COMMERCIAL.

Auckland Star, Volume XXXIX, Issue 68, 19 March 1908, Page 6

COMMERCIAL.

~ . . . "Auckland Star" Office, r " ' ' ■' Thnraday.-afaTcb' 19, isos. The amount of business which has come to band during the past week has kept the distributing houses trasily engaged, and although there is room for improvement in the state of trade generally, it is felt that ■when the present period of depression which several of the Dominion's industries are passing through has ended, a satisfactory revival ■will result, and business generally resume its normal / aspect. The prospect of the immediate future shows promise of increased activity, and there seems to be no reason to doubt that the coming months will bring in increasing business. The retail soft goods booses are kept busy with the autumn sales,' and are doing a brisk trade, while'the various factories are working full time to cope with the orders coming in. The wharves are bare of many large cargo steamers at present, the Rakaia being the only oversea arrival discharging. The Surrey is due at any moment from West of England ports. Sydney cargo and transhipments came down by the Manuka, and the Mokoia from Scmth left for that port on Monday evening. The Yedrto arrived from San Francisco, and the EnnerdaJe is at present discharging cargo from the same port. Expected arrivals shortly due include the Star of England, and Star of Japan. Sago and Tapioca.—Although prices were easier at the beginning of the week, they have now recovered, but no firm basis has yet been arrived at Sultanas.—The shortage in Hildnra fruit has caused buyers to concentrate their attention on the Mediterranean csxwj, and the forward market may be regarded ps firm. Salmon.—The American market is >cry firm, and the prospects are tb/.t this year's output will fall below the quantity, in view of which prices ar& not likely to show signs of weakening. Canned Fruits.—The increased duty on the American article whicrl will come into 1 orce next month is likely ' to make the line practically unsaleable in fhis market unless there is a substantial reduction in the buying price. Buyers are burning their attention to the Australian fruit, which is growing in favour with consumers. Prices are going to be higher this: year, and it is likely that an advance on present.quotations will soon take place. Sardines. —The difficulties experienced by the packing-houses >.n securing fish has been responsible for short supplies at the producing centres. The local demand continues good for aX brands, and as stocks are depleted higher -prices must be expected. Canary Seed has eased a couple of points with a quiet donand. Figs.—The f.upply- of glove boxes is diminishing, , while the bulk fruit is selling .well.

Castor Oil,'is advised as having fallen in price.

Codfish.—The-demand continues good, and stocks are movtmg off freely. Fungus.—The «lry weather has no doubt been largely responsible for toe present falling off in supplies, which continue" to come forward very slowly. Dates.—The sv.pply is hardly sufficient to meet the steady inquiry for bulk and carton fruit, and arriving shipments will be welcome to rep} enish stocks. Pineapples arre in short ' supply, with prices inclined,' to move upwards. Arrowroot.—-Tie market is steady, and although these is talk of hir-her figures shortly being realised, we think present Rites are lifcely to continue. Pie Fruits.—There is a moderate demand for this line, and all fruit except apples seem to be disposed of. Fungus.—The dry weather has no doubt been largely responsible for the present falling oft in supplies, which continue to come forward very slowly.

.iloney is reported rather tight at the present t juncture, which .is partly duer.to Hunk balancing at the end of this month. J hen the kauri gmn.and the flax" trade is very ipiiet at the present time, added to which farmers' spending power has been reduced as the result of losses occasioned by the drought, but as against these facts it mnst be remembered that the farmer s liave had a good run of success for some years, and therefore it is hardly likely that one dry season can cripple them seriously. As for the gum. and flax, the recovery of both those markets depends upon the state of affairs in America. As far as the progress of Auckiland is concerned, there is too much loan money to be expended within the next decade for there to be any serions set back. The drainage scheme, "with all its ramifications in the various boroughs, will probably mean the expenditure o* close on a million before it is done with. Then another million is to be expended upon harbour worts, and tenders are already called for the Town Hall, which, before it is completed, will probably cost £80,000, so that it is quite. evident that there will be plenty of work in the future an Aucklaad. Then, too, the fact must not: be overlooked, that in" the North are-thou-sands of acres of Native land at present lying idle, which,- under the Act passed last Session, should be opened for settlement. .In Hokianga county alone are some 200,000 acres of Native land. Surveyors are at present engaged cutting up one block of 20,000 acre 3in the vicinity of Kohnkohu. •In the Bay of Islands are other blocks of Native land, -which will in due course be brought into use, and all this must affect the future progress of Auckland. . " . ■ : ' "

j The kanri gum market is still very stag- . Bant as far as actual business is concerned. ; although there has been a little more lnI quiry this week at low rates. The supplies , eontmue very short, the quantity sent in c tor the two and a half months of the pre- • cent year showing a considerable falling f off. The Question that has -to be , con:;,sidered by brokers is whether the actual ,',-digging of gum has ceased owing to the low f* -prices obtainable, or is it still going on, }?"lrat the gum is being held either by the F-vjconntry storekeeper or the diggers, or by f£t)oth? It most not be forgotten that this ',-israraner has been a phenomenal one for Jt swamps, and it is fair to assume if that dose diggers who- could • afford,. have continued working, and will have t-Vgnm. stored awaiting the tnrn.of the tide ,ifQn the market. There is also the-other con\f "iingency, viz., that as there was a good ■Svdemand for workers In the country this ,>summer, a number of the men may have- left

I -the fieWs and earned a living elsewhere. JfJt&leairwtofle, all that is wanted to-ascertain FTTT<*h gum there really Is in the ?-ieountry ready for the market, is a sudden I ledvance in prices. Tha timber trade- is reported as still brisk i -although orders are not in hand, for so far ! ahead as was the case some time ago. The . -trouble millers have to face at present is to teep np a supply of large logs to enable ithe 3it'.-hes required far the English market

r ta be supplied. TJiere is still a fair demand lor timber for local building purposes, and sls,o for the Island trade. A large number jof logs got away from the boom which Jjroke at Mangonni, but fortunately the

■ TTind was on the shore, so there was less trouble in picking them np again. In other ;-parts of the country large numbers ol logs vwere brought down to the booms

During the past week business has been «rniet on the Exchange, but latterly there has been more disposition to do transfer scares, although in most mining stocks this has been the outcome of concessions made by holders in order to effect sales. Talisman Consolidated shares have eased a little in price, latest sales being, at 52/, bnt Crowns are still wanted at 7/. Waihi shares have steadily advanced, having sold up to -s£9 »/6 yesterday afternoon. OldHauraki shares had steady buyers at 2/, with occasional sales at 2/1 and. 2/2; and Walhi ■Extendeds, after selling as low as 3/6, firmed up to 3/S. Most other mining stocks were a little easier in price. More business iias been done in "investment stocks this | Tweek. Auckland Gas firmed, being sold up to 2S&A A transaction took place in Kimu .{Timber shares at 23/9; and contributing Kanri reached 10A again, at which price further lines could have been placed. A sale also was made of L.-08. Timber at •*ri/G; wliile for Northern Steam paid-up issue, 17/ was paid, and more were wanted st that figure. Wilson's Cement, ordinary •shares, continue very firm, and changed hands at 44/3. With the possibility of a million being spent on harbour improvements during the nest 12 years, a good deal of which will go in ferro -concrete, all cement shares should remain firm. '

Potatoes. —Arrivals from Tasmania on ffllomJiiv totalled 2000 sacks, which came to a bore" market, and were readily absorbed at about £S 10/ to £9 per ton. Arrivals from the South were light this week, and local supplies have also fallen off considerably of late. The market at present is exceedingly bare, but arrivals by the Waitare to-day will replenish stocks. The quality of Tasmanian potatoes this season is first class, although it is yet very early, and certain allowance ias to be made for the condition of potatoes right off the fork. The Southern potatoes are also good this year, bat the price is just about the cost of Tasmanian importations. Unfortunately the Tasmanian yield is reported to be a very li"ht one this season; therefore, it is expected that much higher prides will rule later on. therefore forward buying is being done, which are expected to turn out more profitably than last year's purchases for future delivery. Tie Wanaka will-not arHtc until thia day weefc, and- potatoes di

toe —■-. - •—: ~.-.- . . -f that* boat are offered at slightly lower qiJotations. ■• - • ', >. ■-.- . /

Maize.—Arrivals of maize continue lkht, and in consequence, prices.are likely ti remain at the present high figures. / • Onions.—Local supplies, havefall/n off, ■and this' market Is now' dependent upon Southern onions. The quality of these is very, good, and the price remains firm at from 7/6 to 8/ per cwt ■Milling AVheat—The position of this market shows little alteration/ prices being sail well maintained. There are practically no offerings at present, as the bulk of the wheat- is .now in store, and holders seem content to wait for higher prices than those offered-at present. A Ifcw fanners are still threshing and they liejp to feed the market Wtan and sharps are meeting with fair demand at late rate*. Fowl Wheat—rhe demand for fowl wheat continues good, owing partly to maize remaining at srtch a high figure. Very little second quality wheat is being offered this, season, tbe bulk of that sold as fowl wheat being equal to milling wheat in some seasons. The quotation at present is o/% ex store, and 5/ ex wharf. Oats.—Threshing is proceeding in Southland, from whence the principal supply of oats is drawn, and so far the result has exceeded expectations, the yield being much heavier than was' anticipated. Threshing Is not yei general, and any oats offering are rcKdily taken up. At the same time it is P/.-etty certain that with no outlet for the .Surplus to be exported to, prices will ease somewhat, but present quotations are likely to be maintained for three months at least Lines to arrire by the Wanaka next week are offered at 2/10, and the present quotation is 2/11 ex store. *

Chaff.— v r ery heavy business has been done in Southern chaff this week, as local offerings have been very light, as farmers' ideas here are at present much above market values. The barque Jessie Craig, from Lyttelton, has large shipments of Canterbury chaff, which is being offered at £6 to £0 7/6 per ton ex ship's side, sacks in. The Canterbury chaff is reported to be better than the locally grown, Leing heavier in scraiu, and free from ail dust. Any local chaff coming forward commands £5 to £5 5/ per ton ex rail, sacks In.

Grass Seeds.—The heavy demand for grass seeds and shortage of various lines has caused prices in several instances to advance considerably, consequently a new price list appears in the weekly markets. The demand has been phenomenal this season, due no doubt to the anxiety of farmers to sow areas through which the fires passed, in addition to the felled bush, which was so successfully bnrned, owing to the unusually dry season. It is still only about the middle of the season, and yet already stocks have been almost completely depleted, and there has been a general replenishing of ail lines at very greatly increased cost to the seed merchant. Supplies of cocksfoot seed are undoubtedly short, and it is calculated that already over some 10,000 sacks have been dealt with on the Auckland market alone, and before the season is over this quantity promises to be greatly exceeded. The Akaroa crop is reported to be a light one, and, as no stock of old seed was carried forward, it is certaiu that before the end of the season there will be practically a famine in cocksfoot seed. The price has now advanced from 14/6 per bushel to 17/6, and even at that figure merchants could not to-day buy. and they are simply selling stock purchased at lower prices a short time since. Latest quotations from Canterbury for dressed IClb seed is 10* d per lb, which represents 17/G per bushel f.o.b. Lyttelton. Farmers will thus see that prices are not being in any way forced up by local merchants on account of the heavy demand dne to the unfortunate "circumstances in which sellers find themselves placed this season. The high prices are the natural outcome of a general shortage of supplies, which gives merchants great difficulty in meeting the" existing strong demand. Clovers also show an advance of from Id to 2d per lb, and many of the finer grasses have also risen in price, - such, as poa . pratensis, meadow foxtail, and fescues. The Government have taken up ttie matter of supplying grass seed to farmers who have been turned out, and already a number of orders bay* been placed with the seed merchants in Auckland for prompt delivery to cases where inquiries have shown genuine need. Other applications are being inquired into, and wilt in due course receive attention.

Butter, and Eggs. —Quotations for butter and eggs show no alteration this week. ATJCKI/AND HAKKETS. Farm and Dairy Produce.—Butter, factory, 1/3 per lb, farmers' separator or dairy butter, 10d per lb; fresh eggs, 1/3 per dozen wholesale; cheese, farmers', from 5d to &.a per lb, factory, GJd to 7d; bacon, sides, SJd, rolls 9Jd, hams 9Jd, Grain. — Oats, B grade, 2/11, ex store; Southern milling wheat, 4/9, f.0.b., sacks extra; fowl wheat, 5/2, ex store (sacks in); maize 4/7, for wholesale lines on the wharf. . ■• •* Potatoes.—Best potatoes, £10 10/ per ton. Flour.—£l2 10/ per ton (less discount); ivheatmeal, £12 10/ per ton (less discount); sharps, £7 10/ per ton; bran, £6 2/6, -wholesale; oatmeal, £15 5/ per ton for 25's. 1 Chaff.—Local, £5 to £5 5/ per ton, ex rail,; Southern, £0 to £6 7/6 per ton. Ouions. — Local, 7/6, 8/ per cwt. Grass and Clover Seeds.—The following are the quotations at present for grass and i clover seeds:—Cowgrass (Colonial 1/2 per l lb, cowgrass (imported) 1/1, red clover (Colonial) 1/2, red clover (imported) 1/1, white clover IQSd, alsyke 1/1, trefoil 6d. trefolium incaxnaium 7d, rib grass 41d, lotus comiculatns 2/, lotus major 2/6, lucerne (Hunter Hiver) 1/, sainfoin . 1/, kidney vetch 1/6, sheep's parsley 1/3, yarrow 6/; mustard (agricultural) 7d, rape (Essex broadleaf) sd, Timothy 7d, ratstail 1/8, crested dogstail 1/10, poa pratensis 1/3, poa nemoralis 2/6, poa trivialis 1/8, poa aquatica 2/6, meadow foxtail 2/3, fescue (meadow) 1/1, fescue (tall) Sd, fescue (Chewing's) 10d, fescue (hard) 9d, fescue (sheep's) 9d, fescue (red) lad, fescue (fine leaved) 1/6, sweet vernal 4/, avena fiavescens 4/, florin 1/2, red top (imported) lid, brown top 1/10, paspalum dilitatum 1/3, turnips (yellow and white flesh) 1/, turnips (yellow tankard) 1/3. •Ryegrass, Poverty Bay (old pasture), 9/3; ryegrass (Hawke's Bay), 9/3; ryegrass, finest Canterbury, extra machine-dressed, heavy, C/; ryegrass, finest imported. 6/; ryegrass, superior Canterbury, 5/9; ryegrass, Italian recleaned, 6/; ryegrass, Italian farmers' machine-dressed, 5/; cocksfoot, extra machined, 17/6, cocksfoot, rough dressed, 16/; prairie grass, 8/ per bushel.

Coal and Firewood Markets.—Newcastle coal, at yard, 27/ per ton, delivered 32/; Westport, 30/; Taupid, best household, ton 29/, discount 1/ for cash; half tons 15/, disconnt 6d; quarter tons 7/9, discount 3d; delivered, 12 sacks to the too —tons, 28/, for cash; picked Bteam, 12 sacks to the ton— tons 2G/, discount. 1/ for cash; half tons 13/8, discount 6d for cash; quarter tons 7/3, discount 3d for cash. Firewood: tJocut, at wharf, 7/ to 9/ per ton; delivered, 12/ uncut, cut 13/ to 16/.

Building Materials.—Bricks, 55/ per 1000; pressed bricks, 90/ per 1000; 2-inch fire bricks, £8 per 1000; 3-inch ditto, £9 per 1000. KAMO STOCK SALE., Messrs. F. and W. Wakelin report that at their monthly sale held at Kamo on the 4th inst. a good yarding of stock came forward, especially beef, there being 80 head yarded, and all sold at about 22/S per 1001b cows and eteers alike. Good . young springing cows, close to profit, sold better than for some time past. Most of the store stock entered for tnis sale were withheld on account of the very dry weather prevailing. Those offered were dnll of sale. At Manngakaramea monthly sale over the advertised number of stock came forward, and although a good many cattle changed hands prices were low. ' • - HIDES, SKINS, ETC. G. W. BINN-EY AND SONS' REPORT. On Wednesday we offered and cleared large catalogues of bides, skins, tallow, etc. Hfcles..— Market continues very firm. Ox, extra stout, GJd to TJd; stout, 6d to 6Jd; medium, 5 3-Sd to 53d; light, 4Jd to s}d; cows, best lines, 4*d to 4Jd; good, 4Jd to 4 3-Sd; stags, 2d to 2Jd: calfskins, 3£d to 4d per lb. Scored " and "damaged hides difficult to place, and realising very low prices.

Sheepskins.—Pelts and lambskins, best, 1/6 to 1/n; others, 1/ to 1/4; damaged and weevily, 5d to 9d each.

Tallow. —Best mixed, to 2G/: good, 24/ to 25/3; medium, 22/ to 23/6; inferior, 18/ to 21/ per cwt. Rough fat, ljd per lb. Cow taiJs, 1/S per dozen. Bones, £4 15/ per ton.