COMMERCIAL.

Auckland Star, Volume XXXII, Issue 50, 28 February 1901, Page 3

COMMERCIAL.

"Auckland Star" Office, Thursday.

Trade generally is reported quiet, buying being restricted to meet immediate requirements, an evidence of . absence of buoyancy in business. In this respect business in New Zealand is only following existing conditions elsewhere. Advices from the Continent point to depression j_n trade in Germany, while accounts fxom Lonclon are also not of a reassuring character. Keferring to the state oi trade, in England, Messrs Le Lissa, Sum* and Co., under dale of January IGth, point out that iv the iron and steel trade, for instance, during IUUO, the CcUitinent aud America were uuusualiy busy, and it is a world-wide known fact that all orders for railway materials, locomotives, etc., were picked up by America. The circular . adds: " This can hardly be wondered at when coal has risen S/ per ton on the average, aud it is said that every i shilling in the rise of coal means 5/ per ton in the cost of iron."' The same writers, refsTring to the unan- ! cial outlook, state: "AH financial mat- ■' ters Lave been especially badly ham-j peied by the enormous war exoendi- . tare, the cssation of gold production iv South Africa, and ■ all its consequent evils in the shupK. of restricted trade and shrinkage in securities. We have said before that w iv expected to see cheaper money in tlie early part of this year, but we cannot sec it immediately. We are inclined to think, however, that the end of this month or next will see the worst of the positnn, and we look for much better things in the coming spring, wtth easier money. We think the lowest prices of Australian products have also been reached, and that wo shall see better times for,most articles." During the past, week the Hi-nit- j • taka arrived with a large cargo _"or this port, which lias tended to replenish many lines that were gettin.g in short supply. A scarcity of Bell's.' vestas is reported, recent orders boding filled by instalments. The marJcet is now bare of higher grade tin.ned salmon, a rather peculiar position for the Lent season. No fresh supplies of Vancouver salmon can be obtained for some months, and the only chance at present is to pick up small parcels in Sydney at high prices. Owing to the probable imposition of a tariff by the Federal Parliament in Australia, exceptionally heavy stocks of most lines are at • present held in Sydney, the importers standing to make large profits when the tariff is imposed. At the same time the rapid decline in the price of metals is seriously affecting those holding heavy stocks. Instead of-ad-vances in prices taking- place daily, as was the case at the beginning of 1901. the feature now is a daily fall. Advices from Japan state that for some time the tendency of the rice market was downward till within 2/0 of the lowest price of the preceding year was reached. Tt had been expected that the crop would be 20 ocr cent, above the averacre crop of ten years. Latest results, however, pointed to S per cen+. below a normal •crop, and prices firmed in conse"quence. Tt is a'so reported that the high prices ruling for fungus in Hongkong were entirely the result of the quantity sent forward, and any • lieavy shipments will force prices downward. Now that the 'Chinese New Year festivities are over a decline may be looked for under any Locally, the kerosene .market is in a peculiar position, as \what appears absurd competition is taking place with the object of making sales for delivery from the Hiram Emery upon the arrival of that vessel. In the face of a rising market in New York, owing to probable importation and sain of Borneo kerosene in the Australian market, the Standard Oil Company, in order to meet the competition, have decided, for the present at least, to ship oil on their own account to Sydney, Melbourne, and Fremantle only, using _ these ports as bases for distribution in New South Wales, Victoria, and West- ■ iim Australia, and presumably 'Queensland and Tasmania, leaving free for the present Adelaide and New , Zealand ports. It is therefore probi :able that the fear of a tariff fight betwen two big oil companies is making importers disinclined to hold large stocks at the present time. At ■the same time it is understood that Jit is not the intention of the Oil Company to cut prices, sell under market ' rates, or in any way disturb vested •interests, unless foi-ced by the Borneo •competition to. do so. The kauri gum market continues in an unsatisfactory condition, the tend- , eney towards lower prices being evident irom the fact that some holders are trying to sell at lower rates, but buyers are still disinclined to operate in the face of the condition at foreign markets. The timber trade is still ' brisk, and builders are fairly busyThe Exchange has also suffered from the general dulness prevailing during the past week. The exceptions were, however, an advance in Talisman Consolidated and Komata Reef shares, both of which are quoted higher than at last re.oort. Waihi stocks had little " «nqidry and few sales this week. A dema ud .has been made by the Miners' Union fo'C higher wages, which will prohabiV he referred to the Conciliation Bo- '-rd. Thames and Coromandel stocks h- ul little attention. Standard lines met W&b more enquiry, but prices show 7ed little alteration. Potatoes :_ we ntfw being offered very freely, and _. we worth from £3 to £3 10/ per ton. The yield of the main crop is good, but the quality on the average is not tV to the usual standard this season. , . . „ „ ,„ Oats: The loci * market v well supplied, and prices . *h°w no' change. # Maize: About l'4oo sach\ oi ™ize were sent up this week, oi g 1? a portion was sold fc>r export to at 2/2*. At present the price «SKea • for lines on the wharf is 2/3. Onions: All good Lines of onions C^ heing, bought up this week, with .' view to export to Blonolulu aud San Francisco. The price under these cir- I cumst'ances is £ 6 to £ G 10/ for really j good lines. Bran and sharps are in good demand, with short supply. Flour: Only ordinary sales are reported.

I Fowl wheat is scarce, and any offering meets with good demand. Milling Wheat: The position of the wheat market is unaltered. Most probably there will be no alteration in prices until the new season's wheat is actually on the market. Butter and Eggs: Prices for both butter and egg-s remain the same as last repotted. Eggs still continue scarce, and occasionally a penny pet dozen advance on the. wholesale rata is paid to secure a line urgently required. Fresh butter is still coming in freely, and difficulty is experienced in dealing with the stocks of medium quality that are put on the market. Speaking at the annual meeting of the Chamber of Commerce yesterday, the President (Mr Samuel Vaile) mentioned thai the output of buffer from the Auckland district had been fully fifty per cent, more than that of the previous roar. Cheese: The samp authority states that the value of choose exported rose from £3111 in the previous year to £3414.