COMMERCIAL.

Auckland Star, Volume XXIX, Issue 64, 17 March 1898, Page 3

COMMERCIAL.

Auckland Star Office, , Thursday,

-1 Business generally has been rather on I the quiet side during the past month. One II r two big fires followed by the customary '■% °le of salvage goods, coupled with the '- { uliarities of the weather this summer, I tended to the disorganisations of trade I'M ,] roU nd, and drapers particularly seem "•! re inclined to clear existing stocks be- '<? buyiD" afresh. Trade movements M jfcoW li«le w°rthy of s Pecial note during 1 the P*3 * week. Stocks of kerosene are I t+incr low, and the arrival of shipments I t Abiel Abbott will be very welcome. A I ood demand exists for 48 inch cornsacks, I are at present somewhat scarce. I Eastern goods continue firm in price. m Trade with the country districts is good. I n^ber mills are still busy, but in most I cases -working night shifts has ceased. I nij, c Australian markets are reported U rather overstocked at the present time. 1 j. e jjjjiig on the Kaipara River are now I awaiting freshes to bring down logs, some 1 Jf them having been compelled during the ; past week or two to cut kaihakatea 1 y- m <r to the scarcity of kauri 1 lo«rs "in the Kaipara at present. Hound I Auckland district logs are plentiful 1 and cheaper than they have been for the Hi la3t 18 months. Thi's is the outcome of I better prices oflered some time ago, I ff jiich, coupled with the remarkably dry ■M 6U mmer, caused the kauri to be felled in lar^e quantities and brought down to the I Tes sels by bullock teams and traction H en aineß. it would now seem as if the cutI tinff of kauri had been somewhat overdone, I and owners of logs are ready to sell to I local mills at less rates than they were I billing to accept a few months ago. The demand for kauri for the goldiields I j3 not so brisk as it was, owing H to the fact that a number of the new batteries have been completed, added to 1 which a good amount of rimu and other I timber is now being sent down by train 1 from Rotorua. An amount of building is I s tj]l going on in and around Auckland. I In the city itself several large blocks of I shops and some stores . are in course of 1 erection, and quite a number of dwellings I of the better class are being erected in the I suburbs, so that there is a good demand I locally for timber and other building I material. II The kauri gum market has continued H brisk throughout the month, and the prices ] have been maintained at a high level in '] spite of the fact that on the average the | gam sent in has been of lower quality. U During the month news was received by I cable from New York of the. proposal to in- ', elude kauri gum amongst the articles on ; which duty must be levied, but this did not I in any way affect' prices locally, buyers no I doubt thinking they might get their gum 1 into America before the tariff' came into ~?\ force. The large number of Austrians now I on the fields has resulted in heavy supplies of low grade gum being sent in, as these 1 visitors prefer to work the swamps in dry 1 summers. During the past week alone no : less than 50 Austrians arrived and went on ;to the fields. The quantity of good white ! j gum now being sent in continues very | small, consequently there are absolutely no stocks of better grade in hand locally. During the month there has been an ex- ! cellent and steady demand on the Exchange I for standard stocks, the only neglected lines being insurance shares, which have suffered in consequence of the serious fires ?: of the past few months, both here and else--1 where. At the same time, although buyers I cf insurance shares have held oft1, holders I have not shown any disposition to sell at | any great concession. National Bank shares have had steady demand at 45s 6d, ) with transactions at an advance upon that | price. River Plates advanced Is 6d per | share during the month, and holders | now decline to quote a selling price. I Gas shares all round have firmed 1 in price. Auckland old issue were I dealt in at £14 los, with further | buyers at a shilling advance. New | issue sold at £11 3s, and were still wanted J at £11. Gisborne Gas advanced from 37s I 6d to 40s, and Thames Gas from 38s to 40s \ since last report. Coal shares firmed all I round, and 9s wpi- ottered for Northern I Boot. Another sSvck that had steady | inquiry was New Zealand Drug (paid-up issue), for which 4Ss.6d was ottered, and ■ 33s for contributing, being a good premium iin each case. In mining stocks there had been few advances during the month, the ; most noteworthy being in Waitekanris, ! which shares are now fully 10s dearer than I they were at last monthly report. This is due to a decided improvement in the mine, as shown by the increased average value per ton of the ore treated this month. Waihi - Silverton shares declined in value owing to the remodelling of the Company, but since that matter was decided there have been free transactions in these shares at prices ranging from 4s 6d to 5s Bd, but later on sales were made at about ss. The new 100-stamper battery of the Waihi Company got to work this month, but so far a cleaning up has not taken -place. With 190 stampers working this Company should show a great increase in the output of bullion in the future. Most of the batteries in the Ohinemuri district have suffered during the month, owing to lack of water for driving power, bat as we are now into autumn this state of aft'airs should soon be altered. Several of the mines in the Coromr.ndel district are shaping very well. The Royal Oak continues to give satisfactory yields, also the Hauraki and Hauraki Associated. Tributers in the Kapanga mine continue to get rich hauls, one party alone having got about £2,750 since shortly before Christmas. Many of the smaller companies have also had satisfactory crushings ' this month. The fact that three banks are balancing this month may perhaps have had something to do with the quietness on the Exchange. Maize continues in short supply, a>nd the market is still bare, the result being that 2s 8d was paid for lines on the wharf. Doleful accounts continue to be received regarding the prospects of the new crop in several of the districts. Onions are still scarce and worth from £6 to £6 10s per ton. The first consignments arrived from the South this week. Fowl wheat.—The scarcity of maize has created a brisk demand for fowl wheat at , lull prices. Bran and Sharps are selling freely. Kour: Heavy sales are reported this week and local millers have been very busy delivering. Wheat: Owing to the disturbed state of political matters in Europe and the East both farmers and millers in this colony are disinclined to do business at present, each preferring to wait until the. war excitement has either passed away or the position of affairs has been definitely ascertained. It was expected that the war scare would ?ave affected the wheat market more than 11 has done, but strange to say the latest cables seem to indicate dull mprkets. ■Ms would seem to augur that those in the °^t position to know the true state of affairs do not anticipate any war at the present time. Concerning Australian markets

Messrs John Darling and Sons, of Adelaide, report:—No important change has occurred in the wheat market during the past week, and quotations may be given as the same as were then ruling, viz., 4s 4Ad to 4s_ 5d per bushel at Port Adelaide. Deliveries are on a small scale, and in some districts millers are paying over the equivalent of Port Adelaide price, owing to limited supplies. In New South Wales a quiet tone has prevailed. The amount of business passing has not been large, and although the prices for prime wheat are fully maintained, yet inferior grades are difficult to move, the trade appearing to be fully stocked, and will only buy at a reduction on late rates. In Victoria markets are quiet, with the trade showing very little disposition to increase their holdings but rather to operate from hand to mouth. Values there may be given at 4s 3d to 4s 4d per bushel for delivery in Melbourne. Oats show no alteration since last report. Chaff has advanced from 5s to 10s per ton during the week. Potatoes.—Good samples continue scarce and last week's prices are maintained. Butter and Eggs.—No change has taken place in the price of butter during the past week. Eggs are dearer, having advanced threepence per dozen since last report. At this price shipment to Wellington cannot take place unless that market advances in sympathy.