COMMERCIAL SUMMARY. Sydney, May 18.

Otago Witness, Issue 2203, 21 May 1896, Page 14

COMMERCIAL SUMMARY. Sydney, May 18.

The imports, compared witm the sarna period last year, show an increase of 38 per cent, in value. The explanation of this Is probably fonud in the fact that imports last year were restricted with a view to the expected removal of dutisp, while this year there has been a considerable addition from the fact that the duties were only removed on the Ist January. Beyond thia, there is the large quantity of wheat and flour required to make good the deficiency in tha harvest account, there haing nearly onethird increased importations in this raspecfc. Finally, an inccaa?ed use has be9n mads of Sydney on the Intercolonial market. The contraction in the exports is wholly the result of the drought. Bsefc sugar-growing promises to prove a success if the test ex1 psriments can be carried' to general uae. A parcel grown' at TenrerfialrP, although not quite matured, contained 17 per C9nt. of sugar. This at present rates, would return the grower 18s per ton of motPj or 12g4 per acre. Naw Zealand is profiting by Newcastle's misfortune if a letter received here can be trusted. The communication stated that the demand for West-port coal is so brisk that-the company had to suspend foreign shipments for a month or two. Melbo"*jrne, May 1&. Business is somewhat quiet in the import trafe. Reports from the country show that early sown crops made great headway. Grasa is plentiful, ap.d good lambing is expected; in fact, both the pastoral and agricultural prospects at present are most eacouraging, In wheat the only noticeable feature is tha improved demand in the couatry on milling account. A large proportion of the country mills are almost worked'out. The earlier purchases of wheat | will require to be- brought into the market ' sliortly. The. report cf the National Mutual Life Association sb«iws a surplus over neb liabilities or L 169.694:. Of this amount L 35.000 : is already eet aside as an investment ftucfcua- | tion fund, and n further sum of. 1,35,000 is ! now added to it. L 85.000 is allotted in bonuses, and LI 4 000 carried forward. In. moat cases the amount of the individual bonus will be less than the last, investigation, but the directors, considering the circumstances of the last three years, think the result satisfactory. Adelaide, May 18. There is a, better de.nand foe wheat. In- | dications seem to point to a slight improvement in rates, although time alone w.ll show whether the improvement will b«t maintained. The opinions of those who have closely studied tb« matter differ widoLy on the point of an exportable surplus. In the southern parts of. the colony there have been light showers, but no indications of a downpour of rain, which is badly needed in some parts*. Various devices have been' resorted to to keep the cattle alive, but even a more serious matter is the delay caused in seeding operations. Unless rain comas soon , the wheat in the ground will not gat an earl; atari*. At present supplies of New Zealand butter are coming into the market.