COMMERCIAL.

Evening Star, Issue 11696, 30 September 1902, Page 6

COMMERCIAL.

The Oamaru ' Mail' states that in regard to potatoes th«re is a feeling of some uncertainty at present. Some talk of the Government calling for a fresh supply for shipment to South Africa caused a temporary hardening of the prices demanded by holders, as much as £5 being asked in some instances. Business has, however, been done at £4 10s, less commission, at sidings. The 'Lyttelton Times,' reporting upon the Ashburton markets, says that while little business is passing in wheat, inquiry for prime samples continues as brisk as ever, but the quantity available for immediate delivery is gradually (liminishing, and farmers, being fully occupied with their teams, do not care to cart grain just at present, showing thereby the great faith they must have in the future of the market. An advertisement elsewhere announces that owing to the continued hardening in the price of fat stock the late advance in the retail price of meat will ba maintained. Aii application for a patent filed for a Wellington inventor was lodged by Messrs Baldwin and Rayward in the United States Patent Office on August 22 last, and we are informed that on August 28 (six days later) a notification of the allowance of the application was mailed from Washington. This promptitude is said to constitute a, record. ' LONDON WOOL SALES. (Received September 30, at 1.7 p.m.) LONDON, September 29.—At the wool sales to-day all classes were firm in price, but there was less spirited competition. STOCK SALES. Press Association—By Telegraph—Copyright. ■SIDNEY, September 29.—At the Redfern stock.sales New Zealand sheep were in good demand, and there was an improved market. Shorns sold at 19s 3d to 23s 9d; in the wool, 28s 6d to 365. Cattle were below late rates. New Zealand bullocks sold at £ll to £24 ss; steers. £7 10s; cows, £l7 to £2O. OREPUKI SHALE WORKS. The now retort at the shale works is now in thorough working order, and is fulfilling the most sanguine expectations. The cost is only about one-fourth that of the old ones, and the results much more satisfactory. The quality of the oil produced, too, is better than formerly. It is not intended to start in full swing again till the New Year, when the Government's intention in the matter will be made known. It is estimated that the profit on, the year's operations would .have been close on £3,000 had the duty been resumed.—Orepuki 'Advocate.'

FRUIT PULP AND HEMP MARKETS,

The Department of Industries and Com merce (Wellington) has received a report from Mr Cameron, produce commissioner in London, dated August 22, regarding the market for fruit pulp and hemp. The report shows that owing to bad weather the English fruit crop has been a comparative failure. On the Continent the prospects cf large supplies are poor. In California, which sends large quantities of apricots to, London, the fruit this "season is unusually small for bottling, and a larger proportion will be used for pulping. The commissioner is inclined to urge the shipment of raspberry and black currant pulp from New Zealand during next season. The present price for raspberry is about 26s per cwt and for black currant pulp abour 30s, with an advancing market. Every care should be taken about the quality being satisfactory. No 'water sugar, or preservative must be added. Though a shipment of pulp is to a certain extent speculative, the coming season offers a more favorable opportunity than for some years. Prices for hemp have again become firm and satisfactory. Owing to the expected large supplies of Manila, New Zealand had gone down to £2B 10s, but has since risen to £33 to £34, which price is likely to be maintained for some time. Hemp from New Zealand lately has shown much improvement in quality, probably owing to the system of grading by the Government. For some time there has been lesS hemp arriving in England from Manila than used to be the case, as Americans are largely buying.direct. This is like!v to be

to 4 the advantage of shipments arriving from this cokmy. J

THE PREFERENTIAL TARIFF IN CANADA.

How has the preferential tariff worked out in Canada? In 1897 Canada reduced its tariff 12i per cent, in favor of the domestic exports of the United Kingdom. A year later tins preference was increased to 25 per cent., and in 1900 it was again raised to 33£ per cent. It is true that since this came into force there has been a, considerable increase of British eiDortS to Canada (1896, £33,000,000; * 1901, £43.000,000), but the growth of United States exports has been at a much more rapid rate (1896, £59,000,000; 19Q1. £116,000,000). ' The reason for this is tha* the Canada tariff operates heavily against manufactured goods, and that the "preference" has not affected this in the least. Raw cotton from the United States goes in free, while cotton goods from England pay 25 per cent, to 35 per cent., less one-third, so that the United States, which have plenty of raw.materials to dispose of. is not to any real extent affected by the tariff. The curious thing 13 that French trade with Canada, which ought by rights to have suffered considerably from a preferential tariff for British, goods, has as a matter of fact risen from £2,782,000 to £5,500,000, in proportion a greater increase than is shown bv the British figures.