COMMERCIAL.

Lyttelton Times, Volume LXXII, Issue 8904, 21 September 1889, Page 4

COMMERCIAL.

■ Lyttelton Times Office, Friday Evening. The English mail, viA San Francisco, which left London on August 19, was delivered in town on Sept. 17. The detention in transit that took place in Wellington, has been the subject of comment inbusinesa circles, and the opinion is universally held that a little more attention should have been shown in the punctual forwarding of the mail to the southern districts. The advices received are not of a specially interesting character, being simply a reflex of those by the preceding steamer. The only item calling for special notice is the meeting of i Importers and others that had been held ; for the purpose of discussing a proposal to : reduce the discount on New Zealand flax I from 3f to 2\ per cent. A perusal of the report of the meeting, which has already appeared in our columns, will give aonie notion of how difficult a matter it is to remove from an old groove a custom which has existed since the initiation of toe trade. Why New Zealand fibre should have been placed on a different footing to other fibre has not been made clear, but now a move has been made, it only requires the urgent backing of the shippers on this side we think, to successfully place the business on a more satisfactory basis in this respect. In fencing wire we notice an advance of Ss per ton has been made, which, taken in connection with the existing high rates of freight, will make sales here at present values impossible without involving a loss. A reduction in steamer rates is advised, but as the quotation of 5s per ton ie small, shippers do not go into ecstasies over the concession. Cargo was not offering freely for this port, though it was more plentiful for the others. In goods, from advices we may look for a slightly firmer market for currants, elemes and sultanas, as the crop was reported as considerably less than that of the previous year. The figures stated show a decrease of 15 per cent in the currant and 25 per cent in the sultana crop. It will also be later in coming to market. Advices from New York are to August 17, and do not display much alteration in character from those of the previous mail. Rates of freight stood at the old price of 30 cents per foot. The Mary S. Amesvwas loading for Lyttelton and Auckland with despatch about the end of September, while the Concordia had been taken up for Dunedin. Kerosene was quoted slightly easier, though, as a matter of fact this will have no appreciable effect on values here, as stocks are more than ample and holders are pushing irrespective of cost. We learn that the dispute between the American barbed wire makers and the English and Continental manufacturers with reference to the patent rights and uniform prices was still unsettled, and that, the former were still shipping at the cutting quotations. In the meantime, consumers in New Zealand will reap the benefit in a reduced cost. In the other lines usually coming from that quarter not much change in quotations was apparent. Turpentine was the exception, a rapid rise having taken place, under which prices have been forced up to 47 and 48 cents. Easier rates, however, are shortly looked for. From San Francisco, under date August 22, we learn : that the wheat market was quiet at Idol ,35 cenie. Freight rates to the United . Kingdom and for orders were quoted at 82a 6d to 345. The cargo of the Anne Johnston, which cleared on July 6 for Sydney, consisted of 8140 bushels barley, bushels oats and 22,470 bushels wheat, and the cargo of the Winifred for Melbourne, cleared July 23,19,250 bushels barley and 24,362 bushels oats. The Andrew Welch, for Sydney, carried 42,933 bushels wheat and 12,880 bushels oats, while the Alexander M'Niel was loading for Sydney with a mixed cargo which embraced ( For some time past we have been shipping W 1 lots of wheat by steamer to the .Wet coast of South America. Within the uaet six months efforts have been made ptere to effect sales by direct charters of Vailing vessels, all of which, we regret to ,say, have not been carried to a successful ibsue. Under the circumstances, it is interesting to know what our San Francisco neighbours have been doing. The following, taken from the South American, ; wiliishow the development of their export trade* in that direction | “ Shippers are looking for a possible permanency of the demand from Brazil for : Amemtmn wheat. The history of the trade is- BOtha long one. The first recent order 1 for wheat was received here last October, ; when dffie German barque Ella Nicolai was loade<MpUowed a month later by the barque LapwinS. Nothing more was heard of the trade nfinil after the Ella Nicolai and the Lapwing arrived in Rio and discharged *h«r cargoes, when orders (came for more tart July the> ship. Eureka, which canAcarry 8000 tons tof wheat, was

five Teasels alrealdy despatched ace as follows: Centals. Value. Dole. Not. 11—Ella Nicolai t 19.990 32,984 21eo. B—Lapwing \... ... 24,871 38,385 June 12—Pairmoont '.... 36,607 49,420 June 22—Fred. P. Lite Shield ... 31,517 41,760 July 4—Louisiana ‘ ... ... 43,665 58,122 Totals .... ... 156,350 220,671 The continuance ofitais Brazilian demand is considered a mostl Encouraging feature for California. If, ;aa exporters believe, it is the result of new id tiling facilities, the enquiry ia likely to beiregular,” Wo would direct attention to the remark about the new “ mill bug facilities” at the end of the extract, lit is not a matter of belief, for, aaa fact, tin ay possess one of the largest and most complete milling plants in the world. In addition to the above, we would, commend to- the consideration of those interested th£rWportant fact that the steamer Gaelic, v.ih ioh left San Francisco on July 20 f«i>r China took over 16,000 barrels of flour. . The above assumes some, importance whett we consider that we have direct steam c< unmonication with China, and that the W easels engaged, if offered the business, w ould find it more profitable to carry floituc, &0., than dead Chinamen, scrap iron mad tea-lead to the Flowery Land. During the week we b ave to notice the arrival of the ship Auc)eland at Auckland from Sharpness, with ss. cargo of salt, a considerable portion of qnhich will, doubtless, find its way to tide port. We may shortly expect the Rudolph Josephy from Wellington, with the Lyit):elton portion of her cargo. In connection ■ with vessels, we may remark that coneidemble dissatisfaction has been expressed by importers recently at the delay in (doe discharge of the Ornsader, from Londo n. In the case of this vessel, the detention has been so flagrant that we are not i surprised that a protest of an energetic character should be made; We, as a rule, so ; pride ourselves upon the completeness of arrangements and quick despatch, that the case iu question comes upon us as a some mE tat unpleasant awakening. Sugars are low in stock, the bulk of the finer qualities having to be draws from (?laina makes. Teas have only been distributed in moderate volume dnringf the week, although importers are offering at favourable rates on cost. Woolsacks, ex the Cairntoul, have not, as a rule*. been placed in quantity. Importers this season find themselves on the wrong side of the hedge, and it is extremely difficult to give reliable quotations. The nuvrket at the moment is thoroughly disorgainised. Castor oil, ex the same ship, is mot so easily placed as it was a short time ago. In general goods business has beem extremely quiet, and sales have been .confined to limited dimensions. The bu aiding trade report an extremely quiet enquiry, and stocks of iron and timber are ;more than sufficient for requirements. In, wines and spirits the demand is quiet, and. not much improvement is looked for unitil the beginning of the month. The .enquiry for clovers has almost ceased.

grlin and produces. We have little to notice in connection with the grain market during :i&e week. Business has not improved either isa volume or prices, and transactions loaii'ly have been infrequent. The market; at the moment is best described as without life. Tuscan is quoted at 3a 5d to 3s 6dL(; Pearl, 3s Id to 3s 2dj Hunter’s, 3s. Sydney advices are anything but reassuring. Oats are unchanged, with only n limited trade passing. Milling, 2a 8d to 2a 9d; heavy feed, 2s 6d to 2s 8d; others sorts, 2s 5d to 2s 6d. Bariev.-— Transactions have beem few. Prime stands at 8a 9d to 3slod; Other* aorta continue difficult to place. Beans and Peas are very quiet*,the* only enquiry having been for sma|l- lota of superior quality of Prussian Blue 'peas. Fugue.—Millors quote JE9 for stone,, and £9 10s for roller. Potatoes stand at 60s to 65s at country stations. Recent telegrams from Sydney have slightly firmed the market, which had, if anything, a downward tendency. Grass Sbbd. —ln ryegrass only small lota are going into farmers’ hands' from merchants at 4s 6d to 4s 9d for town machine-dressed seed. Cocksfoot is quiet at 2|d to 3d for good farmers’ lots. Town dressed, B|d to 3# d. Dairy Produce. —Butter very dull at 4dto6d; cheese, 3dto4d.