COMMERCIAL.

Auckland Star, Volume XXV, Issue 40, 15 February 1894, Page 2

COMMERCIAL.

Evening Star Office. Auckland, Thursday. It becomes somewhab monotonous to continually report) that) business is dull, bub euch is ondeniably the state of affairs. Ab the same time, with an increasing population, ib would seem that retailers should certainly meet with better business. As we partly foreshadowed, prices did not advance at the London auction Bales of kauri gum, but. .on the contrary, receded, and merchants here are now in the somewhat unpleasant) poßitiou of having to pay a higher price comparatively speaking than that ruling ab present in London. For''gam" boughb re•ently in Auckland could nob be bold at the Rtme price-in' London, with the transit and other charges added. 4 That simply means that merchants"hefe will naturally refuse to purchase' until either the Home market advances or the local one declines. The only way to remedy this is a lessening of the amount of gum Vent in, but heru, unfortunately, another difficulty arises. At the present low price the dinner must work harder, and send in uioro i.»m if he does not* .'wish to starve, '■»_' at present ib iff useless to c... into town to look for work. We ii. u« a deal about the5 "roadless north, 11 and liere surely is a fine opportunity to remedy the present cad state' of affairs, "by starting do-operativo road-making, as has been done in other parts of the colony. The digger would thusi be able to live, and the gum would nob be dug bub of the ground and sent in to an already glutted market, while the country" settler Would ba permanently benefited by having toads made to open districts which have' been systematically neglected by successive Governments. Ab present the storekeeper's in the Northern districts are in a very trying position. In order to liquidate the debts of their customers they must buy the gum and take the risk of finding prices lower in town by the time they send in their purchases. An instance occurred yesterday, when one such purchaser was offered £10 per*ton less in town for gum ho had boughb and sent in. Another feature of the proBent state o( affairs ia that many diggers are bringing their gum to town, probably under the impression that the country storekeepers are nob offering as much as tney ought to. A still more significant fact is thab yesterday two Chinese were etriohgst those who wished to sell their gum. Should the almond-eyed Celestial go in for gumdiggirig as a general bhing, itis to be feared that the cup of bitterness for our own countrymen will be filled to overflowing. The only hopef for improvement is a settlement) of the tariff dispute in the American Senate, and unfortunately that does nob appear near at present. The flax trade is also practically dead at present, owing to the lack Of American orders. In the face of these facts it is all the more satisfactory to report an improvement in the timber industry.' Orders for 250,000fb of sawn kauri have been received from Napier and for another 118,000 ft for anobher jjoffs further • down the coasb. The local demand is also a litblo better, and tno tkice for baulk timber bat been advanced sixpence by one big company. Improved prices are also ruling in L6nd6n for New Zealand frozen meat, and dairy produce also sold well, according to late advices. BeyOnd the ordinary intercolonial and coastal trade, the wharves have nob been busy during the past week. Heavy supplies • of" grain arid other produce were brought from the South by thes.s. Mararoa. The iron barque Tahiti also arrived during the week with a part cargo of American merchandise, Which included 1,000 cases Of kerosene. A cargo of 232,000fb of timber Was also' taken by the Handa Isle to Melbourne this week. The low passenger rates now. ruling between here and Australia are -still "inducing large ntmjbers,,. t'a visit the various big citie3 on the other aide, while many fresh arrivals are still coming intd the colony in • order to avoid the results of the depression in Sydney and Melbourne.

'Beyond inquiries for Upper Thames ebock, little has been done on the Exchange during the past week. High prices continue to be paid tor. Waihis, while Wood--Btocks rH4[ve advanced a little in price. We note that the Golden Cross ab Waibekauri are now inquired for ab 6a 6d, but holders will nob sell under half a sovereign. In Lower1 Thames stock, there are steady buyers of Waiotahi shares ab 12s, with no sellers ab bhab figure. Alburnias are also a libtle firmer. Investing stocks were nob in, much demand during the week. The alteration in bank rates nobifiod by Cable this week have - nob so far been followed here. V," ''■ . BANK RATES. Exchange on London. . Buying—Discount Selling—Premium. Ondomand £%" ■~•■- If/, . 30 days- ..J°/ o - „ H°L ~60 days f/ o » £/. „90 days If/ o - v i/. ' "Rate-o^ Interest Allowed on Fixed :■'■" Deposits in New Zealand. Fixed for 3 monbhs, 3% per annum .. „ 6 „ «%■ .. 1 ~ 1* „ 5% ' ... Jute.—Stocks of really, good jube are reported shorb ab Calcutta. Abpresenbthe market is, uncertain, as the price ot raw m&berial hiis advanced. . Rice.-—.New. .'season Seeta rice is ruling lower in Calcutta., The new crop of Ballam ia also on the market. ..Dried. Fetiits.—Cutting Packing Company report dried apples firm at an advance, and with the exception of prunes and raisins tho market ie steady for all varieties. Ibis thought that any change will bq towards higher rates. Canned Fish is selling, freely, as it is the, Ljenter»/ season. . Although stocks of canned salmon are large in San Francisco, the market.is reported healthier. Wheat.—There have been pretty heavy arrivals during the week of prime wheabfor the Northern, Mills, the s.e. Mararoa alone bringing 1,000 sacks. In the Auckland district tho .wheat crop has now. fortunately been all secured,, and the results, so far as quantity and quality are concerned, are all that .could be desired, bub the price still remains aba low leveU In the South the weabhor has broken occasionally, andhas consequently retarded harvest operations somewhat. The resulthas been that in some cases the grain was discoloured. Farmers in the South are still homing for better woather ta. complete their harvest. The London,, market is still in a depressed condition, prices being again a shade lower. The;latest quotation in Mark Lane for pargoes of Australian wheat, oft bhe coast, was 26,8 3d per quarter, and thab does nob mean, with freight ab 2la 6d per quarter fend charges Is Id, more than 2s 4^d f.o.b Melbourne, a price wholly unreraunerabive to tho grower. Ib is stated that the real future of the English, market depends on crop .prospects ia the Northern HemisphereShou(d tho3o be unsatisfactory in March and April pricos , will. advance. Our own and Southern markets are lifeless, and some holders of wheat are Waiting to watch the result of the harvest In the South before selling at the prices now flffering. Reports from Victoria are bo tho effect bhab from present appearances it would seem as if either the surplus wheat held over last year exceeded anticipations, or olso the present crop was under eabimated. Crushed Wheat is meeting with fair demand again. *!F6wL' ft'iiEAT is dull of sale, and Id per buehe/ choapor. ' • ' "Tlouk.—Fair sales and deliveries are refctofted. "BkananT' Smart- ■- -^V r x *s, I.»|^*'9n; Ct the reduced '-".'.

Maize. —The s.s. Waiotahi arrived with 736 sacks this week. As no maize is now being senb on to Sydney, the local markeb is a little weaker. At. auction, 2s 6d was obtained for prime maize, and from Is 2d to 2s 2d for damaged, some of which waß about fib for pig feed. Lines of maize on the wharf sold at 2s 6Jd, but holders are now willing to.sell at 2s 6d. Ib is estimated that there are still about 25,000* sacks of maize ab Opotiki. % Oats. —Samples of locally-grown oats, new crop, were offered this week, but from Is lOd to 2s was all the price obtained wholesale. The crop in the Canterbury district ha 3 been much damaged by the bad weather. The harvest in Southland has nob vet commenced. Holders of old oats there are "firm, a3 stocks are very low. A consignment of 1,400 sacks of Southern oats arrived this we"ek. v ... '■■ ..' Potatoes.—Supplies are coming in" very freely, consequently prices -do nob advance, the markeb being still glutted. Butter and Egos.—Although the Lent fast bus coiututiiicedi eggs do not advance in price. Uuuer is stiil quoted very Tow, the trouble being bo get it into markeb in anything like decent condition. Should the wind still continue in the south, of course the state of affairs will improve. Frctit.— The market is well stocked with fruib of all kinds, and, as usual in "the season, additional retail shops have been opened so freely thab it becomes a marvel to think how all contrive to pay wages to tha proprietors. Grapes are plentiful, and really good hothouse may be obtained at Is per Ib retail. Plums and pearsTemain high in prico, Bon Chretiens fetching what would be considered fabulous prices a year ago. The supply of apples 'is quite equal. to the demand, but the matketyia-.nptijas glutted as ib usually^^'.itf^hdVrn^jlj^ti'^of' February. Peaches- -'aW^ ihow/V-.s^ci6ih''|ri'g scarcer, and good samplesj rea%e 'high prices. " ■■ ■■ -vC' .V; : f.-';:.; f"* ' :''"■■