LATEST COMMERCIAL NEWS.

New Zealand Mail, Issue 871, 9 November 1888, Page 16

LATEST COMMERCIAL NEWS.

New Zealand Mail Office, Thursday Afternoon. Daring the past week there have been no important events to chronicle in the commercial world. The arrivals in this port have been of small amount, save for the Taiyuan, which brought only a moderate supply of tea for this district, and that principally of the cheaper grades. Notwithstanding the decrease in the export of tea from China prices are fully maintained. Hops arc slightly firmer. The Australians are still buying in the Nelson market. Last week 216 bales were exported from that city principally for Melbourne and Sydney. A late trade circular from London states: “The partial failure of the hop crops in England and on the Continent this year will create an opening for the New Zealand and Australian article.” The Nelson people will it is believed, learn tbi3 truth too late, as they have parted with the greater bulk of their stock to Australian buyers. It is not generally known that New Zealand brewers require about 200 tons of hops per annum, and it is calculated that the present year’s yield from Nelson was only about 180 tons, of which Australia has already taken 75 ions. The British consumption of hopsisabout 33,000 tons yearly and that even with an average crop at Home, England has to import over 7000 tons. It is to be regretted for the interests of the Colony generally that the Nelson people have not paid more attention this year to the cultivation of hops. Although they may not reach the fancy price of a few years ago, there is every probability that at least 2s will be reaohed before long, and at such rates hop-growing will pay handsomely. Oats are firmer, and are worth, locally, 2s 8d In sympathy with this grain, oatmeal is "quoted at an advance, and is now worth £ll- The present drought in Australia will have the effect of hardening the grain trade all round. In provisions the demand for high-class makes is As English and American buyers are in this country, there is likely to be a keen competition a first-class article In Sydney New Zealand butter is quoted at 9d to Is, and the market is quoted bare f°r cheese. Prime quality is making there from 8d to 91. The prospects of the wool trade are fairly cood The lambing season promises to bo one ot the best for many years past. fLondon wool circular, dated September 21st, says :—The trade generally appears to be in a sound condition and stocks of the raw material in the principal European markets are light, so that there is every reason to hope for at least a maintenance of present values up to the end of the year. The wheat trade still continues firm with every prospect of hotter prices. The crop of this season m fhis Colon? is expected to be the largest on record In the county of Ashburton alone it is estimated that 8500 acres are planted this season with wheat, and as the crop, so

far, looks well, the probable yield wfll be the means of putting good money into the farmers’ pockets. The colonial ooal trade i 3 in a prosperous state at present./ The output from the various mines is large. During the month of October the output from Greymouth was as follows; Grey Valley Coal Company, 17,331 tons 4 ewt ; Westport Coal Company, 14,556 tons 10owt. The Newcastle coal export trade is almost at a standstill. The Stockton and Great Northern colleries have resumed work, but have only despatched three foreign vessels I during the month of October, the bulk ot their output being reserved for home consumption. In the metal and hardware trade there is a general impression that present prices will be maintained, and there is no disposition to push sales. Cement, is firmer, and the demand bettor. The Napier harbour works have sent an ordor Home for 5000 casks of cement. Groceries in all lines are at late quotations, and business is reported to be fair, 'laking trade all round the outlook is sheerful, and there is every prospect of a better era setting ln ’The Pastoral, Finance, Trust, and Agency Company of Australasia write on the 24tli ot October: —“At a meeting of the Directors, held at the Company’s office on Friday, the 19th instant, at 3 o’clock p.m., the following resolution was carried :—That the Company should, at an early date, be declared formed; and that the Secrotary call the necessary meeting of the several Provisional Direotors for that purpose, having regard to the date of simultaneous closing for the receipt of ap. plications and the legal notice, necessary in accordance with the articles.” Messrs Lowes and lorus report at their sale yesterday : —They yarded 250 head cattle, besides sheep, horses, &0., all selling under the hammer. All lines were equal to previous quotations, thedemand being principally for large ford bullocks and young cattle. The following were the rates obtained :—Beef, £5 5s or 13s 6d per 1001 b ; large bullookß, £3 10s to £3 18s ; store steers, 55s to 65s ; small, 45s ; yearlings, 25s to 2Ss; ford cows, 50s ; store cows, 30s: dairy stock, £2 10s to £3 18s. Sheep at last sale’s rates ; horses nominal.

KAYE AND CARTER’S WEEKLY REPORT OF THE CHRISTCHURCH GRAIN AND PRODUCE MARKET. Wheat—Tuscan, 4s Id ; Pearl, 3s lljd ; Hunter’s, 3s Ud, firm. Fowlwheat—Good whole, 3s 6d to 3s 7d ; broken, 2s lOd. Oats Milling, 2s 6d ; bright short, 2s 4d to 2s 5d ; good short, 2s 31d ; duns, 2s 2d ; black, 2s 2d ; Danish, 2s 2d. Barley—Prime malting, 4s 6d ; malting, 4s 4d ; feed, 2s lOd ; Cape, 3s Id; pearl, £2O. Peas—Prussian blue peas, 2s lid; white, 3s; dun, 3s ; split, £l4. Beans —Good whole, 3s Id; medium, 3s. Flour —Roller, £10; stone, £9. Bran—Bos ; sharps, 75s ; pollard, 755. Oatmeal (in 25's), £lO 10s ;in 7’s, £l2. Ryecorn, 3s6d;Linseed, £l4 10s. RyegrassMachine dressed, 3s to 3s 3d ; farmer’s lots, 2s 6d. Cocksfoot—Heavy dressed, 3£d ; medum, 3ld to3id ; seconds, 1-Id to 2d. Oat-sheaf chaff £3 7s6d. Hay (baled), £3 15s.Hops, Is, f.o.b. Nelson. Honey, 4d. White clover, 75a and 80s per cwt ; red clover, 603 ; Alsike, 755. English cowgrass, 82s 6d and Sss ; Timothy, 42s 6d to 455. Potatoes —Prime Derwents, 70s to 755. Butter, 7d to 7-jcL Cheese — Loaf, 5d ; medium, 4id, firming. Hams, S£d ; bacon, 6£d ; H and B, 7d. Lard (in bladders), above prices current are all f.0.b., Lyttelton ; sacks and packages extra except when otherwise specified.