COMMERCIAL.

New Zealand Times, Volume XXIX, Issue 4146, 4 July 1874, Page 7

COMMERCIAL.

■WELLINGTON MARKETS. Wellington, July 4, IS7-4. The town trade of the past month has been of an exceedingly moderate character,, and marked in only a few instances by any fluctuations in value, the continued inclemency of the weather having to some extent interfered greatly with it. It is, however satisfactory to notice the continued improvement in our country and outport trade, as evidenced by the increasing number of loaded drays leaving town, and the marked activity among our coasting craft. Imported goods continue to be in moderate demand, although, owing to large stocks and strong competition, prices rule low and merchants complain of inadequate profits. In the meantime, outsiders arc beginning to appreciate this fact, and to And it more to their advantage to lay in their stocks here than to order them from Melbourne and elsewhere as has been heretofore the case. A further advantage is thereby also gained, as low prices and the fact that our merchants are able to sell their goods as low as they can be imported into the other Colonies will go far to place Wellington in the position to which her geographical centre and fine harbor entitles her to hold, namely, that of being the distributing port to the rest of the Colony. Some speculative purchases of brandies have taken place recently, and a considerable quantity have changed hands at an advance on our last month’s quotations, although not to the extent warranted by the present position of the brandy market in London. Over 200 quarter-casks of MartelTs and Hennessy’s have been placed at 9s. 9d. and 10s. Sd., and a parcel of Bisquit Duboucho brand at Ss. and Bs. 3d. per gallon in bond. Case brandies have not yet felt the advance, as our stocks are large. A few invoices of raw coffee have been received, but in spite of the small stock on hand holders are unable to force the price up beyond Is. sd. per lb., which at present Loudon rates leaves but a bare margin of profit. Mr. R. J. Duncan held an extensive sale of last season’s teas, &c., at which there was a good attendance of the trade, and the following prices were realized: —7o half-chests tea, cxFoldiu and May* at Is. 3d. to Is. Old. d.p. ; 500 boxes do., 19s. Cd., 215., 225. Gd., 2Gs. per box; Honolulu sugar, £33; and Mauritius do., £39 per ton ; 40 bolts canvas, lid. to Is. Id. per yard; vinegar in quarters. Is. 9d. to Is. lOd. per gallon; Plard Vestas, ss. Cd. per gross ; Champaigne Vineyard brandy in case, d.p., 51s. and 525. per case ; Hennessy’s do., 575. per case ; Bisquit Dubouche do., 605., and 4 the same brand in quartercasks, Ss. 3d. per gallon. There have been no arrivals from Europe during the month. The following ships have sailed, and are due or on the way from London :—The Waikato, March 29th ; Weymouth, April 7th; Panthea, St. Leonards, and Euterpe, April 2Sth; and the Conflict, May sth. From Liverpool, the J. A. Thompson.

The amount of Customs duties collected at this port for the month of June, amounted to £9002 Bs. Id. Bank rates of exchange and discount unaltered. Ale and Porter (duty paid, draught Is. per gallon, bottled Is. 3d. per gallon).—There has been little doing in bottled beers during the month, stocks are ample, and approved brands vary but little in value, being quoted at 12s. Cd. to 13s. d.p. Bags and Woolpacks (duty paid, 10 per cent.). —Cornsacks are comparatively neglected at this time of the year, holders are asking 13s. to 14s. Cd. per dozen. Nothing doing in woolpacks. Candles (duty, Id. per lb.). —Our market is heavily stocked with sperm candles, and sales of large parcels have been made as low as 10|d. per lb. Importers are getting for ordinary retail lots 10£d per lb. Cement (duty. Is. per barrel). —Just now there is little inquiry for Portland cement. We quote 235. Gd. to 245. per barrel as the current rate, but have no sales to report. There is no sale for Roman. Coffee (duty, Sd. per ib.). —Although several parcels have reached us by the La Hogue, prices continue high, and good plantation coffee is worth Is. sd. per lb. in bond. At the same time it is doubtful, considering the high rates ruling in London, if this figure leaves any profit to the importer. Chicory (duty, Sd. per Ib.). —Ordinary stocks, with limited demand, quoted at Cijd. per lb. Confectionery (duty, 10 per cent.). —Stocks ample. Keillor’s make is in fair demand at to per lb. Other makers goods meet with no sale. Fruits (duty. Id., per lb.). —No stock of currants in first hands. Good fruit is worth 4£d. per lb. Eleme raisins are in fair supply at s|d. to 6d. per lb. ; sultanas, to 7d. per Ib.; and muscatels of prime quality are worth Is. Id. to Is. 2d. per lb. ; inferior sorts being quite unsaleable. Figs in small boxes are in moderate supply, at 9d. per lb. Dried apples scarce ; none in first hands.

Flour (duty, 20s. per ton) —Stocks of Adelaide flour exceedingly light, the price scarcely warranting the importation ; there is barely 20 tons in this market, for which holders ask £lB 15s. to £lO per ton.

Hops (duty, 3d. per lb.)—Largo stocks on hand, which are just now perfectly unsaleable except at a great loss; wo hear of a lino of 1873’s sale as low as Gd. per lb. Malt (duty, Is. Gd. per bush.) —English malt is in no demand at this time of the year, as the brewers prefer using the new Colonial malting. Quotations for English in tanks. 11s. to 11s. 3d. per bushel, with no sales.

Metals (duty, 10 per cent.). —Corrugated iron has been in fair demand, and sales of best English make, 20 guage, have been made at £35 to £35 10s. per ton, owing to the increased number of new erections in progress. Scotch iron is worth £33 to £34105. per ton. Fencing wire continues in good supply, and sales to a fair extent have been made at £25 to £2B per ton, according to number. Sheet lead meets with moderate sale at £3O 10s. to £3l per ton. Sheet zinc, £42 10s. to £43 per ton. Oils (duty, Cd. per gallon).—Our stock of kerosene is so low as to bring about an absolute scarcity, there being none in first hands, holders of % few cases asking and getting 2s. 9d. per gallon. Largo shipments are on the way, and expected daily, sales of which have been made to arivo at 2s. Id. to 2s. 2d. Paint oils meet with fair inquiry at £4 10s. for raw, and ss. for boiled linseed in tins. Colza and castor dull at os. Od. per gallon. Oilman's Stores (duty, 10 per cent.). —The articles coming under this head arc still in excess of requirements, very few if any lines being in demand. There are of course the ordinary trade sales to sort up retail slocks, but prices continue too low to yield a fail* profit to importers. Rice (duty, sd. per lb.)—Good dressed rice is worth £2B to £3O per ton. Inferior sorts, £24 to £2C per ton with little business doing. Salt (free).—Full stocks at 80s. and 90s. per ton for coarse anil tine.

Sugars (duty, Id. per lb.—Stocks of sugar are large and diilicult to more, although prices rule lower than they liave done for some time past. Melbourne Company’s 1.0. sugar is quoted at £45 per ton ; C. £4l, and Y. £3B per ton, and at auction sales have been made below those rates. Mauritius sorts are in fair inquiry at about the same rates for corresponding qualities, but little business doing. Wo learn that a further consignment of the Yarraville Company’s sugars has been made to this market, and will bo offered during the week. Spirits (duty, 12s. per gallon).—During the month a speculative demand has sprung up for brandies, owing to the high rates ruling in London and on the Continent ; and over 200 quarter-casks have changed hands at 9s. 9d. to 10s. 3d. per gallon for Hcnncssy and Martoll’a brands. Blsquit Duboucho’s brandy lias also been quitted at Bs. to Bs. Sd. per gallon. Case brandies have also advanced in value, although not to the same extent, stocks being heavy, Martell's' and Hcnncssy’s being now worth 31s. Gd. to 335. per case. Champagne, Vineyard Company’s, 275. Gd, to 28s. per case. B.I?. Rum is iu fair demand at slightly Improved quotations, 10 percent, 0.p., 3s lOd. to 4s. per gallon, 30 per cent, 0.p., 4s. 3d. to 4s. Cd. per gallon. Geneva continues dull, with largo stocks in bond. J.D.K.Z. case, worth 13s. Gd. to IGs. Cd. per case, according to contents. Whisky.—Stocks— Bulk worth 4s. to Cs. Cd. per gallon, according to brand. Case, ditto, 16s. to 17s. Gd. per dozen. Old Tom.—No demand.

Teas (duty Gd. per lb.) —Fair stocks, with tho ordinary amount of business done during tho month. Common teas are in excess and difficult to move, but the finer sorts and really good samples generally bring their full value. A largo parcel of tho teas ex Foldin and May, were submitted at auction this week, and brought what tho importers considered good prices. Tobacco (duty 2s. Cd. per lb.)—Fair stocks. Wo quote for recent shipments—St. Andrew’s twist. Is. 7d. to Is. 7id. ; black swan, Is. Gd. ; Shellavd’s, Is. 6d. ; venus tens. Is. 4|[d. to Is. Dd. per lb., in bond. Wines (duty 4s per gallon.)—Sales of a retail character only. Stocks largo. New Zealand Produce. Butter. —Prime cured butter in kegs, for shipment, has advanced steadily, and is now worth la. fid. to la. 3d. per lb. Tho quantity coming forward is small, nor does it appear that the country holders have much stock on hand; this season'consequently wo may look for much higher rates until the new season’s butter comes in. Cheese.—Good Canterbury cheese Is firm at Sd. to 8-id. per lb. Ample stocks. Flour. —Stocks of Oamaru and Canterbury Hour are largo, and prices remain at about our last month's quotations, with a slightly improving demand. Present quotations are £l3 to £l3 10s. per ton for sacks. Hams and Bacon.—Wellington cure, if good, worth 7d. to 7sd. per lb.; Canterbury, covered, Bd. to Od. per lb. Oats. —Largo stocks in importers’ hands; sales at 4s. Od. to Cs, 3d., according to quality. Onions.—Very scarce, and worth £3O per tou. I’hormiiun.—No transactions to report.

THE ESTATE OF A\ T . STAVERT AND CO. [From the Nelson Colonist.] A meeting of the creditors of W. Stavert and Co. took place on Tuesday, at which there was a numerous attendance. Mr, Fell attended on the part of several creditors, and Mr. Pitt watched the proceedings on behalf of the trustees. Messrs. Sharp and Buckeridge, the trustees', explained that they had taken stock, aud made it realisable. Their estimate of the estate was as follows: LIABILITIES. Overdraft at National Bank £6,300 ~ on produce account 275 Bills current 10,000 ~ unaccepted .. .. 500 Oil outstanding ledger account .. .. .. 7,000 Accounts not rendered 500 Total £25,175

The deed of assignment had appointed Messrs. Sharp. Buckeridge, and Beattie as trustees, but the last named had not acted at all, nor signed the deed. The question was, whether the two remaining trustees should go on in their efforts to realise the estate. A rather noisy discussion then took place, and some strong opinions unfavorable to signing the deed of assignment were given ; and questions as to preference payments were put, but were unsatisfied. Mr. Joseph Ward then proposed, and Mr. Hartmann seconded, That this meeting is of opinion that the estate of AV. Stavert and Co., should be woundup in bankruptcy, and not under a deed of assignment. Mr. Fell thought that this would involve delay in realising the estate, and would propose as an amendment, That the trustees under the deed be authorised to continue the collection of the book debts, and to hold them until trustees of bankruptcy are appointed. Seconded by Mr. H. Davis.

This amendment was withdrawn, and another substituted, as follows: Mr. Hartmann proposed, and Mr. Cross seconded. That the trustees take no further action, and the estate be realised by trustees in bankruptcy. On being put, this amendment was carried by 14 to 12. Mr. Sclanders explained, with regard to the secured book-debts, that he was merely a stakeholder in the matter. A dispute had arisen as to whether the proceeds of DartnaH's sale belonged to the Bank or Fisher's estate, and he held them until this was decided.

The trustees promised they would not oppose any petition to throw the estate into bankruptcy, and Messrs. Fell and Atkinson were appointed to act on behalf of tiie creditors. The meeting, which had been an animated one. then broke up. The following is a comparative statement of the exports from Wellington during the seasons 1572-3 and 1873-4. It will be seen that while there lias been a large increase in wool and skins, preserved meats, wheat, flour, and butter, there has been a large decrease in phormium, tallow, and leather :

ASSETS. Stock, Levien’s Bond, secured to Bank.. £2.300 0 0 Land and house, in Bronti street 1,000 0 0 Land at Collingwood GO 0 0 Bills for collection.. 3,897 9 1 Sum at credit of realisation of securities account .. 3S0 0 0 Dividend from estate T. B. Fisher 30G 0 0 Barley in Levien’s warehouse 24S 0 0 Standard Insurance shares 70 0 0 Mosgiel Cloth Company shares .. 50 0 0 Book debts, secured to James Sclanders 5,000 0 0 Stock in store, in Trafalgar street 1,000 0 0 Olllce furniture ., .. .... 100 0 0 House furniture soo 0 0 Horse 20 0 0 Total assets 15,225 0 1 Deficiency 10 11 _ £25,175 0 e

1872-3. 1873-4. Wool and skins .. .. 17,549 pkgs. 21,985 pkgs. Phormium • • 7,724 „ 4,247. „ Tallow .. 1,312 „ 906 „ Putter .10 „ 83 „ Hides .. 2,004 „ 1,398 „ Leather .. 203 „ 181 „ Neats 607 „ 1,805 „ Wheat .. 100 tons 500 tons Flour 30 „ ' 215 „