COMMERCIAL.

Auckland Star, Volume XXXIII, Issue 84, 10 April 1902, Page 3

COMMERCIAL.

j , : ; Auckland Star Office, / ' Thursday, April 9. The week has been phenomenal in the almost unusual rise in produce. Flour has advanced 5/, and a further 10/ per ton, and now stands at £10 per ton, sacks. Sharps, 10/ per ton, at which figure they are difficult to obtain. Bran, 6/ per ton, and factory butter another Id per lb. Potatoes for some part of the week have

been almost unprocurable, and sold up

to £5 per ton, in small lots. Maize has had an unprecedented advance of 9d to 1/ per bushel during the week, the cause of which is commented on elsewhere. Al- ■ together, despite the bad weather, it has been a busy week. Cable advices from Hong Kong quote rice a shade lower, and advise the shipment of 1500 tons per Taiyuan. sailing 15th inst. From the same place the fungus market is advised as very depressed. One feature which affects the returns in 'this article is the considerable drop which has taken place in exchange. From Sydney comes the news of a new tobacco combine, to be called '"The States Tobacco Co. Proprietary. Ltd.," which has taken over the old established business of Sutton and Co.. Sydney, Jacobs, Hart and Co., Melbourne, and other firms. The new company will control T. C. Williams' tobacco and Diadem) and Dunlop's Derby tobacco, Hansa cigars and other tobacconist's lines. The company has been formed to meet the altered conditions arising from inter-State free trade. Lahey's arrowroot is now off this market. Stocks of Champion vinegar are once more exhausted. Ie is strange how frequently this has occurred of iate. A leading British oil company, writing on the position of the London market for linseed oil a month ago, states that there seems to be a steadily advancing tendency, with every prospect of higher rates ruling during the summer months. Linseed stocks are reported low, and the official reports of the Calcutta and Argentine crops, the figures of which we published a few days ago, have had a very strengthening effect on the London market, where the scarcity has been undoubtedly felt. The general feeling of the British trade appears to be that linseed oil from May to August is likely to be nearer £35 than £30 per ton. \s a general rule British oil manufacturers are asking the same price for forward oil as for prompt delivery. 'Frisco advices P« Ventura state that the market for dried and tinned fruits has again advanced with a prospect of further rise in values, especially i n peaches, apricots and apples. Advice by mail from London states that although a general advance in values of currants has appeared imminent during the past month the market shows no change of importance, As extensive consignments have recently been made to America and the Continent, and the supply in Greece is small a steady increase in prices may be expected. The tin plate market is very active in Great Britain. One circular srates: "The tin plate, has rarely been in a more stable condition than is the case at present. Orders for all sorts, sizes, and qualities are on hand, and the aggregate output of the mills is very high. Shipments for the week amounted to 74.240 boxes, the largest consignment being to Batoum and Odessa, which took between them 2900 tons. The receipts from works were over GO,BOO boxes, and stocks have been reduced to 137,350 boxes."

The financial market in London appears to be in a healthy condition. Jlessrs De Lissa and Co. report, under date of February lSjth: "We have every reason to believe that year is going to be a fairly good on«, as trade is active in all directions, and should we have peace we shall have a remarkably busy time. In finance there is a much stronger feeling all round, and securities of all descriptions have advanced considerably during the month. Bank rate has been lowered to 3 per cent., and with the vast influx of visitors we are bound to see this year at the Coronation, everything ought to be booming."

Timber mills have been fairly busy during the. past week, as there is a good local demand, together with inquiry for shipment to London. There is some talk of an English company starting cutting for export to London on its own account. There is a feeling in the trade that the export duty may yet be put on kauri. The kauri gum market continues steady, and the demand for flax is well maintained.

A better feeling has existed on the Exchange during the -week. The "Waihi Company had another record return, and shares changed hands at £5 17/ and £5 IS/. Waihi Extendeds firmed slightly in consequence of the shaft now being down to the. required depth of 500 ft, so that in about a fortnight crosscutting for the reef ought to be commenced. Shares sold at 2/ and 2/1. The Tairua Broken Hill Company paid a dividend of 3d per share. This stock continues to advance steadily in price, sales having been made over 5/. Reports from the mine are of a. satisfactory character. The Chelmsford Company is breaking out better ore, and the next crushing is expected to show improvement. The Talisman Consolidated Company's mill has been stopped, pending putting in compressed air apparatus to drive rock drills. At Thames a little interest has been excited by Barry's reef being met with in the Kurunui mine, and also on account of the newly discovered reef in the May Queen Extended mine having opened out well. Thousands of shares in this company were forfeited about a fortnight ago for a Id call, and this week the price advanced to 1/, when the bulk of the forfeitel chares were gladly taken up tiy shareholders at 2d each. Standard stocks generally have been in good demand, but values have not shown much alteration. Auckland Gas shares changed hands yesterday at £14.

Potatoes: During the week the market has been remarkably bare of potatoes,, supplies being- practically unprocurable, the heavy rains having stopped digging As soon as the weather takes up again the market will be well supplied, as there are plenty to come forward, though unfortunately there is a good deal of disease amongst the potatoes this season. -At present potatoes are worth £4 10/ per ton, though as high as £5 has been paid to secure supplies.

Maize: A smart advance took place in the price of maize since last report, sales being made at fully 9d per bushel increase. Present quotation is 3/4, but whether this is maintained depends upon the inquiry far the Sydney market, as it was due to demand for shipment that the recent advance took place. There seems reason to believe that New South Wales has little maise to come forward, as inquiries are already being- made for quotations for the new crop here for forward shipment. The prospects of the new crop are reported as really firstclass this season.

Oats: A little reaction on the downward tendency of the oat market is reported, but though the market is firm there is no quotable change at present.

Flour has now advanced to £10 per ton wholesale, and wheatmeal has been raised to the same figure. Bran and sharps: There has been a great scarcity of sharps, and the price has been advanced 10/ per ton. Bran is ■meeting with good demand. Wheat: This market is somewhat excited, and the cause is not yet apparent, and this" has resulted in the advance in the price of flour. Chaff is still very scarce and worth •£4 10/ per ton delivered. As high as £» is stated to have been paid during the "Week.

Hay is in very short supply, owing to so much being held back for winter feed for dairy cows in creamery districts. Grass seed: Very good orders are still baing sent in, as farmers are anxious to sow now that the rains have set in. Butter and eggs are unchanged in price. Eggs are still meeting with excellent demand.