COMMERCIAL.

Auckland Star, Volume XXXII, Issue 207, 12 September 1901, Page 3

COMMERCIAL.

"Auckland Star" Office, Thursday,

-This has been a busy week at the A rves , and stocks of all lines have Tin replenished by the arrival of fVlma, Indradevi, and Star of *twTJaTd. The Ujina from Cal- ■+« is also due. Such items as £rt starch and mustard, Ma--1 Sic's meats, Nestles milk, etc., 2 to hand l* the above vessels. SSJ- of National candles, which tire low, have been supplemented. SJ r a lim«ed quantity of Nestles ___ arrived, and orders have to be Sited pro rata. The scarcity of Charted »51k has caused a run on ihe NeW Zealand milk, and this is 4* temporarily unprocurable. This v be regarded as one good effect fsthe present scarcity has given the l l milk canning industry a decided impettis. In connection, with the milk question it may be mentioned that a Danish chemist is said .to have Lceeded i« inventing a method for producing a durable mi k powder from fresh unskimmed milk, without the addition of any foreign substance. The process, which is patented in various countries, is simple . the extreme; and its efficiency is Stated to have been satisfactorily demonstrated. An official analysis states that the milk powder contains the same component parts that are found in fresh cow's milk* with the exception of the greater, part of the water, and that neither preservative nor any other foreign substance was used. A large shipment of Black Horse gait has arrived to this market. C. & B. essences are much dearer, the price having advanced at Home 1/ per doz. The market is flooded with currants of inferior quality. Several parcels fron* the South have been sold by auction, realising low prices, glemes meet with less demand, the Mlldura lexias steadily taking the place of the other fruit. Buyers i&ovf a disposition to hold off new currants for the present, pending greater settlement in the market of Reduction. The "Produce Markets Review" states:—-"In this article also the balance of opinion inclines to a reduction of previous estimates, and many good authorities boldly state their opinion that the crop of Smyrna fruit will turn out to be nearer 25,000 tons than 35,000. The revised estimates are due to the extreme heat la!tely{ experienced, which is said to have had an important offect in hindering the development of the bunches." The season's pack of salmon in America will undoubtedly be a large one. The canneries all along the coast have be6n improved, and their capacity increased by a total of 500,000 to 700,000 cases. At the same time, the market is expected to rule firm, owing to the heavy demand last Season leaving no carry-over to be cleared.

The producing season being now over, it is thought that stronger prices will rule for turpentine for the remainder of the season. Supplies of resin are also reported ad being only moderate in America, and a strong market is expected for £ long period. All the principal manulacturers of . handles in the United States have combined, and the iieW coihpany is known as the Turner, Day and Woolworth Handle Company. Numerous changes have been made in the price lists for different descriptions, and the discounts have been materially reduced. The general advance is about 12J per cent. Another enormous "combine" is reported from America, copper being the line cornered. Shipments of Ceylon teas from Colombo to Australasian ports this season were 12,794,---522 lbs, against 9,588,584 lbs last year during' the same period. The increase is most marked, yet despite this Ceylon teas are very firm. A cable received from Kobe states the prospects of the new crop of rice are brighter. Fresh shipments of Mildura lexias came to hand this week. By the Sonoma further shipments of onions and dried fruits arrived, also Cocktail salmon. A further advance in dried apricots is reported. Kerosene remains firm at last quotations. The Alice has arrived at Wellington from New York, and should reach Auckland shortly with further shipments. Advices from the States are to the effect that "supplies of crude nil are not keeping up, and it is thought refined will soon be quoted at higher figures. The oil production of the world now amounts to afcout 138,000,000 barrels per year, or 378,000 barrels per day. Of this the .tlnited States produces about 60,000,00 a barrels yearly, worth something more than $60,000,000. Keferting to the high rates ruling for linseed oil, an English circular states: me cannot see the t justification for this change. Although it is true that Indian seed is still scarce, plenty ot material is coming into the country from Argentina and elsewhere. h fact, our total imports of linseed were 849,313qrs for the first six months of 1901, against 8.43,419qrs for the corresponding period of 1900. The quantity afloat for the United Kingdom is also greater by about 60,000 # than it was last year. On the Wher hand, the stocks of oil in many places are low, and this may, perhaps, encourage speculators to operate in forward deliveries."

A seasonable demand is reported .fof all kinds of liquors. The metal fflarttets show increased firmness, Whlg-to the labour troubles in the tfast«i States rendering supplies uncertain. • This has affected fencing : Wife; barb wire, galvanised iron, and to: plates. Cement is also firmer, "With a distinctly upward tendency. Sydney trade circulars state that the tiaecrtainty prevailing with regard to th* Federal tariff is causing great in business circles, and indignation is being aroused at the jwtottged delay. Ailthough nomin- % there has been eight months WWlfet Virtually so far little has **en done in the' direction of profoiiiig the true union of the States n^ the shape of inattgnrating iliterWfc.tariff. Meanwhile trade gener-

ally is restricted to actual requirements.

Timber mills are now very busy, there being au excellent demand both for export and also for local requirements, as building is fairly brisk in and around the city. The kauri gum market is reported as steady, and from the way supplies are falling off it would seem likely to remain so. On the Exchange business has been quiet throughout the week, .with few changes in values worthy of comment. Buyers of Auckland Gas, old issue, and Union Steam both advanced 2/6, but this did not lead to business. Mining shares had very little attention, and no doubt business will be unsettled Until the decision of the Arbitration Court in the mining dispute is made. Potatoes: The local market is fairly bare at present, and any parcels that come forward go into consumption. Prices show no alteration this week. A good demand is reported foliate Derwents. Maize: About 1000 sacks came up this week, good samples realising 2/4 for lines on the wharf. Concessions in price are made to clear soft lots. Oats are very firm in the South, but the local market has not advanced proportionately, oats being obtainable here at 2/8 c.i.f., which is still less than laid down cost at this week's quotation from the South. Oatmeal has, in consequence, again advanced dn-price. Onions: Heavy shipments were received by the mail steamer yesterday from San Francisco, 2500 cases being for this port. Lines were obtainable at £15 per ton on the wharf. Flour: Buying is at present of a hand-to-mouth description. Fowl wheat is still scarce. Bran and Sharps are unchanged in price, and meet with fair enquiry. Wheat: This market is still without life, and prices are reported as having a downward tendency. Butter and Eggs are unchanged in price this week. Although very large quantities of eggs have been sent in still the low price has greatly increased the consumption.