MONETARY AND COMMERCIAL.

Daily Southern Cross, Volume XXVI, Issue 4154, 6 December 1870, Page 4

MONETARY AND COMMERCIAL.

Daily Southern Cross Office, Monday Evening. The most important event of this month is the final arrangement between the Post-master-Creneral and the North Pacilic Transportation Company of San Francisco for a new trans- Pacific mail line. As this line will be worked by powerful steamers built on the best American models, of not less than 2,000 tons, and fitted -with every luxury and convenience for travellers, we cannot exaggerate its probable benefit to the colony, which will be at once in pleasant and rapid communication with America, Europe, and the Sandwich slanda, and no doubt with others of the South Pacific tropical groups before many months are past. Trade during the month has shown a steady improvement, although there are no transactions of any great extent to report. The yield of the goldfields has continued increasing, especially at Coromandel, where some rich finds have been made and heavy dividends paid. Confidence in both Thames and Coromandel is strong, but the results of the former scrip mania are so recent that few people are to be f->und ready to go into even legitimate undertakiuga. The continued diminution of imports from Europe has tended to make prices firmer, and to give a more healthy tone to the market. At the same time stocks of many articles are unprecedentedly low, and little margin exhibited between the wholesale and the retail prices. The long drought has been followed by j tardy but welcome rains, which have saved ' a considerable portion of the crops, and freshened the pastures. Both in commercial aud monetary circles confidence has been uninterrupted, and we have no failures to record. The bank rates of exchange have been reduced 1 per cent., and stand at 2 per cent, for drafts at CO days' sight, 24 for 30 days, and 3 per cent, on demand. Discount ou bills 2 months' currency, 6 percent.; 3 months, 7 per cent. ; and 4 months, 8 per per cent, per annum. The rates of insurance are without alteration, except on yesseis trading among the islands, for which it has been raised from 1£ to 3 per cent, per month. To Levuka, or to any known port, vessels ,t, r oin</ direct are, however, charged the old rate. War risk has not been taken, so far as we can learn, by any of the local offices, arrangements having been made by the banks to pay to London offices any rate that may be current there, should England > ecome involved in the war. In shipbuilding, there has been considerable activity ; several small craft, among others, being on the stocks, for residents of the Fiji group, with which an extensive trade has been springing up during the past year. From other islands, the imports of cotton, cocoanut oil, cobra, and fresh fruits, have also been markedly on the increase. Among other incidents, we may mention the opening of new and extensive premises for Messrs. Whitson and Sons, who have long held a high position among the brewers of this city. Nor should we neglect the enlargement of our small glass factory, to assist in which two experienced manufacturers have arrived from Sydney to join the enterprising founder of what may, and we hope will, become an extensive industry. A blacking manufactory has also been started, and is said to be doing a good business. It is in the hands of Mr. C. YVilliains, who has had considerable experience in this branch ; and ib will, therefore, stand all reasonable prospects of success. The shipping, Customs, and trade returns w ; ll be found in their usual columns, together with the detailed price-list to which we refer those of Otir readers who desire more minute information. 'The following refers to some of the leading articles : — FLOUR AND Grai.n. — Auckland millers charge 142. to 162. Southern brands salable at 132. to 142., and Californian quoted at same figure. The importations were considerable up to the date of our last summary: since then only 571 sacks floui-, coastwise, have been received. Wheat has receded to ss, but with every prospect of improvement, as the market is far from overstocked. The import* since our last summary have been 7,046 sacks, of which a considerable portion was on millers' account.

Maize.— For Sydney, 43 3d to 4s 9d ; for New Zealand, 4s 3d. The receipts have reached closely on to 1,500 bags.

Oats. —Only 3SO sacks have been received, but the market was previously so glutted that they remain unsalable.

Teas. — The demand light for all excepting sound good kinds, and the supply of lower qualities continues excessive. Prices are firm, but sales during tho month small.

Rice. — Receipts, 562 bags, which were insufficient, and which are going into consumption daily. Present quotations, 3|d to 34d, but none to b 3 had.

Sugars. —About r.'O tons have been received from Sydney, a supply quite inadequate to meet the wants of an absol tely bare market. A further shipment from Honolulu of 150 tons is daily expected, and should come to a good market. Dried Fruits : There being none worth mentioning in the market, we have no quotations. If shipments are not received before Christmas many will suffer considerable inconvenience. Jams : Keiller's marmalade scarce at 12s ; Adelaide marmalade, 9s ; Hobart Town jams, assorted, in tins, 7s 6d. Confectionery : Keiller's assorted, lOd to 10|d ; Grey's (Auckland-made), assorted, at _|d.

Fish —Salmon, 15s to 15s 6cT ; sardines, quarters, 7s 3d ; lobsters and oysters, scarce, and small demand, — being caught here in considerable quantities.

Oilmen's Stores and Groceries of all kinds are in short supply. Kincaid's BOTTLED Fruits sold by auction at 13s 3d. Salad Oil, half-pints, 7s 3d. Castor Oil, halfpints, 6s 3d.

Candles. — Moderate supply, but not advanced as expected. Price's are quoted at 11M, Hale's and De Roubaix's, at ll;{d. Colza Oil, ss. Kerosine, in fair supply, at 3a 6d to 3s 9d, duty paid. Ship Chandlery well supplied; with the excepti n of Stockholm tar. Quicksilver scarce at 3s 3d. Bacok. — Colonial, 7d to Bd. Hams : English have been sold by auction at la 4d ; colonial, Bd. Cheese, 7d to Sd. Butter : A perfect glut and unsalable. Tobacco. — Sound and good tens are in demand, at lid to Is Id. Aromatics less inquired for. Coals. — 1,471 tonsreceived from Newcastle since our last. The market overstocked, and quotations 22s to 22s 6d for cargoes. Tho Bay of Islands coal Belling at 2t)s. Wines and Spirits. — The market very dull and overstocked. Brandy: Hennessy's sold at 7s 6d to 7s lOd in quarters by auction, and in case at 30s to 31s. Geneva : Full contents, 16s ; smaller, 12s 6d. Whiskey overstocked and unsalable. Rum : 30 <> p., in demand at 4s 3d to 4a 6d. We hear that the first shipment of rum from the New Zealand Distillery (Dunedin) is on the way, and our own distillery in Auckland will soon be in full working order. Beer: Bottled and draught both unsalable, being superseded by local brews. Soap. — Auckland (Warnock and Co.'s) selling at 225, and likely to shut out importations. Flax continues to meet with fair demand for good qualities'. At Buckland's last 3ale best kinds realispd 13/. 10s to 16Z Middlings were dull of sale at IQL, and for inferior no offer.

Gum comes in steadily at 2U. to Til. Tho latter for the choicest qualities only.

Timber has been well supplied at 10s to 12.s for assorted ; 13s to 14s for tongued and grooved ; 10s to 12u for shingles ; and, 103 for sft. kauri palings. The only vessel loaded for London daring the month is the 'Excelsior,' which left soon after our last summary with a cargo valued at 47,0-1/., chiefly of gold, silver, gum, flax, and wool. The ' Aboukii' ha* not yet left, but is full. The only ship remaining on the berth is the ' Countess of Kintore.' The ' Tirnaru,' daily expected from Lon on, will belaid on immediately on discharge of her inward oar^o,