COMMERCIAL.

Auckland Star, Volume XXXIII, Issue 204, 28 August 1902, Page 2

COMMERCIAL.

Auckland Star Office

I Thursday, August 28. The temporary slackness in trade mentioned last week has passed, and business has resumed its usual ateady course. Bys the Mararoa transhipments of Japan rice and preserved ginger, ex Airlie, came to hand. With regard to rice, news received this week states the market continues to advance, weather for planting out crops is favourable and supply of water ample, but adverse weather conditions might still affect the market, and another sharp rise might follow. The fire on board the TJ.S.S. Aparima is likely to cause a considerable scarcity in sago and tapioca, as large shipments for Auckland were on board. There has been considerable business done in anticipation of the expected scarcity. Great difficulty has been experienced in getting factory butter, some portion of the week it has been quite unprocurable. Dairy cheese has also been keenly inquired for, but is not obtainable. Local onions are now too unreliable to Btock, and the American onions are selling in consequence. Sultanas of good quality are extremely scarce, though there is plenty of low grade fruit in the market. Stock of prunes is exhausted, but the new fruit -will be in shortly. The Bedhill arrived Irom- New York via Australia on Tuesday. The Wakanui, from London, has just arrived, and brings a large cargo of general lines, including National candles. Considerable shipments of fungus have gone forward lately, and more w*uld have been shipped, but the Union Company's Waikare was a full.ship, owing to *he exceptional circumstances which at present prevail in Australia. Salmon and tinned fish generally is in better demand. Half pound tins of salmon are short, but new season's fish should soon arrive. Kerosene has now advanced slightly, as ft is all in store, the Beira having finished discharging. The next arrival will be the Titania steamer, due about the 7th September. The barque Star of the East is also about due with a cargo. A shipment of one gallon cans is on the Titania. None of this size has been procurable for months past. The new season for Indian teas has been very satisfactory, although the fire on the Aparima will make the deliveries "here much later than they ought to have Tieen, as that vessei has on board 8000 cases tea and rice, which should have been the earliest to arrive, but is now under water. This will, of course, necessarily interfere ■with the early delivery of the Indian teas, a fact which is all the more to be regretted, as all the indications this season were for excellent values. The immediate effect of the damage to the Aparima's cargo will be to harden prices here. It is expected that this season Indian teas will be of unusual quality, "when once the later supplies come in. India is reported likely to produce a larger quantity of tea this season than it has for some years. The exports of tea from Ceylon are a little larger than they ■were at a similar date, last year's amounting to about 12J million pounds per month. A very noticeable feature with respect to Ceylon teas is the greatly increased Quajitit^Viow taken for Itussia, being over 2i'million pounds more this year than last. The Ceylon teas sent to America also show an increase of U million pounds, and even China is increasing its imports of teas from Ceylon, thus showing how completely the trade has been revolutionised. The prospects of the markets in Ceylon are reported to be very good, rains having given an early start, and the present indications are for a range of very good qualities throughout the season. The very low prices that have prevailed for some Ceylon teas during the past season are likely to be interfered with in the future by. the increased requirements of the Russian trade already referred to, as the Farmings and dusts which have helped to pull down prices of all Ceylon teas are now largely exported to Russia for making "brick" teas. The general character of this season's Imports from Ceylon is therefore likely to be of good quality throughout. Shipments of stock continue to Sydney. The Waikare this week took 500 sheep, 31 bullocks;-the Talune is to take'another 1300 sheep and 100 head of cattle to-mor-row, and the Blingam-ite is engaged to convey over 400 sheep.and 20 head of cattle next Monday. Of course this naturally means depleting the local market, and while the export to Australia continues there is no hope of the retail price of beef and mutton being reduced locally. An important feature that cannot be overlooked at the present juncture is the fact that owing to the development of the creamery business, for some time past farmers have not reared so many calves as they did formerly, for it paid better to sell the milk. The result Is that there is not so many young stock coming forward as there used_ to be. The heavy export of lambs to tondon has also had a similar result with regard to sheep, so that even when the Sydney demand is over, it will take sometime for the local market to regulate itself. Coromandel Is having a small boom all on its own account just now. Since last report the tributers in the Bunker's Hill mine have been securing regular hauls of picked stone daily, with the result that shares which a fortnight ago were unr saleable have this week changed hands up to 5/2. As usual in such cases, adjoining mines have received, attention, and shares in the Haurakl Freehold, and Hauraki No. 2, which were not quoted for months past, suddenly became popular. Another result has been that the peggerout of new claims has already got to •work, and if the run of gold in the Bunker's Hill continues, there will soon be plenty of new scrip on the market So far the tributers have done well, and latest reports state the reef to be five feet in width, which is somewhat unusual for Coromandel specimen lodes. In Thames stocks, inquiries have been made for Kuranui, May Queen and May Queen Extended shares at slightly better rates. Waihl stocks have had better demand during the last week, due no doubt to the improved prospects of the parent mine, in the shape of a new reef to the north of the Martha Hill. The return from the Waihi • Company also showed considerable improvement this month. Tairua Broken Hill shares improved in value this week, sales being made as high as 10/. Woodstocks also firmed owing to crushing operations having been resumed. Standard stocks maintained their value, but fewer sales were reported this week. The market for flax has an upward tendency again, owing to a sharp advance in the price of Manilla hemp in London. Locally an advance of 20/ per ton took place yesterday. Fair quantities of flax are being sent in for the season of the year. . The kauri gum market shows little alteration, high prices being maintained, u< supplies are still on the light side. Timber mills are still busy, there being a good' local demand. Maize: About 2700 sacks of maize came to hand during the week, of which about 13C0 sacks were exported to Sydney. On Monday the market opened at 4/2, with '■ strong buyers for Sydney; but by midday the inquiry suddenly ceased, and subsequently orders not flllea were withdrawn and the market rate at present is nominally 4/. The fact that some 20,000 sacks of maize are on the way to Australia from the Argentine may have had something to do with the falling off on the part of Sydney buyers. Under the circumstances it is unfortunate that more space was not available for shipping maize on Monday, as. had there been no doubt another 1000 sacks would have been shipped before the buying for Sydney stopped. Potatoes: Arrivals have been increasing lately, and the local demand continues very good. The Southern market still keeps firm owing to the shipments to Sydney, and also inquiries for South Africa. The price now asked in the South is about equal to £5 per ton landed here, out the present quotation In Auckland is £j per ton ex store. Good local Derwents are worth £4 to £4 10/, and white varieties £3 10/. Oats: This market shows no change tinue fir weeh:' B P°sitio^ and prices conftSiv 1 at contln«eß Mbe offered tie? V» k i re P°«l ted that large quantlAu ß tr»L bei ng P urc*>aßed for shipment to iMiiif a f,? r feeains stock, la verl nfl^ at: TJif market ln the South thit » «M lß bU)? ng Iwsrely-an evidence

the yield being estimated at 66,000,000 bushels. What this means may be gathered from the fact that no less than.25,000 harvesters have gone to Manitoba. Wfth such an immense crop it is just possible Manitoba may seek fresh markets for her surplus wheat and flour.

Chaff is very scarce at present. Bran and sharps continue scarce, and the high prices are well maintained. Onions: 'Frisco onions are beginning to move off now that local ones are about done., Only a few local grown brown Spanish are left on the market. Cheese is very scarce both here and in the South, and as stocks all round are reported light, prices are likely to advance still further. Butter continues extremely scarce, ana factory has been almost unprocurable this week, consequently the lugh price ruling for the latter article has been maintained. Apparently there is prospect of a good season also in London, as Messrs Weddel and Co. report under date of July 18th:—"Hot and dry genuine summer weather has prevailed during the past week, and on specially dry soils there are signs of the commencement of pastures burning up under the torrid sun. There is a better tone in the market for Canadian butter, and prices will probably advance 1/ to 2/ per cwt. It Is very difficult just now to understand the present position of the market. Last year at this time there was a very great shortage of home-made butfer, owing to the severe drought which prevailed, yet prices were If anything, belov the present figures. Xow the pastures are excellent, and the import of butter is much greater than last year. In a word, we have larger home supplies and larger imports along with higher prices and a firm market. Russian arrivals for the last four weeks were only 55,373cwts against 62,010cwts tor the same weeks in 1901. There does not now seem much probability of a return to lower prices before next summer, as in August values generally advance. Eggs: Supplies are still heavy, and the price remains at 8d per dozen wholesale. Even in Wellington the quotation this week was 9d as against 1/2 the week previous. No dwbt the high prices ruling toTmeat will result in a greatly.increased consumption of eggs,, which should guarantee prices not going any lower. thP nast two years is having a good ciSSt Cn The "market value foi-this important resultant product. Better sysSIPS the period under review.