Commercial News.

New Zealand Mail, Issue 421, 6 March 1880, Page 13

Commercial News.

Aimt t of Customs duties collected at the port of Wellington for the month ending the 29th of

The Customs duties collected at the Port of Wellington for the week ending February 28 amounted to £2434 7s Ud. Messrs. Stevenson and Smith report :—Buyers: Bank of New Zealand. £l9; Colonial Bank, 395; National Bank, 60s ; New Zealand Insurance. 42s to 435; New Zealand J oan and Mercantile, 82s 6d; National Insurance, 19s 6d ; Colonial Insurance, 6s 9d ; Wellington Trust and Loan (old issue!, 4s premium. Sellers: Bank of New Zealand, £2O; Colonial Bank, 41s ; National Insurance. 21s; Colonial* Insurance, 7s to 7s 6d; Union Insurance. 15s. Messrs < ’roskery, Hassell, and Co report sales last week Flour, Ll 3 per ton ; oatmeal, Ll 4 per ton ; pollard, L 5 10s per ton ; bian, 8d per bushel ; butter, 6d per lb ; hams and bacon (Canterbury), lLkl per lb; cheese, 5d to 7d per lb ; apples, 4s 9d to 7s per case ; pears, 10s to 14s per case ; cucumbers, Is 6d per doz ; eggs, 2s to 2s 6d per doz ; pe ches, 8j 6d to 9s 6d per cai-e; fowls, 4s 6d per pair. Messrs. T.aery and Campbell sold, at their market sa’e, on Wednesday:—Peaches, 12s; apples, 4s and 6s; pears, 6s, half case ; cucumbers, lid ; potatoes, £3 10s ; cheese, 6d ; chaff, £4 10s; maize, 3s 3s to 3s 6d ; bran, 6d : pollard, 5s ; onions, 10s ; tea, 18s per box. The fine estate of Woodville—the property of Mr. Samuel Revans, one of the oldest Wellington settlers, and, by the way, one of our oldest journalists—was sold on March 3 to a Featherston settler, and the price indicates the severe commercial depression which yet prevails. The property is pleasantly situated along the banks of the Tauherinikau river, a few miles from Greytown, to which there is a good road. It is also intersected by the railway, and its extent is about 1100 acres, 500 actes of which is useful bush, and for the cutting of the latter there is a fully-eq ipped sawmill included in the purchase, and the price for the whole was £2BOO. MONEY. The “ Wellington Monthly Price Current,” of last month, writes as follows ' relative to the money market:— It is a relief to be enabled to break, in however small a degree, the dull uniformity of the tale of stringency and tension which we have had to repeat under this heading for more than a year past. In our last issue we reported an intended reduction in the banks’, rates for deposits, and it has since been announced that the rates for six months and twelve months deposits were lowered by one-half per ce t. in each case. We accept this step as an indication that the keen competition for deposits to which we had fist occasion to allude in October, 1878, is now found by the banks to be no longer necessary or desirable, and taken in combination with other facts to which we shall afterwards refer, we welcome it as the commencement of an improvement which, though slow and gradual, will, we hope, be progressive and permanent. We understand that a further reduction in these rates will be made early next month. The official returns for the December quarter of the banks doing bueiness in thi3 colony, have been published since our last, and we condense therefrom the following particulars, showing the aggregates of the banks’ advances, circulation, and deposits for the quarter, with comparison of the preceding quarter, and of the corresponding quarter of 1878 ; 1879 1879 1878 Dec. Qr. Sept. Qr. Dec. Qr. Advances ..£12,872,986 ..£13,290,871 .. £14.524 803 Deposits & cir- _ culation 8,498,840 .. 8,302,581 .. 10,384,815 Excess of ad : ~~ vances .. £4.379,146 £4,988 290 £4,139.988 It will be seen that a considerable reduction has been effected from the inflated totals of a year ago, though the excess of advances is still £240.000 more than it then was. It is, however, satisfactory to find that since the September quarter an improvement of nearly £600,000 has taken place, viz., a reducti n of about £400,000 in advances, and an increase of about £200,000 in deposits. Turning to the other side of these returns we find the total of coin to be £1,931,880, as against £1,720.491 for the September quarter, or an increase of £200,000. The aggregate assets and liabil ties of the banks are respectively as follows, namely _ Dec. Qr. Sept. Qr. Assets .. •• £15,388,637 £16,607,711 Liabilities .. .. 8,599,717 8,387,439

Excess of Assets .. 6,788,920 7,2-0,272 It thus app ars that the banks have been enabled during the quarter, to lessen the amount of capital engaged in the colony (represented by the excess of assets over liabilities) by more than £400,000, improving the outside relations of the banks to that extent. This has probably been effected by means of drafts negotiated against shipments of produce. At the same time, as shown above, the local reserves of coin have been strengthened by an increase of £200,000, This easier state of things is no doubt the explanation and justification of the reduction in the terms offered for deposits to which we have before referred. In the open market the supply of money is rather less restricted, though still a good deal short of the demand, and from 10 to 12a- per cent, is paid, on mortgage of real esta e. In Dunedin, we hear, money is more plentiful and obtainable at from 8 to 10 per cent., and we trust ere long, to see lower rates ruling in this market. MELBOURNE MARKET. Messrs. J. H. Clough and Co., of Melbourne, report large quantities of grain coming forward, and though a con-iderab'e quantity is going into store, to be held in the hope of better prices ruling, sufficient is being placed on the market to cause a reduction in values of barley and oats, while an impetus has been given to wheat, and an advance of about 2d per bushel has been obtained for shipping lots and prime parcels suitable for seed. Certain vessels, now about c osing, have reduced their rates of freight in order to fill up their cargoes, and whether the advance secured wi.l be maintained is uncertain. Wheat.—As above mentioned, prices for good and shipping lots are about 2d per bushel better, and there is also a slight improvement noticeable in inferior and medium lots. Inferior to ordinary, 3s 2d to 4s ; ordinary to average, 4s Id to 4s 4d. Good to inferior, 4 5d to 4s 7£d. Oats. —Little if any improvement can be noted in this market as the quantity coming forward prevents any advance in prices ; 2s to 2s 4d for medium feed, and from 2s 6d to 2s 7d for good to best qualities. Barley.—There is little interest displayed for anything but prime malting lots. Inferior to good fetches from 3s to 5s 4d per bushel, and feeding from 2s Id to 2s fid ; prime malting, to 6s 6d per bushel. Maize. —A steady trade is being done at 3s Id for good samples.

BY TELEGRAPH. TIMARU, February 27 Very few transact’ons have as yet taken place in the new grain deliveries, which are very light. Merchants’ pvioes are 3s 3d to 3s fid for wheat; Is 3d for oats ; 2a 3d to 3a 3d for barley ; but farmers are disinclined to accept these at present. The weather a still very changeable.

CHRISTCHURCH, February 27. The grain market ouring the week has been moderately active. Wheat has ease • a shade ; buyers are not offering over 3s 9d for g od milling lots. There is very little doing in oats, farmers not caring to bring forward parcels at the rates rn ing unless compelled ; present quotati ms. Is4d to Is 5d for feed, and Is fid to Is 7d for milling. A considerable number of samples of barley are brought forward ; buyers are offering 3s 3d to 3s fid for average quality ; first-class commands an advance on this quotation, say of Id to 2d. Flour is quoted at LlO 10s to LU 10s,

DUNEDIN, February 27,

Mr. Bradshaw reports • —Bank of New Zealand, £l9los to £2O; National Bank. 625; Colonial Bank, 40s : National Insurance. 20s fid ; New Zealand Insurance, £4 5s ; South British, 42s ; Union, 15s ; Colonial, 7s; National Mortgage, 20s, ex dividend ; Colonial Investment and Agency, 20s ; Scottish and New Zealand Investment, 21s; Guthrie and Larnach’s Timber and Hardware Factory, 50s. Prime fat beef, 25s per lOOlbs; mntton, l!jd per lb; wheat, 4s 3d to 4s fid; fowl wheat, 3s 3d to 3s 7d; oats. Is fid to Is 9d; barley, 5s to 5s fid; hay, £4; new oaten hay, £3 ss; chaff, £3 10s; straw, £2; bran, £4; pollard. £5; flour,. £ll to £ll 10s; oatmeal, £11; pearl barley, £26; onions, 7d; new cheese, 4d to fid; rolled bacon, lOd; hams, Is; p itatoes, £3 10s to £4 per ton.

AUCKLAND SHARE MARKET. (FROM OUR OWN CORRESPONDENT.) AUCKLAND, February 28. Mr. Alexander Saunders reports : Buyers : New Zealand Insurance, 455; New Zealand Shipping, 695; Loan and Mercantile, 85s ; National Mori gage, 19s ; Union Insurance, 14s fid; Auckland Gas, £8 ss. Sellers : Bank of New Zealand £l9 15s; South British, 42s 6d ; Colonial Bank. 41s ; Moanataiari, 52s Od; Alburnia, 70s ; Thames, 25s ; Kurunui Hill, 6s Cd ; Caledonian, 255.

THE WELLINGTON MARKETS. Wholesale Prices. Farm and Dairy Produge.

Timber, —Boards and Scantling, 100 ft., 9s. to 15s. • 11s. 6d. at mill; planed, tongued and grooved, 11s. Od. to 12s. sd. Reminiscences of Wellington.— In the year 1845 a worthy citizen plodded his way with some difficulty through fern and ti-tree to Te Aro Flat, being in search of the surveyor’s peg which had been driven in at the corner of what is now Cuba and Dixonstreets. Upon this spot was erected a small house, in which a very successful drapery business was carried on by two ladies of remarkable talent and energy, who have long since retired from the scene to the land of tneir birth — “ Land of the mountain and the flood, Land of brown heath and shaggy wood. In the year 1866 it passed into the hands of Mr. James Smith, the present proprietor, who gave to the premises the appropriate name of Te Aro House, and under whose management business has steadily pro gressed with the rising fortunes of the city, until at length it was found that a very considerable enlargement was necessary, and the result was, Te Aro House, as at present, one of the most complete and Extensive Drapery Establishments in the colony of New Zealand. The General Drapery occupies a large space, being 49 feet by 26 feet, amply sufficient for all Manchester goods, Fancy Dresses, Silks, Gloves Hosiery, Ribbons, Laces, &c. The Men’s, Boys’ and Youths’ Clothing Department measures 42 feet by 14 feet, and has attached a comfortable fitting-room. Carpets and Household Furnishings have a similar space allotted to them. The Show-room for the sale of Millinery, Mantles, Jackets, Costumes, &c., is a very spacious apartment, elegantly fitted up, and beautifully ligli.ed from the roof, and measures 39 feet by 22 feet. The stock of goods is at all times large and well selected, and patterns are forwarded post free on application. A special feature at Te Aro House is the Order Department, and very careful attention is paid to the wants of Country Residents. All orders are executed under the immediate supervision of the proprietor, are securely packed and forwarded to their destination with that promptness and despatch which have always distinguished Te Aro House. Ouba-street. Wellington. 4 dvt.

HER MAJESTY THE QUEEN has been graciously pleased to intimate, through Lieutenant-General Ponsonby, says the Morning Post, her approval and acceptance, with thanks, of a copy of Mr Streeter’s new work on Precious Stones and Gems.” Advice to Mothers I—Are1 —Are you broken in your rest by a sick child suffering with the pain of cutting teeth ’ Go at once to a chemist and get a bottle of Mrs. Winslow’s Soothing Syrup. It will relieve the poor sufferer immediately. It is perfectly harmless and pleasant to taste, it produces natural, quiet sleep by relieving the child from pain, and the little cherub awakes “as bright as a button.” It soothes the child, it softens the gums, allays all pain, relieves sind regulates the bowels, and is the best known remedy for dysentery and diarrhoea, whether arising from teething or other causes. Mrs. Winslow’s Soothing Syrup is sold by medicine dealers everywhere at Is. lid. per bottle. Manufactured at 493 Oxford street. London. — Advi.

Anemic for several years’past, I could neither stand nor digest any food. Few bottles of Dusart’s syrup have brought back my appetite and restored my former strength. I likewise gave this medicine tose you'-g rickety infant of mine; all traces of diseaedisappeared, and the child’s constitution is well developed.—Mrs. Johnson, Washington, United States. —FA DVT. )

After having, for sevcal months, vainly used all the preparations of copaiba, cubcbs, <kc., extolled up to this day, I despaired curing myself, when I was advised to resort to the Griniav.lt and Co.’s Mat\co Capsules and Liquid. In about ten or twelve days all traces of disease disappeared, and my cure maintain* itself complete.—J. D., Captain of Merchant Ship. —{A»vr J

February :— £ s. d. £ s. d. Spirits 3315 0 0 Coffee, &c. .. 67 12 6 Cigars and Sugar 818 11 5 Snuff 249 4 7 Goods by Tobacco 1499 2 3 weight 469 14 5 Wine 463 18 11 Ad valorem 3302 7 11 Aleflanrl Beer, Other duties 274 19 9 in bottle .. 160 9 5 Do., wood 40 6 0 Tea .. 399 9 9 Total ..£11,062 18 1

s. d. s. d. S. d. s. a. Butter fs, lb 0 8 to 0 £ ! Lard, lb .. C OtoO 8 Butter, sit, lb 0 8 —0 9 1 Bacon, Pro.. C 7—09 ■Retail Price. Milk, quart., 0 4 to 0 6 Fowls, pair.. 6 Oto 7 9 Butter, fs,, lb 1 0 - -0 0 Ducks, pair.. 7 0—8 9 Butter, salt.. 0 8 - -0 9 Geese, each.. 7 — 8 0 Cheese, Col.. 1 0 - -0 0 Turkeys, do. 6 0 — 10 9 Eggs, dozen 2 6--0 0 Bacon, lb .. 0 0—1 2 Lard, lb .. 0 0--0 10 Ham, lb .. 1 0—1 2 Flour Market. ■Wholesale. £ s. d. Superfine Flour, silk dressed, per ton 12 0 9 Flour, ditto, household 11 0 9 Seconds, per ton.. 0 0 0 Sharps, per ton .. 8 0 0 Adelaide, per ton 18 0 © Oamaru ditto 13 0 0 Dunedin, dit 11 0 9 Canterbury, ditto 12 10 0 Bran, per ton £4 5 Hay and Corn Market. s. d. s. d. £> s. £ s. Maize, Sydney 0 0 to 4 3 Hay, ton .. 5 0 —0 © Do. Crushed 4 6 - - 0 0 Oaten, ditto 0 0 — 6 0 Oats (South). .3 0--3 3 Lucerne, dittod 10—0 0 Wheat (fowl) 5 6 - -0 0 Straw, ditto 5 11 — 0 0 Potatoes ..7 0--0 0 Chaff, ditto 6 0 — 0 0 Seeds Ryegrass, bsh. 7 0to8 0 Alsyke, lb. .. 1 2to0 0 Do. Pov. B.,do.S 0--0 0 Cow grass, do...l 3—0 0 Cocksfoot, do. 10 0 —0 0 Rape, do. .. 0 6—0 0 Wt. clover, lb. 1 2--0 0 Lucerne, do. .. 1 6- 0 0 Red do. do... 1 0--0 0 Timothy, do. .. 1 0—0 0 Rabbits, pair 1 6 — -9 0 Carrots .. 4 6 — 5 0 Cabbages, dz 2 0 — -3 0 Potatoes .. 1 0—0 10 Turnips, doz 2 0 — -3 0 Bread, 4d. to 5d. 21b. loaf. A’d veg’bl, dz 2 0 — -2 6 Retail. a. d. s. d. s. d. s. d. Maize .. 5 0 to 0 0 Peas .. 5 6 to 0 0 Oats ditto .. 3 6 — 0 0 Do. crushed 6 6—0 0 Bran, ditto 1 0 - -0 0 Lucerne, cwt. 0 0 — 7 6 Wheat (fowl) 4 0 - -4 6 Oaten, ditto 5 10-0 0 Hay, cwt. .. 5 6 - -6 0 Straw, ditto (3 10 — 0 0 Beans .. 5 6 - -0 0 Chaff, ditto- 6 10—0 0 Do. crushed 6 0 - - 0 0 O’Slieath’s do. 6 0 — 0 0 Brocolo from 0 — 0 0 Building Materials.