COMMERCIAL.

Auckland Star, Volume XXX, Issue 212, 7 September 1899, Page 3

COMMERCIAL.

Iflii; i ''Auckland Star' Office.) |»! '' Thursday. '^Business generally has been quieter daring the pas'- week, the activity caused by the orders for the first oi: the month having ceased. Inquiries were received from the South since last report both for corn sacks and wool packs, an evidence that supplies hre short throughout the colony at Present, consequently the advance in tjrice is likely to be maintained. Van &outen's cocoa is now reported extremely scarce, llice has moved oil" more freely during the week, and it appears as if the market for this Particle has touched bottom. More inquiry ia reported for American canned fruits. The agency trade generally is reported brisk, with an excellent demand for B. and P. cornflour and Goodhall's custard powder, the market being at present bare of the latter article, but supplies are. in the Indraniayo. Free sales are reported this week of Nixey's knife Dolish and black lead. * Several valuable city properties changed hands at auction this week. Two single storey shops and dwellings -it the comer of Edinburgh-street ami Karan°"ahape Koad sold for £1,525, and as the buildings are by no means pew it means something near £30 per foot for the ground. A section in Hobson-street also sold for .CMC.:: 10/, and quite a number of other properties in less prominent positions changed hands. The foundations are bow being put in for a block of brick buildings fronting Albert-street near the Harbour Board offices, and a fair number of dwellings are still m pntirse of erection about the city. At the meeting of the Harbour Board this week it was stated that the Colonial Sugar Refining Company contemplate considerable extensions to their operations at. Chelsea, winch if absolutely decided upon will involve an expenditure of about £10,000 and result in. increased employment feeing given. The kauri gum market is quiet, and this time it cannot be attributed +o over-production, as supplies show a considerable, falling-oil: this month. Already a number of Austrians have <r On e away, and it is rumoured that Sthers purpose following their examine which should mean a iurtnei curtailment of the output, of gum. The present dulncss of the market is, [however, partly attributable to the fact that no vessel can be on the berth to load gum for New York before about the middle of October, as •the next to arrive has not yet reached Wellington. The tlax market shows no change worthy of note. Business on the Exchange has continued quiet, throughout the week, She transactions that have taken place in mining stocks being mostly the result of concessions on the part of holders. The exception to this was the May Queen, buyers for these shares having advanced from 5/9 to •6/4 in consequence of rumours Oi picked stone being obtained in the mine, and also because authoritative information was given that the Company has still about £ 10,000 to credit, which dispelled some; lurking tears that reconstruction might take place the same as has already been the case with a number of English mining companies. A better feeling existed as far as standard stocks were concerned, buyers of N.Z. Insurance advancing from 58/6 to 60/, while 98/ was ottered for N.Z. Shipping, and 21/0 for Taupiri Coal. Auckland l»as and National Bank shares also had Steady inquiries. Potatoes: Supplies have not been heavy during the past week, and the demand was equal to absorbing shipments from the vessels' side. A good demand is reported for Derwent seed for the main crop. In the South the supply of potatoes is still reported to be in excess of requirements. o'its- The local oat market is practically unaltered. In the South the market is still depressed, shippers not being eager to buy, knowing the crop was a heavy one, while farmers are unwilling to sell at present low rates, when there is a possibility that there may shortly be a demand for the CaWheat meets with only ordinary flemand at present, as the position of the market at the moment, does Hot. tend towards speculative buying. Fowl wheat is in fair demand. Bran and sharps are dull of sale. Flour continues dull of sale. Maize: Heavy shipments of maize .were made toSydney this week, over s>ooO sacks being sent away. Ihe new vessel of the Northern Steamship Co the Waimana, made her first trip, and brought back 1,400 sacks ot maize. Another SGS sacks were brought up by the Waitangi and 90 sacks in the two irips of the Waiotahi. The market price has remained firm at 2/3 ex wharf. In the maize growing- districts settlers are now busy with their crops, and the returns are oven better than was anticipated. In some places the yield ■was as much as 100 bushels per acre, Mid the average is estimated to be as 3iigh as SO bushels. Another year like •Miis will puit the new settlers in, the maize growing districts in a good position. Qute recently as high as !£l6/5 per acre was paid for maize growing land at Whakatane, and at Opouriao there were no less than 40 applications for a 22 acre section belonging to the Government. Whether the Sydney demand for maize Will continue remains to be seen, as maize from' America can be got, it is stated, at 2/4 and 2/41. , Butter and Eggs: Large supplies of eggs continue to be sent m. but as the bakers are putting them down tor Christmas, and there has also been export to Wellington during the week, stocks have not accumulated, and the prices remain unchanged, although the market "is at present a little uncertain, as one retailer was advertising his willingness to sell at Cd, while "another firm notified they were buyers at CJd. An improved movement before the end of the week is, however, by no means unlikely, unless the demand from Wellington falls away again. The butter market shows no change. Prime fresh dairy sells readily, and TaraTiaki factory is offered' freely at lOd. Keg batter is hard to quit, unless it "is fresh potted and of excellent ' quality. Ordinary farmers' keg is quite a drug in the market,' and is offered at very low rates.