COMMERCIAL.

Lyttelton Times, Volume LXXIII, Issue 9094, 3 May 1890, Page 4

COMMERCIAL.

Lyitelton Times Office, Friday Evening. The four days’ detention of the San Francisco mail on the Atlantic and American side was not fully made up in the run across of the steamer from San Francisco to Auckland. It was brought down from tho latter port, however, with praiseworthy despatch. Advices with reference to exports to New Zealand continue on a satisfactory level. Tho extended intelligence re iron shows a decidedly easier feeling, since more fully felt, and announced to us by cable. Iron bars display a fall equal to about 20s to 22a 6d. Boiled and raw linseed oils have advanced, and were quoted by makers at up 2a and Is Hd. For manufactured goods the business enquiry was reported to be steady at the quotations of the previous month. In caustic soda it will interest soap makers to know that a sudden advance had taken place in this article, and that tho market was in a very excited state. The rise is nofc_ a slight one, bub represents a substantial jump of JB3 7s 6d to <£3 10a per ton. As stocks locally are not heavy, wo may reasonably expect to see a corresponding advance here. If it does como about it will prove the exception to the rule, for we generally find that with us the extra cost does nob take effect until stocks are almost depleted. Such is the actual result of competition in this part of the world. We learn from private advices, and also from circulars, that manufacturers are apprehensive the present universal agitation for tho shortening of the hours of labour will have, by and by, an appreciable effect on the cost of goods. Of this fact there cannot be any doubt, bub seeing that the same influences are at work, even in a more violent form on tho Continent than in England, all will be ultimately placed on the same platform. To us, who have enjoyed the eight hours’ system for years, tho outcome of the struggle which is now agitating Europe is particularly interesting, and tho cablegrams of the next few days are looked forward to with an eagerness not often bestowed upon the messages from the Old Country. When we last wrote, wo alluded to the large profits made by the two Shipping Companies who at present control the carrying trade to ITew Zealand from London, By-,tho mail, the reduction of 2s 6d per ton, announced by the cable recently, is confirmed, bub tho reduction, we notice, does not apply to freights by the direct steamers. Seeing that cargo is not offering freely, and has to be pub in on steamers’ account, the distinction made is unaccountable. We suppose it must be putdowntoinnerworking of the tradewhich is not discernible by the outside public, bub the effect of which leaves ample ground for grumbling. It is undoubtedly a fortunate thing for the Province that in some lines tho export carrying not wholly controlled by tho two companies in question, and that wholesome competition, in this respect is possible. New York advices are to the end of March. Tho Nettie sailed for Wellington and Lyttelton on March 28. There were no other vessels on the berth, but a vessel, it was expected, would be put on to load in May or Juno. Suitably sized ships for the New Zealand trade were exceedingly scarce, one reason being the demand for vessels to load with ice down in Maine. Usually this commodity is exported direct from Now York, principally in good - sized vessels, but, owing to tho mild weather, this has been impossible, thereby creating an extra demand for smaller vessels to load in Maine. The fight between the lino of packets lately established between New Lork and Australia and those who previously had the business in tbeir hands goes on apace. Rates have been reduced to 15 to 16 cents, while for the closing cargo of a vessel that had been despatched previous to the departure of the mail 12 cents had been accepted. New Zealand consignees would doubtless like to

enjoy such a novel experience. The American local demand having subsided kerosene quotations ruled a trifle lower. These, however, will not affect prices locally, in addition to which stocks ami parcels to arrive will, it is anticipated, only carry the trade over the winter. Prices for the ordinary lines of Araericaii export products to this part of the world were unaltered. _ . Shipping matters in Lyttelton during the week have been of an exti’a busy complexion. In addition to the steamers, the loading of the vessels on the berth for London has proceeded vigorously. The cables re wheat display a more hopeful tone, which has been reflected in the local enquiry. Purchases lately have been on a more liberal scale. In oats, growers have not been tendering in quantity, and for undeniable lines of good stout quality the demand is well maintained. If freight were only obtainable at a concession on current quotations, we should see shipments to England of greater bulk. Beans are wanted for shipment to top off vessels, but growers are reluctant to accept prices tendered. We observe the Union Steamship Company, to replace the Tenterdeu, whose charter fell through, have secured the s.s. Colao for the Intercolonial Hade. Consignees by the Bella from Mauritius are pushing sugars, and considerable sales have transpired at a slight concession on the previous stock quotations. Fair sales of tea can be noted during the week, chiefly in low to medium grades. Kerosene ex the Western Belle has been delivered largely at prices not over satisfactory to importers. While writing of American goods we may note a large rise in the value of plaster in the United States, the advance representing some thirty cents per barrel. Cornsacks are now firmly held at 6s 9d to 7a. For the season of 1891 it may be noted that arrangements have already been made for the conveyance of the supplies. For Lyttelton the ships Minnyhive and Miltiades have been chartered |with dispatch from Calcutta in all September. In addition, it is understood the s.s. Cairntoul will be seat up from here in September, and will return from Calcutta about the end of October. Her cargo will likely be largely for the North Island demand. The recent course of Calcutta exchange on London has been eagerly watched by those interested, as the late rise in silver has influenced rates in a higher direction. The immediate cause of the disturbance of market rates has been the introduction of tho Indian Budget and the advance in silver. Tho market now is somewhat easier, hut until affairs are more determined contracts for next season’s supplies will bo held in abeyance. The deliveries of general goods have slackened off with the . advent of the present month, but a revival is locked for shortly. Tobaccos landing in aromatics have had fair sales. Notwithstanding tho hard prices quoted for boiled and raw linseed oil in England, holders, locally, have been pressing sales at 3s 3d to 3s 4d, without meeting much response. Cement at the moment is quiet. In liquors wemay notice Dog ala in quarts and pints is almost out of stock, and retailers have been forced to accept other brands. Port wine has been sold in trade lots. Taken altogether, however, the distributing business in liquors has not been over brisk.

GRAIN AND PRODUCE. The week has been productive of nothing fresh in the grain market. Sales locally continue fairly liberal, while the shipments on growers’ accounts goes on apace. English cables do not show any appreciative alteration in Home values. Locally, Tuscan is quoted at 2s lid to 3s, Pearl 2s 9d to 2s lOd, Hunter’s 2s 8d to 2s 9d. Oats. —The market, though quiet, is steady at la 7£d to la 8d for milling, Is 6d to Is 7d for stout feed, and Is 5d to Is 6d for light feed. Barley.—A few sales of best quality bave been made. Values remain at 3a to 3s 3d, the latter figure being for extra prime, of which there is little offering. Other descriptions, 2s 6d to 2s 9d, with a dragging enquiry. Beans and Peas. —The former stands at 2s 6d to 2a Bd, the chief outlet at present being for shipment to London. Prussian Blues 3s to 3s Id, feed sorts 2s fid to 2s 9d. Flour. —Millers of note £8 Ids for roller, with good enquiry. Grass Seed. —There is nothing doing in ryegrass. In cocksfoot the market continues slow at 2sd to 3|d, according to quality of seed. Dairy Produce. —Butter 6d to 7d, cheese, 2Jd to 3Jd. CUSTOMS REVENUE, The following is the revenue collected at the Customs, Christchurch, for the month

ending April 30, 1890: — £ s. d. Spirits, in bulk 3,561 3 6 „ in case 1,345 14 0 ,, perfumed 10 19 2 Cigars, cigarettes and snuff 565 0 8 Tobacco 2,353 9 9 Wine, sparkling 40 4 0 ,, Australian 105 4i 6 „ other kinds 418 0 8 Ale 243 4 6 Tea 3,060 14 0 Coffee, chicory, cocoa and chocolate 61 3 0 Sugar and treacle 573 12 9 Glucose 4 6 1 Goods by weight 1,052 19 O Ad valorem 4,817 13 8 Other duties 924 9 11 19,140 19 2 Primage 698 6 10 Total 19,839 6 0 Corresponding month, 1889 19,529 14 8 Beer duty, 1890 831 2 2 Beer duty, 1889 945 4 8