COMMERCIAL.

New Zealand Times, Volume LI, Issue 8523, 1 November 1888, Page 2

COMMERCIAL.

New Zealand Times Office, Wednesday Evening.

There is a more hopeful tone in business circles this month than there has been for a long time. Not that any great increase of business has taken place, or that large sales have been reported, hut buyers are more spirited, and more hopeful for the coming season. The outlook of the lambing and wool season is cheering, and baring mishaps in the shape of extraordinary weather, the returns from these two sources are likely to be very good. Live stock in all parts of the Colony is looking well, and fetching fair prices. The crope so far give promise of turning out well. The season is much earlier than usual, owing to the very mild winter just past. There is a large area laid down in wheat, and should Homo prices remain stiff our farmers will- have no reason to complain of the grain trade. The long spell of dry weather in Australia is almost creating a panic. In whole districts there is no -feed for sheep or cattle,- and even if rains should come shortly the price of cattle and produce is bound to be higher. This will give an increased demand for New Zealand’s overplus at remunerative rates. The past quarter, ending September, is about the dullest period of ’ the : year, and the Customs returns for that period were anxiously looked for to see what difference the increased, tariff had made. There was a perceptible decrease in Customs revenue from alcoholic liquors and tea, but some of this may be accounted for by the fact that there were unusually heavy clearances just before the tariff came into force in these lines. The revenue from the ad valorem and miscellaneous duties show an increase of £35,000. The demand for properties for safe investment is on the increase both in. town and country, and good business sites have changed hands lately at satisfactory rates. Gro. eery lines are without much change. The first shipment of new fruit, in the shape of currants, figs, and sultanas is to hand in capital condition, at full rates. Kerosene is in larger supply, ex recant arrivals from New York, but the price is still firm. Cement is moving off a little more freely at fall late rates. Galvanised iron is inquired for, and holders are firm. Bales are reported as low as £l9 19s. In several hardware lines holders are not pushing trade, as prices are expected to be, if anything, firmer. Cream of tartar has been scarce in the local market, and is held at firm rates. Speaking generally, the trade of the Colony is in a far better condition than it was six months ago. ■ There is evidence of more confidence of the people in the future prosperity of the place. - The presence of English and American buyers of our dairy produce will no doubt stimulate our farmers to greater enargy to meet the demand for onr products, . The fruit crop, .so far, promises to.be a large one, and for the first time for. several, yearsthere; Are! feigns -of a favourable season for. peaches. Several firms ate contemplating canning fruit this year on a larger scale than has hitherto been attempted in this Colony. The dispute between the coal miners and the mine owners in New South Wales is not settled at this date, and the effect has been advantageous to New Zealand. All our principal coal mines are fully manned, and work is carried ou day and night. The output is larger now than ever before. The only difficulty has been in securing vessels to carry away the orders. In most of our local industries a good demand is reported. The Wellington Woollen Company’s mills are fully employed, and have orders now in band to last up till March next. With the exception of a disagreement with one firm of bootmakers in Auckland, the arrangements between employers and employes are of an amicable character. The timber industry is looking up; there is an improved demand in Australia, and large shipments are now being made.

Messrs Freeman R. Jackson and Co., Johnsonville, report: —The cattle entered tor the day’s sale were generally of indifferent quality, with the exception of one line of 18 head, which were fairly’good. Some of the bullocks could only be classed as good forward stores. We again advise our numerous clients to forward well-fatted cattle only, as those of poor quality are ansatisfactory to buyers and sellers. Beet made Iss the 100. In sheep the feature of the sales was another line of superior wellfatfced mutton wethers (shorn) of Mr Robertson, which made good rates. A number of light wethers were penned, and brought a shade over last sale’s prices. The lambs were not well fatted, but sold at full values. Pigs were well competed for, and maintained recent prices. Cattle—Bullocks, best line, from £6 2s 6d to £6 12s Cd, averaging £6 9s 5d ; other averages, £5 19a 4d, £5 13s, and £4 16s 9d ; veal oalyes almost unsaleable. Sheep— Mr Robertson’s shorn wethers, 13s 6d to 14s Id ; others, Ss 4d to 11s ; shorn small ewes, 7s 4d ; ewes in wool, 13s; lambs, 6s lod to 7s lid, Mr D. T. Stuart reports on the share market for week to dateßanks-New Zealand, sales (new issue), £1 premium; Colonial, 42s 6d to 43s 3d; National, 36s to 375. Insurance Colonial, 4s 6d to 4s 9d; National, 19s 3d to 20s 6d, cum; New Zealand, sellers 80s • Union, 25s 6d to 265. Financial—Loan and Mercantile,. 77s 6d ; New Zealand Land Mortgage, 18s to 18s 6d ; Local Building Co’s, unchanged. Sundries— New Zealand Shipping, buyers 23s 6d; New Zealand Drug, J9s 9d to 20s 3d; Gear Meat, buyers 81s; Wellington Gas, sellers (issue £5 paid), £9 7s 6d, buyers (£1 paid) 40a. Gold shares —Globe, sales 26s 9d; Darks, sellers 445, cum dividend; United Alpine, 19a 9d to 20s 3d.