COMMERCIAL.

Auckland Star, Volume XXXII, Issue 20, 24 January 1901, Page 3

COMMERCIAL.

/•-"Auckland Star" Office, Thursday,

The ordinary course of business was interrupted this week by a national sorrow, consequently there is little to note in the way of trade changes as far as distributing houses were concerned. Although light stocks locally keep the kerosene market firm, elsewhere there is a feeling of uncertainty as to the future. It is thought in America that freights will shortly rule easier for a short period, and considerable tonnage has been loading owing to concessions made in rates to fill vessels on the berth. On the other hand, producing fields show a falling off in the output of the raw oil, and it is thought some advance will be made early this year in the price of refined oils. The Borneo scheme is also a disquieting element. Some foretell the immediate buying up of the Shell Company by the Standard Oil Company, which would mean prices being maintained. There is also the chance of a fight between the companies, which would drive prices down and benefit consumers. The Shell Company's wells are near the Australian market, and if there is to be a war of tariffs, which is not at all unlikely, it will be kept within something like commercial bounds, in which case it may be prolonged indefinitely. An upward tendency is reported in the tea market owing to reports from Colombo of an unfavourable change of weather in the plantation districts, which may shorten supplies, and in Calcutta the quality of the crops mow coming forward shows a falling off. Tbe short crops of currants and sultanas have resulted in cable information being received from London of another rise of £3 and £5 per ton respectively. The market for rosin is expected to rule high for some time, as low grades are scarce and dearer in America, while medium quality continues firm. In the States the company declines to make concessions in the price of wire although English and German makers have already done so. Advice has been received of a decline in the price of turpentine. Owing to a short crop of broom corn in America prices for brooms are very firm. The timber mills are as busy as ever, the demand for export 'being brisk. As the American timber market has advanced to a point that is expected to materially interfere with export trade it is probable that kauri will continue to have good demand on the Australian markets.

The kauri gum market continues dull, and prices are merely nominal. Business has been quiet on the Exchange during- the week, both in respect to mining- and standard stocks. A transaction was however reported in Colonial Sugar shares at £40 17/. In mining stocks a little more disposi-! ■tion was shown to deal with Thames lines, owing to the Big Pump having started operations again, due to the prompt action of the newly elected members of the Thames Drainage Board. Waihi stocks were not in such good demand this week, although prices were fairly well maintained. Chelmsford shares advanced to buyers at 3/7, the highest point yet reached by that stock. May Queen Extended shares also firmed a little. Most other lines were unaltered. ' .„ , Wool: Under date December 21st our London correspondent writes: Reports from the manufacturing districts both in Yorkshire and on the Continent have recently been of a more favourable character, while there has been more enquiry here for the raw material, with the result that Bales have been effected at prices showing an advance of from Id to |d per lb, upon fifth series closing rates. At the Liverpool sales of Kiver Plate wool held on the 19th inst, moreover some 3200 bales changed hands at prices for merino and fine crossbred which so far as a comparison can be made ruled about 5 per cent, above October London rates. Medium qualities of the latter were unchanged, while coarse realised rather less money. The New Zealand Loan and Mercantile consider that the indications on the whole may be regarded as more encouraging than was the case three weeks ago. Flax: Regarding the flax market, 'our London correspondent writes on December 21st: With renewed weakness of the Manila market during the past fortnight, tlie demand for New Zealand has slackened, and prices are fully 30/ per ton lower, some small sales having taken place at £21 10/ to £22 for good fair on the spot, with some private business at even easier rates, the particulars of which have not been reported. The sales include about two hundred bales at £21 10/ to £22 cf. and i. for good fair. There is still some demand for October-becember shipment, but January-March is offered at £19 10/ c.f. and i.

Potatoes: This market has a downward tendency, the present price being £4 10/ to £5. Potatoes are now being offered very freely, the mam crop this year having proved an exceptionally good one, the yield being jthe best for many years. Fowl wheat is in strong demand.

Milling wheat continues quiet. Bran and sharps still maintain the Jrise, as stocks are short. Flour: Sales are only of a hand to mouth description. Oats are firmer, an advance of a halfpenny having taken place since last report. The new crop will, however, very soon be on the market, consequently buying at present is only to meet immediate requirements. Maize: Arrivals were very small .his week, only about 300 sacks being sent in, all of which was. shipped to Sydney, as well as the Aotea's cargo, making about 1000 sacks exported. In consequence of this the price advanced to 2/5 to 2/6. _ Onions: Fair supplies are offering, and the first shipment of the season was despatched to Honolulu this [week by the mail steamer. Chaff is very scarce, all stocks now beino- pretty 'well worked out. This time last year fully three months tetocks were in hand. Butters and Eggs: Butter has advanced Id per lb. Although the price of butter rules low here, the position in London is satisfactory irom an exporter's point of view. Messrs. W. Weddel & Co., under date of December 21st, report: . The cold stores in the country towns and ra London are being rapidly depleted ol

butter, while last year at this time they were well filled. Thus retailers and others will have to come on the open' market to supply their current wants, and this will materially help in clearing off the large arrivals during the holidays. The total import of all kinds of butter for the last four weeks is over 2000 tons less than during- the same period last year, so that prospects look favourable for good prices." Eggs continue plentiful, and prices are unchanged.