COMMERCIAL.

Otago Daily Times, Issue 3863, 4 July 1874, Page 3

COMMERCIAL.

We have not had, for a long series of months, to record of any one such barrenness of activity, as. we have now to do of that which is made up of the four weeks ensuing on the publication of our last Summary. Dullness from no special cause his persistently prevailed—that is, from no ono pronanent, evident cause. The season has pretty well advanced (we have got to midwinter, nominally, but as usual are only now beginning to realise its reality), and up-ccuntrv storekeepers have laid in their principal (not their entire, but their principal) winter supplies; and hence—partly to this, partly to difficulties of transit that now begin to be felt—maybe ascribed the lull which now prevails. Should we be favoured, however, with a mild winter, orders will not be. suspended—for moderate cartage will encourage their continuance. A repetition, however, of the old grievance—roads partially impassable, traffic impeded, and cartage advanced—varieties of our chronic winter distemper, we are not likely altogether to escape, but have again, and still perhaps again, to endure, until indeed the rails are generally laid, when trade supplies independent of winter slush will go forth as the need arises, in a more equable and as we believe to meet an increased ratio of consumption. Latterly, shipping coastwise has been very active, and parcels of considerable amount have gone north. We are gratified te notice that shipments from Greafc Britain bear no exaggerated relation to our needs, but rather the reverse. In the eight ships reported to 16th April as loading for Otago, there is considerable reduction in cargo values. To the various ports of the Colony, the total reduction during the four weeks ending March 25th, amounts to £36,200, the total values being £219,400, while during the preceding four weeks they reached £275,600, a difference of about 20 per cent. And this is the more satisfactory that the clearances during the same period to tho Australian Colonies show a result the very reverse, viz., an increase of L 13,900, those Colonies that claim this sum among them being Melbourne, Adelaide, and Tasmania. We will note the differences that particular items to our own port exhibit. Of rail and general machinery, there is destined to this port, value L3o,9o4—the previous four weeks shewing L 26,096. This item does not affect the market to any appreciable extent, being almost entirely to the order of the Govern-

ment in the carrying ont of public woiks. Slates are.happily nil. Cement is quoted 480 barrels againßt 1330 previously. Brandy in bulk is 8246 gallons against 12,888 do. Brandy in case, 2906 gallons against 6494. Hum, 2551 gallons against 0150. Geneva stands 1680 against 4273. R»d wine, 454G gallons to 2978. White wine, 5394 gallons against 5776. Beer in bulk, 150 barrels against 121. Beer in glass, 7G6 barrels against bin. Galvanized iron, of all things the least desired to have stocks increased of is advised 128 tons as against 98. We casually referred in our last to the question of free trade among the Australasian Colonies, and to the eventuality of tho ease, which amounts to its sooner or later being adopted by one and all —by New Zealand, and by Victoria with its mongrel protection abortion." On this occasion we would notice a Memorandum on Inter-colo-nial Free Trade or Reciprocity, agreed to in Council at Wellington, bearing the signatures of Julius vogel, Colonial Treasurer, and Wm H Reynolds. Commissioner of Customs, and published within these few days, but which is so restricted as to the articles it refers to 'enumerated m a schedule attached) that its effects, we humbly conceive, could only be the very baldest possible, lo would appear that the Colonial Government, convinced " that Conferences of all the Australian Colonies lead to misunderstandings rather than to arguments " (one reason being that theircireumstsncesareso different), have adopted instead the plan of negotiation ; and by way of initiation, have put forth their sentiments in tins memo., the schedule appended to which is the following :—" Grain of all kinds, flour, malt hops, ale and porter, Colonial wines, New Zealand flax timber, jams, butter, bacon, cheese, nsn, fruit." The various considerations by which they hayo been guided in selecting these articles being-" fa). That they are sufficiently important or useful, or likely to become so, to make it desirable that agreements-should be entered into about them. (b). That they are not of a nature likely to occasion difficulties by importations of foreign goods being palmed off as native productions. (cJ.Tnat.they. are articles which it is so essentially reasonable the Colonies should exchange and be dependant upon each other for. that Great Britain and other countries would not be justified in complaining of the arrangements aa injurious to their commerce, or prejudicial to their interests" bo far, so well, inasmuch as, by this proposal, it is evidenced that, to the subject of free trade our politicians are gradually becoming alive, that, perhaps, by foreseen issue?, they are beginning to find themselves even already on the horns of a dilemma. The above schedule is very innocent in itself; but, short of our whole trade being relieved of every tariff and fiscal burden, nothing will afford scope commensurate to what our merchandise and manufactories require But the necessity in such case of having to impose direct taxation, whereby a revenue may be obtained, is a puzzling, frightful boglo right in the path of such a move. This, our law-makers well know, would be highly unpopular, and might even for a time prove injurious to tho great question of the day—immigration. Until necessity, therefore, imposed by the action of pur neighbours-speaks loudly, and practical men, through our Chambers of Commerce, express themselves firmly, this ultimately indispensable measure will continue to be deferred or made the subject of reciprocity notes and negotiations. We may notice that, at a special f w %aL tl6 B? nedi* Cbaniher of Commerce, heldon24thJunelast, some important suggestions were considered in relation to an Insolvency Bill about to be brought before the General Assembly -Clauses were advised to be inserted, making provision for the protection of shippers of <*oods on consignment from foreign ports which may be m transitu at the time of the insolvency of the consignee, and seeking to provide more detmite protection for the consignor, re "oods in the possession of an insolvent at the time of his bankruptcy. These are important matters, and it is.to be hoped the various Chambers throughout the Colony will furnish the Government with practical suggestions and advice. BREADSTUFFS AND GRAIN. Duty on grain, 9d per 100 lbs.; on flour, Is per' 100 lbs.; on rice, 4s 2d per 100 lbs.) Millers' quotations for flour remain unaltered, but _which we repeat, LI2 for sacks per ton, Ll2 iOsfor small bags. At these prices a steady satisfactory town trade, has been done, and ever j since our last, shipping to Northern ports (to t Auckland particularly) has been very active. In j wheat a geod enquiry has likewise ruled, and shipping coastwise northerly, been also active For prime milling samples, 4a 6d may be quoted as the average price which has prevailed. Oats are not brisk, and have beeminiformly quoted 4s 2d. _ Barley has attained to only a limited demand. Two weeks ago the sale of a parcel of 800 sacks, prime malting, 5s 3d, was reported. It is a matter of vital interest to us, as growers and exporters of grain to the United Kingdom, that we take note and record the measured or throbbing pulsations of Mark Lane, and just at present the report of its able exponent, Mr H Kaines Jackson, as it has reached us in the columns of the Times, should have the effect of allayinganyevilreportswhichmayhavearisenThe following passage from his letter to the leading journal of March 7 will be read with interest: - Up to this date actual, sales, often under pressure, have shown a loss of fully 7s per Quarter on American, Russian, and Californian. • The immediate cause of this great change m midwinter is definite, may be-safely ascribed to the unparalleled mildness of the weather in Northern Europe and in America, where the most unusual ahsence of frost and snow has allowed of transit in an extraordinary degree. Notwithstanding the facility permitted by the season, the total amount of supplies actually forwarded bas not been, as I believe the primary cause of value falling, for the bulk has not exceeded our requirements, nor his it allowed stocks to increase, alth ugh consumption has been estimated at twenty per cent, less than it would have been had the winter proved severe. It is only as influencing opinion that the weather has reduced prices; and, if correct, tlua view demonstrates a great fact in commerce—that what makes a market is opinion, and not altogether the,actual level of supply and demand." Nothing, he affirms, has occurred to derange the estimates formed of the bulk of breadstuffs wanted for the United Kingdom, which were not under ten, and not exceeding eleven, quarters._ As regards the imports of wheat and flour received, he makes this remark,- after quoting from Beerbohm'slist:—" We are therefore receiving fully as much, but not more than the country requires, for consumption and the maintamence of moderate stocks." It would appear that cargoes on passage to the United Kingdom during the months of February and March have been since 1871 about one and a half million quarters. For the six months ending February 28th, they have been, during these-years^ ALE AND BEEB. (Duty, la 3d per gallon in glass, and Is per gallon in wood.) " It is some time since we have had to report j that ale in glass is slightly languishing, and stocks , for the present sufficient. Nor does it appear that stout has taken its place, although consumption is rather of that than of ale during the winter. Still, we may confidently calculate upon the usual increased demand springing up, and coatinuing for some months; and such being the case we do not regard stocks as being the least in excess. Current quotations are-— For ale in bulk (in bond)— Bass's No. 3, L 7 • No. 4, L7los; Melvin's Edinburgh, Nbs. 3 and 4, £6 10s; Marxian's, L 7. Colonial, L 4 10s to L 7 10s. Porter, Colonial (in bulk), L 5 to !L6 10s. Ales in glass- Colonial, 10s, all over; Tennent's, quarts (in bond), 10s 6d to 11s | 6d; Younger's, quarts, 7s 6d to Bs. Porter in "lass —Guinness's, quarts, lls9d to 13s 6d: Pio- Brand quarts, 11s 9d to 13s 3d; Blood's, quarts, 13s fed; Machen's, quarts, 9s 6d; Younger's, quarts, 7s 6d to Bs. WINES AND SPIRITS. ' Duty, wines, 4s per gallon; spirits, 12s per gallon.) : In wme3 there is nothing to report. There are improving changes in spirits to note, which are attributable to the rise which may be considered as established in brandy. This riso has, in the actual transactions of the Dunedin market, been confined as yet to second brands, which indirectly have been thus benefited by the augmented rates for which Hennessy and Martell are firmly held—a steady demand at these bettered prices existing. In Hennessy, no disposition has been manifested to advance to the rates which are demanded, only a few sales having been made at 323 and 30s 9d, these prices being at the usual advance asked, although we bear of one house firmly holding for 32s 6d and 11s. Importers rely on their advices, and regard rumours of decline as tho indication not of any. actual cause, but of the. ebbs and flows merely of opinion or speculation, and are determined apparently not to yield. Whisky continues to evidence a slight degree of improvement for such superior brands as Glenury or Glenlivet, the difficulty in moving the less choice descriptions remaining unaffected. la geneva, the market is well supplied, but the demand moderate, for trade parcels tbe quotation being 13s 6d. Rum is decidedly slow of sale at very unsatisfactory prices. Present quotations are:—Wines—Port, medium, 2 or 3 diamond, Lll per qr-cask; superior do, L2O. Champagne — Best brands, per doz., in glass, L 4 10s to L 5. Brandy — Hennessy's, qr-cask3, per gallon, 10s to 10s 9d : Kartell's do, 9s 9d to 10s 6d; Ecnault's do, 8s 9d to 9a ; Hennessy, in case, per dozen, 31s to 3ls 6d; Mai-tell's do, 31s to32s. Rum, 10 0.p., 3s 7M; do, 30 0.p., 4s per gal. Whisky m bulk—Kirkliston, at per gallon, 3s 6d to 3s 9d; lslay, Sheriff's, at per gallon,. 5s 3d to 5s 6d; Bernard's, at per gallon, 4s 6d; Begg's Lochnagar, 6s 6d to 7s. Do in case- -Campbelton, per dozen, 17s 6d; Taylor's do, 17s 6rl to 183 ; Bernard's Scotch, per dozen, 17s ; Dunville's, at per doz., 17s 6d; Thorn and Cameron's, at per doz., 15s; Begg's Loclroagar, 17s. Geneva—JDKZ, 3 gals, per caso, 13s (id to 14s 6d. Gin (O.T.)—Booth's and Burnett's, 13s 6d to 13s 9d. Rum, in case, Red Heart, 27s GJ; in bulk, Lemon Hart's finest, 4s 4d. PKOVISIONS. (Duty, hams and bacon, Id per lb.; potted fish, 10 per cent, ad val.) There is no change to report on articles of food

coßsumpt thus classed. Applying to local products nearly entirely, not much variation occurs in the middle, nor until nearly the change, of either season. Hams and bacon, English, very scarce in the market, are reported rather easier ; good Colonial continuing difficult to procure, although in this respect slightly improved! Olieeseis in good enquiry, but prime qualities scarce, prices for really such bem<* quoted at trom 72 to Bd. Butter is also scarce, anrl worth from Is 4dto Is od. Quotations for preserved fish are aa follows:—Lobsters, lib tins, dp per dozen, 12s 6d to 13s 6d; oysters, do do 7s Od; sardines, quarters, 5s 9d; do, halves) oilmen's stores and groceries. (Duties, chiefly 10 per cent, ad veil.) Up-country business being {reported since our last dull, it applies very especially to the numerous classes of condiments and needfuls which these above-named designations embrace, and I which form a large portion of the tr.tdo to upland districts. Town trade is regular, though rather restricted; but being so, and added to the other, follows that stocks remain but little altered— not full, but sufficient. Advices from Home are of limited shipments, and it is to be hoped that our friends there will not exceed in this respect-the same difficulty bem°- I still experienced m obtainingremunerative prices Current quotations are as follows :—Arrowroot' bd to 8d; jams and jellies-English, 8s 6d to 9s per doz; do, Colonial, 8s per doz; mustard, Coleman's, lib tins, at per doz, Us od; ilb do, at per doz, 6s to 6s 6d; castor ml, Morton's, pints, at per doz, 10s 9d • i : pmts do, at per doz, 6s 6d ; salad oil, pints, at per doz, 12s; J-pints, do, at per dozen 7s 6d to 8s ; pickles, assorted, Crosse and Blackwell's, pints, at per doz, 13?-" Mortons do pints, at per doz, 10s. SaucesLea and Pernn's, half-pints, at per doz, 12s 6d ft iV Kackwell's do, at per doz, ft dl BA\ tys Nabob do ' at Per doz, lls 6dother brands, 7si. 6d to 8s; starch, Colman's %\ I7#d to 4s(1' Colman's blue, 4M to 4MGlenfield patent do, 7£d ; vinegar, Champion's' tnFZ f H?' 2s|r dL dO, do in «lass' at Per doz 10s 6d to lls ; Morton's do, at per dozen, 10s.. Matches-Bryant and May's 250^, at per gross, 21s to 225; plaids, 4s 9d; fancy boxesf 25tfs at mLI5 rOi% 23i plaida ' 4a 9d5 Bell and Blacks^oO's, at per gross, 22s 6d; Palmer's 2o£s, at per gross, 225; Robert Bell and <X 250>s, at per gross, 225; plaids, 6s 3d; Austin's 2oO's, at per gross, 225 ; plaids, 5s 9d to 6s. BUILDING MATERIALS. .Duty on sawn timber, 2s per 100 feet; on galvanised iron, 20s per ton. The market for the various articles that are thus used continues in everything very full Galvanised iron has not improved; for although the reduction of stocks goes on steadily prS remain unadvanced to what would render late Sftfiuß* aDd "V*"* -to noticTttt no fifaW a tons l "M«l™edto 16th April as ftr this port, the only redeeming point in reference' Cerent remains in full sufficient supply •Zi tivelvSJ? qT^h advised comparawJlS?b~° n y-4t"°i)arrels' as against 1330 barrels for the previous four weeks. Of foreign timber-Oregon and Baltic-our supplies^ met, > Quotations for imported timber a?e -- TO?'"T*^ \ and G 'per100° feet. d R Ll3 10s; white pine shelving, dressed, d p, Ll4; Baltic flooring 6 xM - per loco feet % 14 do, 6 il, 13s 6d; do, 6x %, 10 3 ; do, 6x j 8s • Ll7teLi?'lf me-riC? n ' sd; °regon, a^rtTd,' to 17?- iSI inU^ P1? c' Per 100° feetsuper, 16s to 17s y pine, 10s od. Approximate quotations 'or Galvanised iron, are :~Morewood's 26 gauge L 34 LmS^V- G°4 pelPak an<* Tiger brands, SUGARS. (Duty, 9s 4d per cwt.) thtrZf^Tf^ Sale t0 test the »"]«* <* f™£ wt E6finery su Sara> whicn ™ notice 1 m our last there was the prevalence of a con siderable lull and still the demand is far from hyely. On Friday the 19th ult., Messrs MW occasion there was a largo attendance of the trade, including all the principal buyers, but fesied. S P°Sltlon *° >y extensively manifested. Ihe amount disposed of little c* ceeded £1000, prices reached being-for K oS T^k ma ; wne w^ te» *33 12s 6d ; finest do, L 35105. We would notice on this occasion the onTe emh° 2 Ba SerT '^f De afc SiS on the 27th, 28th, and part of 29th March last and -which m the general damage, haT «iu?ed considerable injury to the plantations. Ittame unhappily at a time when the caries were fSrr t C/Aw d t r Sn Of "° Vi°? e, nt and disastrousa^naand (scientifically) interesting account of its P roj gress, and adds:-« There cSn be no doubt that a large diminution m our staple must be antici- ! JSSSS.^KSS;SSSJ^ acreage of canes which now appear destroyed will be saved. Anyhow, it is impossible but that the ensuing crop will show a very large reI n.vtT- °n q^ntifcy estimated a forl n.ght since, when it rwas believe,!, by good toS» BvJT 1* reac^. 120,000 to 123 000 tons By the comparative statement of shipI Z! 8f frir tnebe^mngof each crop to Ist April forthreeseasons, we find that an increaseof quantity is set down as exported to thk Coionv which is very^remarkable. Of the crop 1873-74 S™.™^ 13.490,9661b5; buto? that of IJlfinA™o^ *?*?** we have only got 9,783,3041b5; and of that of 1871-72, 5,666|95 lbs. The increase, in the course of these three tius, it would thus stsem, is something like 150 m T 7 T™i ourP°P^. a«onhas onlyincreased 16.74 per cent j and whUe, also, our shippers have, dunng the whole of the time, beeadraTra from Port Louis, or via Melbourne; and, at any rate, whrie proportionately to our varying consumpt (say an increase, from 1871 to 1874? of 20 per cent) sugar has been a sufficient import.and ?tm aJl Clen\ 1 b7Son?e^ in»like 13° cent It may bo partly explained by part cargoes having reached us via Melbourne, which wo^d not at PortLouw be S et down for New Zealand; xt It. c 4 tate.menfc is not satisfactory, of our Northern Provinces (that only very recently have imported direct cargoes) were larger importers via, Melbourne than we su£ (posed. The import for the uresent year |we may say is borne out by reliable* returns, and Ab.tsc6tte.nly a Te ry large consumpt per head. We once reckoned it as being 71 lbs per head perannum-as less than Victoria, but as being three times that of the United States, fif- | teen times that of Prance, and thiity times that of the various countries of ths Continent of I Europe excepting France, The Commercial Gai zette quotes whites,- No. 16, 6dol. 25c; to No |20 and above, 7dol 15c; yellow crystal? Ist \ quality nominal; 2nd do, 6dol. 60c; rations, |4dol 25c to -5d011.50c. May we venture one word on the possibility of producing this article of such laige consumpt in our own Colony—in our own Province ? There is nothing to hinder: much to say in its favour. If Ireland be considered an appropriate field for the production of sugar, (see the Dublin UHiversity Magazine for February), why ahould not New Zealand-why not Otogo ? First of all, there is at least a modicum of impolicy—surely there i«?— in trusting for our supplies to a country liable to such sud" den tropical disasters as the Mauritius, and which jis by no means financially in a prosperous condition—which cannot be, when the normal state of the planters is, that large numbers every year "go to the wall," whether the crop "be good bad, or indifferent;" and when this year it is put iorth as a comparatively fortunate prospect that 'our estate proprietors" have no worse before • o^n a,utodlsbllrs? tllie Prontstneybavemade since 1869. Experience shows that sugar is a product of eveiy clime where vegetation nourishes. In the temperate regions of the globe it is developed with aa much fecundity in ! the roots of one of the varieties of the beet as it is in the stem of the cane." While the cane requires a high temperature and a brilliant rnn, the beet-root even in temperate climates, exposed to the sun "is almost valueless for the sugar factory." Eussia and Poland produce 125 000 tons per yean Throughout Europe there is produced 1,123,000 tons per annum. TEAS. (Duty, 6d per lb.) In this important staple, and valuable import, the demand has not improved sufficiently to be satisfactory to holders, and stocks are still fulltoo full—for the period of the year at which we have arrived. The new season's teas, at the ' soonest, cannot be upon us for some time ; but even thus soon they are looking forward in Victoria, to the arrival (possibly by steamer) of the earliest of the new crop, the effect upon stocks in liana, of this possibility having been felt rather depressmgly there. If to any dpgree, however our market was influenced by the subsequent advices, it led to a better tone and increase of buamess, an improved demand being experienced I for teas of the higher sorts. Sorting up lines of limited extent have, however, been all with which our merchants have been favoured, larger operations being desiderated. We may remark tliiit the favourite car.<ro of the Nicoline is nearly out of importers' hands. We just learu that some considerable sales of half-chests of good

qualities have been quitted during the past week." Also, that enquiry exists for fine boxes, which are not over plentiful; importers complaining some times thj,t placing medium qualities is a labour of great difficulty. TOBACCO AND CICABB. Duty, Manufactured, 2s6dper lb; sheepwasfc. 3d per lb; cigars, 5s per lb.) Since the damaged shipment of Cameron's twists, the sale by auction of which we reported in our last, there has no transaction of tbra slightest importance transpired. By the William Gifford arrived moderate parcels of Stonewall Jackson and Black Swan twists, and stocks of similar kinds are sufficient for the present requirements of the market, which hWevar, exhibits no liveliness, nor has done for some time. Present quotations are as follows:—Stonewall Jackson twist, from la £ i 0 I s „,' Cameron's Raven twist, from la JV<> Is 9d; Cameron's Venus twist, from Is 7M to Is■B4rt; Cameron's Cable twist, from Is 7d to 1 sßd; Black Swan twist. Is 7Ad; Barrett's twist, Is sd; Cameron's Sisnet, 10's,"in .j and h boxes! ' Is 4id to Is sd, and Is 4d to Is 4id; Orion; lO^ }% 2d 5 koneydew, Slbs, pel-lb, Is Id; do> NTs, lOd to Is 3id; aromatic, Is 3d: sheepwash leaf, Calcutta, 3d; Virginian, 6d; Two Worlds, 10's, lOdto Is 2d. Cigars- cheroots, Ho 2, per ifcO^, L 3; Manillas, No. 2, IA; Havanasdo, Ll2toLls; Swiss, Ormoad's, LI 15s to Ll 17s. DRIED FRUITS. " . (Duty, Id per lb.) It is very rare that changes in these goods are of importance enough to lead to remark: has not, at all events, been the case for some time. Jhe demand has been very equable and we hear of no complaints respecting supply. Quotations maybe made as foliows:-Carran4 4d to Ud; Jordan almonds (sliolled), 2s to 2a lv' wned app- es> 4id; fis3 <llb boxes)> 7d to BAd; Eleme raisms, 6d; Cape raisins, 6id - Val-Wr/^-^i Sultana,, 6&-to' 7d'; Muscatel layers, 9Jd. to ll|d; Barcelona nuts, 61d: , trench prunes (glass jars), Is 84 to Is9d; bottled toBs S6d. 6dj Colonial do P* th*)> 8* SDNDHIFA Kerosene (duty, 6d per gaUon):-In our last we referred to this article as being virtually out of the market-balances of parcels on hand ia bond all sold. Stocks have been since then sufficiently replenished from Melbourne, from the cargoes of the Eureka, William Gifford, and^ other sources, the latter vessel bringin" 1700' cases; these,_ with arrivals at other ports°of the Colony, having speedily had the effect of reducing the extreme rates that had beea prevailing. Transactions have been numerous since this renewal of supplies Two thousand _ cases were reported two weeks ago as sold to arrive, at a price unconfirmed, but mentioned as high, and large pa. cols of Diamond have since then changed hinds at good rates Stocks are at present sufficient to carry on with, till further shipments now overdue come to hand. Candles (duty, U per lb) are in improved detJSs 1! V uotationa ruling have been from H>2u to 10jd; sales are at present slow, but they are firmly held, and approachino-lid -Dundee goods (duty, 10 per cent., ad valorem) —The only line in these goods that still command some attention is corn sacks, and these are duU only a very few being left in importers' hands, and 13s the quotation which prevails Hops (duty, 3d per lb).—No improvement can be reported on our last, no inclination to buy being exhibited by the brewers, who hold off in expectation of a further decline iv price. Malt-Tmported (duty Is fid per bushel) is still unsaleable, large supplies of local and Colonial , coming forward, and rendering it all but impossible to move the other, unless exceptionally Messrs Coxneu, and Moodib report for the quarter ending the 30th June, as follows :— i^l^*^ll^ thJ> oP«ning of Mocks of waste•cmmt^in I de- £ f e^ ed Payments', system, improved country lands, with good means of access.aVe saleable at nign rates. ■■..:. ' Hi J? hare recently sold the River Bank Farm, Cluth'a. district, 258 acres, partly improved, the property of Mr Daniel Dunlop to MrWm. Hay, at £4^2 * The Mourn; Believe Farm, VVarepa District 315 acres partlyimproved, the property of Mr a. Taylor, to J°hn Gegjrie, at £4 2s 6d per acre. . f Ihe Lanibourne Estate, situate at the confluence of the Uutha and Pomahaka Rivers, the property of Mr KylmSved^ "*•»** Per^cre., Land Begg of Anderson's Bay, area 17,000 acres, at £3 per acre. Land also partl^jinprpved. =^1"^ These rates we cannßt but look upon as highly encouraging to owners of improved country freeholds. In suburban lands the owners appear disposed to hold for extreme prices. Last month we offered (on behalf of one of our principals) above £20,000 or at the rate of £150 per acre, for a parcel a little over 130 acres, but the negotiation feU through on the matter oi terms. ■ ■ Town property has advanced, to what may beregarded as extreme prices, especially for choice business sites. Wo have sold the ground and building lately occupied by David Baxter and Co., with frontageto High street of 2o feet, by depth, of 40 feet (opposite ??w ay Sti*tlon) tothe Dunedin Sa\-ing 3 Bank, for 5h HS? ■ W6 I«lmtnat tne-' Colonial Bank has purchased the ground and building now used as offices by nVfi SteJ vart'v aild Co->fr°m Mr B. Hallenft Tr(u%- fe * >Btag^ l y6° ieet dePth)' forthe-sum . of £6000. Really good building sites for private resifences are scarce within the limits of city boundary at from £200 to £400 per quarter acre, and for smufsuhdmsions a rate even higher has been obtained. Good f u «-S? n ates closo *°town "*' scarce, at from"£lo(> rate within the last week. The Money Market.—The capital available for investment on real securities has been, during the past quarter, rapidly absorbed,: and the market is~Sow almost bare of any very large Bums. Six months ago we found it difficult to find desirable outlet for larga sums at anything over six per cent., now, we have enquiries we are unable to satisfy. We quote interest, cv good freehold security, to-day, at 7* per cent, for large, and 8 per cent, for small sums, with money scarce. » c cannot at present see any likelihood 'of interest falling-. A large portion of local rapital will be ehgagea m the operations and business of the new; Colonial i&nk, and a considerable amount will hare disappeared m unsuccessful Joint Stock enterprise. -Wealso understand, that the various Banks.and money lendinJoint btock Companies have their capital fully engaged^