COMMERCIAL.

Otago Daily Times, Issue 11794, 25 July 1900, Page 4

COMMERCIAL.

Daily Times Office, Tuesday evening. The amount of revenue collected at the custom house to-day on goods cleared for consumption was £1460.14s sd. •

A London cable states that silver is quoted at 2s 4 3-16' d per ounce.

A Sydney message states that the Colonial Sugar Company have advanced the price of sugar 10s a ton all round, except No. 3. T,he Colonial Sugar Refining Company, Auckland, have advanced all grades of sugar 5s per ton.

It is reported that the business of Messrs Briscoe and Co., having large trading houses at London, Sydney, Melbourne, Dunedin, Auckland, Invorcargill, and Wellington, has been i formed into a limited liability company, with a considerable capital. The head offices will be in London as "heretofore. The business is perhaps one of the largest and soundest in the colonies, and it is'- reported that the recent boom in the world's metal markets has .placed the business in a position far exceeding that of previous years. Mr Hugh Macneil, so well known in Dunedin for many years, is largely responsible for the firm's success in t-lie colonies, and the flotation of Briscoe and Co. (Limited) promises to forgo another .ioint .stock company link of magnitude in tfie trade of these colonies with that of the United Kingdom. Mr Hugh Macneil, jun., we. understand, will be the managing director of; the new company.

INVESTMENT STOCKS. The Dunedin Stock Exchange report the following quotations yesterday :->- ,-■ National Insurance—Sellers ISs 3d! Standard Insurance—Buyers 10s Gd, sellers 17s 3d. ' . '' • • Westport Coal—Buyers M, sellers £i 2s. National Mortgager—Buyers £1 Bs. Miiburn Lime and Cement OOs paid)— Buyers 18s 3d, sellers. 19s 3d. New Zealand Refrigerating—Buyers £1 18s.

THE WOOL SALES

In their report on the wool market, dated London, May 30, Messrs Dalg.;ty and Co. say: — Apart from those who ■ were wise enough to take advantage of the wild speculation which existed last autumn for merinos and fine crossbreds, and realise locally at fabulous prices, the advance then obtained has been a real misfortune, for it has created a:i amount of financial distrust which has not existed for many years, and which it will take, sonic- time to remove, and from the high prices reached by these qualities of wool, not only have goods manufactured from medium and lower grades of crossbreds to some extent taken their place, but other substitutes have also.been introduced. Consignees have also been placed in a very unpleasant position, as shippers on consignment 'not unnaturally expected that ii it paid speculators to give the prices they did. locally in the colonies, they did so expecting to make a- profit, and that, therefore, they also, would do better by shipping Home, but far from that,, a decline of 25 to 30 per cent, from the very highest point has in many cases been established, and it seems a very moot point, in spite of the continued loss of sheep, how far this drop is likely to bo recovered during the latter half of the year.. One marked feature of last autumn and winter's colonial buying has been, that probably less than usual was purchased by bona fide consumers, and far more than i:suhl by dealers and speculators. The May catalogues show clearly that a considerable portion of the offerings were re-sales of colonial purchases, and we know of many thousand hales of such wool, which have been placed in brokers' hands here for sale and advanced against by them; indeed, we believe there is hardly a Juading broker who has not at this moment largo quantities in this position.

THE MEAT MARKET. Messrs Thos.. Borthwick and Sons report, under date London, June 1:—" Mutton has advanced during the month for best Canterbury from 4id to fully 5Jd, Duucdins and Wellingtons from 3Jd to .near sd, Australians and River .Plates from 3£d to 4£d. These prices aro unusual,, and in the case of ■ lower-class mutton are curtailing the demand, but as arrivals are only moderate and stocks in' London light, there can be little change for some time. A combination of circumstances has. led to these high prices—first, the irregularity and delay caused by .vessels calling at the Cape; second,

the stoppage through foot and mouth disease of live stock from South America; third, the serious deficiency in the turnip crop at home last winter, and lastly, the great drought in Australia. However, it has given an impetus to the New Zealand lamb trade in districts where it was difficult to force it, so long as the home article was moderate in price. As the quality is good this season, and supplies are fairly large, we will hold tho ground.that has been gained. There is no doubt more storage to pay this,season by those who have to hold large stocks to keep their customers supplied bstween the long intervals of arrival. In our •caso we could easily sell out and say to our customers we were short until the next vessel arrives; that would be a poor way to develop a trade. Were it not that the working classes aro well employed there would be heavy losses by bad debts, as butchers are losing money at present."

, SALE OF MURRAYFIELD ESTATE, WAIKAKA DISTRICT. Messrs Wright, Stephenson, and Co. report having sold privately to Mr Wm. Scoular, on account of Mr David Murray, his well-known Murrayfield estate, being sections 3, 4, 5, 15, 10, and 17, block 111, Waikaka; rural allotments 3, 4, and 5, of subdivision 32, block VI, Waikaka; and rural allotments'.l, 2, 3, and -1, of section 31, block VI, Waikaka, containing in all 1294 acres (more or less) of good agricultural land, subdivided into 14' paddocks varying in sine from 6 to 200 acres, and laid out as follows:—180 acres in oat stubbles, 170 acres in turnips, 100 acres in new grass, 100 acres m one-year-old pasture, balance in grass from two to four years old. This fine property was originally part of the late Mr Hugh M'lntyrc's famous Merino Downs estate, and certainly it was one of the choicest blocks. It was acquired by Mr Murray in its natural state some 11 years ago, and since then it has all been improved as above. The buildings, which are good, were only erected seven years ago, and consist of dwelling house of eight rooms, aairy, men's hut, woolshed, barn, implement shed, stable, byre, fowihouse,- shocp dip, etc. Murrayfield is most conveniently situated, being only three-quarters of a mile from Pukerau station on the main line of railway to Invercargill, and distant from Gore, by good road, less than' nine miles. Mr Scoular is to be congratulated upon the acquisition of the Murrayfield estate, and under prudent management it cannot fa^ to prove a- good purchase to him.

Bubonic plague has broken out To leave a trail of death no doubt, A vile, detestable complaint, O'er which few medicines have restraint. Now if it were a cough, or cold, Though e'er so deeply taken hold, It could be cured with remedy sure, Win. .E. Woods' Grant Peppermint Cure.