COMMERCIAL.

Auckland Star, Volume XXVIII, Issue 23, 28 January 1897, Page 2

COMMERCIAL.

Evening Stab Office, Auckland, Thursday. Business has shown slight improvement this week owing to the usual activity caused by the receipt of orders lor forward delivery. There ia, however, litble to chronicle in the way of alteration in values. Rice ia still fl carce and maintains ita price. The brisk demand continues for canned fruits, an evidence of the scarcety of fresh fruit which ia unusual ab this season of the year. Sultanas are also in briak demand and supplies are not heavy ab the presenb time. Mason's jara are being aold very freely. A good demand ia also reported for agency for goods all round. The wheat harvest haa resulted better Shan was anticipated when the scarcity of raiu aince October ia taken into consideration. In the South the cropa have alao suffered from the wanb of rain. After the very web weather ruling aboub a couple of montha ago a dry spell set in, and between excess of wet in the early spring retarding the'growth of cropa and the continued dry weather subsequently baking the ground, it looks as if the coming harvest-would nob at all well, excepting perhaps some of bhe cropa on tha low-lying and heavy subaoiled plains. In many districts sheep have been turned into tha cropa for feeding off, and ib seems pretty certain that this year's hardest will fall somewhat below the average. Prices should, therefore, be : well maintained thia year, more especially as freights from the South have advanced—wheat, to the extent of Is 6d per ton ; bran and sharp?, 2a 6d ; oata, 2a 6d ; flour, only 6d ; barley, 3a ; grass seed, 6d per sack'; potatos... 4.1 6d per ton ; peas, linseed, malt and bean?, about 2a 6d per ton ; and onions as high as 6* per ton. This advanco is, of course, ail in favour of local producers. _ The building trade still continues brisk, and very few tradesman can bo *aid to bo oub of work ab the present time. Timber mills are still aa busy aa over attending to local orders and supplying the demand for export. The demand tor dwelling-houses seems now to have been a.ucceaafully coped with, and a few tenements may now be seen bearing the notice that they are bo let. Houses are still, however, being erected, more particularly in the suburbs. The tone of the kauri gum markeb ia nob quite so good as ib waa. This ia duo to some extent to the fact thab a large proportion of the gum now being sent in ia of very poor quality, owing to it being taken from the swamps'. Stocks of better grade 3 are still light, and buyers are now waiting to see the rates ruling at the auction salea which take place to-day in London. Should any improvement take place on the English markeb for gum, ib would coon bo felb here, aa the only sbocka thab havo accumulated are of grades nob wanted ab preaenb. Suppliea of gum ahould increase now, aa within the last few weeks fully 200 Auatrians have arrived from Australia and gone on to the Eelda. Although business haa not bson quite so brisk on the Exchange during the paat week, still moat important developments have taken place in several minea, both ab Coromandel and the Thames, and ib would seem as if ab last aomo tangible results were bo be seen for the large amount ot money spent during the last 18 montha in the development of new properties. The Argoay mine at Tairua has got come good picked stone, the Alburnia East and Nonpareil minea at the Thames are both driving on recently-discovered gold beariog reefa, while very good stone which shows.daba of gold freely ia being got in the Victoria mine. The moab importaut development ia, however, in Scotty'a Hauraki • mine ab Coromandel. Here ib would almost seem aa if a second Hauraki had been opened up. At a depth of nearly 300 feet a winze was sunk on a reef 5 feet wide, and at the breaking down aboub 150 poundi of specimen stone were obtained, one piece alone which weighed 50 pounds being valued ab fully £300. Thii, coupled with tho diacovery of rich stone at the 940 foob level in the Kapanga mine, which adjoina Scotty'e, should point to the future proeperity of Coromandel, and encourage other English companies to follow the old maxim "dig deep to find the gold." Representatives of foreign capitalists are still trying to secure eligible minining properties. An offer ia understood to have been made for the Prospect mine at Kuaotunu, bub so far nothing definite baa been agreed to. Negotiations are aleo in progress for the Great Barrier mine, and also for the Great Kapanga at Coromandel. It ia therefore evident that tbe present quieb on the Exchange is not a reflex of the state of the mining industry, but is more probably owing to the fact thab another heavy call list falls due on the 10th ol next month. In standatd stocks an upward movement haa been made in coal shares, Hikurangia Belling ab 103. while Taupiris are wankea at 25.. Gas shares have also been in steady demand, but no transactions were reported. Wheat. — Harvesting wheab is now nearly over in this district, and we are pleased to learn from several leading farmers that the quantity and quality ot the yield ia aatiafactory. The straw in many cases will be deficient, bub the heads are well filled. As regards the markets there has been very little busineaa done here latterly, but in the South a good quantity of milling wheat has changed hands, aa several of the millers are now picking up prime aamples for the purpose of mixing wibh the new wheab when it is ready for milling. Prices ore, on the whole, a shade easier. Messrs John Darling and Son reporb: "A slightly better feeling ia noticeable in the Adelaide market, 5a 8d being paid. At up-counbry stations relatively higher rates are being paid, and to secure auppliea the inland millers will, no doubt, ba compelled to exceed the ratea ruling ab Port Adelaide before very long. In Victoria the markeb haa taken an up ward turn and advanced to 6a per bushel, at which Borne fair parcels are said to have , changed hands. Tbe delivery season there ha? been very short, and haa terminated in moat parte rather abruptly, thereby causing the millers to look anxiously for their re quiremente and neceasitating their drawing upon accumulated stocks, and they are giving to holders tho price demanded. Suppliea are likely to continue on a very limited acale for the balance of the year in both colonies, and from presenb appearances bhere ia no immediate reason to anticipate any decline ia values. In Riverina deliveries are still being freely made ; the market is now fairly firm, and an advance of aboub ld per buahel haa bo be recorded in these tnarketa. The Sydney millers now show a disposition to operate, bub bhey will have bo pay higher prices than waa indicated by them some timo ago if theydeaire to secure a share of the wheat As regards tho crop in New Zealand, ib is now eabimabed ab 5,700,000 bushels, which should leave only about 500,000 buahela available for export. Statiaticiana in Great Britain are of opinion that prices must advance shortly. Under the heading of " The Wheat Problem," " Money " haa tho following in a recent issue :— "Same idea of the reulity of the wheab problem with which tho world ia face to face may be gabheied from a comparison of the authoritative eatimatea of tbo world'a visible supply of wheat at the presenb moment: 1896, 19,533,000 bushels; 1895, 22,443,000 bushels ; 1894, 25,010,000 buohels. Six years have passed away eince tho grand total haa been co email aa afc the preaenb time. The recent heavy shipments from America are likely to encourage American holders to dr.w bhe rein still more tightly on bheir stocks, and lively timoa may be anticipated in the American markeb beloro the trouble is em."

Maize.—Larger suppliea of maize came to hand thia week, the s.s. Waiotahi bringing 1,153 sacks, bub the Chelmaford only had 57 sacks on board. Lines on the wharf realised 2a Bd. Accounta aa to the prospects of the new crop are more satisfactory. The late rama have had a wonderful effect, and in the low, peaty lands, very heavy returns are now expected. On the lighter soils round about Te Puke, however, the crop will not be up to tbe average. Fowl Wheat ia dull ot aale. and baa been reduced in price 3d per bushel. This ia, no doubt, due to the iacb thab maize is comparatively the cheaper feed jusb now. Bran and Sharps aro very alow of aale._ : Flour.— Satisfactory aales have been made for delivery at the firab of nexb monbh.

Oats.—This markeb shows no change. Grass Seed.—A little better inquiry ia reported for graa9 eeed thia week. Potatoes.—This market haa a downward tendency at the moment. Over 1,200 eacka of Sydney potatoes arrived on Monday, but a considerable proportion was in bad condition, and have, consequently, been offered ab low prices. Whab local potatoes are being sent in are really prime aam plea. Onions are easier in price. Abou_ 10 tons of local growth were exported to Honolulu by the outgoing mail. Butter and Eggs.—Beat branda of dairy butter havß advanced in prica 2d per lb, but thab figure ia only paid when tha artic. reachea the retailera' handa in good condition. Second .quality showa no improvement in value aa fihe market ia overstocked with poor grade butter. E^gs are unchanged in price.