COMMERCIAL.

Auckland Star, Volume XXVII, Issue 19, 23 January 1896, Page 2

COMMERCIAL.

Evening Star Office, Auckland, Thursday. Trade haa been somewhab quiet during the oast month, the outcome of purchases ieine heavier than usual before Christmas. As the 25bh is now near, no doubb orders for February will show an improvement in business generally. Trade with the Islands continues good, and we note that the s.B. Stella is now going to rira to the Rarotongan group. During the week the s.s. Rangatira arrived with B cargo of 2,400 tone of general merchandise for this port. Amongst the Hues co arrive wero shipments of Neave's Food Van Houton's cocoa, Derby tobacco and Albert sardines, all of which wero welcome owing to etocks having run dowu considerably. The timber trade continues very brisk, there being an excellenb demand both locally and for export. Since the beginnine of the year sawn timber advanced in price 6d per 100 feet, and there has aho been an increase of about 10 per cent, on mouldings, sashes and general joinery. Mills are still full up with orders, and tbe outlook for the timber industry has nob been so brighb for years past. The kauri gum market shows no sign of weakening, prices for all grades being Well maintained, "while East Coast is nOw unprocurable under £72, and supplies are very abort. Ab the Easb Coast gum is got in bhe vicinity of the gold fields there seems little doubt bub that many of the gum diggers have obtained regular employment in the mine_. Superior parcels of re-scraped gum are also in demand, bub the poorer grades aro hard to quit. Owing to supplies all round nob being so heavy, local stocks have been considerably reduced. The Tilly Baker has arrived in Wellington from Now York and will come on hore for a return cargo of kauri gum. Harvesting is now in full swing in the country districts and accounts so far are of a very satisfactory nature. Farmers should have a good time this year as the drought in Australia has created a demand for our produce which appears likely to increase as the year advances. The rate at which stock have died off in Australia should mean a considerable decrease in the output of wool next season, which should tend to maintain a part at least of tbe advance in price made this year. The wool sales yesterday were not, however, so successful a3 might have been expected considering the reassuring news cabled from Home regarding the state of the market there. Probably those farmers who declined to sell aba concession yesterday will secure better rates by shipping direct. It is sbill, however, satisfactory to note that the prices obtained yesterday were better than those ruling ab the second wool sale lasb season.

Business has been of a holiday nature on the Exchange this month, and the absence of buyers has caused heavy holders of lowpriced stock some uneasiness, resulting iv a decided tendency to unioaa aba sacrifice. At Coromandel the Hauraki mine opened the year well with a crushing ac the rate of over six ounces, of gold per ton. The yield is nob so large as usual, aa the mine was shut down during the holidays. Still, £5,082 worth of gold waa obtained from 278 tons of ore. Rich stone is also being obtained ab the Pride of Tokatea mino, while in the Four in Hand specimen stone has been gob thac is estimated to be worth 2ozs per ton. The Hanraki North mine, which adjoins the Hauraki Special, also secured 60ibs ot first-class atone, so the Coromandel district haa led off well for the present year. The crushing, this month from the Crown mines, Karangahake, was a very satisfactory one, 337 tona having returned £1.980, an average of £5 17s 6d per ton. An imporbanb development has taken place id the Victoria mine ab tho Thames, a loader having been cub in the Prince Imperial section, from which 101b of picked stone were obtained yesterday. This lode ia quite a stranger to any of those originally worked by the old Prince Imperial Company, although running in a parallel course to the Mariner and other lodes Bituated on bhe aoubh-easb Bide of the shafb. This lode strikes through the ehaffc near to the surface, and from whab can be gathered ib should be quite intacb and unexDlored in any parb of the mine with the exception of bhe extended operations of the adis level behind the shafb. The immediate result of bhis discovery was to cause shares to advance from 2s 7d to 3s 2d. Shareholders in the Alburnia mine will be gratified to learn thab the Home purchasers have paid a deposit of £1,000, which should imply an early completion of the sale. The other mines taken over by English Companies are now getting to work. Tenders have been called for increasing the crushing planb ab the Woodstock United mine, Karangahake, while over 200 are still engaged getting things ready to commence crushing afe bhe Waibekauri mine, and the Waihi-Silverton battery is now approaching completion. When ib is borne in mind thab during bhe year just closed our mine 3 paid £128,500 in dividends, an increase of £97,000 on the amounb disbursed in 1894, ib must be conceded thab we havo every reason to anticipate a good oub-pufc now thab so many additional batteries are being erected. BANK RATES. Buying—Discount. Selling—Premium on demand \°l_ .» 1? L 30 days 4% „ 47. ,60 days f/ 0 ~ tU 90 days lf/ 0 ' „ \,L Interest Allowed on Deposits. bank of new zealand. Fixed for 3 months, U7„ per annum „ 6 ». s*»7. ... „ 12 „ 347. „ 24 „ U% „ Interest payable halt-yearly. BY NATIONAL BANK. Fixed for 3 months, 2% per annum „ 6 „ 3% „ 12 „ 47. „ 24 „ 4% BY AUSTRALIAN BANKS. Fixed for 6 months, 2% per annum „ 12 „ 3i7„ Sugar.—An advance of 10s per ton took place on bhe 20th inst. in the price of Nos. 1, 2, and 3 sugar and also in cube. Rice still keeps firm, being now quoted ab £12 15s per bon in bond. Corusacks. — Sbocka of 48-inch cornsacks have run down, and the scarcity is likely to continue for some time. Kerosene.—The markeb continues very firm ls 4d bo ls'sd per gallon being asked for standard brands. Tho Tillie Baker has arrived in Wellington from New York, bub the shipments for this porb are nob large enough to alter the present firm tone of the Liquors.—A fair demand is reported for ales, spirits, limejuice, and cordials generally. Champagne is very dull ef sale. Heavy consignments of gin came to hand by the Rangatira. _ Canned Goods generally are now in good demand. Fencing Wire.—Shipments ex Rangatira arrived to a rather bare market, and importers have therefore been able this week to eflect fair sales ab current) rates. Corrugated Iron by the same vessel has also sold readily. Cement.—Fair transactions are reported this week in cemenb ex Rangatira. Maize.—Arrivals this week have been heavy, totalling 1,579 sacks, the Clansman having brought 95 sacks, the Waiotahi 1,050, the Chelmsford 172, and the Elinor 260. The markeb _3 therefore well stocked at the present time, and buyers bave been offering 2s lid, which was, however, clined both privately and ab auction,

holders being well aware that maize is likely to be scarce before long, as shipments have already been unusually heavy as compared with former seasons. American maize is now on tho Sydney market, being landed there ab 3s per bushel, so that there is nob much chance of further export from Auckland ab present rates.

Wheat.—Farmers have been kepb ,_6 busy harvesting thab transactions in wheat, have been almost nil during the pasb week. If anything prices are a shade easier bhan thoy were in the South, owing to tho closeness of bhe new crop, the yield this seasou promising to bo a heavy one throughout tho colony. Already in thia districbafair proportion of the wheat haß been safely stacked, and harvesting is now general. Prices should be satisfactory this year for the now crop, aa bhe Australian colonies should be good customers this season, particularly New South Wales. In Adelaide the market is already advancing owing bo the demand for Sydney, and millers in tho latter city are reported to be contemplating an advance in tho price of flour. America i_, however, shipping large quantities of wheat bo Sydney. Up to date, over 30,000 tons of Californian wheat, or its equivalent in flour, have been booked for thab market, exclusive of a shipmenb of 500 tons in tho Oimara and 2,500 tons in bhe Lombardy, both of which vessels sailed laßb month for that port. A cargo of 2,000 tons of Californian wheab wan placed laßb week in Sydney ab Ss 5d to arrive, Bran and Sharps,—Heavy arrivals from the South have checked the demand for the local article. Flour.—Fair sales are reported. Oats.-—The market has a downward tendency, sellors in the South offering at 2s 3d, c.i... Local stocks are still heavy. Potatoes,—Supplies continue in excess Qf the present demand, and only prime samples meeb with ready ealo at from £3 to £3 IDs per ton. , Seeds.—The new season's clover seeds arrived by the Rangatira this week in excellenb condition, and proved to be even bebter than the samples forwardod previously. Seedsmen are already receiving inquiries for clover and grass seeds. Stocks of rye are pretty heavy this season. Butter and Eggs.—Supplies have not been so heavy this week, consequently eggs have advanced Id per dozen. The price of first-class dairy butter has also been raised id per lb. Keg bubter is meeting with a little better sale.