COMMERCIAL.

Auckland Star, Volume XXIV, Issue 218, 14 September 1893, Page 2

COMMERCIAL.

Evening Star Office. Auckland, Thursday.

Beyond bhe bustle consoquenb upon the arrival and departure of the mail steamers, •he past week has been a quiet one in business circles, and aleo ab the wharf. Renewed web weather has interfered with the operations of the farmers, who ex- ' perience some difficulty in getting in their Orops. This has had the tomporary effect Of lessening the demand for seeds and fbanaroH. This state of things, will, bowever, be rapidly remedied aa soon aa finer weather sets in. Distributors reporb only the usual trade passings since lasb reporb. Country orders have shown a small falling of, ponding the drying up of the roads. In town nearly every other shop window bears posters announcing sales lib " great sacrifice." Ibis, however, worthy of note that a keener demand exists for business premises, and a shop haß to be in a very poor position if it long remains empty. In Karangahape Road every shop is occupied, and quito recently a dwelling-house has been converted into business premises. Without wishing to draw too glowing a picture, it may fairly be argued bhab this is a satisfactory sign. The evidence of increased population may be fonnd in the fact that the burgesa roll of the city never before contained as many namoß aB it does ab present, the number having increased in every ward. It would appear from this facb, that properties have eithor been changing hands, or else leases wore subdivided. Another healthy sign was shown by the keen demand for country landa ab yesterday's auction sale. But a libtle while ago more lots were passed in than were purchased. On this occasion, however, every lob of country land submitted for sale was disposed of, 21 sections being sold in consequence of absentee owners nob having paid rateß for some time past. It was a significant facb that nearly all the lots were either 40 or 60 acre sections. One lot of 80 acres realised ±16. The Island trade continues fairly brisk, every steamer now baking away satisfactory cargoes. Importers are now awaiting the arrival of the Indramayo, which vessel Bhould ba here shortly with about 3,000 tons of general merchandise for this port. Amongab her cargo are several lines of which local supplies are getting somewhat short. A little more building is going on in the city and suburbs, but so far there has nob beon any marked improvement in the timber trade. There is, however, every reason to believe that tho state of the country roads is preventing buildings in the oub districbß, as it is almost impossible to cart timber at present. Fine weather should, therefore, see carpenters fairly brisk, a consummation thab is devoubly to be desired as the prolonged winter has meant much loss of time for outdoor workers. Commerce now-a-days is so strangely interwoven in various lands that no country however distanb can suffer depression without other lands being affected to a certain extent. An instance of fcbis is seen in the presenb condition of our kauri gum and flax exports. Financial difficulties in America caused few orders to bo sent here for these two articles of expnrb. The result has been bhab larger qantities oi kauri gum were thrown on the London market, and prices declined in consequence. The flax trade suffers similarly, there being comparatively few orders in the hands of broken ab the preßenb time. Prices are as o result so low thab few millors are inclined to send in bhe fibre. As we in New Zealand are to a certain extent affected by the condition of Australia, it is gratifying to note thab already a better feeling is prevailing in the sister colony of New South' Wales. The following is taken from tho " Sydney Morning Herald " :— 11 Wool is beginning to come to hand very freoly, the weekly receipts at Darling Harbour recorded in five weeks ending in August, having been 17,605 bales, against only 1,977 bales in four weeks ending in July, Realisation will nob be in full swing until tho commencement of the new season's sales in October next; but the arrival of the wool is an indication of the activity with which the clip is progressing, and an earnest of the substantial assistance which it may bo expected to render to the trade of the colony. Agricultural prospects, are more favourable than usual, the area under crop being unprecedentedly large, and the season, so far, fairly propitious, so thah the tnext four or fire months oughb to witness a very sub3bantial increase in the material wealth of the colony—an increase which should, in its. turn, imparb some stimulus to commerce." The payment of £1,250 in dividends this week by the AlburniaG.M. Co. has caused a more hopeful feeling on tho Stock Exchajige. Improved prospects ab the lower level have also caused a better demand for shares in this Company. An excellent return of 6970z of gold was received this week from the May Queen mine, which had the result of causing shares bo advance slightly, A better inquiry is also reported for Hazelbank and Moanabaiari shares. After being,neglected for some months, Kuaotunu stocks are receiving moro attention, higher prices being offered for both Try Fluke and Rod Mercury shares. This is due to the uniform excellent returns from the former mine, and to the cubbing of areef in the latterwhich the manager reports to be ehowing gold throughout. Upper Thames stock have met with more attention during the past few days, and indications seem to poinb towards a revival in mining matters generally. Investing stocks are not in much demand, the main i transactions of the lasb few days being in New Zealand and South British Insurance shares. The former have changed hands at 595, being a slighb improvemenb upon the price paid a week ago. Sales of South British are reporbed at 325, with further buyers ab bhe same figure. Bank of New Zealand old issue have declined a little, holders being willing bo accept £4 6s, while buyors offer 3s less. We note with pleasure thab the Bank of Australasia, one of the institutions thab passed successfully through the recent crisie, has declared a dividend of 7£ per cenb. BANK RATES. Exchange on London. Buying—Discounb. Selling—Premium. On demand i% »» \fjr 30days J% .. HI. „60 days f/„ : .. f7. „ 90 days I*% .. 1/.

Rate of Interest Allowed on Fixed Deposits in New Zealand.

Fixed for 3 months, 3°/ 0 per annum. ;; 12 „ s-L .. Tea.—Presenb high prices are expected to continue at Colombo, aa the London demand is well maintained. Ab the Augusb Bales toas with fine flavour and quality were fetching extreme prices, and no business could be done at limits fixed by Australian importers. The Calcutta nwkeb is also reported slightly firmer. At a local trade sale this week Indian Pekoe Souchong sold at from Bgd to 9Jd and Assam Broken Pekoe at BJd in bond. . Almonds.—Jordana and Valencias have advanced considerably in price. Cloves.—Ab auction yesterday 10 baleß realised 7Jd per lb. Condiments.—Mangoe chutney, quarts, fetched 19s per dozen and guava jelly quarts, 20s 6d per dozen at a trade sale yesterday. Tobacco. —Darby pocket pieces are still scarce! Hairnet, 301b boxes fetched BJd in bond by auction .this week. Vinegar— Kht Crystal vinogar sold for 7s Id per dozen, and colonial, in bulk, at 8d per gallon, ab auction. Condensed Milk.— Nestles is in brisk demand. Ten cases of Silver Churn brand add for 5s 3d pcs dozen at auction.

Rice.—An unusually lengthy drought in Japan gave rise to apprehensions regarding the new rice crop. Prime quality is scarce. Best dressed Japan is now quoted at from £16 10a bo £17 in Sydney. Salt.—A furbher advance has been notified ab Home in the price of Black Home salt. A parcel of 15 tons of Adelaide Standard fine aalb realised 22a 6d per cwb this week at a trade sale. Dried Fruits.—Ab auction yesterday, dates realised 2^d, and ourrants 2Jd in bond. Dried apples and prunes are scarce, as consignments expected by the mail steamer did not come to hand.

Kerosene,—Stocks are not heavy, and a better inquiry is reported for Light of the Ago. Prices in Sydney show an upward tendency. Canned Fruits.—The Cutting Packing Co. advise thai the pack of apricots will be about 50 per cent, of last year's, also that the market for peaches and pears is very dull, the demand from all quarters being the least known for years. The pack of plums and other late fruits will also be loss. Still coupled with the stocks carried over, thig year's pack will make an aggregate that will test the capacity of eastern and foreign trade to dispose of promptly and profitably. Salmon. — The Columbia pack has totalled 375,000 cases as against 491,000 in 1592. The Alaska catch has been a good one

Fkozek Meat.—Exporb will shortly be roaumed. Referring to the London market for August, MeßsreC. Hainsworth and Co. reporb: The weather was very trying to the trade, making id difficult) for salesmen to gauge their supplies, any overdrawn soon became stale and had to bo cleared at low figures, a result doubtless which helped to dßpress values for all fresh parcels of mutton. Tho retail demand for lambs has slackened. The quantity of sheep has been in excess of the alow apathetic demand. Tho demand for beef caused an advance, bub recent consignments from Queensland caused prices to give way again. Wheat.—There were no arrivals during tihe week, bad weather preventing farmers from sending in their wheat The market continues very sluggish. 11l is, however, thought that the loweet prices have been reached. The European markets are in such a deplorable condition thab they offer no inducement for shipments. Concerning tho London market, Messrs Berry, Barclay and Co. reporb:—" Unsettled weather, although favourable to the growbh of the grass and root crops, is somewhat impeding the progress of harvest, which has now become general over the greaber parb of England. In France also the ingathering of the corn has been rebarded by frequent showers. Reports of the yield are very conflicting in both countries, and it is too early yet to form any reliable estimate. The trade has been more depressed than ever, under the influence _of enormous supplies, and the demoralisation of the American, markets." Looallycrushsd wheab meeto with ready sale, and a good demand continues tor fowl wheat. Seed wheat is not selling so freely, as the wot weather has interfered with farming operations. Bran and Sharps arc dull of aale.

Floor.—The demand has slackened. Maize.—The price for lines on the wharf has advanced to 2s Bd, as only 93 sacks came to hand during the week. Potatoes.—The market is weaker in sympathy with the South. Stocks there are however reported light, and it is computed thab high prices will rulo for tho remainder of the season. Grass Seeds are in moro demand, cocksfoot and rye meeting with ready sale a_b slightly advanced rates. It is estimated froln tn*e demand at Chriatchurch that larger areaß are being pub down in pasture, whioh will probably moan a reduction of the quantity of wheat planted this season in that neighbourhood. Barley is so scarco in bhe South thab it is thought prices musb rule high nexb season. Cheese.— Southern imports aro light bub tend to disturb the market; rates are without much alteration. s£d to 6d according to quality and size are currenb prices. Bacon and Hams.—The market is somewhat disorganised, and buyors are very wisely taking advantage of sellers' weakness. Forward contracts are tho order of the day. Rates are unchanged. Oats.—The demand is nob so brisk, although prices have nob declined. Stocks in the South are not heavy and any outside demand would be felt ab once. We quote 2s 6d c.i.f. bright short feed. Off colour samples, 2s sd. Bottjsr and Eogs are unalbered as far as prices aro concerned. Sbocks of salt butter are unuaually heavy.