MONETARY AND COMMERCIAL. Daily Southern Cross Office, Monday evening.

Daily Southern Cross, Volume XXVI, Issue 3961, 3 May 1870, Page 4

MONETARY AND COMMERCIAL. Daily Southern Cross Office, Monday evening.

Since the date of our List monthly .summary, business has been altogether of ,1 retail character, operations of any extent having been, rosir cted by the continuance of numerous failures, and the unsatisfactory prices obtainable tor goods". The imports during thi3 period have been heavy, and include the j cargoes of the 'Inflexible' and 'Alice,' from I London ; also the ' Waverley,' from China — i filling our market with goods far in excess oE its present limited wants. We cannot anticipate a speedy reaction, several English vessels with full cargoes being now fully due; so that importers must either be content to hold over their stock, or to submit to a loss if determined to effect immediate sales. We regret to learn that the suspension has been announced during the last few days of a house doing a considerable business in the wholesale grocery trade, which circumstance will doubtless tend to increase the previously existing depression and distrust. Advices by the last English mail are considered unfavourable with regard to kauri turn and flax, resulting in a decline in prices ere of 10?. to 12/. pev ton on the former, and 41, to 5?. on the latter article, -which is di^fioult to place at quotations. Two vessels have sailed for London during the month, tho 1 Seatoller' and 'Anne Main,' oarrying cargoes to the v&lna oi 18,899 l The principal itezaa of export by these ships are—Kauri gum, 11,182?. ; flax, 5,086?. ; wool, 7,590?, > gold, 25,455?. Auction sales during the uaonth have been characterised by a want of spirit, considerable quantities of goods in insolvent estates having passed under the hammer for cash, and been quitted at very low rafcea. ' > Flax.— ln consequence of last English advices quoting this article at 257. to 31/. 10s (for very beat samples), in London, rates have given way here, sales being difficult to effect even at our quotations.., Some pro Queers are shipping to London on their own ipbcpunt rather than sirt?|&"t to the decline.

Kauri Gum, in the face of the very heavy shipments from here, has given way, ami purchasers now offer but 30f. per ton for clean scraped gum, a price which will verysoon check the rate of supply. Flour, without material change. Suovk. — Stocks are moderate, and prices for white crystals are maintained. Yellowsugars are neglected — say 4d to 4£d per lb. in bond for the former, and 3jd to 3<d for the latter qnulity, both in small mats. Tea. — Stocks are still large, and sales are effected with difficulty. At the auction sale of the ' Waverley'a ' cargo no business waa done Feeding Grains are in fair request at our quotations, maize being saleable at 5a per bushel ; good Canterbury oata at 3a 6d per bushel. Wine and Spirits. — Rum in hhds. and quarter-casks ia wanted, but otherwise the market is chill, from auction aalea havin» interfered with legitimate trade. Coal. — Newcastle is obtainable at 255. per ton, and is without material change. The usual business is doing in Bay o? Islands coal. Timber. — Still scarce, no fresh having occurred to bring logs to the various mills ; the demand, however, is very limited. We may quote boards and scantling, at mill, 9a per 100 feet, by the cargo ; delivered here, i 10s to 12s per 100 feet. Discounts are still restricted in consequence of the state of the trading community. Hates are without change. Exchange on London : Banks continue to purchase sight bills at par ; 30 days at half per cent, discount j selling rate being two per cent, above purchasing. We refer to our usual detailed price current, which will be found elsewhere.

Customs Receipts To-day : — Duties, 722 1 3s 8d ; light dues, 16s 2d; M.S. fees, Cs6d; arms ieea, 21 12<5 ; port charges, 11 4s. Total, Till 2s 4d. A meeting of the creditors of Mr. H. S. Meyers was held to-day at 3 p.m., when there was a full attendance. The liabilities are stated at £26,500 ; assets, consisting of stock-in trade, book-debts, &c, are valued at about .615,000 ; leaving a deficiency of £10,500. A. committee, consisting of three of the creditors, was appointed, to examine the estate and report to an adjourned meeting. Messrs. S. Oochrane and Son sold by auction at their mart, Fort-street, to-day, the Fearnaught battery of five stampers, ■with portable boiler and fittings complete, and the machine-hotise, also the site upon which the battery stands at the head of the Waiotahi Cx'eek, and the watertight, ice, for £70.