COMMERCIAL.

New Zealand Herald, Volume XIII, Issue 4485, 29 March 1876, Page 2

COMMERCIAL.

• Nsw Zealaotj Hekaxd Office, Tuesday evening. The Customs duties for to-day amounted to £1384 12s 6d. THE MEEWAN JEE FJRAMJEE. "We have received by this mail the particulars of cargo on board the ship Merwanjee Frainjee, which vessel having made a rapid passage from London, has been in port some days in advance of the same : —Plain cottons, £236 ; coloured cottons, £306 ; printed cottons, £444; woollens and worsteds, £517 ; flannels, £523 ;' linen in bales, £204; linen in cases, £401; cotton and iroollens, £783; muslins, £46; waterproof and indiarubber goods, £136; silk and velvets, £317 ; shawls and mantles, £74 ; millinery, £321 ; hosiery, £939; haberdashery, £1625; umbrellas, £101; cambric handkerchiefs, £10 ; apparel, *7000; blankets, £2411; carpets and rugs, £335; straw hats, £55 ; felt hats and caps, £734; dressed leather, £327; wrought leather, £716; sheathing felt, J- 2573 ; floor cloth, £19; table baize, £8; lucifers, 60 cases ; vestas, SI cases ; blacking, 10 packages ; agricultural implements, £110 ; agricultural machinery, £332 ; rails and general machinery, £GS6S ; books, £1443 ; paper, 259 cwt. ;paperhangings, £130; stationery. £721 ; upholstery, £87 ; brushware, £130 ; plated and papier mache, £55 ; Toys, £23; firearms, £136; pianos, £226; corks, £5; clocks and watches. £8S; perfumery, £57; printing materials, £15 ; Agricultural and garden seeds, £105; Sulphuric and other acids, £23; gunpowder, £151 cwt; lead shot, 3 tons ; hardware and cutlery, £4592 ; bar and rod iron, £5 ; galvanised iron, 21 tons; sheet lead, 17 tons ; pipe lead. 1 ton ; yellow mbtal, 2 tons ; tin plates, S5 boxes; iron nails, 25 tons ; zinc, 3 tons ; linseed oil, 21G2 gallons ; rape oil, 250 gallons ; animal oil, 500 gallons '. olive oil in bulk, 500 gallons; whiting, IS tons; paint colors, £217; glue, 12 cwt; pitch and tar, 4 barrels; flint glass, £170 ; window glass, £201; foreign window glass, 4S cases ; plate glass, 4 cases ; china aud earthenware, £393; glass bottles, £84; corn sacks, £99 ; canvas, £221 ; cordage, £145 ; lines and twins, £10; cement, 200 barrels; brandy in bulk, 560 gallons ; brandy in case, 1997 gallons ; rum, proof, 1066 gallons ; Geneva, 2560 proof gallons ; British spirits, in bulk, 2SI proof gallons ; British spirits in case, 920 proof gallons ; perfumed spirits, 82 gallons; red wine, 2124 gallons ; white wine, 56S gallons ; beer in glass, 37 barrels, (of 36 gallons); malt, 275 qrs.; hops, S cwt.; bacon and hams, 20 cwt. ; preserved fish, £ISS; sardines, £221 ; assorted oilmen's stores, £1000; vinegar, SOO galls. ; pepper and spices, 6 ewt.; foreign salad oil, 310 galls.; cocoa, 18 cwt ; chocolate, 11 cwt. ; mustard £S2; starch, £56; blue, £20 ; sago, 19 cwt. ; tapioca, 7 cwt. ; patent groats, 4 cwt. ; pearl barley, 4 cwt. ; white salt, S tons ; soda crystals, 15 tons ; caustic soda, G tons ; candles (British and foreign), 210 cwt. ; dates, 50 ewt. ; raisins, 109 cwt. ; currants, 372 cwt. ; figs, 10 cwt. ; carraway seed, 10 cwt.; liquorice juice, 7 cwt. ; sugar, 22 cwt.; rice, 35 cwt.; confectionery and peel, 295 cases; apothecaries' ware; £899; tartaric acid, 3 cwt. ; cornflour, £209 : total value, £52,100. LONDON. The New Zealand Loan and Mercantile Agency Company's Circular, of February 10, pays : — The mails from the Australian colonies and New Zealand, via California, due in London on the 3rd instant, did not arrive at San Francisco until the 21st ultimo, and having been further delayed in transit to New York, are n«t expected here before the 14th current, when those via Brindisi and Suez may also be looked for. We are at present, therefore, without later dates than those received on 17th January, by the latter route from Melbourne down to 2nd T)ec°mber, Adelaide 4th December, and Isew Zealand 25th November. Via Singapore, advices have come to hand from Sydney to 10th December. . The tkird sessien of the present Imperial Parliament was opened by Her Majesty the Queen, in person, on the Sth inst. As might have been expected, unusual prominence is given in the Queen's speech to Foreign affairs, and no doubt considerable time will be occupied during the session in the discussion of the revolt in the Turkish provinces, the purchase of the Suez Canal shares, and the issue of the Fugitive Slave circulars. Colonial affairs are referred to simply to note their continued prosperity, and to promise papers respecting the South African possessions. Measures dealing with the Court of Appeal, the Merchant Shipping laws, and other subjects demanding legislation, are promised, but the chief topics of interest for some'time, at least, will undoubtedly be found in the Foreign affairs above specified. Our usual statistics published below do not reveal any improvement in the position of the external trade of this country. On the contrary there is a decrease in the exports for the month, as compared with January, 1875, of £332,245. or nearly 2 per cent. An analysis of the items shews that the principal decline has been. in haberdashery (£149,442—33J per cent.), jute piece goods £29,195—23 per . cent.), woollen cloth (£42,257—61 per cent.), machinery and nullwork (£89,914—14 i per cent.), and iron and steel (£390,427—21J per cent.) The followin" are the principal articles shewing an increase :—Coal (£91,995), cotton yarn, piece goods, and other manufactures (£225,049), and woollen yarn and worsted stuffs (£60,947). The lower range of valuee now

ruling in some of these staples o£ export is shewn in the fact that while in iron and steel the quantity has fallen from 154,737 tons in 1875, to 133,998 tons in 1876,- or 13J per cent., the value has simultaneously declined from £1,839,966 in January, 1875, to £1,449,539 last month, equal to 2lj per cent. Similarly the value of coal and coke exported shews a rise of only 15 J per cent., while the quantity has increased by 45 per cent. The figures on the whole would seem to shew that the decline in prices which succeeded the inflation of some two or three years since has not yet been arrested. Imports for the month shew an augmentation as compared with those of January, 1575, of £1,701,928, or about 5J per ceut. Breadstuffa contribute to this increase to the extent of £1,062,499, the balance of the increment being made up chiefly by other articles of food. Money Market.—This market has been devoid of any important feature calling for special notice. Ihe stock of. bullion in the Bank of England has undergone a tolerably regular increase week by week, until at the last return, made up to the 2nd instant, the figures shewed an improvementoE £1,139,690, some comparatively small withdrawals for abroad baring been more than counterbalanced by arrivals; the amount on balance received from other countries into the vaults of the bank having been £139,000, which, added to £1,000, 690 returned from the provinces, made the net gain named above. A decrease in the active circulation for the same period has resultsd in the transfer from the issue to the banking department of £897;540, the reserve being accordingly augmented by £2,037,260. The amount thereof stood at £10,169,471, against liabilities .£23,547,596 —a proportion cf 42§ per cent, as compared with four weeks since. This continued improvement in the position of the bank's stock of the precious metals has been for the most part accompanied by abundance in the supply to the open market; consequently a reduction of 1 per cent, in the official minimum rate of discount was announced on 27th ultimo, namely," from 5 to 4 per cent. Outside quotations, which had been previously about J per cent, below the bank rate, immediately responded to the movement, and until within the last few days the best bills have been discounted at from 3Jdownto3|per cent. There are now, however, indications of greater firmness, the causes of which are three : first, the revenue payments to the bank, which are heavy at this period; second, the Stock Exchange settlement now in progress ; and third, the withdrawal recently of considerable amounts from the bank, the total on balance for the week ending yesterday having been £225,000; on the other hand, supplies are expected from America and Australia; but on the whole the open market is decidedly higher, present quotations being 3| to 35, while loans on English Government securities at call are transacted at 'Sh to 4 per cent. The Gazelle returns of bullion movements shew that during the past four weeks the import of gold to the United Kingdom has been £1,166,932, and the export £1,134,735. Stock Markets.—Business generally, in this direction, has been somewhat restricted,and the prevailing symptoms have been less favourable. Sanguine expectations as to the beneSt to Egyptian finances to be derived from the mission of Mr. Cave have been, followed by disappointment, as no evidence of success has manifested itself, and the ■'Eastern Question" connected with Count Andrassy's note has been also a disturbing element in the market for foreign bonds. The effect of these influencies has been fluctuations in Egyptian and other similar securities. Home railway stocks have suffered a decided decline, the traffic returns not beiug considered satisfactory, and the dividends announced being in many cases below what had been anticipated. The attention of investors has, therefore, been given to a good extent to American and colonial debentures, which, especially the latter, continue to improve in favour. English Government consols have ranged torn 93£ to 93g. New 2'ealand Loan and Mercantile Agency Company ( Limited) : The report of the directors of this company shews an available profit for tho year ending 31st December last of £26,630 9s 7d, and recommends the declaration of a dividend of 10 per cent, (of which 5 per cent, has already been paid), and of a bonus of 5 per cent., the addition of £8000 to reserve fund, and the carrying forward of the balance, £2347 0s Gd. An increase of the capital, by the issue of 40,000 new shares of £25 each, is also proposed, and the resolutions necessary for tho purpose will be submitted at an extraordinary meeting, to be held after the annual general meeting, on 11th February. Wool.—Any speculations as to tho probable course of this market •will perhaps be out of place in view of the short space of time which will now elapse before the actual opening of the February series, the issue of which will place all questions beyond doubt. The only favourable features we have to record are the lowness of stocks of the raw material held by the trade, and the very moderate amount of arrivals. In any other respects, the industry upon which thejstaple depends cannot be said to have entered upon any more favourable phase. These considerations will of course fail as the season progresses and arrivals show heavier totals, so that there is reason to fear in the absence of some marked change in business for the better, of which there is at present but little sign, that our general outlook can ' hardly be regarded as very satisfactory. As ! we have already stated, however, the necessities of the trade are for the moment of a rather pressing character, especially in . France, where the stock of old wool has been reduced unusually lotv, so that any marked change in quotations may be very possibly postponed for the present. The Antwerp sales have been in progress since ' the Ist instant, and the attendance of buyers ! and competition continue good. Prices have thus far ruled somewhat under the quotations previously current by private treaty, or say on a par with the November rates in the same market. As at present arranged, the first series of colonial wool sales in London will close on the Stli March, but be considerably modified by the [ extent of the arrivals during the next few i days. Tho following are the arrivals up to ' this morning :— sew South Wales and 1 Queensland, 13,351 bales ; Victoria, 30.27S bales; South Australia, 10.09S bales ; Tasmania, 215 bales ; New Zealand, 2,992 bales; ! Cape of Good Hope, 36.654 bales : total, [ 92.71S bales. Tallow.—This market has shewn great . irregularity since our Circular by last San - Francisco mail. In the face of a deficiency of enquiry on the part of the trade, larger > quantities have been brought forward during the last two weeks than tor some time pre- [ viously ; aud holders being anxious to sell, . tue natural result was a decline in prices, ; which at the sale held on 2Sth ultimo, when s 1204 casks were brought forward, amounted i to about Is per uwt., and at this reduction 1 only 254 casks were then cleared. At the . auction in the succeeding week much greater depression iras exhibited, only 9S casks [ being sold out of 952 catalogued. No parcels of fine quality were disposed of, but the rej duction shewn on other descriptions justified > annotation of 3s to 4s less tbau previous '. rates. Since that date, with an improved p demand, a considerable amount of busil ness has been transacted privately, and j prices, especially for the better qualities, • have somewhat recovered from the lowest L point recently touched. It will be seen below, however, that they are still 2s to 3s ; below those of four weeks since. We hope f that the moderate quantity advertised for . sale to-morrow will find a more favourable s market. During the four weeks since the despatch of last mail the total quantity i offered at public auction has been 4,596 casks, . of which 1,561 casks have been sold at prices r ranging from 40s to 4Ss 6d per cwt. for , mutton, and 37s 3d to 47s for beef. Ari rivals of Australian for the same period were 591 casks. Shipments advised by the mail [ delivered via Brindisi and Suez amounted to '. 1,869 casks. Leather.—The demand for Australian sides . still continues dull, and only a limited business has been transacted either in public sale i or privately since our circular No. 105. At • the auctions held on the 14th January,

5,380 sides; were'joffered, and only 725 sold. Subsequently on '23th idem, holdersin many cases submitting to & decline of about 4d per lb., a better demand was exhibited, and 2,278 sides were cleared, out of a total offered of 3i840 sides. The following are market quotations based on the last-named sale:—Beet sides, averaging 16 to ISJ lbs., 10id to lljd per lb. ; light, averaging 10 to llj lbs., 10£ d to Hid; extra heavy, averaging 19 J to 22 lbs., 10d to lid; seconds, averaging 11 to 16 lbs., 9Jd to IOJd. For auction to-morrow 9,904 sides are advertised" " Arrivals for the four weeks ending February 3, were 4SO bales. Shipments advised by the mails from Australia and New Zealand, delivered since 13th ult., were 595 bales. New Zealand Hemp.—There has been only one periodical auction of the New Zealand hemp during the past month, which was held on 19th ultimo, when 456 bales were catalogued. Of this quantity 429 were disposed of. The demand is fairly good, but supplies in warehouses being still large and consumption limited, no improvement in value has manifested itself. The fact that stocks are declining, and the occurrence of a better enquiry in. the market for Manila hemp may, however, be expected to affect favourably that for New Zealand produce. We quote present prices £18 to £22 per ton, according to quality. Subjoined will be found comparative statement of stocks, landings and deEveries at 31st January, 1575 ank ]576 respectively : —Stock on 31st January, 1575, 203S tons; 1876, 1237 tons. Landed during January, 1575, S2 tons ; 1576, nil. Delivered during January, 1575, 40 tons ; 1876, 75 tons. There are no arrivals to record. Kauri Gum.—This import has been in only moderate demand at easier rates. On the 20fch January 611 cases were offered to public competition, of which only 150 cases found buyers under the hammer, and on the 3rd instant of 330 cases offered only 71 were disposed of at the following prices : —Good scraped, 55s per cwt.; low middling soft, 47s 6d to 49s 6d; chips, 40s. The statistics of the position of kauri gum, with respect to stocks, landings and deliveries at 31st ultimo, and at corresponding-date in 1575, are subioined :—Stock on 31st Jannary, 1875, 559 tons; 1576, 1099 tons. Landed during January, 1875, nil; 1876, 282 tons. Delivered, January, 1875, 215 tons; 1876, 139 tons. We have no further arrivals or advices of shipments. The Corn Market. — The telegraphed quotation from the Mark Lant Express review of the European grain trade, for February 21st, is as follows:—"The severe frost of which we wrote the past week was quickly succeeded by a rapid thaw, and trade which was improving slightly has relapsed into inactivity. The Paris market has taken the same course, but as it advanced rapidly during the frost, it yielded more readily with the return of mild -weather. In two or three days flour rose nearly three francs. It looked like the commencement of a steady reaction, but the advance was almost wholly lost within three days. The abundance of home supplies after the poor, crop is equally remarkable in France as in England. Not less remarkable is the fact, that the stock of flour in Paris is much larger than last year. The supplies since the harvest have largely consisted of old wheat, and this probably explains in great part the comparative low price of home-grown wheat."

SAN FRANCISCO. The Alta California of the 29 th February reports as follows : — Quicksilver. —The Mikado will take 50 flasks for Australia, and 20 ditto for New Zealand. Tlie quotable price is 50 cents per pound. In Sunday's issue, owing to a portion of a sentence being left out, we were made to say that "the next steamer for China will carry at least 1000 flasks." We wrote, "itis believed," &c., having no positive information as to the amount she will carry. It is now quite evident that no large quantity will be sent to China on the first, the Hongkong market being anythiug but inviting at this time, as stocks at first hand are large, and the price per picul is reported by telegram at only So dollars. Price in London, £10 per flask. The large shipments of brooms to be made by the Mikado to-morrow is worthy of special mention. This industry has risen to some prominence, and judging by the increasing exports of the article, manufacturers are building up quite a lucrative business with foreign countries. So far as we are already advised the Mikado will have 1134: dozen for Australia and 303 dozen for New Zealand, in all, 1437 dozen. For the year 1875 the exports amounted to 30,457 dollars. Hops.—Eminett Wells's New York Circular, latest received, contains the following remarks:— "The market continues firm, and the demand quite active. A thousaud bales of choice hops have eleared for export this week, and shippers are on the alert for more; but they do not want to • to pay over 17 cents for the best hops. In- • deed, there is a great scarcity of fine hops, and shipments would, no doubt, be largely increased could quality to suit be found. There is no scarcity of medium and low grAdes, however; in fact, the heavy receipts of late have caused quite an accumulation of this class, and there seems to be no outlet for it. As the better grades are cleared off, i however, seconds and low must generally i come into use. For the last six weeks or so, we have heard a good deal about the scari city of hops iu the interior; about their being all bought up and shipped out of the i, country, and no more to come forward; but l the figures we give showing the weekly ; receipts into New York tell a different story. r The average is 2456 per week since Septemr ber Ist, 1875. One of these days we expect » to hear that the open winter has killed off • all the roots."