COMMERCIAL.

Auckland Star, Volume XXIII, Issue 142, 16 June 1892, Page 2

COMMERCIAL.

Evening Stak Office,

Auckland, Thursday.

'X)ttbing the past month business, has.bee 11 I'Bomewhab quieb on the whole, though no--■'thinghas occurred of a nature calculated to disturb commercial, equilibrium. Trade is eteady,. though the volume is not large, .'and it is gratifying that bankruptcies arid '^compositionsare not of frequent occurrence. /Shipping business is undeniably dull,.:three ■cargo-Bteamera having left port; almost /empty, while several sailing vessels have t anerely'gbne away in ballast. .During the past week the Taravverai Oreti and Taupo ■arrived here with large cargoes of from the South,, principally VfiraW Valuable cargoes of flax and have been despatched to; New Ybrk %ithin the past few weeks, in fact " during the month high prices have been maintained .;;for; kauri gum, and large enppliea have been received. An evidence. that times have improved is shown in the 'fact that there have not been any meetings -'of unemployed in Auckland so far ; this winter. Ab it has not been the practice to Bfcarb the unemployed cry in Auckland in .'order to secure the expenditure of public "'money in the district, the-'state, of the labour market is more to be depended upon J ••* as an evidence of improved times generally. .The building trade is slack, consequently *the timber industry is nob very flourishing. An absence of foreign orders for flax has also somewhat checked the operations of the (mills, pending better prices. In the 'country matters-' generally are flourishipg. The settlementi of the land is proceeding rapidly, and the eagerness'of the applicants for sections in the new. settlements ab Ohura shows thab many people are now turning their attention to the land as a Bure source of maintenance. High prices are now being obtained for a good many ■ produce lines, while there remains a large 1 inarkeb ab Home for butter and cheese. The United Kingdom annually imports butter and cheese to the value of £16,406,550, so that there is ah ample field open_ to settlers wherever factories can be established. The cxportsduring the pastseasbn appear to have somewhab denuded the colonial market, i judging from the high prices now paid for both butter-and cheese. The satisfactory | returns from sheep and cattle lately have i also had the effect of turning the attention of farmers towards grazing. Nor is cropping neglected, for ib ie stated that much j larger areas are being pub down in winter j wheab this season..-.. . . ' Business on the Exchange has riot been brisk during the month, although there have been one or two flutters, which seem to presage a revival ia mining. -Few transactions of importance have taken place in bank, insurance, and mercantile stock. In mining matters, the Upper Thames stock has shown an advancing tendency. Crown shares have risen until _9s is offered, with no sellers under' 10s; Woodstock and Silvertori also moved upward, bub Waihis receded notwithstanding dnexcellenb crushing that returned £5,000 of bullion for four weeks; At the Thames, stocks have about reached bed rock, and dne or two miners have manifested an upWar,d tendency within the lasb; few days. ■ The old Cambria mine appears to be coining to the front again, and" inquiries have been Sequent latterly, with the result that the- \ puce has advanced. Moanataiari, shares '"■art firmer, as the last crushings'have'done; TOOiethan pay. expenses. Yesterdajr.after-; !aoo\ the Hazelbank secured a haul1 of 301b # pi«ked stone which it is to be hoped is an: e^heW of more to follow. AbCKuabtunu' inoce. \atisfactory accounts. are received froia amoral of the mines, and at Wbanga-j poua, aSimart advance occurred in Gwera ~T~riShare'^Roping to- the" new battery having ..._ .commv^cei-vj-qrk. - - - -'-- .' -—^In.fhto is reported tight aid foe'deposits in* the banks are; Bteadily iipreising. This may be accounted an evidenoi of reluctance to. invest in industries.;, y ihoild the decline in the rate of interest in Auitralia be- followed by' a Similar one hifeAibis not improbable that; the result wo*^\d be to force money back? again into the^dWelopment of legitiniateJndustries. r Fr6pa\Onehunga comes -the welcome iritelligenie that the' ironwork's; 'bas re-commenced^jjgrations. •,'*.-' y J. Bank Rates.—Ex^iange ton London :~; Buying: Demand,\p|i; 30 tlays,<;j' per cent, discount; 60 d^ys,>f per' Cent.' disi' count; ■90 iJays^ l^te. eerie; discount. - Selling: Demand, If pW cent, premium - 30 days, 1J per cent, 'premium; 66 days/ | per cent, premium ; 90 days, \ pericenfcpremium.' Fixed depdsitsVThreeuionthsj' '3'per cent. ;six months, 4 pta cent; twelve" months, 5 per cent.; ■ ■ ;;i.\- vi'j ~:-.'-;-!-"iJ'^- ; Tinned ' Fruits are not inuch'^nquired for.; Prices are a little easier. ■; V ■ Dried Fruits;— A. good demand exists for dates/arid figs; ■ : ', ! . ; ■' Pearl Barley. —The market'ia firm, and prices have advanced ; £17 is ;the presehb ,■ rate.'-' v- -V '-• ;■;.-;■;.■.-..• :■,-. v ,-a-,...; ~', V; ..ji • Canned* "Mullet.— Swing's brand is scarce,'arid the Star brand is inquired for at advariced prices. ■;>.:..,-, .;,-,.;.,>■ -|j , Kerosene.—White Rose brand is entirely! out of the; market. The Crescerib is esftj pected , daily with 14.732 cases of ;thft ■' brand.' * ■ • ' ■'•■■ '■ ■ • ; " Flax;— Owing to the rough!; weather! there have been no arrivals of flax froajl the, coast; : Prices remain in the same M\ satisfactory!position. . : t | ' Timber.'—Trade is nob so brisk thil w6ek. Export had ahriosb ceased, as th'er^ is little demand in either Sydney or Melf bourne. f ■ Wheat. —There have been considerably arrivals of wheat-if otri- the East Cbtistf Waikato, arid the Spyth during the weell* Fair "of Waikato arid -.local- , wheat are selling. ab full prices.' Tiff quality thia' year is fully bebter than any > offering' from the South, .'consei' quently: millers are piciking''up all lines tbab are offered; The Southern markets are rather duller this week, owing to the continued weakness in the Hbtna market. Alrnosb every day accounts -frbcS . London indicate a sickly markeb. This is? no doubt, the result of exaggerated feportl of shortage in bhe crop and the Rußßia^ famine last -year having caused. the surplus ; from all countries to dumped into London. Now the reaction has seb in, and- low prices follo-v? asanatural course. Fowl wheat is very plentiful, owing to the large amount of iinmillable wheat in the South, consequently there is difficulty in selling. j n t: quiries are being made for winter wheat for seed,_and it is stated that a much larger area is being put down this year. ;| • Bran and Shares are in short supply; and difficulty is experienced in filling iorders even at the advanced prices. s? Flour^-sjA fair quantity is being d^livered from sales made a" few weeks ago' Southern agents/ reporb a brisk week, i quantity of damaged flour -is also in the markeb owing to cargoes being injured by. salt water on the way up from tM; "Soubhl, ■ !.'■.-' ■■-;•'. .'-,-...,. ,•:-;• v>,'/5»

r Maize.—Fairly heavy arrivals have been received during the week. The Waiap4 brought 560 sacks, and the Waiotahi 940 sacks. Bales are being made at Is lOd on ■, the wharf. ' . s. • * 'Potatoes.—Steady business is beirife done ab 45s and 50s, according to quantity" : 'andsample. • - ' > V ' Oats.—An actual advance of ljd has . :been established. • Besb samples,- shorti ■heavy feed, are ; worth 2s 2d, c.i.f. Tl^; ;tohe of all Southern .markets is firm.- ;'sj Oatmeal}—An-advance of £1 per ton has' 'been made duririg'the week by -Souther^ ■ "millers.1--' ~::' -vi :■■■■::■■. ■•:. Jj-:;.;^;: f'! Cheese in iiauch- the came poßitid|j JViaißle-ijuppUeß-.are.wofuliy short of-prd4 bable demand; 5d is readily obbainableiffc ■ ; best; factory. ■',■:■■.'•'■;".": ■■ '"':'■■' Laed is moving up, supplies short. : ;|K ' v Bacon and Hams,— Big business durins:

tie past three-Weeks has beeriipassing,, arid ath'ough the quantities arriving from Cantsrbury are ; large, the demand is still uniieb. The low prices' ruliDg have helped tie consumption.' Rates are likely :to;be fjced on a higher scale shortly. {Butterr—Besb dairy, and factory, is drinking?in'supplyi ana lb is wibh difficulty I tiat sufficient supplies can be obtained by ffocera. n advance of 2d per lb has taken riaco. Taranaki butter is also scarce, and sills freelf at from Is to Is Id per lb whblesile. G^ salt biibber is exbremely scarce. ■AB'Bhpvmg value of dairy produce, the caairmaf 01 the .Wellington Chariiber, of Common^ has been drawing attention-,'to the fact that the producb of bhe cows in the colony is of more value than the goldfields, though |pc latter, being .exported, makes the bes||how, The figures quoted showed tibafc infß9l : the tobal return from milk, butter.l&d- cheese amounted to £1,441,917, while fe up to March, 1892, only iotalle||Sl,lo4,9Bl. : EGGsJre not very plentiful, though the price re^ainß unchanged.