AUSTRALIAN COMMERCIAL SUMMARY.

Oamaru Mail, Volume XXI, Issue 6506, 16 March 1896, Page 1

AUSTRALIAN COMMERCIAL SUMMARY.

(By Electric Telkgp.ath.—Copyright.)

(PEll UNITED I'RKSS ASSOCIATION.) Sydney, March 1(5,

A small catalogue and very strong competition wero the features of tho fortnightly wool sales, considerable quantities being sold privately, and several lines withdrawn in expectation of higher prices. The hulk offering at the sales was medium and inferior qualities as compared with a fortnight ago, and values, especially for scoured, showed a further slight advance, and full parity with London advances was readily forthcoming here. The exports of wool for tho eight months ended February show a decrease of 144,700 bales as compared with the same period of last year.

So far March has proved a dull month for the import" market, but the week closes wit.li a little more life. Kxport orders continue numerous, New Zealand faking a good deal of business. Bread-stuffs arc quiet. Local milling wheal; is nominal at 4s sd. New Zealand wheat is unsettled, and is quoted at .'is 10d to 'ls, which is offering none too freely, but buyers arc holding off somewhat in expectation of lower prices when large shipments arrive. The recent rains greatly improved the crop outlook, and with increased stocks of feed produce lines are easier. Maize, owing to large supplies, has declined Jld. Butter is weak, but other dairy lines are steady. Potatoes— Stocks are lower and linn. New Zealand onions are in good demand at L 7 to L 7 ss. During tin; v.ook a creditors' meeting was held in the estate of Rogers and Co., merchants, Goulbourn, in which Sydney houses are largely interested. Tho estimated surplus is L 13,000. Mhi.iuhminu, March i•(.

Breadstuff's are quiet, but: very lirm. Sales of wheat have boon made ;it: up to 5s Id in town, and equal to a Id and 2d more in the country. The ollicial returns are expected in a few days, and the prodiets that, .should they, as is generally exoected, prove unsatisfactory, next, week will sec an advance to 5s 'id. The deliveries of oats havo eased .somewhat, and are a little more equal. S.'.les of NewZealand have boon made at ,1s lid. Barley, maize, and peas are weaker. The import market is normal and steady.

The Melbourne Co-operative Canning Factory—the first attempt of the kind in Victoria—has been started at Mi Id urn, settlement, for the purpose of dealing with the .surplus fruit. The initial cost was met by a general levy on the settlers. Numbers of latgo orders have been secured.

S v i>"n i',Y, March 14. In the fore part of the week brokers mainly confined their speculations to fho cricket match and picking tho team. Business both in investments and mining shares was slack, but it improved in tho latter part of the week. Government stocks are steady. Banks show a slight inclination to ease. Silver fluctuated considerably, but closed firm and advancing. In view of the prospect of the new concentration of plant to bo started shortly at Broken Tlill. Block Tens had an advance. Proprietaries also stiffened mate-

rially. (•Hold—Very few transactions, (mil closed a, little firmer. Copper is distinctly weaker. The Telegraph published a series of articles from its special correspondent oil tlie Westralian gold field. The Leader, summarising the article, says that if there is anything to justify the r.rcscnt boom, it has yet to be proved. There is actually less gold being raise; 1 in Westralia than in New South Wales. The history of the majority of the sensational discoveries is much the same. They are eminently fitted by the dazzling richness of surface for booming purposes, hut arc comparatively useless for genuine mines on account of the poorness beneath. As long as gambling continues and Iho public subscribe money to make a pretence of work, all the absurdly capitalised wild cats with which the game is played will bo in demand, but when the gamble is over speculators will fold their tents and steal away. It is likely enough that a fovv mines will give permanent employment;, but it is absolutely certain that as soon as they are no more use for stock exchange gambling the bulk of them will be abandoned. The mines, so far, have given 110 indication to sustain anything like the rush they attracted. Miners were strongly advised to think twice before abandoning the richer mining colonies in tho east, ■with the probability of finding themselves stranded and homeless in tho west. It will Vie fortunate if trouble of a serious nature does not result from the rush. Mi'.lcournk, March 14. Sound investments are in good demand at full rates. Mount Lyell and Board of Works debentures show a big turn over, at a good advance. Banks and Ciovernment bonds are steady. In silver there is a fair amount of business, but tho prices are irregular. Broken Hill Proprietaries are in strong request, with a material advance at the close. The opening sales of Proprietaries were 48s Gd, closing ab 50s Gd. Block Tens jumped from 81s Gd to 945. Tasmanian mines are in good demand, at improved rates. (.old— Westralians are dull, and Victorians are in steady request, with an improving tendency.

Adelaide, March 14

After marked dullness during tho greater part of fcho week, a brisker tone was noticeable in the share market. Both gold and silver Barrier stocks close strong. Proprietaries sell at from 48s •to uO-i. Block Tens at 80s 6d to 92s Gd. In Westralian gold there arc more s-fles, and the market is firmer.