COMMERCIAL.

Lyttelton Times, Volume LXXX, Issue 10108, 5 August 1893, Page 4

COMMERCIAL.

Lyttelton Times Office, Friday evening. The week jusb closing has not elicited any special feature in the import market. Business in all departments has been unmistakably characterised by an exceedingly dull tone. Of course after the deliveries of the 25th a quieter enquiry is expected, but the course of trade since then has brought forth nothing but grumbling. The retail traders are not over busy, and this dulBess, as a matter of course, has been reflected in the demands made upon distributors. Many causes have been advanced for the want of life noticeable, but the chief, we think, is to be found in the undoubtedly low prices current for one of our staple exports, viz., wheat. Much to the disappointment of speculators and holders, the course of English values has declined, and those who have purchased or held for a rise have, unfortunately, up to the present had occasion to regret their decision. From the farmers’ outlook the only redeeming feature 'is the current price of oats and potatoes, but as these are only a comparatively moderate factor, their compensating influence has not baen of such a character as to materially affect for the better the dulneaa prevailing. The low price of frozen mutton in London, too, has helped to intensify the dulnese, as the losses arising from this courco have been considerable, and have tended to restrict the operations of companies engaged in this particular industry. Keen competition has reduced the margin of profit to such a limit that it is not a matter for surprise that several companies have or will have to forego a dividend this year. At the same time it is a peculiar fact that trade has not for years back been in such a healthy etata financially. There have been few renewals for a long time back, while it can bo «aid cash payments at the customary datss hav3 come in with such unfailing regularity thefc it argues caution in buying and a prudent exercise of business care in the guiding cf transactions generally. This may b> satisfactory in one way, but the community would like to be able to see a greater activity than is foreshadowed by th.,3 approach of spring requirements and tha advent of our wool season. In goods the demand noticeably dwindled after the 25th; New arrivals of Ceylon teas continue to be offered, and samples of Indians to arrive by the Maori from Calcutta, duo in about fourteen days, will shortly be on the markqf. New China's are already obtainable in Australia, an i we may expect to see them available hors at any moment. The Maori, after ditjharging. here, returns with horses to,

Calcutta, and then reloads for New Zealand porta. The Botokino, it is understood, will follow a month later from the same place. Consignees per Pakeha are now receiving their goods. Sales er this vessel to land have been forced, bat in the present state of trade transactions have not been of an extensive nature. She bringsa large quantity of goods necessary for the spring demand, and the ensuing wpol season. Kerosene has not improved, and the anticipations that prices would continue to rule for the rest of the reason at the opening low level have not been falsified. Juno tobacco is in better supply, but stocks even yet fail to overtake orders. Cigars sell slowly. Boiled oil has been quitted at 2s lid. ton 3a 2d, according to quality. Castor is in'short supply, and. recent quittances have been at 3a to 8a Id. The race meeting shortly to be held should galvanize a little life into wines, spirits and bears. The enquiry at the moment for these goods shows, with all others, an absence of activity. Cement ia not heavily held, and prices are firmer. GRAIN AND PRODUCE. Heavy rain has fallen pretty well all over the country since we last wrote, but seeding operations have not been muoh. impeded. In the grain market the aspect of wheat has not altered. There is very little doing, and quotations remain nominally at 2a 7d to 2s lOd for mixed parcels. Chick samples command prices out of proportion with the value of sound wheat. Oats present a firm tone, and rates from appearances aro.likely to continue on the same level for the remainder of the season. Milling stand at 2s 2d to 2s 3d, stout feed 2a to 2a 2d, and other descriptions Is 10d to 2s, Barley.— We have nothing of any moment to notice in connection with this grain. Of prime there is none offering, and a few lots of medium sorts have alone been available. Prices are unchanged. Beans are still quoted at 3a to 3s Id, and Prussian Blue peaa 3s to 8s 3d. Feed sorts 2s 6d to 3a Bd. Flour. —Millers’ quotations remain at i£B for roller and £7 10a for stone.

Potatoes.— The market about the beginning of the week was a trifle easier, but since then it has recovered, and prices have now returned to previous quotations. Growers and holders demand 90s to 965, sacks included, f.o.b. Grass Seed.— Deiivarioi of Ryegrass have beau more frequent during the week. Farmers’ lots aio quoted at 2j 9d to 3j 3d. Town machine-dressed, 3s 9d to 4i. The large demand for cocksfoot for European shipment witbin the last two months has sensibly affected stocks, and prices have consequently still further firmed. Very little seed ia now in the Bays, the bulk of it having been delivered Farmers’ dressed, Bsa to 3sd; town machinedressed, 8-Jd to 4£d; clover seed, 6J-d to Sd according to sample. The quantity brought forward lately baa been considerable. Dairy Produce.— Butter 6d to Bd, with a weak demand; cheese, 3jd to 4d.