COMMERCIAL.

New Zealand Herald, Volume XXXI, Issue 9496, 27 April 1894, Page 4

COMMERCIAL.

New Zealand Herald Office, Thursday evening. During the past week business on the Stock Exchange has shown no signs of improvement, in fact, the market has a slight downward tendency. Bank ot New Zealands are being offered at 56s 6d, and Colonial Banks at 31s 6d. New Zealand Insurance have been sold at 57s 6*l ; buyers are offering 575. South British have changed hands at 34s ; sellers at; 34s 6d. Nationals have been done at 16;J 6d. Auckland Gas remain at last quotations, sales at £10 17s 6d ; sellers, £11. Gisborne Gas are wanted at 25s 6d. In mining most shares are lower in value. Alburnias are offf riug at 2s 3d, and May Queens at Is Id. Sales of the latter have been reported at lid. There has been a strong demand for Waihi's, and numerous sales have been effected up to 23s Gd. There is little doing in other mining stocks. The use of mining phrases in commercial vernacular is giving new. meanings to language. One of the ablest commercial men iu the colony was told by his banker that " we hadn't touched bedrock yet." This is, we understand, a Yankee mining expression applicable to the bottom level ol possibility. The telephone often brings such messages as "quote me bedrock price," or "That last invoice did not 'pan out'well." To "strike it," is an old phrase, to mean that good luck has been touched. We fear that the uncertainty that belongs to commercial business is getting every day closer to the well kuown uncertainty of mining, for the ablest judges of market movements rind themselves completely out of it by some outside circumstance that by no estimate of reasonable chance could have entered into calculations. The week is fortunately without any more fiuancial developments, but the tone of trade keeps low, and business, except in absolute necessities, drags. The arrival of the Tongariro has livened deliveries ex ship. Everything is now necessarily so pared down that fully one-third of the business of the port is in to arrive lota ex ship. Steam freights have brought about this system of buying. The certainty bar accidents, of a delivery within a week or 10 davs margin, regulates buying, but at the same'time cuts seriously against local distributors, as the tendency of trade is increasing direct from the mill, manufacturer, or London House to the retail traders. This isi under the severity of competition at home,, which seems for the colonial trade to be just as fierce as in the small matter of the colonial local business. Attention has been drawn by recent prosecutions under the Dairy Industry Act to some faults in it which should be remedied next session. Under its provisions no small farmer, however good his production, can export without first registering a trade mark at a cost of two guineas. Nor can any merchant handle butter on account of producers without shipping under some registered trade mark, which would be obviously useless as a guide to quality when the merchant may ship the produce of twenty separate dairies. We give every credit for the good intentions exhibited in the Act to preserve the character of the New Zealand production, but no small dairy farmer should have the door of a foreign market closed to him by needless aud unworkable restrictions. , . , Judging from a prospectus of the Graziers Meat, Export Company of New South Wales, there is a splendid future for the meat trade of Australasia. We give a conple of points in the argument in regard totraae expansion, viz. : _" That if but 5 per cent, of the population of the United Kingdom become increased meat consumers to the extent of only one pound per week each, we should barely be able to supply their requirements. That if the Continental armies would take the article, and it can be supplied at far less than it can be produced on the Continent, the whole resources of Austral? would be taxed to supply these armies aloni." To this, while the points are striking, we can only say with Shakespeare that "There is much virtue in an if." At any rate, it is clear that the future of this great trade is particularly bright, and the example of New Zealand seems to have stimulated competition in every stock-producing country. The mail advices received to-day show much disorganisation in the sailing dates of steamers, through the falling off of demand for tonnage. Yet at the same time steamers must bo iu New Zealand ports at. certain months to supply frozen aud cool ohamher space contracts. The result must inevitably be that inward freight rates will advance, as only a three parts cargo cannot be carried at the same rate as a lull one, and the demand for lower home freight rates from the colony under the shrinkage of values will have to be in Rome way met, if the volume of freight business is to be maintained. The expenses of an ocean steamer are enormous, and charterers risk heavily in the uncertainty of events beyond their control. A bad harvest means less ability to find shipping quality, a lower turn of the market spoils margins, while a higher turn increases demand for apace. San Francisco advices refer to a. severe frost in the Eastern States, so severe as to kill thousands of fruit trees. There is a reported stiffness in all Californian fruits in consequence, but somehow trade frosts and trade short catches, or other things, are, we fear, manufactured just as easily as clothes' pegs, and while a passing bit of credulity may be " had " by these reports, the colonial buyers are not to be worked up to any practical point. English split peas are scarce, with the winter demand commencing. First-class honey is in request cither in bulk or tius. The tinplate market keeps abnormally low, due largely to the prostration of the American trade. Pig iron is scarce in the South, and local stockß are low. The Nelson nop crop this season has been a remarkably good one. Large contracts have been fixed, somewhat in favour of buyers compared to previous year's prices. In the oat market the firmness is most decided. Under the character of the latest telegraphic advices, the market should make a penny rise, but it is clogged by contracts fixed when prices ruled very low, and until these contracts are worked off, or until there is a further advance, quotations must remain for the present as they are. McGill's oatmeal has been and is very scarce. This is the crack brand of the market. The value of a good name is wonderful, and once established, it wil. command support in anything while consistent quality is kept up.

Maize is worth 2s 4d in , parcels off wharf. A little lot of the new crop has arrived, and it is remarkable for high quality. If it represents fairly the general quality of the crop, our East Coast friends have been fortunate. s Potatoes: Best quality rather scarce. We quote from £3 to £3 10s. There is fully this range in price for various samples. Southern Hobarts are just coming forward, and in another fortnight the local will have to meet the South Island competition. Dairy oheese is more plentiful. Onions continue to advance, the price ranging from £10 to £12 per ton. Milling wheat: Farmers are still busy carting their wheat into the Auckland milk Our own and Southern markets continue quiet. Old Southern wheat is selling freely to millers for mixing purposes, and it fully maintains its value. The latest cablegrams indicate no improvement in European markets. ... Fowl wheat: There is a fair inquiry. Bran and sharps are dull of sale. Flour: Heavy arrivals have meantime checked sales of local flour. In the local produce market prices remain unchanged, though there are not wa,nting indications that changes are impending. Prices at present are : Best dairy fresh butter, 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 Parcels of superior ordinary command higher prices, according to quality and degree of cleaning. Supplies from the Ist inst. to date, 491 tous. Supplies are exceeding the demand, and the prices remain nominal. LONDON. Press Association.— Telegraph.—Copyright. London, April 25. The quantity of wheat and flour afloat for the United Kingdom is 3,600,000 quarters, and for the Continent 1,332,000 quarters. Shaw-Savill Company's shares, £6 10s. London Commercial Notes from our own correspondent will be found in page 3. AMERICAN. San Francisco, April 5. Flour : Family extras, 3 dollars 25 cents to 3 dollars 50 cents ; bakers' extras, 3 dollars 15 cents to 3 dollars 20 cents. Wheat: Business light. No. 1, 92J cents; choice, 932 to 95 cents per cental. Barley: 87$ to 95 cents per cental, for brewing. Hops : Quoted at 14 to 16 cents per lb. Tin : Sydney pig, 21 to 22 cents per lb. Quicksilver : Nominal, at 34 dollars per flask. Freights : No wheat charters for Europe reported for a mouth up to date. Rates are nominal, at 26s 6d. Shippers will soon have to take vessels, or exports will come to an end. There are now only thirteen ships in the engaged fleet, and nine or ten of these are loading. Coal : Wallsend, 6 dollars 50 cents per ton for average, and 7 dollars 50 cents for clean ; Greta, nominal. New Yokk, April 4. Petroleum steady. Pennsylvania oil, sales none. April option, sales none, closed S2| cents bid. Lima oil, sales none.

Business Done.—Walhi, °3». Kuyeiis.—Now Zealand Insurance, 675; National Insurance, 16* ; Gisborne Gas, 2fia (id ; New Moanatalari, 2s; Norfolk, Oil; Waihl,2ls; Woodstock, Bs. Nf.m.urs.— Bank of New Zealand, old, fifls 6d ; Colonial Hank, 3 If. Cd ; New Zealand Insurance, BS» 6d ; National Insurance, Ilia (Jd ; South British Insurance, 34s Cd ; Auckland Gas, old, £11, new, £5 10a; Thunes Gas, 245; New Allmrnia, 2« Id; Cambria, Is 2d; May Queen, Is Id ; Now Moanatalari, 2s 6d; Norfolk, Is ; Crow', IBs ; Walhi, 23s ; Woodstock, 3s Od; Grace Darling, 3s 2d ; I'ortHaa, lOd ; Try Fluke, 3« sd. Hamue! Vickers James Keid J. Friar Clai ke H. O. Mack? J. M. Lennox G. F. liriiublecombe 1). 11. McDonald James Prater Aitken Carrick S. Thome George It. Spratt G. A. Buttle Francis Hull Cliarle* Alexander R. Fratkr, Chairman. 4 p.m., Thursday, April 20, 1894.

AUCKLAND STOCK AND MINING ASSOCIATION. No. of £ Paid 77" Company. Shares 3 up per a~tr. Date. Issued 3 _ Share. Sa ""- Banks £ & s. d. £ *. ii.i N.Z., old .. 100, 51 5 5 0 3 0 0 Mar.21 „ new .. 60,000 71 7 10 0 4 17 OjFeb.8 National ..100,000 7j 2 10 0 1 5 0 Fob. 1 Colonial ... 200,000 5 2 0 0 1 11 3 Apr.tj Insurance — 1 New Zealand 100,000 10 2 0 0 2 17 ClApr. 34 National ..190,115 10 0 10 0 0 16 6 Apr. 24 South British 04,628 19 1 0 0 1 14 0 Apr. 25 Standard ..100,000 10 0 15 0 0 10 8 Feb. 27 N.Z. Accident 20,000 1 0 6 0 — — Loan— N.Z. L. AM .. 100,000 25 2 10 C — — Nat'n'l M.A A. 100,000 10 1 (I 0 — — N.Z. A It.P. .. 200,000 10 2 0 ( — — Gas— Auckland, old 16,500 5 5 0 010 17 0 Apr. 24 „ new .. 13,748 5 2 10 0 5 7 6 Apr. 6 Thames .. 9,932 24 1 13 0 — | — Glsborne .. 12,000 1 1 0 0 1 5 9 Apr. 18 Timber— Kauri Timber 130,000 2 2 0 n — — „ lie" 150,0U) 2 , 12 0 — Shipping— Union S.S. .. 59,62 ) 10 Ml On — — N.Z. Shipping 69,089 8 8 0 0 — — DetonportS. F. 10,000 110 1' — — Coroiuandul 8. 3,037 110 0 — — Northern S.S. 12,495 14/0 0 14 0 — — „ lie* 104,289 14/0 0 7 0 — — Coal— Mikurangi .. 30,000 J 0 6 l — — l'aupiri .. 24,W i o 10 ( — TaupiriRes'rre :{,u. • * 0 jo 0 — — „ new 10,210 jo 3 0 Wostpoit Coal 09,3 4} 3 0 0 — — Miscellank'iis N.Z. Drug .. 70,991 2 40/ it'?"/ 1 0 0 Feb. 14 Auckl'ud Fibre 18,915 110 0 — — Northern Boot 12,022 1 0 13 0 — — Union Oil .. 30,850 1 0 14 0 — — Thai land A Co. 50,000 1 0 12 6 — — Colonial Sugar 79,373 20 20 0 0 — — , „ 2,490 20 10 0 0 — — aor.i>KiEi.i>s— Thames. New Alburnia 60,000 4 0 1 9 0 2 4 Apr. 20 Calliope .. 60,000 J 0 0 7 — — Cambria .. 44,700 1 0 5 9 0 1 0 Apr. 18 North Star .. 45,000 1-5 0 1 7 — — N. FearimiiKht 50,000 J 0 1 0 — — Hazel bank .. 42,000 J 0 2 3 0 1 0 Apr. 24 St. Hippo, N.I.. 05,000 1-5 0 1 3!— — City Dunedin 50,00o 4 6,8} — — Junction .. 30,000 } 0 0 11 — — Lone Hand .. 50,000 J 0 1 0 — — Magnolia .. 50,000 1 0 3 2 — — May Queen .. 79,000 4 0 1 2 0 0 11 Apr. 25 N. Moanatai.tr! 50,009 4 0 5 0 0 2 3 ! Mar.29 Norfolk . 50,000 1 0 7 0 0 1 1 Mar. 19 Occidental .. 53,700 J 0 0 lj — — Orlando .. 40,00') 4 0 1 5! 0 0 7 Mar. 12 Pride Karnka 50,000 J 0 2 4! — Victoria, N.I, .. 120, i 0 1 11 0 0 4 Mar.20 Walotahi . 0,000 3 2 10 0 — — Upper Thanni. Crown .. SO,00!) 1 1 0 0 0 17 0 Feb. 13 aiUerton .. 40,000 ( 0 2 0 0 0 3 Apr. 2 W.iihi .. .. 150,000 1 10 0 13 Apr. 26 Woodstock .. 55.u;h) (040 0 8 6 Apr. 10 Golden Cross., 24,010 1 1 0 0 — — Grace Darling 00,009 & 0 fi 0> 0 4 0 Mar.13 Povtsea .. 50,000 J 0 2 0 — — Plthipuhi. Proap'torsNo. 1 53,300 J 0 7 ? — — Euaotunu, Great Mercury 00,000 J 0 7 3 — — Mariposa .. 50,000 J 0 1 9 — — Otawa .. 40,000 4 0 0 3 — — Red Mercury.. 30,000 1 0 3 9 — — Try Fluke .. 60,000 j 0 0 0,0 3 4 Apr. 18