COMMERCIAL.

Lyttelton Times, Volume XXXIII, Issue 2930, 31 May 1870, Page 2

COMMERCIAL.

Lyttelton Times office, Monday Evening. Tbe Customs revenue collected at Christchurch and Lyttelton to-day amounted to £lsl 12s 7d. The following were the items : —Wine, 26J gals, £5 3s 2d ; spirits, 173 J gals, £lO4 3a 7d; tea, 1379 lbs, £34 9s 6d; drapery, 1 case, £2 13s 9d; 8 fire arms, £2; stationery, 1 case, 11s 6d; hardware, 2 cwt, 8s; sheet glass, 2 cases, 4s; light dues, £1 19s Id. The land sales to-day amounted to 20 acres, as follows : Lincoln district, 20 acres; realising £4O. Oamaeu.— The Times of May 27 reports : —During the last few days a large quantity of grain has been on offer, and we regret to have to state that wheat has suffered a decline of about 2d per bushel. Present quotation, 3s 4d. As we anticipated, the recent rains prove to have caused serious damage to grain in stack. Oats still remain at 2s ; barley in no demand, quotation (nominal) 3s ; flour, as last quoted, £lO 10s to £ll ; potatoes, £2 to £2 ss. Tqiabu.—The Herald of May 28 reports : —Commercially speaking, things have been very dull during the month, and the amount of business transacted has been very trifling indeed. There is a moderate import business doing, but country orders were not so heavy as were looked for. The produce market is completely stagnant, and prices are nominal. Buyers are generally disinclined to operate while advices from England and Australia continue so unfavourable to shipments. A cargo of grain, consisting of 4758 bushels of wheat, and 8028 bushels of oats, was forwarded to Melbourne yesterday by the brigantine Ottawa, but it is doubtful if the shippers will clear themselves by the transaction. A small quantity of grain, some 300 bags, was also exported to Dunedin by tbe Beautiful Star. There is a good deal of wheat offering, but some of it is of a very inferior quality, and buyers will not purchase the latter at any price. Oats may be quoted from Is 9d to 2s per bushel. Barley is dull of sale, and little enquired for. The millers are doing nothing in flour, except for local consumption. Large parcels might be readily obtained at £lO per ton. Coal is again almost out of stock, but the Layard is daily expected with a cargo. This, however, will be speedily absorbed, and a second cargo might be well placed. Timber of all kinds is very scarce, and numerous enquiries have been made for cargoes, but freights are dear and exceedingly scarce. The auction sales during the month have been few, and not of much importance. Moat of the stock offered has either been bought in or withdrawn. Tbe recent unfavourable advices from England regarding flax have had a depressing effect upon this industry, but sanguine hopes are still entertained that prices will shortly advance. In the stock market we hear of no sales of importance. Our boiling-down establishments are busily engaged in reducing sheep into tallow, and of this article there has been a very good shipment during the month.

BANK OF NEW SOUTH WALES. The thirty-ninth report of the directors of the Bank of New South Wales, to the halfyearly general meeting of the proprietors, held at the chief banking house, on Wednesday, the 27th day of April, 1870, is as follows The directors have the pleasure to place before the shareholders a statement of the assets and liabilities of the bank, on the Slat ult., duly certified by the Auditors’ report and declaration. The net profits for the half-year, after deducting rebate on current Bills, interest on deposits, providing for bad and doubtful debts, reducing valuation of bank premises, and paying taxes on note circulation, amount to £75,092 Os 6d, to which is to be added—undivided balance from last half-year, £4763 5s 4d ; giving for distribution, £79,855 5s lod ; which the directors recommend to be appropriated as follows To payment of dividend at the rate of 15 per cent, per annum, £76,000; to balance carried to “ profit and loss,” new account, £4855 5s 10d—£79,855 5s lOd. As the legislative authority for the bank’s note issue was originally given for a term of twenty-one years, which will expire on the 14th September, 1 87 i, the Board of directors have since the last half-yearly meeting found it necessary to apply to Parliament for a renewal thereof for a similar period. A bill for the purpose has passed both Houses of the Legislature, and now awaits the Royal assent. During the past half year a branch of the bank has been established at the Trunkey Creek Diggings, in the Bathurst district, 'ihe dividend will be payable at the head office to-raonow, and at the branches on receipt of advice. For and on behalf of the Board of Directors, —Thomas Walker, president. The following is the aggregate Balance-sheet of the bank of New South Wales, March 31, 187 k, including London branch to 31st December, 1869, and New Zealand branches to 7th March, 1870. £ s. d. To Bank stock 1,000,000 0 0 „ Reserve fund 333,333 6 8 „ Notes in circulation ... 618,221 0 0 „ Bills payable 2,057,029 18 9 „ Deposits and other liabilities 6,306,132 12 0 „ Profit and loss 101,063 10 1 £9,414,770 7 6

By Coin and ca*h balance* 1,286,09* 3 « .. Bullion in hand and in „ transit to London... 786,048 19 3 Government securities 381,206 0 6 „ Notes of other banks... 16.895 0 0 , Bank premises... ... I7a,ai/ a * „ Bills receivable, bills discounted, and other debts due t* the Bank ... ... 6,869,330 3 8 „ Insurance acoouot ... 2,182 18 9 £9,414,770 7 6 Profit and Loss, March 31, 1870. 1870, Mar. 31. £ ■ To Rebate (at current rates) on bills discounted not due at this date... 81,198 4 3 „ Dividend at the rate of 15 per cent, per annum ... ... 75,000 0 0 „ Balance carried to profit and loss, new account 4,868 8 10 £101,053 10 1 1869, Sept. 30. By Amount from last account... ... ••• 4,763 5 4 1870, Mar. 31. By Balance of half-year’s profits after providing for bad and doubtful debts, and including recoveries from debts previously written off as bad 96,290 4 9 £101,053 10 1