COMMERCIAL.

Globe, Volume IV, Issue 307, 7 June 1875, Page 2

COMMERCIAL.

Melbourne.— I The “Argus” of the 29th ult. reportln the import markets business has been yery quiet, and transactions not of much account. Trade sales to a very moderate extent only reported, the utmost difficulty being experienced in Betting the larger buyers to operate. Flour is k steady at our quotations of £lO 17s 6d to £ll, but no special sales have reached us. Wheat is very saleable, but business is restricted by the paucity of supplies on the market. Anything offered meets with a ready sale; 450 bags were placed this forenoon at 6s 2sd. Oats are moving off in fair parcels. We hear of a line of 800 bags good stout milling having been taken up at 4s Id. Candles are much inquired for, and 10|d has been offering freely all day. Kerosene oil continues to meet with a good deal of favor. We hear of a line of 2000 cases of diamond oil having changed hands at a very full price. Teas have not been marked by much activity. By the Brisbane, the Torres Straits mail steamer, which has just arrived, the first shipment Of the new season’s teas has come forward, 5000 fackages new “Teng-ping Foo” congou, season 875-76, being on board, consigned to Messrs F. W. • Prell and Co. This shipment is worthy of note as being the earliest arrival of new teas which has ever reached the colony. An equal quantity of these teas was at the same time sent forward to London. Samples will be on view on Monday at the rooms of the broker, Mr J. Everard. Caustic soda is improving in value; 60 per cent. o.p. has been sold at £l6 10s ; but sales have also been made at up to £lB, and some holders ask even more money. Trade sales of i’atna rice are reported up to £l7 15s, la bond. Henuessy’s case brandy meets with attention. Sales to arrive are now making at 82s, an improvement on previous transactions: •ENGLISH COMMERCIAL. THE MONEY MARKET. Mr Westgarth reports on April 16th; During the four weeks since my last circular, there has been extremely little change in any of the Government Stocks. The tfvo longer terms New South Wales, have lost i per cent. Victoria fives, at 108-0, have gained $, and the sixes 1891, at 116-7, have lost the like value, while the fours, at 92-3, have gained } per cent. Queensland tours, at 91-2, have gained J per cent, while the other stocks, and all the South Australian and Tasmanian, are as before quoted. In New Zealand stocks, besides the rise of \ in the ncw.'-Q per cents already alluded to, the old fives, due 1914, at 103-5, are 1 per cent higher, and the Consolidated fives, at 103-4 x.c., •hew the same advance. The sixes of June and December, at 113-5, shew also X per cent rise, but those of March and September, at XH-4, shew 4 per cent tall. The various Provincial (guaranteed) sixes are as before quoted. New Zealand Four Million 4i per Cent.—This stock is still unquoted, butprobably after Ist August, when It becomes identical with the previous 4$ per cents the quotation will be granted. At present the new stock differs in carrying only a five months’ current coupon instead of six. Transactions, however, have been considerable of late, the large amount of the newer loan occupying the market to the exclusion of the other. The price, at about 93j to 935, fully paid up, has recovered about J per cent during the month. It is understood that the loan has been very largely paid up—to the extent of upwards of one-hali—under the discount inducement Offered at the rate of 5 per cent. Auckland and Dunedin City 6 per Cents.—These small loans have been so eagerly sought after, that their prices have still further risen, the first to 104$, the other to 104. Municipal securities have oertgtoly beta neglected and much undervalued her#

for nearly twenty years past, upon remembrance, apparently, of the solitary and temporary breakdown in the notorious case ot Hamilton, Canada. The demand for the' above sixes and the Brisbane five per cents, seems the natural reaction from this excess of caution. Christchurch 6 per Cents. —The Bank of New Zealand often d lately a portion of a small loan of £35,0000t this thriving city, the capital of Canterbury, New Zealand. The stock is due 1924, the interest Ist April and Ist October, and the price 02 plus accrued interest, at which it was soon taken up. WOOL "Messrs Miles and Co. report on April 16th: — \Vi. have little to add to our last report respecting the wool market, which has been quiet, although there has been some demand for Capes for export, chiefly clothing sorts. With respect to prices in May we think much will depend upon the quantity to be brought forward, which is, however, not expected to be quite so large as was anticipated; but the shipments afloat are considerable, and should the arrivals be very heavy we can scarcely hope that present rates will be fully maintained. Manufacturers are working full time, but they complain of unremunerative returns. The quantities comprise : Arrived. Now afloat. Bales. Bales. Sydney 25,271 ... 44,912 Port Philip 69,570 ... 71,254 Van Diemen’s Land... 2,605 ... 9,268 Adelaide 29,243 ... 22,153 Swan River 3,199 ... 2,304 New Zealand 9,479 ... 60,718 Cap* of Good Hope... 23,264 ... 7,933 162,531 .. 218,542 WHEAT AND FLOUR. Messrs Miles and Co report:—The market for wheat has been very steady during the last ten days, and as the arrivals of grain cargoes have been limited, they have been readily taken at full prices, white wheats from California having realised from 45s to 46s 6d, and from Oregon 47s 6d per 500 lbs ; butwhen the large shipments from the first-named port arrive, these prices will probably give way to some extent. The market is bare of Australian wheat, but it is worth 50s per 496 lbs, aud New Zealand from 46s to 48s, and we do not look for any great alterations in prices up to the time of our harvest. New Zealand flour may be quoted at 26s to 29s per 280 lbs. Messrs Burrows and Perks say:—“There have been no grain arrivals from the colonies during the month, with the exception of a small parcel of wheat in the Berean, from Launceston, but the first shipments of the new crop will be due here in about seven or eight weeks’ time. We can repeat our last month’s quotations of 49s to 50s for Adelaide wheat, aud from 46s to 49s for Tasmanian and New Zealand, all per 4961 b ex store here. Superfine Adelaide flour would bring readily 33s to 34s ; fine, 29s to 31s; households, 27s 6d to 295; and New Zealand, 27s to 30s, all per 2801 b nett ex store here.” TALLOW AND HIDES. Messrs Miles and Co report:—There has been a firmer feeling in the tallow market, and during the last week prices have advanced 9d to Is per cwt, with an improved demand. Hides continue flat. NEW ZEALAND HEMP. Messrs Miles and Co report:—There has been a better inquiry lately for this fibre, owing to the reports of short shipments from Manilla, but importers are holding for better prices. PRESERVED MEATS. The Australian Meat Agency (Tallerman’s) Co, Limited, report There has been but little doing in preserved meats during the past month, and In the face of increased imports prices have, to some extent, given way from |d to Id per lb. The imports, since the departure of last mail, have been : —From Australia and New Zealand, 14,534 cases; from America and other ports, 7325 ; total, Messrs Miles and Co report:— I There has been very .little business doing in preserved meats, and in consequence of an increase in the importations prices are rather weaker.