Commercial News.

New Zealand Mail, Issue 220, 27 November 1875, Page 11

Commercial News.

The amount of Customs duties received at this port for the week ending November 25, 1875, was as under : & s. d. ,C s. d. Spirits .. .. 028 5 2 Goods by weight IL2 0 9 Cigars .. .. 148 15 0 Do. ad valorem 028 7 7 Tobacco.. .. 330 11 (i Do. other duties 52 15 4 Wine .. .. 135 14 7 Light dues, Me .. .. 213 15 10 shipping, &c. 29 2 0 Tea .. .. 205 3 0 Coffee .. .. 32 18 o Sugar .. .. 511 9 2 £3029 4 5 In the import market trade lias been dull during the past week, owing to the continued wet weather and no transactions of any magnitude are reported, quotations remaining unaltered. In New Zealand produce, keg butter meets with no inquiry, and as the local demand, owing to an increased population s is becoming greater, it is not improbable that the whole of our local manufacture will be absorbed in the province. Quotations for prime cure are nominal, lOd. to lid. per lb.; kegs, Gs. each ; cheese continues scarce, and is worth llld. per lb.; bacon is in good demand at Is. to Is. Id. per lb.; hams, Is. 2d. to Is. 3d. per lb. for cloth packed, with active inquiry. Flour remains at £lO 15s. to £ll per ton for Canterbury and Oamaru sorts in bakers’ parcels, and shows indications of hardening. For Oats, the trade demand continues good, but prices, show no improvement, feeding sorts are worth 2s. lOd. and good milling oats sell readily at 3s. 2d. to 3s. 4d. per bushel; maize, dull at4s. lOd. to ss. ; bran, ample stocks at lOd. to Is. ; pollard Bs. perlOOlbs. ; potatoes, light stocks, and worth 80s. to 85s. per ton ; 50 cases oranges per Easby, realised at auction 14s. (id. per case. THE WELLINGTON MARKETS. Wholesale Prices. Farm and Dairy Produce. , ~ s. d. s. d. s. d. s. d. Butter, fs, lb 010 to 1 0 Lard, Hi .. 0 oto 0 5 Butter, sit, lb 0 8— 0 9 Bacon, Pro.. 011 1 Cheese .. 0 0— 0 11 Hams, Pro.. 1 0— 1 Do., Ct’bury. 010 —0 11 McConnell’s 1 0— 1 2 Eggs, dozen 1 4—l G Ct’bury hams 1 0— 1 2 Retail Price. Milk, quart.. 0 4too G I Fowls, pair.. G oto7 0 Butter, fs., lb 0 0— 1 0 Ducks, pair.. 7 O—S 0 Butter, salt.. 1 0— 1 0 Geese, each.. G 0— 7 0 Cheese, Col.. 1 1 2 Turkeys, do. G 0 —lO 0 Eggs, dozen 0 0— 1 G I Bacon, lb .. 0 0— 1 4 Lard, lb .. 0 o—o 10 | Ham, lb ..0 0— 1 G Rabbits, pair 2 G—3 0 j Potatoes, new 0 3 0 0 Cabbages, dz 2 G—3 0 Carrots ..2 G—3 0 Turnips, doz 2 G— 3 0 I Potatoes .. 5 0— G 0 A’d veg’bl, dz 2 0— 2 G | Bread, 3d. to 4d. 21b. loaf. Flour Market. Wholesale. £ s. fl. Superfine Flour, silk dressed, per ton £l2 to 12 10 0 Fine Flour, ditto, household .. .. .. 11 0 0 Seconds, per ton 000 Sharps, per ton 800 Adelaide, per ton .. .. ~ .. 15 0 0 Oamaru, ditto 12 10 0 Dunedin, ditto . .. !! 12 0 0 Canterbury, ditto ’ !12 0 0 Bran, per bushel 11 0 14 Hay and Corn Market. Wholesale. Maize, Sydney (> oto 7 0 Hay, ton .. (i 10 to 710 Do. Crushed 4 9 5 0 | Oaten, ditto 0 0— 5 10 Oats (South). .4 0— 4 3 | Lucerne,ditto 0 0— G 10 Wheat (fowl) 4 0— 4 3 Straw, ditto 210 Potatoes .. 0 o— 5 0 | Chaff, ditto 7 0— 0 0 Retail. _, . s. d. s. d. s. d. s. d. Maize .. 5 Gto G 0 Peas .. G oto 7 0 Oats, ditto .. 4 G—4 3 Do. crushed 7 3 7 G Do. crushed 4 9 5 2 Lucerne, cwt. 0 0— (i G Bran, ditto 1 9—2 O | Oaten, ditto 510 G 0 Wheat (fowl) 4 G— 0 0 Straw, ditto 510 ITay, cwt. . .510— G 10 Chaff, ditto 7 0— S 0 Beans ..6 o—7 0 O’Sheath’sdo. G o—7 0 Do. crushed 7 3 7 G Brocolo from 0 3 1 G Seeds. Ryegrass, bsh. 7 OtoS 0 Alsyke, lb. ..1 2too 0 Do. Pov. 8., do.S o—o 0 Cow grass, d 0... 1 3—o 0 Cocksfoot, do. 10 o—o 0 Rape, do. ..0 G—o 0 Wt. clover, lb. 1 2—o 0 | Lucerne, do. ..1 o—o 0 Red do., d 0... 1 o—o 0 | Timothy, do. ..1 o—o 0 Building Materials. Timber,—Boards and Scantling, 100 ft., 9s. to 155.; 11s. Gd. at mill; planed, tonguedand grooved, 11s. (id. to 12s. sd. Red pine palings, 12s. per 100 ; red pine timber, 16s. per 100 feet ; kauri timber, 18s. per 100 feet • red pine, tongue graved, 225. per 100 feet; totara posts, Is. 4d. each ; birch rails, 8(1. each ; white pine shingles, 10s. to ISs. per 1000. BONE DUST. Bone dust, No. 1, £8 to £lO ; bone dust, No. 2, £7 10s. to £S 10s.; bone dust. No. 3, £0 to £G 10s. HOP.ARTON TIMBER AND FENCING MATERIAL. Shingles, £1 per 1000 ; palings, from 20s. to 255. per 100; rough spokes, 255. per 100 ; felloes, from 100 s. to 200 s. per 100 ; timber, 235. to 255. per 100 feet superior; posts, £slos. per 100; rails, £4 3s. 4d. per loo! Coal and Firewood Market. Coal.—Newcastle, £2 ss. per ton. Firewood,—2 foot rata, 3Gs. to 40s per cord ; 1 foot wood, 455. per cord ; 4 foot wood, 30s. per cord ; C foot wood, 30s. per cord. CHRISTCHURCH COMMERCIAL. (From the LjiUeUon Timex, November 20. GRAIN AND PRODUCE. 1 lie same dullness that has characterised our markets for some weeks past still prevails, and as our Northern and West Coast markets are overstocked with all kinds of produce, we must look for dull times for the remainder of the season. The lateness of the season is beginning to induce farmers, who have been holding for higher rates than those offered by buyers, to come forward more freely. Large quantities of oats have been bought in during the week, and the better sorts have found purchasers at 2s. 3d.; for inferior sorts 2s. 2d. has been offered, but farmers feel disinclined to accept anything less than 2s. 3d., while buyers are not keen purchasers at this rate. Wlieat we quote at 45.; barley, 2s. Gd. to 35., nominal. Millers’ quotations unchanged. Dairy produce—Butter, S3d. to fid.; cheese, Bd. to Bld. for old. Manufacturers of bacon and hams quote llld. bare, Old, extra in cloth in equal proportions. stock and stations. Since our last report the weather appears to have assumed a settled aspect, more like what is expected at this season of the year than lias ruled since November set in, and the whole coiuitrv has an appearance of luxuriance most pleasing to the eye of a farmer. The holidays being over, business has been resumed in a rational manner, and wo arc enabled to refer to actual transactions in drawing our deductions. In stations we have no transactions to note, although we are aware of several impending sales, which would be quickly concluded if a little mutual concession were made. The great bar to business of this kind is the uncertainty which hangs over the disposal of the runs in 1880, and the sooner this question is settled the better.

hollowing the Agricultural Show, the usual number of sales of pure-bred stock have been held, and wo need not go into details of these, as full reports have been given by the auctioneers interested. The want of demand for. pure sheep was the most noticeable feature, but this must not be taken as an indication that our farmers are tired of long-woollcd sheep, for such is not the ease. The market is merely overstocked for the present, and breeders of good rams must be content to wait for a season or two, before a brisk demand recommences.

The local wool sales opened on Tuesday last, and considering tlio price of wool in the London market, those obtained here must be considered as good It is true, the prices given ranged from Id. to lid. below last year s prices, but this is not more than the fall which has taken place in London.

At the yards on Wednesday, about 2000 sheep and upwards of 300 cattle were yarded. For both kinds of stock there was a fair competition, as might be expected, after an interval of a fortnight between sales. Brices did not, however, go beyond our last quotations, which for sheep we leavo to stand at 3d. per lb. for unshorn, and lid. for shorn sheep, good lambs are worth from Bs. to 10s. Amongst the cattle offered were a number of prize takers, which realised up to £25. Our quotations will stand at 30s. lOOlbs., with a downward tendency. Store cattle continuo in good demand,

THE MELBOURNE MARKET. (From Goldsbrough’s Circular, November 3.) Wool.—The opening sale of the season in Melbourne was held at our warehouses on the 27th ult., and there was a very large attendance of buyers ami others interested in the trade. The catalogue comprised 4739 bales, of which 1700 bales were sold at auction ; in addition to which we placed about 1300 hales by private contract after the sale. Other auction sales, both in Melbourne and Geelong, have also been held, the total catalogued to date being 10,000 bales, of which about 8500 bales have been sold. The prices realised to this date show a reduction on last year’s opening rates of about Id. on ordinary greasy, lkl. to 2d. on superior greasy, and about lid. to 2d. on.washed tleeco and scoured. The highest rates obtained have been Is. Id. for a superior lightconditioned clip of 258 bales from the Benduck station, and 2s. 4d. for a very choice lot of 180 bales beautifully got up washed fleece from the estate of Mount Emu. The reduction in the value of superior greasy may be chiefly attributed to the absence of the demand for America, which caused such full rates to rule for the best descriptions last yean The arrival of the clip has been delayed by wet weather, which lias not only interrupted shearing, but. also rendered the roads impassable for drays. Owing to these causes the season is fully a fortnight later than last year; but it is now in full operation, and the arrivals during the past week have been very considerable, the warehouses being nearly full. There will be heavy catalogues to submit each week from this time forward, and we anticipate that large quantities will change hands, as the growers generally seem disposed to meet the market and realise in the colony. Buyers, on the other hand, have bid up well, and are purchasing with considerable spirit, taking into account the aspect of the Home market and prospects generally.

With reference to the condition of the clip, we find the bulk of the lots in the grease which have come into the warehouses are in lighter order than last year, and frequently rather tender in the staple. This is attributable to. the scarcity of feed and water on many of the stations during the last autumn and early in the winter; and also to the cold wet spring, which has caused the fleeces to be less yolky than usual. Of washed fleece, only a limited quantity has been offered to this date ; but the same causes have in several instances made the fleeces less sound than usual. On the whole, however, the clip is in good order, and very careful attention has, in the majority of instances, been given to the classing and general get up.

Owing to the later delivery of the clip, it is not likely that the quantity to be shipped for the London February sales will be equal to that of last year, but much depends on the date of commencement. If they do not open earlier than the last series (February 23), probably nearly the same quantity will be delivered in time, as wool is now being shipped very freely. As nearly as we cau at present estimate, about 80,000 bales will be cleared from this colony up to November 10 ; but it is not possible at this date to make a close calculation, and we must wait until the actual returns of shipments are completed. It is estimated that 50,000 bales will be cleared from South Australian ports up to the same date, thus showing a probable increase of nearly 10,000 bales oil the quantity included in the last February sales from that colony. From New South \Yales probably about 15,000 bales will bo forward in time, thus making an estimated total from the three colonies of 145;000 bales, as against 160,666 bales in the corresponding sales of this year.

The Skerryvore lias been laid on for New York, and will, it is expected, take a limited quantity of wool on American account; and we learn that it is probable a vessel will be laid on for Boston in the course of a few days. Burchascs are being made for direct shipment; and should there be any symptoms of a revival of tlio manufacturing interests in the United States, no doubt the orders now to hand will be largely supplemented by telegram as the season advances. A ship lias also been laid on for Antwerp, to sail about the end of this month ; and this being the first vessel sailing direct for that port with a cargo of wool, considerable interest is manifested in the result.

Freights to London continue at last month’s rates, viz., id. for greasy, and gd. per pound for washed undumped, Jd. extra.

The following ships have cleared during the month:—

Oct. 7tli—Strathdon, Melbourne for London 4,357 „ 13tli—Durham, s.s., Melbourne for London 1*797 ~ 20tli —Salamis, Melbourne for London .. 5,423 „ 26th—Udston, Geelong for London .. .. 9*405 ~ 28tli—Duchess of Edinburgh, Melbourne for London 5 3si Nov. 2nd—Oberon, Melbourne for London .. 4*684 31,047 Add previous shipments .. .. 2,800 Total, October Ist to date .. .. 33,847 The Shannon, Lincolnshire, Miltiades, Achilles. Ben Cruaehan, City of Agra, Holmsdale, Juliet, and Grecian, are loading for the February sales, and are expected to take about 48,000 bales, thus making a total of about 80,000 bales estimated to be shipped from Victoria in time for that series. prices current—- ,, T r • S ‘ d ’ S ‘ d ' Greasy—lnferior 0 7 to 0 9 Ordinary to average .. 0 9 ~ 0 11 Good to superior .. 0 11 ~ 1 1 Fleece, washed—lnferior .. .. 1 3 1 0 Ordinary to average .. 1 6 ” 1 8 Average to good .. .. 1 8 „ 1 10 Superior 2 0 ~ 2 4 Scoured—lnferior 1 4 ,’ 1 G Ordinary 1 G ’’ 1 8 Middling to good .. 1 8 ~ 1 10 Superior 1 10 ~ 22 Sheepskins.—During the month our sales have been well attended, and we have sold a larger supply than usual at satisfactory rates. The market remains firm at a slight decline on late quotations ; the principal cause of the decline in value being that thcfellmongers, who purchase all that are sent forward, are now able to buy greasy wool suitable for scouring. Our sales arc—Butchers skins, from 4s. to 7s. each; pelts, up to is. each ; crossbreds, to 7s. 6(1. each ; and dry skins, 3s. to (is. each. Station skins are worth from 5d to 71 d. per lb. Hides continue to be in good demand, the local tanners taking all offering, at about last month’s quotations. Wc do not look for any alteration in prices, although the steadiness of the market depends principally on the supply offering. Ox-hides realise from 255. to 335. each ; cow-hides, 15s. to 255. each ; Victorian-salted, 41-d. to sd. per lb.; and New Zealand 5(1. to 5Jd. yer lb. Tallow.—At our weekly sales wo liavo disposed of 650 casks of all descriptions, for shipment and local manufacture. The late high rates have been well maintained, a speculative spirit having been evoked by the favorable telegrams received from London. Wo have sold superior mutton at £39 10s. per ton; ordinary to good mutton, £37 to £39; beef £34 to £37 ; Mixed and inferior, £2B to £34 per ton, but at our sale yesterday there was a reduction to the extent of from £2 to £3 per ton, in consequence of telegraphic advices of a declino in London. We now quote—Superior mutton, £37; and beef, £33 to £35; other sorts in proportion. The rate of freight to London is 455. per ton. Clearances are as follow: October 13.—Durham, s.s., Melbourne for London.. .. .. ~ ~ , casks October 28.—Duchess of Edinburgh, Melbourne for London ggy November 2.—Oberon, Melbourne for LOll- ” don 7

(From tlio Argus of tho 13th.) Messrs. Hustings, Cunningham, and Co. held a sale of wool at their stores this afternoon, and brought forward 2900 hales for public competition. There was a full attendance of buyers, and biddings for all descriptions were maintained with much spirit, at rates fully up to tho quotations ruling during the week. There were 1700 bales disposed of at auction, in addition to which are reported tho private sales of 1134 halos since the last public salo. Quotations are, for greasy, from Bd. to 13d.; scoured, 18d. to 211 d.: fleece, 18J(L to 21d. per lb.

WINDELER AND BOWES’ WOOL CIRCULAR. London, October 1. The auctions, which have been in duration hero since the 17th August, end to-morrow. There will then have been catalogued 289,815 bales, and it is estimated that about 20,000 have been withdrawn or held over for the concluding series of this year. At the close of last month the decline in prices which has been the main featuro of the present sales, had already reached its full limit; at the established reduction of 10 to 12 per cent., as compared with the average of June rates, they continued with more or less depression for some time, but during the last ten days there have been many spirited sittings, and, on the whole, the close of the series has been distinctly governed by a better tone. Buyers have shown more confidence in their biddings, The attendance of buyers, which was very scanty during the middle weeks of the series, has latterly been fully up to an average; and although the foreigners have not been so eager as could have been wished, it is estimated that their united purchases will reach 125,000 bales, which, considering the unfavorable reports still current from Franco and Germany, must bo looked upon as satisfactory. The scarcity of good to superior washed and greasy Port Phillip fleeces has placed them latterly in rather an exceptional position, and prices realised for them have occasionally shown an advance of Id. per lb. above the lowest point. Good Sydney and New Zealands, which could replace them, have participated to some extent. Half-bred wools, which, at one time, were very neglected, are also now in much better demand, but the general recovery, important as it may be considered, as showing that the bottom of our market lias been reached, does not exceed id. per lb. all round, leaving still the bulk of Australian washed and scoured lid. to 2d. per lb. lower than the average of June rates, and unwashed Id. to l£d. per lb. Cape wools, in the present instance, have not followed tho course of tho Australians ; they have, on tho contrary, lost the comparatively firm position that they lielu during the first portion of these sales, and they are now Id. per lb. lower than then, causing the fall on them to reach now lid. to 2d. per lb. as compared with June.

For the next sales, now fixed to open on 23rd November, the available supply will probably amount to SO,OOO bales, new arrivals—of which half may be Capes—and the 20,000 bales withdrawn from the pre*>sent series. THE BANK OF NEW SOUTH WALES. The fiftieth half-yearly meeting of proprietors was held at the head banking-house, George-street, at noon yesterday, Mr. T. Walker, president, in the chair, when the following report was submitted : The directors have the pleasure to submit to the proprietors a statement of the assets and liabilities of the bank on the 30th ultimo, with the auditors' report and declaration The net profits for the half-year, after deducting rebate on current bills, interest on deposits, providing for bad and doubtful debts, and reducing valuation of bank premises, amount

w ... ~ . . £97,406 14 0 With the above appropriation the reserve fund will amount to £400,000. The dividend will be payable at the head office tomorrow, and at the branches on receipt of advice. Aggregate balance-sheet of the Bank of New South Wales, September 30, 1875 ; including London branch to 30tli June, 1875, and New Zealand branches to 6th September, 1875.

_.. , £400,000 0 0 The report was adopted. Mr, Thomas Cadoll reelected a director, and Messrs. W. R. Piddington M.L.A., and J. H. Neale appointed auditors. A resolution was passed, subject to confirmation by a future general meeting, as roquired by the Bank’s deed of settlement, giving the directors power to defer calling tho half-yearly meetings till May and November, in each year, if requisite, in order to meet the increasing difficulty of getting in tlio branch returns in sufficient time to permit of their proper examination. BY TELEGRAPH ~ , AUCKLAND, Thursday. Mr. Alexander Saunders reports Sales • National Insurance, 235.; Tokatea, 12s. Gd. BuyersSouth British, 60s Sellers: National Bank, 745. : liji, 48s ; New Zealand Shipping, 21s. to 50s. paid; Caledonian, 725. (id.: Beach, 80s.

to To which is to be added ,. £94,242 7 11 Undivided balance from last half-year 3,104 0 1 Giving for distribution . .. £97.400 14 O Which the directors recommend to be appropriated as follows:— To payment of dividend at the rate of 15 per cent, per annum .. £75,000 0 0 Bonus at the rate of 2J per cent, per annum 12,500 0 0 Augmentation of the reserve fund 6.000 13 4 Balance carried to profit and loss, new account 3,240 0 8

DR- £ s. d. To Bank stock 1,000,000 0 0 Beserve fund 393,333 0 8 Notes in circulation .. .. 693 649 0 0 Bills payable 2,476,668 5 2 Deposits and other liabilities .. 8,251,080 7 8 Profit ank loss 127,41111 9 „ £12,942,142 11 3 d. By coin and cash balances .. .. 3,169,801 9 Bullion in hand and in transit to 2 London 418,318 16 1 Government securities .. . 73142 4 4 Notes of other banks .. .. 14 951 0 0 Bank premises 191,976 14 Bills receivable, bills discounted, and other debts due to the 4 bank 9,066,772 6 4 Insurance account 7,181 2 0 £12,942,142 11 PROFIT AND LOSS, SEPTEMBER 30, 1875. 3 Dr. £ S. September 30, 1875, To rebate (at current rates) on bills discounted not due at this date 30,004 17 Dividend at the rate of 15 per cent, per annum 75,000 0 Bonus at the rate of 2£ per cent. per annum 12,500 0 Augmentation of the reserve d fund 6,666 13 Balance carried to profit and loss 4 new account 3 240 0 8 „ £127,411 11 Cr. 9 March 31, 1875. £ s d. By amount from last account .. .. 3,164 6 September 30. Balance of half-year’s profits after providing for bad and doubtful debts, and including recoveries from debts 1 previously written off as bad .. 124,247 5 8 £127,411 11 Reserved Fund, September 30, 1875. 9 Dr. £ s, d. 1875—September 30. To balance 400,000 0 Cr. 0 1875—March 31. £ s d. By balanco 393,333 <i September 30. 8 Amount from profit and loss .. .. 0,660 13 4