COMMERCIAL.

Auckland Star, Volume XXVIII, Issue 262, 11 November 1897, Page 3

COMMERCIAL.

Auckland Star Office, Thursday.

The course of business has been interfered with this week by holidays, race meetings and inclement weather. This season is such a peculiar one that summer goods so far have had little or no demand. This has been particularly felt by drapery establishments. In the country districts the continued cold .vesterly Aveather prevents crops growing, and it is to be feared that the fruit crop will suffer from the frequent high winds. Distributing houses report an excellent demand for elemes, currants, and canned fruits. Rice continues to linn in price. Kerosene is also a little firmer this week; as there is none expected to arrive for some time to come future deliveries will have to be from the stores. Generally speaking trade all round has been quiet this week, and under such circumstances there are feAV market movements to be chronicled.

Timber mills are still running night and day to fulfil orders in hand. The demand for the Thames is not so brisk as it was. Accounts from London point to the market there being noAv pretty well stocked, nor is this to be wondered at seeing that one firm alone in the Kaipara has five ships loading at the present time, and is cutting at the rate of about a million feet per month. Stocks of second class timber are, however, still steadily accumulating. The kauri gum market is not quite so brisk as it was, as shippers are not eager to buy at local rates to forward to the London market so late in the year. Prices Avere Avell maintained at the London auction sales last Thursday, re-scraped being especially firm. On the local market there is no doubt that present rates are too high to last. This is particularly the case in respect to ordinary grade Avhieh at present is too high to be exported to London Avith any chance of selling at a profit when all necessary charges have been defrayed. Poor samples of East Coast are offered locally, but really firstclass lines are very scarce at present, and, Avhen offered, command good prices. Supplies of gum should noAv increase, as the high rates paid are causing settlers to put in any spare time digging. The Stock Exchange has been quiet during the past Aveek Avith the exception of a steady demand having existed for National Bank shares at 41s to 41s 6d, and an increased inquiry for shares in insurance companies. This latter is no doubt due to the fact that there seems little likelihood of anything in the shape of State insurance being undertaken this session. South British Insurance shares had an advance of from 2s 6d to 3s per share durin? the Aveek. NeAv Zealands also improved in price and a demand set in for Nationals and Standards. Gas stocks declined a little in price and Avere not inquired for during the Aveek. Coal shares, Avith the exception of Hikurangi, were Avithout buyers. In shipping stocks Devonport Ferry shares had steady buyers at 33s 6d Avith sales at 345. Northern Steam Avere dealt in at 6s lOd. Mining stocks generally had little attention during the Aveek. Amongst cheap stocks Bay Views and Imperials had steady buyers OAving to developments in the mines. Upper Thames stocks had the best all-round demand, but on the Avhole little business Avas done on the Exchange owing to there being three race meetings' and one holiday since last report. Wheat. —OAving to the carniA-al this Aveek in the South very little grain has changed hands. What feAV transactions there were took place at fully last Aveek's prices. Referring to the Avorld's Avheat crop "Money" states, " During the past tAvo seasons, the position of this all-impor-tant article has been contemptuously treated.- Dealers throughout the Avorld had become so familiar' with abundant supplies and loav prices, that the rise of 1891 Avas entirely forgotten, and stocks had been allowed to fall to a level never before reached. At the commencement ot the cereal year on September Ist our total available supplies Avere actually not sufficient to provide for four Aveeks consumption, the quantity under our control being only 2,130,000 quarters, as compared Avith 3,245,000 quarters last yeai, and 7,350,000 quarters in 1893. The shortage would not be of such serious import Avere it that only our o.vn dealers and millers had been endeavouring to copy the example of the foolish virgins ; but stocks all the Avorld over had oeen alloAved to dwindle to a dangerously loav level, and on August Ist the Avorld's visible supply, Avhieh then amounted to 8,980,000 quarters, Avas not half as large as in the corresponding period of 18%, and compared Avith 20,326,000 quarters in 1894." Foavl wheat is difficult to sell OAving to the comparative cheapness of maize. Bran and sharps continue very dull of sale notAvithstanding the loav prices asked. Flour. —Fair sales and big deliveries are reported for the first of the month. Potatoes.—About 1,400 sacks arrived from the South this Aveek. The market is easier OAving to parcels being offered at loAver rates in the South. Prime samples are noAv offered at £3 to £3 5s per ton ex store.

Oats. —The local market shows no alteration, but a slight advance is reported from the South, where stocks on hand and in the country are by no means large for the time of year, especially when one takes into account the fact that oats in Canterbury are in short supply. Oatmeal has been reduced in price 10s per ton since last report. Maize is in short supply this week, only 100 sacks being received ex Waiotahi. Further shipments are expected by the Chelmsford. The price continues 2s per bushel for lines on the wharf. Onions.—Prime samples are now offered at Hd per lb. . Cheese is likely to be cheap, as advices from London indicate a very poor demand this season. Butter and Eggs.—Supplies^ of butter continue very heavy, and prices consequently continue low, with no immediate prospect of any advance. Stocks of keg butter are also increasing, as there is very little demand even for fresh potted, while old is quite unsaleable. Eggs are unchanged in price, but a little better demand set in this week.