COMMERCIAL.

Auckland Star, Volume XXX, Issue 158, 6 July 1899, Page 3

COMMERCIAL.

Auckland "Star" Office, Thursday.

Business with distributing houses has been steady during the past month. Trade with the Islands seems to be improving. Dried apricots and peaches are now practically unprocurable on the local market. A circular from San Francisco dated June 13 referring' to the fruit market states: "There is an unprecedented demand for fresh fruits from the East, which will gTfeatly curtail the output of dried fruits, and prices for the new crop will be much higher than was anticipated. The increasing- demand from Europe is also a factor which seriously interferes with low prices; furthermore, out of the 29 canneries in our State 2f> have formed a combination and enhancement of values is anticipated. The first load of dried apricots sold at fancy prices. The yield of apples and peaches will be very large, but of cherries, apricots and pears, owing to late ruins, it will be smaller than at first anticipated." The same firm report that the market for canned salmon is also extremely firm and prices have advanced considerably. Other advice states that the sardine outlook on the ((oast of Maine is not of the highest. Nevertheless, active preparations have been made for taking- the fish on a large scale. Most of the weirs in the Pasamuquoddy Bay region have been strengthened and enlarged, and if the fish rim at all there ja every reason for expecting- a large catch. The Continental Packing' Company, which report credits with almost complete control of the weir properties in north-eastern Maine, is actively engaged in getting its various plants into shape. Contrary to the original plan of the corporation, it ■will, it is said, operate this season about two-thirds of the factories it acquired, and with its fast steamship service to and from the ports of delivery will reduce the cost of handling the fish materially. Locally Van Houten's cocoa is again reported in short supply. . Advices from the East report a firming market for rice, and jj rices here seem to be on the up grade. The market is bare of cornsacks, but shipments are expected from Calcutta this month. Produce generally has ruled very low in price during the month. Potatoes have sold at very low prices, and supplies are sent in so freely from the South that it is evident the crop has been a heavy one this year. Chaff still rules very low. Oats are selling at a penny per bushel under actual laid down cost, owing to contracts made at cheaper rates for forward delivery. Flour is lower in price than it has been for some years past. Butter and eggs are. also cheap, and new cure bacon is offered at a halfpenny per lb cheaper than the prices asked for some time past. The timber ' trade still continues fairly brisk, there being \ fair demand for export, both to Australia and London. A considerable amount of building is still going on in the city and suburbs, and a contract was let this month for the erection of the new arcade in Queen-street, at a cost of £ 20,837.

Business has been steady in the kauri gum market during- the past month, but the only noteworthy chang-e in price was a slight'advance in the price of East Coast, supplies of that grade having scarcely been equal to requirements. Poor grade gum has not been sent in so freely of late, ■which has enabled stocks to be lessened. Good grades of gum had steady demand at full rates, and re-scraped is Tory hard to get hold of, excepting in *cry small lines. Some difficulty has Jbcen experienced by shippers in securing- space for export to IVew York, the demand being so large that in the case of two vessels the accommodation required could not be obtained. With the exception of a sharp advance in the price of Waihi shares and a. rise of 2/ in Waitekauris, there have not been many changes in the price of mining shares on the Exchange. The rise in Waihi shares was a good one, sales being made up to £8, whereas a month ago £7 was the rate ruling. Y/aitekauri shares sold up to 49/ as developments in that mine are very encouraging. Grace Darling shares had brisk demand throughout the month, resulting in an advance from 1/6 to 2/J. The issue of reserve shares in the Waihi-Silverton Company had a depressing tendency on the price of that stock, buyers holding off, while sellers were willing to take a lower figure. There has been free transactions in Majr Queens during the month, prices rising from 7/0 to 9/6, and then declining- again to 7/ when the rumour was circulated that the capital of the company was to be increased in order to take in the Cardigan ground, which adjoins. Bunker's Hill shares also had free sales owing to frequent patches of rich specimens having been obtained during the month. In Standard stocks Auckland Gas shares declined in price, old issue being sold as low as £13 JG/O, but as there ai-e ibuyers left at £12 14/ it is likely bottom has been touched. N.Z. River (Plate shares changed hands at 21/, and South British Insurance sold at 55/, ■while there have been frequent sales .of Taupiri Coal sharas at 19/G to 20/. Milling Wheat still shows an xipward tendency, the- market in the South being very firm. Advices from Lyttelton state regarding the wheat market there: "Very little prime wheat has been offered; a firmer tone has been given to the market by the operations of a buyer from the North Island mills, who took advantage of cheap freights offered to Auckland toy a sailing vessel. The vessel, however, will sail with only about half a cargo, as the quality required was almost unobtainable at the price offered, ■which was a shade over present quotations." The Canadian wheat crop appears to have been a good one. A report from Winnipeg, states:—May SO: It is estimated that 5.000,000 bushels of wheat are still in the hands of formers and 5,000,000 in the interior elevators. The weather for the.crop 3 is fine throughout the province. Sharps and Bran are in fair demand Dow that cold weather has set in.

Flour continues very dull of sale. Maize.—Supplies have been light this week, and what maize was sent up was eagerly sought after, with the result that sales were made at 2/5,

which is now the market price. The weather has no doubt in some cases prevented farmers from getting the engines to the crops, and a lot of maize is not plucked yet. The arrivals this week totalled 462 sacks. There is a good demand at present for maize for both New South Wales and Queensland, but the present price prevents shipments being made.

Oats. —Local supplies are heavy and prices are a shade easier, as forward sales are now being- delivered, and the advance reported a weeic or two ago in the South has not been maintained.

Potatoes.—The market is still overstocked and consignments are sold at very low prices, both table and seed varieties. Arrivals are far in excess of demands, and there does not .scorn much chance for improved prices; penpie in the .South are anxious to consign for this market notwithstanding the low rates ruling, which is evidence that, stocks are exceptionally heavy. Really prime samples realise £2 ">/ to £2 15/ ex stoi-e. The state of ihe potato market in the South may be gathered from the following extract; "There is no prospect of improvement in the market for Derwent potatoes, and buyers do not dare to operate even at.l 7/6 per ton at country stations. The latest advices from Sydney state that New Zealand potatoes arc now quoted at 40/ per ton, and that the Wanaka had arrived with over 8000 sacks, mostly from Tirnaru and Oamaril, and these, with the consignments by the Talune and Mokoin, have glutted the market for the present." Onions,—Supplies of onions continue plentiful, but still really prime samples are scarce, and command from £4 to £4 10/ per ton. Inferior onions are hard to sell. Butter and Eggs.—Colder weather has resulted in a falling off in the quantity of butter sent in, and the price has in consequence advanced Id per lb this week. Eggs remain unchanged in price. The Wellington market is still too low to admit of export, in fact lines sent down this week resulted in a loss to the shipper.