COMMERCIAL SUMMARY.

Lyttelton Times, Volume LXI, Issue 7222, 23 April 1884, Page 1 (Supplement)

COMMERCIAL SUMMARY.

Lyttelton Times office, Tuesday Evening.

When we last wrote business in nearly every department was characterised by a want of animation. Since then we regret we are unable to report any improvement generally. The great losses sustained by a large section of growers in the damage done to the grain by the continuously wet weather experienced during the harvest months, has no doubt had an appreciable effect in accentuating the prevailing dulness. The quiet tone felt is not confined to one or two branches only, but is equally true of all departments of commerce. The harvest returns having proved so disastrous, has made traders extra cautious in increasing their liabilities, and purchases, therefore, have been to a noticeable degree kept down to the lowest workable limits. The aggregate returns for the four weeks under, review are equally as disappointing in volume as those of the previous four. No easier feeling having displayed itself in the money market has also had the effect of restricting dealing and checking any undue speculative tendencies. Although dull, times are comparatively healthy, and current trading is carried through with good confidence. A stringent money market possesses the redeeming feature, that it begets a wholesome regard for extra care in conducting operations, and, judging from the infrequency lately of bankruptcies of any moment and the promptitude with which engagements and payments have been met during the month, its lessons have not been lost upon the mercantile community locally. Business in the grain market has not been over active. The outcry against the action of the Government in raising the railway tariff so as to catch the grain traffic has in no way abated, and has determined those who are able to hold not to thresh out, in the hope that the Ministry will be turned out on this question. The deficiency in the revenue, it is held, could have been raised from other sources, and not have partaken so much of a thoroughly class tax. It has also, to a certain extent, interfered with actual business up to the present, as with former rabes there is no doubt a more active tone would have been prevalent. With much of the wheat in its present condition, even the addition of a few pence per bushel means much. In the face of the weak market and low prices ruling at Home for wheat, the demand locally is decidedly dull, and buyers are most particular as to the soundness of the samples. For parcels answering to this description farmers are getting 3s 3d to 3s 4d, and for long-berried sorts up to 3s sd. For certain demands slightly damaged is selling at 2s to 2s 6d. An active enquiry exists for stout feed and milling oats. The quality of most shown this season is excellent. Bright stout feed are selling at 2s to 2s 2d, and milling at 2s 24d to 2s 3d, Good samples of barley are not so plentiful this year. Medium to best are quoted between 3a 6d to 4s. A tip-top lot would fetch a shade over the above. Last year shipments of cocksfoot began to take a position in our list of exports, and several parcels have already been shipped of this season’s growth. In goods the business of the month has not been up to the average. All classes of building materials do not show any improvement in values. The from the various yards indicate a paucity of contracts, and consequent slowness of demand. The arrival of grain vessels to load has thrown large quantities of coal on the market. Groceries do not call for lengthened notice, the business passing being of an unimportant character. Sales of course are being made to a certain extent, but there is an evident want of life.

Por wines and spirits, the late Easter holidays created a temporarily bettor enquiry. Tho demand has now, however, subsided* Malt liquors of boat brands have had some attention, and considerable parcels have been taken Shipments for some time have been more in accordance with our requirements, hence the freedom with which invoices have recently been dealt with. That shipments of all kinds of merchandise for some time past havo been moi e in accord with tho consuming power, is evidenced by tho falling off in the revenue returns. As competition, however is so exceedingly keen, importers have not been able to generally obtain a corresponding advance in prices, which in numberless instances rule in favour of buyers. The wool season may now be said to bo closed, and tho few clips remaining to be shipped come from the back country rims. The other wool that goes forward in tho off season is drawn from the wool scourers. The local auction wool sales have finished, and tho results of tho senes of the season may bo considered successful, considering tho uninviting state of the Home markets. A number of vessels have left witn Brain cargoes, and several are engaged in loading, but the despatch this season is not so expeditious as usual, owing to the

various causes already recited. Wheat rates have been fixed at 37s 6d by sailing vessels,but steamers are carrying nt the same money plus the addition five per cent primage.

The aspect of the money market has in no way altered. Discount and overdraft accommodation are held well in hand by tiro various monetary institutions. For mortgage purposes the market continues well supplied, and loans can be obtained at 74 per cent to 8 per cent, according to the amount and nature of the security. Exchanges have altered in sympathy with the recent movements of money at Home, Malt Liquors.— The Easter holidays, combined with the last fortnight’s almost Summer weather, brought about a better enquiry for bottled ale and stout. Stocks of both of best brands have not been largely held, but the market has been replenished by late arrivals. Bass’, of wellknown brands, has been, taken at 12s to 12s 6d for quarts, and 7s 9d to 8s 3d for pints. Other bottlers have been placed at 11s to 12s, and 7s and 8s for quarts and pints respectively. A good trade has been done in Guinness’ Stout at current prices. Bulk beer has not shown any special enquiry. '

Hops. —More attention is now being paid to these with the approach of our winter season. English are quoted at 2s to 2a Gd. The divergence existing as to prices between the Colonial growers this year and buyers has not yet been settled, but it is anticipated that the latter will have to advance their offers considerably. Jute Goods. —We have to report a slack enquiry at the moment for comsacks, while there is nothing doing in woolpacks. The sales transpiring are simply woolscourers’ lots. Building Materials. —For these no appreciable change can be noted in prices. A few invoices of galvanised iron have changed hands, ex recent arrivals, at our quotations. Cement ex ship has been taken in quantity at 12s 6d. There is at the moment a famine in standard iron, and orders in hand cannot be executed for want of stocks. Sheet lead and wire nails move at prices in favour of buyers. Fencing wire continues dull of sale, but the demand should improve as the winter, when most of the work is done, is fast approaching. Barb wire is being forced at rates which display a great drop in prices. Paints .and Oils.— No improvement is noticeable in raw or boiled oils. Cod has been cleared out of first hands. A few transactions have taken place in bulk olive. Low test kerosene has been offered from outside sources at low prices without leading to much business. High test of best brands is freely taken at 2s to 2s Id. Castor in bulk is without much enquiry. The season for lard oil has passed. In Groceries the business passing does not call for lengthened notice. Transactions generally have been of a sorting up character. Teas of medium to good grades, both in half-chests and boxes, have had fair notice. There is not much to note in connection with sugars. Failing stocks of cut loaf, quittances of loaf have been made during the week. The higher price for butter now obtainable has had the effect of increasing the enquiry for syrup. Imported candles fully maintain the advanced rates. Purchases of Colonial have lately been considerable,. Tobaccos, both dark and light, to arrive, have been sold in quantity. The latter descriptions show more appreciably the increased cost in quotations. Coarse salt is not in over supply, and the late transactions have been at a slightly advanced figure. Stocks of fine are fully up to requirements. Soda crystals and whiting are unchanged. The smaller lines of groceries have had a meagre business. Dried fruits of all classes are without change. Currants are readily saleable, the market not being over supplied. The demand for cocoas has improved. Y. H. has been rather short, but invoices are close to hand by steamer. Tinned fish has been only moderately asked for.

Invoices of resin to arrive have been placed at satisfactory prices. Sausage casings have been freely taken up to 2s, but packers’ prices at Home and in the States show no reduction in cost. Stocks of ground bark are low, and parcels to arrive have been sold at .£9 10s to £9 15s. There is yet no sign of an enquiry for bluestone, but this should shortly set in with the sowing season. Sales lately have been chiefly for foot-rot purposes. The same cause has brought about liberal quittances of arsenic, the wet season having affected many of the flocks to a large degree. Dipping material has also passed into use in quantity, the demand chiefly running on Little’s, Jeye’s, and Tomlinson and Hayward’s. Lump silicate has been wanted, and stocks are low.

Wines and Spirits. —The slight activity noticeable in liquors previous to the holiday season, has slackened; Although quittances of whisky and brandy have been made, we cannot report any improvement in rates. The market still continues to he burdened, both with case and bulk of the former. Sherries and ports do not call for special mention. The enquiry at the moment is slow. The season for clarets and champagnes has been a most disappointing one to importers. The same may truthfully be said of the various brands of imported cordials. [For our usual Christchurch Wholesale .Prices Current see page 2 of the Lyttelton Times.']

CHRISTCHURCH RETAIL PRICES. Tuesday, April 23. Fresh Butter Is l>er lb Ec«g 2s per do* Cheese SdtolOdperlh £5 3JW£?ib Mutton Sd to 5d per lb Pork ?d Per lb Haw ... ■" Is per lb Bacon lOdporlb Lamb ... 3s6dtoSs6dpqr WHOLESALE PRODUCE PRICES. Tuesday, April 23. Barley (feed) 2s to 3s per bushel Barley malting) Sa 6d to 4s per bushel Beane : -&toSs 3d per bushel Butter Oito Dldper lb Cheese Sid to 4Jd per lb Fowls’wheat Is 3d to 2s per bus. j'l onr £9 10a per ton Hams and Bacon,in cloth... Bld to .Kl per lb Hama & Bacon, out of cloth 74d per lb Har £3 per ton Oats (feed) Oats (milling) 2s 3d to Jsdidiwr bus. Oats sheaf chaff 2-2 P® r , Oftt straw ~ ... .•* 10s jmjp tau Peas 8s to 3s 3d yor bushel Wheat (milling; sound) ... 3s Sd to 3s Mvorhus. Ryegrass seed (good) .•• •, ‘I s 1° 1 l“ l _ wi.-i Machine dressed do, nominal 4a to 4a -d pw bushe Tares ... 8s l )0r bushel Bran (sack, included) ... *3 10s to «P« ton Pollard (sacks included) ... A 3 10s to il per LIVE STOCK PRICES. Cattle. Two-year olds, £3 to £4 Three-year-old steers, £4to_£s l7s Do heifers, £3los to £5 Milch cows, £5 to £l3 Horses. Light Horses (unbroken)— Yearlings, £3 to £lO Two-year-olds, £5 to £lO Three-year-olds. £8 to £l7 Draught Horses (unbroken)— Yearlings, £8 to £lO Two-year-olds, £lO to £lB Three-year-olds, up to £2O Sound useful Hacks, £lO to £3O Carriage Horses, £2O to £4O LightHarnoss Horses, £• to £2O Draught Horses, £l7 to £2B j extra good, £SO

Sheep. Fat Merino Wethers, 12s to 14s 6d, for very prime Store Merino Wethers, sound mouthed, 6« 6a Store Cross-bred Uoggetts, 13s to 14s Prime fat Cross-bred wethers, 16s to 18s 3d ; crosebrcd ewes, lOsjto 12s Od GRAIN AND PRODUCE. Business in the grain market during the month was of much the same character as the previous. Notwithstanding the holidays, deliveries have been pretty free. The latest cablegrams from Home do not show any improvement in the London market. Wheat.—Sales of sound grain have been made at 3s 3d to 3s 4d, and Tuscan up to .'is sd. Considerable jtarcels of cold and damaged have also been taken at 2s 6d up to 3s 3d. Oats.—The market for good samples of both feed and milling continues active. The former is quoted at 2s Id to 2s 2d, and the latter at 2s 2|d to 2s 3d, all f.o.b. Lyttelton Barley.—There is no change in the barley market, values stand at .'is Cd to 4s, and for tip-top lots a shade more is obtainable. Flour.—There is a fair demand for flour of best brands, at £3 to £0 10s. Grass Seed.—The market for ryegrass is without life, and prices are without the slightest change. Cocksfoot has been largely taken at 3ld to 3 2d at Lyttelton. Dairy Propuce.—Butter, 9d to 9Jd ; cheese, 3Jd to 4d. Hams and bacon unchanged. LIVE STOCK MARKET. At the Addington Yards on April 16, largo supplies of fat and store sheep were yarded. There was a very fair attendance of buyers. Sheep.—Fat sheep were penned in large numbers. Prime cross-breds sold at from 16s Od to 18s Cd ; medium and good ditto brought from 14s to 15s 6d. Prices for merinos were somewhat lower, most lines selling at from 10s to 12s. We quote mutton at 21d per lb. A very heavy entry of stores came to hand. Cross-bred ewes sold at 10a Gd, 10s 9d, 11s 3d, 12s, and 13s 3d ; merino ditto, 4» 2d, 5s 6d, and 8s 3d ; cross-bred lambs brought 8s and 8s lOd. A line of about 800 merino wethers in forward condition realised 8s 9d, and a line of about 1400 merino ewes changed hands at 7s. The demand for most lines of store sheep was dull, especially so for cross-bred ewes, of which several lots were passed in. Cattle.— A large number of fat cattle were yarded. There was very little demand for any of the lots offered. Sales were effected with difficulty and at very low rates. We quote beef at from 17s to 18s per 1001 b. Pigs.—A numerous entry of pigs was penned, and all offered found purchasers at satisfactory prices. Porkers brought from 26s to 49s ; bacon pigs, 45s to 58s. SALE OF CROWN LANDS. Fifty-two lots of Crown lands (mostly quarteracre and half-a ere sections) being reserve 89, situate near Leithfield, close to the Kowai river, and about a mile from the sea, were submitted to public auction at the Land Office at noon on April 10, by Mr Kitson, Acting-Chief Surveyor. About twenty persons attended. Mr J. S. Woodhonse bought 11 half-acre sections at upset price—£7los per section—and two quarter-acres for £5 (upset). Mr C. E. Briggs was the purchaser of a half-acre section at £7 10s (upset). The wily lots for which there was any competition #ere SO, 51 and 52, which were cf much larger area than the others, and the upset price was £8 per acre. Lot 50, 5a Or 2p, fell to Mr Thomas H. James for £4B 12s 7d. Lot 51, 5a Or 2p, was taken, after a brisk competition between the purchaser and Mr James, by Mr John Watson for £6B 8s 7d j and Lot 52, 4a lr 31p, also fell to Mr Watson for £SO 0s Bd. The total amount realised by the sale was £267 Is lOd.

PROPERTY SALE AT ASHBURTON. Mr T. Bullock reports having held a sale at the Arcade on Saturday, April 19. of unimproved town sections, improved farms, and other properties. Although there was a large attendance, biddings were rather languid, except for one or two properties well situated. Out of a number offered, the following were sold Town properties.—T.S. 232 (unimproved), comer of Havelock and Cass streets, brought i.-s'j; T.S. 685, near the South-East Town Belt, fronting Cameron street, £SO. Suburban.— Lot 24, Trevorton, with two-roomed cottage erected thereon, part of E.S. 4949, £lsl. Bnral properties. —E.S. 23411, containing 84 acres, fenced and cultivated, fronting the sea beach (Longbsaeh Eoad District), £3 7s per acre; E.S. 3fK)44, containing 100 acres unimproved light land, (in the Upper Ashburton Eoad District), at £2 per acre. I have also sold privately an improved farm of 114 acres, being E.S. 22098, and part of 23319, near Tinwald (Longheach Eoad District), at £8 per acre; two-roomed cottage erected thereon, part of E.S. 4949, £152. T.S. ICO, Tinwald, £lB. Lots 66, 67, and 68, each containing lr 39p (Allenton Suburban. District), with four roomed house thereon, for £375. X have also leased a farm of 304 acres at Methven, at 10s per acre per annum rental.