COMMERCIAL.

Auckland Star, Volume XXIV, Issue 254, 26 October 1893, Page 3

COMMERCIAL.

.-. Evening Star Office,

. . „ AucKiftnjd 1 ,- l .xnurßaay. Distributing bowses were a little busier this week getting out orders for the first of the month. Wibh the advent of fine weather a more hopeful feeling is noticeable, bat the terribly depressed state of the kauri ._ am and flax markets makes the outlook • anything but bright, more particularly in the country districts. Stocks of flart are accumulating in the stores, and there is still an absence of buyers. The gum trade ja in almosb as bad ft condition. Notwibh--1 standing the low price 3 offered, heavy supplies continue to come to hand, and local dealers manifest ho eagerness to purchase even ab the rates quoted. No orders are being received -from America, and this state of affairs will most likely continue until the tariff has been settled. At present there is no duty on gum imported into the United States, bub probably American buyers fear to forward orders lest an impost " should be pub on before the purchases ' arrive. So much gum has been rushed off to London that the market there is also glutted. Prices arenowlower than theyhave been for some time past, and the quotations are purely nominal. This necessarily means less to the digger, and also to storekeepers in the gum districts. Although a little more building is going on in the suburbs, the timber trade is by no means brisk. Dwelling houses are tho principal erections, and in the Mount Roskill district —where formerly there were numerous empty houses-r-building is now steadily proceeding. This ia undoubtedly a healthy sign, betokening increasing population. In the country districts farmers are now very ' busy, the recent rain having heen very beneficial. Wool is beginning to come in ' ireely, and the n'rsb cargo will be des- ' patched Home shortly. The wharves have been quiet during the past week. Excessive dulness has been the chief characteristic of the Stock Exchange since ] as t report. Sales of mining shares are few and far between, while investing stocks are likewise neglected. New Zealand lnsurapce are a little better in price, and South , British have been more frequently inquired for. BANK RATES. Exchange on Londox. Buying—Discount. Selling—Premium* On demand i°[ o „ l|°/ 0 30 days 4% „ I*7. „ 60 days f/ o „ f/ 0 „ 90 days I£7 O „ 47. Rate of Interest Allowed on Fixed Deposits in New Zealand. Fixed for 3 months, 37 0 per annum. „ 6 „ 47. „ 12 „ 57 0 Rice.—Cable advices from Japan yesterday notify a smarb rise, as the new crop i 8 reported to have been damaged. Stocks here are rather light, and prices have advanced at the rate of £1 to £1 10s per ton. Sago and Tapioca are meeting wibh better sale. Oatmeal is not in great demand. Vinegar.—Case and bulk are selling freely. Candles.—The markeb is easier, prices of imported brands being much cub up. Kerosene.—The low rates continue. Dried Fruits. —Prunes and apples are in good demand, and stocks are nob large. Locally dried apples are now oub of the market. Canned Fruits meeb wibh more inquiry. Tinned Fish is selling better as the hob weather sete in. Tobacco. — Shipments of * Derby go j rapidly into consumption as they come to hand. Wines. — Australian light wines are Coming more into notice. Oilmen's Stores generally • are without nobeworbhy change. Oils.—Raw linseed oil is rather scarce. ' A better demand has set in for turpentine and other oils, as considerable painting is now going on in the city and suburbs. Wheat.—There have not been any arrivals of milling wheat during the past week. Reports from the Home, American and Continental markets are of an unsatisfactory nature. Our own and Southern market? are drooping, there being hardly any export, while millers only buy for preeent necessities. Concerning the markeb at Dunedin, one firm states: "We are tired of reporting upon this cereal. The same dearth of speculation exists,, and buyers are .difficult to find." A Christchurch firm writes: "The markeb continues flat, in sympathy with Home advices, and business is nob brisk. Prices, however, show no decline, and seeing that farmers are not at all disposed to accept current values, and stocks in merchants' hands have been greatly drained of late, we see no prospect of writing down values." The wheat crop in the South is reported to be looking well, while the genial rain on Saturday and Sunday has wonderfully improved the prospects of the crop in the Auckland district. Crushed wheat continues to sell freely. Fowl wheat is not in much demand. Bran and Sharps.—Owing to large importations from the South, local manufacture is nob selling freely. Flour Not much selling. Maize.—The market is a bit firmer, as the glut ia over for the present. Only 60 Backs arrived this week, and no sailing vessels? are expected for the next few days. Farmers are no doubt taking advantage of the fine weather to get in the crop. A good demand is reported for seed maize. Prices' for ordinary maizo aro 2s 8d for line? on tho wharf, 2* 9d ex store. Oats.—The markot is a little easier. Stocke in the South are, however, light, and ibis expectod prices will continue steady for the remainder of tho season. Speculators are buying a littlo more freely for export at Dunedin. Potatoes.—A temporary scarcity caused potatoes to advance rapidly this week, pnles beinc reported as hi^'h as £8 per ton. Consignments were sold to arrive by the Talnno at £6 10s por ton. An advance of 10* per ton is reported from Christchurch, where «tocks are now pretty well cleared oat. Locally, now potatoes are coming to hand freely. Bonedust.—The bulk of the sales for this season are now over. Bacon and Hams continue in good demand at previous quotations. Butter and Eggs.—Butter isnow coming in very freely notwithstanding the low price paid to producers. Eggs are not quite po plentiful, and will, no doubt, advance in price as the Christmas season approaches'. Cheese is a littlo easier, prices ranging from 4id to 5Jd wholesale. Fruit.— Strawberries arenow coming in freely. The markeb is well stocked with Island fruits.