FINANCE AND COMMERCE.

Press, Volume LIV, Issue 16221, 25 May 1918, Page 7

FINANCE AND COMMERCE.

BANK OF ENGLAND RETURNS

(By Cable.—Press Association.— (Australian and N.Z. Cable Association.) (Received May 25th, 12.25 a.m. ) LONDON, May 23. The Bank of England returns issued on Wednesday, May 22nd, afford tho following comparison:— May 15. May 22. £ £ Ooin 61,124,000 62,043,000 Reserve .. .. 30,182,000 30,837,000 Proportion of reserve to liabilities .. 17.22 18.57 Notes in circulation .. 49,977,000 50,246,000 Publio deposits .. 31,457,000 36,434.000 Other deposits .. 133,820,000 1-27,000,000 Government securities 57,317,000 55,581,000 Other securities .. 105,522,000 97,304,000 Short loans, 3i per cent.; three months' bills, 3£ per cent. GOVERNMENT SECURITIES. The following are tho latest quotations for Government securities, with a comparison with thoao ruling last week: —

SHARES. Waihi—Buyers 3F.3 6d, sellers 37s 6d: Junction, buyers 153 Gd, sellers 16b 6d; Talisman, buyers lis 3d, sellers ISs 9d. METALS, Tin—£3ss. Other metals unchanged. CEREALS. Wheat-—The market- 13 quiet. Flour—Tho market is unchanged. Oats, peas, and beans—The market is firm at full rates. SUGAR. The market is unchanged. DAIRY PRODUCE. Buttor—Supplies continue to increase, some of Irish make being very largos Choose—Supplies are scarce, but plenty is being maufachired. It is expected that fair supplies will be available from July onward.

"WHEAT AND FLOUR. CHICAGO, May 23. The visible wheat and flour supplies east of tho Rockio3 is 4,591,000 bushels.

CHRISTCHURCH STOCK EXCHANGE, LATEST QUOTATIONS. Buyers. Seller*. £ a. d. £ s. d BANKS— Union mi .. 56 2 6 — BREWERIES— Crown .. — 1 10 .0 Mannine .« .. 3 0 0 3 2 6 CEMENTS— Golden Bay m 018 G 10 0 COAL— Taupiri iwi •• — 0 19 0 FINANCIAL— Dalgety (esc div.) .. — 9 7 G N.Z. Loaa and Mercantile (cum div.) .. 86 0 0 — N.Z. Loan and Merconr tile (pref.) .. — 63 0 0 INSURANCE— Fanner d' Co-op. Assn. (pref., £5 paid) .. 76 0 —* Farmers' Co-op. Assn. (prof., 50a poid) .. 313 0 — National .. — 2 19 0 iScw Zealand • • 0 2 6 — MEATS— N.Z. Refrigerating — IIS 9 — SHIPPING— New Zealand (6 per cent, pref.) 10 10 0 — MISCELLANEOUS— D.I.C. (6 p.o. pref.) .. — 10 3 N.Z. Consolidated Dental (en div.) .. 15 0 — N.Z. Farmers' Co-op. .. — 2 3 0 ■Weeks, Ltd. .. 1 ... 512 6 — MERCHANDISE,

Business during tho -week haß been good, in some retail trades, particularly drapers, extremely good. There is a belief in some quarters that the flotation of the twenty million loan follows automatically the closing of the £9,500,000 loan. It is quito erroneous —w© shall hear all about tho new loan before it is put upon the market—but in any ©asa tho belief does not appear to be affecting the spending power of tho publio Reference was made in this column, a day or two ago to the growing tendency towards combination for co-operative effort in trade. Wo note a development in this direction in thee© colonies. An important conference of representatives of Australian and Now Zeitland co-operative companies opened in Melbourne on the 14th mst. Th© object of tho conference was to arrang© for tho e6tablishmcnt of a Federal wholesale co-operative company for the purchase and distribution of all requirements of primary -producers m Australia and New Zealand. It was attended by delegates from eighteen organisations', including Mr E. W. Relph, general manager of the New Zealand farmers Cooperative Association 'iu Christchurcli, and Sir John Hooton, general manager of tho Farmers' Co-operative Wholesale Federation, of New Zealand. Melbourne papers to hand contain only fhe report of the first day's proceeding, which consisted of addresses by tli© chairman, Mr Basil Murray, of West Australia, and the Governor-General, Sir Ronald Munro-Ferguson, and a discussion on the resolution embodying the aims of the conference. The chairman in his address stressed the difficulties that had confronted co-operative associations, and th© necessity for removing the disabilities under which the producers worked Sir Ronald Mwiro-Ferguson gave au interesting sketch of the work cariied on at Homo by just such an organisation as the conference proposed to establish in Australasia. England, Ireland, and Scotland had each a national organisation _ society. Local societies in each kingdom intimated their retirements to their central societies. Tho chairmen of the three parent societies, with their officials, met once a year in' London as an executive board, where prices wer© struck for the year with merchants and manufacturers, as well as with th© co-operative producing societies, for the supplies needed by the local for the whol© of the United Kinedom during that period. This board also facilitated the placing of products of local societiss on the market, and in this way each individual co-operator could buy and sell with ecual success If this system commended itec-lf to the conference, each Stat© in Australia should have its own federation of local societies. Each on." in turn would federate with a central Australasian society. _It should then be easy for the represenintiv© of this central body to be in touch v-ith th© central agricultural organisation bonrd in London, and buy there at ground-floor pries, while placing Australian and Xew Zealand products on tho European markeia to the best advantage. HARDWARE. Tho retail trade is keeping up very well, but wholesale business is showing the steadying effect of short supplies. Business is sound, payments being made most satisfactorily. Iho old-established retail firm of Messrs Congreve and Son have disposed of the balance of their stock to a Wellington firm, who are having it packed for shipment north. Shipments that hav» recently arrived comprise a {jood assortment of English hardware-, and a number of retail lints that were urgently wanted have come to hand by paioel post.

A steamer from New York bringing a general cargo for tho Dominion is exps'rted before long. T r.o other vessels are reported to be on tho berth at New York for New Zealand loading, aid there is some talk of a vessel

DOMINION'S TRADE AND MARKETS.

direct from Canada. Advices state that there will be a great shortage of shipping from Great Britain for two or three months after the arrival of tho r.ert two steamers. Consignment® or prepared paints, of local manufacture, are arriving: regularly from Australia.

Market prices of heavy hardware lines are stationary.

The present price of tin beats all records. About a foitnight_ ago it was quoted at £410 per ton in New York and £395 in San Francisco, a £20 advanco in leas than a week. Th» same advance took place in Melbourne, where tin, both spot and forward, was quoted at £360. The previous record was ±"233, in 1911, and again in 1912 in London." It was not until tho beginning of last year that tho mett; began to 6how in any marked degree the effect of the war. At that time it stood at £181. Early in the present vear it had advanced to £283 10s, and since then the rise has been almost continuous. At the present time no ingot tin is being exported from Australia, as none is offering. GROCERIES. Advances have taken place during the week as follows:—Patent groats and barley 2s 6d, .bpeom salts Gd per bos, clothcs pore Is 6d, clo y «» (now landing) Is per lb, Cross and Black well s curry-powdir 2s dozen, Singer's egg-producer 3s dozen, pepper 3d per lb. lhe supply of salt in the Dominion is not large. Jiost of our salt comes from Auslalia, where ]„ js obtained by evaporation from salt water lakes. Owing to wet seasons the "crop" has been a poor one ■Vi'., a Australian buyers came over here, with the result that ealt rose from £4 and T? ° £ 16 per ton, and to conserve stocks in „ h „° i <a e^ ort from Zealand "as prohibited. Quotations, f.o.b. Adelaide th * {rei sht problem is salt e, 'pplies of a carton salt arc now on the market at le Large packets of Creamoata havo advanoed 2s per dozen, but there has been no change yet in the price, of email packets. for C lwnd°?'° miU * qUOted at a 3(te n ° J e!, Y crystals are arriving from England, .the whole demand now comes on the local manufacturers, who are reported to a f I( ? l , y in " ctlia " Rclatine. There nr>'L« f Pr 7 a . considerable increnss in prices for tho coming season, tome brands having already advanced. Ze^H^n^ 113 are Tll ? ,v -' boin " made in New TlTe ( v arC s . l J p ? l^ n ? *•>* local demand. iWo?W rm said t0 equal to the best imported. They are taking- the place of Epsom salts, which from Is 2d per bos have now advanced to 5s Gd. , b . roo °f 11370 advanced in New Zealand during the war about 33 l-3rd per cent. Broom millet used to bo obtained from Italy, tho United States, and Australia. 1-alv is, of course, out of the market just now, the American farmers axe patriotically growing wheat instead of broom millet, and owing to the unfavourable season' the Australian product has lately been, selling at as high as £100 per ton in Sydney. Slocte are eo short in New Zealand that between the end of the year and nest March they are expected to become non-existent altogether. Henoe the rise in price of the domestic switch.

A fammo in brown paper and ba»a is threatened if the position: does not and we may yet have retailers requiring customers to Bring their own paper for their paroels, as is done at Homo. Waste paper is worth saving nowadays. The younger generation will hear without rcgTet that tho export of castor oil from tho pld Country has been prohibited. This step, it is understood, is bccauso it main-tains its liquidity at a lower temperature than any other oil, and is consequently most valuable as a. lubricant for aeroplanes. The export of crude castor oil in small quantities is permitted, as it is needed for lubricating machinery. Pure castor oil will be unprocurable in Ohristchurch when present stocks run out.

Safety matches may show a further advance if reccnt developments in Australia continuo. The Government there reoontly fixed tno wholesale prico of locally made safety matches at 3s Od per gross, and of.imported safeties <vfc Cs per gross. It is claimed that, as most of the raw materials of which safety matches are made have to be imported into Australia, and as the cost of theso materials has considerably advanced, whilo freight rates have increased "beyond belief," the Government price does not allow matches to bo madu at a profit. This is the argument of tho only match-making firm in New South Wales, and it has accordingly closed down its works. A Victorian firm, on the other hand, contends that tho price pays, and intends to continue manufacturing. Tho Prices Commissioner was, however, to make further enquiry into the matter. The chief objection to the rato for imported matches, which aje almost wholly Japanese, is said to be raised by direct importers whose profit is now officially limited to 2} per cent, on landed cost for new consignments, and to 5 per cont. in the case of stocks. The outcome, it appears, is that fresh importations from overseas may stop. 11l any case, the cessation of manufacture in New South Wales will increass the demand for Japanese matches, with the usual effect upon prices, which are already some 60 per cont. to 70 per cent, higher than they used to bo here. Plaid matches (retail) have advanced from 9d to lOd per packet during the week. Tho ©spected rise in tea has not yet occurred, but as tho market is hardening all tho time, it is still regarded aa probable. At tho time one large dealer expressed the opinion yesterday that later on the price might fall, instead of advance. Tobacco is another commodity that may advance one of these days. The itcreaee in prico since tho beginning of tho year has already been considerable, Juno (boxes) having riasn from 2s 6id to 3s -ljd, dark Havelock from 2s 7d to 3s sd, and Aromatic from 3s lid to 3s od. Duty (3s 6d per lb) and primage have of course to be added to these prices. Retailers can also no longer buy in cass lots, the wholesalers restricting them to boxes, which adds another 3d or 4d per lb to the coot. Rice shows a marked tendency to advancc. Further supplies of benzine are to hand, and should be distributed next week. It is understood that a large part of tho consignment was sold before arrival. The position in regard to caU3tio soda is still acute, and if supplies are not forthcoming the New Zealand soap factories may be seriously inconvenienoed. TEXTILES. There has been little fresh to record in tho soft goods business during the week. The wholesale firms appc-ar to have resigned themselves to a condition of affairs in which they find it impossible to regulate their stocks. Thoy forward orders, but receive no assurance as to price or time of delivery. It was stated yesterday by the representative of one house that it would pay the wholesale firms handsomely to buy the retailers' stocks at the price at which they are now oficrad to the public. They would get the gcoda cheaper than they can now land them from Home.

Priccs change almost from day to day, and always in the onr A ease in point was an order for silesia at 7Jd placod with a local a!*ent and cabled to the manufacturers. By tlio time tho cab!c reached the latter the price was Is 3d. The order was not confirmed.

Flannelettes ordered in March at 7|d and lid are now reported by cable to havo advanced to 11 Jd .and Is lOd respectively. In I tho case of another order, for sines clotli, at 6?d, word was received that the factory had closed down, hist that another manufacturer would take over the order—at Is 4J-J. "The romance of trade" waa the comment; "I call it a tragedy." COENSACKS. Private mail advices* received in Australia frcm Calcutta state that the Indian Government has taken control of the shipment of all corneack3 to Australia, and hps locally fixed i the rate at 40 rupees per ICO baps (about 8s per dozen). It is erpocted that the embargo will be removed by the end of June. SOAP FROM MAIZE. ■South Africa is vitally in want of more industrial enterprise (writes our own correspondent). A new and promwincr line of production and export is indicated in the recent discovery that soap can be made from cereals ! such as maize. Thia is an important discovery in many ways, ea even before the war there was a rapid/y crowing short.-irre of f«Vj and oils. Not only can soap be made without recourse at all to fat«, but Dr. Shoiter, cf Leeds University, who has been carrying out experiments, declares that the new soap m.i-?e from cereals i-i m'teh better tiinn f}i o old soap made from fats. One great advantage of cereal eoap ir, that it is ur.aifec'.ed bv tho lime in bard water, which caus?s such great waste in the use of tho present fat soaps. CANTERBURY MARKETS, (UT OCT. COMMERCIAL EDITOR.) Friday Evening. Tho quantity wheat available in tho ■ United States toeupply the 75;000,000 bushels nf for bv Lord Rhondda waa xecenUv a

matter of some doubt. "Broomhall f of March 6th reports: —"Grain reserves in 'ho United States aro said to bo 175,000,000 bushels, and tho total visible supply is some 30,000,000 bushels, iu all aggregating 205,000,000 buahela. American requirements on tho basis of 8.8 bushels per head for five months amount to 165,000,000 bushels, while 30,0C0,0C0 bushels will bo wanted fox spring seod. therefore obvious that if America is to ship the 75,000,000 buahels already mentioned, larger quantities must bo found in some other quarter, or the farm reserves mua« be substantially larger than now estimated. It ifl quite likely that there are much larger quantities than usual in some commercial channels ar.d indeed this must be the case, p.s authorities recently elated that, instead ot the wheat coining to tho usual primary markets, it wis being directed quietly into the mills os tho country, and there was an aocumulation of supplies. Therefore, probably a large pert of the invisible supply of wheat is in the form oi flour." Private cable advice was received in Melbourne on the 15th ircnt. that tho crop P pects in North America are good. Official fi<rures of the Indian crop are a record, although the yield ie below expectations. Liberal supplies aro available in Argentina, while the outlook in the United Kingdom and Franco is favourable. The total quantitv of wheat reported by the "SWat ControlleV as threehod to date w 3,065.751 bushels, an increase of over a million buahels on the figures published a fortnight ago. This total is more encouraging, but it is less than two-thirds of what is likely to be required this year, considering tho low quality of much of tho grain. Tho offerings continue to be very light, both of milling and fov.-I wheat qualities. The southern oat market is reported to be a trifle firmer, there being more cnquiiy from the North, but on tho other hand it is stated that northern buyers are not very keen to do more business at present. The offerings everywhere by growers tiro now short, espcciall}* in Canterbury, wherd Ihero ha-ye boon few sellers einco tho recent check in prices. There hatintr be*n no steamer loading tnis week for Auckland or Xew Plymouth, business in those lines required by tho northern markets has been more or less restricted. Oatalicaf ehaff is -practically -unsaleable unless of prime quality, and there is none of this class offering. Wees are consequently inclined to bo easier, and £3 30s at country stations is probably tho highest nominal figure. Tho potato market :s quiet, although there is a fair amount of purchasing being done at £5 to £3 5s per ton at country stations, according to quality of the tubers or to railage. Tho South Canterbury crop is reported to he more seriously damaged than that further north, and supplies sent from there to Dunedin have apparently not arrived in very good order or condition. It is reported that Timaru merchants haws been making purchases in Christchurch, in order no doubt to fill the forward contracts made in the northern markets. The Melbourne _ market has advanced, so that further supplies from there will be .'snded at a higher figure. There is very little business doing in seede. Tho price of cloven? lias cased at Blenheim, whore the crops are larger than anticipated. It is reported that thcro is a largo quantity of red clover not yet threshed in Canterbury, but owing to tho poor yield that may be expected, it is probable that it will bo fed to stock without threshing. The following or® the prices paid to farmere n.t country stations, free of commission, sacks extra, except -where otherwise stated: —• Milling wheat, according to Government price, South Island, May 5s lid, June 5« Hid, July 6s, August 6s OJd, f.0.b., North Island, 4d additional. Oatfv—Seed Algerians 4e 3d to is Cd, teed 4a (<, 4e Bd; milling Gartons 4s 3d to 4« 4d, feed 4s Id to 4s 3d; seed Duns 4s 6d to ss, lighter 4a upwards; good quality Danieh to 4s Gd. Barley (nominal) —Prime malting 6s 3d to 6s Gd, medium 5s 9d to 6s. Flour—£ls 10a per ton: 1001b bass, £16 sa: 50lb bags, £16 10s: 251b bags. £16 15s. Bran —Shipping £5 ,10s, local £5 ICs per ton. Pollard—£7 10a per ton. Oatmeal—2slb bags £26 per ton, 71b bags £2G per ton. Oateheaf Chaff—(Nominal), heavy bright £3 6s to £5 10s, medium £4 15s to £3, inferior £4 to £4 10«. Cocksfoot—lold to lfl Sd. Ryegrass—Heavy Perennial 4« Gd to 4a 9d, lighter 4s to 4s 6d; Italian 8s 9d to 4a 3d" West-erawolths 4s to 4s 6d. " White Clover—Clean Is 3d to Is Cd. Red Clover—ls 3d to Jo 6d. Peaq— Partridge 7s to 7a 3c"l, Whito Ivory 11a 6d to 128, Blue Prussians 15s to J 6s, Blue Imperials lGe to 18s. Scotch tares—los 6d. Beans—6s 6d to 6s Od. Rape Seed—4d to 4Jd. Oniona—£s os to £3 10s. Linseed —£22. Potatoes—£s to £5 ss. THE WHEAT SUPPLY. 4,000,000 BUSHELS THRESHED. Tho foil-owing figures 6how the operations of the wheat purchase scheme up to May 23rd:— WHEAT THRESHED. BiHiels. Tuscan or longjxsrry ». 3,686.666 Hunter's varieties .. 53f,583 Velvet or Pearl .« G<1,471 Seconds >.« .. 203,029 Total .. .. 4,065,751 CONTRACTS TO PURCHASE GOOD MILLING. Bushels. Tuscan or longbeiry .. 2,411,600 Hunter's varieties .. 714,347 Velvet or Pearl .. 523,770 Total .. .. 3,649,717 FOWL WHEAT. Seconds .. .. 334,265 PAYMENTS TO BROKERS. Amount paid to brokers .. £869,033 DAIRY PRODUCE. Theio aro no changes to noto in dairy produce, supplies being normal, ezcopt egga, which aa-c still scarce. The wholesale prices' are:— Butter—Factory Is 6d net, farmers' separator Is 2d, dairy Is. Cheese—Factory 10d, dairy 9d, loaf 9.Jd. ' Bacon—Sides la 2d, rolls Is 3d, hams la 3d. Honey—Extracted 6Jd to 7d per lb, Egga—2s 5d per dozen. FRUIT AND VEGETABLES. The market hue had good supplies of vegetables, onions, and potatoes sent in during the week. Apples and pours are scarcer, and prices are firmer. The average wholesale priccs aro: — <

Applee, dessert 7s to 8s Gd per caec, Lord Woiseleys Cs to 7s 3d, other cookers 4s Gd to bs; pears, dessert 7e to 9s, cooking 4s to 5e Gd; bananaa, 203 to 2ij Gd; 'Frisco lemons 30s, South Australian lemons 16a to 20s; Cook leiucd- oranges 8? fid to 13s, Sydney oranges lis to 16s, 'Frisco orangcG 25a to 30s; mandarins, 17a to ltis per gin case; pineiipplee, 15s to 17s per case; passions, 13s to lis; Cape goc-Mberries, 6s Cd jier bos; grapes, 3a (o Is 4d per lb; walnuts, 7d to l)id; chcatnute, 3d to sd; mushrooms, 10d to Is Id; hothouse tomatoes 7d to lOd. Beet, Gd per dozen bundles; carrots, 6d to 8d; locks, i<l; pai3nips, Cd to 8d; radishes, Gd; rhubarb, 3a to 4a; spring onions, b'd to Jj; turnips, -Id to Gd; cabbages, 6d to Is 3d per dozen; cauliflowers, large 2o 9d to meuium la Gd to 2s 3d; lottuco, 3d to 13 4d; marrows, Is to 25, pumpkins, 2s Cd to 4s Cd; cucumbers, Gd to 8d per lb; celcry, Sd to lOd per bunch; kumaras, 7s per caß&, Brussels sprouia, 5d to 8d per lb;'onion3, -7a 10 8a per centaj; potatoes, lis to 13s per sack.

niIARC. (special to "the rurss."'* _ M TlilAUtf, May 24. Wheat appears not? to be getting into small compass und offerings are on tho li"ht side. The quality 011 the who.o durin" the season .has been better than was expected | and there has not been so largo a proportion rejected as it was anticipated th-re would be. What has been rejected from milling parcels has met a good demand for fowl wheat. Oat a are inclined to firm in -the Bunplyin" centres. Only an odd lino is offering in limaru, and values aro quoted at 4s 3d to 4s Cd for Gartons, -is ?d to Zs for Duns (according to coiour and weight), and 4s 3d "to 4s -3d for Algerian.". There is' a (rood demand for chuff from 4 cir j bul merchants are slow to fill orders owing to spaco shortage. Offerings oi good quality are email and second ciasj quality 13 r.oi cr.011u«I for. Prime lines are worth £5 ICa on trucks, country stations, whilst medium lines are t/orth £3 ICa to JC4 10s. The potato market is at "a standstill, there practically no buyorc and very few sell®re. Linseed, cf which there anDeirs to be more than tho usual quantity in South Canterbury this season, is offering, and a coupld of line 3 changed hands this week, one at --2 10s per "ton on tru:!sa, at a country station, and the other u.l a shade more. The marlsrt has shown an improved tendency during the pact few days to the falling oif from Australia of supplies from Calcutta and Japan through lack cf shipping , space, thus throwing Australian merchants on to tho New Zealand market ior their eupplics. The valuo to-day is quoted at £-3 to £23 10s per ton, 011 trucks, sacks extra. The market is over supplied with white I clover and values havo suffered accordingly. Fai* Quality ooc<l cftn be - bought st 1b 6d

per lb. us against 2# at the openmg of the season. Hod clover is not offering in any quantity yet. Tho markot is expected to open at about Is 6d per lb. The tendency of this market is towards firmness. DUNEDIN. (SPECIAL TO "THE PR*SS.") DUNEDIN, May 24. The oat« market is inclined to bo o littl® £rmor, there being more cnqninw from til® North, and there is not a great deal offering from tho country. Quotations ato nomii:allv 4s Bkl to 4s 3d for "A' Cartons and 4s Sd (or "B'e". There is enquiry for Duns and Blacks. but very few are offering at present. All lines of milling , wheat are Teadilv taken bv millers at .Government rates. Fowl 'wheat is" in short supply. The. potato market is being well supplied from Canterbury and northern districts, but many ot the consignments are more or kse faulty and badlv gradod. Thcro is a good demand for prime chaff and all consignments lnee* a ready Bale, BLENHEIM. (SPECIAL TO "THK r*ES9.") BLENHEIM, May Of Chaff remains firm at £6 10s for prim« samples, and there is plenty available at first-class quality. Thcro is "till ft c " n 2** tion ou tho wharf, but shipping is gradually moving accumulations away to various paw of the North Island. Barley of good malting quality is much eought after by the oj®*" chfints, and a fair quantity coming forward- There are substantial quantities of good marketablo sc<}d potatoes coming tc hand, eoveral crops having missed tho bltgli« Priooe paid to farmers range from it 10a to £6 per ton, according to qualitv lable p tatoes are also in lair ""P.P 1 * Clor f?jJ w white and red, are still being threshed. Several large line® are yot in the etaoka, and U £ cxpcJU that they will be dealt bv the machines during tho nest few Prices paid to farmer* aro inclined to bo lower than those ruling P lO )n h count of tho fact that tho offermgs havo exceeded expecations. Lucerno seod con tinues to come, forward in fftir .^' an^ lt and Is per lb « being paid to farir.»r« tor good quality sample*. There in a■ K°°Sl demand for Marlborough Feed Island, where lucerne §r° wln K .***£* becoming popular and profitable. M*l> chants still hold small etocks ofryecor* grown locally, hut the supplies aro short.

AUCKLAND. (SPECIAL TO "THE FRK3S.") AUCKLAND, May 24. Durin- tho week coastal stepping has"* 11 roved slightly, but arreius are not 2t up,anda decided shortage stall ex*ta in several lines of produce. . , w* Tho quotation for potatoes remains » "iho oats quotation remains at I otorc in small lines. Growers in Canterbury are offering rather/ heavily, but tVie shappmß facilities on the Coast aro very limited, and business is restricted accordingly. . Onions are ecliing quietly at £10 « «toirs buyers of this line being ftlaorolnctantta commit themselves to large holdings, in vw of tho poor keeping quality of so many of ttw samples offering, otherwise there would do a lveavy- demand, as everything points to » aliortogo before long. . Iu regard to' ivhe&t> ill© local Hi ills awj now endeavouring to overtako tho arrears oS orders for flour, good snpplias of mulm~ wheat being to hand. This is increasing tins quantitv of bran and pollard for local sale, but the" quantity is still insufficient for orders on hand. Little is arriving from tho South. Fowl wheat is also arriving from tho South, in email quantities, and is being eagerly taken up at 7s 6d ex store. ... Australian maize is supplying the bulls of the trade, as coastal arrivals navo been quite insMrnificant during the woek. Supplies of new maize from tho Coast hare been on ofler, and these have given general satis, faction, although it can easily b© eean that the grain woidd not stand any storing. Australian is selling well at 7a Gd to 7s Od «x store. The chaff market, has been better supplied during tho past fortnight than it has boen this year, but it has been surprising to nots tho large quantity that haß gone into imm<* diato distribution, leaving wholesale stock* quito moderate. Very little local has com* in this week, growers having taken tho opportunity to unload their surpltw whila southern was sca-ce. Canterbury is still quoting at moderate rates, but tho market ia firm at Blenheim, although good qjiantitu** are held ready for shipment.

1'rioe Prici last week, to-dar. £ b. d. £ b. <1. 2 per cent. Imp. Con. .. 56 10 0 66 10 0 5 per cent. War Loan .. 94 10 0 93 12 6 j| T Per °® nt - War L °an .. 87 10 0 87 15 0 N.S.W. 4'a, 1933, Jan.-x-o«J ly . .. 8i 5 0 81 7 6 h.S.W. Si's, 1930-60, ilch.- .. .. 70 2 G 70 2 6 N.S.W. 3J's, early cur- , •• ..100 10 0 100 12 6 N.S.W., 3 s, 1926, ApL0ct ; . .. .. 71 0 0 71 10 0 ]> io. Is, 1929, Jan.-Jly. 98 17 G 98 12 6 Vio. 3$'s, 1921-6, Jan.- _. Ju !y .. .. 88 15 0 88 13 0 Vic. 3Vs, 1929-40, Jan<Jly. 6D 5 0 68 7 6 Vio. 3's, 19-23-40, Jaru-Jiy. G2 2 6 62 0 0 Qland. 4'b, 1915-29, Jan.July .. .. 91 10 0 93 0 0 Qland. 3j'a, 1921-30, Jan.. Nov- .. .. 89 0 0 90 10 0 3'a, 1922-47, Jan.- , July .. .. 62 10 0 63 0 0 iN.Z. 4'a, 19-20, ITay-Nor. 86 7 6 86 15 0 N.Z. 3Ve, ;94U, Jan.-Jly. 73 10 0 73 10 0 N.Z. 3's, 1945, Apl.-Oct 62 7 6 62 0 0 S.A. 3J'a, 1939, Jan.-Jly. • 73 0 0 72 17 C S.A. 3'Sj 1916 or after, Jan.-Jly 57 2 6 S7 S 0 Tts. 3J 3, 1920-40, Jan.- „ Jlll y „ •• .. 72 15 0 72 17 fi Too. 3 b, 1920-40, Jan.-Jly. 65 0 0 65 0 0 W.A. Si's, 1920-3S, Mayirr , Xo7 ", - .. 75 3 6 75 5 0 W.A. 3's, 1915-35, MayiT ° v - •• .. 68 0 0 70 17 6