COMMERCIAL.

Otago Daily Times, Issue 3247, 3 July 1872, Page 3

COMMERCIAL.

The business of the past month exhibited, in th(s earlier part of it, considerable briskness and elasticity, but comparative dulness during its latter half, attributable, however, entirely to temporary causes. We arc in tho dull season of tho year—onr mid-winter —and the weather, which affect*: very materially our inland trade, has beun for some weeks exceptionally unpropitious. To a storm of frost and snow, severe for our mild or subdued semi-British climate, succeeded a heavy rainfall, which, beyond the districts more immediately adjoining town (say within a radius of CO miles) effectually put a stop to the transmission of goods up country. While in addition to this impediment to business there occurred the usual half-yearly balance among second houses, on 'JOfilii June, and preparation for ifc, a proceeding which always impedes to a serious extent for the time the operations of importer*;. This unproductive, but needful pause, however, in the progress of the commercial year got over, there is every reason to expect a rebound of active business for eomc time. The greatly enhanced values of many descriptions of goods that hive taken place is not to be expected should have been all at once obtained under any but one condition—viz., that of the market being completely bared, and the demand eager. Our supplied, though not over abundant, are yet in many leading articles of consumption sufficient, and buyers therefore, till further impelled, hang over the increased prices. In the ease of ironmongery, and all descriptions of goods produced from iron, the advance is now pretty well regarded as established ; but, as in galvanised iron, in relation to slates or other description of roofing, the ultimate and proportionate conaumpt of ono article, the cost of which has been enhanced, may be lessened, while another, not uo enhanced, and which is used instead, may be proportionately increased. There is still. equal room for the satisfaction that lias for a long time prevailed respecting the 'healthy state of our trade and commerce. Ordinary trade risks have for many months hardly included bad debts ; and merchants disposing of eargoesi in the auction mart*, prefer guaranteeing their own bills. Supplies of goods are happily not coming forward too rapidly, though there are lines of which the market has been for some time bare. And it is to be borne in mind, that in addition to tht demand, which is certain to spring tip for every description of building materials, coincident on the public works already begran being more widely sot a going, as they are on the eve of beiug. The largo number oi immigrants to come from Europe in connection with the railway scheme will also (having tc be fed and clothed)," give considerable increase to trade. The current rates of discount and exchange are as follow :■— ; RATES OF DISCOUNT. On bills under 65 days' currency,(ss pr. cent do 95 do 7 do do 125 do 8 do do beyond thelatta-term, 10 do KATKS OK EXCHANGE (sJ-.LLINu). Upon London at sight ... 2pr. cent. prem. do 30 days'... H do do do CO days'... 1 do do Upon Melbourne £ do do Upon Sydney and th c other Australian colonies... .1 do do BKEADSTL'KFS AND CUAIX. (Duty on grain, 9d ycr \QQ lU\. ; on flour, Is per 100 lbs. ; on rice 4a 2d per 100 lbs.) The grain market has remained firm during the month, sustained by the tone of the Melbourne market. Tiacre has been little fluctuation. Millers o,Ter from Hs to f>s -id, for good samples of wheat, but farmers continue to hold for 5s Cd. This they are not likely to get so long as atrtvka of flour are plentiful, as they are at present. First-class samples of barley lw,vc been scarce, and remain so. Good ]W,le malting is in request at 5s fid. For inferior lots the quotations are 3» Od to 4a. In oats no improvement has been experienced, and' the current rates through the jnorth have- been from Is M to Is lOd. Filour sustains its value, having been quoted every week successively at from £13 to £13 10s. In Melbourne the price is £3 in advance on these, quotations, and, it is not likely to decline. According to the Melbourne Age there is a deficiency in the year's stock of Victoria of 110,376 ton?. If this, be the .cafseinjllerg here, equally, m there, .are wU^Hml. ~ f,. . . .

MJ£ ASV ftEEIt. (Duty, Is 3d per gallon in glass, and Is per gallon in wood.) The demand for imported beers is not improving, there being only a very limited sale for a few favourite and established ■ Lrauds, which is being lessened as the improved quality of the ale produced hero comes to be recognised and appreciated. On I lth June, Messrs M*Landr«>s. Hepburn, ami Co., at a clearing sale by auction of genera! merchandise, disposed of the following lines : —Blood's stout at Sk 6<L in bond ; Anol s stout, slightly out of condition, at ss, iv | bond. Values {in bond) arc, viz. :—Brss's No. 3, £7 ; No. 4, £7 10s ; Mamaii's No«. 3 and 4, £7 10s, Ala* in glass—Tennent'p, Oft; Arrol's, 7s Gd ; Jeffrey's stone ale, 7s yd. provisions. (Duty, Id ]>erlh.) Colonial provisions have not hardened to the degree that was expected as the winter season wore on. For prime batter quotations have reached from 9d to lOd. Good Canterbury cheese, not coining forward readi'y, is quoted at from ssd to Od. Bacon in rolls, local cure, is worth 7|d ; haras in cloth, !)<!. Hams anil bacon taccessfully compete with the imported article ; the more especially, that while the cost of the latter ii advancing, the local cures having increased skill and care brought to l*ear on their manufacture, aro becoming of increased value. At less than three-fourths of the price, they are attaining rapidly to the name excellence of quality, Wo may remark that among staples of colonial produce the demand for shipment of hemp and flax is in excess of the supply. Wool operations may be said to be closed for the season. OITjMKN'H NTOR.ES. (Duties, chiefly 2s Gd par cubic foot.) A very regular demand exists for the ordinary run of. goods that come under this heading. The supply of current wants has exhausted some leading articles. Current ({notations, duty paid, are;—Pinfc.pickles, lls 3d to 11k Ud; jatas, English and Scotch, 9s ; ditto, new Colonial, (is to 7a 3d ; sauces, assorted, 7» Gd to 8s ; do, licaund Perrin\ 12s 9d to 13s ; bottled fruits, 12.Ht0 I.'JaOd; salad oil, pints, 12s; do. half-pint«, 7b Gd to 8s; castor oil, pints, 9s Gd ; do, half-pints, 5« 3d to Gm ; Colman's mustard, lib tins, lls Cd ; do, half lbs, Gs 61 ; do, large tins?, 8d per Ib; Cohnan's starch, white ami blue, 4£d to Tkl ; vinegar, Champion's (duty fid), per gallon, 2s (kl ; do, in glass, per doz., \on 9d; do, Burnett's, iv gloss, per doz., 9s Gd ; do, Morton's, in glass, per doz., lOis 6d ; cocoa and chocolate, Taylor's, Is4id to Is {kl; matches, Hull and Black's, 2- r>ofi per groes, 21s to 223 ; do, Palmer's, 21« Gd ; do, Aubtin's, 19s to 20s ; do, Dowlor's, 20b to 21a ; sardines, halves, 12s ; do, quartern, 7» ; salmon, 14b; oysters, 7« ; lobsters, 10h Gd ; ling, 4M ; herrings (red), in tins, 325. IH/IMUMJ MATKftIALH. (Duty on Sawn Timber, 2s per 100 feet; on Galvanised Iron, 20s per ton.) In anticipation of extensive public works, prices aro well maintained in every description of building materials. In timber the market is well supplied. Scotch flooring, linch and I^-inch, is in moderate stock. Oregon is in large supply. Lumber and shelving arc less plentiful. Quotations areAmerican lumber, T. and (1., per 1000 fret, £11 ; white pine shelving, dressed, £13; Baltic flooring, G x H, per 100 feet rg., 14n; do, G x 1, 13s Gd ; do, Gx A, 8«. Of cement the market is bare ; the last quotation for Portland, d. p. (Is) is per barrel, 22s Od. Slates are not to be had : current rates for DuehcHscß, per 1000, £18 ; do Countesses, £14. Of galvanized iron importers' hands lire entirely cleared, none of the brands generally plentiful remaining in first hands. Extreme rates are ruling for sales effected from the ironmongers. It is thought thai with the probability of high prices being maintained* the- use of slates may be induced instead of iron ; but as slates are scarce, a consignment of galvanised iron arriving now would doubtlcHS meet with ready sale. It is impossible in the present condition of things to give current rates with absolute correctness. Among the latest quotations are—OospcJ oak, 2C gauge tinned, per ton, £38; Tiger brand do, £38 ; Lyscighf; do, £34; Lion brand do, £34. iron goods of every description—boiler plates, hoop iron, bar iron, tin plates, Ac,—have partaken of the extraordinary rise in iron. Fencing wire is scarce, but in good demand both for railroads and private use. Last quotations are —J. C. Hill's, No. G, £22; No. 7, £23; No. 8, £24 ; but of this brand none remains. SPmiTH. (Duty, 12a per gallon). Spirits have not advanced a» was anticipated. Henessey'K brandy remains firm. Whisky, in trade parcels, has moved off rather more freely ; but the demand has lessened, from the locally distilled becoming more popular. For Olenlivct and Islay there will always remain a limited request, (ieneva is held principally by one house, who require 14s. Current quotations are, viz. :—Brandy in bulk, Hennessy*», 7» 3d ; do, Champagne Vineyard, Gs to Gs fid ; do, Renault's, Gs 3d to Gh Gd. Brandy in case, Henneasy's, 27s Gd ; do, Renault's, 25s to 20s; do, Otard's, 25s U> 265. Whisky in bulk, Kirkliston, 3s Gd to 3$ 9d; do, Islay (Sheriff's), 5s ; do, Ardbeg (Buchanan's), Gs 3d ; do, Danville's, «r>« i)d ; do, Ben Nevis, Long John, 5s 9d ; do, I Thorn and Cameron's, 4s Gd—Whisky m I case, Bernard's Scotch, 13s Od to 14s ; do, Long John's, 17s; do, Danville's, 17s; do, Thorn and Cameron's, 13s. fiisoATia. (Duty, 9b 4d per cwt.) Durina the month, more than anything else, this important staple has commanded attention. This has come about as the result of advices from Mauritius and Melbourne, with the* influence which advices from the former place had produced upon the latter. It became known that only one vessel remained loading at Mauritius for j Melbourne, and that stocks in Melbourne I had come to centre almost entirely in one firm. At the sale in Dunedm of the cargo of the Parana, tho competition, especially for whites, was very keen, resulting in an advance of fully £2 per ton ; pale yellow and b-own crystals having been passed in, the biddings not reaching importers' reserves ; The balance, together with a parcel of 3696 pockets ex Racer, was on a subsequent occasion offered, the whites, or a considerable portion of the lots, being sold at prices fully maintaining the advance, but yellows being again passed in, for the reason already specified. The relative position of buyers and importers ia here very much the same.as it is in Melbourne. There a struggle has been maintained, which the Melbourne papers predict will terminate in the buyers being forced to come to importers' views. It will probably issue similarly hero ; Dunedin importers are equally confident, and as advices arc well authenticated, and stocks light, they will probably prove correct. TEAS. j (Duty, Gd per Ib.) There has been for some weeks a slight indication of improvement. A fair amount of business was done about the beginning of the month, and at advancing rates. Stocks of low and unsaleable teas were relieved to tho extent of 2000 packages, shipped to Melbourne. More recently tbe improvement has been noted as going on, the movement being confim-d to boxes. Some sales of slight "importance wcrt known to have been effected, and a speculation to a limited extent entered into, the tendency of which has been to harden the market. In chests and half-chests no change has been effected. Values in bond aro, viz. :— Congou, extra fine, from Is 'Jd to 2s ; do, medium to fine, from Is 2d to la 9d ; gunpowder and imperial, 2s Gd; orange pekoe, ,Is 9d to 2s. (Duty, 4« per gallon). 1 The. market is well supplied with ports and 'sherries.1 Sales of wines give'rise to little 'remarkv ' and a belief prevails that there ib a Jess,-.sustained..enquiry, fot.lowci an4in t c4jum goajitieq^ of thesedcgcrip/fciOPfi.

But the value of; transactions is best learned. from tho customs returns j and these exhibit a remarkable,similarity from month to mouth- Approximate quotations for fait wines'of the several classes are :—Ports o£ superior descriptions, £G5 to £S<) per pip©;, ditto, medium qualities, £40 to £"60; common, ditto, £20 to £35; sherries, 4, 0, and 8 diatnond,.£Go.to £ 84; clarets, common, 11& 6d ; sparkling Moselle {l^uihard's) --Quarts, 3S?; pints, 425. Special qnotations of ports are: —Hunt's 1, 2, 3, 4 diamond, £36 to £75 per pipe ; Hooper's 3 and 4 diamond, C45t0£68. TOBACCO AND CIO A JUS. Duty—Manufactured, 2s (>d per lb ; sheepwash, 3d per lb ; cigars, P» per Ib.) The market is well supplied, and sales of late have been light, values will bo best conveyed by reference to a largo nalo by auction, ox Alice Ball and Belie, recently hekt by Messrs M'Laiulrcss, Hepbnru, and Coy, under instructions from the importers, Messrs Neill and Co. There was a large attendance of the trade, but the bidding lacked in spirit, and the sales effected were limited. The following prices were realised :—Diamond. (.) in pound, Is lid; Estremadura^ light pressed, 2s ; aromatic, navy 4s, la 2d ; H«, Is 2d ; aromatic, f-lbs, Is Id ; fancy aromatic, Is2d ; honoydew, l-lbs, 64d. nniUD khvits. {Thity, <h\ perlb.) Tho demand for these accessories to tfe«. lighter grocery trade is not improving. This is owing, in part, to tho increased supply o£ green fruits. These are largely cultivated, and in even remote districts the product o£ the garden is found ; while to our owrt growth is added that of other places where fruit is cheap and abundant, and of wfiicb. regular supplies arc maintained by spc<xly nnd frequent inter - provincial and intercolonial means of communication. Closiug quotations (duty paid) are: —Jordan almoads> Khcllcd, Is 9d to 2b per lb ; dried apples, 4;|d to ">d ; currants, -I.^l ; figs, 7lb boxes, 8d ; «'ajie raisins, G£d ; Valencia do, Gil? muscatel layers, lid ; sultanas, 7id to Sd ; soft shell almonds, 10.JUI to lid; Barcelona, nuts, fi.'jd ; French prunes, glass jars, Is JJd1 ; Klemc misins, Od.SUNDIUE.S. Camlles (duty, Id peir lb), have sustained a recent advance of |d per lb. A slightly increased business lias been done at prices varying from ll.jd to 11 Ad. Malt (duty, Is Gd per bushel). —Brewers having now become, in the majority of cases,, their own maltsters, using colomnl grown )>arlcy, thu demand for Kuglish malt is o£ necessity lessened. Colonial malt is produced, and is now quoted at 7s. There exists, however, still a firm demand for En^litth malt, which is worth at present about Us. Hops (duty 3d per lb).--Kent**, 1871, ate quoted at 2s (id to 2s i)d ; Tasmaniair, 1372, '2a 3d. These latter are now giving great satisfaction. Hemp floods (duty lsGd per cubic foot). — Some little speculation has taken place during the month in corn sacks, which have advanced considerably in price. Hales have been effected at His 3d, but it is doubtful i£ this will be sustained. "Wool packs aro out of the market, and out of season. Kerosene (duty, Gd per gallon).—Stocks in bond are abundant. Trice has slightly declined. Tho last quotations are frou* 2s to 2s Id, in bond. Salt (free). —Liverpool salt, coarse amE fine, has advanced suddenly ; stocks aro low, and in second hands. The last quotations are from £5 to £5 10s.