COMMERCIAL.

Lyttelton Times, Volume LXVI, Issue 7926, 31 July 1886, Page 4

COMMERCIAL.

Lyttelton Times Office, Friday Evening. The English mail, via San Francisco, which left on June 17, was delivered in Christchurchon July 87. The advices of shipments of goods to the New Zealand ports continue, on the whole, satisfactory, showing that orders from this side are well controlled, and in harmony with the absorbing power. Business, generally, was reported as dull, although, as a compensation, there was observable an absence Of failures. In the iron industries, there was little improvement, and prices for the raw product and manufactured articles ruled low. A rather carious commentary on the working of trade has recently come to light in connection with the tenders for the construction of a large iron bridge in New South Wales. It will be remembered that some time ago tenders were called by the Government of that Colony for this bridge, the coat of which was estimated at considerably over £200,000. The designs and tenders of an American engineer and contractor were accepted for the work. It now transpires that the manufacture of the whole of the bridge has been sub-let -by the American firm to a Scotch company, who supply tbe steel portion, and to an English company, who undertake the ironwork. How this comes about, whether due to a fall iu prices or Other causes, is a problem worth speculating upon. New Tork advices are to June 23. Trade continued quiet, though it was hoped that when things had settled down after the recent labour strikes on improvement would manifest itse'f all round. Cargo offering for New Zealand was scarce, and no inducement was apparent to place vessels on thebeith. The only one up for loading was the barque Mary A. Greenwood, to sail about July S. Prices for general goods remained much on the same basis as those of the previous month. Kerosene was the exception, which showed a slight advance of 1 cent per gallon. The run of fish on the Columbia and other rivers has proved ezceedißgly light, and the present comparatively high rates ruling here will continue for some time in consequence. Alaska salmon will not be available until September. The American fruit crop on the wholo was a good and plentiful one, and priceß were expected to rule lower than last season. Calcutta advices to hand report the purchase of over 20CO bales comsacks, with delivery iu September, intended for the Cbristchurch market. Locally, trade during the week has been exceedingly quiet. The slightly better enquiry observable last week has disappeared, and the market for most lines is inanimate. Sales of new season teas have not improved in volume, the quantity placed lately beiag only moderate. Sugars of all grades move off slowly. In general goods, only a sorting up trade has been done, and no increased .activity can be looked for until the fourth of the month is over. Prices for many of the leading grocery lines at the moment run greatly in favour of buyers. Prices obtainable for goods by the wholesale houses just now, are bad enough, but they are wholesome compared with the rates at which many of the retailers are disposing of their wares. An insane desire seems to have seized the souls of many of them to do a cutting cash busisees, and goods, in the intense competition, aro being sold at rates which do not carry a legitimate profit. This class of business could be understood if it was confined to a few items, but when it is extended to the bulk of a stock, this policy must inevitably lead to a collapse in numerous instances, and the survival of the fittest.

What we have written is not an exaggerated pioture, but must he patent to everyone con. versant with the cost of merchandise, and the charges incidental to conducting a business. In iron goods there is'-.little chauge to notice. Galvanised iron stands at £2O to £2l. Aline of sheet lead has been placed to clear during the week at a piice withheld. There is not much doing in cement. A few sales of ground bark have been made to tanners lately. Fencing wire keeps very quiet, the enquiry for all numbers-being meagre. Wines and spirits present few fresh features, while the business passing is limtted. The aggregate for the month in this particular department does not total up as well aB was expected. The annual report of the New Zealand Shippiog Company has baen published previous to the meeting of shareholders. The result of the year's trading appears to be satisfactory, the amount standing to the credit of the profit and loss iccount being a good one. Although, perhaps, not so pleasant to shareholders, the proposal of the Directors not to declare a dividend, but to carry a large amount to the credit of the reserve fund and depreciation account, will no doubt commend itself to, and hase the approval of, the bulk of those interested. GRAIN AND PRODUCE. The grain market during the ; week has been marked by a greatly lessened enquiry compared with that of the previous. Orders from Australia having slackened considerably, besides a less active demand from interprovincial sources, has tended to contract aotual business. Prices, however, lor most of the lines are undisturbed, though for one or two the market may be said to be eusier in tone. Wheat.—Good Tuscan finds buyers at 4s Id to 4s 2d, and extra quality at up to 4s 3d. ( For seed purposes, this description seems to be much in favour this season. Best milling of other sorts commands 4s to 4s 2d; seconl quality ranges from 3s lOd to 4s. In the continued paucity of chick samples, this description still realises excellent prices compared with milling sorts. Oats.—The tone of the market is a shade easier. Holders are meeting buyers in the matter of rates, and paicels are offering at 2s 6d for milling kinds, and 2s 4d to 2s 4|d for good stout feed. Inferior lots are quoted at 2s Id to 2s 2d. Barley.—This cereal does not show any appreciable alteration. Best malting is quoted at 3a to 3s 3d, with a meagre demand. Feed sorts command 2s 3d to 2a Bd, but buyers do not care to give over 2s 6d, at about which rata most of the lots sold have been placed. Potatoes.—No change can be noted in the value of potatoes. A few lots have changed hands at 52s 6d to SSs at country stations. The formrr rate is the one at whioh moßt of the business has been done. The demand is wholly local and interprovincial, the prices ruling in the various intercolonial outlets precluding business. Grass Seed.—The demand for rye grass is fair, bnt not up to expectations. There are. buyers, however, for stock at 2s lOd to 3s 6d for farmers' rough seed; better quality, 43 to 4b 9d; extra quality and machine-dressed, up to 5s 3d. The week has produced only a limited enquiry for cocksfoot, and prices have in consequence received a check. The enquiry for lots for export coastwise has fallen off sensibly, and dealers are not inclined to purchase for speculative purposes. Quotations are nominally 4d to 4}d. according to quality of seed. In the present state of the market, buyers look to quality and weight of Beed, and only offer a proportionate price for cocksfoot that does not now come up to the requisite or recognised standard, i.e., quality and weight per bushel that will suit the English market in the event of a speculative buyer failing to find a market in Hew Zealand. Daiet Produce.—Bntter, 9d to lOd; cheese, 5d to 6Jd, according to size and quality; hams and bacon, 7d to 7}d in cloth. CUSTOMS REVENUE. The following Customs revenue -was collected yesterday:-Spirits, £123 2s 8d; cigars, £9 14s 8d: tobacco, £€B 5s ; wine, £22 19s lOd; tea, £7O 18s 84; sugar. £43 5s lOd; goods br weight. £73 17s 9d; ad valorem, £215; other duties, £6 3s; total, £652 7s 5d., The New Zealand Loan and Meecabtile Aciescy Company, Limited, report on the .Produoo Markets for the week ending July 30, as follows: Wool.—Priced catalogues of the opening night's sale are now to hand, and the advance reported by us at the time ia fully confirmed by the figures displayed. The best evidence of the altered tone of the market ia that afforded by the prices realised for lots withdrawn at previous sales. A parcel of cross-brad withdrawn in April on a bid of 6d 9Jd; another lot of cross-bred withdrawn at/yd ~ i O&?ir J rSlff7i& "reacSea 9Jd. Of course, it is not to be inferred'that our wools have advanced 2d to 3sd per lb. but these instances show that a substantial advance has been established. At our weekly skin auction, on Thursday last, we offered about 50 packages of this staple. Prices obtained fully support the remarks on the rise referred to in the foregoing paragraph, taking into consideration the smallness of lots and oddments of sorts. Greasy merino brought 4|d to 7d; greasy cross-bred, 4id to 7sd; greasy lambs, s}d to 6{d; scoured merino, 71d to 9d; do cross-bred. 7H to 9d ; locks, 3d to 4d. Sheepskins.—The continued fine weather has been favourable to fellmongers, and the accumulated stocks of the season's purchases are now rapidly working down, causing a steady demand to prevail. Thursday's tales were well attended. Prices were regular, and fully up to the levels of late rateß. We quitted 1461 skins at the following prices: -Bntohera' cross-breds, 3s 4d to 4s 7d; butchers' merinos, 2s 7d to3slod; factory skins, 3s lid, 4s 2d. 4s id; country skiaß, Is 8d to Ua 7d, Sis lOd to 3b lOd. Tallow and Fat.—The downward tendency has been arrested, and priceß are a shade higher. We quitted our lines at fd to lid. Hides. —These, were all cleared at former rates, but buyers complain of the generally light character of those brought forward. Wheat.—An improved tone has been noticeable Ihrouehout the week, and some shipping parcels have changed hands at up to 4s 3d f.o.b. for Tuscan, and 4s Id to 4s 2d for winter wheats. Medium wheats are not much enquired for, but holders ask 3s lOd to 4s. Chick-wheat is in good request at up to 3a 9d f.o.b. Broken wheat ia scarce, and commands 3s 6d ex store. Oats.—Except for seed requirements, the demand is slack, but holders are very firm in consequence of the advices, lately to hand from Melbourne and Adelaide, which indicate an early enquiry from these points. Prime milling is heid for lis 6d f.0.b.; stout feed, 2s sd; good long sorts, 2s Sd; thin and discoloured, 2s 2d. Buns are scarce, and command 2s 6d, ex store. Bablby.—Some feed parcels have changed hands for export ut 2s 4d to 2s 7d, and as stocks of malting have been relieved by shipments to London, we may anticipate an early improvement in the value of this cereal. Malting of good quality is nominally worth 3s Id to 3s 3d; medium, 2s 9dto2s lid; feed and milling, 2s 6d to 2s 7d. Beans and Peas are quite neglected, save a limited enquiry for Prusbian blues for seed purposes, at 4s to 4s 3d. Grass Seeds.—Cocksfoot meets with good enquiry, and several parcels have changed hands at full rates. We have effected sales at up to 4Jd, ex store, this price being obtained, however, for an exceptionally fine parcel. Byegrass has had more attraction, and sales have been effected at 5s to 5s 6d for machine-dressed; pome prime samples are .held for 5s 9d. Bcugh lots at 4s to 4s 6d are neglected. Daisy Produce.—Bntter is difficult to place at anything over 9d, the demand from Australia having almost entirely ceased. Similar remarks apply to cheese, at Sdfor large size, and 6d for loaf. Potatoes have a better outlook since the Sydney market has begun to move, but prices have not yet reached a point at whioh it would bt prudent to ship. Local quotations are 52s fid to 55s at country stations. Messrs H. Matson and Co report on Thursday's .Leeßton i.ive Stock sole aa follows: About 200 head of cattle, moderate entry of sheep and piss. Sheep Bold well, the recent improved demand being wall sustained, and values were on a level with last quotations. Fat half-bred wethers to 12s Id, a few extra heavy cross-bred wethers to 13s 3 1 , hoggets toss6d. Cattle also met with a fair demnnd. Fat steers to £6 15b, fat heifers to £6 10s, fat cows to £6, three-year-old steers in forward condition to £5 ss, yearlings to eighteen months (mixed sexes) to 30s, springers to £6 10s. Pigs.—A lighter supply than usual, and business not so brisk. Porkers, 10s to 16s; bacon pigs to 375; one line of good pigs to 40s. Our principal sales were on account of the follow, ing owners:—M. Moorhead, Mrs Lemon, E. B, Willis, W. Adams, Peter Chamberlain. J. Henry P. J. Henley. A. Greenwond, F. StubhjJ.Win. cheater, J. M''eod, M. Jones, Mrs Orow, J, Blaokley. J. Milner, E. Steggall, J. Young, J. Boyce, J. Book. J. Bradshaw. M. T&iss, A. K. Callaghan, J. Thomson, A. M'Kay, A. Faj, Carruthers, M'Clnre, W. Anderson, &. T. Jeffreys and others. Messrs Matson. Cox and report upon, the Live fct'-cfc Market for the week ending July 2 , as follows:—On Tuesdav at the AaTibmrton Yards we held our usual weekly sale of sheep, cattle, and pigs. The entiy orthednywa not a very large one, but the attendance of bayers was quite up to the average. In' * at sheep there was more than sufficient forlocal requiremtßts,andthe quality not being good en -ugh or freezing purposes, several lines bad to bo ya • In stores, however, a better demand exitud and every line was sold at improved values. 1 b « cattle market was very poorly represented, up prime fat coming forward, and what stores were yarded were in vory poor condition. Thefollowiog are the prices realised :—Fat cross-bred ewes, 8s to 8s sd; forward 2-tooth ewes and wethers, 8s 3d; small 2-tooth cross-bred ewes, 5s 4d; merino ewes in lamb, 4s; cross-bred lambs. 5s Id, 5s 3d, 5s 61; culls, 2s 6d. We also sold privately a good line of three-quarter fat cross-bred wethers at 9s 9d. Fat cattle, none came forward. Calves, lis. The National Mohtoaoe and Agency Com. pant op New Zealand, Limited, report on the live stock mirket for the week ending Friday, July 80, as follows:—At Addington, on Wednesday, July 28, 3720 oheep were yarded. Fat Sheep—The entry in this class was about an average one, and on the whole the quality was superior to what las been coming forward for the last two or thiee

weeks. The best lines were fairly competed for, and, helped by the operations of two or three buyers for export, realised prices equal to late rateß. Inferior sheep were very dull of sale, and Beveral lines were passed unsold. We quote best mutton. 2d to 2|d per lb; inferior and medium, lid to ljfd per lb. Best oross-bred wethers made 12s to 14s; good medium, 9s 6d to lis; light, 8a to 8s 6d; mixed sexes, prime, lis to lßs 9d; inferior and medium. 7s 6d, Bs, 9s to 10s. Fat crosß-bred ewes, prime, 10s 9d to 12s 8d; medium, 8s 6d to 10s; merino wethers, very prime heavy-weights. 12s 3d; prime, 9s 6dto 10s; medium, 7s to 8s ; inferior, 5s to 6s 6d. Store sheep —Very few came forward, and no business was transacted. Cattle. —260 head yarded. A small entry of fat cattle, of fairly good quality, met a tolerably brisk sale at prices slightly in advance of late rates. Best quality beef made fully 22s per 1001 b; medium, 19s to 20s per 1001 b • bullocks made from £6 to £8 10s; cows and hoifers, £4 15 3 to £8 ss. The market for store cattle still continues very dull, with no alteration in values, good forwaid-corditioned 3-yoar-old steers selling up to £5, younger ages and mixed sexes making from £3 to £3 10s. Pigs.-287 penned. Beally good bacon pigs still meet a fair sale at 3d per lb, or a shade over; but all other classes are dull of sale, and hard to quit at low prices. The New Zealand Farmebs* Co-operative Association of Canieeburt, Limited, report for the week ending Friday, July 30, 1886: me grain market, during the past week, has been devoid of animation, and transactions have been limited. About 50H0 Backs of wheat have been taken up for export, and this, together with the impression that stocks are barely sufficient for our own requirement s up to next harvest, has tended to make the wheat market rather firmer. Oats have not been dealt in to any extent; buyers require a concession on late rates, wbicb holders do not feel inclined to make. Barley.—Business nominal. Beans and peas remain firm at last quotations. Byegrass.—Quantity offering limited, and prices have an upward tendency. Cocksfoot is moving off freely for spring requirements, and really good samples are worth 4id. Butter Bhows no improvement, but cheese is in demand at quotations. Potatoes. - Buyers have secured several small lines during the week at 52s 6d, but growers generally are firm at 555, country stations. The following are our quotations, beiDg prices paid to farmers, and not applicable to line 3 ex warehouse, sacks in all cases extra:—Wheat—Tuscan and Velvet, 4s Id to 4s 3d; Hunter's, 4s to 4s lid; shrivelled, Id to 2d under; seconds, 3s 6d to Ss 7d, f.o.b. Oats—Milling and short bright feed, 2s 5Jd; Danish and Dun, 2s 4d to 2s 5d f.o.b. Barley —Prime malting. 3s to 3s Id; medium, 2s 8d to 2s lOd; fe-id, 2s 5d to 2s 7d. Peas - Blue Prussian. 4s to 4s Id; seed lots, 4s 6d; Black-eyed Susan and Partridge do, 3s 6d to 3s 9d ; ordinary, 3s 3d. Beans—3s Id to 8s 2d. Byegrass - Farmers' parcels, 3s 6d to 4s 9d ; machine-dressed, 5s to 5s 6d. to 4£d. Butter-9d, nominal. Cheese—6d to 6&d. Potatoes-52s 6d to 55s at country stations. * Messrs Bennetts Bros, report on the live stock markets for the week ending Thursday, July 29, as follows:—Kespecting live stock and matters agricultural, the continued fine weather of the past week has been about the best item of news to be thankful for, but beyond the usual requirements of fat Btock. a littlo more enquiry is apparent for store sheep, and values are slowly recovering. To speak more particularly of our own market at Addington, there were on Wednesday yarded 8720 sheep, 260 head of cattle, and 2*7 pigs, an entry below the average. The supply of fat sheep was of varied quality, but on the whole good ; the demand was not entirely local, and, taking the sale throughout, late values were maintained. The best of the cross bred wethers sold at from lis to 14s; medium wethers from 8s 6d to 10s. There were some heavy ewes on offer, and prices ranged at from 8s to 13s 3d. Some magnificent merino wethera reached as high as 12s 3d; other lines from 7s upwards, the day's values revolving round 2i per lb—some hiirher, some lower. All the store sheep in the market were yarded by ourselves, and, with the exception -of a pen of lambs, we quitted the whole entry, *»hu-h consisted of crossbred ewes in lamb, at 5s per head. During the day we also placed a line of croES-bred wethers, which were not brought into the yards, at 8s per head. The entry of fat cattle on Wednesday was but a light one, principally «f good quality. The demand was mure than sufficient to absorb all that was offering, and Values, consequently, hardened. Steers sold at from £5 5s to £8 10s, heifers from £4 17s 6d to £6 ss, being from 19s to 22s per 1001 b, according to quality. In the store cattle market a nice line of forward-conditioned steers and heifers were offering; £5 per head was paid for aline of three-year-old steers, £3 5s for smaller sorts, and heifers at £2 13s 6d and £3 7a 6d. Beyond these only a few odd lots were put through. The pig market was well supplied, the baooners were principally of the lighter sorts, the demand for all kinds not being very keen. Bacon pigs sold at from 25s to 43a ; porkeis from 16s to 21s. Our entries for the day were on account of Messrs W. Hampton, J. Berry, J. Hayten, 8. Murphy, H. Bennetts, W. H, Bnle, B. Gahagan, J. Ferruson, F. Candy, Fy" Gerkin, W. B. Clarksoi', J. Gerkim --&. Bennett, A. Nicholl, J.- Frost. ley. W. Lewin, J. Smith, A, Bennetts, and others. Sheepskins, Hidj&y£ , at,Tallow, &c At our yards, on we held our usual weekly sale of the aboy&j'submitting an exceptionally heavy attended in good force, and we njiatted all lots at values about on, a par with last,'week's values, but in more than one instance w,£ topped anything recorded this season. Butchers' crosx-breds eold as under, viz., nt 3s lOd, 3£,-ild, 4s, 4s 2d, 4s 3d, 4s 4d, 4s 6d, 4s Bd, and for 'one line 5s each was paid; butchers" merinos sold at 2s 6d, 2s Bd, 2s lOd, 3s. 3s 2d, 3s sd, 3s 6d. 3s Bd, 3s 10 d and 4s; country skins sold at from 9d to 3s each. Our entryof fat w«s a heavy one. We quitted lines of butchers' rough fat. at Jd, I d and Hd per lb; rendered fat, at Hd and ljd per lb, the latter prioe being at the rate of 16s 4d per cwt, thus showing an improved tone in this market. We sold hides as follows: —601 b and upwards, at 4d per lb; from 501 bto 591 b, 3id; under 501 b, at 3d per lb, all for immediate delivery, land Sale.— As previously reported, we sold by public auction in our rooms on Saturday last, the subdivided farm of Mr Charles Dunford. Tai Tapu, prices ranging at from £3O to £45 per acre. Total sale, £1153 9s.