LATEST COMMERCIAL NEWS.

New Zealand Mail, Issue 956, 27 June 1890, Page 16

LATEST COMMERCIAL NEWS.

New Zealand Mail Office, Thursday Afternoon. The opening of Parliament usually gives an impulse to local trade, and has a stimulating effect on business generally. The ; up. country trade of the past week has been fairly healthy, and orders are coming in quite as freely as can be expected at this time of the year. In the import market there are but few alterations in values. The principal feature of the past week has bern'the further advance in the price of rice. It has sprung up to as high as 295, duty paid, with holders firm at that figure. Cable advices from Japan caution holders not to offer too freely. In one case the Words were— “ Absolutely withdraw all offers. 1 ’ Among the reasons assigned for this advance are the stiffness of the silver market and a combination of speculators in Japan to bear the market. Is is not prob. able that anv further material ndvance will ho imaHe, but prices may remain firm for some time. DHed fruits are a little more active. In the English market Sultanas are worth 4s more than they were a fortnight atm. A better demand has sprung up for prunes Sugars are unchanged. Yellow •« are scarce in s me quarters. Ad. vices from Foo Chow state that ; the new season’s crop is stronger in liquor. 'but not quite so fine in 1- af as that of last year. The results of the Indian tea crop is not yet to hand. Cevlon teas will hardly,, it is expected, turn out in quality equal to last year’s. Imported candles are s* ill firm, but no change has been made in Colonials Bince the last farthing Woolpacks are firmer. Caustic soda is sho-t stocked. There has been of late a better demand for ram, and one or two of leading brands are low in stock. In England ram has sold ntorw freely during the”past six mouths than it has done so for many years. Toere is still o f air demand for brandies, while lie trade for whiskey has slightly fallen off Matters a*-e quiet in the building trade, and materials are unaltered. ENGLISH MARKETS. From the New Zealand Loan and Mercantile Agency Company’s London circular, of May 17, we extract the following report : —Wool.—At the second series of sales the daily offerings averaged 11,780 bales. Prices closed as follow for New Zealand descriptions Scoured merino, superior, la 6£d to Is B§d; scoured merino, average, Is 4d to Is s£d ; scoured merino, inferior, ll£d to Is 2d; washed merino, average, la lsd

to Is 3d nom. ; washed merino, inferior, Hid to Is o£d nom. ; greasy merino, superior; lid to Is o£d ; greasy merino, average, 9d to lOd ; greasy merino, inferior, 7d to Bjd ; scoured cridssbred, fine, Is 6d to Is 7£d ; scoured crossbred; coarse, lid to is Id ; Washed crossbred, fine, Is 4d to Is Gd ; washed crossbred, Coarse, 11s to Is o§d ; greasy crossbred, fine, Is to is 2d ; greasy crossbred, coarse, to 9d. Corn.- —The weather during the earlier part of the past month was cold, with frequent night frosts, which checked the development of plant-life ; latterly, however, blight warm weather has been experienced, and the general outlook is most promising. In France, Spain. Holland, Belgium, Germany, Austria, Hungary, and Russia the prospects are also encouraging, while in marked contrast to the cheerful appearance in Europe are the reiterated reports of damage to the red winter wheat crop in America. A sharp advrnce in the United States, based upon adverse crop reports there, together with the very small stocks in the United Kingdom, have had the effect of stimulating the demand on the wheat market here, and prices have advanced la to 2s per quarter. On the spot, foreign descriptionß are held fiimly, but at the moment sales are not brisk. Flour, m sympathy with wheat, closes 9d to ]s per sack dea-er with a good demand. Oats have also advanced Is to Is 6d per 3841 b ex Btore dur. ing the month, with a fairtrade. Barley, beans, and peas are unchanged. Cocksfoot—Stocks are now in small compass, the season being practically over. Any sales made are taken for speculative account, and for good bright seed 40s per cwt ex store is readily made. New seed is being enquired for, and 45s to 46 per cwt, with better prospeets, is a modest estimate of the value of fine quality. Frozen Meats.—The general tone of the market has been quiet. Butter,—The market has been quiet smee the date of our last issue, and values iov all descriptions have ruled lower. The bulk of the recent shipments from New Zealand have not turned out satisfactorily, and as supplies both of Continental and American have been plentiful, considerable difficulty has been experienced in finding buyers. The prices secured have ranged from 24s to 74s per owt. Cheese.—A less firm feeling has prevailed during the past month, and values for American and Canadian have ruled rather easier. The consignments received per Duke of Westminster (s), lonic (s), and Ruapehu (s) proved to be for the most part of good quality, and the bulk has been disposed of at from 48s to 52s per cwt., a parcel of white cheese of choice quality realising 54s per cwt. AMERICAN. From Messrs H. W. Peabody and Co.’s report we extract the following ;-Kerosene declined slightly after last mail left, but took a grade higher prices in a few days. Shipments to New Zealand have been :—Dunedin, 1000 cases ; Nelson, 3200 cases. Rosins are firm at higher prices, particularly the ooarae grades. Turpentine has been erratic and has now a downward tendency, present price being 42| cents. In canned goods prices are very firm, with but few first-class goods offering. STOCK SALES. Christchurch, June 25. The New Zealand Loan and Mercantile Agency Company report (per Mr E. G. Staveley) as follows At Addington yards to-day there were about 6000 fat sheep yarded ; demand continues good. Best wethers, 16s to 21s 6d ; do. mixed sexes, 153 to 18s ; do. ewes. 12s to 18s ; merino wethers, 9s to 13s lOd ; mutton, l£d to 2£d per lb, less skins and fat; fat lambs, small supply, fair demand ; freezers bringing 12s to 15s ; store sheep, fair entry, good inquiry. Fat cattle, medium supply, demandbrisk; best bullocks. £6 10s to £8 fs ; cows and heifers, £4 to £7 ; beef, up to 21s per lOOlbs ; store cattle, little business, except in dairy class, best cowb up to £lO. Pigs, light entry, no change in value. Dunedin, June 25. The New ZeaTand Loan and Mercantile Agency Company report (per Mr A. Todd) as follows : —Cattle—2sß ; best bullocks, L 8 7s 6d to L 9 10s ; others, L 4 10s to LB2i 6d ? ; beef, prime quality. 20s to 22s 6d; ordinary, 17s 6d to 20s per lOOlbs. Sheep—243l ; best cross wethers, 15s 6d to 16s 91; light and medium to good, 10s 6d to 14s 9d ; best do. ewes 14s 9d to 16s 3d ; a few extra prime, 20s 6d ; ordinary, 8s 6d to 13s 6d ; merino wethers, 6s to 10s ; mutton, l£d to 2Jd per lb; 163 lambs, 8s 3d to 13s lOd. Pigs—--211 ; porkers, 24s to 3 s ; baconers, 33s to 495. (erom our correspondent.) Hastings, June 25. Messrs Nelson Brothi rs’ (London) report states that the mnttoD market is firm. Best quality is worth 4|jd. The beef market is very dull.