LATEST COMMERCIAL NEWS.

New Zealand Mail, Issue 704, 28 August 1885, Page 12

LATEST COMMERCIAL NEWS.

New Zealand Mail Office, Thursday Evening.^ The suspension of payment of Messrs. Neill Brothers, general merchants, of Dunedin, has been the principal feature of the .past week in commercial circles. The liabilities are stated at L 60,000, but it is generally thought that this sum is under-estimated. It is reported that the firm’s bankers are fully secured, and the principal creditors are Messrs James Henty and Co., Melbourne; Wellington merchants are not largely interested. The week’s business has been up to the average, without any material alteration in values. Although sugar has a firmer tendency there has not been any alteration in the prices of Com pany’s qualities; China sugar is selling freely at late quotations, and American granulated finds much favor at L2B and L2B 10s. The following is from the Australasian of the Bth instant : —“Trade in sugars has been brisk, and the market closes very firm. Fine dry whites have been in favor, and almost all available parcels have been taken up by brewers. The trade are coming to the end of their stocks purchased during May and J une, and are therefore again on the market. Holders, however, are very firm, and are strengthened in the position by further news from Mauritius. A cable message received states that the market there was firm, and that there was an active demand for Bombay. The message also stated that the crop was delayed. This, of course, means’ that we shall not receive ahy new sugars as soon as was anticipated.” A good seasonable demand exists for woolpacks ; sales are reported at 2s to 2s 3d. Currants of prime quality have inquiry at 4Jd for cases, and 4J to 4fd for casks ; elemes are scarce at 6-jd to 6vjd.; sultanas are overstocked, and may be quoted at Salt—Sales of new fine have been effected at 85s ; coarse is quoted at 80s. Soda—Crystals are scarce, and worth L 9 per ton. Kerosene oil sells slowly, 130 test is quoted at Is 5Jd to Is 6d per gallon, <3. p.; castor oil is firmly quoted at 3s 3d to 3s 4d per gallon ; colza boiled and raw oils are in ample supply at late quotations. Stocks of corrugated iron have been augmented during the week, and a good steady demand is reported at L2O to L2O 10s per ton ; fencing wire No. 6 is scarce ; a parcel of No. 8 changed hands, ex ship, atLll 15s ; barb wire has the usual inquiry at L 29 to L3O per ton. Colonial Produce—New Zealand flour is unaltered, bakers’parcels beingquoted at L 8 10s for best brands ; chick wheat is quoted at 2s 9d, with a fair trade demand at Is lid to 2s 2d; cheese is firmer, being quoted at 5Jd, f.o.b. South ; butter is scarce, and worth Is per lb ; it is, however, anticipated that there will be a considerable drop in price during next week. Dunedin, August 26. The New Zealand Loan and Mercantile Agency Company (limited), report (per Mr D. Stronach), as follows 229 cattle were yarded. The best brought L 8 10s to Lll 10s; prime beef brought 255; ordinary, 17s 6d to 20s. Sheep—2o9o were penned. Best crossbred wethers brought 14s 3d to 18s 3d ; others, 10s to 14s ; merino wethers 8s to 13s. One extra prime pen brought 21s. Prime crossbred mutton brought 2fd ; merino, 2d to per lb. 101 pigs were yarded. Nearly all suckers sold at from 7s to 14s ; porkers and baconers are in better demand, the former realising 30s to 40s, and the latter 41s to 50s. Christchurch, August 26. The New Zealand Loan’ and Mercantile Agency Company (limited), report (per Mr E. Gr. Staveley), as follows : —At Addington market to-day there was a small entry of cattle, and fair sales. Store beef sold well, best quality bringing 20s per cwt. The supply of fat sheep was good, and values were unaltered. Mutton averaged per lb. Store sheep were in good inquiry ; superior hoggets fetched 13s. There was a large entry of pigs, and prices declined considerably.