Commercial News.

New Zealand Mail, Issue 422, 13 March 1880, Page 13

Commercial News.

The Customs duties collected at the Port of Wellington for the week ending March 6, amounted to £4249 Is 9d.

Messrs. Stevenson and Smith report:—Sales : Union Insurance, 15s; National Insurance, 22s 6d ; Sellers : Bank of N.Z., £2O; Colonial Bank, 41s; Colonial Insurance, 41s ; National, 22s 6d ; Colonial Insurance's. Buyers: Bank of New Zealand, £l9 ; Colonial Bank, 39s ; National Bank, 60s ; New Zealand Insurance, 42s 6d; New Zealand Loan and Mercantile, 82s 6d; National Insurance, 20s; Wellington Trust and Loan (old issue), 4s premium ; New Zealand Shipping, 71s. Messrs Croskery, Hasell, and Co report sales last week : —Flour, Ll 3 per ton ; oatmeal, Ll 4 per ton ; pollard, L 5 10s per ton ; wheat, 4s 6d to 5s per bushel; bian, 8d per bushel; cheese, 6d to 6jd per lb ; hams and bacon lid to Is per lb ; eggs,- 2s to 2s 2d per doz; apples, 4s to 6s per case ; pears, 14s per case ; peiches, 10s per case; plums, 9s per case ; cucumbers, Is per doz ; onions, ljd per lb. Mr. J. H. Wallace offered for sale by auction on Wednesday, Mar 10, the plant used in connection with the erection of the new Hospital at Newtown, and comprising a 14 horse power portable steam engine with a quantity of gear, a brickmaking machine, and a large number of other articles. There was a fair attendance, but the bidding was very slack, and the prices obtained unusually low. The steam engine was started at £125, and after being raised to £135 by £5 bids, was withdrawn, with the remark that the trustees present did not feel justified in selling it for less than £2OO. Mr. E. W. Mills, who had made the last bid, then bid £2OO, and became the purchaser. The same gentleman bought the brick-making machine for £17105., remarking that he only intended to knock it to pieces as old iron. The iron tank fell to Mr. Stanton at £2 155., and two others mounted on trucks together, for £7 10s, to Mr. Mills. The bricks were put up on condition that the highest bidder had the choice of taking 10,000 or the lot; 10.000 were knocked down to Mr. Morrison at 13s, and the balance to Mr. Toxward at lis per thousand. A number of other articles were disposed of at equally low rates.

The New Zealand Loan and Mercantile |Agency Company have received the following produce telegram dated London, 2nd March. Wool. The sales progress firmly ; they comprise about 187,000 bales. .List now closed 26,000 bales have been sent to the manufacturing districts direct. The sales will close on the 12th. Up to date 121,000 bales have been sold. The principal advance has been in cross-bred, superior greasy, superior combing, washed, and scoured. Competition by both Home and foreign buyeis is active. The next sales will commence on the 20th proximo, 350,000 bales being admissable. Tallow. —The market is quiet, best mutton being worth £37 and best beef £35 10s per ton. Foreign arrivals are light. Wheat.—Adelaide is worth 60s and New Zealand 57s per 4961b5. Leather.—The market is fiat. THE NEW ZEALAND LOAN AND MERCANTILE AGENCY COMPANY, LIMITED. FIFTEENTH ANNUAL REPORT. The fifteenth annual general meeting of the New Zealand Loan and Mercantile Agency Company was held at London on the 9th February, when the report presented again showed that the operations for the year had proved highly remunerative. The following are the principal clauses of the report : " The net profit for the year 1879, inclusive of £3824 4s 2d brought forward from the preceding financial year, after deduction of expenses, interest, commissions, and income tax, writing off stationery and furniture, and making ample provision for all bad and doubtful debts, shows a sum of £53,215 14s 2d, of which the directors recommend the following approoriation, viz. : £ s. d.

To payment of a Dividend at the rate of 10 per cent, per annum, and interest on calls paid in advance on old shares .. .. 30,060 12 4 To payment of bonus at 5 per cent. 14,984 11 8 To be carried forward .. .. 8,170 10 2

£53,215 14 2 " In July last an ad interim dividend was paid at the rate of 10 pei cent, per annum, amounting, with interest on calls paid in advance, to £14,358 12s lOd, so that there is now left for distribution the sum of £30,686 lis 2d."

The report further states that although commerce has been very much depressed, it has not been considered advisable to increase the reserve fund, which remains steady at £160,000. The debentures of the company have been so rapidly taken up that the limit of the borrowing powers has been reached. The debentures and fixed deposits amount to £2,657,725. The debtor side of the balance-sheet shows that the capital amounts to £300,000, exclusive of £14,320 paid in advance. These amounts, together with the debentures and fixed deposits, make a clear profit for the year of £53,215 14s 2d, and several other items bring the total up to £4,036,151 lis 7d. The principal assets consist of £142,868 9s lid cash in hand, £2,441,996 13s 4d loans on mortgage, and £594,289 9s lOd advances on produce. The expenses for the year amounted to £40,107 13s Id.

From a list of London importers of wool we gather that the company received during the past year 83,972 bales from Australia and 45,180 from New Zealand. The extent of its business in this respect will be understood when these figures are compared with the quantities received by other firms. The two next highest importers from Australia are Messrs. Dalgety, Du Croz and Co., 65,368 ; and the Australian Mortgage, Land, and Finance Company, 58,897 bales. In New Zealand the National Mortgage and Agency Company occupy second place with 15,885, and Dalgety, Du Croz and Co., 11,009 bales.

BY TELEGRAPH. (UNITED PRESS ASSOCIATION.)

CHRI3TCHURCH, March 4. Wheat. —The market is a shade firmer in tone, and all parcels offering for delivery within the next three or four weeks are readily taken up at 3s lOd to 3s 10£d at Christchurch, and 4s for parcels put on board at Lyttelton. There is a good number of buyers in the market. There have been several large lots brought forward during the week, but the demand being above the-buyers' limits, these lots will find their way on board ship on growers' account.

Oats do not present any change in quotation. The quantity offering is not large, farmers holding back. We repeat prices at Is 4d to Is 5d for good feed, and Is 6d to Is 7d for milling. Several parcels of oats are being put into the English vessels now loading on grower/ account, as an experiment. This has been induced partly through a concession in the rates of freight having been granted by the several Shipping Companies. Barley.—Sales are being made at 3s 3d to 3s 6d for good average lots. Prime samples, of undoubted quality, have been quoted up to 3s 9d. Flour is quoted by millers at £lO 10s to £ll, sharps at £4, bran at £3 ; oatmeal has been reduced to £ll for 251 b. bags. Grass seed is without alteration, and lots hard to quit, priees remaining at 2s to 2s 6d. Cocksfoot is held largely, and buyers will not give more than 2s 2d for large lines. Dairy Produce. —Butter, 6£d to 7jd ; cheese, 4|d

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BLENHEIM, March 4. Mr O'Sullivan reports wheat 3s Sd to 3s lOd ; barley, 3s to 3s 9d ; oats, Is 2d to Is 4d ; rye grass seed, 2s 6d. These prices are offered, but farmers are holding out for advance. Redwood's flour, old, £l4; bran, overstocked, Is per bushel; pollard, £5. Potatoes, nominal, 50s ; cheese, 8d ; bacon and hams, 9d and lOd.

Stock.—Fat cattle, 20s per lOOlbs ; store steers, £4 to £5, scarce ; milch cows, £6 to £9 ; fat wethers, Gs to 7s; store do, 2s 6d to 3s 6d. Horses, heavy draught, £25 to £35 ; Hacks, £8 to £l4.

DUNEDIN, March 5. Kempthorne, Prosser and Co. (Limited). —The report to 31st January, ISB3, shows a profit for the period of 13 months amounting to £9702, on) paid-up capital, £71,017. The directors I recommend that the amount paid for the goodwill, £7500, be written off, and that the balance, £2202, be carried forward, in preference to declaring a dividend.

Wheat, 4s 4d to 4s 6d per bushel ; fowl wheat, 3s[3d to 3s 7d; oats, Is 6d to Is Bdr barley, 5s to ss6d; feed, 3s to 3s 6d; potatoes, £3 10s to £4, according to qua]ity; ground potatoes, £3; old hay, £4; new oaten hay, £3 4s ; chaff, £3 10s ; straw, £2 ; bran, £4: pollard, £5 ; flour (large sacks), £ll to £ll 15s ; flour (small), £11; pearl barley, £26 7s; new cheese, 5d to 6d ; bacon, rollen, lOd ; hams, Is; sides bacon, lOd. There is no activity at present in produce of any kind, the buyers waiting for newcrop. Prime fat beef, ; 24s per 1001 b ; mutton, If* per lb. Mr. Bradshaw reports .-—Bank of New Zealand, £l9 15s to £2O ; Colonial Bank, 40s ; National Bank, 61s: National Insurance, 20s 6d ;' Colonial Insurance, 7s : Union Insurance, 15s; South British Insurance, 42s ; New Zealand Insurance. 51s ; National Mortgage and Agency, 20s, ex dividend; Colonial Investment and Agency Company, 20s ; Scottish and New Zealand Investment, 21s ; Mosgiel Woollen Factory, 60s; Guthrie and Larnach Company, 50s.

AUCKLAND, March 5.

Business shows no improvement whatever, but, on the contrary, there is a more despondent tone, as prices of produce generally are on the decline in the local market. Another reason assigned is that bills which fell due yesterday were not met with that promptitude which has characterised the last month's transactions, and this is more surprising as money is much easier, and is now available for mortgage at 1 to 1J per cent, less than formerly. Salt is again scarce, with little coming forward. £5 10s for a large line of coarse and fine has been refused, holders requesting £6. Galvanised iron continues to meet with fair enquiry, and Gospel Oak has again been placed at £32, and other brands about £3O. Flax has been exported to Australian markets in large quantities, and good samples readily command from £lB to £2l. Oats still continue very low in value, and there appears no probability of an improvement—sales at Is 9d to Is lOd for a large line. Hops have been inquired for, and a large line of Nelson, of 1879, in fair condition, sold at Is 3d to Is 4d for export. A much less figure was previously offered for the same lot. Potatoes are being poured into the market, and it is very difficult to place a line at even £3. Cheese is overstocked, but a first-class line of Canterbury has been sold at 7d.

TIMARU, March 5.

Harvest operations are retarded by bad weather, wh ch is seriously affecting crops. Market is still inactive, owing to small deliveries. Wheat, nominally, 3s 3d to 3s 6d; oats, Is 3d ; barley, 3s.

THE WELLINGTON MARKETS., Wholesale Prices. Farm and Dairy Produce.

Timber, —Boards and Scantling, 100 ft., 9s. to 155.lis. 6d. at mill; planed, tongued and grooved, lis. 6d. 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 their 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 progressed 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 largo 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 lighted from the roof, and measures 89 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, Cuba-street, Wellington. Vdvt. ■ ,■, IM ~ ,;

s. d. s. d. s. d. s. d. Butter fs, lb 0 8to0 9 | Lard, lb . 0 0to08 Butter, sit, lb 0 8—0 9 ( Bacon, Pro, .. 0 7 — 00 Retail Price. Milk, quart.. 0 4to0 6 Fowls, pair.. .6 0to7 0 Butter,fs., lb 1 0 — 0 0 Ducks,pair.. , 7 0—8 0 Butter,salt.. 0 8 — 0 9 Geese, each. .7 —8 0 Cheese, Col.. 1 0 — 0 0 Turkeys, do. 6 0 —10 0 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 0 Flour, ditto, household .. ..not .. 0 0 0 ..800 .. 18 0 0 .. 13 0 0 .. 11 0 0 .. 12 10 0 Bran, per ton .. £4 5 Hay a>d Corn Market. s. d. s. d. & s. £ s. Maize, Sydney 0 0 to 4 S Hay, ton .. 5 0—0 0 Do. Crushed 4 6 — 00 Oaten, ditto 0 0 — 6 0 Oats (South)..3 0 — 3 3 Lucerne,dittoS 10—0 0 Wheat (fowl) 5 6 — 00 Straw, ditto 5 11 —0 0 Potatoes ..6 0 — 0 0 Chaff, ditto 6 0—0 0 Seeds Ryegrass, bsh. 7 0to8 0 Alsyke, lb. ..1 2to0 © Do. Pov. B.,do.8 0—0 0 Cow grass, do ...1 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 — 0 0 Carrots 4 6 — 5 0 Cabbages, dz 2 0 — 2 0 Potatoes 1 0—0 10 Turnips, doz 2 0 — 2 0 Bread, 4d. to 5d. 21b. loaf. A'dveg'bl, dz 2 0 — 2 6 Retail. b. d. s. d. s. d. s. d. Maize .. 5 0 to 0 0 Peas 5 6to0 0 Oats ditto .. 3 6—0 0 Do. crashed 6 6 — 0 0 Bran, ditto 1 0 — 0 0 [ Lucerne, cwt. 0 0 — 7 6 Wheat (fowl) 4 0 — 46 Oaten, ditto 5 10- 0 0 Hay, cwt. .. 5 6 — 6 0 Straw, ditto 6 10 — 0 0 Beans .. 5 6 — 0 0 Chaff, ditto 6 10 —0 0 Do. crushed 6 0—0 0 O'Sheath'sdo. 6 0 — 0 6 Brocolo from 0 — 0 0 Buii/»ing Materials.