COMMERCIAL SUMMARY.

Otago Daily Times, Issue 11956, 1 February 1901, Page 1 (Supplement)

COMMERCIAL SUMMARY.

& < BANK HATES. Thursday Evening, January 31. Buying.—Demand, i per cent, discount; 30 days, 1 per cent, discount; 60 days, a per ccnt. discount; 90 days 1J per cent, discount. Selling—Demand, lj> per cent, premium; 30 days, li per cent, premium; 60 days, 1 per cent, premium; 90 days, per cent, piemium. c Telegraphic Transfers to London.—3bs per cent., plus cable charges (minimum). Deposits.—By Bank of New Zealand: Fixed for 3 months,. X per cent, per annum; 6 months, 2 ner cent, per annum; 12 months, 3 per cent, per annum; 24 months, 3£ per ccnt. per annum. By National Bank: Fixed for 3 months, 1 per cent: per annum; 6 months, 2 per cent, per annum; 12 months, 3 per cent, per annum; 24- months, per cent, per annum. By Australian Banks; Fixed for 6 months, 1| per cent, per annum; 12 months, 3 per cent, per annum. general merchandise. Since we published our last summary on tho 15th inst. business in the import market has been good, but intermittent, in consequence of holidays and suspension of business following upon the lamented death of Queen Victoria. Prices generally have been maintained with one or two exceptions, anil although a fair amount of trade is being overtaken, operations for the most part are from hand to mouth. The arrivals during tho last three weeks include the s.s. Abbey Holme, from New York; s.s. Otarama, from London; s.s, Fifeshirc, from London; s.s. Ikhona, from Calcutta; and tho ship Canterbury, from Glasgow. ALE AND STOUT. (Duty: 2s per gallon, or 4s per dozen.) There has been the usual trade demand for ale and stout. Business in imported lines is confined to .one or two leading brands which have established themselves as favourites in the market. The bulk of the trade goes to the local brewers, their output having almost supplanted all but the first of English brands. As an index to market rates we quote the following as agents' list prices: — Ale: Read's Dog's Head, 12s 6d: l'oster s, 12s; Allsopp's, lis; filer and Bell's, 10s 6d;

Daukes's, 12s; Burke's, 12s 3d. Stout. Read's Dog's Head, 12s 3d; Foster's, lis; Kdmond's Pig brand, Us; Johnson s, 10s 9cl; Burke's, 12s; Blood Wolfe's, 10s 9d; Daukes's, 12s; Porter's Bull Dog, 12s; all duty paid. BAGGING. (Woolpacks and cornsacks: Free.) The steamer Iltbona, from Calcutta, has arrived. and is now discharging her cargo of cornsacks and other Eastern linos. A good part of her shipment of cornsacks has been disposed of to arrive on the basis of 5s 3d to 5s 4Jd, c.f. and i.—that is, net cash ex ship, buyers paying all chargcs. Ordinary lots ex store are selling at up to 6s por dozen usual terms. The shipment is just a little early yet for southern requirements, as the haivest is late. , . CAXDI.ES. (Duty: ld per lb.) Business in candles is 'very quiet, as to be expected at this season, and prices are without change. The bulk of the business goes to the local manufacturers, whose tariff rates range from per lb for Electrics up to 6d for National Paraffins, and 6|d per lb for Imperial Paraffins with a sliding scale of discount according to quantity purchased. Imported candles have a limited outlet at 6Jd and 7d per lb, duty paid, for best London sperms and Do Roubaix Jenar's respectively. CKMEXT. (Duty: 2s por barrel.) Stocks of English cement have been increased by recent arrivals, and the market iB a little easier. The ordinary quotation for trade lots ex store is 16s per barrel, but less money is accepted for parcels ex ship. DRIED FItUITS, (Duty: Id per lb; figs, 2d per lb.) The fruit market has been pretty quiet ever sinco just previous to Christmas, but inquiry is now showing a slight improvement, although prices are not'strong. We quote: Currants, 6£d per lb; sultanas, 6?d per lb; denies and Valencia?, sjd per lb. Figs are dull. Layers are out of the market, and are offered at 6Jd to arrive. Small boxes sell at 5s 9d to 6s per dozen, and figs in bags at 6d to 6Jd per lb. All fruit duty paid. FISH. (Duty: Dried, pickled, or raited, 10s per cwt; potted or preserved, 2d per lb; paste, 20 per cent, ad valorem.) \ There is not very much doing in fish at the moment. Ling appears to meet with most inquiry, and sales are made at up to 6d per lb for best brands. American salmon is very firm, best "Red Sockeyo" securing 9s 6d per dozen for talis and 10s 6d for flats. The leading brand, " Cocktail," is out of the market. Sardines sell at prices which vary according to size of tins. Quotations range from 5s 9d to 6s 3d per dozen for halves, and from 3s to 3s 6d for quarters. All fish duty paid. IJOI'S. (Duty: 6d per lb.) Business on spot is confined to purchases for requirements nf Californiau hops at Is 5d to Is 7d per lb duty paid, according to quantity. A few Kents have been placed at 2s per 1!) duty paid. There ore still a few supplies of Nelsons in first hands, and these are offered at from 9d to 9|d per lb net, f.0.b., Nelson. Holders would probably accept less for a parcel. METALS. (Duty: Galvanised iron, £2 per ton; fencing wire and barbed wire, free.) A fair amount of business lias been done in iron and hardware lines, but it also has been intermittent, and values of heavy lines are easier. Galvanised iron is offering at from £23 10s per ton, usual extras, in ordinary quantities, and fencing wire at £12 10s per ton, usual extras. Sheet lead is quoted at £24 to £24 10s per ton for small lots. Oils, (Duty: Kerosene, free; other oils, 6d per gallon.) ' A feature of the month in the oil market is the fall in tho price of kerosene. The arrival of the Abbey Holme with a large shipment for this market, coming as sha did in the middle ol the summer season, had a depressing effect upon values; while before her arrival sales were made at Is Id to Is 2d per gallon foi ordinary lots, supplies are now freely obtainable at lOjkl a gallon. As there is still a fail quantity on the way, holders do not antici pate values to harden. Raw and boiled linseec oils move off at 4s 6d and 4s 8d per gallor respectively for small lots, a concession oi these rate 3 being accepted for any quantity Castor oil is selling at 3s 9d to 4s per gallon and turpentino at 3s 9d a gallon. All oili duty paid. hips. (Duty: Free.) There is not very much business doing ir rice. Recent advices report the market ad i vancing at port of shipment, but values ari not affectcd. Sales of ordinary lots are madi ; at ils to £15 10s per ton. . Stocks of.Patni ■ rice are very small, but there is no great dc i mand. Purchases for requirements are mad , at. up to .£l3. per, ton. SPIRITS. ■ (Duty: Bulk, 16s per gallon; proof, bottled i 16s per gallon.) > I A fair trade has been done in spirits sine tho despatch of our last summary, but ther • is nothing of special interest to report A i usual, whiskies are most in demand. Value l are unaltered, the brands which estal 1 lisbed a footing in the market selling a , agents' list prices, which rule somewhat a - follows:—Brandies: Hennessy's, 36s to 37 , per case; Denis Mounie's 31s to 32s per case r Martell'is, 35s per case; Bisquit, Dubouchi ; 6s 9d per gallon and 21s per case. Whiskies 1' Thorn and Cameron's Old Highland, 7s to ' . 6d por gallon; Lochiel, 6s Sd to 7s per gallon L Dunvilie's, ss; Long John, 7s 6d; D.C.L - 7s 6d per gallon. In case whiskies we quote D.C.L.. 20.?: Dunvilie's, 15s: Burke's, 15s s Walker's W.W., 20s: Old Ship, 18s; Gael '. Old Smuggler, 20s per case. J.D.K.Z. Gi ■1 nova, 2 gallons 9s, 3 gallons 12s 6d, 4 gallot j 15s; "Key" Geneva, 2 gallons, 8s 6d p< case, 3 gallons lis 6d, and 4 gallons 13s 6d i- Burnett's, Old Tom, 12 bottles 13s 6d. " I, bottles 14s: Wolfe's Schnapps. 21s 6d to 22s d Gilbey's Schnapps, las to 15s 6d; Lemc IS Hart's rum, 3s 9d to 4s per' gallon; Lamb Imperial rum, 3s 3d to 3s 6d per gallon s Lamb's Golden Grove rum, 5s to 5s 6d pi gallon.

SURAH. (Duty: jtl per lb.) 'There lias been a fair amount of business done in sugars, both for consumption and preserving purpose?. The bullc of the business passing is in the output of the Colonial Sugar Company. The other descriptions available are Queensland " Millaquin brand and n. small supply of China, but the company do the bulk of the trade at present. _ Prices of finest whites range from £1.7 10s in bond upwards for fair sized parcels, while ordinary retail lots are disposed of at £22 15s to £2-3 per ton, duty paid. TEA. (Duty: 2d per lb.) Teas continue in Rood inquiry. The demand runs principally upon blended teas in bulk and. packets, and there is considerable competition amongst the various blenders for any trade passing. Menders have regular grades of quality which are disposed of to retailers at fixed rates, and by the latter to the public at fixed prices also, the margin of profit varying according to the quality of the tea. GTUIX, SEED, AND PRODUCE REPORT. Messrs William E. Reynolds and Co., Bond 1 street-, report for the month ending January 31 as follows: — We are not having summer weather at all this year, the past two months having been very broken, and the last 10 days the worst we have ever known during the month of January. It has been more like midwinter, and at time of writing show'ns no signs of clearin». It is too early yet to affect the Otago crops to any extent, but ill Canterbury large areas, especially of oats, are cut, and the damage done is likely to he great, and much depends on how soon the weather clears. Wheat.—This market continues dull, and very few shipments aTt> being made. Locally millers are pursuing a hand-to-mouth policy pending the arrival of the new crop, which is now in early districts just coming ripe for cutting. The harvest prospects for this cereal, provided the weather improves, are good. We quote to-day's values at—for long-berried, 2s Gd to 2s 7d; short berried, 2s sd; whole fowl feed, 2s 2d per bushel of GOlb (f.0.b., sacks in, net cash). Oats.—This grain lias continued in steady demand, and consequently pricc3 keep well up despite the now crop being so near at hand in Canterbury. Imperial orders for South Africa have been the chief cause, at the same time Australia has continued to draw steadily, and is still drawing, which, together with the recent wet weather delaying the arrival of the new crop, has prevented any easing. The prospects of our harvest are entirely in the hands of the weather for the next two months. W< quote: A grade, Is 9d; B grade, Is BJd; C grade, Is 7id to Is 8d per bushel of 401b (f.0.b.. sacks in, net cash). . Barley—There is no change to chronicle, tin market remaining as stagnant as is possible Wo repeat quotations-viz.: Prime malting, 2: 10(1 to 3s; good, sound quality, 2s 3d to 2s Gd; milling, Is 6d; feed, Is -Id per bushel of 5011 (f.0.b., sacks in, net cash). Grass Seed.—This is likely to suffer most, ai harvest is pretty general both in Otago ant Canterbury, and we cannot see how farmer! arc to save this crop without very senou: damage. Another week or two will tell. Stock: of last season's seed are heavy, mostly however of medium quality. We give to-day's value: at—3olb seed, 3s; 281b, 2s Oti; 2711), 2s Sd; 2Glb 2s 4d; 241b, 2s 2d per bushel of 20lb (f.o.b. sacks'extra, net cash), Cocksfoot: The dull ness of the market at Home has somewhat stag gcrod shippers, and it is impossible at presen to say at what price the new crop will open For old crop we quote: Bright 18lb seed, 3UI lGlb seed, 3d to 3Jd per lb (f.0.b., sacks extra net cash). Clovers—Stocks are well cleared out, an< what is left is firmly held. We quote whit clover at 76s to 90s; alsyke, which is_ ver; scarce, 75s to Ms; cowgmss, 55s to 75s fo colonial grown; timothy, 25s and up to 35 for colonial grown.

Chaff. —There is too much of ordinary quality offering on the market, and prices are low. Prime quality is scarce, and there is no chance ot exporting as other markets are lower. Potatoes.—lt is too early for the Derwents, and as far as kidneys are concerned the market is very bare of stocks, especially at time of writing. Quotation, however, would only mislead, as any day the market may recede considerably. Butter—Since our last there is no change to note. Most of the factories arc consigning this year on their own account in hopes of directly deriving the benofi* of the good prices likely to rule at Home. Very large shipments have been made direct to London market, and the output this year, we think, will he above the average. We quote: • Prime factory, 9sd to 9ld (f.0.b., cases in). Cliee3e. —The bulk of intending sellers have already fixed their output for the season, and this keeps the market steady. At the same time the Australian demand lias slackened off considerably the last few weeks, which will probably result in more being sent to London than would otherwise have bsen the case, but not to any great extent. We quote large size, for London shipment, sd; medium and loaf size for Australian demand, 55d to si'd (i.o.b. respectively). Bran.—Stocks are very light indeed, and we can only quote, nominally, £3 per ton (f.0.b.). Pollard-Much tho same remarks apply, and we quote £3 10s. ' . Oatmeal.—A good demand is being experienced, but with the new crop of oats so near at hand no advance lias taken place. Wo quote: Bulk, £3; fs, £10 10s; 25's (short ton), £9 per ton (f.0.b.). Flour.—No change to report, and quote as last: 200's, £G; 100's, £6 15s; 50's, £7 (f.0.b.). PROPERTY SALES. There was a good attendance at Messrs Park Reynolds, and Co's rooms on Monday, when the following city and suburban properties were submitted: —Part of sections 33 and 34, block XXXII, Dunedin, at corner of George street and Regent road, with two houses thcron, was sold to Mr Baron for £1280. Section 35, block XI, DUncan street, Dunedin, with eight-roomed house thereon, found a purchaser at £850. The remainder of the properties offered wero passed in. )' The Farmers' Agency Company report having sold on account of Mr Andrew Kearney his farm in the Gimmerburn district, consisting of 133 acres, and being scction 19, block IV, at a satisfactory price, to Mr John Dougherty, of Gimmerburri. There was a large attendance at Messrs Park, Reynolds, and Co.'s rooms on January 12, when various propcrties/.vere submitted for sale. Allotment 5 and part of allotments 3 and i, block 111, Logic street, St. Kilda, with four-roomed house, was knocked down at £217 10s to Mr It. M'Mecking. Section 2, block XXII, Castle street, Dunedin, with houses and cottages erected thereon, was purchased by Mr S. Solomon for £1850. The Sawyers' Bay farm was passed in, the bidding not reaching the vendor's value. NAPIEE WOOL SALES. NAPIER, January 23. The wool sales to-day were most unsatisfactory to sellers. Even in bright, light-con-ditioned clips prices wero hardly' maintained, and in coarse wools there was a drop of from $d to Jd in the prices ruling at recent southern sales. WELLINGTON WOOL SALES. ■WELLINGTON, January 25. At the local wool sales, held to-day, 283G bales were offered, but the greater portion was withdrawn. Prices wer= disappointing, showing a decline of Id to ?d on crossbred fleece wool and }d to .Jd on pieces. The prices ruling were, as follows:—Fine crossbred, s|d to 6Jd per lb; clcan medium, 5d to sJcl; coarse, 4kl to 4Jd; leg-stained and inferior, 3Jd to 4d; pieces and bellies, 2Jd to 3Jd; locks, Hd to ' Old. j An Auckland telegram says:—"The direc- ; tors of the Auckland Gas Company report a f further increase in the consumption °f J?as equal to 6 por cent, profit for the year. The credit balance amounts to £27,972 Os 6d, which 3 leaves, after providinc for a dividend at the r usual rate, a sum of £7623145. _ The directors ' recommend the pavment of a dividendjor tha r past half-year of 7s 6d per share on paid-up shares, and a proportionate amount on partly ' paid-up shares."