COMMERCIAL.

Lyttelton Times, Volume XXXVII, Issue 3566, 22 June 1872, Page 2

COMMERCIAL.

Lyttelton Timet Office, Friday Evening.

The inclement weather at the beginning of the week, caused almost a total stoppage of business for the time being, but a little better feeling has existed the last few days since the weather became more settled. Trade, however, is really dull in all branches, and as the month is now far advanced, purchasers are not inclined to increase transactions beyond sorting up with actual requirements. It is impossible to refer to any particular staple as being in special request j all lines are almost ■ equally dull. Stocks are getting well reduced, owing to the non-arrival of the Agamemnon, now out 108 days, consequently quotations ruling are fairly sustained. Galvanized iron has been sold at £4O, and as holders remain firm, the above figure is fully anticipated for the few small shipments on hand. Fencing wire is likewise realising extreme quotations, and any parcels coming to hand find a ready market at an advance of 20s all round; the higher numbers find the best support. A little enquiry has been made for currants at 4jd to sd. Oilman’s stores are particularly quiet. Sardines are scarce at 13s 9d for halves and 7s fid for quarters ; lobsters being in limited supply, 12s is freely given. Tasmanian jams continue to be placed, dn arrival, at 7s 3d up to 8s 3d, according to brand. Comsacka are inanimate, this market is heavily stocked, values remain almost nominal at 16s to 16s fid. Fine and coarse salt is not held largely, but the demand is limited and prices low, when compared with rates ruling in the neighbouring provinces. Hennessy’s pale brandy in bulk is scarce, and 7s fid to 7s 9d is promptly paid. We cannot report so favourably on case and other brands of bulk brandies; values obtained must prove unsatisfactory to exporters. Candles and kerosine meet with fair support, hut the extensive stocks held prevent any improvement. Sugars are much wanted, and it is now difficult to execute any orders coming forward for white crystals and pale yellows, and until the arrival of the new crops high figures are sure to rule. Choice congous are scarce at 2s to 2s 2d, in bond: medium and low teas range from Is lid to Is fid; Gunpowder tea is very saleable, medium qualities finding the best support. Kent hops are working oft but slowly at 2s 9d to 2s lOd ; Tasmanian hops have found a ready market; for extra choice samples 2s to 2s Id is quoted; inferior and faulty range from Is 3d to Is fid. A small shipment of prime pale English malt would find a ready outlet at 11s fid to 12s. Several ’parcels are offering, but the quality is veiy inferior. Breadstuffs during the past week have been quiet, and scarcely any wheat is now coming forward, although, at the same time, several outside orders have been withdrawn. Holders in store are demanding 4s 9d to 4s lOd for best samples, but the business doing is very limited in extent. Barley is wanted badly, and the few parcels offering have been picked up by the Dunedin houses at 5s 3d up to 5s 6d. A few small sales of milling oats are reported at 2s 3d f.0.b., and 2s in store is the market quotation. It is expected that the above rates will be maintained, as no additional supplies are coming forward. The millers are still very firm at £l3 for best town brands of flour, but the demand is limited to immediate consumption. Dairy produce, both butter and cheese, is firm; the former at 9d, and the latter 5d to Bid.

STOCK AND STATIONS. The transactions of the past week have been SO limited that they afford no basis upon which to found a report, and therefore little can be said, except that quotations must remain the same as last week. The telegraphic news via Suez is of a very unsatisfactory nature, pointing as it does to a decline of 4d per lb upon greasy wool; but until we receive further advices corroborating the news, it cannot be looked upon os reliable, Prices have certainly reached a limit when fluctuations must be looked for, but it is scarcely credible that an average fall to the extent mentioned can have taken place in such a short space of time. Should it turn. out, however, to be the case, it is only another proof of the errors even the best informed men are liable to make in tbeir predictions as to the wool market.

At the yards, on Wednesday, there was a good supply of sheep, but they were nearly all withdrawn, as the batchers did not appear inclined to bid up to owners’ values. We believe that the inclement state of the leather was the principal cause of this, coupled with the fact that most of the trade baa sufficient stock in band for the week’s requirements, and consequently we will not alter our quotations. ' We observe that the butchers have raised the price of mutton,

which will enable them to meet the expected rise in stock as the winter advances. The display of cattle at the yards on Wednesday was small, and the remarks we have made about sheep apply equally to cattle,: which we will allow, to sfcmd at last week • quotations.

Mr H. E. Alport reports that about 1200 sheep and 40 ; head of cattle were yarded, at the Carlton Yards on Wednesday, chiefly fat and good stores of both kinds. The weather was, nowovor,- very inclement, and very little business done, nearly every lot offered being withdrawn. The late news of a fall in wool in England has steadied our sheep market, and the tendency is downward. No change to report in cattle-

Messrs E. Mitchell and Co. report for the week ending Juno 21 ns follows ;—Live stock : Owing portly to the inclemency of the weather, and the fact that nearly all the butchers wore fully supplied last week, the transactions otj the yards on Wednesday may be said to be almost nominal. Most of the shoe and a lorge portion of the cattle were turned out unsold j however, wo look upon this as merely a temporary glut, and that prices will bo in no way affected by it. Fat cattle hove been selling better for the last few weeks at the West Coast, and there is little doubt but tho present prices will be upheld during the winter. At the same time, the price of wool and skins preclude all chance of sheep being lower this side of shearing. Wool and skins: At Mr R. Wilkin’s stores, on Thursday, we sold butchers’ green skins as follows : —On account of Lane Brothers, 3s Bd, 3s lOd, 6s 3d; W. G. Judge, 4s sd, -Is lOd; W. Bossiter, 3s sd, 6s 7d; G. Bull, 4s 4d, 5s ; Marcroft and Ayers, 3s 9d, ss; Garforth and Lee, 4s 4d, 6s Bd. Tho latter were heavy woo lied cross-breds. A largo lot of country butchers’ skins at full rates. Station skins', 3s 3d to 8s lOd 5 dried skins, 6id' to Bid per lb; small lot of wool, lOd to 10id per lb. The attendance was large,'and, considering the late news of a fall in the home market, the bidding was spirited.

Bird and Bennett report for the week ending the 21st instant Cattle: We have to report only a email supply at the Carlton Yards, amounting to about 40 head. There was not the usual attendance of buyers, and most of the cattle offered were withdrawn. Sheep: 1100 penned. Merino wethers, middling quality, brought 7s 6d ; a draft of half-bred, prime quality, were not sold by auction —the reserve price being 15s ; a few old store ewes fetched 3s fid. Horses : Business was rather quiet at Tattersall’s on- Saturday. Sound young horses, suitable for draught purposes, brought good prices, but for light weedy horses, biddings were not animated. We sold first-class draughts up to £44; medium draughts, £25 to £3O; good light harness horses and hacks, £l4 to £2O ; ordinary harness and saddle hocks, £7 to £l2; inferior, £3 and upwards.

Messrs H. Matson and Co. report on the live stock market as follov.-s:—Very little business has been done in the stock market during ‘the week, chiefly attributable to the inclemency of the weather. At the Carlton Yards, on Wednesday, only a few head of cattle were yarded, few of which were sold. In sheep, nearly the whole were withdrawn from auction, not many buyers being present. We sold privately a pen of fat Southdown ewes at 15s ; several pens of Merino from 7s 3d to 9s; 303 cross-bred ewes and wethers, from Oakley station, at 13s fid per head. The trade is pretty well supplied with good mutton for the present, and for a few weeks we do not anticipate much competition for this class of stock. Saturday’s Sales.—Very little was done on Saturday. We sold sheepskins as under :—Merino, from 3s to 3s sd; crOss-breds, from 4s fid, 6s 5d to 5s 9d each. Landed Property.—Wo sold Mr Jas. Millar's farm, near Southbridge, consisting of 136 acres of light land, to Mr John Mime, at £5 15s pm’ acre. Country Sales.—At our sale of livestock and farm implements, on account of Mr George Flitch, at Burnham Park, on Thursday last, there was a very large attendance ; the sale, on the whole, passed off satisfactorily. Sundries and farm implements sold at rather low prices, but live stock realised full rates. Merino ewes, very old and inferior, at 2s fid; better descriptions, from 6s to 7s Id per head; merino store wethers, 8s per head; rams, from 10s to 18s per head; horses, from £ls to £37 10s; colts, from £l2 to £l2 10s.

The Customs revenue collected to-day amounted to £365 14s Bd. The following were the items :—Wine, 40i gallons, £8 Is 7d ; spirits, 344 i gallons, £206 15n Id ; tea, 480 lbs, £l2; 55,000 palings, £55; 40,000 shingles, £4O; sawn timber’, 43,900 feet, £43 18s.

The traffic returns on the Canterbury railways for the month ending May 31 are published in a Provincial Gazette issued yesterday. The gross returns on the Lyttelton and Christchurch line amounted to £3936 Is 4d, as compared with £3463 9s 5d in May, 1871. The items were as follows: —Passengers, £648 5s 8d; season tickets, £l7 5s 61; parcels, &c., £54 11s 9d ; merchandise, £1049 13s 7d ; flax, £5 12s 9d ; coal, £441 15s fid ; timber, £324 2s 9d ; firewood, £74 Os 9d ; water, £2O 13s 4d ; wheat, £307 Is lid ; barley, £SO 4s; oats, £149 17s 3d ; flour, &c., £125 6s 9d; wool, £52 11s fid; wharfage, &c., £614 14s 4d. The gross returns for the Great south line amounted to £1591 11s 6d, as compared with £2007 14s fid in May, 1871. The items were as follows:—Passengers, £616 11s fid; season tickets, £4 Is; parcels, £3O ; merchandise, £203 2s lid; coals, &c., £7O 5s ; timber, £64 Os 4d ; wheat, £354 18a fid ; barley, £49 16s 4d; oats, £164 lls fid; wool, £2O 19s fid labour, Ac., £l3 4s lid. The returns on the Northern line amounted to £446 8s lid, as follows :—Passengers, £416 llslld ; season tickets, £2l 10s; parcels, £8 7s.

Oaiiaeu.—The Times of June 18 reports:— Best samples of milling wheat are worth 4s 9d; flour, £l3 to £l3 10s; barley, malting, 4s fid ; oats. Is fid to Is 8d; oatmeal, £l3 ; pollard, £4; bran, £2 10s. The Argus of June 1 says that it is the intention of the Bank of New Zealand shortly to open a branch in Melbourne for transaction of business connected with New Zealand, and for the sale and purchase of London exchange. The inspector of the bank, Mr David L. Murdoch, is now making preliminary arrangements, and we are informed that Mr T. M, Stewart, at present manager at the head office of the bank m Auckland, is to represent the institution in this city. The growing importance of the connexion between Victoria and New Zealand, no doubt, renders this step highly desirable, and we doubt not our merchants doing business with that colony will hail with satisfaction the opening of this branch of the Bank of New Zealand.