AMERICAN COMMERCIAL.

Otago Witness, Issue 2252, 29 April 1897, Page 14

AMERICAN COMMERCIAL.

Messrs Arkell and Douglas report under date New York, March £7 :— J For the purpose of cirrying out their policy of protection, and increasing the revenue of the country, a special session of Congress has been convened, and debate on the Tariff proposals is now progrc sinj,'. It appears likely that a new J schedule, with approximate duties prevailing : under the former act known as the M Kinley ' Hill, which would include n restoration of tha previous specific duty on wool of lie to 12c per lb, will be pns-ed. Considerable opposition to tlrs . vi_ry high duty oa wool has been developed by the manufacturers, nnd until the rate is d-finitely fixed »onie uncertainty as to its final adoption wiil I i-xist. Another point whi^h will affect the foreign j trade i* the pjbtjihle withdrawal of drawbark now I allowed on goods piiclad in cans niadu from j imported tin. tthoul 1 this lie 'lone it would probably increase the price of oils, fiuit.s, vegetables, fi-h and meats, nUo shovels and s-pacte 3, and scvernl oilier haidwavu lines. It is expected tt.e I (lovpinment will bs abe to lealise about 75 000,000dol annually nioie tban has been the case under the recent Wilson Uil!, and, if ro, the detip.it which has been made annually in the Government accounts will be covered, and probably a small surplus remaining. K»ro-.eiio Oil. — There ha>, been no fluctuations in price during the past month, and we continue to quote a basis of 7c. This quotation is equal to it 35-looe per gallon for the 150deg " SVater White," kerofe c, packed in 2-4 Imperial gallons, delivered to vessel in 1000-case lots. Sailings for . the Australasian pots during th<* past four weeks include :—lf or Wellington— Per barque lielle of Arvon, 30,700 cases ; barque Maria, MOO cases. . ]<'or Auckland—Per Graco Deering, 12,('5() cases. Vov Dunedin—Per baique ltavenswoid, SSOO cises ; per same vessel for I rttelton, tiOOO case*. For Nehon—Per barque Belle of Arvon, 6750 cases.