COMMEECIAL

Wellington Independent, Volume XXIV, Issue 2782, 9 January 1869, Page 4

COMMEECIAL

Independent Office, Friday evening. The Christmas holidays have in some measure interfered with fche business of fche last fortnight; although every branch of trade may be considered as exceptionally dull for the season, and the general complaint of scarcity of money leads us to the conclusion that much duller times are in store for us between this and winter. The Melita and Wild Duck have arrived and are discharging their cargoes, which will keep our mai-ket fully supplied with British goods for some time to come. \ Stocks are not above the average, but the general indisposition to speculation of any kind confines the trade to the mere ordinary requirements of i the retail dealers, and consequently few sales of any magnitude are reported. Brandies are in full supply. Hennessey's and Martell's quoted afc 8s for bulk, and 27s for caso. Rum— lo o.p. enquired for afc 4s 6d to 4s 9d per gal. Geneva — JDKZ 16a to 22s per case according to contents. Beer — Blood's stout; continues fco keep the lead in public favor, and is worth 12s 6d por dozen ; other brands 9a to lis. Bottled Ale is not much enquired for. Ind Coope's iB worth 12s. Inferior brands 8s 9d to 9s per doz. Sugars remain at former quotations, with a slightly upward tendency. Company's Melbourne pieces are quoted afc, No. 1 C. £50, No. 2 W £52, and No. IW. £54 per fcon, duty paid. Mauritius, assorted, in no demand. Tea — Largo. stocks of inferior quality. Good congous are worth Is 8d to Is lOd in bond. Boxes enquired for. Rice — Good Patna is saleable afc £32 to £34 per ton. Flour — Prices have gradually receded, and may be now quoted at £16 10s for Colonial, and £17 per ton for Adelaide. Otago flour has been as low as £15. Hops — New Hops are worth Is 6d per lb. Candles — Sperm Candles have been bought readily afc ll£d per lb in anticipation of an advance in price. Salt — Large stocks. Coarse salt may be quoted at 50s ; fine at 70s der ton. Grain- — Oats remain at the same figure, 2s lid to 3s Id per bushel for a shipment, and are in full supply. Maize ss. Butter nominal. We hear of sales of prime keg at 8d per lb, but hardly any price would be obtained for doubtful cure. The Grain Market. — The Lyttelton Times of the 6th insfc. gays : — " The following report on the South Australian corn market bus been received from our own correspondent. Ifc is dated, Tbe Exchange, Adelaide, Dec. 22 :-—The South Australian harvest is in full swing, and I can scarcely give a clearer impression of its present position than by detailing the progress of the past month. Harvest had already made a vigorous beginning in some forward parts during the last week or ten days of November. Early in this month, dray loads of fche new crop were seen dropping one by one into the town, and were hailed with satisfaction as tho harbingers of a year of prosperity — how badly needed none bufc a South Australian can fully understand. There were amongst us a plenitude of prophets, prophesying evil things — red dusfc for the later districts, and blight in patches in all; odds and ends of rusty eai'9, plucked from untoward corners were exhibited on 'Change, and our satisfaction was marred by uncertainty. At the utmost, our yield was estimated at ten bushels per acre. There was a considerable portion of old wheat and flour still left, and the • effortß of holders to maintain prices and quit stocks at as small a loss as possible tended to enter the new crop at higher rates than was jußtified by circumstances. Some thousands of bushels were bought for forward delivery up to the end of this and the first week of 1869, afc 4s 6d to 4s 9d per bushel. Since then, values have gradually but surely receded, and to-day fche best, price for dray loads here is 3s to 3s lOd, and for merchants' parcels at Porfc Adelaide from 4s to 4s 2d, F. 0.8. This fall, in so short a time, notwithstanding that harvest operations have been materially retarded by several stormy snd overcast days, is accounted for by the fact that shipments to England cannot be made at a profit at over 4s. F.O.B.— that a further fall in Mark Lane quotations is almost certain, that freights are bigh and likely to be higher —standing to-day at 60s, with a talk among the shipowners of 70s, and that every fresh report from the country districts is more encouraging as to yield. An agricultural leader in the Register oi last week gave our yield, as 12£ bushels per acre, or 6,600,000 for the wholo colony, leaving ub about 100,000 tons of flour, or its equivalent, in grain, to export. Since then, frcm the increasing y favorable reports, I 'am inclined to believe 7,000,000 bushels nofc an exaggerated estimate, aud that our surplus will amount to 120,000 tons, of whioh ifc is probable New South Wales may want 50,000 tons, and exclusive of small demands for New Zealand, the East, and occasional shipments to Victoria for mixing, the remainder will have to be sold in the English market. Flour has been in little demand lately, and quotations are almost nominal, holders being unwilling to sell the proceeds of their dearly-bought old wheat at the prices forced on them by the quality and cheapness of tho new. During the last few days sales have been made — reported to be for the New Zealand market — afc £10 5s per ton, which is £2 less than our nominal quotations, but not at all under the price afc which the miller can realise a profit. Barley is a plentiful crop, a large acreage, and of good quality. Not much has yefc come to hand, harvest operations having, as in the case of wheat, kept the market comparatively bare. Feeding Cape is worth from 2s Bd, and malting up to 3s, whilst prime English makes from 4s 9d to 5s per bushel, freely. The failure of fche home crop, and consequent certaii ty that importations of malt must be at very high rates, tend to keep up a good demand, and to secure good prices for full samples. Oats are little grown, and not much used, Cape barley, wheaten hay, and bran, being tho chief horse feed in fche the colony. Prime white Tasmanian are worth 4s, and inferior of our own growth down to 2s 6d or 3s. Any heavy importations would swamp the market and lose money. On the whole, our harvest prospects are splendid, and South Australia is already evincing unmistabeably her on-coming prosperity. Prices are low, and almost certain to be lower before this is in print. English rates, scarcity and dearness of freight, and the high prices of sacks — 16s« per dozen — .with the absence of" any sufficient intercolonial demand, will effecfcually keep down values.— W. D. Gl?de, Broker." Auckland. — The iVeie Zealand Herald of the 2nd January reports : — The steady development of the Thames goldfield, and consequent export ot gold, has nob prevented an increase in the value of our other exports, and if the mania for overtrading which has already begun to show itself can be kept within reasonable limits, wo anticipate a fairly remunerative business being done during the year which has now commenced. Shippers at a distance, however, appear to have an exaggerated notion of the requirements of our market, for, amongst ofcher signs, wo observe thafc the old line of ships between Liverpool and this port is to recommence running, and already there ire no less than three vessels laid on for Auckland. We may premise our ÜBual quotations by remark-

ing thafc the market is sufficiently stocked wifch nearly every description of merchandise. Oilmen's storeß and salt are somewhat scarce, bufc shipments already advised will keep tho market supplied. Bottled ale is nofc much enquired for. Stout is scarce, and a small shipment would meet a fair sale. Quotations for first-class brands are from 10s to 12s. Colonial bacon of good quality is saleable afc B£d to 9d — the market is supplied. There is no demand for potted butter. Supplies of fresh are greater than the demand, and many of the farmers are salting, their butter in the hope of prices improving. Cheese is now plentiful at 7d to 7_-d per pound. The stock of candles is fully equal to our requirements. Price's No 1 are quoted at 12d per lb ; other brands, lid to ll.d, duty paid. There is very little Newcastle coal in the market, and fche cargo pei\Kate meets a ready sale. Supplies of provincial coal now come forward regularly, and the consumption for domestic purposes is steadily increasing. Otago. — The Daily Times of the sth instant reports :— Stocks now seem to hang somewhat less heavily on hand, and prices aro generally firm, with a tendency to improvement in many kinds of goods, though no noticeable changes have taken place, and we shall probably require to advance a little into tho coming month before much opportunity for testing values can occur. Imports Bince the sth ulfc have been light, arrivals consisting of, from British ports, the ship Chile from London, and Harvest Home from Liverpool ; wifch from other ports, Angenetto from San Francisco ; Martha, from Norway ; and Mary, from Foo-chow-foo ; to whioh may be added the Emulous from Nova Scofcia.