COMMERCIAL.

Auckland Star, Volume XXIX, Issue 206, 1 September 1898, Page 2

COMMERCIAL.

Auckland Star Office, Thursday

Trade was a little quiet during the earlier part of the month, but during the last two weeks a marked improvement has taken place, which would seem to point to the fact that the larger stocks laid in during the War have been reduced, and retailers are now beginning to replenish. The sudden termination of the War upset the calculation of many who went in for a little speculative buying in goods likely to be affected if hostilities were prolonged. This was especially the case in respect to kerosene, and stocks are now heavy for the season of the year, the result being that holders are willing to sell at a considerable concession in order to clear large parcels. At the present time all the leading lines are fairly well stocked and some that are on the short side will be replenished by shipments due by the Hawke's Bay at the end of the week. Bice continues linn in price, being still worth £26 per ton duty paid. Circulars to hand by mail from San Francisco houses notify a general advance in the price of American dried and canned fruits, no doubt partly due to the heavy purchases made by the War Department earlier on. Dried apricots have advanced 2d per lb, peaches Id per lb, and canned goods are correspondingly dearer. Cocktail salmon is another line in which an advance has taken place. The excellent samples of dried fruits now being sent over from Mildura will to some extent prevent any sharp advance on this market, and most likely those goods will in some degree replace the American article. Good business continues to be done in requisites for the building trade, as numerous dwellings and stores are still in course of erection in the city and suburbs. The Exhibition buildings ate now well on the way towards completion, and a staff of workmen are also engaged forming the bicycle track and generally laying out the grounds. The timber trade continues brisk, as there is a good demand for local consumption, in addition to the steady export to Great Britain and also the Australian colonies.

Although prices for some grades ot gum are lower than they were a month ago there has been steady business and rates for better grades remained linn in spite of the fact that supplies of gum generally have been pretty heavy. This week another 75 Austrians arrived en route for the gum fields, and while this continues any falling off in the output can hardly be looked for. Rescraped gum remains high in price, but East Coast is a Jittle easier. This is clue to the fact that the orders in hand fix the limit a little under what holders consider the true value, and as supplies of this grade are not heavy no disposition is manifested to accept lower rates. At present tlie lower grades of gum have least demand.

The mining industry look's much more promising, in spite of which fact business on the Exchange has been dull throughout the month on the average.. That the outlook is, however, promising is demonmonstrated by the great increase in the gold returns 'this month, the total being over £47,000, with still some returns to come in. The output from the seven leading mines in the Ohinemuri district alone tot up to nearly £40,000. The Woodstock return was a small one, but as the new vanners have arrived from San Francisco it is expected that future cmshings will show decided improvement. A feature of the returns from the Thames and Coromandel this time is undoubtedly the number of yields obtained by tributera and from small local companies which have all contributed their quota to the general increase. Last month no returns appeared from the Thames district, as one or two came to hand too late, but this time the output from that section of our goldlields amounts to £3,G7S 14s 4d, of which £1,195 6s Gd was contributed by the May Queen of Hauraki Company. Although as already indicated business on the Exchange was dull on the average, still considerable attention has been paid to Great Harrier slocks with frequent sales at advancing rates. Latterly tlie important developments in the Waihi mine caused attention to be paid to shares in surrounding companies. Grand Junctions had steady inquiry at Kis, and Waihi - Silvertons at ss,' while there was also enquiry for Waihi Consols, Extondeds and Souths, the latter having nearly doubled in price. Alpha shares have also been in steady demand throughout the month and also Crowns, but generally the prices offered were not up to holders' ideas of values. Standard stocks had excellent demand during Bh^ month, and many lines advanced in price, the most notable instances being South British Insurance, a rise from 48s to 51s 3d, N.Z. Insurance from 63s to 655. Slight advances "also took place in National and Standard Insurance shares, Hikurangi Coal, Devonport Ferry, Northern Steam and Auckland Gas, while no stocks showed any decline upon the prices ruling a month ago. Dividends were declared by the Waihi G.M. Company, 2s per share, Thames Gas, Is 3d, and Co-operative Boot, 7 per cent. Maize. —The Aotea arrived this week with 650 sacks of maize, and the market weakened a little, some lines being sold at 2s 6d. Tho Waiotahi brought 700 sacks and the Ngunguru 400, and as supplies did not seem "too heavy, there being demand for Wellington, the'market recovered, and 2s 7d is now asked for lines on the Wharf.

Oats are still firm, with no appreciable ] change in price. There is a very strong ! demand for seed oats of all kinds and especially for short sparrowbil Is. Wheat.—This market continues without alteration, and very little business is reported, as millers only buy for immediate requirement. Fowl Wheat meets with little enquiry. Bran and Sharps are dull of sale. Flour. —With the prospect of lower rates 1 ruling for wheat, bakers are not inclined to lay in much il6ur, consequently trade is dull in this line. , I Potatoes are remarkably scarce and in consequence meet with strong demand, and £8 10s is asked for prime samples. Seed Derwents are now worth from £6 10s to £7, having advanced 10s per ton this Aveek. Kidney seed are still asked for, but few can be got! The fine weather during the last few days has caused renewed inquiry for all kinds of early seed potatoes.but seedsmen generally have little stocks as it was thought the season had passed by. Onions. —The mail steamer brought down 1,436 cases of Californian onions this ; trip as compared with 800 for the corres- ! ponding shipment last year. These arrived to a very bare market as the rel maining Southern consignments had been 1 cleared for shipment to the Islands. i Californian onions command £15 per ton.

Grass Seed.—Orders are beginning to be sent in for grass seeds for spring sowing, but of course the volume of business is not large at this time of the year, the bulk of operations in grass seed being doiie in the autumn.

Butter and Eggs.—There has not been any change in the price of these articles during the past week, but eggs have been sent in so freely during the last few days that unless stocks are soon lessened a fall of one penny per dozen must take place. Bacon and Hams are in somewhat short supply, and inclined to firm in price.