COMMERCIAL.

New Zealand Herald, Volume XXXI, Issue 9490, 20 April 1894, Page 4

COMMERCIAL.

New Zealand Herald Office, Thursday evening. During the past week there has been a slightly better feeling on the Stock Exchange, probably due to the cable that the Judge has sanctioned the re-construCtioii scheme of the Loan and Mercantile Company. Bank of New Zealand have been sold at 58s. Colonial Banks are wanted at 31s. New Zealand Insurance have been sold at 57s 6d, and could still be placed at this figure; holders are asking 595. There has been no demand for South British, and shares are offering at 355. Nationals have been sold at 16s '2d, which figure could probably still be obtained. Sales of Auckland Gas have been reported at £10 17b 6d, and Gisborne Gas up to 25s 9d. They are still in demand. Thames Gas are wanted at 22s ; sellers, 245. There is a steady inquiry for Union Mils at 12s, but holders are not prepared to accept this figure. There is little doing in mining. Waihis have been in demand, and several sales have been effected at low rates. Try Flukes have also been inquired for, and sales are reported up to 3s 4d, which is about their present market value. There have been inquiries for Portseas, but no business has been reported. Business during the week is reported slack. There is no distinguishing feature, and a perfunctory distribution is the rule with hardly any exception. Stocks are all very low, and the slightest extra demand means buying and selling at firm rates. There is close competition for the veriest scraps of profit, which is regarded as an unhealthy sign, either of over competition or poor demand. Our state of trade is, we notice, an exact reflection of every other colonial market, showing that the same causes are at work in all. Capital in Australasia and the credit that comes from it, never had such an innings as now iu mercantile trade, and it shows clearly that prudent management and general economy, as distinguished from anxiety to make sales, with trust in the future, is the very essence of the accumulation of capital, but buyers are naturally alive to the takingof every advantage, and it is a matter of surprise that in these times of very short stocks, there is the same tendency to cut prices as when stocks were, as a rule, very much heavier. In our Summary columns we have reviewed the month's trade. In the grain and produce trade there is a little move in potatoes, which are now firm at £3 5a ex store, with good quality hard to find. McGill'a oatmeal has been scarce. _ Bacon is almost unobtainable ; price is: no matter, as the article is mot to be had. Maize : Sales of indifferent quality have been made at 2s 4d, but prime is worth 2s 6d. The crop on the East Coast has been a splendid one. Oats: The market remains the same as last week's report. A firmer feeling is perhaps the only other indication, but this is not enough to alter quotations. Milling wheat: Another heavy arrival of very prime old wheat from the South. Farmers are now busy carting locally-grown into the Auckland mills. Some of the Euglish and Continental markets are firmer, but America is cheaper. Old Southern wheat is in better demand for mining purposes. New Southern is difficult to sell, although our own and Waikato new wheat is selling freely. Fowl wheat: There is a better demand. Bran is having fair sales. Sharps are very scarce. Flour: Fair sales and fair deliveries, but no change in price. In the local produce market the prices remain unchanged. Eggs are rather slow of sale on account of the high price at present charged, but only little more is coming to hand than is sufficient to meet the demand. Prices are as follow :—Best dairy fresh butter is 9d ; second quality, 6d ; and third quality, 5d per lb* wholesale. Eggs are Is 6d per dozen wholesale, and Is 9d 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 — Ordinary £24 Good ordinary £30 East Coast £50 to £52 Parcels of superior ordinary command a higher price according to quality and degree of cleaning. Supplies from the Ist inst. to date, 351 tons. The market still continues without activity. LONDON. Press Association.—Electric Telegraph.—Copyright. London, April 18. The quantity of wool that has arrived up to date is 404,000 bales. The list has closed for the next series. 88,000 bales were sent forward direct to the manufacturing districts since the last sales. 390,000 bales will be available at the coming auctions. The quantity of wheat and flour afloat for the United Kingdom is 3,530,000 quarters, for the Continent 1.264,000 quarters. Rates for money are declining, owing to plentiful supplies in the outside market. Three months'bills, 1J percent. London", April 19. A shipment of black ducks by the Cuzco is bringing Is [M each ; teal, 10a ; rabbits, Is to Is 2d, although few ol these are only realising 9d. AUCKLAND STOCK AND MINING ASSOCIATION. Buyers.— Zealand Insurance. 67s : National Insurance, 10s 3d; Gisborne Gag, 25* 3tl; nir.n Oil. 12s; New Alburnia, 2s 3d: Cambria, lud; llftzeltwnk, Is; May Queen, Is; New Moanataiari,, 2-4; Victoria, 3d ; Silverton, U<l ; W'aiki, 21s; Uracil Darling, 3:i 2d ; J'oi tsea, 7d ; Try Fluke, 3s 3d. Sellers.Bank of New Zealand, old, 6*Js; New Zealand Insurance, 09s; South British Insurance, 35s ; Auckland Has, old, £11, new, £5 10s ; Thames lias, 245; Northern .Steamship, 4s Id; Taupiri Coal, 14-) CtJ , New Zealand mug, 19s ; New Alburnia, 2m 4d; Cambria, is 2d; Hazeibank, Is 2d ; May Queen, Is 2d ; New Moaimtaiari, 2s tid • Norfolk, Is 2d ; Victoria, 5d ; Woodstock, 3s (id ; Portaea, lOd. M.imuel Vickers .lames livid J. Friar Claiko .R. G. Macky J. M. Lennox U. F. Hriuiblucombe D. B. McDonald James Prater Aitken Carrick S. Tiiorne George E. Spratt G. A. Buttle Francis Hull Charles Alexander B. Fratisr, Chairman. 4 p.m., Thursday, April 19, lsi)4. CALL AND DIVIDEND MKT. calls: £ *. rt. Date. Red Mercury G.M.Co. .. 0 0 6 ... May 10 Vermont U.M.Co. (A ami it .Shares) .. ..001.. May 9 Kapai-Vermont G.M. Co. (B Shares) 0 0 2 ~ May 9 dividends: Bank of Austra'aaia .. .. 7h % .. Now. South British Insurance Co. 10% p.a... Now. Union Oil, Soap, and Candle Co .. . .. .. 0 0 6,. April 23