COMMERCIAL.

Auckland Star, Volume XXVII, Issue 106, 7 May 1896, Page 2

COMMERCIAL.

Evening &far Office, Auckland, Thursday. Trade has been rather1 quiet during tho past week amongst distributing houses, bnt a brisk demand for potatoes, bacon, hams, and dairy produce is reported from the goldfields. This branch of trade musb ooon increase considerably, because a time musb come when the various mines will have to be fully manned in accordance with the provisions of (be Mining Act. While new companies ire in their initial stage some concession in the shape of protection is granted by the Warden's Court; but, of course, this is a temporary measure and not likely to be frequently renewed. Onco the ground taken up is fully manned, the trade with the goldtields will develop considerably, and already i. is steadily increasing each month. There is little change in the position of stocks. Condensed milk, Van Hooten's cocoa (in quarters), and National candles are still amongst the scarce lines. Supplies of Nesfcle's milk should* however, come to Liud next week, and arrangements have beeti made for larger shipments in future to meet the steadily growing demand for this article. Owing to the advancing market! for oats, millers in the South are declining to take forward orders for oatmeal at present rabea. The kerosene market has Continued very firm, with considerable sales reported for tho past week. The kauri gum market is quiet, as buyers ore confident that lower rates will yeb be accepted far tho steadily accumulating Btockß of poor grade gum, The main demand ab present is for Easb Coast and rescraped, bat the volume of business all round has not been much during the past week. The barque R. A. Smith which leaves for New Y&rk this week ia only about half full. The tittibOf mills art still very busy at* tending bo orders for local consumption and also for export, but tlie flax trade is as dull as over. There has been a decided improvement during tho lftsc day or two in the tone of business on the Stock Exchange. Most standard stocks -have advanced in value during the week, £13 being now offered for old isstio Auckland Gas shares, an advance of ss. sines last report). Holders, however, still decline to quote. The imposition of heavier insurance tariffs has apparently had a beneficial effect on those stocks, as buyers of New Zealaods have advanced froto 70s to 72s without sales resulting or holders quoting, . There have also been Steady buyers of National Bank shares at advanced price., lines changing hands at 30s and over. Tatfpiri Coal shares have also met With steady inquiry during the week, 21a being now offered. The developments in mining during the past week have been of a very satisfactory character. The return from the Hauraki mine of £6,365 17s from 300 ton of ore, coupled With bhe getting of gold in the Kapangamine below bhe 900fb level, created a better feeling towards Coromandel stocks and Several of the lower priced ofces advanced in value, the moan notable being Zalnndias, which went) from 7_d to lid, white Ceromandel Freeholds rose from Is 7d to Is lOd, Four-ill 'Hands from Is 2d to Is 6d. Bunker's Hills were a little easier and sold freely ab from 63 8d to 6s 9d. Developments of a most important nature took platie in the VVaihi districb which also tended to create a better feeling on the Exchange. In the VVaihi mine itself the lode at the low level opened out to 52ft in width, and for 30fb assayed ab tho rate of loz of pure gold per ton, which simply means that regular payable crußhings should be assured from this mine for years to come. Another importanb item of news was the intorim report upon the first crushing at the.. Waihi-Silrerton Company's battery. Already 500 boas of ore have been put through, and the average assay value is £4 5b per ton, which was evidenbly considered very satisfactory as yesterday's shares advanced from 72a to 755, the markeb closing with buyers at 745, and no sellers under 7oa. Queen ot Waihi shares also advanced from 2s 9d to 3s. Waihi Consols have sold freely in large lines throughout the week at 1 _ and Is Id, and as soon ac the present seller has unloaded, there is little doubt but that these chares will advance. Karangahake and Waitekauri shires have been in special favour during the week. Last evening Crowns sold as high as 345, Talismans at lis, and Woodatocks have changed hands frequently * at) 225. Large lines of Sovereigns and Yourip New Zaalancls have sold during the week at IS 5d to Is Bd, bub the markeb for bhe former showed a weakening tendency yesterday, Grace Darlings firmed during the Week, several sales being made at Is 9d, while Waibekauri No. 4 advanced a few pence in consequence of definite news being received from Loudon regarding the floating of the Company. Kuaotunu shares generally bave had fair demand, large numbers of Try Flukes being sold at 7s 6d, and Goldeo Anchors at from 8d to 9£d. Frequent sales also took place of Jupiters at 38 Id to 3s 3d, and Kapai-Vermonts remained firm at 8s to 8s 3d, sales being made at that figure. In Thames stocks the only movement of note was in Alburniaa, which firmed up to 5s lOd. Monowais closed the week a shade better, sales baking place last nighb at ss, while Norfolks sold at 3s Bd. "Victorias and May Queens, on the other band, were a shade easier. Wheat.—The market for milling wheat showed little change during the past week. Supplies received this week were mostly from loOal farmers. Manitoba wheat, via Vancouver, is finding its way to the Sydney market, and is well spoken of by millers. New Zealand growers will therefore have to take into consideration Canadian competitors on the Sydney market. Apparently, Manitoba will yet become a great wheat producing country. Statistics for 1895 ahow thab there were 25,000 farmers in Manitoba, who produced over 60,000,000 bushels of grain, the yield averaging 28 bushels per acre as compared with an average yield of 13 bushels in the United States. The area of Manitoba is about 60,090,000 acres, of which Only 2,000,000 are under crop, so that this province alone could easily supply the United Kingdom With all the wheat she finds it necessary to import. Sharps are Still very scarce, and have advanced 5s per ton in price. Bran continues firm at last week's price. FLOI_R.--The usual big deliveries are reported for tho first of the month. Malze.--Owing to heavy arrivals this week the market for maizo is weaker. Over 1,100 sacks arrived by the s.s. Waiotahi, and sold at from 2s lid to 3s on the wharf. Oats. This market is evidently being influenced by speculation. Oats after falling Id, have now advanced 4d per bushel. Holders in the South now ask Is ll^d f.0.b., while seed oats bid fair to be dear, as from 2a 2d bo 2s 3d is asked f.o.b. The market in Sydney has also firmed. There are plenty of oate in the South, bub there appears a general tendency all round to hold for higher prices. Potatoes.—The markeb is, if anything, a little weaker, as supplies are now plentiful. The present quotation ia £3 10a per too, and the tendency ia downwards. Grass Seed. —Only a few occasional orders are now sent in, the season being practically over. The growth this year has been very satisfactory, as in some cases farmers are already feeding cattle on the grass sown about two months ago. Butter and Egos.—Heavy supplies of butter are sent in from Taranaki ab previous quotations. Eggs have been very scarce during the week.