LATEST COMMERCIAL NEWS.

New Zealand Mail, Issue 888, 8 March 1889, Page 16

LATEST COMMERCIAL NEWS.

New Zealand Mail Office, Thursday Afternoon. In all ciroleß there is a general opinion that the trade of this Colony is improving. To read of the prices now obtained in England for our ine.it, wool, flux, and grain would give an idea that money must be nlentiful here. The recent unusual demand in Australia for our produce.! must have put fa lot' of tnoney in the pockets of our producers.- The published statistics show that our revenue is increasing,' and that our-ex-oorts' 'are-' larger than they have been for Hom'e thfie,’' and yet in-spite of all-these glowing accounts the merchants'and detail traders ooroplfaiu "of bfasinfesS being Slack and money difficult tobfitairi. In many instances firms -fare deducing their staff, a'fad tne cry of retrenchment in 'the matteF of salaries has fffit altogether departed from our midst.' is a problerri’that' requires a large amount of oareful inspection rind stufiy to account for all tM* "The statistics seem to prove that we fife sq mqch niore wealthy than we wore six months ago, anfi yet merchants show smaller stocks than ever, and from one end of "the Colony to the other deblare that their sales are smaller. Qne theory put forward is tbqt the people have had ffich a sick time for sp long with baq trade that they are more determined thqn evor Xave money in every possible way, and Wijl not spend beyond actual necessitiesBe it aB it may, trade is reported on every hand as being exceedingly quiet. To look at future prospects generally there is not the ■lightest doubt that we have fully entered on a season of prosperity. Although it must be confessed we have not yet experienced any direct particular benefit. Our gram crops this vear are far above the average. One crop of oats in the Canterbury district is reported to be turning out at the extraordinary rate of lie bushela to the acre, and for wheat

from 50 to 80 bushels per aore, and the pneo is Bteadily advancing in Australia and England. The news that a powerful company is being floated in England with a capital of one million for the purpose of entering largely into colonial trade is very welcome to us. The Company have secured some good substantial names on the directorate. Sir Charles Palmer, chief partner and shareholder in the Palmer Iron, Coal and Shipbuilding Company at Jarrow on Tyne is a tower of strength in himself, and whatever he undertakes may be looked upon as a safe spec. The Company propose to build a new line of steamers to carry dead meat from these colonies to England. It is probable that with this new competition freights out and Home may be reduced, . It the local market prices m Ml goods are without any apparent alteration, and only an average moderate trade is doing. There have been no large arrivals daring the week of any special lines, the principal imports being sorting up goods. The Oamaru Mail says : —Samples of this season’s grain are now coming to hand, and, judging by a number of those shown to us by a local merchant, the grain gives promise of being uniformly good and in capital condition. There is, however, a kind of yellowish tinge about most of it which detracts from its appearance as compared with last seaion s crop. It is thought that this slight discolouration is due to the few days of warm, damp, dull weather experienced in this district about a month ago. We are unable to gather any particulars as to the prices ruling for the new grain, very few parcels having yet changed hands, but it is expected that a more active tone will prevail as threshing progresses. There is one point which shows that a real improvement has set in, and that is tLe better demand for property for investment, and the healthier prices obtained at late sales. There is no doubt that when the harvest is all gathered, and farmers’ lots are freely entering the market, both merchants and retailers will report an improved state of trade.

STOCK SALES.

Christchukch, March 6. The New Zealand Loan and Mercantile Agency Company report (per Mr E. G. Staveley) as follows :—At Addington yards to-day there wero full entries of stock. There were about 12,000 sheep; Fat sheep declined at first, afterward recovered fully ; prime fat crossbred wethers, 9a 6dto 12s 3d; mixed sexes, 8s to 10s 6d ; light weights and inferior, 5s to 7s 6d ; merino wethers, 4s 6d to 5s lOd ; mutton, to lfd per lb. Fat lambs’ declined, malting 5s 6d to 8s ; ono pen superior, lfs ; 'Cattle market—Fat cattle quiet; bullooks, Lsto L 6 103 ; cows and heifers, L 3 10s to Ls'; beef, 14s to 16s per 1001 b. Pigs'— Rigs sold freely, largesorts, 25s to 375. -" 1 ’ ' DjlNJffilN, Maroh (5. The New Zealand Loan and Mercantile Agency Company report (per Mr D. Stronach) US follows : - Cattle— 96 were yarded ; best fittlloQks, L 7 to LS ; others, L 3 17s 6d to L 6 17s fid ; beef, ordinary, 12s 6d to 15s ; prime, l7s fid per 1001 b. Sheep—22Bß were yarded ; best crossbred wethers, 10s to l‘2s ; ordinary, 8s to 9s 9d; best ewes, 9s to 11s ; inferior tp medium, 53 3d to 8s 9d ; merino wethers, 4s 3d to 7a 3*l * mutton, l|d to lgd per lb. 778 lambs, 4a 3d to 8s 3d. Pigs—262 pigs werepenned; suckers, 7s fid to 12s 6d ; light stores, 13s to 16s ; medium do, 21s to 24s ; porkers, 27s 6d to 355; baconers, 40s to 56s ; extra heavy, 57® to 62s eao’’. KAYE AND CARTER’S WEEKLY REPORT OF THE CHRISTCHURCH GRAIN AND PRODUCE MARKET. Wheat—Old Tuscan, 3s 9d ; Pearl, 3s 8d ; Hunter’s, 3s Bd. Fowlwheat—Good whole, 3s Id; broken, 2s lOd. Oats Milling, 2s 64 ; bright short, 2s 4d ; duns, 2s 4d ; Danish, 2s 4d, Barley—Prime malting, 43 4d; good malting, 4s; feed, 2s 6d ; Cape, 2s 9d ; pearl,, £lB. Peas —Prussian blues, 4s; Bplit, £l4. Beans —Good whole, 3s 6d; medium, 3s 4d. Flour Roller, £lO ; stone. £9. 85s ; sharps, 95s ; Oatmeal (in 25's), £ls; in 7’s, £l6 10s. Ryecorn, 3s 9d (nominal). Linseed, £ls. Ryegrass—Machine dressed, 3s 6d to 3s 9d. Cocksfoot Prime, 3Jd ; ordinary, 3d to 3Jd. Oatsheaf chaff—£4 ss. Hay, baled, £4 10s. Butter, Sd. Cheese —Loaf, 6|d ; medium, 5d to 5Jd. Hams, 9d ; bacon, 7|d ; H and B, B £d. Eard ( in bladders), 4Jd. The above prices current are all f.0.b., Lyttelton ; sacks and packages extra except when otherwise specified.