COMMERCIAL.

Auckland Star, Volume XXII, Issue 239, 8 October 1891, Page 4

COMMERCIAL.

i,-. _' •;;''. s_?SSK«i Star Office, , Thursday. %%kw has been restricted to small trans-

«-jtion. during the. past month, complainb 3 ( - «t general dulness being received from all • \ t*t* : , 0wi "S '° large.arrivals the market 1 !? „" we [ l Bt «oked, and although busi--1 T.U- &% "J 88 ?' slack, it is .4 gratifying to know the trade that has ■ ,i been done is on a sounder basis. Failures ;| appear to- be - a -thing of the past, / blub competition is still very keen, with ... the natural result thab business is too * S qU6n^ y nsac * ed ab | rates. Nowthat tho genial days of spring % £r e f ?. mv , ed _ £ ißtributora feok forward f hopefully fort better business. In the * country districts everything looks favourv able, and a splendid season rimy be exJ -, pected, as larger areas of ground-have been ■;' P" b ™ d ? r cultivation, while the iorospects of the fruib crop are all thab ciould be trade',which

was dullat the commencement of the month, has now recovered, and renewed activity in the flax market is all thab ia wantod bo make things go along merrily again. On tho Exchange speculation appears to be aboub dead, the heavy depreciation in Australian stocks having- been followed by low prices here. Bank and insurance stocks have scarcely beon inquired for, while mining stocks have fallen in spite of bho facb bhab, baken as a whole, bhe crushings for bho month havo been more satisfactory. With the advent of the now month, however, a blight improvemenb has sot in, which it is sincerely to bo hoped will go on increasing, as dry weabhor will enable bhe outside mines to forward ore bo the batteries. The increased rate of interest on fixed deposits has caused an influx of money to tho banks from those who do not care to risk investments.

Bank Hates.— Exchange on London : — Buying: Demand, J por cent, discount; 30 days, h por cent, discount; GO days, § por cenb. discount ; 90 days, 1-Jd per cenb. discount. Selling : Domand, lg per cent, premium ; 30 days, 1J- por cont. premium ; 60 days, g per cenb. premium ; 90 days, j} per cent, premium. Fixed deposits : Three months, 3 per cenb. ; 6 months, 4 percent. ; 12 months, 5 per cenb.

Groceries and Oilmen's Storks.—Owing to the business being restricted to small lines, no transactions of importanco aro reported. All liuos seoih iv fairly good supply. Coffjse.—Advices from Ceylon state thab the quantity of coffee produced this year is likely to be less than tho return for some years past. This is owing not only to the leaf disease, bub also to tho fact that tea is now grown on many plantations thab were formerly devoted to the culture of coffee. The consumption hero, however, not being large, prices have not beon affected. Coiiee is quoted ab from Is Id to Is 2d in bond, according bo quality. Pepper. — Cable-graphic advices from Singapore report an advance in tho price of peppers. Notwithstanding this, prices remain lower here for bhis stuplo than they have been for some years.

Rice.—There ia every probability of tho market for this commodity being affected by the recent rise in prices in tho East. Stocks hero are, however, large, and the advance will nob be felt until thoy have been reduced. Shipments to arrive will undoubtedly be at tho advanced rates, therefore a rise muab take place locally sooner or later.

Sago and Tapioca.—Prices for these articles havo evidently touched the bottom, and an advance may be expected in tho near future, as tho rates recently ruling for all Eastern goods have been exceptionally favourable for buyers. A change in this state of affairs may, however, be considered imminent.

Teas.—Prices continue somewhat low. A slight demand is reported for packet teas, and high-priced China tea in boxes. During tho past week several lines of tea were sold by auction, ab about the usual rates. '

Liquors.—Nob much trade has been dono lately iv wines, but as the dry weather sets in probably businoss will improve in liquors generally, bub it ia evident, thab low rates musb be expected. Tennarib's and Truman Hanbury Company's quart ales are quoted ab from 10s to lis per dozen for quarts. A little trade is also reported in Teacher's Highland Cream, and Usher's whisky. Kerosene. — The market continues glutted, and owing to tho approach of summer ib ia almost impossible to place wholesale parcels except at considerable concessions.

Jute Goons.—-News from Calcutta is to bhe eflecb thab there will bo a deficiency of aboub one-bhird in the jute crop this year, and an advance of 9d per dozen has taken placo in the price of cornsacka in that city within the last few months.

Fungus.—Thero appears to boa falling off in China of the demand for this article. Shipments havo been forced on the market, which caused a fall, bub a brisker demand is bow reported, bub ab rates which aro somewhat discouraging. Owing to difficulty in effecting satisfactory sales in China, buyers here are not eager, tho price C.fiered being from 2d to 2sd per lb. IT/jAX.—Thero is no improvement to reporb in bhis article. Several makers have closed their mills during the lasb fortnight, and others will follow suit shortly, unleea orders ab reasonable rato3 come to hand. Good fair average has been boughb ab £15, but only a small ciuantifcy is coming forward, as agents are' recommending millers to stop the production. Frozen Meat. —Local companies commence freezing for export next week. Flour.—As wo anticipated, flour advanced £1 per ton during tho week, the price for besb roller flour being £13 10s, and second qualities 10s per ton less than last quotation. Large deliveries took place ab the old rates for the first of tho month, and there has been a fair demand since ab the advanced price. Oats.-—Business is quiet in this cereal, and we learn by telegraph from Dunedin that tbe market lacks animation, tho business passing being only to a very moderate extent, the prices ruling earlier in the season not now obtainable. Speculation is apparently languishing, buyers manifesting no keen desire to operate except extent of actual requirements. No doubt a, good deal more business could be done if sellers were disposed to quit, at prices that would enable shippers to operate for export. Quotations : For best feed and milling, Is 6d to Is 64d; medium to good, Is to Is 6d ; inferior to medium, Is to Is 4d (ex store); sacks, extra net cash, -%d more, f.0.b., Dunedin. , Butter. —A decline in price has taken place in this article owing to the largo supplies now coming in. Butter has been retailed during the week at from Gd to Sd per lb. A3 such prices do not satisfy tho producer, many farmers have wisely commenced bo pot down for next winter, others havo gone into cheese-making, and as the dairies are doing likewise, a rise may be exyjected before long. 1 Cheese. — New cheese is now on the market, realising 4d to 4£d at auction.

Bacon and Hasis. —No change to report,

Eggs.—Although prices continue low, still the supply is scarcely equal to the demand at presenb. Large quanbities of eggs are coming in, but they go rapidly into consumption. Ab present the retail pries is aboub 7d per doz. Wheat,----A little excitement has occurred during the past week in the Southern grain raarkab owing bo news from Europe, Advices report large buying ab 4s 7id bo 4s 8d (sacks ex bra) tor prime milling on tho part of some of the large mills. Local wheat is a little dearer, realising from 4s gd to 4s 6d, while Southern wheat is quoted at from 4s 6d to 5s for prime samples. Large deliveries of wheat have arrived from the South within tbe last few days. The Industry broughb 700 tons for the Northern Roller Mills. It speaks well for the landing facilities of this port that the whole lot was disembarked and cavtod to bhe mill with 12 hours' work. Fowl wheat is in good demand, considering the presenb price of maize. Holders ask 3s lOd per bushel, sack? included. Bbas and Suakts are not much inquired for, as ia usual aboub this time of the year. Maize is weaker ; 2s and a shadp less is the price wholesale on wharf. Potatoes, low price current last week has drawn the attention of stock and dairy mon to potatoes as the cheapest feed, and noarly all stocks have gone into consumption, resulting in a temporary recovery. Tho available supply of goodcondition samples is extremely small, and must remain so till Monday's steamer, when in all probability a recurrence to last week's figures will be seen. 37s 6d is being obtained ab the momenb.

Shipping and Freights.—-Thepast month

has nob beon a conspicuously busy one in Auckland shipping circles ; on tho contrary, the whole shipping business of the port, both as concerns the intercolonial and the coastal trade, has been dull and sluggish. Freights are low, and there is not much prospect of any great improvement taking place jusb yeb. The timber exporb trade is slack, and freights in this line have fallen of late. We quoto to-day the ruling timber rates as follows :—East Coast porbs to Sydney, 2s per 100 f t; West Coast, to Sydney, 2s 6d ; East Coasb to Adelaide, 4s 3d ; Auckland to Southern ports, 2s 6d ; to Oaraaru and Timaru, 2s 9d. In our direct trade with London and New York things are little changed. The barque Himalaya and s.e. Tekoa have arrived during the month from London direct, with valuable part cargoes, the balance being for the South. The briganbine Emma L. Shaw has been despatched for Now York direct with a full freighting of kauri gum and flax, 'some 900 tons in all, while the barque B. Wcbstor is loading for tho same port, with the Star of the East to follow. The barque Helen Denny is now on the local loading borth for London, with tho ship Waibangi to follow. The South Sea Island trade is still maintained ab ibs usual sbandard by tho regular stoamors Ovalau, Wainui, and Richmond. The latest Island fruit shipment to hand is thab of tho Jessie Niccol, which arrived ab date, orange-laden, from Rarotonga. A fairly large number of sailing colliers from New South Walos have arrived during tbe past few days.