COMMERCIAL.

Auckland Star, Volume XXIII, Issue 35, 11 February 1892, Page 2

COMMERCIAL.

Evening Star Office. Auckland, Thursday. '■Business has been quiet, during the past week, although some distributors report an 1 Improvement upon the previous month's transactions. No trade sales have been held, nor have any large lines changed hands privately. The timber trade continues very dull, and the prices ottered for flax preclude any business being done at a profib. Property sale 3 are less frequent, though a fair demand exists for land in the country for settlement. The farmers have been favoured with excellent weather for harvesting, and now genial rama are setting in, jusb when wanted to get the ground ■ready for autumn sowing. The fruit crop has been a heavy one, generally Bpeaking, and the result is that tho prices realised at auction scarcely pay growers who aro close at hand, while those at a who have to pay much freights, .must) inevitably lose upon consignments. The present season is an instance when fruic evaporation might be made serviceable as a means of relieving a glutted ■market. Samples of dried fruic from the Slildura Irrigation Fruit Colony are now on exhibition in this city, and are worthy the attention of growers at a distance from a market. With repaid to the Exchange, lixi is hard to find words suitable to give an ,'idoa of how dull business is ab present". There appears to be almost an entire absence of buyers, with tho result that 't)ib by bit sellers aro coming down, until •raining stock ia ottered at rates that a little whilo ago would have been con jsidered ridiculous. As usual, there is talk ,oi amalgamations, and schemes to work the Jdeep levels, which will no doubt continue ftiutil another spurt commences. A similar -'lack of buyer 3is noticeable in connection >\vith bank, insurance and other stock. Bank Kates.—Exchange on London. 'Buying: Demand, £ per cent, discount; >30 days, g per cent, discount.; GO days, g •per cenb. discount; 90 days, 1J per cent, Selling : Demand, lg per cent. •premium; 30 days, 1J per cent}, proJmium; 60 days, g per cent, premium; ■ i9O days, 3 per cent, premium. Fixed de- : Three month?, 3 per cent. ; six 4 per cent. ; twelve months, 5 per

/'cent. • Flax.—£ls to £15 10s per ton is about • iVthe ruling price for flax at present, bub ;.; little busine33 is doing at such low rates. aDuring the week the Lottie Moore sailed :Wifch 283 tons of flax, and the Flora took \enobher 200 tons. '?•• Sugar. — With regard to the sugar ,('jnarkeb the Brisbane "Courier" states: '.|*'lb is believed that; the next crop will be j ■ flata, and thab circumstances will give a jjittle hope to holders." Tho quantity of -:Bugar exported from Queennland from tho ;,20bh of Juno, 1891, to December 31st, was i' 28,669 tons. » ■'. Rice.—The upward tendency has been ■;.to some extent chocked by the low rates of now ruling in tho East, where a ilfreighb war is at prosenb proceeding. Values Sphere are ab present unchanged. [% Tobacco.—Each advancoin price seems increase the domand for Derby brand. w Kerosene.—Although tho market is still >Tvell stocked, still prices are firming, in 'consequence of the freight war in America fhaving ended. " Light; of tho Ago " brand "is ab present commanding attention locally. Dried Fruits.—Currants, elomes and ;eulbanas are a little easier. Salmon. —Alaska salmon is in good de;mand and Columbia sell freely ab the advanced figure. Concerning the salmon -trade, Messrs J. J. Williams, of San Francisco, report:—"lt ia understood thab an has been arrived at to curtail the Alaska pack to one-half that of 1891, -. Veay 350,000 cases. Only nine canneries are tjfto operate,and bhe whole producb is to be pub Sunder bhe control of the Association and ViiCannob be sold below their prices. If into effect, a riae must follow. 1 Codfish.—A consignment arrived by the JMonowai, and is going rapidly into conleumpbion, A better demand for fish of all ;?Jrinds may be expected as Lent approaches. ,'" Fencing Wire.—Both barbed and plain ■ 'are selling ab low rates plain being offered Ub £12 10s and £13 for Nos, 6 and 8; ibarbed wire (pig), £23. Stocks of No. 7 4plain wire seem to be depleted ab present k BdtteE and Eggs.—Eggs are coming in ■ fonore freely, and price 3 have fallen in con- ". eequence. A rise must, however, take *place shortly, as the demand for eggs will Mncrease during Lenb. Butter remains "aboub bho same, as far as supply is conieerned. A good demand exists for keg ■butter ab Bd. '£• Grass Seed.—Tho new crop is now being ioffered freely. Farmers' undressed is very idifficulb to place excepting ab very low ■; rates. There is an absence of last year's demand for grass seeds. '■: Wheat.—The market ab Home is fluctuating somewhat, but in America ib remains In New Zealand it is estimated Ithab bhere has nob been such a large crop lot wheab since 1883. Rust has been troublesome in bhe South, but the North • jihas not suffered to any great extent. Crops are now prebtv well harvested. Maize.— The markeb remains quieb, pre•eenb prices being really unremunerativo to The tariff in New South Wales i>is, no doubb, the main causa of this atabe of * affairs. Maize-growers talk of going into f wheab next season. " Parcels on wharf are a / ehade down; Is 9d is nominal quotation. /Good lines could likely be bought a shade iless. '■''' Flour.—Mills in the South are at a ■ ''Btandsfcill, pending the reduction of present ~!; Stocks. The decline in price has nob increased sales. ;,; Cheese.—No change in values to bo recorded in cheese. Supplies are steady and iample for requirements. Lard.—Scarce, and a shade firmer. Flour Market.—Best rollers are quoted :'; v from £12 to £12 sa. Very small business '.passing. . I 'Bran and Sharps.—Few inquiries ab hsb f prices. • Oats.—Business quiet. Buyers look for lower rates, while Soubhern advices reporb a good Australian business which keeps prices ■ pretby firm, ab any rate for the time being. A slight reduction is, however, likely, and local trade is being done at aboub Id decline on pasb prices. Stocks of old oats are gebting short, consequently bhe new crop will arrive to a comparatively bare markeb. There is not co large an area under oats this year, bub this to a corbain ■extenb is compensated by bho facb that tthe crop is a particularly heavy one. .Wβ learn by telegraph from Dunodin a moderate demand for best bright, and full lines, bub bo induce buyers to purchase medium quality lower prices have to bo .accepted compared with those current lately. no demand for export «f any consequence, and buyers will nob purchase excopt when they have orders on hand. The week opened with bad weather. Crops, whether standing or in stook, are bound to suffer ; the Taieri Plain especially has suffered. Farmers will be heavy losers. No alteration on laeb week's quotations, Tiz. :—For best milling, Is 6d to Is 7id ; best bright feed, ls-6-Jd to Is 2d ; medium, In 54d to Is 6d ; inferior, Is 2d to Is (ex Btoro); sacks extra, id per bushel more f.o.b. Dunedin. Fowl Wheat.—ln short supply. The want is nob felt keenly, as maize ab its preBent price is becoming a substitute. Potatoes. —Best samplos Hobarts, £3 15s to £4.