COMMERCIAL.

Auckland Star, Volume XL, Issue 137, 10 June 1909, Page 7

COMMERCIAL.

"Au.cHan.cl Star"- Office,

Thursday, May 10, 1009. Ta.er& has been, no Increase in the business coming forward during the past week, and tilings at present may .be best describe ed as quiet, with, an absence of any heavy orders. At this period of the year, some of the. houses are preparing for stocktaking, ' and ; this doubtless is a factor which is curtailing the orders reaching the wholesale houses. A growing improvement is noticeable in the oversea market, and from the increased quotations which are being given, ; it Is evident that many of the lines are on a much firmer basis than has been the case for some considerable time. 'Sago and Tapioca.—Both these lines experienced a shary decline, but only for a short duration, and prices are now on 'the up grade. Haricot Beans.—The sale is now improving for this article, and the new crop which shtrald reach here early in July will arrive to a good market. Cornsacks.—There is a difficulty in procuring supplies, owing to the heavy sales which the last shipment met with, and holders are asking higher prices for what are on hand. Gingers.—ln view of limited stocks on the Japan market, those varieties are not likely to decline, and the position ahead may be regarded as nrm. Tartaric Acid.—Present quotations are unusually low, and shoud tempt buyers to place their orders. Camphor.—.Local stocks are moving off well, and news of an advance woud not he unexpected. Canary Seed.—Advices state that owing to drought interfering with the sowings, prices are likely to further Improve. Hemp Seed.—Forward orders are being placed nt higher rates. •Peppers.—Both black and white have recovered from the recent decline, and now show Indications of moving up again. Seeded Raisins.—'Stocks are getting low with a steady inquiry maintained. Cornflour.—The anticipated advance has now been confirmed, cables having been received to that effect. Candles.—A brisk demand continues for all well known brands. Fungus.—The market remains unchanged and supplies continue moderate The demand for kauri timber for the London market continues good, in fact there is practically an unsatisfied inquiry at the present time. The millers are- however, still ti ibled to find an outlet for the other portions of the kauri, as only the best heart is wanted in England. Meanwhile, building locally is not so good as it was. and will probably remain in that condition till towards the spring, and this means a less demand for medium kauri. Added to this the rimu from the King Country mills is competing on this market and rendering it more difficult to dispose of the medium and second-class kauri.

Although the market for kauri gum has been somewhat quiet all this year, still a hopeful sign Is the fact that a much larger proportion of the business done has been bona fide sales, less gum being sent on consignment to London, than has usually been the case. Heretofore It has been the custom in dull times to ship gum on consignment to London, but apparently this practice is falling into desuetude. This should also indicate that stocks of gum held in brokers' hands are not large The supply of gum sent in for the month to date totals 132 tons, as compared with 216 tons for a similar period In April. The Mokoin took away a quantity of gum -this week for transhipment In Sydney Business has continued brisk on the Exchange during the past week as far as shares in mining companies are concerned Waihl shares have firmed a couple of shillings during the last few days, changing hands at £0 5/ at the late call yesterday. It is gratifying to learn that as usual the bullion from this mine for the year 1908 exceeded the estimated amount of value, thus bringing up the output for the twelve months to £030,122, which constitutes n record for this mine. Grand Junction shares fluctuated considerably in value, sellers from the South forcing prices down to 39/6, and then buying from London cawed 43/ to be reached the next day. Waihi.Extendeds had a good deal of attention since last report, selling from 6/6 to 6/8. Talisman Consolidated shares had frequent sales up to 52/3, and Wnihl Consolidateds changed, hands daily nt 2/8 to 2/9. N.Z. Crown shares advanced from 5/8 to 6/2, but a strong attempt wfts made to force down the price of K&rangahakes below 1/, at which fignre a good many thousand shares changed hands. Thames lines firmed all round this week. Kuranui shares rose yesterday from 10d to 1/1. and the la-tter price was also ■paid for Victorias, while May Queens sold freely at 2/4 and 2/5, Saxons at 2/ to 2/1, Watchmans from 1/6 to 1/10. and. back to 1/8, and Alburnias up to 1/7, at which price more could have been placed. The Investment stocks advanced In price as soon as the lines offered by tender in ..the Knos estate were disposed of. Gas shares, which were allotted at £14 1/3, since sofd iat £14 15/, and N.Z. Insurance and Bank of New Zealand shares, also firmed in price. Gisborne Gaa sold at 53/6. and South British Insurance at 49/, while for preference Auckland Tram shares 22/3 was asked. Several transactions took place in Kauri Timber contributing issue at 14/9 and 14/10, and Burfoot Wheels also changed hands at good prices. Potatoes.—The market for potatoes had been bare of stocks for some two or three i-weeks owing to the average of arrivals from the South having been light by several of the steamers. This was no doubt due to the diseased state of the Southern ipcrta-toes this year, which caused farmers to: put them into pit. The reason for adopting this course is that growers are in a short while able to ascertain which tubers are •safe to ship, and thus avoid risk of loss on) consignments. In face o£ the continued ■ shortage of supplies, merchants here decided to draw upon Tasmania, and about

1500 sacks arrived from that quarters -by the Alokivia last Monday in excellent condition, and, therefore, readily commanded ±'6 10/ per ton. It Is exceedingly difficult to forecast at the present time the- future of the potato market. Statistical reports show that in New Zealand slightly increased areas were put under potatoes, but as the blight has been prevalent it becomes almost impossible to estimate what will be the actuoil yield at potatoes fit .for the market. The present quotations for Southern potatoes are £5 10/ to £5 15/, and for Taemanian £6 10/. Oats.—A perceptible weakness prevails in the market for oats, despite the continuation of export to England. The quantity being sent away will not have any appreciable effect upon the large stocks of oats , held at the present time in the South _Island. This fact is evident when it fs re membered that apart from there being an increase of 14.408 acres under oats this season the yield all round has been a heavy one. This has caused prices to weaken, as a decline is looked for when threshing -is resumed early in the spring. The V/airuna is now loading at the Bluff, and for lines to arrive here the quotation now stands at 2/1 for B grade, and the store figure Iβ 2/3 • per bushel. Maize.—The price for maize has steadily declined during the past three weeks, until on Monday 8/9 was touched, which is the lowest point at which this grain has so d for some considerable time. The bulk of the arrivals lately represent soft new grain, in which merchants are only inclined to deal on a small scaJe. As with oats, the heavy yield is the cause of the decline in the market for maize. As a matter of fact, the yield of maize this season >is an extraordinary one, larger than has been the case for many years past. Gisborne reports point to a larger area .having been under maize, coupled with a much heavier yield. There is every reason, in the face of these facts, to expect that a further decline will take place in the price of maize. Good dry samples are at present quoted a-f 4/2. Barley.—Owiug to the high price that had been ruling for maize, business in feed barley has been good, but the sudden drop in the price of the former grain h*H beeu followed by fewer sales of barley, "with the result that the wholesale quotation is iiOiv flsfid at 2/0: Milling Wheat.—The wheat market is now very.firm, and any,lines offered at an equivalent to present London rates for this ' grain are immediately snapped up for export. The price millers are now paying for wheat and selling flour at shows a loss. Fowl wheat continues to meet with steady sale at 4/7 ex wharf, and 4/S ex store. Bran and .sharps are meeting --with fair inquiry at fate rates. 'Chaff.—Local supplies of chaff have ,been very heavy, and the price is now £3 5/ per ton at country stations. Southern chaff Is also coming forward. The Rosamond, which arrived yesterday at Onehunga, brought shipments of Picton chaff of prime quality, which sold at £4 5/ at the station. .Onions.—-Stocks of onions are large, but great trouble is experienced in securing samples of pood -quality. The price has declined to £R ex wharf. £6 10/ ex store. Agricultural Seeds.—The business in these lines at'present is confined to nn early demand for seed Victorian Up-to-Dare pota- ' toes. .These readily command &S per ton. , and they have the advantage of being entirely free from the blight. Majiiires.—Business in fertilisers is anil , >at present, although there Is a little Inquiry ■ setting Iα for early, potato planting.

AUCKLAND iIAEKBTR =°a Dairy ProSnce. — Butter, «acper * lb ' separator Sr dairy butter, 6Jd per lb; egg ß , 1/8 -l r * J, en wbol esn!e; cheese, farmers', from &£ ?w, pe «.U :^fS^a^ 7d: w ** Flour. — £12 per ton-(less discounts); wfteatmeal, .£l2 per ton (less discounts); £6 2 /6; bran,.£4 12/e per"ton oatmeal, £13 per ton ior 25's, wholesale. Gram. — B grade, 2/3; ex store; Soutaern milling wheat, 4/7, f.0v0., sacks extra; nn ft +h 3/9 ' g° oli dry for wholesale lines on the ivharf; barley 2/9. Potatoes. — Southern, £5 10/ to £5 15/ P e r ton, wholesale; TSemanian, £8 10/ tJtvt- Sorf i<?/ tO ' - : ' flCtOn ' £ * 5/per Onions. — Local, £6 10/ per ton 'iwhDer.—Ordinary building timber, unfnTh up to 24Xt lo ?«' » ln to iin «~- more in thickness, and fr6m 31n to 121n wide, flr st-clas3 20/, medium 17/, second class 12/ per 100 ft; undressed boards, up to 24ft long, not exceeding 12in wide and &ln thick. 17/ as/ t • H art 6tt x 61n i Jin, as/ per 100 palings; rough heart palings, fini X k' Q *, 3in - 31/ Der 10 ° PaUnga; rough , Rrt-2f i?™? s ' 9Jn by 81n - 8/6 = wide boards, i p r«i°° f '-s-npei-fidel, extra for every Inch 1° h ln : 1/6; over 421n. by arrangement! ™'j 17 / 6 P er 10 ° ft, superficial; Pining, 1/ per lOOfi extra; "planed fon? cm eS, 0 1/fJ per looft extr »i and t« ses'5 es ' 2/ dltto - fflooelng boards: Planed ln" S h^ a '. and ,f r ?°T-ed, 22/6, 19/6, 14/6. Lliiin c boai-ds: Planed,- tongued, groored, beadwea4J r^ lDte i- -X 1B * "/• Feather-edge weather boards, planed and shot: Out ol tS, B material, face measurement, 21/, 13/, on■ «', °{ liln mat e p lal, face measurement, tw V' i? A Rustlc -ited and special weather'boarding, 22/6, 19/6, U/G. Ordinary . I t ° t / al ". scantling. 15/; boards. 4Jla 1?/R i ' /'' e econd <: l ass totara. scantUnj, J«in'. ards P : clean neart ot totl "-a for Joinery, scantling. 22/; rough heart of totara ecantiing, 16/; rough heart of totara scantang, 6 x 2 and under, 14/; heart matal, e u anm ?& 18/S: rem S h ne « l-t ma tal, srant«Dg, 13/; ordinary building rlmu boards, beart cimu, scantling. 13/; heart rlau (fram"S a nd bridge quality), scantling, 17/; clean la/6; second-class rlmu, boards, 12/- rong* teart riimi (dressint qtlaUty). icantll'ng, 20/. MESSES G.W. BIXNET AND SOXS' REPORT. We submitted and cleared extra larse catalogues of hides, skins, tallow, etc., on Tuesday. Hides.—Market continues very firm. We ?i'° ?, x, extra stout - ,o r * d : stout . 6}d to rd; medium, 6 l-8d to fl 5-Rcl: light, BJd to Cdj cows, best lines 5 3-8.1 to 55f1, good 5d to ojd. seconds 4Jd to i T-Sd; stags'. BJd to 4 1-Sd; kips, 3d to 4d; calfskins, best 5d to CUt Sheepskins.—Market is firmer, with keen competition. Picked skins to 5/4; butchers' 'o/, 1 t0 4/D ' Kood 3/6 t0 */• medium -/G to 3/3, small 1/6 to 2/; lambskins, best to 4/8. seconds 3/3 to 4/, small 2/ to 2/9 damaged 6d to 1/ each. Tallow.—Market remains the same. Best raised, to 22/6: good, 20/ to 21/; inferior, 10/ to 18/ per cwt. Rough fat, lid. to 1 5-B<l per lb. Cow tails, 1/8 per dozen. Bones, £4 15/ per ton. STOCK REPORT. Messrs. Klxon and Co. held their usnal monthly sale at Raetlhi last. Saturday but. owing to the very wet weather, several advertised lines did not come forward. The following were the prices realised at the sale. Sheep: Ewes in lamb, mixed ages, 10/ to 11/7; mixed lambs, 7/3 to 7/"9: store wethers, 10/. Cattle: Store cows poor 24/6 to 27/6. Several cows were passed In. KEiW ZEALAND AND RIVER PLATE LAXD MORTGAGE COMPANY. AN INTERIM: DIVIDEND 1 .- Cable ndvlce has been received from London tbnfthe directors of the Xew Zealand and River Plate Land Mortgage Company. Limited, have resolved to pay an. Interim for the 6ix mouths from October 31, 1908, to April 30. 1909. The dividend yrUX be payable on July X.