TELEGRAPHIC COMMERCIAL.

Hawke's Bay Herald, Volume XXI, Issue 5273, 6 January 1879, Page 2

TELEGRAPHIC COMMERCIAL.

AUCKLAND, January 4. From various settlements news comes that the new harvesting machines are working well, giving every satisfaction to the owners of crops. Should the present highly favorable weather continue for a fortnight longer, the greater portion of the wheat in the Auckland district will be secured in- first-rate condition. The districts of Mangere and Otahuliu present just now a very encouraging spectacle. Owing to the wet and the late seed time, it is anticipated that the average yield of wheat will not be more than from 23 to 25 bushels per acre, or less than last season. The wheat 18 in many caaos reported too thin upon the ground, and owing to the hot weather, leading to premature ripening, it gives jbho grain in many instances a slightly shrivelled appearance. The opening price is 4s 6d for prime , qualities delivered at the nearest railway Bt'ation. This market at the present time is perfectly glutted with wheat and flour, and now that tho duty on foreign wheat and flour has been taken off, a corresponding reduction has been made by the local millers on the beet flour, which is now quoted at £13 per ton. The first of the crop is expectod to arrive at the mills on Tuesday or Wednesday next. Oats are rather easier in price, holders asking 4a 9d per bushel. Maize holds its own, both local and Fijian commanding 5s 3d in lines. Potatoes are gradually receding in value aB the Beaßon advances, and from £6 10a to £7 per ton ia a fair quotation for new. Butter in salt is not worth so much ; a prime lot is on i the market at lOd. Kauri gum continues to maintain a very firm attitude ; the receipts during the month have not been so great as anticipated, hence there is a strong disposition on' the part of buyers to operate, especially in parcels of good quality ; the total receipts in December were 245 tons; the receipts for the past year were larger than in 1877, the total quantity received in Auckland in 1877 being 3,390 tons, as against 3136 tons for 1877 ; the value of the article during the year just closed has been on the average, £30 for ordinary, and £37 for finest ; it is estimated that the average increased value is, with that of 1878, from £4> to £5 per ton upon ordinary, and £8 to £10 \ipon best sorts. CHRISTCHURCH, January 4, . Business in the grain market during the past week has nofc been particularly active. Barley and oats are now being cut in some districts, and in a very short time harvesting will be general. Lately we have had some fine rain, which has freshened up the wheat. Sales of wheat in quantity have been made at 3s lOd to 4b; the demand, though not great, takes up all that is offering ; the market is in that peculiar state when any alterations that are made are more than usually governed by actual order. Old oats being now comparatively light, and the crop near at hand, transactions have been necessarily from hand to mouth. For old oats we quote 3s lOd to 4s ; for now no sales have come under notice, but it is expected that 3s 6d will be tho price before the first lots are delivered. Flour remains about the same value, with quiet inquiry, £9 to £10, according to brand. Potatoes of new crop will be in more general delivery within tho next fortnight ; most of the lots in the market during the week have been from the North Island, for winch l|d to lid per pound have been got 5 Bales of sinnll parcels of Canterbury for delivery within the last few days have been at from £8 to £10 ; the yield this season, it is estimated, will be up to the average. I» grass seed the opening T«iu« of the new crop haa aofc yet been, deter

f mined, but present appearances confirm the general opinion entertained that prices -will open at not less than last year's rates, and although these wore admittedly high, growers think that an advance will be established ; tins view, however, is not generally held, as there is no doubt the dearness of seed this year will operate as it did last year, and curtail the area to bo sown, and further, buyers are indisposed to purchase to hold at extreme value. The samples of ryegrass that have been shown this year are good in color, but in two of the best the ergot was present to a large extent. Butter may be quoted a shade firmer, the improved value being attributed to the scarcity of grass ; it is quoted at 8d to SJd ; cheese, 6d ; hams and bacon, no change.