COMMERCIAL NEWS

New Zealand Mail, Issue 880, 11 January 1889, Page 12

COMMERCIAL NEWS

Messrs Lowes and lorns report of their Maßterton stock sale on Monday :—Sheep of all classes were in full supply ; very few cattle came forward, all lines selling under the hammer at previous In sheep, a pen prime heavy-weight fat wethers, prize-takers, made 12s ; ordinary, 9s; store wethers, 63 to 8s 6d ; store ewes, 5s to 6s ; ewes and lambs, shorn, 6s 6d ; lambs, 5s to 5s 6d ; dairy cows, yearlings, and mixed stock at last sale’s prices. A few cheap horses changed hands. Messrs Freeman R. Jack3on and Co.’s (Johnsonville) stock report:—At the yards yesterday a moderate supply of beef came forward, meeting with a fair demand. The bullocks were of medium quality and light in weight. The cows were a good lot. Sheep were in average supply ; lambs in fewer numbers. The pigs advertised did not come to hand. Bullocks made from £4 17s 6d to £5 12s 6d, averaging £5 6s ; cows, from £3 12s 6d to £4 2s 6d, averaging £3 17s lOd ; sheep, best wethers, 10s 9d to 11s; others, 10s Id to 10s 4d ; best ewes, 93 ; others, 7s 3d to Ss ; lambs, 5s 10s to 8s ; bullock beef, 13s the lOQlbs ; cow, lls ; mutton, If d to 2d per lb. Laery and Co. report for the paßt week : Potatoes,, £7 10s to £8 10s ; onions, lsd, scarce ; oats, 3s 4d to 3s 6d, stocks light, no one inclined to operate, anticipating abundant harvest and lower prices, as the demand for Sydney has ceased for the present, holders there pushing off stocks before the last rains are felt. Pollard, £5 to £5 ss|; bran, £4 10s to £4 15s ; chaff, 70s to 90s ; maize, 4s 6d. The above remarks also apply to pollard, bran, chaff, and maize. Milling wheat, easier, 4s 3d to 4s sd, very little offering ; fowls’ wheat, scarce, 3s 6d nominal; malting barley, 3s 6d to 3a 9d, no inquiry ; feed barley, out of the market; flour, easier, £ll 10s to £ll 15s; oatmeal, £lB nominal, no business doing ; bacon, 6d to 7sd ; hams, 7d to 9d ; cheese, sfd to 6d for large size ; loaf cheese, 7d ; fresh butter, Sd to 9d ; salt butter, 9d nominal, very little doing ; eggs, 9d. Fruit of all kinds scarce and in good demand at fair prices. Oranges and lemons, season over ; pines, 5s 6d; bananas, 3s 6d to

6s ; figs, 7s 3d to 8s ; dates, 5d ; inferior sorts, 4d ; Barcelona nuts, 6d to 6sd ; s.e. almonds, 9d; grass seed, without any inquiries. The Customs duties collected at the port of Wellington for the week ending Saturday amounted to £3183 9s 7d. Baer duty, £144 6s Bd. George Thomas and Co. report produce prices as follows : —There are no special features of alteration to note in the grain trade during the past week. Market prices for almost every line are exceedingly languid, and show tendencies toward further reductions, for which the quietude in Australian markets may be held responsible. Oats are ruling from 3s 6d to 3s 9d per bushel; chaff, £3 to £4 10s per ton ; oatmeal, £l7 10s ; flour, roller process, £l2, stone do £lO 10s to £11; fowls’ wheat, whole 4s 3d to 4s 4d, broken 3s 6d ; bran, £4 10s ; pollard, £5; feed barley, 3s 6d to 3s 9d ; maize, 4s 6d to 4s 9d ; potatoes, round, £7 10s ; kidney samples, £8 to £8 10a , onions, £9 per ton ; cheese, ssd tc 6d ; hams and bacon, Bsd ; fresh butter, Sd ; salt butter, Sd to 9d ; eggs, lOd per dozen. The fruit market is perfectly bare, and shipments from Sydney next week should meet a responsive demand. Small consignments of cherries and plums on Saturday, from Melbourne, realised full prices, according to condition. Poultry is still dull. Fowls, 2s 6d; ducks, 3s 6d; geese, 5a ; and turkeys, 7s 6d per pair. Messrs Arthur Warburton and Co. report on the share market for the week ; Banks—New Zealand, sales £S 10s, buyers £8 10s ; Colonial, buyers 43s 6d, sellers, 445; National, buyers 355. Insurance - New Zealand, sellers 80s ; South British, 40s ; National, 40s ; Union, sales 26s (cum div); Standard, 15s ; Colonial, 4s ; Accident, 7s 6d. Miscellaneous—Loan and Mercantile, 70s ; Land Mortgage, 17s to 17s 6d (cum div) ; National Mortgage, lls ; New Zealand Shipping, 35s ts 40s; Union Steam, £ll 10s; Mosgiel Woollen, 375; Kaiapoi, 603 ; New Zealand Drug, buyers 21s 6d ; Wellington Gas (£lO paid) sales £lB (£5 paid), sellers £9 ; Wellington Trust and Loan, buyers £6 10s j Equitable Building, £7 2s 6d; Wellington Building and Investment, £6 to £6 ss; Gear Meat, sellers 85s cum div. Messrs Edwards and Mcßeath report : There is a slight improvement in the demand for female servants. Mr D. T. Stuart reports on the share market for the week to date : —Banks—New Zealand, old issue, £8 7s 6d to £8 10s, new issue, £6 2s ; Colonial, 43s 6d to 43s 9d. Insurance —National, 20s to 203 6d ; South British, 40s. Financial Loan and Merantile, buyers 71s 6d; National Mortgage and Agency, buyers lls, sellers lls 6d; Northern Land and Loan, late sales, 375. Sundries—Wellington Woollen, 28s (ex div). JOHNSONVILLE STOCK SALE. Messrs Freeman R. Jaokson and Co., Johnsonville, stock report:—The beef entered for the day’s sale was of good quality. The smallest bullocks made best price considering weight. The heavy cattle were too large for the trade, and sold at relative lower values. Some grand wethers came forward, and sold well. Some of the ewes were only half fat. Lambs were fairly well competed for, and made late rates. Pigs were at lower values. The stores were a rough lot; and in a low condition. Small beasts made 14s, and large cattle 12s 6d the lOOlbs. Mutton, lfd per lb. Cattle—Bullocks, £5 7s 6d to £6 2s 6d, averaging £5 lls 6d, others averaged £5 7s 6d and £5 ss, and one pen of very small bullocks £4 17s 6d. Sheep Best wethers averaged 12s, others 9s ; best ewes 10s, others 7s la to 7s 9d ; lambs, 6s 4d- to 7a 6d. Pigs—-Small baconers, 27s to 37s 6d ; porkers, 18s to 23s ; stores, Yst 6d to 14s ; small pigs, 6s. PALMERSTON NORTH STOCK SALE. January 9. At Messrs Stevens and Gorton’s sale today there was not a very large entry, the weather being so bad ; the attendance also was only moderate. Everything was, however, sold, with the exception of five head of cattle, at prices about the same as at last sale. The figures realised were as under : Forward bullocks, £3 15s to £4 2s ; fat cows, £3 7s 6d ; fat heifers, £3 ; 18 months’ steers, 33a ; two-year heifers, 35a ; 18 months’ heifers, 25s ; cows with calves, 34s 6d ; fat ewes, 6s 6d to 7s 6d ; two-tooth mixed, 8s Id ; ewes and lambs, per head, 4s 7d.

WELLINGTON MARKETS.

Wholesale Prices. FARM AND DAIRY PRODUCE,

The N.Z. Loan and Mercantile Company of London report on December 1 : Corn. —As Loifdon has recently afforded the best spot market for Australian and New Zealand wheat, two or three cargoes off coast have been ordered hither. These, with direct shipments, have more than satisfied the existing demand, and were sales pressed lower rates would have to be taken. Flour, in sympathy with wheat, has been somewhat inactive and prices have receded. For the guidance of shippers of this article it may be well to mention that under the new Merchandise M arks Act the Customs authorities have recently placed a stop upon parcels of imported flour which did not bear upon the sacks the name of the country in which it was manufactured. Care must be taken by Colonial shippers to this market that on each sack the point of origin is given, as for example, "'Australian flour’ or ‘New Zealand flour.’ The new regulations are to be strictly enforced after the close of the current year. Really fine parcels of malting barley have continued to command full rates, but common sorts have proved difficult of sale. Oats, notwithstanding heavy stocks, have maintained their value. Beans have advanced Is per quarter, whilst peas with larger supplies are Is to 23 per quarter lower. Some inquiry was experienced for cocksfoot grass-seed early in the month. Buyers only offered low rates, but these sellers were willing to accept, and our quotations accordingly have Deen reduced. The .demand has again fallen off, and the trado for the time appears to be at a standstill. Tallow. —For the four public sales held during the past month, the moderate total of 3,673 casks of Australasian was offered, and 3,133 sold under the hammer. The demand throughout this period was again strong, and prices, from the first sales up to the last, steadily advanced, leaving off 4s per cwt better on mutton, and 3s on beef tallow. The speculative demand recently noticed has been firmly maintained, and consumers have been compelled to follow the increasing values. The supply of Home melt, though slightly in excess of what it has been during the past mouths, is still very moderate, being much below an average ; and with equally limited arrivals from the Colonies, the market closes firm, with every apparent prospect of still higher rates in the immediate future. Much, however, will depend on the action taken by speculators, who must at some time or other place their heavy stock, the bulk of which, estimated at over 20,000 tons, is held in Paris, on the market.

Rabbit Skins. —There was again a strong demand at the periodical auctions on 23rd instant, and of 1,158 bales submitted to the hammer 1,091 bales found buyers at advanced prices for all descriptions. Fair to good season New Zealand skins ruled 2d to 3d per lb higher, while Australian skins were also in good request at an advance of Id to 2d per lb compared with last sales’ rates. Black and fawn sold under keen competition at extreme prices. New Zealand Hemp. —The advance in the price of New Zealand descriptions, recorded in our last issue, has been further increased during the month, and 1,200 bales have been disposed of at and ex sale at full rates, viz : —Medium to good Wellington from £29 10s to £3l 30s per ton, and extra clean, of good oolour £32 10s per ton, while 180 bales of tow have been disposed of at from £lO 10s to £lO 15s per ton. The market for manila has further hardened, and to arrive values may be quoted from £2 to £3 higher than a month ago, business being done at from £4O 10s to £4l 10s per ton c.i.f. Values for Sisal continue steady at £4O per ton. Hops. —During the past four weeks businos3 in this market has been of small extent, consumers merely buying to satisfy their immediate wants, and with increased supplies of Home and Foreign growths values for all descriptions have receded. Stocks in hand of brewers are considered sufficient for their requirements until the spring of next year, when some improvement on the general low range of prices may not unreasonably be looked for-

Preserved Meats.— The trade during the past month has been restricted, bat a slightly improved inquiry has taken place among the ships’ store dealers. The demand, however, has not been sufficient to permit of holders asking higher rates, as suoh action on their part would have at once deflected orders to American descriptions, Fancy goods are entirely neglected by the store trade, and there will be no revival in the demand untii after the Christmas season has passed. Quotations romain unchanged. Importations into London during the four weeks ended 24th instant, amounted to 8,169 cases from Australia, 2,226 cases from New Zealand, and 20,697 from America, &c. Butter. —Since the date of our last report there has beeD a good supply of Continental butter. Prices have, however, been well maintained for all descriptions, and prime Normandy and Friesland have advanced about 6s per cwt. We quote l—Prime Danish, 114 s to 126 s per cwt; Normandy, 102 s to 114 s per cwt; Friesland, 98s to 108 s per cwt; New Zealand, nil. Cheese. —There has been a considerable improvement in the market for American cheese during the past week, all grades commanding more money. There is still a considerable quantity of low priced English cheese offering, but choice quality Is scarce. We quote : —Prime American, 50s to 58a per cwt ; prime New Zealand, nil ; secondary, New Zealand, 36s to 46s per cwt. WOOL MARKET. Messrs Jaoint, Son anc. Co., wool-brokers, of London, report on December 1 : Present available stocks are light (10,400 bales less than at corresponding sales last year). The attendance here both of the Home and Continental trades is larger than we ever recollect iD November-December before, and there appear to be some large orders in the market for the U.S.A. ; wool seems genef--1 ally wanted and competition has been very

free indeed, with a strengthening market from the opening to date. The average advance from the currency of our October auctions may now be quoted as reaching ten per cent ; the appreciation is more marked in Bcoured wools of all descriptions ; the better class of greasies, especially those suitable to the requirements of the U.S.A., are very well supported, but the short, poor and heavy grades of grease do not share the fullest advance, Cross-breds have been in but small supply, and are eagerly competed for at a good ten per cent rise in values. Snow-white Capes were all selling at very low figures in September-October, and they now fully share in the favourable re-action ; very few Natals, especially such in the grease, have as yet been offered. Importers are meeting the market freely. A very trifling quantity has been bought in thus far. FROZEN MEAT. Nelson Bros., of London, report on November 30 : New Zealand Sheep.— Since the date of our last report values have continued to decline, and prime sheep are selling to-day at 4d per lb, or fully $d per lb lower than our last quotations. This decline has been brought about solely by the competition for businoss'amongst holders, and it is probable that had the meat been in fewer hands prices would not have fallen to suoh an extent, for the supplies of Continental mutton have been generally shorter while the values of Scotoh and English mutton have not only been well maintained, but in the case of Scotch mutton even improved during the last month. The lower rates ruling for New Zealand mutton have had some effect in increasing the demand, but not to the extent anticipated, so that, with the shipments per ‘ Doric ’ and ‘ Balmoral Castle ’ just arrived, stocks aro still very heavy. Notwithstanding the competition of the low rates of New Zealand mutton. River Plate mutton has maintained its value and is quoted at 3§d to 3|d per lb, which rates are only about $d per lb lower than those for medium qualities of New Zealand. Provincial sales are moderate at about London quotations. Sydney Sheep. —Sales have been rather restricted during the past month owing to the competition of the low New Zealand rates, but stocks are well held, and no further decline has taken place. Quotations to-day about the same, viz., 3sd to 3£d per lb. New Zealand Beef. —The demand has considerably increased and values are firmer but scarcely improved since our last report. The supply of American beef has been ample, but is now falling rather shorter, so that we are inclined to think that, with colder weather, there will shortly be an improvement in the values of all clases of beef, which may be maintained up to Christmas. A sudden increase of the American supply would, however, check any incresse in the demand for or value of New Zealand beef. Provincial sales continue to increase at slightly improved rates compared with those obtained on the London Market. Quotations to-day are—for hinds (oxen), 3fd to 4sd per lb ; fores, 3d to 4sd per lb. AMERICAN MARKETS. Messrs H. W. Peabody & Co., of Boston, report on December Sth, 1888. Trade throughout the country is in a healthy condition, although no special activity exists. The stock and bond market is greatly depressed, and there is little speculation taking place. Kerosene. —We) have to report a radical change made by the Standard Oil Company in quoting and selling this article, decimals being substituted for vulgar fractions. The basis for quotation is for cargo lot at refinery of 10,000 cases of 100° packed 2-5. Today’s quotation for above is 9 40-100 c. per American gallon. Barb-Wire. —Market price for this line is somewhat weaker, which in part offsets the high rates of freight now ruling. Sugar. —We quote standard granulated at 4.84 per lOOlbs. in bond. Too high for export. Naval Stores. —Turpentine is held firm at 50$c. per gallon. Rosins have further advanced, and dealers predict higher prices. Wool. —Australians are in little demand, with stock light. Exchange. —We quote prime commercial bills on London as follows :—Demand $4.875; 30 days, $4.85 ; 60 days, $4.83$ ; 90 days, $4.82. On Australia, payable with exchange from London, $4.87. Freights still continue to advanoo and the demand for vessels exceeds the supply. We quote rates to Australian ports as follows : Melbourne 24c.; Sydney 23c.; Adelaide 26 and 275 c.; Brisbane 28$c.; New Zealand ports 28 and 30c.

£ s. d. £ s. d Milk, quart - 0 0 4 to 0 0 0 Butter, fresh lb - - 0 0 0 to 0 0 9 Salt butter - . 0 0 0 to 0 0 9 cheese, Col. 0 0 5 to 0 0 H Eggs, dozen . 0 0 9 to 0 0 0 Lard, lb. - 0 0 5 to 0 0 6 Bacon, lb. *- . 0 0 61 to 0 0 n Ham, lb. . 0 0 71 to 0 0 9 h Fowls, pair - 0 2 0 to 0 2 6 Ducks, pair - 0 3 0 to 0 3 6 Csese, each - 0 0 0 to 0 3 6 Turkeys, pair 0 7 0 to 0 8 0 Hay and Corn Market. ij s. d. £ s d Maize, Poverty Bay - 0 4 6 to 0 0 0 Cats, feed - . 0 3 4 to 0 3 6 Wheat do - . 0 4 0 to 0 4 4 Carrots . 1 10 0 to 0 0 C Hay, ton . 3 0 0 to 0 0 0 Oaten, ton - . 3 0 0 to 0 0 0 Straw, ton . 2 10 0 to 3 0 0 Chaff, — . 4 10 0 to 5 10 0 Oaten hay - - 4 0 0 0 0 0 0 Wheat straw . 3 0 0 to 0 0 0 Onions . 8 0 0 to 9 0 0 Potatoes, per ton- - 7 0 0 to S 10 0 Flour Market. £ s. d £ s. a Sharps, per ton - - 0 0 0 to 5 0 0 Bran per ton, . 4 10 0 to 5 0 0 Adelaide Flour, per ton 13 0 0 to 13 5 0 Colonial Flour - . 12 0 0 to 0 0 0 Oatmeal . 20 0 0 to 0 0 0 Pearl Barley * 15 0 0 to 16 0 0

Seeds. £ s. . d. £ s. d Ryegrass, bushel - 0 2 0 to 0 3 Cocksfoot, lb. - 0 0 3 to 0 0 3 h Wt. Clover, lb. - - 0 o : 10 to 0 0 0 Red, do - 0 0 8 to 0 0 9 Alsyke, lb. - ■ 0 0 10 to 0 0 C Cow Grass, lb. - Timothy, lb. . 0 0 7 to 0 0 9 - 0 0 6 t^ 0 0 0 Rape b. - 0 0 3 to 0 0 0 Linseed, per cwt. - 0 16 0 to 0 0 0