COMMERCIAL.

New Zealand Times, Volume XXXVI, Issue 6272, 19 May 1881, Page 4

COMMERCIAL.

New Zealand Times Office, Wednesday, May 18.

The business of the past month has been fairly active. Financial engagements have been well and punctually met, and beyond a few unimportant failures we have no stoppages to report. Money is still in good_ supply for loan on exceptional freehold securities. Bank rates are unchanged. The import market has been busy with the arrival of several overdue English vessels. Ale and stout (duty Is Gd per gallon).—The former has had a moderate business. During the month a line of 150 cases Bavarian, in quarts, was placed at 11s Gd; Griffin’s brand has also been freely patronised at 11s 9d to 12s ; Burke’s light sparkling pale ale is selling freely at 11s 9d to 12a ; stout in bottle is moving off slowly; Guinness’s, bottled by Johns Bros., selling at 11s ; a small line of Barclay and Perkins was sold at auction at 10s 6d; Guinness’s, bottled by B. and J. Burke, has a ready sale at 11s Gd to 11s 9d ; Griffin’s bottling is quoted at 11s Gd to 12s; Boar’s Head, 11s Gd to 11s 9d; stocks of ale and stout in bottle are heavy. Spirits (duty, 14s per gallon)— Hennessy’s one star brandy, in case, is scarce, and holders readily get 425, t.b. Other brands have more attention, Martell’s particularly, which is quoted at 36s to 375.; sales of Lucien Beliefs have been made at 22s Cd to 25s ; Hennessy’s bulk brandy is very firm ; an offer Was refused during the month of 10s 9d for twenty quarters ; quotations are firm at 11s Gd to 12s. Sales of fourgallon JDKZ geneva have been made at 17s to ITs Gd. Burnett’s old tom has been sold at 13s ; Booth’s, IGs to ICs Gd. Whiskies have had attention at from 14s (by auction) to 21s according to brand and quality. The demand for rum is somewhat limited ; quotations for 10 o.p. are os Cd to 3s 9d. Ports and sherries are only operated upon in small quantities ana for immediate requirements. Sugars are quoted at L 42 10s to L 43 for 1.W., L3B 10s to L 39 fir 1.0., and L 34 lOsto L 35 for C. Cru.-hed loaf is scarce and quoted at 50s ; Mauritius and Fiji descriptions are neglected. —Dried fruits are very firm, and higher rates are Eleme raisins are quoted at 7',d ; sultanas, 7jd. Currants are in light supply and quoted at GJd to GJd. —Foreign candles are very scarce, in fact our market is quite Pare; there are, however, considerable shipments on the water, several parcels have been placed to arrive at 9d to 9 ; J.d for D.R.’s. Price’s are in fair supply, at 9Jd to lOd. We have not heard of any alteration in local manufacture. Bulk vinegar is very scarce, and supplies have had to be drawn from Southern markets. Sa tis a still a drug, and sales have been made for another port at L 3 18s and L 4 for fine ; coarse is quoted _at_L3 12s Gd to L 3 15s. Van Houten’s cocoa is in good supply, and quoted at 4s Gd to 4s 9d. Lobsters and salmon have moderate sale, the former 9s to as oa, ci.„ mi I- oa; are very firm. Sales of halves have been made at 9s 3d to 9s 6d; quarters, 5s 9d to Gs, and oysters, Gs; red herrings, 33s to 35s This market is almost bare of keros; ne, and the few cases in holders’ hands are worth 2s to 2s 2d. The F. W. Carlow is daily expected with a shipment of about 3503 cases. Bo led, raw, and linseed oils are also scarce. Bulk castor oil is quoted at 4s to 4s 3d. Several sales of galvanised iron have been made to arrive at L 24 10s for 6to S feet. By late cable advices we observe galvanised iron is reported as having fallen to Ll 6 per ton, but this quotation is rather ambiguous. Our market is not therefore altered by the quotation. The shipments to arrive are rather heavy. Fencing wire is inquired for, No. 6,7,8 being vary scare and quoted Ll 5, Ll 5 IQs and Ll 6 respectively ; wire nails are scarce and the shipments to arrive ex Arabella will come to a good market. Grass seeds have had business, cocksfoot at 3Jd to 34d, but our market is now nearly cleared ; rye has been sold at 5s 3d to 5s Gd. Flour—Our local millers report an advance in their prices of 10s per ton, and now quote LlO 10s. We have not heard of a corresponding advance in Southern markets. Milling wheat is quoted at 3s lOd; oats are very firm and 2s 3J to 2s 6d is easily obtainable for good feed samples. Hides are in good demand, and 4d to 4Jd has been paid for good ox ; sheepskins have been sold at 2s Gd to Bs. Pawa shells are almost valueless, sales having been made in London at 4d per dozen; this must leave a very large loss to shippers.

Messrs Charles Pownall and Co., scriveners, report that several large mortgage tranacations were concluded during the last month, at prices ruling from Cj, to 7 per cent. The value of money has now a hardening tendency, and lower rates of interest are not likely to be accepted. On the contrary, if the active demand for mortgage loans continues, combined with the I .rge amount of capital that is being invested in the purchase of land, the supply will become considerably exhausted and quotations may probably rise fully J per cent.

• Cum Dividend, t Ex Dividend The share market has been somewhat quieter during the past month, the prices of all kinds of stock being, however, fairly well maintained. Thera is still a considerable amount of capital awaiting a favorable outlet Rates on mortgage of freehold, Gl to 8 per cent. The following are the Bank rates : Overdrafts - - 9to 10 per cent. Discount - - 7 ~ 9 ~ Interest allowed on deposits For 3 months - -2 per cent. ~C~- - 3 „ „12 „ - 4 „ London Exchange : Buying, CO days - I to I per cent. dis. Selling |,, 1 ~ prem.

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