COMMERCIAL.

Lyttelton Times, Volume XXXI, Issue 2591, 26 April 1869, Page 2

COMMERCIAL.

The agricultural statistics of the County of Westland have been published. The extent of land broken up, but not under crop, is 93 acres. No wheat was sown. The land under oats amounted to 25 acres, estimated to yield 1135 bushels, or an average of 45 bushels to the acre. Only one acre of barley was sown, estimated to yield 20 bushels; 55 acres were in hay, estimated to yield 92 tons; 379 acres, including the land in hay, were in permanent artificial grass; 178 acres were in potatoes, but no estimated yield is given; 1010 acres were in crops not specified. These statistics appear to have been very carelessly collected, as will be evident from the fact that the acreage in crops 11 not specified” is considerably more than the acreage accounted for. Taking the population of the County of Westland at 17,000, it appears that they will have to import equal to 136,000 bushels of wheat. In the manifest of the Tararua—from Melbourne for Otago on April 14—as published in the Argus of April 15, we note the items 65 bales cornsacks, and 150 bags flour. An Adelaide telegram dated April 14, and published in the Argus of April 15 is as follows : —“ A private telegram was shown on Change to-day. It is dated London, 16th March, and quotes wheat at 465. Its correctness is generally doubted.”

Melbourne. —The Argus ot April 15 reports In the import market little business of a special nature has transpired, the immediate effect on the markets of the announcement of the approach of the mail bavins; been to cause a suspension of trade for the time being. Breadstuffs arc exceedingly inactive, and no sales can be effected un’e-s at a further decline on late rates, floor is nominally quoted at £l3 10s. No .-al'-s have come under our notice. Wheat cannot be quoted over 5s Cd to 5s 7(1 for best samples ; the millers are offering to pur-cha.-e at 5s 3d to 5s fid. By auction a parcel of Oipps Land wheat was sold at 5s 5d to 5s 7-1. Maize continues to be quoted at 5s ; but, there is little doing in the market. Feeding oats are neglected at our quotations of 3s 101 l to 4s. Seed oats, however, are in brisk demand at 4s 3d for prime samples. Under tin-hammer the Bella Rose’s cargo of Natal sugars was disposed of at very extreme rates, prices which establish an advance of 20s on must descriptions ; 3224 bags were offered, ami the whole found buyers ; 27s was obtained for low rations ; 3!)s for middling yel:ows. and 40s 3d to 42s for good yellow to low white. The damaged portion of the Mi!. -las cargo will he offered to-morrow. About ] Coo packages of gunpowder and S. O. pekoes ex Maud Helen, were quitted at from Is opl to Is BJd. The advices to hand regarding kerosene oil have caused considerable excitement; in fact, throughout the whole of the day no sellers could he met with, at anything like reasonable price-, or to suit the views of buyers, and the only actual sale which we could hear of was of a line of 7''oo cases of mixed brands, which changed bands at an advance on late rates. It has also transpired that the quantity disposed of last week, on speculation, amounted to close on 30,000 cases. By private telegram from Adelaide, we learn that, in New York, " Kerosene continues steadily advancing, and packers of oil find an inquiry for Lii.-ope a d South America fully up to their ability to fill. To Australia but a limited amount is going forward, The general impn - -ion is, .hat a further rise will take place.

Quotations hare risen from 48c to 60c. 11,000 cases shipping to Melbourne, mentioned in Bth February circular.” Sales of woolpacks are reported at 4s. In liquids, we hear of Blood’s stout being quitted freely at 9s 6d. Arrol’s ale has also been placed at 9s. kartell’s brandy has been freely disposed of, of late, at 23s 6d, and holders now intimate having raised the price to 245. Otard’s brandy, in case, has also been sold at an advance. Private telegrams regarding Calcutta produce state that no rice had left for the colonies during the month for Australia.

The Argus of the same date has received from Messrs J. C. Robertson and Co. the following tea and general report from China. It is dated Hong Kong, March 8 There is little trade worth notice. Black teas are in limited demand. Greens in demand. The export for the season to America is completed, and the last ships sailed. There is nothing doing at Amoy. There is a quiet steady business in Oolongs. The prices are hardening, with a small stock firmly held. At Foochow there is nothing doing. At Shanghai the settlements are moderate, and the prices, though irregular, show a decline of about one tael. The Thomas Edwards sailed for Sydney, February 28, from Foo-Chow. The Lucie sailed from Batavia, March 9, for Melbourne ; and the Western Star, for Sydney. Loading for Sydney—The Duke of Newcastle, Louise, and Fanny Nicholson. Wheat is held in large stocks, and is likely to be exported to Mauritius.

The following grass seeds, &c., report appears in the Argus of April 16 : —Mr A. Lincolne reports—The demand for small seeds continues, and the prices at last quotations are very firm. Seed grains are scarcer than they have been for years at this season, and holders are standing out for long figures. Seed oats particularly are slowly coming forward, in consequence of the failure of this crop in those districts usually growing this grain. Perennial rye and prairie grass seed are still from 7s to 9s ; W. clover, Is 6d ; lucerne and cow grass, Is 4d. Rye is in demand for distillation purposes, and 5s 3d is offered for large lots. Rape is being sown largely, and is worth 6d. Inquiries are already being made for hop sets, and there is no doubt that the culture of this plant will be largely entered into this season. The price at Tasmania is 25s per 1000. Tobacco leaf is not inquired for, although good leaf in small parcels would realise lod per lb. Manures—Bone dust, £6 10s ; phosphoric potash manure, £6 10s; Malden Island guano, £7 6s. Bags given in. The following produce quotations are from the Argus market reports, dated April 15 : Flour, Victorian, silk dressed, from £l3 5s to £l3 15s per ton; maize, 4s lod per bushel bags charged Is each ; wheat, milling, 6s 5d to 5s lid per bushel; do, seed, 6s 6d do ; do, feeding samples, 5s to 6s Id do; barley, malting, 5s 6d to 5s lOd do ; do, feeding, 4s Id do ; do, Cape, 4s 3d to 4s 4d do; oats, feed, 3s 8d to 4s Id do ; do, seed, 4s 2d to 4s 4d do, medium to prime ; rye, 5s 3d do ; tares, 7s 6d to 8s 6d do ; peas, white, 5s do; do, grey, 5s to 5s 3d do ; grass seed, perennial, 7s to 8s do ; do, prairie, 5s 9d to 6s 6d do; timothy seed, 3d per lb ; bran, Is 7d per bushel, bags in ; pollard, Is 8d to Is 9d do ; potatoes, £6 5s to £6 10s per ton ; bacon, 7jd to lOd per lb, medium to very good ; do inferior and damaged, 4d to 7d do ; hams, 9{d do, no sales ; cheese, 7jd to 9£d do, medium.to very prime. No change to report in potted butter, and the same remark applies to cheese. The following wool and station produce reports, dated April 14, are from the Argus of April 15 Messrs R. Goldsbrough and Co. report : —“ Wool—Our sale held this day was fairly attended, and out of a catalogue of 120 bales, we sold 109 bales, at following rates : —Greasy, 5d to7fd; slipe and inferior, scoured, B£d to 12|d ; and fleece at 13d per pound. The telegram published in this day’s Argus, reporting a decline of 2d per lb at the March sales in London, has had a slightly depressing effect, although it is not generally credited to the full extent. Sheepskins—We sold a large quantity at following rates, say, Pelts, id to 3d per lb, and 12d to I3Jd each ; full woolled skins, 3Jd to 7jd per lb; and washed skins, B|d per lb. Hides—Our sales are at from 4d to 4jd per lb for wet salted. Tallow—We have sold several parcels at £33 for beef, £34 5s to £35 for mixed, and £35 to £36 10s for mutton. Messrs Hastings Cuningham and Co. report:—Sheepskins— There was a large quantity sold at our sale this morqing, at prices which fully maintain late quotations. Dry station skins brought from sJjd to 6|d per lb ; washed skins, 7Jd per lb ; short-woolled skins, 2d per lb ; loose skins, from 3s 9d to 3s lid each; woolled pelts, from 18d*to 2s 3|d each ; lambs’ pelts, from 2d to 7d each ; and lambskins from 12d to 20d each. Hides—We had good competition for the lots sold, and prices ranged from 21s to 25s for heavy weights, and from 9s 6d to 16s for light weights. Calfskins from 3d to 4J per lb. Tallow is in demand, and the market has an upward tendency. Our sales were at from £35 5s to £35 15s per ton for mutton, and £32 2s 6d for mixed. Goatskins brought 4s per dozen for an inferior sample. Bones and horns fetched full market rates, and we note keen competition amongst the buyers for any lots that have been well cared for.”

The following live stock report, dated April 14, appears in the Argus of April 15: — Fat Cattle.—llo2 were offered to-day, all of which were cleared out at rates fully sustaining last quotations. There was a large attendance of the town and country trade, and as the quality ranged chiefly from good to prime, sales were readily effected. Best bullocks sold at from £l2 to £l3 10s ; second quality do, £8 10s to £lO 10s ; others, from 5s upwards ; best cows, £8 10s to £9 155.; second quality do, £6 10s to £7 10s ; others, from £4 10s. Fat calves.—s 9, chiefly of good quality ; they sold readily at from 45s to 56s for best heavy ; middling, 25s to 35s ; others, from 11s 6d. Messrs Dal. Campbell and Co. sold 15 at from 30s to 555. Fat Sheep.—l 4,922 were penned, only a small proportion being prime. For the classes suited to the requirements of the trade there was an advance on last quotations of fully Is per head, but for inferior descriptions the demand was slack, and graziers were enabled to operate. Best wethers, crossbred, sold from 17s to 21s ; prime merino wethers, I4s to 15s ; second quality do, 10s to 12s ; middling and inferior, from ss. Prime heavy crossbred ewes, up to 27s 6d ; best merino do, 8s 6d to 10s 6d ; others from 4s 6d. Fat Lambs.—ll2B came to hand, chiefly middling and inferior. Trade was dull, and prices declined from Is to Is 6d per head. A few very heavy cross-breds sold at 18s ; best merino, 9s 6d to 10s 6d ; middling do, 7s to 8s ; inferior do, from 3s. Horse Market.— Messrs Joshua Hughes and Co. report a considerable improvement in prices, and an increased demand for all kinds of useful stock. We quote first-class heavy draught horses at from £3O to £45. We sold this week, ending April 10, a small lot at quotations, averaging i. 34 round ; well-broken town hacks at from £25 to £35 ; horses fit for omnibus purposes at from £l4 upwards. A considerable demand still continues for the Indian market, and choice cattle up to the height fetched extreme rat s, whilst medium colts arc picked up very readily at from £6 to £lO, if in good condition, but it is nearly impossible to effect sales of horses of any kind in low condition. Weeds unsaleable at any price. The following agricultural report is from the Austnihisiini of April 17: —Those of the growers who have been holding (heir wheat for a rise will have cause (o regret it, as prices of both wheat and (lour are fast giving way. and (lie news (hat wheat is falling again in Kngland will not help to restore (he tone of the markets here. The large arrivals of oats last week rendered prices less firm, but most holders are disinclined to sell, believing that such large consignments cannot bo long continued. Maize lias risen still further, owing to the scarcity in this market, but it is falling in .Sydney, so (he scarcity here is not likely to last long. Barley is in good demand, but little of colonial growth is to be had. The hay market was readily cleared on Monday and yesterday, hut to-day the demand was slack, barge quantities are now sent down by rail, and (be Ballarat farmers are clamouring for additional (rucks, to enable them to send us down more. The news from Fmgland is not satisfactory with regard to our principal export. The first wool sales of the season commenced badly. The attendance was good, but there was little 1

competition, and at the very commencement there was a decline of from a hall-penny to a penny a pound on the closing prices of last year. This increased to twopence as the sales progressed, buyers being apparently alarmed at the large arrivals, These certainly are increasing in an astonishing manner, and we fear that the promises held out by the brokers at the close of last year are not to be realised. They then stated that the low prices, both of the raw and manufactured material, had so increased consumption that the manufacturers would eagerly buy up all that could possibly be sent to them this year; whereas, at the very first sale the market would appear to have been glutted. And with such a commencement, how were the sales likely to terminate, or what will be the opening price at the May sales, when the quantity offered is to be so vastly greater than it ever was before ? Wheat, too, was steadily declining in value, and a fall commencing so early in spring was likely to continue. The weather in England had been very bad, severe gales and high floods having caused much destruction of property. The rains have quite changed the face of the country here to a vivid green, grass springing everywhere in abundance. The feed is, of course, very soft and wateiy as yet, but there will soon be plenty of it, and every day will give it more substance. The farmers are making the most of their opportunity, and if they have but two or three weeks of fine weather now, a wide extent of wheat will be sown. It appears that a new industry of some importance has been opened up in South Australia. There is a species of flag growing densely along the coast of some parts of that colony, and it was long ago supposed that this might be turned to good account in the production of fibre for papeiMnaking purposes. Samples of the fibre were sent to England years ago, and favourably reported on, but little has been done in its preparation. A few months ago, however, Mr Mullett gave himself up entirely to the work, and, in applying steam machinery to the removal of the glutinous matter surrounding the fibre, he has discovered that the fibre is more particularly fit for rope-making, and is therefore nearly, if not quite, as valuable as hemp. If such proves to be the case, a large quantity may be prepared for market, as there are thousands of acres of this flag along the coast, and the yield, of the raw material we presume, is said to be three tons to the acre. Tasmania. —The Launceston Examiner of April 13 reports:—We have little to note since our last, business remaining quiet. There is a downward tendency in our breadstuffs market, in consequence of the depressing character of advices from the neighbouring colonies, and prices are likely to decline. At present we quote—Flour, £11; wheat, 4s 6d; oats, 3s; seed do, 3s 6d; potatoes, £4; English barley, 6s; Cape do, 4s; bran, £6; oatmeal, £22 to £24. According to Westgarth’s Circular, of date Feb. 26, the Canterbury debentures yet outstanding, or unconverted, are; Railway Loan, £43,600; Loan Ordinance, 1862, £61,600; in all, £105,200. The following is Mr Westgarth’s circular, dated London, Feb. 26: —The conversion and consolidation arrangements were concluded on 31st December last. lam favoured with the following particulars from the Crown agents. The total of the new consolidated stock issued by sale or conversion has been £4,191,100. The outstanding old stocks not converted are—General Government 6 per cents, (original total £1,650,000), £684,100, and 5 per cents. (£1,000,000), £668,200; Provincial Government 6,7, 8 and 10 per cents. (£2,192,650), £545,300. These amounts, together with two Imperial guar rantee loans of 1856 and 1867, £500,000 each, make the total outstanding debenture debt of the colony £6,988,700. Of {Ms amount, £3,067,000 is the Provincial debt, guaranteed by the colony to the creditors, but for wMch the provinces are also still liable. TMs amount of provincial debt includes the proportions for each province of the Imperial guaranteed loan of 1856, and also of the Loan Allocation, 1865 (connected with the native war), imposed on the provinces of the North Island. So far as can be estimated from data now available, the total debt of each province, including the above, and deducting sinking funds, loans paid off, &c., is as follows : Auckland £750,000, Taranaki £75,000, Hawke’s Bay £60,000, Wellington £165,000, Nelson £70,000, Marlborough, £22,000, Canterbury £775,000, Otago £680,000, Southland £470,000. A fair amount of business has been done in colonial securities during the month. Prices of Government debentures in most instances advanced from 1 to 2 per cent., but a partial relapse has occurred within the last ten days, owing to some little pressure of sales of Victoria, South Australia, and other government stocks, in anticipation of various farther loans. The long expected Victoria loan is, however, the only one that will appear for the present, and as the bonds have now arrived from the colony, its announcement is looked for next week. The New Zealand Consolidated 5 per cents, are still at the depressed price of 93{ —4, but there are considerable transactions in the stock, whiqh from its large and uniform amount, is now' one of the most marketable of the colonial securities. South Australian, after advancing Ito per cent., have had a partial relapse. The flnhness and high price of the Victoria stocks is favourable to the prospects of the new loan. The following is a summary of the changes in the prices of the various Government and other debentures since the date of the last circular, the 29th ultimo: New South Wales 5 per cents., due 1871—6, arel j per cent, higher, and the two loans by drawings are each J per cent, higher. The Victoria loans, after rising 1 per cent., have partially relapsed, but are still each { per cent, better. The Queensland loans are each 1 per cent, higher, and the South Australian about { to 1 per cent, higher. Tasmanian and New Zealand remain at about the previous quotations. In other debentures, there has been some demand for those of the Melbourne and Hobson’s Bay Railway, and the 6 per cents., due 1880, have advanced 1 per cent., while the 5 per cents, have advanced 2 per cent.

THE LONDON COLONIAL WOOL SALES.

(Mr Helmuth Schwartze’s Circular),

The London colonial wool sales commenced on Thursday, the 25th of February, with a catalogue in which the two leading descriptions of this series—Port Phillip and Adelaide were well represented. The quantities offered comprised 2503 bales Port Phillip, 2279 bales Adelaide, 30S bales Sydney, 63 bales New Zealand, and 427 bales Cape—total 5580 bales. As usual at this period of the year a large number of both home and foreign buyers attended, the competition was brisk, and prices, as compared with the closiug rates of Novembcr-Dcecmber series, for fair Port Phillip fleece and for fair Adelaide ■>rcase, were rather in favour of buyers. Of Capos there was but a poor selection, but as far as the sale of a few hundred bales offers a criterion the prices paid were very firm. A confident tone seems to prevail generally among the trade. The arrivals in time for tins series comprise—Port Philip, 49,283 bales; Cape, 23,817 bales; Sydne3 r , 12,874 bales ; Van Diemen's Land,3Bß l aics ; Adelaide, 28,573 bales ; New Zealand, 159! bales; Swan River, 797 bales—total, 117,340 bales ; and about 15,000 bales were held over from former series ; the total to be offered is, therefore, about 132,340 bales.