KAURI GUM MARKET.

Auckland Star, Volume XXXII, Issue 55, 6 March 1901, Page 2

KAURI GUM MARKET.

AUCKLAND, Wednesday.

The kauri gum market has remained ! very dull throughout the week, buyers simply holding off. Although stocks held locally are large at the present time still the proportion of tlie gum is of poor grade, for which tnere is absolutely no enquiry. As soon as the Hiram Emery, how 120 days out from New York for Wellington, arrives, probably one-fourth of the present stocks will "be shipped to America. Another matter that must not be lost sight of as a factor in the market for the future' is that at the present' time 'there is a strong demand for labour, owing to the amount. of earth work being done, both in connection with bringing in .the water supply and other jobs. This, of course, means less chance of men digging gum at such low prices when more remunerative Work can be obtained. •Apparently, too, the Austrians are getting dissatisfied witirthe present position of affairs, as forty-one went away from the colony during the week. IE these various factors result in lesseninf? the output of gum it will give time for stocks held locally andinLondon to be worked off. In. the meantime there is no hiding the fact that the market is very weak. Supplies of grim for March, up to date, total 103 tons. ... ' The following are nominally*current quotations:— _ Poor ordinary £35 to £i? Fair ordinary.. £45 to £50 Good ordinary. £52 to £«_ Superior ordinary £70 to £80 East Coast..."." £75 upwards