COMMERCIAL.

West Coast Times, Issue 944, 1 October 1868, Page 4 (Supplement)

COMMERCIAL.

Since our last report there has been a better business doing, but the improvement has been more apparent than real, being consequent upon the arrival in port, during the first half of the month, of vessels long detained in the roadstead "with cargoes much needed to fill up stocks. These have been almost immediately placed by importers without, in scarcely any instance, having recourse to auction sales. The trade of Hokitika is however just now undoubtedly in a very depressed state, and it cannot be denied that the cause of the depression is that there are to many persons engaged in' trade for the requirements of the place. " There is yet a good trade doing on the coast, but in conse" quence of the keen competition amongst importers, there is scarcely a margin of profit upon any article which does not happen to be so scarce in the market, as to be procurable only at one or two wholesale houses. So far as importers and wholesale traders are concerned their can be no doubt of their commercial soundness, and although they may not he making profits, we believe they are exercising an amount of praiseworthy caution in their dealings which preserves them from any serious losses. During the month there have been nineteen declarations of insolvency filed in the District Court, the debts in which, so far as hag been ascertained, amount to £5850. Of these there are only two where the debts are considerable in amoixnt ; in the one case there is owing to creditors £1,207 ss, and in the other £2,013. All the other case 3 are of a petty nature, ranging from £30 to £290, and we may state, in confirmation of our remarks as to the soundness of business houses engaged in the trade of importing merchandise, that the list of insolvencies does not contain the name of any individual whose transactions have been of a commercial character. The imports during the eariier parfcof the month were rather considerable in amount, though not at all in excess of the requirements of trade, and already some articles are getting sufficiently low in stock to render it desirable that an opportunity should be afforded to the vessels now- lying iv the roadstead, to enter the port and discharge their cargoes There has been but little fluctuation in prices since our last report. Flour has remained steadily at the figure we then quoted, £27 for best Adelaide, though at times during the month there have been some signs of a disposition to weakness, and, had the imports been larger, perhaps a lower quotation would have ruled Provincial flour is worth #22 10s to £23 10s according to the locality Whence imported. Tasmanian flour does not realise more than £20. Horse-feed has also maintained considirable steadiness. Oats are firm at 4s, with an upward tendency. Bran may be quoted at 2s, but with an inclination to a slight decline. Chaff is fully worth £15; a higher figure is however demanded by holders, but we question, whether, in the face of the somewhat considerable quantities lately to hand, it is obtainable. Potatoes of New Zealand growth are worth about £8. Those from Circular Head, and which are .much more esteemed, are held in but few hands, and are scarcely quotable. Onions are now so scarce as to be all but out of the market ; we believe a good parcel arriving in sound condition would realise, at lea9t 6d per lb, perhaps more. Prime butter has been very scarce throughout the month ; all that has, as yet, come to hand ' has been easily placed at 1b 4d to Is 4Jd per lb. This must, however, be considered an extreme rate, and wholly attributable to the prevailing scar- , city; considerable parcels are now expected to arrive from Sydney-, this being the best season of the year for shipment from that port. We do not expect that the price will then rule higher than Is 2d to Is 3d. There has been a slight improvement in Provincial cheese, which we now quote at BJd; English cheese ia worth 13d. There has beeu very little doing in groceries during the month. We quote brown crystals at £48; Company's No. 2 at £53 10s. Tea, fine quality, £5 15s per half-chest; medium, £4 15s. Coffee, Is 4d per lb; currants, 5Jd; raisins, 7£d; Scotch Jams, 10s 6d; Tasmanian, 9s 3d; marmalade, I.ls 6d; pearl barley, 31s; oatmeal, 235; oysters, 10s Cd ; lobsters, 8s 6d; salmon, 19s; sardines, halves, 9s 6d: quarters, 6s 6d; Coey'B or Sinclair's hams, Is 4d; Compton's Is 3d; bacon (unsaleable), the best at Is 2d; caudles, Is Id; kerosene, 3s. In spirits we have to note a decline in brandy since our last report. We ftow quote Henuessy's bulk at 8s; CVP at 7s 6d; Hennesay's case, 83s; old torn, 19s to 20«; whiskey, 14s; rum, in bulk, 6s; whiskey, 6s to 6s 3d. The market is again cleared of geneva of the JDKZ brand, And buyero are compelled to be content with Itm farooral branch such as VH and Palm Tf«e; for which, m the absence of JDKZ, they p*y nearly an much as they would have girea tor the taara esteemed brand. The vrlee at present J» from 18s to 19s. There fm not b&m much doing in wines, and prU't* arc, timhstntfcd. The aalcs at auction A/f mdt&hhttAUie (tntin% the month have been mdfeirit'ty limited, and are aimonfc wholly Hfctfe^ ia Me ttlaney'tt report, which we