AUSTRALIAN COMMERCIAL REVIEW.

Otago Witness, Issue 224, 28 May 1896, Page 15

AUSTRALIAN COMMERCIAL REVIEW.

Sydney, May 23. The week has been a dull one in the import market, business being mainly restricted to small country orders. For the first 20 weeks of the year the imports into Sydney show an increase of £1,391,000 and the exports a decrease of £609,000 as compared with the corresponding period of last year. Auother good general rainfall has further improve J the pastoral and agricultural outlook. 'Ihe produce market closed quiet with the exceptiou of feed oats, which are very scarce and arc selling readily at 2s 5d to 2s 6d for ordinary and New Zealand prime. Onions, which are scarce, are quoted at £8. Other values aie unchanged. Melbourne, May 23. The crop prospects are assuied by another good rainfall. The import market in still without much life. Wheat is quiet, and holders are refusing to sell under a reserve, quotations at country stations, where stocks are very low, being above what city millers are prepared to offer. Feed produce lines are steady. Oats are very firm, and the shortage of the past season's wheat c«op becomes more apparent as Ihe actual re urus come lo hand. For tho firat 20 weeks of this year the gtoss reieipts of wheat and flour leceived by rail at Melbourne and Port Melbourne are only 315.800 bags as compared with 1,080.000 for the corresponding period of last year, while the deliveries at Geclong have decreased by over 500,000 bag*. The gross export of wheat and flour from Melbourne during the same period shows a comparative decrease of 472,000 bag^. On the basis of the present returns the Age estimates that the total shortage is 413,000 bags. The Age, commenting on the possibility of the development of trade between Australia and Japan, says one of the influences stimulating production with a view to export is the prospect of trade with Japan, but the consular report on the' foreign trade of Japan for the quarter ended September last places the Japanese market in a very unfavourable light as an outlet for Australian products. During the quarter Japan imported Australian goods valued at 193,000d01, making a total for nine months of only 520,000d01. In support of its contention that the main feature of the trade will be the exports from Japan to Australia, the Age quotes from the consular report to the effect that there is nothing in the Biesent or prospective requirements of Japan that

warrants the extravagant hopes vow entertained of Australia speedily finding and creating a profit* able and extensive market in Japan.