COMMERCIAL.

Otago Daily Times, Issue 12767, 14 September 1903, Page 4

COMMERCIAL.

Daily Times Oflicc, Saturday evening. • The amount ot revenue collected at the Dunedin Custom House todav on goods cleared for consumption was £237 13c 7d. The following were (he grain and produce shipmonte from Lyttelton for the week emled Friday:—For tho United Kingdom, 1777 saoks oats; for Australasia, 485 sacks barley, 183 do potatoes; coastwise, 2997 sacks wheat, 2064 do oats, 11 do barley, 144 do bran, 2014 sacks and 3529 bags flour, 5133 sacks potatoes, 553 do sharps. Total shipments for the week;—2S97 sacks wheat, 3841 do oats, 496 do barloy, 144 do bran, 2015 sacks and 3529 bags Hour, 5316 sacks potatoes, 558 do sharps.—Christcliurch Press.

What the importation of breadstuff? and maize lias cost the Commonwealth may be gathered from the following: Tho quantity of wheat and flour actually arrived and to -arrive is equal to no lets than 344,000 tons of wheat, costing about £2,500,000 alongside tho wlisrf. Adding to this tho large importation of maize, and the drought will have cost Australia nearly £3,000,000 ill food product#. Besides this Australia has lost the .exportation of at leant . the same amount of grain, to say nothing of the difference in the last butier season. BREADSTUFFS, It is rumoured that the future of the New Zealand Flour Millers' Association largely depends upon the decision arrived at by tho Millers' Conference, to be held in Timarii next Wednesday. In the evont of that conference proving abortive, it is not improbable that the association will go into liquidation at an early date. It is understood that tho conference will discuss the advisability of calling upon all the present directors to resign, with a view of remodelling Hie association upon entirely new lines, calculated to carry the approval of the milling trade, the public, and Parliament alike. Latest Sydney advices state that Japan as well as Hongkong is inquiring for soft wheat flour, so far without result. Barrelto and Co., of Hongkong, in their circular of August 1, state:—"T'lio stock of flour is heavy, but the market is very firm in .sympathy with the high opening rate for new crop wheat in America. A rise of 15 per cent, is noted all round." ' Messrs .lorgo and Co., .rriting under tho same date, state:—"The market has improved all round during the monlh of July, and clear, ances have been fairly good." Messrs John. Darling and Son, writing from Adelaide under date August 31, state; "Wheat: Further parcels of South Australian wheat are being reintroduced into Port Adolaido from Melbourne and Sydney by interstate steamers. This is meeting all the wants of the mills at present working, and in ccnsequcnce a general decline in prices is steadily taking place. Value of shipping parcclts may be given as about 5s _3d to 5s 3Jd per bushel. At tho latter price some few purcels are reported to have been placed during Iho week, but generally there is no deposition to operate, and 5s per bushel is looked for as lieing the market value within a very short time. Orpheus, with about 2000 tons of her cargo of wheat from Buenos Avrcs, has sailed for Melbourne. Further arrivals in Sydney of wheat from Buenos Ayres have increased the holdings, and added to the general dulncsa of the trade in that market. Melbourne market is exceedingly well supplied, and what with (he cargo of the Orpheus and three or foui other cargoes to arrivo this market promises to be exceedingly well stocked, aud no further requirements from abroad aro necessary to keep homo consumption supplied until the new crop comes to hand. There are evidences of prices gradually giving way in all the markets." IMPORT MARKET. The only movement of moment in tho import market is in Japan rice. Cable advice lias been received indicating low opening prices for the new season's rice, October shipment, landing here towards the end of November, probably about £15 to £15 10s per toD. In sympathy with (his, advice the spot price lias weakened, although stocks held are not largo, and £16 life is the now current quotation, I'atna rice is practically out of the market, and £18 per ton is the nominal quotation. English split peas are vory scarco, and are worth 20s per cwt. With tho advent of the fino weather, a brisk demand has sprung up for tinned fruits of all Icjndo, jnjly powders, and lines of similar description. Cornflour is again in short supply. There is none in the Ben Avon, but tho Firth of Clyde brings shipments of both Brown's and Wotherspoons. Meanwhile the small clocks available are firmly held foi 3Jd. The riep in canary eecd reported last week is explained by the fact that a large portion of the canary seed of commerce is produced in the troubled distriot of Macedonia, and a well-informed authority states that business in that country is practically suspended owing to the present outrage^. Thora is nothing new to report in tho dried fruits market. Tho low prices quoted for new sultanas led to some shading of quotations for old fruit, aud a fair quantity was taken at the reduction. Prices have again-firmed, owing to tho impression that stocks aro barely sufficient for requirements uijtii the friijt &mycjs,

Frivate adricos from America regarding the salmon outlook state: —"The salmon situation for Ilia year 1903 is a very discouraging one from all reports up to tho present time, which is now within 20 to 30 days of tho end of the canning season. The pack of Ghinooks on tho Columbia River of this grade of fish :s estimated at not to exceed 80,000 casts; a very small showing, which in connection with Hie certainty of cockeye opening high Columbia River is sure to advance. Tho pack of wckcyes on the l'uget Hound was estimated at the beginning of the season at about 1,000,001) cases, but the run so far lias been so small that under tho most favourablo circumstances now it cannot reach half that quantity, and we fear it will not exceed the pack of last year. Unless change comes in very few days, the low-priced short sellers will deliver pro rata. Remember that tho carry-over of sockeyc last year was 1,000,000 eases, wliich haa been marketed at 1.25d0l per dozen (f.0.1). coast). On the basis of these facts wo predict a price of 1.35d0l per dozen or higher." There is no alteration in kerosene. The .8000 cases of American oil, ex J. T. Chapmun, transhipped into tho Upolu, wero all taken from the wharf at 9jjd per gallon. Tho ex store price of both American and Borneo oil remains unchanged at 9Jd per gallon. Whatever may bo thought of the ■Standard Oil Company as a monopoly, lis enterprise certainly excites admiration. On the Pacific Coast it has acquired newlydiscovered oil wolls, and bus laid down a pipe lino for a distance of 283 miles, through which 20,000 barrels per day can be pumped. The company is now planning a pipe line for the development of the oil fields of the Southern States, to traverse Kansas, Missouri, tho Indian Territory, Louisiana, and Texas. Tho line will be t.lio longest in tho world. The increased output will mean a continuance of moderate prices for kerosene.

Messrs \V. IT. and H. Lc May report from Loudon on July 27 regarding the hop market:—''Consumers are now anxiously watching the market. The weather is veiy mucii against, the development of the crop. Hot dry weather is yvantcd badly, and only a high temperature from now to picking can make any more hops than were grown last year." There is no alteration in the Calcutta market, but tho tendency seems to bo towards weakness.

Business in the iron anil hardware market continues fair, and there are 110 alterationi' in values. Cement keeps very scarce, but' the Wakanui, line 011 the 10th inst., brings fresh supplies. Tin plates have risen in England, hut the local market has not responded to the rise. The facts tlmt led up to tho industrial dispute in Wales, which has been responsible for the late rise, ara thus described by tlm British Trade Review of August 1:—-"Up to the timo of writing very little progress has been made by the sheet and tinplatc makers towards a settlement of the now- wage agreement, and the old list is still running 011. The fooling amongst tho makers is that the condition of trade at present- is such that any concessions which would add to the cost of production, aro quito out of the question, On the most important question—that on payment on area, pure and simple—both sides aro at a complete deadlock. The men sock to maintain the exeoptional rates paid for "Canadns" and doubles since 1874, but as payment by aroa was tho principlo onco claimed by tlioir leaders, it is not surprising that tho masters are hostile. A strike 011 this question was only averted last year by tlio employers agreeing that 110 rollerman (should bo asked to work 011 area moro than 40 boxes of doubles per year, but they have never declared their determination to remove the anomalies at present existing in the mode of payment of these two orders. Whatever wage list may bo ultimately agreed upon, it is Understood that it shall bo enforced at all the non-associated works, so that no employer shall liavo any advantage over another." SOUTHLAND GRAIN AND STOCK MARKETS. (Fboh Oub Oyrn Corkespokdb.nt.) INYERCARG ILL, September 13. The grain market is very flat, and transactions are exceedingly limited. The prices being paid locally for oats are Is 4d for B grade and Is 3d for C grade. Inferior lines are unsaleable. The reduction recently made in freights to South Africa has not had tho oficct of inducing much business. I understand that only one sale lies been mr.de to that quarter during the past fortnight, and that at ft very low price.

Stock show a tendency to ease, and I shall not bo surprised to see a steady falling-off within tho next month or two. as, owing to the splendid weather wo have had, there is abundanco ot feed; and tile statu of the London market does not warrant tho prices that were lately ruling, and as tho fat sheep cannot bo absorbed by tho local market it is difficult to sec hoiv the very high prices ktelv ruling can' be maintained. Prices at tho Otantau sa)o during tho week were certainly a bit easier. There has been a. good demand for draught horses here, and prices during the last month have gone up quite £5 ,1 head for good working class. This high market has lmd tho effect of inducing considerable shipments from Australia, quite 200 working draughts having been imported during the past two months.

CLEARING SAIiE. The Otago Farmers' Co-operative Association ot New Zealand (Limited) report having hold n clearing Bale at AVailati on Friday last ou behalf of Mr William Brunton, who is leaving tho district. The farm was first submitted, but bidding not realising the reservo it was passed, and is now for saio privately. Tho stock, etc., were then offered, and under /air competition everything was sold at satisfactory prices— viz.: Cows and heifers at £2 Is Gd lo £G 7s Gd, yearling and two-year-o'.d do at £1 10s to £3, springing do to J?-t 13s, yoaxling steers and lieiiws to £2, pigs at £2 3s to £3 7s, horses (aged) to £14 10s, sundries at usual rates.

DUNEDIN HORSE SALE-YARDS. Messrs Wright, Stephenson, and Co. report as follows: —There was a fair number of horses forward lor our weekly sale last Saturday, notwithstanding the spocial sale of the day before. Some very fine draught geldings were offered, and most of them chcugcd hands at splendid prices, including one fivc-ycar-ckl horso ?.t £70 and ono soven-ycar-old at £G3 (these were two exceptionally heavy horses, fit for show purposes). A number of medium and aged draughts were also sold at from £39 10s to £JG 10s. Some good light horses wero in tho yard, and thosenho sold well—one buggy horse, six yearn old, finding a new owner at 130 10s, and another very nice dog-cart horso, by Cock of the Walk, at £30. Tho demand for first-class young draughts and for strong young harness horses is as keen as ever, and prices in both classes are all in favour of sellers. We quotaSuperior young draught geldings, £55 to £05; extra good, prize horses, fCG to £80; medium draught mares and geldings, £10 lo £54; aged do, £25 U £38; upstanding carriage horses, £30 to £-15; well-matched carriage pairs, £70 to £90; strong spring-van horses, £10 to £37; milk-cart and butchers' order-cart horses to £29; tram horses, £18 lo £28; light hacks" £10 to £13; extra good hacks, £18 lo £25weeny and aged hacks and harness horses £i to £8. '

PROPERTY SALE.

Messrs AVright, Stephenson, ami Co. report having sold, in the Borough of Balclutha sections 12,17, 18, 19, and. 20, block I, together with dwelling-house, stable, bugiry-slied, and other outhouses thereon, to Mr Wm. Stewart at a satisfactory prjcc. '

INVESTMENT STOCKS.

Tho Dunedin Stock Exchange reports tho following quotations ou Saturday: — National Insurance—Sellers £1 Is Cd. Standard Insurance—Sellers 18s 03. National Mortgage— Buyers £2 3s. Mosgiel Woollen—Buyers £4 3s. New Zealand Portland Cement—Buyers 18s 7Jd, sellers 19s 4£d.