COMMERCIAL.

Auckland Star, Volume XXIV, Issue 248, 19 October 1893, Page 2

COMMERCIAL.

E iteming Star Office, Auckland, Thursday. Trade ctntinueß iull in nearly all departmoots. Diabributing houses, naturally anticipate business will be slack in the middlo of tho month, but retailers in all branches of trado are at) present aleo agreed upon one point—not tho half holiday, but the unlatisfactory state of business generally. It Is to be hoped that this is but the calm before a rush for Christmas. Preparations for tho festive season may already be seen in the number of painters now engaged decorating tho fronts of business premises. Thia is particularly the case in Karangahape Road at present, shop fronts boing altered and verandahs erected in several instances, while numerous establishments aro beine1 freshly painted. Low prices still rule for two most important articles of oxport from thia part of "the colony, namely, flax and kauri gum. The financial troubles in America aro by no means ended, and the result to Auckland is a total absence of ordow from New York for our dressed fibre, while tho same cause keeps down the price of yum. Notwithstanding unsatisfactory ratoa, however, large quantities of. gum aro being sent in, no less than 460 tons having como to hand for the eighteon days of the present month. It will be readily seen that a decrease iv price of over £10 per ton moans a serious loss under such circnm3tanceß. A sudden reaction and rapid advance would mean a email fortune for tho lucky holders. Meanwhile, the digger is the_ loser, and his spending power is diminished. Tho depreciation of value is oven greater with regard to tho flax, as fibre that formerly realised £26 per ton is now riot worth more than £13 or £14. The timber trade remains steady, as the fine weather has encouraged a little building in the city and suburbs. The wool seasonis now about to comraencs; in fact), shipments have already arrived by coastal stoamers, and so far tho reports nt the clip are very satisfactory. The ship Westland will complete loading ab tho end of tho month, aud a start baa already been made to take in consignments of tho first of this season a wool. Tlia Shaw-Savill Company's ship Forfarshire is to come here also to load wool for the London markot, and the fourmasted steel barque Morvan has been chartered by tho N.Z. Shipping Company for a similar purpose. This is one of the largost sailing vessels that has visited thia port. A late circular from Melbourne states that wool brokers wore expecting a better market, owing to an improvement at Home, medium wool having advanced from 2,£ to 6 pcr1 cent. For the sake of producers in this colony it is to be hopod chat these anticipations will be realised. Tho wbarvos have been fairly busy during the past woek. Boside3 tho coastal steamers those engaged in tho Australian trade have arrivod and departed. The brlgantine Mabel brought down 320 tons of salt from Adelaide amongst other consignments. The 8.3. Taviuni arrived from Fiji with a large shipment of raw sugar, and the s.a. Richmond brought Island produce from Rarotonga. The e.s. Upolu took away a fair cargo of merchandise for tho Islands, and the s.s. Pukaki brings a heavy cargo of grain and produce from tho South. Seldom has there been such a dull week on the Stock Exchange as the past one. Scarcely any transactions have taken place In investing stocks. Buyers of Now Zealand Insurance now offer 61s, but there are no sellers at that figure. Devonporb Ferry Company shares have been enquired for. but no sales were reported. There appears to be a general feeling that the protracted timo of suspense with regard to the roconBtruction of the Loan and Mercantile Agency is paralysing investment as the shareholders are no doubt quietly gathering in what money they can to enable them to meet a call should one bo made. Pending settlement, this rnonsy is simply pub by. The mining markeb has suffered a complete collapse. Notwithstanding tho recent payment of a dividend, and the amount of money and picked stone i" hand, the value of shares in tho Alburnia Gold Mining Company has steadily declined, and latterly few transactions have taken place. May Queen's al«o fell in price in consequence of a large number of hands boing dismissed from the mine. Other mining stock have been quite neglected. BANK KATES. Exchange on London. Buying—Discount. Selling—Premium. Ou domand \°l o ~ !£% SO days 4°/ o „ H°h „ 60daya f/ 0 „ f/ 0 „ 90 days IJ% .. i°/» Rath of Interest Allowed on Fixed Deposits in New Zealand. Fixed for 3 months, 3% per annum. „ 6 „ 4% „ 12 „ 3% »

Dried Fiinns.— Consignments of apples and prunes and othoi- fiuita were received by fche mail steamer from San Francisco. Tho latter are not, however, in largo supply. Canned Fruits.—Tho new soason's fruits have arrived and are somewhat easior in price. Tho Cutting I'acking Company report that tho pack this year was about 50 per cent, of that of the lasb two or three eeasona. Sauiox. — One of tho results of tho Huddarb-Parker Company's Vancouver line of steamers has boon the introduction on this market of tho Holly Loaf brand of salmon from British Columbia. The article is attractively got up and should meet with a fair salo. tho,Cutting Packing Company report that the Alaska season just cloaed was a satisfactory ono. A line of 250,000 cases wero placed ab one dollar per dozen for pound cans. The pack is now out of firsb hands, but although no advance may bo looked for, there is no likelihefod of a doclino. Columbia River spring catch are scarce, .and enqairod for at best prices. Tli9 British Columbia catch was the largest of any season yeb. Locally, a bettor demand ia reported for tinned fish, with tho exception of lobster, of which che increased price prevonfcs sales. Bovrill is coming into request. Nestles Milk.—Stocks are running down, btib consignments are on board the b.s. Waikato. Rice is firm ab £21 per ton, duty paid. The new crop is nob likely to reach here bofore next January. A consignment of 800 bags of rice was received by the Tarawera from Sydney. Liquors.— A better demand ia reported for light Australian wines. Tho market is bare of White Horse Celler whiskey, but shipments are on the way. Usher's whiskey meets with ready sale. Wheat. — Considerable quantities of wheat have arrived during the week by railway and from the South. Our own and Southern markets continue very sickly, although the lotesb advices from Europe indicate a firmer tendency. Beerbohm estimates a docrease of the world's wheat crop by 18,000,000 quarters, as compared with last year, Dornbasch estimates the decrease at 16,000,000 quarters, and the Hungarian Minister estimatos thab the excess in exporting countries will jusb about moot tho requirements of importing countries. The recently published returns of tha British Board of Agriculture Bhowed a decrease of nearly 15 per cenb. of the area under wheat in Greab Britain, and it is calculated that tho new coreal year will be started with only 53,675,000 bushels of British corn to meet a year's wants estimated ab 230,000,000 bushels. The Australian markets show signs of improvement. It ia estimated that after supplying local demands Victoria will still have 40,000 tons of wheat to soil within the next throe months. In our own market, crushed wLoab ia still Belling freely, bub the, glub of |

maize has checked the demands for fowl wheat. Bran axd Sharps are not selling freely. Floor.—Sales are rather banging fire. Maize.—The markeb is still glutted and no maize has been exported during the week. In all 231 aacka arrived. Prices ruled as low as 2s 5d for inferior and 2s 6d for ordinary. There is a strong demand for seed wheat) ab 2s Bd. Oats are somowhat easier. Onions.—Consignments by the_ mail steamer cost more to lay down this timo. Butter and Eggs are both in heavy supply and inferior quality of the former is hard to quib. Advantage is being taken of the presenb low price of eggs to pickle them for Christmas use.