AUSTRALIAN COMMERCIAL AND MINING.

Otago Witness, Issue 2209, 2 July 1896, Page 20

AUSTRALIAN COMMERCIAL AND MINING.

Sydnky, June 27, The inclement weather and the interruption of the telegraph wires 'interfered considerably with business. The share markets and investment stocks generally close with * rise on the previous week, banks being especially strong. • New Zealand 4- per cent, debentures were in- ' quired after at an advance. In mining only ! moderate business was done, both iv silver and > gold. Silver was comparatively negleoted, while gold was chiefly confined to WoßtraHap, the market being weak and declining ,., till towards the close of the week, when a better feeling was apparent, bub prices underwent no important changes. Great Mercury sharei'sold from 6s 6d to 7s 6d ; closing bujers,a,t 7a. find ' sellers at Bs. Kapai buyers offered lOs,. but sellers wanted 11s. The activity in the mining market is causing increased Attention to pro? specting, and number* of new finds are reported. The Turon syndioate 'at Cftpentee struck an • extensive lead, whioh washed ..from £oz to'loz per load. The Gulgong field has taken a net? lease-of life, the deep leva!» being tapped with highly satisfactory results. Seventy-three tons of stone, from the recently discovered reef yielded 66£oz. The Salvation Hall Company alio tapped the reef, and obtained magnificent specimens, whioh. are estimated to go BOoz to * the ton. The grain and tariff changes which come into force at the end of the month have tended to render the" import "markets very quiet. *- In ' breadstuffs the chief item of interest has been the arrival of the Monowai with about 9000 sacks of flour, and the Waivimoo with 2000 sacks of flour and 9800 bags of wheat. The sale is &Vo reported of 1000 tons of Californian flour, and of a simitar quantity of wheat to arrive— .the wheat at 3s 3d at the ships' slings in Sydney. Further extensive business it- still pending., in the same direction. In produce and feed stuff* the market closed quiet. ' The growing importance of timber is shown by the departure during the past few days of three vessels— one for Rotterdam, the other two for London— taking together 1,000,000 ft of hard woods. This brings the total exported up CO date) this s year to three and ahalf million feeo. As a result of the increased 'demand there has been an increase in the price paid to the millers of 20 per cent. ' .' ' ' , Melbourne, June 27. - Though trade. in the .import market -con« tinues very limited, the feeling of confidence is strengthening owing to the prospect that thetft;. will be no tariff tinkerings this session.. In wheat buyers still refuse to operate excepting when the prices they offer are accepted, while holders are apparently content to -wait for & revival of the demand, whioh they consider ii only a matter of « short time. The lambing returns from the Western die* tricts are hardly up to expectations, and aye«. raged 70 to 80 per cent. ■ ' The annual report of the Post Office Savings Bank shows that the total deposits at the end of 1895 were £3,128,000, being an increase on the . previous year of £42.000. ,- - The threatened friction between the Lund and Aberdeen and mail steamer lines in connection with the carriage of frozen praduce has been averted. It will be remembered that the former lines secured the new Government contracts' at rates considerably below those pre- ■ viously charged by the P. and O. and Orient; Companies, and that the mail companies imme* ■' diately reduced theirs to a similar level. - Theywere prepared to enter into active competition / with the new tenderers, but an amicable ' arrangement has now been made by which they share' jointly in the Governmeut contraots. This gives the producers a splendid and rapid service all the year round. Febth, Jtmo 27. A powerful syndicate has acquired eight square miles of the best coal-bearing lauds onthe Collie fields, and are about to commence • developing it on an extensive scale. The syndicate are highly satisfied with tbe "aepoiitl, whioh have bsen thoroughly tested by boring. Coolgardie nuggets, which in the earlier dayf were an attractive feature of thab goldfield, have lately been scarce, but this week » look/ . digger named Ottawa? unearthed on the Day. Dawn lease a fine slag yielding 1320z. A now rush is reported at Btrdco, in the Ka^oorlia district. Splendid stone wast brought iv by the -' discoverer, a prospector nmnedlKnvanagn. Sensational specimens have also been brought into Coe from near Boyd's. The finder stated that the stone shows gold in pennyweight anal * ounce pieces. A new addition has been made to the mineral wealth of the Kalgoorlie distriot by the discovery of asbestos of payable quality ia UrgO «n*atititfj neat Hum*. Lake, j