rSpirits, £l6 4s; wine;, ■■£s>4s;::beer/£4 15s:; goods per meaßViremerit;' £ls: 3s- .6dV goods' per weight, £ll4s; other duties, 6s; light duesj£2 0s Jjd.; The following is an abstract of the,quan-; tity of land sold iri the various districts, at the Wastei Lands Offlce'.oh,Monday :--Mari.deyiile district; 34d;acres| Tiniaru do, 50 do; Eliesmereido, 20 do; Banks .'Peninsula, s'Q.doj" total,466.acr^:realising^92p.:,

HoEiTiKA,—The' West Coast Times of April Breports:— \ There has been a marked improyemerit in busiv ness during the past week, and although .the import market: has not been- heayily : :6'perated, upon; considerable activity has been evinced'with wholesale houses inthe.coastirigandcountrytrade; Comparatively small, additions have been made to. stocks, arid these 'consisting principally of produce from,inter-prbvincial; pbrtsj shipmeritetp.hanii from the neighbouring colonieshave been confined to freights- per, steamer, .consisting mainly of soft goods; hdm'aterial alteration can be hoticediin values;, the flour, market is : without alteration, Stoeks.are working down,:ahd sellers are''firm,;for; Adelaide town brands, £l6 .to £17;: Chilian.and Californian are. not.inquired; f0r.:... Oats..are in better supply, rijalising at ship's,; 6d;to4s; 4s 3d has been.theprice wanted privately.: Potatoes have been sold at £4 per ton, .not first-classj; really good are.;w,orth.'£6.. Carrots, have, been' placed at. £4 16s. .Provisions continue in ■ good'.';,demand;- ' first-class":; hams' bringing 1 Is'. 6d,' bacon. Is. :4d; : .. a..'., shipment; of .'Sin; clair's realising:under the hammer Is4fd. for; equal proportion, :: Beally: good butter; is scarce,' ,and,worth'.lß.6dto..ls..6d.. Colonial cheese,;"*■ Candles continue to. droop, Belmont's [realising (! 3Jd.td 18;.4d, a v price they cannot be imported for, p"reference^ ! bemg;iglveny:tor:Kere'-Ste»rine,-JnoV :.worth'lsfid;; Sugars meet, with a fair demahd,.,at slightly.improved rates.:.;ln wine arid spirits there have been rip [transactions for note, prices ■ remaining as last quoted j stocks;are'■■■'not'; neavyi; there has been more enquiry for brandies, tending to improve value; second class ports and sherries: .hayabeeKplaced at low >rates,-: affordirig'.rio.en-. : ;terion;as toWalue of good to fine wiheß,Vwhichare.. mmoderate demand, at fair prices.- Beer; (in glass)., .continues at[unremunerative rate's;:to importers;': Mr : W; G-. Binney.'reports the following;.sales. ;diiring ; the past week:—Cargo.of the[Sprayj from' "Lyttelton, realising for oats, 3s 6d to.4s. Adelaide ;-flput.m'.6olb:baga;£l4 lOaj'-'Blood'a stodty:l3a!'pd;' .Sinclair's bains and bacon, equal'proportions,'lr 4Jd; Canterbury' cheeee, : ;lljd; '. Also," 80? kegs; Wellmgtori.butter,. at.-Is 6d;jßelmont candles,. la3|d. /■',:,■:/:■■/"■■■■.:■ ■.'.

' ■' THE^EW';ZEALANp-:STEAMV,.-':-' :. : • .NAHGATIO>JCpi^ANY,,:;-, '■ We;(Ni Z. Mvertker, April|B)/are indebted [to Mr Bishbp,[for,the.folloWirig particulars; bf [A 'pri-i vate meeting of shareholders;in-[the -above coni : i pany, Which was held/on Friday, evening; at: 'BarottfsiHbteU.' /' : V:,/ : ■;,'/ : ';-.;[;; "'-**:•: ,Mr. the chair., ,-Mr the iannexed report[of the cdrh'r mittee. appointed- at the /previous.meeting,:,and[ , which was [with- a vote of .'thanks from[ 'the shareholdersto. the corhmittee for their success-: 'fu| ; exertibns'r- ' '■^''^.■■'//"■'■'■V'/'-.y' The protest; against amalgainafeon which you adopted,;was : signed bj[.72 ■ shareholders) resident ■ -here and;atthefl[utt,,arid ; was:[.hahded[iri;; : to[/the [mahagM^f; the/company [;ori[. the Bth';Marich; [tor fgether.with the separate/protests/with; the-signa./ tures;bf-88 ; shareholders;/,.v[;['/, ■';[■/;;■::[;':'[;.,- : ; : ''/ Acircular. note froin ybttr committee, with.a copyof. the resolutions and protest had; .ariopted.together with a letter commenting on, the report.of the Panama Company's December meet- : ing l , attd 'also -, a proxy paper was ■. issued to everj' shareholder^ ; in;the colony'by : 'ihe .first I 'week in March—those; /. ti> '■: non-residents' -J in ! ' Wellington/wereall posted on March ,}■:.. \! : .':. :■■;■: Z : { . ; This responded; to by many proxies' feeing sent; in [tb ; ranous shareholders; 53: werj ! : sent to: jour committee; by the 20th March, in time, aridlohave;been, received too/Zlate; which would [.otherwise: hare increased'the maioritv b'v ■ni;:vp[tes.[/;[:/' ■ :: '?y'-^:: : :^\y : -:'}:. .;■"..;; The; result: his be«n[ that on Friday iast :V the j scheme .of amalgamation.: was; rejected by 1314 ivotes against 471; and by 143 shareholders against j'3Gv ™' : ,[object..for:w)jich .your corririiittee. was therefore been attained.'' '• -./.'•■'■-;■.' ;/'"'i:: : [V-- : /[/J.,[E,NiTHij'-: : /: /.■'■- ; '/,Ep.Owß>,v"..;■';[[/ ■/-.y '■■::■-- w.bishop.v [ .WelhngtorySthApril, 1867.:/-' -^.;v-:.;/:. : "■■.--, ,- ''lt being 1 generally .believed, from' statements by ;«everal of the director's;: that they ...intend, to pro-, jpose/'at the meeting on the 18th insti, atYonce to uM.yp':the Company, the following/resolution: :,wasput and carried unanimously :—■ ■:'/■'[;">■ j : ;:That this .meeting considers thSt any""-attempt to wind up the.Company at the .present moment |would be seriously injurious to tho interests of the [shareholders; and that efforts should be made toprevent the adoption of such a plan. ■';?•■. .-'.■/. [/[[That/; in order to secure a profitable return for the capital .invested, it ie ; requisite that amore economical arid energetic system of management beat once iritrodiiced, arid under a Board of Directors, the number of which shall not. exceed .'five, or be less than three. ~.; . -. , ;; : - ;i;;The following Committee wat,[ appointed to carry out the vibws of the meeting, with power.td. add to their number i+r "■' : > ' / ■. . /;;• J. B ; Nathan, B. Owan,'W; Bishop,. J.^M;Tay-. ; lor,-[;/E;[GJoomath, Joseph; [Burne,[.:and: : John; ./"''"■;[ ''' [[■■' OFTHE BANK OF AUCkLAND. [ -.:, ■{From the Souther* Crost, 4pril 3.) '/' i .;;'Yesterday, the town was thrown into.[a state of considerable excitement by the announcement that the' : managor of the Bank of Auckland bad absconded. The facts are. these:—Mr Johns went on board the 'mail-steamer for Sydney,' and attempted to obtain a passage frpm the captain', A clerk of the Company being on board, 1 oncoming' ashore informed the agent, who'iaauditor'ofthe Bank, and the directors sent off a police-boat, with the solicitor of the Conroany ion board, with the view of inducing Mr Johns to return. • They bad no authority to arrest him. .The maifstearashin was detained for some time, enabling the boat to reach the vessel;, On reaching the steamship, and being beckoned:,to, .[Mr Johns came off the poop,

and descended tie ladder, into the boat, ! which at ohce put off for. the »hore.':.v Mr Johns and Mr Hughes,iknded..'at the Gore-street; jetty, and waited to the Bank, the police-boat pulling to the Queen-street Wharf,;thei mail-ship.'.Vat the same time steaming away. : ; ■ VX'.' ? r ,~ : -3 On arriving at the bank, :: an examination into 'the accounts was made by.the : directors, and continued until'alate' hour last .night/ No'detalcations.werediscoypred./.;There was'evidence, however, of. ah "undue! 'attempt', to accommodate constituents of tbebank; about£4ooo.pfoverdue bills; ■having-'beeVreturned.byJhe '.mannger;';ds'specie.: .This..facile disposition, to.accommodate .'persons. !bank,'pr6yed.the.ruin;.of': :the manager.■■'■; He.concealed all.kriowledgo of .the fact from the! directors, s 'as .he" did,, also.pfa considerable advance oh the brig Flyjng. Cloud; ... '" ■lt.':is.:ri'6t"' : :eMily, ; ascertainable" why. Mr'. Johns! should have' absconded,.;because"ihere" yraa'no. charge against hiriv beyond that of Mismanagement, :and: this ; was equally .chargeable* to the directors, who: ought to:have madb;'. themselves . conversant !with the. business of the bank;. The rumour; in .town, yesterday'was to .'thd; effect that ' the Union ■Bank had; refused; thp ,-notes;; of' the .Bank of Auckland, and so. brought .about the crißia. This is.:not strictly, true;. iUp-.tO'three / 6'elbek yeaterday; afternocin the. iiotes.; of the Bank of Auckland, were, not.refused at; the.Union;,but .■"then;; when! a pa'reit of i6(W was brought up to balance '■' the;'. exchange,,'.tho.:. Bank", of Auckland ;agent was'requested ~tb..bring gold.!,.instead,;of ■ paper. .The same lodgment of enlarge sutri in ,paper,;,to balance the. exchange; had occurred repeatedly,' 'arid..the; manager•-thought.^and wisely—that it was tune "to'bring :it:to-.ari end. , A meeting of all the batik managers ; was held at the office of.the Union Bank last evening, at.which the difficulty created by these events was discussed. Messrs J.O.'Neil arid D. Nathan,.! two directors of the. Bank of. Auckland,. attended, .■ and ; explained ■ tbe!'pbsitibri' of,the : Bahk; 'At this meeting it was resolved fcp.pay the; depositors "and" note-holders, ! reserving the.. question. of! security .to a future : me'eting;(to-day);and;the extent of-liability was ..to be fixed Jby, a report from; ,ttie. 'accountants of the other banks' appointed for.that purpose. The Bankof New Zealand and Bank of NewlSouth ',Wales!were,represented at this, scrutiny. . Lirefeferice'to thisarrarigeinent, 'thefollowing: paper was.last'jmght'han'ded to us for.publicatipn by'the Directors of the.Bank of.Aucklandirr ■ ';■■;.!.,-

'■■' We are "authorised;fo [state/that arrangements are.in progress, under .which four, of the banks .carrying..'.'.pa' business'.':.m,..this'.place;-.: viz.; the Union Bank-of Australia,■:the :Bank of ■New. South; Wales, '.the'; Bank, of' New': Zealand; and.theßank of. Australasia, will take over the /business of the/Bank .'of Auckland and discharge ; :theirjiabilities.v. The; Bank. of y Auckland; [will .undertake no new business, but will be kept, open until the, transferis [complete.... ~'■■.,. 1 Itjis difficult:to:say, why;Mr[Jphns should have .attempted.' to..leave-.the'place,...except that'over anxietyiriblher: matters:affected him. He had '.only .£B'.in.his'possession... He.is not in anyway,' solar as.we know, indebted, to".the Bank. He waß.anxiousto;do a large business, ,ah'd. perhaps presumed ;too 'much: on the truthfulness:, and honesty of his constituents;. ~At'all'events,''th'e rash step he. took'has. precipitated matters.;, The Bank of, Auckland will wind up,,we,.trust,.with no loss to. the shareholders—arid " Local .'Enterprise : No?2'':will : ;have. gone to the wall. Mr Johns made himself personally.. liable for £4OOO. oh; : account of the Thames Saw-mill Company,. payment of which was pressed yesterday; : latest cpmniercial news; "coipesvia Sydney;arid is contained inatele-. grarii dated March 29 to the,Sydney}Morning : l.^rera/ipi':'March.3o;

Small sates of flour [are reported, [at £li[ iOsfor: Yicforian; arid- ; £ 12; 10s. for South Australian; Port M,'Dprinell.wheat,-4s 10d!in Bpnd;;,Tictoriaii wheat,4s 3d;tp[ 4s„6d; oats,-, fa. 6d to :4s; maizoi[ 3s 9d.to:4s[; sound qualities of white crystal sugar, ■£43;■■CalcuttaVsacks, 13s, 'The' : Carl,''[from'Cal-:. cutta,. brings. 150 tons rice, which ; was, Bold.tparriye. TheElDoradpbririgs.ftO tons rice;one 1 ' haifof which;Wßi:sold to arrive. . . : ;Amium,—A 'telegram to the Sydney Morning: Herald of March: 30j dated .March; ■29j; say's-: Wheat is very firm-at 4s,ld to 4sl|d,[ at which prices salesare'reportedifor export... Flour con-; tinues dull at £lO to £ll. SiDNET.-rThe -.Sydney Morning. : Herald : of April l,in its summary for: England; via [Panama^reports':—"'[' ..:.V'V..",.'.;'- : : ; . Since the departure of .last.[Panama mail; trade hasibeeti rather inactive; owing.to the.uncertainty; .existing as. to the effect of home, advices [by the Jainuary overland:mail.. .The"receipt "of. these [has hot rendered matters more. brisk. Second. houses do riot seem willing to overburden theiri-;; ,s'elyes..with;,,stpcks I .an[d:[im'porters' are:-indispos'ed' :. to. auitvgoqds, unless .at [fair; rates;.. .Should.next .mail bring advices of a further decrease in shipments :.to..this colony, an,active winter.business is looked, for, especially, as; pur. mining and pas-; : toral interests.are[ likely to be materially improved by the late rains, and the farmers by an improved demand;for.;their'- produce;'.,. Money continues [easy, and a large amount of capital awaits remu[iterative investments.':'. .Bank :stocksfare most in--quired[for,-, but''there-'is■■ little. allrecently 'disposed,of has.beehat a i'air advance on i.the'rate.rulinglast month.. ..There jsiribt'jnuch: [export trade doing in; the wool market;.the bulk, of theriiorith'sshipmerits.havp.been on [station aeiiouint, and.th'e whole ..of the ships bri the berth ; for [the July [sales, havirig completed [their engage-' : ments buyers'[:are';.;looking.[for a.[reduction;;oh ;the rates paid /'at': public; sales: ; ; a. fortnight since; ;ln breadstuffs our present wants'are being sup-' ;plied. : frorn•■ South Australia, where;:'aecordingj.to [Governmentstatistics, there' are ; stijl (fO.opo tons, available for [export. 1 [30,000 tons [have already shipped from' Adelaide—a large Dortion being ; |or..Englafid and the' Cape it Good'Hope;,.[There [isj'-'yery.'.little'hforeigri'.'in/'stooks here; and what' 'there'; is in second hands,.[ The cargo of' Chilian flour ex Zillah.was sold at auction,.with all faults/ 'broiight.-. from-' to £9 [per; tori, [A shipment of [6OOO bushels Chilian wheatej;Albe'rt'Williatti'-.brought at"[public sale Is 6d, : and a parcel of Californian (faulty) has been similarly:disposed of during the pastweokiat 4s7d. For large, parcels of best Adelaide brands £l2 [ 10s to£l3via:about'thb^;ruling rate/'stnalllots./ 10s higher.:. [Town made mill flour is selling, at{£l2■. Californian £lltp : ; £12105., Chilian in good ditiori.-.'is.'worth.:£lo ;to. £lo;;:l'Qs;.'inferior/land damaged ; from./£8 [upwards, most of .'the'remairi- , ing stock is of the latter deseription. Small parcels of.Adelaide[;wheat;ha[ve lately changed! hands , at[ 5s .3d,, butlarg'e: Ipis'cannpt.be: quoted higher : than 65. : .A portion or thfefshipment of barley and I oats (Californian) ex/ William ...Cole,; was sold on the, : 12thKby [auctibn--oats, at 3s 3d ■ to, 3s 6d; [barley,2s ibd.to,. 35./; -These;rates;,represent fair i market value .[ail the. present [ time... The. market forcaridles.has a lower tendency,';ahd purchases jean be made'at slightly lower' rates than ruled, a fortnight since..'. For plantation sorts of Coffee lOd !to[lOM, isa fair quotation.: Manila andJavd, 7d ■to 9d. s/Woolpacks are dull; of [[sale;, cornsacks j firnjer, but little demand at, present. Sales jhavebeen-msjleat - l4i 6d/but most,holders,look; ifor M 15 ; 8'"/'Dates,: figs, and:.Prencli prunes, are,in jgood supply; New currants command 4Jd to sd; jether descriptions of sound, 4d to 4Jd.' Muscatel jraisiris rrieet, a fair',trade demand■ at" ; 7d to Bd. j Sultanas;/ and vslcmeß'[ are :: /very';scarce ■ at to 9|d.::;,.;The[.market :;: for. liquors'/has.: been cleared;;,,, of -Vail.;, [the -...MurrianV-'-'new brew, and, .a"., large [portion/'! of [[the r shipment / ex 'Sulina; has ..been" sold i: to ; avriye, ",'■ Worthington's has been' placed at a shade pver £9, ,and any knownbrand of tiew.brew will'bririg friira' : £8 iipj wards. Bulk portereontinues unsaleableat nominal [rates.. Beer, in -glass, is [ not ..in much demand. ißass's pyramid ale has been placed by auction at |9s 3d to 9s6d. f Allsop's sold, 9s;,9i price'forothergbodljrands, [Sound bottle stout is not plentiful, butibereis an .ample stbek'offaulty; We quote''Blood's at 10s, !D(ipphy'« BsCd'taOs.' I Pig brand is- scarcej arid 1 worth 9s 6d. Brandies move slowlyj owinffto the immense stock: Martell's new has been placed at 6s 3d; old is worth 6s 3d to 6a 6d; pale 3d to 6d higher; Hennessey's is held at 6s to 6s Bd/ best ■ grands pi case are quoted at 25s to 275; second-, rate bradies may be had at; 21s to 245. -.. 30 o.p. rum is selling at 3s 3d to 3s 4d.[.r Genevas dull. Whisky is in short stock here,* but. as'thore.ia plenty at Melbourne, supplies' are received here as required, [A sale of Kinaban's LL was recently made at 8s; other brands of Irish bring 4s 3d to Scotch is worth about 4s for' best. Old torn, in case, is inquired for ; wines are quite nominal, with'an ample stock to last/over thb year. During, the,-past week, a fair business has leeri;done privately in oilmen's stores, provisions :c, at [bettor prices than obtainable for several months; pint pickles, best brands,-are. worth 8s 6d to 9s, and second rate 7s to 7> 6d; bottled fruits, lis to 12s; white starch, 4d to sd; blue ditto, 3jd to fid; Colman's. blue has been sold at 9d; quart salad oils bring 20s to 225, pints 10s 6d to 12s, half-pints 6s 9d to 7s 6d; assorted sauces, 49 6d,to7s 8d; 1-lb jams,los to lis 6d; 2-lb ditto, 19s, 6d to 21s 6d; bacon arid hams continue to sell at rates which lcavo a loss.. Sardines are improving—quarters are.worth 6s 6d to 6s 9d, halves Bs. A;small shipment,of really prime cheese would meet a good market—say 14d to led per lb, inferior'.l Id _ to, 12d.; Pearl barley sells'at 3d. Oatmeal is [slightly dearer; small packages ate worth:.3Jd.to: jd;..bulk, 25s per cwt, Low;; and ;. medium congous,';; iri : half-chests, are very scarce; and wanted at full rates, and also chests.[of any. grade [valued under £8; scented pekoes/, sell at/ 2s ..to 2s. 3d; fint congous, £9.,/[tb[v-£10;.. ?' for.,, sugars is..[ very firm; and no' likelihood Vof lower [rates ruling for some time; the great bulk of pre[sent stock is- held, by the [Sugar Company, whose.-

rates for refined sugars range from £42 to £49. The shipment of Manila sorts, ex Harriet Armytage, has not yetbhanged hands, but will probably do so during the ensuing week In the present state of the tobacco market, it is impossible to get anything like a fair price for any samples offered for positive sale. Some few brands, of whioh stocks are moderate, may command something near invoice pries | but, generally speaking, the market was never in a worse state tor importers.