COMMERCIAL

Otago Witness, Issue 1764, 12 September 1885, Page 15

COMMERCIAL

An adjourned meeting of Messi s Ncill Bros.' creditots was held on Saturday morning. Mr G. L. Dcnnislon heing in the chair. An offer of 5a in the pound wits made lor the estate — 2s (id cush, and 2s (id guaranteed by Mr P. C. N^ill. The offer was nob favourably received, and it having been mentioned that Mr Dyinock h.id gone to Melbourne on matters connected with tin* estate, the meef.iiig was adjourned until ii report trom him could he received.

• Simsnn, Daeomb, und Co. report, having sold privately to Mr A. Stewart, of Otama section 9, block 11, Ofiini-i, 2tiO aeM'S l , at £5 per acre This section was lately sold by the same firm by auction at £i 10a per acre.

Tließritish bhipbuildin" trade t-hows the universal stateof depression in business perhaps as well as any one industry e:iu, as shipping depend!; upon the interchange of pioduel.s ior existence, and the Knglish now control the shipping trade ot the world During the first six months of flic present, year 200,000 tons of tonnage wete launched aganisf 420,000 during the same period ot 1831, and ti2B,ooi) during the first hull of 18S3. Of the vessels launched many have been thrown on the builders' hands, and there are many linibhcd vessels left on the. stocks for the same reason. The outlook for the next six ninnthsis less encouraging than for the six months just past.

Me iirs Da:lgety and Co, (Limited) have received the following cablegram from their head office, London, doted Ist inst.: — " Wool sales opened with little animation; prices weak. Crossbreds flat, and prices for merinos rule 5 per cent, lower than the closing rates> of lnM series."

Mr Montagu Pym submitted to auction on Monday the unexpired leuse of part of section No. 51, block XXI. corner of Hanover and Castle streets, with buildings and improvements. The property was purchased by Mr Kennedy for ,-6180. ' ■•

Messrs J. A. Park and Co. submitted to auction on Monday, and sold allotment 7, subdivision of section -I, block XXXVII, Lcith street, Dunedin, for £325, to a purchaser whose name is withheld. They also quitted sections 7 and 9, block IX. Kaitanftata district, and suctions 5. G, T, ami 8, block IV. aiid 1 and 2, block VI. Coast district., containing (524 acres, together with the buildings thereon, at 3-Js per acre.

Messrs D. Reid and Co. offered for sale by auction on Monday allotments •!, 5, 8. and 11, block 11. Henley, containing about 111 acres. The property was I assed in at £1800.

The National Mortgage and Agency Company, reporting on the Melbourne market, state; — Oiit.s have experie iced some fluctuations ■which were to some extend pointed loin our last circular. The expected arrival of some 30,000 bags during the lirst fortnight' in August naturally depressed values ; but the outselling ot a few purchase.:, iti'xtified the quantity which actually arrived, and lhe improved si ate of the Sydney 'market during lhe pis>t. week has imparted 'considerable firmness to our own, leading to a deeie'ed recovery. We are now able to realise 2s 3d to 3s 4A under bond, und from 2s lid to 3b 2d for common to good qualities, duty paid, being an advance of fully lkd. The future of values depends wholly upon the necessities of New South Wales, and the lirmness or otherwise of New Zealand holders.

Mr Mo'ifagu Pym. under instructions from T. Calcutt, Esq., offered by auction in one lot the Goodwood Estate, comprising 2-ITO acres, together v,i(,h all buildings mid improvements. Tins property, however, was not siid. and the auctioneer stated i.iiat lie would be in a position in a few days to offer the properrv in sui'able i'armint: sub-di\ isions.

Wool. — The Nesv Zealand Loan aivl !>.rereanfci!e Agency C mipany ( Limited) have received 1 he follow - ingtelejji ,un from their London office :—" W!i^-i<- market dull. Adc'uirie is in orth flfts ; New Ze.ilaml averages '.V2s (3d, and New Zealand long-berried 33s tid per .1961b. Adelaide (f.n.q.) is worth (c.i.f.) off eoasf, Ws 9d per '1801b. The crop here is estimated to yield 9,000,000 quarters.