COMMERCIAL.

Auckland Star, Volume XXVIII, Issue 298, 23 December 1897, Page 2

COMMERCIAL.

Auckland Star Office, . Thursday. Trade has been good distributing houses during the past week, but retailers bo far have not had business up to anticipa tions. During the last day or two however people have been coming into town prettffreely, and as both g^ff^l timber mill employees have had a good year, no- doubt the shops will do good business during the next couple 0* weeks. Wholesale houses report a good all round demand has existed for Christum goods. Goodhall's jelly squares, Yorkshire Kehsh, and all brands of cornflower have had _arge sales. Dried fruits of all deaenpbon bave bad especially good demand as fresh fruits are still scarce, although a few early peaches, cherries, grapes, red currants, and gooseberries may be seen in the fruiterers windows Dried prunes are very scarce both in case and jar. Nestles milk is meeting with good sales, and all descriptions of canned goods have had great demand latterly. Wines, bottled beer and whiskys have also sold freely in anticipation of the Christmas trade Coleman s starch is reported amongst the lines in short supply just now. Rice maintains the recent advance, and reports from Hongkong to hand by mail state : iiie market has again moved upward as the yield of the new crop appears to be very unsatisfactory in many districts, and prices are now on a level that has never been reached before." .. On the local market fungus is worth 3d per lb. The Alice has arrived all right at Wellington, and will in due course bring on supplies of kerosene and other American goods to this port. The Star of Victoria is due here next, with a large cargo or general merchandise. The glassware factory recently started in Wellington has a local representative in this city. All kinds ot bottles can now be made to order m the colony and branded as required, without the loss of time involved in sending Home orders. The year closes with prices ruling higher for kauri gum than at any previous period in the history of this important industry. The advance in price during the past few months means a gain of some thousands ot pounds to this end of the colony, and what is moreinmortant still is thefact that notwithstanding the high price asked the demand so far has been quite strong enough to prevent any stock from havin« accumulated locally. This improved stale oi affairs is entirely due to the excellent, demand lor the American trade which resulted in -\'ew York, practically ruling this market instead of London. At the same time the fact must not be lost sight of that present rates can scarcely be maintained for any length of time, and those who sell early will sell well. Timber mills have had a good year, making pretty well the third in succession. Matters are riot quite so brisk as they were, but as soon as the holidays are over local consumption will no doubt increase again, as quite a number of building jobs are to be undertaken in the city and suburbs. The demand for timber for export still continues good as far as the.English market is j concerned. As a number of batteries are j to be erected on the goldlields during the next few months this will also increase the consumption of iirst class timber. The Exchange presented the somewhat peculiar feature this week of having a distinctly upward tendency just before closing for the Christmas vacation. The most important advance was in Moanataiari shares, which rose from 6s 3d to 9s 3d. May Queens also advanced to buyers 6s. Victorias, Imperials and Grace Darlings all rose from 3d to 4d per share, and many other mining stocks showed an upward tendency, which points to a more hopeful feeling prevailing. Should this continue after the holidays, 1898 should see much- better business than has been the average of the past year. The fact that our gold returns are increasing each month no doubt weighs with investors. Milling Wheat.—Owing to the continued dry weather in the South interfeiing with the prospects of fcli_s wheat crop, the markets for this cereal throughout the colony are somewhat firmer this Meek. Larg. quantities of wheat arrived from the South this week by the Poherua for Auckland Killers. Concerning the prospects of the wheat crop in South Australia, Messrs John Darling and Son report:—" Reaping is now general in most of the early districts of South Australia, with varying results, but usually more or less of a dis-' appointing character, both as to yield and quality. In some districts moderate yields are being realised, and in others very poor returns ; but on the whole the grain shows indications of being more or less ripened prematurely, and the quality is not as good as the preceding year. In Victoria the crop prospects, we fear, are equally disappointing to those in South Australia, and, although it is too early yet to say what the opening price will be,' there seems to be some feeling that nothing under 4s 9d will be the price in Victoria for some months to come." Fowl wheat is meeting with more inquiry latterly. Bran and sharps are selling freely, as feed is becoming scarce owing to the prolonged dry weather. Flour.—Fair sales and heavy deliveries are reported from the local mills. Maize.—This market has fallen during the week, owing to the fact that the 1,200 sacks by the Waiotahi arrived just an hour too late to catch the Sydney steamer ; consequently the sale was lost and the whole parcel left for the local market. The Chelmsford is due with another cargo, and also the Terranorawith a full load. Prices have declined this week from 2s 5d to 2s 3d, and Sydney buyers state that market is now easier. A private cable received yesterday was, however, more reassuring, as the market was described steady and likely to improve. Oats.—Several farmers in this district have already commenced cutting the oats, but as the crop is very light most of it will be turned into hay. The market for oats in the South remains firm at last week's quotations. Grass Seeds.—A little speculation has been going on in the South in rye, a rise of fully 3d per bushel having followed the increased demand. The reason for this sudden buying is the anticipation of a light crop in consequence of the continued dry weather. . Potatoes keep firm at about £7 per ton for prime kidneys. It is now certain that the early crop has turned out light this season, and with the main crop there is now a danger of second growth when the rain does succeed this protracted dry weather. Prices are therefore likely to remain firm for some time. 1 Onions: The market is glutted at present, both with onions from Victoria and also those locally grown. Hams and bacon are meeting with seasonable demand, the former being rather scarcer than is usual at this time of the year. Butter and eggs show no change in value this week, and although supplies of the former are not quite so heavy as they were, eggs are more plentiful than is customary at this time of the year.