COMMERCIAL.

Auckland Star, Volume XXXIX, Issue 169, 16 July 1908, Page 7

COMMERCIAL.

• ' i Aac—land Star Office, l Thursday, July 16th, 1908. \ There has been no change of any im- c portance In general business, which may, J however, be considered satisfactory for this s time of the year. t The unfavourable weather has not pre- I vented purchasers attending the retail soft c goods houses, which ere busily engaged in *• clearance sales, and report good business, t The money market continues restricted, and c extra caution is still necessary in the "mat- t ter of credit, but no doubt au Improvement will be noticeable coincident with the t recovery In the general markets for pro-1 t duce. which is. however, somewhat longer in I coming than was anticipated. Advices from t Home and the States would go to Indicate s that the close of the present year will see c trade back to its normal condition. ( In consequence of so few oversea vessels c having put in an appearance, work on the 1 wharves has been quiet. The Fifesliire has i arrived from London, and is continuing her t discharge. £ The Nerehana has arrived from London, f and the Den of Ruthven may be expected *, to arrive at any moment from Vancouver. _ Corn good demaud is leported for corn flour, with no change lv quotations i for best brands. " Dried Fruits.—A cable received this week \ from Frisco notifies an advance of * per cent in the price of dried apricots, with every indication that prices for both prunes and apricots will show a fnrther advance. , The shipments of dried apples per Yeddo ". arrived in good condition, and show satisfactory quality. Supplies of prunes this ] season are likely to be very limited, and there is no doubt a shortage will be iv I evidence. ' Evaporated Peaches.—A full crop Is expected in this line, and consequently lower j rates are probable. " Seeded raisins do not seem to have reach- ', ed their lowest point, and In view of reported good crops, easier prices may be expectea to rate. " s Salmon.—Higher prices are expected to * be quoted for the British Columbia pack, r and the demand at the other side for the ' Red Alaska fish is likely to cause prices ' to move upwards. I Dates.—The keen demand er.at*nue->. nud * finds stocks in short compass, with bulk ' fruit practically unprocurable. ' Figs.—Prices are holding up. with a con- • tinned good demand. Holdings are being c thinned out. 1 Currants.—Tbe forward n.arket is re- < ported as firm, and orders hare been placed < on the basis of opening quotaUons. i Resin is showing a stronger feeling, and ' an advance has already taken place. 1 Asparagus.—Stocks are in short compass, I and hi.ber prices are being asked for 1 holdings. " j Sardines.—Ample supplies are held to ) meet the moderate demand. i Mutton Birds.—Fresh shipments have 1 come to hand, aud are meeting with ready j Tartaric Acid.—The market Is reported : stead*,, with prices holding Inn. i Citric Acid is rather firmer iv values, with • au upward tendency. . Arrowroot. — A moderate demand exists, will, unchanged prices. j Fungus.—Supplies continue slow In com-1 i in,; forward. Prices remain .vtrboiit change I , Antimony.—Messrs Willis. Sindall and ' • Co.. London, report: The market for inti-1 , mony continues firm, and *.p to —17 has l*eeti , paid, hut most works quote from £34 to £ZT,. For crude Juno arrival tIT. 10/ was paid i few days ago. with forward shipment at £15 and spot at £15 15/. Ore for near ar- ' rival has heen done at equal to £10. "While tnere is a decidedly bettor feeling In business circles througho.it tbe country (states a New York Arm's circular*,, at the same time it Is far from being satisfactory, and tbo opportunities of dolor; business before 'the fall" seem tn be "_l*e limited." A good deal of building is still going on I in the City and suburbs, and this means that timber mills are still kept busy. Oregon pine Is being placed on the New Zealand market In large quantities, and is being pushed by agents, as It can be sold cheaper than first-class kauri, being about the price of medium. A million feet were placed at Napier, as supplies of kauri were so hard to obtain that 25.000 feet of Australian : hardwood were purchased to carry on with. I Totara and rimu timber are now coming steadily Into use. Tbe condition of the grain business is by j no means satisfactory at the present time. Baying is practically, of a band to month description, and in several Hues sales are being made at a loss owing to prices having dropped in tbe South since contracts for I future delivery were made. Concerning the London wool market a report to hand, dated June sth, states:—! "The result of the recent sales must be consldered satisfactory, inasmuch as the down- i ward course of the market has at last been checked. Stocks in manufacturers' hands are unusually light, so that should we experience some Improvement In trade, which seems quite possible after the months of depression, prices should again reach a nominal level; tbe fact must not. however, be overlooked that a very considerable quantity of wool has still to be dealt with this season. The next sales will commence on the 14th July, with a limit I of 150,000 bales of net fresh arrivals, and should this figure be reached then with the wool now being held, the total available quantity for the series will be about 210,000 bales." Another circular referring to the prospects of the wool market states:—"lt i only needs a little Inquiry to restore confidence, which has been badly shaken since the beginning of the year, and such being the case, there Is no apparent reason why a steady and gradually improving market should not take the place of the unsettled order of things which we have lately been experiencing." A little inquiry for flax is reported from London, but prices are still very low, £22 ! being the quotations for g.f.a., £21 for fair, and £19 for common. The state of the London market may be gathered from the fact that on June sth. Manila was reported weak; fair current about £2 per ton lower than good fair. New Zealand. May-July and up to December shipments of New Zealand hemp are quoted as follow: Good fair. . £26 5/ to £_S 10/; fair. £24 10/. Tow, £9! to £10 per ton. Manila, fair current. £24 i 15/ per ton, c.Lf.; and sisal, £23 10/ per ton c.Lf. The bulk of the business during the last day or two on the Exchange has been the outcome of concessions made by holders of mining shares. In order to clear lines. Transactions took place in New Zealand Insurance shares at 76/, Kauri Timber (couL' at 12/6, aud Devonport Steam at 32/; but generally speaking little was done with Investment stocks, although prices were well maintained. Southern mining shares, such as Blackwaters. Consolidated Goldfields, and Progress Mines all sold at slightly better rates. Waihi shares eased down to IS6/. and for Grand Junctions slightly lower prices were accepted. The Waiotahi Company paid a dividend of 3d per share this week, which means the distribution of £3000. Shares changed hands, ex div., at 2/6. Several sales were made of Talismans at 45/6 to 45/3, and Crowus were transferred at 6/ yesterday afternoon. A number of the lower priced mining shares changed hands at lower prices. Walhl Extendeds firmed up to 3/9, and Consolidateds were firm at late rates, another £100 havflig been paid by the option holders. May Queens, after reaching 2,4, dropped back to 2/2 yesterday afternoon, and Old Haurakls also sold at the latter figure. In view of the unsatisfactory position of the market for kauri gum at the present time, when steadily diminishing supplies do uot cause any improvement in prices, the following extract from a Hongkong paper Is of Interest:—"Buyers of Kauri gum, it Is reported from Brisbane, have recently been surprised to learn that Mr Chlng-Yet-chlng a Chinese of Shanghai, has acquired in the French island of New Caledonia the entire deposit of kauri gum which is the only one known to exist outside of New Zealand. For years it has been becoming scarce in the' latter country, and the demand being considerably greater than the supply, the market has risen with leaps and bounds until £400 a ton is the local price for the best quality. Kauri gum produces the finest varnish and lacquer that exists, and is also largely used as a substitute for amber The concession that Mr. Chlng Yet-ching and his associates have acquired gives them the exclrsive right to extract gum over an area of 34SS hectares, practically the entire kauri gum lands of New Caledonia. The Consul-General passed a special bill allowing them to extract and export at once, and the Governor signed the decree on April 14th. It is estimated that something like 43,000 tons of kauri gum is to be found at a distance of from six to twelve feet below the surface. Work, It Is stated, has already begun, and China should shortly be In a po3ltion to dispense with the substitutes for gum that she has been forced to use for her lacquers." The writer of that paragraph appears to have fallen into the error of thinking that New Caledonia and New Zealand gums are the same article. Here it Is well-known that such is not the case, as the New Caledonia gum has an acid in it which buyers In London and Amertca strongly object to. It is, however, reported that as a res_lt of continuous experiments by chemists, c method had been d__*o—ered of counteracting the add. It may also be

probable that the acid is not objected to for .. lacquer work. 1 Milling Wheat.—Although the -market for \ fowl wheat is easier, there has not been ; any noticeable change In milling wheat. Probably farmers recognise that there is not much likelihood of wheat ruling cheaper In the near future, more especially. In the face of an advance of 1/ to i/6 per quarter in i London yesterday. Under such circumstances, farmers are, no doubt, quite content to hold on till September-October, when past experience has proved that prices usually harden; in fact, they would "sooner win a mare than loose a saddle." Although the Canadian crop promises to be a heavy , one, this cannot affect prices for wheat In the months named. Maize. —Arrivals have been rather light this week, due, no doubt, to the fact that the bad weather Is affecting the roads and : preventing the maize from being sent down to the East Coast ports. The total arrivals since last report were 450 sacks, the bulk : of which came by the schooner Kereru from Gisborne. As this shipment came to an absolutely bare market, an advance upon late rates was paid for the maize, and the market closes at 4/9 for wholesale lines on the wuarf. At this figure maize is a dearer . feed than fowl wheat but poultrykeepers prefer maize in such cold weather, as it is the . warmer food. The quality of the maize 1 sent up this week was very satisfactory. Fowl Wheat. —The market for fowl wheat , is decidedly weaker than it was a fortnight , ago. The result of this state of affairs is , that business ex the Wanaka has been at considerable loss to Importers. To-day's , value Is 45/ ex wharf and 4/7 ex store. • Oats. —This market is also very weak at the present time, and business is being • forced by holders in the South. As .1 j matter of fact, it Is hard at the present time . to effect sales of oats in Auckland, as merchants here are now working off their con- , tracts of purchases made at higher rates. , Business for Australia is now purely nominal, and it Is not anticipated that there will be any renewed demand for New Zealand oats from the Commonwealth in the near future. Chaff.—This market has improved a little since last report, further Inquiry from Australia having tended to strengthen the de- < mands of holders lv the South, although at the moment there is no quotable change in prices. No local chaff is now coming to hand. Business In Southern is principally ex store. Actual arrivals since last report have been somewhat light. The quotation , at present Is £6 10/ ex store. Owing to • the bad state of the roads now in the country districts, it is practically impossible for the machines to get round, so that the oats must remain in the stack until later ' on. when the roads are dryer, and the chaff ; is not worth half so much on the market- ' This is where the farmer suffers through , the bad state of the roads, and thousands of pounds' worth of chaff have to be imported from the South, which could all be grown in the Auckland district. Bad roads also i mean less goods to feed the railways, so that the Government proposal to expend ■ larger sums on road-making is sound business policy for the country. Potatoes.—This week's arrival of potatoes from the South by the Wauaka and Wimmera were mostly sold for delivery from ship's side, and the market continues very strong at £6 10/. Seed Potatoes.—A better Inquiry exists for Up-to-D-ate and Northern Star seeds, although, naturally, planting has been delayed by the continuous showery weather. There is evidence, however, that as soon as the weather tabes up. potato-planting In this ', district will De more extensive than it was , last seasoL. j Seed Oats.—The only Inquiry is for Algerians, and re-cleaned samples of South African seed are worth 4/6 es store, while i Australian seed are quoted at 4/9, the latter being a little heavier. Onions.—Tbe market is rather bare of onions at the present time, and Auckland importers will shortly have to draw snp- | piles from Victoria, as Canterbury reports I stocks down there are about run out. A few local consignments came forward this week In good condition. The quotation Is 9/ per cwt. Butter and Eggs.—Supplies of eggs are now more plentiful, and the wholesale price has dropped to 1/3 per dozen. The butter market shows no change so far. The outlook In London is for better prices ruling , for butter. A trade circular dated June 1 oth states: "There is undoubtedly a genuine shortage of butter, for althongh the make I in Ireland and England has increased con- ! siderably, yet everything is being cleared up at once. Practically speaking, there is not n box of butter being stored, most of tho butters are going into cold storage as they come out of the steamer so as to prevent 1 any deterioration and consequent loss of j reputation to the various brands through j heat, but these butters are not stored for I any length of time. These latter remark? 1 ! apply qually to all classes of butter." It Is ! gratifying to note that New Zealand finest i*= qnoted at 108/ to 110/ in London, being next to Danish ar 110/ and 111/ per cwt while New South Wales is 102/. AUCKLAND MARKETS. Farm and Dairy Produce.—Butter, factory. 1/1J per lb. farmers' separator or dairy butter. 9d per lb; fresh eggs. 1/3 per ] dozen wholesale: cheese, fanners', from ou to 6_d per lb, factory. 6_d to 7d; bacou, sides SJd, rolls 9Jd; hams 9_d. Flour. — £12 (less discounts); wheatmeal. £12 (less disconnts); sharps, £7 , 10/ per ton: bran. £5 17/6; oatmeal, £14 ' 5/ per ton for 25"5. wholesale. Grain.—Oats, B grade. 2/11. ex store; Algerian seed oats. 4/6. ex store; Southern milling wheat. 4/6_. 4/T f.0.b., sacks extra: fowl wheat. 4/7. ex store (sacks In): *aew maize, 4/9, for wholesale lines on the wharf; white Tuscan seed wheat. 6/6. Potatoes. — £6 10/. ex store; seed potatoes. £6 10/ to £7 10/. 1 Chaff. — Southern, £6 10/ per ton. ! Ouions. —Southern. 9/ per cwt Timber.—Ordinary building timber, undressed, up to 24ft long. Sin to lin or more in thickness, and from 3ln to 12in wide, first-class 20/. medium 17/: secondclass, 12/ per 100 ft; undressed boards, up to 24ft long, not exceeding 121n wide and _in thick. 17/. 15/. 9/; rough heart palings. . sft x 6in x .in. 28/ per 100 palings; rough j heart palings. 6ft x 6in x _in. 31/ per 100 ! palings: rough lining boards, -9in x gin. ! S/6: wide boards, 6d per 100 ft superficial, extra for every inch in width over 12in and up to lSln: over lSln up to 24in, 9d; over 24in to 30in. 1/; 30in to 42in, 1/6: over 42in, by arrangement: rough heart 11/6 per 100 ft, superficial; super, planing. 1/ per 100 ft extra: planed both sides, 1/6 per 100 ft. extra, three and four sides, 2/ ditto Flooring boards: Planed, tongued, and grooved. 22/6. 19/6. 14/6. Lining boards: rianed. tongued, grooved, beaded or V jointed. 22/. 19/, 14/. Feather-edge weather boards, planed and shot: Out of ljin material, face measurement, 21/, 18/, 13/; out of li materiaL face measurement. 20/. 17/. 12/. Rusticated and special weather boarding. 22/6. 19/6, 14/6. Ordinary building totara. scantling, 15/. boards 4_tn to 12in. 16/: second-class totara, scantling 11/6, boards 12/; clean heart of totara for joinery, scantling. 22/; rough heart of totara scantling, 16/; rough heart totara scantling. 6x2 and under. 14/: heart matah scantling, 18/6; rough heart matal scantling. 13/; ordinary building rimu, boards, 15/6: second-class rimu, boards 12/----rough heart rimu, scantling. 13/: heart'rimu (framing and bridge quality), scantling, 17/Jr eaU oi', cart rlmD (dressing quality), scantling, 20/. Pigs. — Porkers realised from 19/6 to £1 19/; weaners, 6/6 to 13/6; baconers, £2 2/ to £3 4/. NEW ZEALAND LOAN AND MERCANTILE AGENCY CO.'S, LTD.. REPORT. Horses: At the Durham Yards on Friday horses were brought forward in average numbers and sold under steady competition. Heavy draughts sold at from _2*j 10/ to £:t$ 10/: medium do., £20 to __-i; backs and light harness horses £6 7/6 to £20; springcart, £12; sulky. £11 10/. At Pukekohe on Saturday we held a clearance sale of live and dead stock on account of Mr. S. Salisbury. There was a large attendance and good prices ruled. Cows sold at from £4 10/ to £9 10/: heifers, £2 5/ to £4 5/: horses, £16 10/ to £30; unbroken horses, £6 to 15 10/; pigs, £2 17/6; buggy, £9; drill. IS: mower. £6; fowls. 2/3 to 3/ eacd: geese. 6/6 each; ducks, 3/ each. Cattle: At the Newmarket Yards on Tuesday there was an average muster of dairy and store stock and a full supply of beef. Dairy cows sold at £3 5/ to £7 15/; heifers, £2 12/6 to £5 15/; empty do., £1 18/ to £3 5/; calves, 13/ to £1 ISA Beef showed a slight' improvement on last week's rates, oxen selling up to 23/ per 1001b and cows from 19/ to 21/ per 1001b. Steers sold at £0 15/ to £11 7/6; cows, £3 15/ to £7 5/. Sheep were yarded in scarcely average numbers and showed no Improvement In price. Wethers sold from 14/3 to £1 2/6ewes. 8/ to 19/: hoggets, 9/ to 15/9. Pigs: Porkers realised £1 1/ to £1 17/; weaners, 5/6 to 10/6; baconers, £2 6/ to £3 V. We submitted a large catalogue of hi_es, skins, and tallow on Tuesday all lines meeting with good competition at late rates Hides: Market firm for all well-flayed o_! scored, cut, and damaged being ____ of sale" We quote—__tra. stout or, 7d to Tj_- stout

6}d tot£}d; medium do., ojd to 6d; light do., 5d to s_d; cows', best lines 3_d to 4d, scored 3i to 3Jd; kips, 2-.d to 4_d; calfskins, 3Jd to sd; stags', 2jd to 3d. Sheepskins; Market brisk. Best butchers' 1 skins large to 3/. good lines 2/8 to 2/10, medium 2/ to 2/2, small 1/6 to 1/9. Tallow: Market firm. -Best mixed, to 23/; good, 21/ to 22/; inferior. 16/6 to IS/S. Rough fat, l_d to l_d per lb. Cowtails, 1/S per dozen. Bones, £4 15/. (- Horsehair, 1/ to 1/4 per lb. ... t ! . Wheat is slow of sale at 5/1 ex store.. ' Oats _re moving off slowly at 2/11 to "3/ J es store. r! Maize Is in good demand at 4/9 to 4/10 on wharf. . 4 Butter: Supplies are very small and the « market has advanced. Choice farmers' | separator is worth ll*d; good quality, lOd '■ to 10_d: second grade, 9id. Cheese: "Farmers" Is slow of sale at 4d to 3d. ' ' , Fungus Is worth od. HHJES, SKINS, ETC. G. W. kBINNEY AND SONS - REPORT. « We submitted large catalogues of hides, 1 skins, tallow, etc., at Tuesday's sale, all being cleared under good competition. I Hides. —Market continues'firm. Ox, extra stout, 7d to 7_d; o_. stout. 6_d to 6Jd; | ox, medium. 5Jd to 6d; ox. light, 4_d to sjd; i t cows', best lines, 3?d to 3.d. cows', good, aid j jj to 3|d; stags, 2d to 23d: kips, 3d to 3_d; ■ _ calfskins, 3}d to 4d; cut and damaged hides, : _ 2d to 3d per lb. T_ Sheepskins. very firm, under |n Brisk competition. Extra large pelts, to j f 3/3; good, 2/3 to 2/0; medium, 1/6 to 2/; ; b small 9d to 1/3 each. i % Tallow. —Market firm. Best mixed, to 23/; i t good, 18/6 to 21/; inferior, 15/ "to -18/ per fp cwt j 'I Rough fat, 14d to l_d per lb. a Cow tails, 1/0 per dozen. 5 Bones, £4 15/ per ton. LONDON CAB_E. (By Cable.—Press Association.—Copyrighti (Received 8-50 a.m.) LONDON. July 15. Copper: Spot £37 7/6: three ffionths. £5S V 2/6. -Electrolytic. £5S 10/. r Tin: Spot, £130: three months, £131 2/6. c Lead. £13. _. Tallow. At the auctions 1253 casks were 1 oiTered and 051 sold. Fine mutton brought P 34/3, medium 31/: fine beef, 33/3, medium » 30/6.