COMMERCIAL SUMMARY.

Otago Daily Times, Issue 13545, 19 March 1906, Page 1 (Supplement)

COMMERCIAL SUMMARY.

Daily Times Office, Saturday. March 17. UO.N'Er AND THAI)):. Buying.—Demand 5s per cent, discount; 30 days, lOs'per cent discount; 60 days, 15s per cent, discount. Selling.-Demand, 10s per cent, premium; 30 days, 5s per cent, premium; 60 days, par. Telegraphic Transfers to London.—l 7« 6d per cent, premium, plus cable charges. Deposits.—Fixed for six months, 2 per cent, per annum; 12 months, 3 per cent, per annum; 24 months, Zi, per cent, per annum. ,

There is no change in the local money market, and thero is abundance of floating capital available for investment in first-class securities, Recent Australian advices siate.' that investors there continue to experience difficulty in suitably placing their surplus funds, and 1 that' another bountiful season throughout the Commonwealth would make their position one of considerable anxiety, It is expected that the value of interest-earning property will appreciate through tho scarcity of "other investments, while any easing of the London tnoney market would force tho position somewhat by making it less profitable for the Australian banks to invest their otherwise unused funds there. It is difficult to estimate to what extent the Australian movement is likely to affect New Zealand's finances, but one immediate effect is seen in the readiness with which Australian financial institutions are willing to absorb New Zealand Government loans, short-dated debentures, and such-like gilt' edged securities.

Trade remains steady, but quiet; already the shadow of the threatened tariff revision is beginning to cast its shadowi over commercial operations. There is considerable speculation as to which of the duty-paid lines are likely to be touched, and amongst, the suggested possibilities aro di'ied and canned fruits, dried, preserved, and canned fish, and sugar; whilst the reduction of tho duty on tobacco from 3s 6d to 2s 6d per lb is looked upon as almost a certainty. BRWnSICFFS.

In the local -wheat market a fair amount of now wheat' is' offering, the average quality of tho samples shown being very good; tho grain for the most part being bright, clean, and hard. Sample trucks of some of tho first purchases of the season are, however, in some cases not turning out too well. It has evidently been threshed from the stook in wet weather, with the result that tho grain is as soft as butter. Of course rejection by tho buyer has ensued. .Millers are not eager buyers at present rates, and are endeavouring to beat back the market. Holders are asking 2.3 lOd to 2s 10£ don trucks northern stations for red wheat, and 2s lid to 3s on trucks for velvet and Tuscan; but millers are hoping to bo able to replenish their stocks at at least Id below these prices. A few thousand sacks have changed hands during tho wfeek at quotations, hut the season can scarcely bo said to have properly opened. It is said that many growers are putting their wheat into stack, with' the idea of. deferring threshing until the spring; and if this becomes general it will havo tho double adyantago of steadying the market and of.improving the condition of the grain. Local supplies of chick wheat are in small compass, and 3s 2d (ex' store) is readily obtained for the little lots offering. Sliippers are filling their orders at Timaru, where good whole fowl wheat is offering at 3s (f.0.b., 'Sacks in). There is no change in flour. The Now Zealand Flour Millers' Association's tariff stands as follows:—Sacks, £9 per ton; 100's, £9 10s; 50's, £9 15s; 25's, £10. The shipping price is £8 10s per ton (f.0.b.). There is a better fooling in tho offal market, both for bran and pollard. Bran is inquired for for export at up to 57s Gd per lon (f.0.b.), and sales of n decent line arc reported at that figure. Bollard is in good demand for local orders. The tariff is unaltered at £5 per ton for pollard, both for local orders and for shipment. Bran is quoted at £3 10s per ton for local orders and £3.per ton for shipment. There are no new oats offering locally, but a few samples.have been received from the north. These are.offering at from Is 7d to Is od (on (rucks) according to distance and variety. Merchants, however, are bus} with grass-seed orders, and oats are for the moment neglected. For the few old oats offering, from Is lOd to Is lid is asked for good B grade.

Oiitmonl is dull of sale at £10 par ton, and pearl barley is quoted at £12 10s. PRODDCE MATIKKT. Tho bareness of the market at the begin, ning of the week induced a further advance in potatoes, and prime Oamamt kidneys were selling at up' to £9 10s per ton. The arrival of more ample supplies has, however, modified prices, and £9 is now the top price obtainable, with sellers at. £8 15b. Indications are. for a further easing of the market in view of the supplies coming forward." A few Derwents are also offering, but being unripe • are not regarded with favour; tliey are-quoted at £8 10s to £8 15s per ton. " There is no alteration in the butter market. Farmers' pats, 7d to 7id; farmers' soparatnr, 9d. First-grade factory, 10|d in bulk, prints llsd for spot cash and HJd for booked. Milled butter: First grade, 9|d; second grade. Bjd; and third grade, 7d. The cheese market is quiet, and local cheese is worth from sjd to 5Jd. Eggs have firmed up to Is 4d, with good inquiry.

Current quolations for poultry are as follow -.—110)5, Is 6d to 2s 6d; roostersold 2s to 2s 6d, young 4s to to 6d; ducks, 3s to 3s 6d; ducklings. 2s 6d to 4s; geese, 4s to ss; turkeys, scarce—hens, 5d to 6d per lb, gobblers 7d to Bd. Pigs are in good demand, baeoners selling at 3Jd overweights, and underweights at 3d. Hame are quoted at 7d to 7£d, and bacon at 63d to 7d. The market continues plentifully supplied with chaff.. £3 IDs to £3 15s is the top' price for prime oaten sheaf; medium to good, £2 10s to £3.

ALE AND STOUT. (Duty; 2s per gallon, or 4s per dozen.) An average business is passing in ale and stout. All leading lines are in good supply, and values are unchanged. Following is the agents' list of prices, the quotations being for ordinary lots per dozen quarts, all duty paid:—Ale; Read's Dog's Head, 13s to 13s 6d: Porter's Bull Dog, 12s 6d; Poster's. 12s; Tennant's. 12s. Stout: Bead's Dog's Head, 15s to 13s 6d: Porter's Bull Dog, 12s to 12s 6d; Burke's, 12s 6d to 12s 9d; Johnson's, lis 6d to 12s; Hall's Boar's Head, 12s; Poster's, lis 9d; Tennant's, lis 6d to 12s; Tennant's lager beer, 7s 6d for pints and lis 6d for quarts.

BAGGIJfQ. (Woolpacla aim corusacks: Free.) Cablo advice has been received quoting cornsacks (44's) for July shipment at 6s 3£d c.i.f. and c., and woolpacks Hi at 2s 7d. At these prices it is probable that business may ensue.

CANDLES. (Duty: Manufactured in British dominions, Id pßr lb; foreign candles, lJjd per lb.) Burmese decorated chamber candles are quoted at in 10-hox lots, 7Jd for five boxes, and 8d for lesser quantities. The current quotation for Burmese candles i3_/sjjd for 16oz 6's, plain and fluted; and 6?d for self-fitting and carriage, this tariff being subject to the usual discount. The local manufacturers' tariff stand's as follows :.—Gold Medal and Exhibition, 6d; Mining and Standard, 6Jd'; Composites (plain and fluted) and Magnet, sid; Ducal Paraffin and Superior Wax Paredßn, sid; Brilliants, 5Jd; Adamants, sd; Priz* Medal, Electrics, and dockets, 4Jd. Tiese rates are subject to a sliding seal* of discount, according to quantity purchased. Opton's Aberdeen candles are selling at 6a to 6W. Price s brand's are selling at th« following- rates:—For London Sperms, 6jr<l to-6Jd (duty paid), and London Wax and Paraffinsfat 6d to 61d.

CEMENT. (Duly: Manufactured in British dominions, 2s per barrel; foreign ce»»at, 4s per barrel.) "

No alterati6h hiis taken place in the cement market, and quotations remain as follow:—Under '20-cask ' lots, Us 6d (former price 15s); 20 to 99-cask lots, 13s 9d (former price 14s 6d); 100-cask lots and oTer, 13s (former price 14s).

DRIED VRDITS. (Duty: Currants and raisins, Id per lb; figs, nuts, shell almonds, *vapor*ted apples, prunes, and dates, 2d per lb; Jordan almonds, 3d per lb; Sicily almonds, free.)

As is usual-at this-time of year, there is very . little movement in the 'dried fruit market. Sicily almonds shoV an advance of about per lb. A new brand of drycleaned currants—the " Stand-out,"—done r.p in full-weight pound packets, is now on the market. The fruit is of first quality, and' the dry-cleaning process, to which it has been subjected in Greece, is a considerable improvement on previous methods. The first consignment has been cleared at 4s 6d. Seeded raisins are costing id per lb more money, and the price has been raised to 6s per dozen cartons for fancy quality. _ Current quotations for leading dried fruit lines are as follow: — Currants, 3Jd to 3|d in half-coses, and 4s 6d in cartons; sultanas, 4d in 281b boxes, and 4s 9d in cartons; seeded raisins, 5s 9d to 6s; Hemes, 4id; dates—in bulk 4Jd, in ljlb cartons 8s 9d; figs, small boxes, 5s 6d to 63, according to size; Valencia raisins, 4Jd to 4Jdj Malaga muscatels

(finest), in trays, Is Id 46 Is 2d: Jordan almonds. 2s: old. Sicily almonds, 9id; Califomian muscatels, lOd in 51b bags and in 101b trays.

Evaporated apples and apricots are quoted as follow:—Apples, bulk 73d to 8d for 50's. lib cartons fts 3d to 9s 6d. Apricots, bulk 81(1 to BJd, lib cartons 9a 3d to 9s 6d. Prunes in bulk arc still quoted at 6d. and 6s 9d in cartons.

California)! canned fruit is quoted as follows: —

Peaches. Pears. Anricots. Assld. Water .. .. 8/.V 8/9 7/ . 8/3 2nd Standards 8/9 10/ 7/9 9/ Standards .. 9/6 11/6 8/6 10/. Singapore pineapples are quoted at 6s to 6s 6d for 21b tins, and 5s 6d to 5s 9<l for ljlb.

Teviot canned pears are out of the market. Other .Teviot fruits are quoted as follow.—Extra standards—Peaches, 9s 6d; apricots, 9s. Standards—peaches, 9s; apricots, 8s 6d. Pie Fruit—Apricots, peaches, and plums—6lb tins 17s, 41b tins 14s.

lasmaman jack apples aro quoted at 8d to BJd in bulk, and fid-to 9d in packets. HSU. (Duty: Dried, pickled, or salted, 10s per owt; paste, 20 per oent: ad valorem; potted and preserved—British, 2d per lb; foreign, 3d per lb.) There is a good demand for fish at present owing to the approach of Lent. A considerable parcel of Hav's ling, now landing by the. Pakcha, has been placed ex wharf. All other fish, including salmon, herrings, etc.. aro in good demand, and this will probably continuo over the Jtoslflr.scason. Private advico by mail and cable emphasise the strength of the market m Europe for sardines. The catch, both m Spain and Portugal, has l>cen very short-almcst a failurd.-and Spanish packers have almost cleared their stocks in supplying the active demand from South America. The chief causo of the slackness of demand in Portugal and London is the absence of orders from South Africa, The slackness ou the last-named markets lias lasted a considerable time, and, in view of the advices above referred to, a revival in prices may shortly bo looked for which will tax the not very largo stocks on hand. Advice has been received that herrings aro likely to be in short supply. Somo of the packers are reported to "bo completely, sold out, and are, consequently, unable to execute orders. The shortage will probably result in a slight increase in price for stocks on hand. Current nuotations are as follow:-Salmon—Boot Skeena P,ivcr flats 10s. talk 9s 3d., and half-Huts 6s; Oohops. Bs. Corlfish—Bjd in 21b blocks and s£d in strips. New season's herrings—Kinpe.r»d and in tomato. 7s to 7s 6(1; fresh, 6s per dozen. Sardines --Albert quarters. 7s 3d to 7s 6d; Albert halves, 10s 3d to 10s 6d; good quality and 6s 6d. and quarters 3s 6d to 4s; smoked sardines. 9s for halves and 5s for quartors; white herrings, 21s for 2-100's and 30s to 32s for two-dozens; red herrings, 20s for 2-100's, 17s for one-dozens. Tindon haddocks and bloaters are quoted at 9s 6d and 8s 6d respectively.

IIET.US. {Duly. Galvanised iron. £?. per Ion; fencing wire and barbed wire. free; iron—plain, Wack sheet, rod, bolt, bar, and plate, not produced in British dominions, 20 per omt. ad valorem.) The iron market continues to show firmness. Cable advice has been received of an advance, of 5s per ton on American black galvanised wire. Roofing iron lias advanced 10s per ton, and is quoted at £21 10s. Current quotations arc as follow; — Bar iron £11 for 10-ton lots np to £12 for smaller quantities. Shoeing bars; 8.8. H. £14 10s, Net bartons £13 10s. and ordinary brands fill 10s. Ingot. tin-Colonial, Is B^tl; 1-amb and Flag, Is 10Jd. Sheet lead, £25 10s per ton. Pis lead, 21s 6d. Galvanised wire netting. £25 10s for 36in x 1J x 17 gauge; three-mile lots, £25. Fencing wire-plain, £9 5s for five-ton lots" £9 15s for under one ton. G.C. iron, £21 10s, with usual concessions for 10-ton lots. Sleel plates £13 10s, steel angles £13. Galvanised wire, £10 15s to £11 10s, 6 to 3 gauge; galvanised iron, plain, 24s to 25s 6s—with the usual concession of Is per cwt less for Mewl lots. Pig iron, £5 5s per ton. Tinplates, in short supply, firm. 17s 6d. Iron hoops, £14; tee bars, £13 10s,

(Duty: Kerosene, free; ether ails, fid per gallon.)

The Colonial Oil Company has slightly reviwd ils quotations, which now stand as follow:—White Rose kerosene, lOJd; Tea Rose, ojd; benzine', 10(1; gasoline, Is 8d; naphtha Is 2d, and motor spirit Is 2d; turpentine, 4s 6d. These quotations are for wholesale distributing lots; terms for White Rose and Tea Rose, net spot cash, with the usual lebate; for other lines, net cash in H days and without rebate. All the above quotations are ex warehouse. Turpentine to arrive ex Perthshire is quoted at 4s 4Jkl ex wharf. The next boat with kerosene for this market is the BriezHuel, but hor cargo will not be available until towards the end of June. Linseed oil is quoted at 3s 2d to 3s 3d for raw, and 3s 3d_ to 3s 4d for boiled, for small distributing lots, duty paid. Castor oil is quoted at 3s 9d in half-cases and 3s lOd in drums.

OILMEN S STORES, ETC. Cable advice .lias been received of an advance of £2 per (on in the price- of borax and boraoio acid. The market is very firm, and only orders for immediate delivery are accepted. Brunucr Monde carbonate of soda, is quoted at lis 3d to Us 6d. Court boot polish is quoted at 3s 6d for small and 6s 6d for large. The price of Force Food has been reduced from 25s to 22s 4d. Haricot beans are quoted at 225, split lentils 225, and English peas 19s. Packet hops, Is 6d. New Bsason's hemp seed 24c, new canary seed 28s. Record boot polish, 3s 6d for small and 6s 3d for large; Sadler's mustard, 4s 9d for quarters, 8s 3d for halves, and 16s 6il for lib tins. Paterson's camp oofi'en. 12s. The following tariff has been fixed for Brown and Poison's and Brown's cornflours: — Brown and Poison's and Brown's maize, 15 boxes, 2Jd; 5 boxes, 2Jd; 1 to 5 boxes, 3d; Brown and Co.'s Patent, 3d; Brown and Poison's Indian, 5Jd. Harvest Queen com flour is selling at 2jd to 3d. The market, is well supplied with all other leading lines, and quotations are us follow:—Tartaric, acidpowdered. Is sd: crystals, Is sd; Mjlkmaid milk, 6s 6d; Oilman's starch, 5Jd to sid; Neave's food, 10s to 10s 3d; Keiller's mar-malade-lib 7s fxl, 21b 13s 9d; Robertson's Golden Shred marmalade—lib 7s M, 21b 13s 6tl; Crosse and Blaokwell's marmalade—lib jars 8s 3d, 21b jars Us 6d, lib tins 6s 9d; Lucca oil—C. and 8., 265; Morton's, 245; Day and Martin's blacking, 3s 3d to 3s 6d; Morton's capers, 5s hi ; curry, 5s 6d; salad oil, 5s 6d and 8s 6d; and castor oil, 4s and 6s 6d. Everett's boot paste, 6s 6d lo 6s 9d for large, and 3s 6d to 3s 9d for small; large size Abbey boot polish, 5s 9d to 6s 3d per dozon; cream of tartar (French, in kegs), lid; Morton's cream of tartar in tin-lined cases, Is OJd; bathbricks, la 9d to 2s; bicarbonate of soda, £11 per ton; Quaker oats, 22s 6d; vermicelli and macaroni—Rinoldi's—in lib cartons, 4d per lb; cloves, Is 6d; ,whiting, 5s 3d. The tariff for Fry's cocoa is as follows:— Homcepathic, for 10 boxes, Is 3Jd, and for lesser quantities Is 4d; concentrated, 3s 2d, and soluble Is 4d. The tariff for Symington's coffee essence is as follows: — Five-case lota 12s 3d, one-case lots 12s 6d. Woods' peppermint cure, 13s 6d per dozen for small and 22s 6d for large. French beans in tins—lib ss, 21b 8s 9d. Mcllor's sauce—s cases 123, 1 case 12s 3d, lesser quantities 12s 6d.

F.IOS. (Duty: Free.) The rice market remains firm, and cable advice notifies a further rise in the Japan product, which is now quoted at £16 15s to £17 'ss. New season's Patna rice is quoted at £16.

SACfI ASI) TAPIOCA. (Duty: Free.) After a record rise, sago and tapioca at length show signs of easing; but as stocks arc small no appreciable fall is likely to tike place for a While. The current quotation is now 22s for gago and pearl tapioca and 24s for flake.

SALT. (Duty: Free.) A shipment of rock, coarse, and fine salt is expected by the Pharos h about a fortnight's time. Quotations are unaltered, "e append the selling tariff arranged as between the wholesale and retail houses forOtago and Southland. Black Horse Salt. Fine. Coarse, 5-ton lots, per ton .. 82/ ~ 72; 1-ton lots, per ton .... 85/ „ 75/ Lesser quantities, per cwt.. 4/6 .. 4/ Liverpool Liverpool Coarse Fine and and Pig Coarse. Castle Fim. Per Ton. Per Ton. 16-Uro lots .. ». 60/ .. •,., ,; 70/ 5-ton lots ~ ~ 62/ ~ ~ „ 72/ 1-ton lots .. .. 65/ ~ „ 75/ Per Cut Per Cut, Ltsser quantities 3/9 .. ~ -, 4/3 Parcels may be made up of mixed led. Thes» priees may . be reduced by 2i per tori when salt is delivered ■ direct from the wharf, and they include cartage te any point within Dunedin or Buburbs. The Salt Company has undertaken not to supply »ny wholesale firm whieh dees net abide by a tariff agreed upon by the majority. It is also understood that the imports of Liver£»yl s«lt wUI b* kejt .within a cabin linfy

so that proporfciwiaU quantities of Liverpool and Adelaide may, bo gold ,it> tlis colony.

.. SUGAR. /■ (Duty, id per lb.) The Colonial Sugar Company's tariff stands unaltered as follows:—Finest whit* (No. 1 and la), £16 12s 6d per ton in bond for, five-ton parcels, £16 15s per ton in bond for three-ton parcels, and £22 per ton duty paid for smaller quantities. No, 2 is quotod at 10s per ton tower than the above prices—viz., £21 10s por ton duty paid; and brewers' crystals 10s per ton higher—viz., £22 10s per ton duty paid.

SOAP. (Ditty: Yellow soap, 5s par owt; fancy soaps, 25 per cent., ad ralareai.) There has been ne alteration in the price of coup, and the local manufacturers' tariff stands as follows:—Household, £13 per ton; Three Crews, £H per ton; Prize Medal, £20 per ton; Laundrine, £22 per ton. Theso rates are subject to a ilidiag scale of discount, according te the quantities purchased. Swan floating soap is selling at 14a per liox. The price of Lover's dry soap is lis fed for 10-box lots and lis 9d for lesser quantities. Lever Brothers' "Vim" lis for single cases (three dozen) and 10s 9d for five-cass lots. Lever Bros.' • Divan Turkish bath soap, 7s 6d per box of 36 tablets, or at 7s as part of 10 boxes; coal tar and glycerine soap, 5s per box of one dozen tablets,. or at 4s 6d as part of 10 boxes; Skin Soap at 10s per box of 36 tablets, and "Ye Goode Brown Windsor" at 9s 6d per box of 72 tablets. SIMKIT.-i. (Duty: Bulk, 16s per gallon; proof, bottled, 16s per gallon.)

An average business is passing in wine* and spirits, and values are unchanged. Brandy tariffs have been arranged as follow:—Boomerang, 10 eases, 21s; (ivo cases, 225; lesser quantities, 55s duty paid. Bisquit du Bouche—lo cases, 225; Jivo cases, 22s 6d; one case. 55s duty paid. Tho following tariff for Otago and Southland has been arranged by ihe supplying firm:—Gilbert dry gin, lease 45s dutvpaid, 5 cases 15s in bond, and 10 cases Us in" bond. The demand for whisky is brisk, and all the leading brands have good inquiry. The Haig and Haig 3-Star is quoted at 20s for 5-case lots and 4Ss lor lesser quantities. Tho whisky tariff stands as follows:—Ten cases, " 20s in bond: five cases, 21s in bond; and lesser quantities, 60s, duty paid. The brands included in this arrangement are Dewar's Special, Usher's 0.V.G., White Horse, D.C.L., Walker's W.W.. Gaelic Old Smuggler, and Buchanan'-, House of Commons. The price of Crawford's whisky now stands: For live-ca=eleis, 23s in bond: lesser quantities, 525, dntv paid. Watson's No. 10 Old Scotch Whisky is quoted at 20s in 10-csse lots in bond, 21s in 5-easo lots in bond, and'sos for lesser quantities, duty paid. Walker's Red Collar special whisky ts quoted at 55s per case. Other brand's remain nnalteied, and as an index to market values we quote the fallowing agents' list: —Brandies -. Hetinessy's, 57s 6d to 38s per case; Martell's, 36s'to 37s per case; Denis Mounio's, in case, 32s 6d. Whiskies: Thorn and Cameron's Old Highland, 7s to 7s 6d per gallon; Brown's 4 Crown, 7s to 7s 6d per gallon; Dewar's Special, 7s 6d per gallon; Lochiel, 7s 6d per gallon; D.C.L., 7s 6d per gallon; Bon ManDlmi, 7s per gallon. Case whiskies: Usher's Special Reserve, 22s 6d; Sanderson's, 20s; Dunville's, 17s 6d; Burke's, 15s. Genevas: JDEZ—Two gallons 9s, three gallons 12s 6d, four gallons 15s; Key—two gallons Ss 6d, three gallons lis 6d, four gallons 13s 6d: Burnett's Old Tom— 12 bottles 13s 6d, 14 bottles 14s 6d; Wolfe's Schnapps, 22s 6d; Gilbev's Schnapps, 15s to 15s 6d; Gilbey's Dry Gin. 13s to 13s 6d. Tjftmon Hart's rum, 4s to 4s 3d per gallon; Lamb's Imperial Bum, 3s 6(1 to 4s 6d per gallon; Lamb's Golden Grove Itura, 6s to 6s 3d.

TEA. (Duly: Free.) An average business is passing in tea, trade.for the most part being confined to the favourite packet blends. Mesrs T. K. Harty and Co. liavo been appointed wholesale distributing agents in Otago and Southland for Lipton's teas, the first shipment of which lias arrived in the Dunedin market.

TOBACCO. (Duty: 3s 5d per lb.) The White Rose brand of tobacco is finding a good deal of favour; it is selling in case lots at 2s 2d and in box lots at 2s 4d. The tariff of the British-Australasian Tobacco Company stands as follows:— Lesser Case Box Quantities. Eraiid. Lots. Lots. Duty Paid, Havelock (dark) .. 1/3 1/10 5/41 Havelock (aromatic) 1/11 2/1 5/9" Mixture-2oz, 3/6; 4oz, .1/3. Mixture—Dark, 3/3. Canary cigarette tohacco—lib cartons, 2/7. Juno tobacco:—s, eases, Is 4-|d; one case, Is sd; one box, Is 6d; lesser quantities, 5s 3d. This tobacco is now supplied in the-lb rods, blocks, and pocket pieces, and in 4J-to-thc-!h blocks. The T. C. Williams's tariff stands as fellows: — One Lesser Case Box QuanBrand. Lots. Lots, tities.

The T. C. Williams Company has placed a new brand of tobacco on this market— " Golden Eagle-Cut Gold Bars." This is quoted at 6s 9d for 2oz tins. Current quotations for other brands are as follow:-Derby, Is 8d to-Is 9d; Harlequin, Is per case lols, Is for box lots; 5s (duty paid) for lesser quantities. Derby Mild Tobacco, m 2ok tins, is quoted at 6s 9d. Fresh Water—Aromatic, Is 9d to 2s; Triumph (dark), Is 2d to Is M.

THE WELLINGTON MANAWATU RAILWAY COMPANY.-

WELLINGTON, March 14.' The annual report anil balance sheet of the Wellington and Jfanawatu Railway Company to be presented at the twenty-fifth animal meeting of shareholders on Wednesday show that the gross earnings of the railway were £132,460, which sum is greater by .{4728 than the amount taken in the year preceding. Land was sold during tbe year to tho value of £13,548. The directors recommend a dividend of 4 per cent, for the half-year, making (with the interim dividend paid in September last) 7 per cent, for the year on the paid-up capital of the company. The items shown under (ho heading "receipts" are as follows:—To balance from 28th February, 1905, £11,746 17s Bdtraffic, £132,710 2s 7d; land (principal £840 12s lid, interest £24Gl 2s 3d, rents, etc., £175), £11,388 :5s 2d; deposits, £5000; interest! £3330 8s 3d; refunds, advances, etc., £G45 16s 3d; transfer and scrip fees, £14 as-—total £164,830 3s sd. The following is the table of expenditure:- By traffic. £43,249 17s 3d; debenture interest, £34,000; stores. £2G,008 10s 6d; dividends, £11,893 ]0s lid; deposits, £17,000; rates and taxes, .C5G34 7s; construction, £4430 7s 2d; rolling stock and machinery, £4208 7s 4d; land. £1134 8s; directors' fee's, £11100; London office charges, £551 2s lidcommission and discount, £520 4s; refunds' £406 15s lid; auditors' fees, £210: interest' £47 2s 3d ;—total. £150.293 13s Bd. The Tailwny and rolling stock of the company have had £202,086 2s 4d written off it; value, which now stands at £821,393 7s 4d. The freehold lands aro valued at £21,598 2s -Id, and there are bajances duo by land purchasers ,which total £55,227 17s 7d. For maintenance of line, insurance, and contingencies a snm of £29,000 has been allowed for in the balance sheet.

EXPORT OF PRODUCE. WELLINGTON, March 12. The volume and value of leading exports shipped from the colony during February were as follow:—Butter, 59,120cwt, value £340,697; cheese, 23,2COcwt, valuo £.54 520' beef, 14,401cwt, value .C 20.240; mutton, 121301 carcases, value £83.540; lamb, 166,508 carcases, value £101,201; wheat, 162 bushel' value £34; oats, 15,474 bushels, valuo £1525;' potatoes, 12 tons, value iIS9; hemp 2914 tons, value £72,627.

TIMARU WOOL SALE. TIMAP.U, February' 27." The fourth wool sale of the season was held to-night, when 1000 bales were catalogued. The sale was an excellent one, and pricc3 went up all round. There was keen competition for all lots. Prices were from par to H better for fine crossbred, par to Jd belter'for halfbrcd, par to ?d better for merino, compared with the last sale.' Hardly a lot passed. The sale showed a very healthy tone throughout, and was an excellent wind up of one of the best wool seasons ever know in Timaru. The following were the range of prices:—Medium halfbred. IOSd to 12M; medium three-quarterbred, lOd to ll'd; crossbred, 9Jd to 101 d: best combing and clothing merino, 10Jd to iljd'; combing and clothing memo, 9Jd to lMd. Bellies, pieces, and locks sold at an advance of Jd to =d. '

THE NEW ZEALAND DRUG COMPANY'S ANNUAL REPORT. The report of the directors of Kcmothornc. Prosscr, and Co.'s Now Zealand Dnig Company for the year ending 31st January last states that the stock has been taken with ■special care, re-checked, and inspected. Tho outstanding accounts have been also carefully examined, together with the land, buildings, machinery, and plant, and full provision h°as been made for all known losses. Tho balance brought forward from profit and loss account last year wa5,£29,577 Is 2d, less dividend. 3i.it

January, 3905 (£13,635 12s 4d) ami appropriation ai that date to fire insurance account (£1000), leaving'£l4.63s 129 4d, to which lias to he added the net profit for this year (inclusive of £175 Is 4d (or premiums on new shares issued), £IG,OG< 9s 3d, making a total of £30,955 18s Id, less interim dividend lor the half-year to 3tst July, 1905, £0650 10a Bd. Ttc amount, now to be dealt with, therefore, is £24,105 7s "id, which it is proposed to apply oa follows:—To the paymrnt of a dividend for the half-year ending 31st January, at the rate of 7 per cent, per annum (pro rata: on recent calls) absorbing £0900 lis; transfer to reserve account (inclusive of £175 Is 4d premiums on the recent issue of shares).' £9175 lGs Od; transfer to depreciation on buildings (making the amount £7000), £203 os Od; leav ing a balance to be carried forward to next year of £7R25 14s .2(1. In order to simplify the balance sheets in future, if is desirable to concentrate some of the special reserves which liavc been created from time to time and which have been carried forward in the present sheet, and to establish in lieu thereof n general reserves account. The amounts will W equally available under that heading lor any contingencies as in their present form, The directors, therefore, submit the following scheme nf distribution, which, if approved •will he given effect to in (he hooks and appear Sn the accounts of next year:--Transfer from fire insunn-e fund, £3720 12s lid; transfer 3'rom stock depreciation, £7851 9s Gd; transfer iroiu customers' reserve (£.1500 1.5s 3d. less 5 per cent, on book debts. £"2251 Its), £12(0 Is ;id; transfer from profit and loss account, £9175 10s !)u; total to lie carried to general reserve account, £22.000. The directors propose during the year to divide up the reserve of £7000 for depreciation on premises and plant, ar.d to allocate it to the lines where it is most required. Mr Keruplhorr.e has finally retired from the board. It has not b*en deemed necessary to fill this vacancy. To Mr Keniplliunic'.- cneigv and capacity, unsparingly devoted to Ihe company since ils foundation 27 years ago. is largely due its prosperity and present position: and whilst regretting the loss of his valuable services and counsel, it i- to 1>; hoped he will long enjoy a well-earned res! and rebel from the oares and anxieties incidental to ihe active management of a large business. Messrs William 'Brown and John Mill retire from the board, in tonus ol the Articles of Association, but are eligible for re-election. The extent of the company's business, and the time and attention required in ils administration, war. rant at this juncture a reconsideration of the amount voted for directors' fees. The auditors retire in the usual course, but are available for re-appointment, and offer their services accordingly. A dividend is now recommended at the rate of 7 per rent, per annum on the phar? holdings on Ihe register on 31st January, ami I'm rala on Ihe calls recently paid, and if paired by th» meeting will be payable lo colonial shareholders on and after 31st March, 3900. at the Union Hani; of Australasia (Limited), Dunodi'n, ard at its blanches fliri/iigliont the colony, and to London shareholder; at the Union Honk nf Australia, CornJiill, London, on receipt of advice.

PROPEUTV SALES. Messrs Cotter Eros, successfully sold Mr Melvin's'innn on March 3 ai. Arrowtown. The farm is good barley land, near Hayes Lake, and the bidding went briskly from 110 to £11 ]Gs per acre, af which price Mr William Shaw, cf linycs Lake, was the buyer.

The National Mortgage and Agency Company report the foHowir.:.; sales of property in South Canterbury—On account of Alex. Copland—freehold farm of Ctli acres, near St. Andrews, to If. It. Hell; W. Travis-goodwill and improvements of leise in perpetuity at Otaio, to A. Sopcr; H. Hansen—six acres freehold, with wool jelimongcry and all appliances, on Paraora liivpr, to A. S. Palmer; William Hay-freehold estate of 3KW acres at Tyko Pi ul, near Tiniaru, together with all stock, movables, and improvement:;, as a going concern, to Simon Mackenzie; besides several parcels oi freehold in the suburbs of Tiniaru— all at satisfactory prices which show a material advance on values current last year. There is nn active denis'.;d in the district for all kinds of property.

At a sale of pastor?.! run leases at Invercaigill on February 28 the attendance T.a.; large, and competitive prices showed a substantial advance, '.'no jumped from £52 a year paid by the late tenant to £121 per annum, another from £\:-2 to £220, and a third from 1'25 to £S1 a vear.

Messrs Wright. Steplireson, and Co. report as follows: -There was a large attendance at our Crescent Itoams. Tuvcreargill, on February 21 to witness the sale of the wellknown Clenquoich Sli'inn, silnaled nl Athoi on the Lv.]"-<l"u.Kingston line. The property was seeded in tho very early days of the Soiithl.-nd province by the lato Joseph llogers, and has been worked by him and his family ever since. The proprrlv has been a very profitab l ; one for many years, more especially since t!'.3 almost total disappearance oi the rabbits, which at one time infested that neighbourhood. Glenquoieh does not consist of high country, as is supposed by many who judge, the country by the high hills near the railway, these sharp-pointed tops being much higher tlp.it the fine grazing country lying away lo the west. Olenquoich i", indeed, one of the best pastoral countries in Southland, the fine, strong, healthy flock of 21,000 sheep being ample evidence of its capabilities, So many of the large pastoral properties in the rmith have found new owners ■within the past two or three years that there v;a? uo doubt from the first that thare would lie keen competition for Glonquoich. Afler reading over the conditions of the sate, the auctioneer (Mr C. Howells) did not have long lo wait for a straight-out offer of £20,000 for tho property as a going concern Competition was then keen, and in a short time the property was knocked down to Mr Macdonald. of Edcudale. for £24.500. The following are the pav-tioilllirs:--l''reoliold. JS!>l acres, various sections in Kyro district, on which are erected a tin- homestead and all the necessary buildings, besides a beautiful garden and orchard. Leasehold: .High School reserve, 17.975 acres: lease expires September 1 3919; annual rent, .Ki's. Piiin 352 a. 23,710 acres; lease expires February 23, 1919; annual rent £150. Kim 418, 4ffljb seres: lease expires February 2S, 191G; annual rent £1 13s lOd. Him 527, 10,900 acres; lease expires February 23, 191(5; annual rent, £4 Ituii 3,15b, 5250 acres; lease expires February 2S, 1906, annual rent, £10 ISs 9d.

Messrs Todd Bros, and Co. report the follrwing sales:—On account Mr Wm. Cummings, Beaumont: His freehold farm end town sections, totalling 233 acres, with crops nid butcher's business—to Mr Reuben 'Ihomas Gecves, of same town. On account Jtr Win. May- Qiiarfer-acre, with four-roomed cottage thereon, in town of Hcriot—to Mr Sullivan. On account Mr Chas. Cassidy: Two acres, with five-roomed cottage, etc., in town of Hcriot—to Mr Win. May, On account Messrs W. i. Tonkin and Co.. Their famill and flax areas at Miller's Flat—to Mr Has. Shiel. of Kaitangatn, On account of the owner: Sections 2ti and 43, Mock I, Brmger, containing 33 acres 1 rood 27 poles, and residence area with five-roomed cottage— to Mr (Hlmotir, of Winton. This transaction completes the sale of the Dumbarton Rock Estate, near Roxburgh, which was put. on the market in suitable areas for fruit culture recently, seven new owners taking the place of one. All the above properties brought reai good prices, satisfactory alike to the vendors mid the purchasers.

Messrs StroHacb, Morris, and Co. report having held a sale of sections and clearing Bile at Waiiiouaiti on Thursday, Bth inst., when (hey ottered the following on account of the executors of the late Mrs Feeney:—The furniture and sundries were first offered, and sold at fair prices. The cows were then nut up. and all brought fair market values. The sections are situated in the Township of llawksbury, and included in the attendance were several prepared to du business. Lot 1 consisted of four sections (one acre in nil), and was passed in at auction. It subsequently was sold privately to Mr Ben. Hallettat n satisuctory figure. The second lot comprised 21 sections (51 acres), and, after spirited competition, found a buyer in tho person of Mr F. H. Ward at £209. The goodwill of 11 aeie leasehold, with 7; vears to run, was sold to Mr J). O'flallorau' for £2 15s. The homestead block, with dwelling-house and outbuildings, was pasted in, and is now open for leasing to a suitable tenant. Messrs Donaid Keid and Co. (Limited) report bavins; sold, on account ot the trustees in the estate of tho late Hon. James Fulton, two valuable and compact farms, being portions ot the famous Ravenscliffe Estate, situated near Oiiiram, West Taicri, being some of the earliest selections in the West Taieri district. Lot 1. comprising 169 acres, known as Harvey's Flat, nice rolling land, well watered, and all in a good state of cultivation and full of fertility, having been jvoll and sonorously farmed; also lot 2, iibiitiliniug seine 2ic' acres, fronting the main road to Woodside. The low land on this farm fronting the road has been drained and limed and subdivided into a number of suitable paddocks, with thorn hedges and plantations for shade and phe'ter, and all is in the highest state ot cultivation. Both lots were purchased by Mr William W. Keid, one of the early settlers of the locality, at prices satisfactory alike to vendors and purchaser, and under Mr field's capable and careful management we feel convii.ccd the purchase will prove a profitable and judicious im-estnient. and that these valuable properties will be maintained in their present high and remunerative state of cultivation.

Messy Wright, Stephenson, and Co. report having on .Monday offered at auction in their Crescent rooms, Invercargill, in accordance with instructions received from Mr R. F. Ci.tlihcrtsoii, agent Public Trustee, all (he lauded property belonging to the estate of the tote Robert Watson. There was a lair attendance of the public, and most of the land was sold at satisfactory prices. Lot 1, being section 53, Castlerock Estate, containing; 2536 M-res, of which about 150 acres is in English grass and the balance good low hill country, riii" fenced, and in its natural state, and lot 4. section 3. Casflerock Kftate, 3-27 acres, about half English prnss, balance natural state, were both bought by Mr T. L. Barnhill, of (Vtlerock. The property owned by the same estate in the bunisden township—vis., two sections, each 1 rrod 1G poles—was sold respective!}' to Jlr G. F. Johnston and Mr James

Martin, both of Lumsden. Lots 2, 3, and 5 wcte pltssed in at the sale, but negotiations are now proceeding for these, and it. is expected that a total clearance will bo made within the next day or two.

Messrs Stronacb, Morris, and Co. submitted b unction at the hoard room of the Agricultural Hall on March 5, 21 years' leases of corporation properties in Princes street South and in Arthur street. The attendance at the sale was principally confined to present lessees of' the properties, and there was no competition for any of (he lols, which were all disposed of as follows:—Section 16, block X, Arthur street, Dunedin, containing 1 rood; upset rental, .£ls 15s per annum; valuation for buildings and improvements, £057.—Present lessee (Mrs M. A. Tobin), at upset rental.. Section' 1, block XXXIX, Princes street Scnth, containing 9 poles; upset rental, £19 10s per annum; valuation for buildings and improvements, £470.—Mr Alex. Thompson, present lessee, at upset rental. Xorth part of section 2, block XXXIX, Princes slreef South, containing 9 poles; upset rental, £49 10a per annum; valuation for buildings and improvements, £180.—Present lessee (Mr A. Deacon), at upset rental.. Allotments 5 and G. block XXXIX, Princes street South, containing 21.G poles; upset rental, £125 per annum; valuation for buildings and improvements, £5270 19s Gd—Mr James Caldwell (present lessee), at upset rental. Allotment 7, block XLII, Princes slreet South, containing 11.8 poles; upset rental. £-23 13s per annum; valuation for buildings and improvement, £T7G2— Mrs M. 31. Clynia (present lessee), at upset rental. Part Allotment 15, block XLII. Princes street South, containing 1 pole; upset rental, i'.'i JOs per annum; valuation for buildings and :m----provemenfs, fins. — Mr 11. Saiidi'.am'-'. at unset rental. The existing lea=e of this lot is held by the executors of the late O. Adams.

GRAIN, SEED, AXD PRODUCE REPORT. Messrs William ft. Reynolds and Co,, liond street, Dunedin, report for the month ending March 16 as follows:During the last month wo have nol been favoured with particularly good weather—in fact, all the summer weather lias been irregular, especially in Otago; crops everywhere arc backward, but should the antiami keep fine they may still be saved in good condition. Yield to the north is turning out [airly well. Grass is plentiful, and stcck are doing well, although ail classes have eased in value somewhat. The official figures of exports for the year are now public, and compare very well irriewl with any previous years.

Wheat—On account of the lateness of tho season this grain is not offering as freely as is usual ot this titve of year, Owing in high prices locally (hero is no export demand at Hit? moment, and millers continue a. very millions policy, feeling satisfied that prices must case. Wo see no chance of export business until greater quantities are offering and fanners realise that prices they are. asking are tco high. Should this come about, and ii reasonable freight bo offering, some export business will be likely. Wo can give to-day's prices after prime long-herried, Us 3d; short-berried, lis 2d; fowl wheat (which lately has not shown the usual difference in price), 3s Id per bushel of GOlb (f.0.b., sucks weighed in. net cash).

Oats.—ln our last we advised more on hand than is usual at this time oi the year, and we v.cre right. At the same time that late arrival of new crop has helped matters somewhat, and values have not dropped as much as expected. Indications are that the new crop will be a fairly heavy one. To the north a. considerable quantity of it. lias already been saved; to tho south it is nil out yet, so we cannot say much as to the condition it will be saved in. Wo quote: A grade, up to 2s; 11 grade. Is llcl; C grade and lone iced, Is ind to 1« 10} d per bushel of tOlb (f.0.b., sneks weighed in, net cash).

Barley.—lt looks as if ihnre is going to be a, scarcity of grain this veer, and malsters have already entered the field in the north at high prices. Some merchants, too, have bought heavily, we understand for Australian shipment. Xear at hand none of the new crop is yet offering, while in Canterbury anything that offers is readily picked up af fidl prices. We quote: Prime malting up to lis land very' scarce); good malting. Its i>d to Is (kl per bushel of 50lh (f.0.b., sacks weighed in'..

Seeds.—Ryegrass is now pretty well all saved, and has fumed out light crop. Loth in point of quantity and weight. Buyers have been very keen in the face of a. fair Australian demand, and shipments medc have been well up to the average. To-day the market closes, strong, cspeciallv for heavv-wcight seed, which wo quote'at 4s OcT for 3l)lb seed; 28lb. Is 4d; 2Glb, Is per bushel of 20lb. Cocksfoot: There i"- a very small stock of old seed on bond, and the new crop in the Xartli Island has gone into cci sumption very well. There are indications in Canterbury that this year's crop will be about an average, but it will be dirtier tli2U usual and much darker in colour and not likely to dress out well. Heavy seed is likely to be very high in price, running up as high a.) !>\A. It will be another month yet beforo wo can give accurate proportionate values. Chaff.—The local market is well supplied, but prices ruling preclude any chance of export.

Polatoe«.—Owing to the blight affecting various districts these keep very high in price. The season for kidneys is now past, and new Dei wonts are offering in just about sufficient quantities to meet all local demand at from £A to £9 per ton.

Butler.—At fhe time we last reported the market a'. Home was very firm. Since then it has receded, and to-day stands at about IOGs. Tins', however, does not make butter any easier to buy in the colony, owing to nearly all the factories having sold their output till the end of March. This makes them (at the piesenl lime at anv rate) independent of buyers, and it is doubtful ii prices here will ease appreciably until stocks begin to accumulate with them during Apiil. We anticipate a verv considerable tall then. To-dav we c?.n give the value as 10! dto \f",i (f.o 10. Shipments of milled butter have eased considerably, lmt supplies seem to move into consumption locally readily enough at from 9d to 9ld per lb.

Cheese.—These factories are in much the seme position 03 bu'.ler lactones, excepting that the merkef at Horn" still continues firm, but it is very doubtful if London will 1* prepared to take the April shipment at the present prices, and consequently the market, when this month is here, should recede considerably, for we cannot see any outlet for (lie April-May make of cheese except at very much lower prices, which m> can give to-day at 5Jd fo SJrl for large aiid medium size, while loaf is not being made by almost any factory, and is worth Gd per 11).

Flour.—With wheat easing in price this market has eased also. We quote: £$ 10s for 30O's; £10 for 100's; 10s 5s for 50's (f.0.b., sacks in).

Oatmeal—With tlit? new oats arriving on the market the price has declined considerably. We quote: ,€lO for bulk: ill 10s for 7's and 23's; short ton, £10 (f.0.b.. sacks in).

Bran.—Stocks are heavier than they were some time ago, but the f.o.b. price still remains £3. with an easier tendency.

Pollard is in rather better supply, hut may stilf he quoted at £5 per ton (f.0.b.).

Victory (aromatic) in 2 1 5 9 Diadem ., 1 11 2 1 5 9 Nosegay in 21 59 Royal Colours 1 11 2 1 5 9 Golden Eagle „i .... 1 n 21 59 Lucy Hinton .. .... 2 1 2 3 s 11 Rul>y 2 G 2 7 6 3 Welcome Nugget, .. .. 2 G 2 7 G $