COMMERCIAL.

Auckland Star, Volume XXII, Issue 251, 22 October 1891, Page 4

COMMERCIAL.

Evening Star Office, Auckland, Thursday. Business has been exceptionally dull during the past week, and consequently complaints are heard from all sides. Two trade sales were advertised, but failed for lack of buyers. Distributors are, however, hoping for an improvement in the state of affairs as the Christmas season approches. Meanwhile the general report from wholeBale houses is ' that trade is extraordinarily quiet. Consequently there are no large transactions t;o report. A similar dulness exists''on the Exchange, Btocks being offered at prices which a short time ago would have been considered ridiculously low. Now, however, share* fail to find purchasers ab what would be called reasonable rate?. Advices from Australia also report a similar depreciation in stocks. Turning from this somewhat gruesome picture to tho country itself, the silver lining is seen to the dark cloud. An increased area of land lias been placed under cultivation this year, and so far, the weather has been all that could be desired. Tho coming fruit season also bids fair to be a good on*, as the trees have been heavily laden with bloom, and there has up to the present been almost an absence of those heavy winds and hailstorms which at times dissipate tho hopes of the orchardist. It is also pleasing to note that the trade in flour is at present; very brisk.' Freezing carcases commenced this week in readiness to export shortly, and shipments of butter are also being prepared with a similar object. Bank Bates.— Exchange on London:— Buying: Demand, & per cent, discount; 30 days, § per cent, discount; 60 day?, § per cent, discount; 90 days, 1J per cenb. discount. Selling : Demand, 1§ percent, premium; 30 days, percent, premium ; GO days, § per cent, premium ; 90 days, g per cenf. premium. Fixed deposits : iliree months, 3 per cent. ; 6 months, 4 per cent.; 12 months, 5 per cent. . TonAGOO. —The Derby brand is still in short supply, and a brisk domand continues notwithstanding the advance in price. Oilmen's Storks.—The various lines are all fairly well stocked. No iransactions worth recording aro reported during the past week. Jute Goods. —The market at Calcutta is reported easier, in consequence of a lack of orders. . Tea.—A change appears to bo taking place in tho tea market, as China

teas may now bo purchased hero" at leas rates than the Indian article. The reverse appears to be the case in Sydney, as Indian tea is offered there cheaper than it has been since the displacement of the Chinese.

Dkibd Fruits.—Sultanas have advanced in London Is 6d per ewt. The first shipments of new season's fruit have been found anything but satisfactory at Home. Owing to apprehensions of rain, the fruit was hurried off the drying ground. The latter cutting should be batter, a? the weather was more propitious. From Patras comes the news that, generally speaking, the quality of this year's fruit will not equal that of last season. During the past sveek American dried fruits havo been selling freely in Auckland. These now include apples, peaches, plums, and apricots, which aie offered at from 9d to 10d per lb retail.

Puce.—The market for is reported firmer in Sydney owing to tlie advance in prices at Singapore. A consignment of rice was offered ab auction this week here, but failed to secure purchasers. It is, however, being disposed of privately at about £20 duty paid.

Scoar.—The market in Sydney is reported firmer for this article. A drop of Gs is reported in Gorman beet sugar in England. With reference to the Queensland sugar crop, the Brisbane " Courier" states : " During the quarter ended September the export from Mackay was 6,451 tons, 940 tons of which was coastwise. The value of the total export was set down at £105,304. For the corresponding period of last year the export was 5,438 tons, of the value of £93,369. It will thus be seen that the export during the quarter ended was over 1,000 tons above that of the corresponding period of ]BDO. The export from Bundaberg to places beyond the colony for the quarter ended September 30th was 4,522 tons, valued at £78,778. The Logan and Pimpama sugars are turning ont well, though the quantity is too small to seriously affect the statistical position of the market. The density of the cane is good, and the crops look better than those recently seen at Bundaberg. The centralmill system, as tried by a private company at Yatala, has been of very great benefit to the farmers, and there is now an agitation for mills ao Nerangr and the Upper Logan. Of the statistical position nothing really definito can be aaid at present, as everything depends on the weather ; but some experienced operators in sugar anticipate a shortage as compared with last year's yield of about 20,000 tons. The exporb so far this season has been large, and it is not unlikely that t'ue present month will ccc a little speculation." Salt.—This article ie cheaper in Sydney, t quotations being—Liverpool coarse, 70s ; Black Horse, 75.-3 ; bed rock, 75s to 803 ; white, 755.

Malt,—A parcel of New Zealand malt realised 03 3d in Sydney.

LiMEJUiCE. —There have bsen heavy arrivals of lirnejuice lately so that the market is now well supplied. The demand has not yet set in, as it is rather early. Another month should see good business in this article. Cleaned juice is being offered at Iβ 10d.

Desiccated Cocoanut.— This article is now meeting with ready sale. During the week prices have fallen considerably, parcels having changed hands as low as 5d per lb, showing a decline of 2d on previous rates.

Flax.—Business still remains quiet, and bub little dressed flax ia being sent in by millers, who are evidontly awaitiug better prices. Oats. —Largo consignments arrived here within the last few days, and were placed at from Is lid to Is lljrt, c.i.f. _ From Dunerlin we learn by wire :—No animation pervading the market. Two stoamora being on'the berth for Sydney this week, no doubt caused a few sales to _be effected, but at prices showing no improvement; in fact, shippers dnclino >;o operate except at the reduced price*, and are now being euppliod to a considerable extent by fresh consignments from the country, sellers preferring ,to accept the.beat offer oft trucks rather than incur any store charges. -Lobs stores, however, are being held for the prices ruling earlier, although it is very questionable if any advance can bs secured. Quofcations are :—For besD feed and milling, Is 6d to Is 6M ; medium to pood, Is 5d fco la 6d ; inferior to medium, Is 4d (ex store, sacks extra, net cash), 2d v more per bushel at Duneclin. A consignment of 9,830 sacks of oats arrived hero by the Te Kapo yesterday. i J oTATorcs.—Old potatoes are almost quite run out with a brisk demand for small quantities. £2 10s to £2 15a can readily be crofc, bub the result of anything like a quantity ooming into tho market would be an immediate collapse in values. New potatoes are nosy coming in in decent quantities and passing off readily for export and local consumption at £6 10s to £7. A consignment of 234 sacks of old potatoes arrived by the Tβ Kapo yesterday afternoon. Maizk moves in ordinary course. VV holesale linos, Is lid on wharf ; 2s 3d_ retail quantities. Seed maize has been in demand during the past week. Flour.—There is nothing new to report. Good business ia passing, and prices are now nearer the full rate reached at last advance. Another week should see all transactions at present) market figures, though stray orders may be taken by merchants at " half advance."

Bran is in fair demand at previous quotations. Sharps are nob selling quite so freely, owing to there being plenty of feed in the country.

Wiikat.--There is little further change in the situation beyond what we have denoted for the last fortnight. The San Francisco •'Chronicle "•-draws attention to the fact that the underwriters in New York aro considering their position, owing to the extraordinary number of bottoms called in from all available sources to transport wheat boughbin the Statesfor freighting to the Continent. The rush for vessels results in a number of craft being offered that are in risk out of all proportion to the current rates of insurance, and steps are being taken to " make the punishment fit the crime," in othor words to regulate the premium to the risk. In this connection it is worth notice to compare the export of wheat from America to France, for the periods of August lso to September 15th, of last and the present year. Tho amountentered for export to France for the former period was 252.3:34 centals, for the latter 2.254.200 centals, or ten times as much for the same period this as last year. Tho English and Australian markets are nob quite so stiff this week, but in the South prices are a little firmer owing to a prevailing belief that there is not too much wheat in tho country to tide over until the next harvest is ready for the mills. Local wheat is almost out of.the market. Several large lines of wheat are now on the way for the Northern Mills. The prospects of the Victorian harvest have improved in consequence of recent rains. A good demand continues here for fowl wheat. A consignment of 1,276 sacks of milling wheat, arrived yesterday by the Te Kapo.

Cheese. —Good new cheese is very scarce at nresenb, and a piime article fetches a cood price. Small sizes for Island orders have been difficult to obtain. Butter. —Bakers and others are now buying freely for potting down, the coneequenco being that really good butter la not quite so plentiful, though prices remain about the same. Eogs. —The advance we anticipated last week haa taken place, 7d to 8d being asked wholof ale and Sd to 9d retail. Largo orders for ogge have been roceived from tho South recently. Bacon andHasis. —A somewhat improved inquiry exists fer hams and bacon.