COMMERCIAL.

Evening Star, Issue 12026, 26 October 1903, Page 6

COMMERCIAL.

The quantity of coal exported from Westport last week was 12,290 tons, and from Greyrnouth the quantity was: Brunner, 1,575 tons; Blackball, L 435 tons. ■>

The rest of the world (says the ' Economist') lives under the impression tliat the flocks and herds of Argentina, are "limitless" in numbers. There was a time when this loose, figurative expression passed muster, but that time has passed, never to return! The renewal of the shipments of live stock to England has drawn attention to_the fact that since the year 1895 the number of horned cattle in the Republic lias fallen off a round million heaxl; ooly in three provinces—Buenos Ayres, Cordclxi., and Santa Fe—has there been an increase, and that a small one; and the aU-ronnd failling off is within a fraction of 5 per cent., which is a very serious matter indeed, when the average increase of Argentine herds used to be well over 20 per cent, yearly, though. the refining of the breeds of late years is uaid to have impaired their fecundity. A falling away in the herds at a moment when the demand for meat, alive and dead from Europe is so great, with the certainty of becoming greater, plants a very important problem. Fortunately, the flocks hold their own. The same paper points out that, in. order that the country may go ahead, certain reforms are sadly needed. The cost of government is excessive, taxation is unduly high, trade has been burdened with imposts to the utmost limit, and wlrilo home industries have been fostered at the expense of the consumer, imported goods have been subjected to such high duties that commerce has fallen off considerably. Owners of landed property, again, are Bsdrtfar taxed* and lesanesxif. ier-

j tile country are allowed to remain unin- ! habited, thus giving no revenue to the Ex i chequer. THE MARKETS. Press Association—By Telegraph-Copyright. , LONDON, October 25. (Received October 26. 'at 7.36 a.m.) Copper: Spot, £56 2s 6d; tW month* i/ 00. . "' Tin: Spot, £118; three mocths, £ll3 IGb. Lead, £ll ss. Silver, 2s 4 l-9d per ounce. Galvanised iron, £l4 15s. German fencing wire, £6 ss. For opossum Ekhas.tb.ere is a fair demand 1 at an average decline of 15 per cent, for wombat skins" 30 per cent., and wallabies <£o per cent. Frozen Meat.—New Zealand mutton: Canterbury—light 4 l-16d, medium 4d heavy unchanged; Ehmedm and SoatbJanrL 3 13-16 d; North Island, 3?& Lamb is unchanged. New Zealand beef, 1801b to 2201b fair average quality: Ox fores, 2£d; ox hinds, 3gd. River Plate: Sheep, heavy and light, 3£d ; beef—fores 2d, hinds 3£d.

REDUCING CAPITAL.

THE HOP MARKET.

Press Association—By Telegraph—Copyright. LONDON, October 25. (Received October 26, at 7.35 a.m.)

The New Zealand Agricultural Company propose to reduce their capital by one-half, returning shareholders 10s a share.

The official estimate of the English hop yield is 83c\rt per acre, giving a total production of'42l,o7Bcwt.

GRAIN AND PRODUCE REPORTS.

Donald Reid and Co. report:—We held our weekly auction sale of grain and produce at our stores to-day. The catalogue submitted was a fully representative one, but met with only moderate competition, and as many of the lots offered did not elicit satisfactory bids, a considerable proportion of thi catalogue had to be passed in. Prices ruled as under :

Oats.—l>uring the past week there Lis been moderate demand for good to prime shipping lines at reduced values, but for other sorts there if little or no inquiry. We quote: Prime milling, Is 5d to Is 6d; good to l>est feed, Is 3d to Is 4^d; inferior and medium, 9d to Is 2d per bushel (sacks extra).

Wheat—Local stocks of prime milling quality are small, and continue to move off slowly, bat for anything like large quantities the demand is slack. Medium sorts are not greatly in favor, and fowl wheat is offering more plentifully at slightly red-need values. We quote : Prime milling, 3s lOd to 4s 2d; medium, sc) 3d to 3s 8d; whole fowl wheat, 5s to 3s 2d; broken and damaged, 2s 6d to 2s lOd per boshel (sacks extra).

Potatoes.—Consignments have been coming forward freely, and can only be quitted at a redaction in values. At present there are fair supplies on hand, which are being slowly quitted at—For beet Derwents, £3 to £3 10? .- medium to pood, £2 15s to £3 per ton I bags in). ChafL—Prime oaten sheaf is the only quality meeting with any sale. Medium light and inferior sorts are a drug in the market, and almost impossible, to quit. We quote: Best oaten sheaf, £2 15s to £3; medium to good, £2 5s to £2 10s; inferior and light, £1 10s to £2 per ton (bags extra). Dalgety and Co. rqiort having held their rsual weekly sale of grain and produce at t-h.'.-.v M.cr-:s today, when they submitted a fairly representative catalogue to the usual attendance of buyers. Bidding for all clashes oi produce was poor, and prices ruled an under:— Oats.—The market is lifeless. While ihc local demand is only moderate, the export demand is eoßiined aJioo-t entirely to coastal ciders, and those are for thoroughly sound oat.--. Shipp-irs wid only buy to fulfil thtee orders, arid holders anxious to quit have diihculty m finding buyeis :;:. a further tcdnct;on on late valises. A large proportion of the o'its f>ii",--rii,g ;;.!>■ discolored and it>Jerior. for whicli there i.; ; radically no sale. Quotations :—Primo milling, is 5d to Is 6d; good to best feed. Is od to Is inferior and medium. lOd to Is 2d (sacks t-xtra).

Wheat- —Millers' purcliascs are confined to small line;; of choice Northern wheat, but are only buying <m a very limited scale. Medium quality has been" otTcring more freely, but meeting v.-iih only a moderate inquiry. Fo-.vl wheat is in fair demand locally, but. shippers' orders ara few, and this market k shghtly easier. Quotations: Prime milling, 4s -to 4s 2d ; good to best feed, 5s 6d to 5s lOd: inferior'ar.d medium. 2s 6d to 2s 9d.

.Potatoes.—During the week heavy supplies liave come forward, and the market has suffered a sharp dechne, sales having been mads at a reduction on last week's values varying from 5s to 10s per ton. Best l>-_rweiits v £3 7s 6d 1o £3 12s 6d ; medium, £5 to £3 ss-; others, £3 to £3 10s (bags in). CiiafT.—Only prime oaten sheaf "meets with any demand. Medium quality is in over-supply, and hard to quit. Prime oaten t-heaf, £3 to £5 2s 6d; medium, £2 10s to £2 15s; inferior and light, £1 10s to £2 ibaas extra). TRADE AT THE ZAMBESI. Jn a report, on the trade of the port of Chinde for the year 1902 Mr Best, Acting Vice-Consul, writes:—Ocean trade continues mainly in the hands of the German East Africa line, which at present defies competition by the number of its vessels, the regularity with which they call twice a month, and especially by the possession of a tender which renders the lino independent of the tides. The Kadett, of 31 tons, indicated horse-power SSO, has been specially built for caiTying passengers and their bag"gage across the bar fo the ocean steamer, in which they reach Europe without, further transhipment. She also makes frequent journeys to Beira towing large lighters. Such a tender is indispensable "to any line wishing to compete for the trade of Chinde. On September 20 the Vasna, 500 tons, of tlio British India Steam Navigation Company, Limited, paid her first visit to the port. The Vasna and her sister ship, the Vita, ply lx-*fcwe»m Mozambique and Delagoa Bay. and are intended to call at Chinde twice a month. Transhipment to the main hue for Aden and Port Elizabeth must be made at Beira. The Rennie line steamships have called once monthly during tho vear. The .African Lakes Corporation are agents for these two lines, as well as for Llovd's and the Admiraltv.