COMMERCIAL.

Press, Volume XLVI, Issue 7382, 7 August 1889, Page 3

COMMERCIAL.

When we last wrote there was some slight Improvement in the Import ma rket but during the past four weeks under review Business in all departments has been of a quiet character, and no transactions have passed which call for special notice. As we anticipated, the » e w terms of credit which have come j_ t0 f orce checked operations to no small extent. Business continues upon a Qj m basis, aud engagements have been het with pleasing promptitude. Sheep fajmers and others interested in the wool $_,<_ frozen mutton trade cannot but be pieced at the prices ruling in the Home markets for their produce. The Prospectus ot the New Zealand Meat Company is now lefore the public, the chief object of the proposed Company being to export meat (principally beef) to Australia and Tasmania. The wheat market remains unchanged, and no great quantity has been exported during the past month. It will be pleasing to see the heavy stocks in store cleared out and reduced to cash, whith would have the effect of imparting ft brisker tone to business, particularly i v the country districts. The Islington Fr eezing Works, a few miles from Christchurch, are now in full swing, and have already made heavy shlpmeuts of frozen mutton. Throughout the month there has been a brisk enquiry for clover seeds, both locally grown and imported. This increased demand has been brought about by runholders having now secured a fixed tenure of their holdings. Amongst the foreign arrivals may be noted the steamships Tongariro and Arawa from London, both with considerable cargoes for this port. Stocks held here Renerallv are quite sufficient for requirements, anil merchants appear to be determined to keep their Imports well in hand. Shippers at Home are likely to be tempted by the extra freights offering to consign to these markets, but they should consider well before doing so, as the ventures can hardly turn out but disastrous to all concerned. During the month ths factory and tannery of Messrs Lightbaud, Allan aud Co. were taken up by local firms, and business operations recommenced. The customs revenue collected in Christchurch during July was -20,141 is Bd, as compared with £15,713 los lOd for the corresponding month last year. During the month sugar has seen a heavy fall in values, and pricee have been ruled by the Colonial Sugar Refining Company, who have reduced their quotations from time to time. Golden syrup has fallen correspondingly in value. Teas have been pushed off in fair quantities, but at no great reduction iv price, in anticipation of the arrival of the first shipment of new season's by the Whampoa, due about the middle of this month. Low aud first-class grades have bsen in short supply with a marked enquiry. Kerosene has gone steadily into the hands of retailers at late quotations, the demand being chiefly for high test, ruling at from ls lOd. In tobacco a fair business has passed; the agents of T. C. "Williams' makes report heavy sales of Juno ex recent arrivals; Ruby 6's have met with regular sales, 5 s have been out of stock; the principal portion of Cameron's business has been dove by distributing houses. In candles Belmonts and Nationals have sold at from 8d to Bsd for the former and B|d for the latter brands; colonial candles have met with frequent sales at from ssd; the better qualities are fast coming into use, and compare favorably with the imported. In dried % fruits a moderate business has passed ; "currants at from 4|d, elemes fiom s_d, and sultanas 6_d to 6_d. Tartaric acid, cream of tartar, aud carbonate of soda have sold in trade lots only at last quotations. Van Houten's cocoa has met with the usual demand at from 3s 3d to 3s od, according to packing; Cadbury's at 10s and 19s 6d for i's and 4's respectively ; Fry's has met with fair sales at agents' rates, Essence of coffee has been in good demand. Iv tinned fish the enquiry has been quiet; salmon at from 9s Cd to i lis 3d, the latter price being for cocktail; I sardines, dull at from 8s Gd to 10s for _'s. and 4s 6d to 6s for i's ; ling, slow of sale at from 50s; Auckland mullet in fair demand at 6s 6d. Cornflour has sold in trade lots at from 3_d to 7d, according to brand. Keiller's marmalade has had limited sales at from 7s 3d. Jams have met .with a regular trade enquiry. Hops have been dull of sale; the market is bare of imported. Rice has sold in trade parcels at last quotations ; some fifty tons of Japan, in a damaged condition, was recently sold by public auction at from £8 10s t»£9 10s duty paid. The duty is £6 per ton. Tapioca and sago have met with a fair demand at up to 3d. Maccaronl and vermicelli have seen a limited demand. Salad oils at 10s 6d for pints and 6s for half-pints ! have only a trade demand. Stocks of starch have been replenished during the ' month, and ordinary trade sales nave ! passed. Lea and Perrins' and Mellor's sauces have met with the usual demand. Vestas, 1000's have sold at 66s 6d, and 13s for 250's. Fine Bait has been firm at from £5 to £510s; coarse salt scarce, with a fair demand. Soda crystals slow of sale at up to Bs. Whiting at ss. Frequent sales of No. 8 wire have passed at from £11 15s; No. 9 has also met with a good demand. Bluestone has seen but a limited enquiry at from 29s to 30s. Galvanised iron has been without animation at a slight concession on last quotations. Boiled and raw oils have seen sales at 3s 2d to 3s 3d in parcels. In cement a builder's business only hait passed. Wire nails have met with ordinary business for assorted parcels. Sheet lead is heavy supply. Speculative operations by a neighboring province have cleared this market of castor oil. The timber yards report a quiet business for the month. Bulk ale has been placed in trade parcels only, Worthington claiming most attention. Ale in bottle of first brands, such as Bead's Dog's Head, Foster's, and Porter's Bull Dog, have seen regular business at agents' rates. Bottled stout has been delivered in trade lots at regular rates. Iv brandies the several agents of Bisquit Dubouche, Champagne Vineyard Proprietors, Dennis Mounie, &c, report ordinary business. Scotch whisky in bulk has been placed in parcels at from 5s 6d to 9s i.b. In case Kilmarnock, Lome, Buchanan Blend, Rob Boy, &c, have all met with fair sales. There has been an ordinary demand for Geneva and Old Tom. Rum has met witbaregular trade demand. Port wine, of low to medium quality, at from 7s to 10s Lb., has been placed in parcels ex recent arrivals. Sherry has continued dull of sale, and tbe same remark applies to clarets. A few sales of champagnes of first quality have passed.