COMMERCIAL.

Press, Volume XVIII, Issue 2420, 31 January 1871, Page 2

COMMERCIAL.

TIMARU. —The Herald of January 28th reports:—During the early part of the month there was a slight business for this season of the year, but a gradual improvement has been perceptible, and increased transactions are now going forward. The demand from the country districts is at present good, nud a very fair import business is doing. The intelligence by the last Suez mail has had a slight tendency to lower the value of breadstuffs, but the heavy shipments from Australia to England will tend to prevent any further serious reduction. In general values there hare been no great or important alterations, and as the stocks of general merchandise are light, the tendency is likely to be towards improvement in prices. The wool season is well advanced, but the stores are very full, and the shipping not so forward as usual on account of the scarcity of freights in Port Chalmers and Lyttelton. In regard to money there is abundance for investment on really good security, but the banks are pursuing a very careful policy until the result of the floating of the loau is known. It is indeed reported that the Treasury is unable to get further advances at present, and that no more will be advanced than is sufficient to see the Government through their present engagements until the assembling of Parliament. The grain market has hardened since our last summary, and for the coming season prices promise to be very fair. It is impossible to quote present rates, as there is nothing doing, and large quantities are still held by speculators. We hear, indeed, that if prices keep up in England as is expected, two, ,or possibly three ships will load at Timaru this season for London direct with wheat. The last shipment of grain to Melbourne by the Adeline Burke realised the best prices that have been obtained there this season. The wheat realised 5/6 bushel, barley 4/ to 4/4, and oats 3/lj to 3/7. The consignees express a belief that New Zealand wheat will rule from 5/6 to 6/ » bushel. The price of flour has advanced, and bread is now 7d and 8d the 41b loaf. It will be seen from full particulars elsewhere that meat-preserv-ing has been commenced in this district; but it does not appear to have had any great effect on the values of sheep. Stock of all kind remains dull, and without much enquiry. The timber yards are better stocked than they have been for some time, but we have heard of no change in prices. The exports for the month .show that grain has been held back from exportation. The exports since our last summary are as follows: —"Wool, 2775 bales; wheat, 4056 bushels; oats. 2(50 bushels; Hour, 12 tons: besides dairy produce, bacon, hams, cheese, kc. DUXEDIN.—The Dally Times reports:— Business continues with a moderate amount of animation; but during the past two or three days there has been very little of special moment going forward, and the import market has shown few operations of any magnitude. The advices to hand to-day, via Suez, are scarcely of a nature to affect the market, and now these are to hand, we look forward to a steadier trade, and to little alteration in any kind of goods for the present. Among the moderate transactions occurring have been some small lines in spirits, brandies, both Hennessy's and other brands, being parted with at as nearly as possible our last quotations. Good congous also have had a little attention ; both for town and coastwise requirements tolerably good parcels have been made. While, however, this is the case, the demand for all lower descriptions is lessening, and stocks of these hang heavy on importers' hands. Sugars are quieter. Candles are held rather more firmly. Cornsacks also looking firmer, but no very recent sales reported. The market for breadstuffs continues with rather more firmness, but with only a limited trade. The demand for fine flour has been better, and oats more asked for. The quotations for grain and flour remain as at the commencement of the week. 'Messrs Driver. Stewart, and Co. report: —Our second wool sale of this season, held at our stores to-d:iy, was well attended, and the bidding, on the whole, spirited. One lot was withdrawn for want of instructions, and two otliers were bought in ; but, with these exceptions, all catalogued were disposed of at prices which we believe will give satisfaction to the growers. The total sales amounted to 542 bales.

Sydxey.— Tliu Sydney Morning Herald of January 17th, reports: —The report of the Sydney Exchange Company, adopted at the half-yearly meeting held to-day, shows grass receipts for the six months ending 31st December, £712 6/G.. Expenditure, £522 7/9. of ■wliich £223 was for interest on debentures. No dividend -was declared. A balance of £189 18/9, was carried to new account. The General Assurance Company has declared an interim dividend of 5 per cent, for the half-year ending 31st Decem- ! ber. The expected arrival of the English mail has put a stop to business in the import markets, and during the day no sales were reported. Holders of sugar have advanced their prices in consequence of recent large purchases made privately, by which the great bulk of stocks has passed into second hands. Breadstuff* opened firm. Statistics relating to the export trade of this port during the year just closed, show a considerable falling-off in shipments to England. This may in part have arisen from the additional inducements offered by the Government of Victoria to attract traffic to their railways. The quantity of produce shipped from Brisbane direct to the London market is also increasing every year, so that the divergence of a considerable portion of the Queensland wool clip may also be taken into account. For the same reason there is also a decrease in the export of cotton, and nearly all that is now shipped hence is the produce of the South Sea Islands. The increase of local manufactures has within the past three years reduced the foreign shipments of hides by nearly oue-half. In 1869

the number of vessels cleared outwards, for London, was 49, aggregating 49,815 tons. Last year only 43 vessels left; their total tonnage being 5581 tons less than those of the preceding twelve months. The principal exports during 1870 were —wool, 97,566 bales 16 pockets ; hides, 36,380; tallow, 24,389 casks ; oil, 5160 casks ; cotton, 2718 bales; leather, 1488 bales ; preserved meat, 15,373 cases. In 1868, 104,560 bales, 31 pockets wool, 62,214 hides, 20,275 casks of tallow were sent to the English market. In 1869, 118,38} bales wool, 55,689 hides, 19.314 casks tallow, 6737 casks oil, 3183 bales wool, 550 bags cotton. Preserved meat forms a considerable item of last year's shipments, and although it cannot be considered as a new product, any claim to be considered amongst the principal exports may be said to date from IS7O. The efforts iof some of the residents of Illawarra to \ introduce Australian butter to English consumers, promisesto develop into an extensive trade ; over 1100 casks have been cleared during the present month, and other shipments arc in progress.