COMMERCIAL.

Feilding Star, Volume VII, Issue 1906, 24 October 1912, Page 4

COMMERCIAL.

NOTES FROM THE CITY.

1 PEE PBESB ASSOCIATION. Wellington, October 23. Mr Denison S. K. Miller, Governor of tlio Commonwealth Bank, will not appoint his staff generally until lie has visited all the States, and he will complete his itinerary next month after an inspection of Tasmania's needs and possibilities. Ho proposes to appoint men from Australian banks in timo for them to give their own employers ample notice. He hopes also to have arrangements in London so far advanced as to onable him to start there simultaneously with the commencement of operations in tho Commonwealth. The question of opening in New Zealand is to come later, but the Commonwealth Bank will probably be in full going order before Mr Miller will visit this country. Wool. —Wool is coming in very slowly to the local stores for the New Zealand series of wool sales, opening in Wellington on November 5. Shearing has, however, begun at Terawhiti and Porirua, but has hardly got a fair start elsewhere in the Wellington district. The wool, so far, is reported to be in light condition, and flock owners are naturally anxious to get the advantage they can from warmer and brighter weather. The catalogues all through the season for these sales are expected to be much heavier than in former years. The market for wool is highly favourable (saving European complications). The trade outlook of the Uiiited Kingdom is extremely bright at the moment, narciculai'ly in the iron and steel trades. Dairy Produce. —Judging by the quantity of space taken up for Vancouver direct from Auckland and from Wellington via San Francisco, trade with Canada is assuming large dimensions. From this port, according to space booked, 50,000 boxes should bo shipped for Western Canada, and from Auckland up to within 100,000 boxes. This certainly seems a great quantity for this new market to absorb, but if it is spread over the whole Dominion, and New Zealand butter reached Montreal last year, jio doubt a profitable sale for it is assured, especially as 12-J-d per lb f.o.b. has been paid for butter for Western Canada. The price is very high at the moment. There seems to be no doubt whatever that the London market for cheese is being manipulated. It has this week been reported by cable that one large London firm has offered New Zealand cheese, ex Turakina, at 62s per cwt. One of the largest New Zealand houses could have sold all the cheese made in New at 6 9-16 d per lb, equal to 71s per cwt. when on the market, if sent Home on consignment, but for this manipulation. Factory directors at this timej however, were disinclined to accept the above price, prefering to send Homo their cheese on consignment, and taking the risks of the market themselves. A large parcel of cheese, spread over shipments, has been sold this week to South Africa. Groceries.—New season's salmon is expected from Vancouver and Alaska by the next boate to leave San Francisco and Vancouver for Wellington and Auckland respectively. Prices for all American dried fruits by the October San Francisco steamer for Wellington are all easier. Very little Californiau canned fruit is now remaining in first hands. Calcutta lentils are slightly dearer, there having been an advance of os per ton for shipment by direct steamer in November. Local stocks of haricots are reported to be very short. Chinese ginger has again advanced id per lb during the week in sympathy with the rise in the price of exchange. Peanuts, in common with all Chinese goods via Hongkong, are very firm. There has been a slight decline in the prices of tapiocas. Pepper is also slightly easier, but nutmegs are firmly held. Singapore pine-apples have advanced 6d per case. Stocks of MilE dura fruits in Australia are reported to be well-nigh exhausted. The cabled report as to the favourable prospects of the European vintage should have a beneficial effect upon the price of cream of tartar, which has been exceedingly high for some time past. Coffee.—Business in the new Indian coffee crop has not yet begun, but it is understood that buyers in Europe are prepared to pay an equivalent of £3 per ton above last year's opening prices. Prospects of good prices for Indian coffees are expected to be now assured, especially for the Nillgerry and Salem assortments. It is thought, however, that owners will not be in a hurry to make sales, as the crops generally in the coming season are likely to be small. There is still a strong demand for all other, coffees in Europe. Hardware.—Welsh tin plates have I advanced Kd per cwt during the I week. American fencing wires have advanced 15s per ton for immediate delivery in Australia. German is unchanged. All private telegrams from London show that prices .for every •line of hardware are still upward, chieflvr on account of increased cost of raw material. Mills are well booked with orders, and deliveries are irregular. Hessians.—Quotations for hessians for the November direct steamer from Calcutta are this week fully 4s per j roll higher than three weeks ago. The cables state that the tendency of prices is upwards. Oils.—Seaton's English linseed oil has dropped IJd per gallon on the week. Other linseed oil declined Id per gallon. Castor oil for the steamer leaving Calcutta next month has advanced 3d per gallon on the week. Produce.—Flour remains unchanged at £8 10s per ton. Bran and pollard are nominally £4 10s and £6 per ton respectively, but business is being done on a lower basis. Oats are 2s 3£d to 2s 4d for B grade Gartons, with very little business passing. Potatoes have gone up to £9 per ton in consequence of the Australian demand. Above prices are all for free on board at .South Island ports. Prime oaten chaff is easier at £3 9s 6d to £4 f.o.b. Blenheim. Californian and Japanese onions are selling at 16s per cjvt. in Wellington. Fowl wheat is firm at 3s 8d to 3s 9d per bushel, sound whole sample, and .partridge peas 4s per bushel, f.o.b. Christchurch The United Farmers' Co-op. Assn., Ltd., reports local prices of produce as follows: —Oats. Duns 2s 10d per bushel, Algerians 3s |d, feed 2s 9d, Garton seed 3s, seed Sparrowbills 3s, black Tartarians 3s, Excelsiors 3s, Stormkings 3s 3d; oatensheaf chaff, £5 5s per ton; Cape barley seed, 4s 3d per bushel; whole fowl wheat, 4s 3d; linseed meal fodder, £13 5s per ton; bran. £6 ss; ricemeal, brown £6 ss, white £6 10s; fenuine ground £7 10s; pollard, £7; arley meal, £7 ss; maize, prime Gisborne, 5s 4d per bushel; Timaru, roller flour, £9 15s per ton, for sacks; potatoes, table Dates £10 per ton; cocksfoot, farmers' dressed 7d per lb, machine dressed 8d to Bid per lb; machined ryegrass, 4s Gd to 5s 6d per bushel; white clover, 120s and 140s per cwt; cowgrass. 955; Aleyke, 100s per cwt; Danthonia, Is lOd; dogstail, 10d per lb; horse beans, 4s 6d per bushel; feed partridge peas, 3s 10d; seed partridge peas, 4s 6d per bushel. Hemp.—The hemp market up to this morning was very firm. Prices offered to millers to-day are £2S 15s to £29 per ton for good-fair grade, but a line was bought yesterday at £29 2s 6d. High point-fair to-day is £28 to £28 ss, and low point £27 ss. All lines are difficult to obtain. Tow is £12 per ton for No. 1, and £11 10s for No. 2.