COMMERCIAL.

New Zealand Herald, Volume XXXIII, Issue 10084, 20 March 1896, Page 4

COMMERCIAL.

New Zealand Herald Office. Thursday evening. Ox the Stock Exchange the week opened well, with considerable volume of business, but owing to the holiday the market became quiet, and transactions were somewhat restricted. There is not much business reported in investment stocks, but on the whole prices are linn. There is an unsatisfied demand for good long-dated debenture stock. Money is plentiful, Mid good satisfactory investments scarce. The mining market has been fairly active, stock in the leading mines meeting with most public favour. Waihi, Waihi Silvertons, Queen of Waini, Waihi Extended, and Waihi Consols, have been inquired for. Karangahake : There have been heavy transactions in Woodstocks and Talismans. Thames : Victorias, Cardigans, Hazelbanks, New Wham, and Moaiiataiaris have all been in request, in the latter stock prices taking a sharp rise from 10s to lis .'id. Coromtwnlel: Sales have taken place in Bunker's Hill, Fotir-iti-Hand, Hauraki No. 2, and Pride of Tokatea. Kuaotunu : There lias been business in Kapai-Vermont, Midas, Aorere, and Kuaotunu. For late quotations, we refer our readers to the stock and share list pubished in another part of this issue. No one ever hears anythiug now about the fall in silver, bimetallism, or over-production, all of which subjects were prominent on the attention of the mmmercia Iworld but a little time ago. A new phase has eclipsed the old tears, and strength instead of weakness is the treneral report from all producing anil manufacturing centres, except perhaps in the one case of China.

It is very satisfactory for New Zealand that with the exception perhaps of llax all the great staples command good prices. The recent Home advance on wool musi add very largely to the income of the colony for this year, and it fortunately comes when the bulk of the New Zealand clip abort reaches the Loudon market.

It is not a little amusing to read the opinions about the state of the colony from the political Codlins ami Shorts, one description beiug as lamentable as the other is extravagant in attributing depression, or prosperity existing to cither the vices or virtues of the Government. The fact cannot be stated too clearly that no Government can control such things us market prices, failure or prolificuess of crops, seasons, or mineral discoveries, and it is nonsense to attribute a rising revenue to a state of prosperity brought about by causes quite outside of political control; but it is none the Itfss extremely important to the general welfare that sound finance, avoidance of crushing taxation, prudence in State expenditure and good laws, materially influence the commercial condition of any country. Such is a truism, but for all that when party feeling blinds both sides from perception of facts, it is perhaps desirable to make reference to the extreme discolourations that are authoritively made. The week has been devoid of any noteworthy trade incidents entitled to press reference, but we learn that the wholesale grocery merchants have agreed to conform strictly to the Sugar Company's terms and discounts, same to at once take effect. This is another evidence that the strain of over-competition and extreme bidding for business has been lessened under the general improvement in volume of trade that has recently set in. Holders of White Roje kerosene evince a disposition to advance rates under the knowledge of no further supply being immediately handy. The Richmond filled up with the usual assortment of merchandise and produce to the Islands, this trade showing steady improvement. The Nelson hop crop is advised as showing a serious shortage. An advance in price may be considered certain. The 6d per lb duty very effectively bars out all importations except the Bavarian used for bottling purposes. Owing to the French Government having very properly protected the pearl oyster beds at Tahiti and adjacent arcliipelaeo, from spoliation by ordering a close season, during which diving is prevented, the money return for black-edge pearlahell is for a time lost, and this is having a corresponding effect upon orders from Auckland and Sydney, the purchasing power being seriously reduced, ; while the natural increase and growth of the

I oyster developes. At the last London sales Tahiti black edge was in demand with none on offer. Fiji shell was much dearer. Wo have reviewed the month's trade in our summary columns. The trade in > produce has been quiet. Maize is quotablo at from 2s lid to as off wharf. The long continuance of dry weather is having a disastrous effect upon the East Coast new maize crop. A lot of it will not cob, and all the anticipations of heavy yields are doomed to disappointment. Owing to the scarcity of grass, a considerable quantity of green inaize has been cut to keep horses and cattle alive. In spite of all this the slackness of inquiry for the small quantity left of last season's crop is pronouueed and inexplicable. The consumption and for export used to average 4000 bags a month, while for the last four weeks only a little over 1000 bags have arrived, and the market is still dull. Oits continue dull, with no variation in price. Potatoes have been exceedingly scarce, and are worth £4 5s to ,C 4 10s ton cx store. The South Island growers do not quote freely, and show a disposition to hold for full prices, Milling wheat: Heavy arrivals at Auckland mills from local farmers and the south. The trade has ruled very flat this week, and millets, both North and South are fairly well supplied for the next few months' requirements. As yet there is very little sold for either N-w South Wales or Queensland. The English, Continental, and American markets are all dull and rather cheaper. Foul wheat: There is not much selling.

Bran and slmi ps are dull of sale. Flour is unchanged. In tho local produce markets tlio price of eggs has further advanced. Prices are now as follows :—Best dairy fresh butter, 8d ; second quality, Gd: and third quality, 5d per lb wholesale. Eggs are Is 3d per dozen wholesale, and Is 6d per dozen retail.

KAURI GUM MARKET. The following are the quotations for the kauri cum market for the week ending March 18,1896 Poor ordinary, which comprises weak and rough-coated pieces, pickings, and washed nuts, £30 to £34. Ordinary, meaning hard, rough-scraped gum, varying in price according to the quantity of washed nuts, ranges from £3Sto £44. Good ordinary, meaning hard, unpicked range gum, price varying according to size, scraping, and freedom from weak pieces, from £50 and upwards. East Coast, £74 to £75. Supplies for 18 days in March, 400 tons. The demand for superior qualities continues, but the market for poor sorts is still weak. With poor grades the market is overstocked.

8 1 TELEGRAPH.

RAM AND EWE FAIR.

Don ruin, March 19.—At the annual ram and ewe fair, under the auspices of the Agricultural and Pastoral Association, the entry was larger than usual, but the attendance of buyers smaller, At the commencement the sale proceeded briskly enough, but the buyers were soon satisfied, and when it became almost impossible to do business except at ruinous prices. Border Leicester ranged from jto 1/5 J guineas; Romneys, Jto G? guineas: Lincoln, flock, 1 to 24 guineas: Downs flock, Ito 4| guineas. On behalf of the trustees of the late A. C. Lang, an 8-tooth Roinnev fetched Sj* guineas ; a '2 tooth Border Leicester, 2 guineas ; three Border Leicesters from John Reid, Elderslie, up to 3| guineas. LONDON. Press Assoslation.—Electric Telegraph.-CopyrUht. London, March 18. The total quantity of wheat and flour afloat for the United Kingdom is 2,6s9,Booquarters, and for the Continent 890,000 quarters. The American visible .wheat supply is estimated at 9 , -MQO,(XW bushels. Silver is 2s 7i'd. WOOL. Press Association.—Electric Telegraph.—Copjrlctr. London, March 18. The third series of wool sales to open on April 2S will be limited to .'125,000 bales. The fourth sale of the series opens on June 30, and is limited to 935,000 bales, The fifth series opens on September 22, when an unlimited quantity will bo catalogued. Later. A medium selection of wool was offered today, but competition is still very active. AUCKLAND MINING AND STOCK. ASSOCIATION.

Businkss Done.—Hazelbank. 3-»6«l ; M«">anataiari, lis; New Wlnu, 9*l, ; Scandinavian, lojrt ; Victoria, 3s ll«l;(JoMen l ink, la; Kapai Vermont, is ; Midas, Is 9d, 1* 10tl : Central, Is 3d, Is ill; Grace Dutline, 1< Si; Uolden Fleece, 0.^1; Imperial, Is yd • Queen of Wallii, 2* 9*l, iud '2» Mil: St. Patrick. 7jil • Talisman, «< o<l, Ids fid, 10s art ; Victor, Is; Waihi Kitemle.l, OJil; W.iilii Consols, Is Gil; Waitekauri No. •>, 8:1; /ion, fid ; lleitman Freehold, Ids; Kini! of Waihi, 7d ; . Four in-Hand, Is 4d, Is nil ; I'ukewhau, lljd ; Pride of Tokatea, Is 2d to Is sd.

Buyers. - National Insurance, 17a; New Zealand ami River Plate, 7s 3d; Auckland Has, old £1-2 Os, new £« 1?.1 C.I ; Thames Gas, 33s ; Devonport team Kerry, 2Ss; Northern Steamship, us; ilikurangl Coal. &s; Taupiri Coal, IDs; Westpurt Coal, 4ls (Id; Albumin East, Id ; Cambria, Is Id; City of Dunedin, Is fid; Cardigan, Is (Id; Chines, 6d ; Freedom, 3d ; (.'olden Point, Is Id ; Hazell>anlc, 3s Cd ; May Queen, 7s; New Alhurnia, Is fid; Moanataiari, IDs; New Whan, Gjd ; Scandinavian lid ; Victoria. lis lid ; May Queen Extended, 4,1. AOl ere, Is 3d ; Golden Link, 9>l ; Inricta, 3d ; Jupiter. 3s 3d; Kapai-Vermont, Us IO.I: Kuaotunu. Is Id ; Maori Dream, Is 6d ; Maoriliind, lid; Midas, Is (id ; Wailaia, 3s ; .luno, 4d ; Central, Is Id; (i:Ri-e Dailing, Is Gel; Golden Flt-cce, (id ; Iliiauui, Is 3d; Imperial, Is 5d ; Nil liesperanduni, .'id; New inder, 4Jd ; P.irhea, C.d; Purlri, id ; (Jueen of Wailli. .'s 8.1; St. Patrick, GJ.I; Stanley 3d ; Talisman, H's ; Talisman Extended, Is fid; Victor, 3s 9d; Wailii-Silverton, 70s ; Wallli Extended, Gjd ; Wailli Consols, Is ad ; \Ve»ltli of .Nations, id; Waitekauri No. 2, 71; Youti|{ Now Zealand, Is Id ; Hercules, (id; Ileilman Freehold, Sd ; King uf Wailli, 5d ; Jewel, .>d ; Hunker's Hill, (Is 3d; Cornmandel Freehold Proprietary, Is (id ; Kour-in-lland. Is 3d; Golden Lead, 7d ; Hauraki No. 2, Is id; ll.irl.onr View, 4J.1 ; New Ool'-on.li, is 3!; Ne* Tokatea, is id ; I'ukewhaii, Gil; Pride of TuKaiea, I■4d ; Welcome Find, 2s S'l ; Wynvanlton, (id ; Byron Bay, is SKI.LKILS. - National 'lank, 3'Js ; New Zealand Insurance, (ids; National Insurance, 13s ; New Zetland Accident InMir&n-e, 17s (id; .Standard Insurance, 10s 3d ; South British Insurance, ,'is; Auckland Gas, new i'G lis Gil ; Cisboriic Gas, 335; Northern . v teainshio, its 3d; Hikurangi Coal, 9s; Northern Hoot, f,a Cd ; Adelaide, "d ; Albumin Mast, 5d ; Broken Hill, Is ; Cambria, Is fid ; City of Dunedin, 2s ; Cardigan, Is id ; dunes, Gjd ; Corns Gd ; Freedom, (id ; Golden Point, is 3d; Ilazelbank, 3s Od; May Queen, 8s; Moanatairi North, 9d; Monuwai, i.slkl: New AlbnrnU, ss; Moanataiari, 10a 9d; Norfolk, 4s; Now Whau, Sd; Orlando, 10.1; Occidental, Cd ; Puru Consolidated, Is Od; Royal, Is Cd ; Scandinafiau, lid; Sheridan, 9<l; T.ipu Fluke, 9d; Victoria, 4s; May Queen Extended, (id; Aorere, Is 4d ; >\uroia, 3d; Balfour, Gjd , Great United, (Id ; Golden Anchor, Is 2d ; Golden Link, Is; Gladys, 7d; Invicta, 6d ; Inticta North, 4(1; Jupiter, ,'is 9d ; ICapai Vermont, 7s 3d ; Knaotiinii, Is (id ; Maori Dream, Is Bd. Maorlland, yd; .Midas, Is ltd; Phoenix, 4.1; Try Fluke, 7s; Waitaia. ?s 9ii ; Juno, Od; Monarch of All, 8d; Alpha, is; Asteroid, id; Byron Bay, Is 3d; Central, Is 3d; Crown, ' 7s- Chelt, fid; Day Dawn, 8d; Excelsior, fid; Grace Darling, Is 3d; Golden Fleece, Ujd; Huatiul, Is Sd; Imperial, Is Sd ; Inglewood, Cd ; Iv inlioe, lOd; M .liner, id ; Nil Desperandum, 7Jd; New Zealander, (Ijd ; Owharoa, 3s 3d; Oceania, Is 2d ; Opliir, 4.1 ; Portsea, 9d ; Puriri, fld ; Queer, of Wailli, 'is lid ; South British, 4}il; St. Patrick, 7}(l ; Stanley, Gd ; Sterlinp. 4d ; 'talisman, Ills 3d ; Talimimi Extended, Is Til; Teutonic, 8(1; Victor, 4s 3d; Waihi-Siltert'in, 7l's ; Wiilti Extended, 7Jd; Wailil Proprietary, Is 2d; Waihi Consols, Is Gd ; Waild Monument, Oil; Waltekaurl, 'J6s; Ward Proprietary, 9d ; IVaverley, Is; Woodstock, 255; Wealth of Nations, Gd ; Waitekauri No. 4, 'is Id ; Waitekauri South, 6.1; Waltekanri No. 2, llMi; Young New Zealand, is 3d; /.ion, (Id; Hercules, 10(1; Heitinan's Freehold, Is 3d ; King of Wailii, Gjd; Sovereign, "•«; Waihi Dredging, (id ; Bunker's Hill, 7s 3d ; Britannia, is ; Conquering Hero, 7d; Coromaudel Freehold Proprietary, Is 8d; Empress, 2d; Four-in-liand, Is Od; Golden Hill, 4(1; Golden Hill Extended, 4d ; Golden Lead, is; Golden Tokatea, Is 3d ; Great Kapanga, Gd; Hauraki No. 2, Is 3d ; Hauraki South, Is; Ilauraki North (paid up), 2s Gd; Hauraki North (contributing), 2s 3d; Harbour View, 7d ; Napier, is ; New Golconda, Is 6(1; New Tokatea, Is 3d ; Pigmy, 8d ; Pukewhau, 7d; Pro. eress-Castlo liock, lid; Pride of Tokatea, Is Gd; Welcome Kind, 3s; Wynyardton, Is 3d; Zealandia, Oil; Jewel, 10d, J. Friar Clarke Phil B. Morris It. Frater 11. S Ruddock I). B. McDonald D. McLcod Aitken Oarrick M. T. N. Bluck Francis Hull Duncan B. Clerk James Iteid N. I. M irkhaiu K. G. Murky W. A. Ryan 0. F. Urimhlecorabe J. T Armitag# James Fr.itor iV A. Priine G. A. Buttle V. J. l.arnor Charles Alexander L. A, Levy John Mowbray 11. S. Feimick J. M. Lennox, Chairman. 4 p.m., Thursday, March 20,18»n.