COMMERCIAL.

Wellington Independent, Volume XXVI, Issue 3331, 28 October 1871, Page 2

COMMERCIAL.

«. . Independent office, Friday evening. Trade, whioh for some time has appeared to be going from bad to worse, has at length shown signs of improvement, and although tho business of the past month gives no great reason for congratulation, it evinces Byrnptoms of renewed vitality, which are very encouraging, and lead us to hope that the worst of our difficulties are past. The increase in the value of our staple export has doubtless had much to do with this desirable result, but we also incline to the opinion that this colony, in spite of the continuous grumbling about hard times, has in itself resources so great and varied, that it is always insensibly progressing, and that mattera must always rectify themselves in the long run. In the wholesale drapery trade a large amount of business has been done, as many orders which went formerly to Melbourne are now, owing to tho increased tariff, executed here, as the drawback of duty can only be obtained on unbroken packages. In groceries a fair amount of business haß been done, but mostly for re-shipment to the out-ports. The flour trade has been tolerably active, at a reduction on last month's rates — Canterbury flour having, as we have always urged, been obliged to recede, owing to probable large importations from Adelaide, where, being shut out by the Melbourne tariff, they must seek fresh outlets for their produce, and the stock of grain in the Canterbury province being larger than dealers were willing to admit. Feeding grains have been comparatively stationary, oats ruling at 3s to 3s Id per bushel for a good sample. Great activity is noticeable in the Melbourne Shipping and Freight Keport, which has led to a rise in freight there. Tho demand for tonnage has been so great that the freight on greasy wool to Boßton or New York is quoted at one penny per lb. This will doubtless lead to a corresponding advance here. We notice with regret the suspension of Messrs Turnbull, Reeves and Co, with liabilities amounting to £35,000. Heavy losses arising from depreciated values, and the long continued dullness of trade, have led to this result. It io expected the estate will pay a dividend of 12s 6d in the £. Ale and Beer, duty paid (duty, bulk Is, bottle Is 3d per gallon) — English bulk ale and porter have quite disappeared from our list of imports. Bottled ales are in fair supply, with moderate demand, at 10s 6d. Bottled Btouts are scarce, for first-class brands. Blood's ] is worth 12s to 12s 6d j Guinness's, 12s per dozen. Bags and Woolpacks, duty paid (duty, Is Gd per cubic foot) — As the shearing season approaches, the demand for woolpacks has improved ; prices remain at 4s 9d for full size 10£ lbs packs ; three-quarter do, 4s 3d to 43 6d each. Bags are dull. Candleß, duty paid (duty. Id porlb) — Little business haß been doing in sperm candles during the month, and prices remain without any material change. Price's Belmonts, ll£d to Hid per lb. Coals (duty free) — The importation of coals during the month has been Icbb than usual, the Heversham, Aberdeen, Annie, and Gazelle, with an aggregate of 2200 tons, being the only arrivals. The quotations for coals afloat are 27s to 28s per ton ; landed, 30s per ton. Coffee, in bond (duty, 3d per lb)— No alteration in values. We quote clean Plantation lOd per lb. Confectionery, duty paid (duty, 6s per foot) —Our local manufacture compares so favorably with imported sorts that sales have fallen off to a great extent. Keilor's is quoted at lid per lb. Drugs and Chemicals, duty paid — Soda crystals (duty, Is per cwt) — Light stocks j worth £9 per ton. Sulphur (duty, Is per cwl) — Stocks ample, in limited demand, at £22 to £23 per ton. | Drapery— (duty, 5s per foot) — The drapery trade has been brisk during the month, and the wholesale houses have been fully employed both with the usual retail trade and tho exportation for country trade. Flour — (free)— Canterbury flour has come in freely during tho month, and rates have further given way. First-class brands are now quoted at £14 per ton, for sacks, £14 10a per ton, for bags, at which rates wo think this staple hkely to rule for some time to come, there being no apparent p/obability of improvement in the face of possible large importations from South Australia. Fruits, dried, duty paid— (duty Is per lb) — The shipments per Halcione, and Electra, have fully supplied the 7narket with fruits, tho stock of which was becoming rather bare — currants are 6d to 6M per lb ; Elerue raisins, 6d per lb ; figs in small boxes, 8d to 9d per lb. Grain — (free) — There have been no arrivals of grain during the month from any other than New Zealand porta — we note tho arrival of a brig at Nelson, from Adelaide, laden with flour and grain, a part of her cargo may corao on hero. Hops, duty paid— (duty Id per lb)— Gfood English hops are becoming scarce, and are worth 1b 5d per lb for East Kent sorts of last season. Old hops are in excess, and difficult to place. Malt, duty paid (duty 6d per bushel)— The stocks of this grain are becoming more manngable j prices have in consequence improved. Sales are reported at 10a to 10a 6d per bshl. Oils, duty paid (duty 6d per gal)— Kerosene — several largo parcels have arrived from Melbourne during tho month, nnd sales are reported at 2a lid per gal. Paint oils, in demand at payable rates. Oilmen's Stores, duty paid (duty, 2s 6d per foot)— Market fully Bupplied with every des«

oription of oilmen's stores ; tho trade is, how* ever, excessively dull, and sales are mostly made for reshipment to the outports. Bice, duty paid (duty, 2a per cwt) — Stocks. Patna quoted at 28s per cwt for small bags. Salt (free)— Full stocks. Fine dairy salt is worth 90a per ton ; coarse do, 70s to 75s per ton. Spirits, in bond (duty, 12s per gallon)— We report little business in brandies during the month, with no alteration in current rates ; 7s 6d to 7s 9d per gallon for Hennessy's and Marteli's, in quarters ; case, 28a to 81s per case. In other spirits there is literally nothing doing worthy of comment, and last month's quotations aro unaltered. Sugar, in bond (duty Id per lb) — Trade has been dull during the month, and limited to actual requirements, prices of Melbourne Sugar Company's sorts showing little variation ; IC is quoted at £49 to £50 per ton ; C, £45 to £46, and V, £39 10a per ton ; stocks moderate, and kept up by the regular shipments per steamers ; crushed loaf, £57 to £58 per ton. Tea, in bond (duty Is per lb)! — Several parcels of tho new season's teas have reached us from Melbourne, and the arrival of a shipment direct is daily looked for. Good quality teas are scarce, and little difficulty will be found in placing a moderate cargo. Tobacco, in bond (duty 2s 6d per lb)— Our market remains exceedingly duil in respect of this import. Stocks aro not in excess, but salea are so restricted to small lois that prices remain at former quotations, which may bo considered fair value. Cigars, in bond (duty 5s per lb)— Little enquiry ; no business doing. Manilla cheroots No. 2 are quoted at 69a per m ; Havaunah shaped do, 68s to 72s per m. Wines, in bond (duty 4s per gallon)— Uaual amount of business; mostly for low priced inferior wines. First-class ports and sherries aro acarop, but our demand is limited. NEW ZEALAND PRODUCE. Wool— A large advancs on last year's prices has been realised at the opening Bales of of this season at Melbourne, where several clips, which last year realised 7d to B£d, wore placed at 10i to Is. This advance haa been caused by the presence of American buyers, who save thereby tho 10 per cent extra duty which under the American tariff is levftd on wool imported from the Atlantic side of the Capo of G-ood Hope, and extra freight, &c. This will doubtless lead to a corresponding advance in New Zealand greasy wools, which will bo sent to the same favorable market. Butter — The new season's cure is worth 6£d to 7d per lb for shipment to San Francisco, but there is still a large stock of old butter on hand, which it behoves shippers to look carefully after lest it be palmed off on them to the detriment of their new trade. Cheese — Overstocked. Port Cooper and Akaroa cheese quoted at 5Jd to 6d. Sales difficult. Bacon and Hams — The same remark applies. Real good, first-class cured, is selling at6d per lb. ' Tallow— Mutton from £30 to £33 per ton 5 mixed, from £29 to £32 per ton.