COMMERCIAL

New Zealand Times, Volume LI, Issue 8990, 15 May 1890, Page 2

COMMERCIAL

New Zealand Times Office, Wednesday Evening,

Notwithstanding that the general business the past month has been of a quiet nature, the Government revenue returns Bhow a considerable improvement over the ■corresponding period cf last year. The ■exports for the quarter ended 31st Marolv 1890, were £3,794,162. and for the correspending quarter of 1889 £3,417,734. The exports to the United Kingdom had increased from £2,811,579 to £3-,247,310. The Customs returns for the March quarter, 1890, were as. follow:—Customs duties, £384,526; primage duty, £15,489; total, .-£399.965. The total for the corresponding quarter of 1889 was £368,332 The Customs revenue for the financial ye.it ended the 31st March was £1,444,823 ; primage duty, £55,827 ; total, £1.500,650. In the import market of the past"mouth the principal item has been the arrival of several sailing ships from the United Kingdom, bringing supplies of revora.l grocery lines which had run short. The delivery of goods has been fairly well up to the general avenge. The news that numerous hemp mills, which had slopped work owing to low prices ruling in London, »re about to itart work' again has had a

stimulating effect on up-country trade., Trade is out very fine by both wholesalers and retailers, and goods are quoted at a very slight advance on landed prices. The cutting is more severe in the grocery trade. There has been a very good demand this season for grass seeds. In fact, some dealers aver that this la the heaviest season they have known for years. A large acreage of land has been' cleared of bush,-and grass sown. The increasing demand for frozen meat has necessitated the opening of lands hitherto not touched. The value of sheep has, in tficts, increased, owingtothe extra demand for freezing purposes. The prospects- of the coming Bowing season are very good. After a long season of dry weather extending over many months, genial rains have been general all over the Colony. Owing to tha lorvprioo of oats sheep in some districts are being fed upon them. The grain stocks this year are large, and there will bo a considerable shipment of wheat to English ports. The present quotations for wheat in Canterbury are Tuscan, 2s lid to 3s ; pearl, 2s 9d to 2s lOd ; Hunters, 2s 8d to 2s 9d. Milling oats are quoted in the same district at la 7d to Is 8d ; stout feed, Is 6d to Is 7d. Barley is worth from 3a to 3s 3d for finest qualities; for lower grades 2s 6d to 2s 9d is asked* Cocks* foot seed is quoted from 2f dto 3.f d. In money matters business is quiet. For mortgages money is plentiful, and rates are stationary at 6 to 6| per cent. There are considerable sums waiting a favourable _ outlet. In grocery lines prices are nominal. Candles sell at 7£d for Belmonts, 6d for Nationals, and 7Jd to 7£d for wax. Owing to the season there is a better demand for cocoas, but prices have not materially altered. Cornflour is quoted at 4d to 7d, the latter for BrOwn and Poison’s. The .demand for tinned fish has fallen off. Salmon is worth 8b to 8s 6d, Cocktail fetching lOs 6d to IDs 9d.' Dried fruits have not sold so freely lately, .though through the English advance prices have stiffened. ’ Currants are worth s|d to SJ. Elemea and sultanas are not heavily stocked. Colonial hops are worth lOd to Is, and old parcels in job lots 5d to 6d. Galvanissd iron is worth £24, but the market is not strong. A trade demand only has been displayed for vestas, 1000’s at from 655, with several complaints of the packing ; 250’s at 17a 6d to 18s. There have been fair sales of cement in some centres at 13s to 13s fid in bond. Bottled stout has a quiet demand, but ale is moving off more freely. Brandy has not sold so well as whisky, and there is a better demand for ram. A Sydney report on the sugar trade says —‘ f The market is not so firm. There is a disposition on the part of holders to realise outside of company’s prices, which remain unchanged. Beat China white can be bought at £25. There is very little Queensland white offering. Best Queensland grainy yellows are worth £l7 to £l9, in bond. The tendency of the market at the moment seems to be downward for all grades, but this may be partly due to the general _ dulness of trade. The trade shows no disposition to purchase, expecting prices to bo lower within a month or six weeks at furthest. This does not seem unlikely, as large holders will not care to carry on stocks to compete with the Queensland new crop.” • Freeman R. Jackson and Co.’s Johnsonville stock report:—Fat cattle came forward in average numbers, The majority of the bullocks were inferior in quality, a few pens only reaching medium, and these were considerably below last week’s The entry also comprised a fair proportion of cows, a portion of them being well fatted, the remainder being rather plain. Sheep, in short supply, consisted of wethers only, and although indifferent in quality und condition, met with vigorous competition, making fully 3d per lb. Cattle—Bullocks, £5 to £5 Iss, the average being £s'2s and £5 7s ; cows, £3 to £4 ss, averaging £3 6s and £3 16s for the different consignments. Sheep—Light wethers, 12s 6d to 14s 2d. Pigs—Baoonera, £1 6s to £2 7e; porkers, 17s to 22a; good stores, 10s 6d to Ils 6d. Ox beef, inferior, 12s; medium, 15s, the lOOlbs ; cow do, 12a; wether mutton, 3d per lb. . , , . MrD. T. Sjbuartreportsontheshaiemarket for week to date :—Banks—New Zealand, old Issue, £5 12s 6d, new £sColonial, sales 42s 3d, buyers 425, sellers 42s 6d, Insurance Colonial, 6a 6d to 6s lOd cum; National, sales 16a 4d, buyers 16s 3d OX; New Zealand, 68s 6d to 71s. Various— New Zealand Shipping, sales 83s, buyers 82s 6d, sellers 83s ; Loan and Mercantile, 61s 6d to 635; Drug Company, sales 19s; Kalapol Woollen, sellers 50s ; Wanganui Gas, buyers £ll 10a oum ; Westport Coal, buyers 525; Manawatu Railwav, buyers 16a ; Gear Meat, £5; Wellington Woollen, buyers 395, sellers 42s ; Wellington and Napier Gas, and local building companies unchanged. ■