COMMERCIAL.

New Zealand Herald, Volume XXX, Issue 9366, 24 November 1893, Page 4

COMMERCIAL.

New Zealand Herald Office. Thursday evening. During the past week there has been little business doing on the Stock Exchange. There are numerous sellers of Bank of New Zealand, but it is difficult to obtain a buying quotation. Nationals are wanted at 20s, and Colonials at 335. New Zealand Insurance have been sold at 633 6d, and are now in demand at 625: holders require &4s. South British have been sold at 355. Auckland Gas have exchanged hands up to £1014s 9d, and are now wanted at £1012s 6d. New Zealand Shipping have been sold at 50s, ex div., and Devonport Ferry are inquired for at 325. In miuing Alburnia's remain at last quotations. Numerous sales have been effected in May Queen's at 2s, which is their present market value. Hazelbanks are steady in demand at 2a sd. Numerous transactions have been reported up to 2s Bd. Norfolks are considerably easier, and can be obtained at lOd. There is little doing in other mining stocks. There are no new facts or other circumstances of interest on which to base a report. Various causes are assigned for the exceptional trade dulness that prevails, these causes being more or less known. The strong price for potatoes is one of the leading items for general remark. Many traders are giving much attention to election matter', and this is perhaps one of the disturbing c. -'sea of the week. After the battle is over the situation may be clearer, but the hazy state of the general trade atmosphere prevents any disposition to incur responsibilities except those that are for the moment absolutely necessary. In the import market fine salt is more than scarce. In many places it cannot be pro cured, and the thin" has been cut so fine that any mishap to the Lake Erie, now overdue from Sharpness, would mean a serious position in this article of necessity. New elemes are offering exceptionally early this season. Currants are extremely weak, many holders of old fruit not caring very much about limits in reason if buyers will stock up at nearly their own price, but buyers mostly want new fruit, especially when it is offering so exceptionally low. The ordinary list of requirements is without change, and sales are mostly in small lots. Whiting remains scarce, with improved demand. Much of the second quality dairy butter is being shipped to London per Coptic. Under some recent regulation or law it is essential that no butter can be offered in foreign places as New Zealand factory that is not so made. This is a proper safeguard to the reputation of the colony's make, and we are glad to hear that the shippers of second quality are anxious not to let their lots be in anyway injurious to the character of New Zealand butter of distinctly factory make. In the dead of winter in Europe it is supposed there will be a market for even indifferent quality, and under the conditions of cool chamber space, it is some relief to holders to get any chance of realising. Produce generally is dull, with exception of potatoes, which are at all prices, according to quality, but all extremely high. Old potatoes are now out of the market. Maize: There is not much doing, with 2s 7d the quotation off wharf. Oats : The price off wharf is 2s 4d to 2s sd. Limited business. The abundance of green fodder and rich grass is making less demand for horse feed. Milling wheat: Very little has arrived this week. Although we have been rushed with visitors from all parts of the North Island to our "Grand Agricultural Carnival," transactions in wheat are virtually at a standstill. _ We fancy one of the chief reasons is the keen interest everybody is now taking in the approaching general election ; another is, that speculation ih wheat is greatly hampered by the present tightness of the money market, and the prevailing uncertainty as to the policy of our financial institutions in the near future. Crushed wheat: There is more selling. Fowl wheat is in rather better inquiry. Bran and sharps : Heavy arrivals from the South have caused a glut in the market. In the flour market there are no changes to report. In the local produce market eggs have advanced in price during the week, owing to the export to the South which has now begun. The prices are as follow:—Best dairy fresh butter is 6d; second quality, sd; and third quality, 4d per lb wholesale. Eggs are now 8d per dozen wholesale, and lOd per dozen retail. KAURI GUM MARKET. The following is the report of the gum market and ruling quotations, as furnished to us by the committee of gum merchants :— Poor ordinary £27 to £28 Ordinary £34 Good ordinary £38 East Coast £52 Parcels of superior ordinary command higher prices according to quality and degree of cleaning. Supplies from the Ist of November to date, 506 tons. The market shows a little more activity at present prices. ■