COMMERCIAL.

New Zealand Times, Volume XXIX, Issue 4196, 1 September 1874, Page 2

COMMERCIAL.

COLONIAL GOVERNMENT SECURITIES. We have received from Mr. Jamieson, "of the Union Bank, the following report on Australian and New Zealand Government securities by Mr,. William Westgarth, Colonial Agent, 23, Cornhill, London:— , July 10, 1874. Notwithstanding extreme abundance of money, as indicated by a further fall in the Bank rate on 18th ultimo from 3 to 1\ per cent., there has been, for the last three or four weeks, unusual dullness In the market, and comparatively little business in the Colonial Government Debentures as well as the other Colonial Securities. As happens, under such circumstances, new loans are weak, while the old issues hold their value. • There has been on thelattcran average advance during the last four weeks about equal to the accrued interest for that interval. On the other hand the new New Zealand i\ per cents, have been rather heavy, and have slightly lost ground. At their present price of 08J-5, with the half-year's coupon due Ist proximo, they seem relatively the cheapest stock of the kind now in the market. The only noticeable fall in any class of debenture securities has been in guaranteed perpetual 6 per cents, of the Tasmanian Main Line Railway, which have gone down a further 3J per cent, upon a correspondence a fortnight since, between the Crown agents and the Company on the character of the guarantee. The former parties, on behalf of, the /Tasmanian Government, wished to apprise the Investing public that the said guarantee was not only of a conditional kind, but was given to the Company and not to the landholders. The Company had assigned in security the latter the Government guarantee money. The Dunedln and Pott Chalmers Railway 6 per cent. Debentures, in accordance with tho powers reserved

by.the late company, were all drawn last month for payment on 30th ultimo, and paid accordingly by the Crown Agents, on behalf of tho New Zealand Government, the purchaser of the line. The following are in detail the variations in value since the date of tho previous circular of 12th ultimo, most of the stocks quoted ;being now ex the Ist July coupon, which is allowed for. In New South Wales 6 per cents, there has been a general advance of i per cent. In Victorias, the 6 per cents., due 1883-5, are J, and those of 1891 are 1 per cent, higher. Queensland sixes ISS2'S are 1 per cent, better, and the new 4 per, cents, are } per cent. more. South Australian'sixes maintain the previous extreme prices, and the fives are J per cent, higher, while the new fours are 1J per cent, better. The various. New, Zealand stocks aver- ' age about the same price as before, but'the new 4} per cents, are fractionally easier. The various Provincial Loans are Ito 1J per cent, higher.' ■ • '. < .-»' : , In the non-government class, Melbourne, and Hobson's Bay United Bail Cepr cents., are 1-per cent: higher, while the Tasmanian Main Lino Guaranteed Perpetual 5 per cents, are 3} per cent. lower. In the Miscellaneous Share List the Banks are mostly 10s. to 30s. higher, Union' of Australia being 303:, Bar k of New South Wales And London Chartered 205., and Oriental 10s., but National of New Zealand is ss. lower. Scottish Australian Preference 6 per cents, have advanced I}, and Otago and Southland Investment J, most of the other Trust and Mortgage Companies being slightly lower. Australian Agricultural and North British of Australasia are each 2 lower, and Australian Mining Company J lower. LONDON WOOL MARKET. Messrs. Jacomb, Son, and Co. report on July 8 : Since our report of the 10th ult. on the close of that series of sales, there has been considerable inquiry forWool from many quarters to supply unfilled requirements—but on the whole no large amount of business has resulted—wools in grease and half-breds being most asked for. Accounts from Bradford are of an improved character, and English wool has in some degree advanced from tho very low prices submitted to at-the clip times, and altogether the trade of that district wears a more cheerful aspect than it has for some months. ' ARRIVALS. . . - AT SKA. N.S.W. and Queensland 30700 bales ..4000 bales Victorian .. .. 57700.,, .. 2000 „ Tasmanian .. .. 7000 „ .. 550 „ South Australian .. 11000 „ .. 700 „ West Australian. .. 1200.,, .. -- „ New Zealand .. .. 55500 „ .. 24000 „ . Cape 29900 „ .. 6500 ~ . - 199000 ' 37750 : With stocks of old wool variously estimated from 5000 to 12,000 bales, and a good portion of those afloat, it is probable the quantity may run up to .235,000 bales for next auctions. - As regards the growth of River Plate produce, the deficiency on the year's import is now estimated at from 10,000'to 15;600 bales, but up to 30th June the import is far in excess (37,000 bales) of 1873 to same date. • : ■ ' ' ■. 1874. ■. 1873. ■ Antwerp..' 118621 -.. 90919 Havre .. .. .. ' 41467 .. 32392 Bordeaux .. .. - 8033 ..' 6721 Marseilles .. ... 1527 .. • 2110 -Liverpool .. .. ,4730 .. 7493 Bremen .... ... ... 2531 .. 200.. ".".. . '176909 ' 135595 .' These figures maybe interesting in New Zealand and South Austratia,. as showing the half year's imports from their competitors in South America. A MELBOURNE. , The Ar%us of the 21st reports:—ln the import market, business generally shows little Improvement; but a considerable trade has been done in one or two staples specially affected by English advices. - Breadstuffs are firm, but that, is all that can be said, though supplies are on a very moderate scale. Maize is selling at 4s. lOd. in fair parcels. Dundee goods have been more noticed, and sales to-day have been made at 10s. 4id. to 105..3d. Several parcels have been disposed of. A line of seventy bales woolpacks has also changed hands at 3s. 4d. There is little trade demand experienced, and the improvement referred to is owing to the fact that the idea of a duty is beginning to assume a more definite shape.inthe minds of: buyers; but the thing, after all, is a mere matter of surmise. In teas, we note, the quittance of a few hundred packages old congous at lOd. to lid. Sugars are moving in fair lines, yellows being in good request. We learn of the quittance of 1000 bags Mauritius, ■ and 500 bags Java, at up to £32. Hops are still in favor. We hear of sixty bales Tasmanian having been placed at .up to lOd. for fine outside brands. An extensive business has been done in tobacco, chiefly in twists; 250 and ISO qr.-tierces, various brands, have been taken up at an advance on the price r.t which small lots would be ' sold last week. 400 packages Venus and Two Seas tens have also changed hands, and sales of Raven and St. Andrew twist., Some qr.-tierces and cases', were likewise amongst the business reported. Offers have, moreover, been rriade to clear out parcels on the spot, and all advised to arrive of,these brands to the close of the year, at the improvement referred to. The origin of this movement is attributed to the receipt of a London telegram, stating that the market in Virginia had advanced to double the price ruling in February, in consequence of receipts of the last crop proving deficient, and the for the growing crops being very unfavorable. The rise is reported to be equal to Gd. per lb. on-leaf. MAURITIUS. ; - The Argus reports :—The St. Kima's advices from Mauritius, which are up to 14th July, confirm our previous notice of that market. A private communication under: that date states :—e"There will be no new sugar shipped to Hobson's Bay before the end of August. The weather is still wet, and there is no improvement in the yield of the canes, and from all appearances there will be a large deficiency. The Bombay shippers are offering.for finest whites beforehand." BY TELEGRAPH. ' AUCKLAND. August 31. 1 Mr. Alexander Saunders reports:—Sales : South British, 535.; Crown Prince, 235. Buyers: Caledonian, 1905.; Beach, 10s.; Cure, 10s. Sellers: National Bank, 705.; Bright Smile, 80s.'; Whau, 485.; Alburnia, 335.