COMMERCIAL.

New Zealand Herald, Volume XXXII, Issue 9774, 22 March 1895, Page 4

COMMERCIAL.

—,— ~.. New Zealand Herald Office, Thursday eve oing. Ok the Stock Exchange daring the past week, a moderate Amount of business has been transacted. Bank stock remain at about last week's quotations. There have been sales of Nationals at £1, and there are sellers at that price, with buyers at 19s. Insurance stock continue fairly firm. New Zealands are offered at £3 lis. South British have been sold at £2 10s, and there are sellers at that figure with buyers at £2 9s (id. There hare been Bales of Nationals at 19s, and buyers offer that price. Buyers of Standards offer 178 9d. Accident Insurance find buyers at 13s 3d. Sales of Auckland Gas are reported £11 12s 6d for old issue, and £5 16s for new issue, and there are now sellers of old at £1115s, and buyers ot new at £5 15s. Buyers of Thames Gas offer £1 ss. Union Oil find buyers at 13s 6d, sellers asking 14s 6d. There are buyers of Land Mortgage at 5s 3d. Buyers of Northern Steam are offering 4s 4d, but there are no declared sellers. There has been a fair business done in mining stocks. Silvertons have sold from 15s 6d to 14s, the market closing with sellers at 15s. There have been sales of Woodstocks from 161 6<i to 18s ; and there are sellers at 18s A good business has been done in Talismans, and numerous sales are reported at from 7s 2d to7s9d to 7s 6d, the market closing with sellers at 7s 7d ; buyers 7s 4d. New Bonanzas have sold at Is 4d, and there are now sellers at Is 4d. Numerous sales are reported in Imperials from Is 5d to Is 3d, market closing with sellers at Is 3d, buyers Is Id. A brisk business is reported in (Jniteds, at from 8d to IOJd to 9d, and there are sellers at 9<l. There are sellers of Golden Cross at M 12s. Alphas have sold at Is 2d, and there are buyers at Is. Several sales, are reported in Grace Darlings at from 4d to 6d ; sellers, 7d. In Thames proper there have been sales of Alburnias at 3s 3d, and there are now sellers at 3s 4d. Sales of Hazelbanks are reported from lu to Is 2d to Is. May Queens have sold at 4s 3d to 4s Id to 4s 2d, and sellers ask 4s 6d. Moanaraiaris have sold at 4s. There have been sales of Monowuis (Waiomo) from 5s 3d to 5s 6d to 5s 3d, and there are buyers at ss. There have been sales of Broken Hills at 3id and 4<l, and there are buyers at 3d. There are sellers of KapaiVermont at Is 9d. A state of trade slackness prevails in most divisions. The exceptions are grans seed, fertilisers, building material, and fencing wire, while there is a good deal more nibbling in kerosene. Otherwise mercantile matters are devoid of interest, and while controversalists may argue about why everything with rare exceptions is on the falling side, holders naturally reckon the risk of depreciation in market value, so that there is little spirit recognizable, and traders are beginning to anxiously enquire what is to be the solution of the existing unsatisfactory state of affairs. All consumptive goods continue to hold enquiry by reason of nature, but it is not a bright state of trade to find that expenditure is narrowly kept to absolute essentials, and although faith is very strong about the Upper Thames, proving a real mine of wealth, dividends so far are in the beautiful distance of futurity, while in the meantime activity and prosperity is a thing more to be hoped for than realised. Referring to the stringency for gold exist ing in the United States, and which has been met by temporary expedients, the Export World of New York, dated the 28th January, makes the following pertinent remarks :— "There is a feeling that the various discordant elements in the Congress may, in the face of the financial emergency, join in some action which will extricate the Government from its present unpleasant position. Meantime these conditions and the comparatively small exportation of products are resulting in a very high rate of exchange, and there is a possibility that a premium on gold will exist within a short time. Such premium, while undoubtedly injurious and likely to be disastrous to the country, would serve as a cheapening of cost to foreign buyers of American merchandise, and in this way stimulate exports. The United States is a country ot enormous resources and great wealth, but in spite of this to-day presents the astounding spectacle that the richest country in the world is unable to guarantee that it shall continue to meet all its obligations in the international money metal of the world."

' Since the above appeared it has become known that in view of the possibility of a high premium for gold many are now paying 1£ per cent, for only the privilege of calling for gold at par within six months, and there

, I are all the indications of a gamble between the bulls and the bears. ' An important advance has been established in rice from cables received to-day from Japan. .' '•' A review of the month's trade, as a whole, appears in our Summary columns, ; Potatoes are 6a per ton easier than last week. '.■' V'' Oats lire perhaps a point stronger locally. Speculation has been induced at , the low prices recently quoted South, and large for ward business has been fixed, with the result that holders are less eager to contract. , Maize has sold freely off wharf at Is lid for lots, and 2s fer small parcels. Milling wheat; Farmers are hard at work delivering into the Auckland mills. We are glad to hear that besides being good quality wheat has threshed out well, and many are now sorry they planted so little. In the South* where also less was sown 4 the extra yield per acre will : more than make tip the quantity required for t our own wants. The low prices still prevailing in England and Europe offer no encouragement whatever for consignments. Fowl wheat: There it more inquiry. Bran is dull of sale. Sharps are scarce, and 5s per ton dearer. In the local produce market prices remain unchanged, as follow : Best dairy fresh butter is 6d, second quality sd, and third quality 4d per lb wholesale. Eggs remain at Is per dozen wholesale, aud Is 3d per dozen retail. Messrs. Baker Bros, report the sale to Mr. Phipps of lots 5 and 6 (100 feet by 146 feet), with residence thereon, Flagstaff and Owens Roads, Devonport, for the slim of £345. KAURI GUM. The following is the report of the gum market and ruling quotations, as furnished to ns by the committee of gum merchants .— Poor Ordinary, which comprises weak and rough-coated pieces, pickings, and washed nuts, £28 to £& Ordinary, meaning hard .rough - scraped gum, varying In price according to the quantity of washed nuts, ranges front £35 to £40. Superior ordinary, meaning hard, Unpicked range glim, price varying according to sise, scraping, And freedom from weak pieces, from £45 ana upwards. East Coast, £68 to £70. Supplies from the Ist instant to date, 421 tons. An active demand still Continues for superior ordinary and East Coast. COPRA. Writing on February 8 our London correspondent says:—For copra the market is greatly depressed owing to the large stocks in hand, The Baltic is Closed by ice aud cargoes arriving cannot be held. 4 Very low prices haVe to be accepted to quit. There have also been some heavy mercantile failures in France, and these have caused much stock to be thrown oh the market at low prices. i