COMMERCIAL.

New Zealand Herald, Volume XXXIV, Issue 10412, 9 April 1897, Page 4

COMMERCIAL.

New Zealand Herald Office, Thursday evening. A FIRMER tone is manifested on the Stock Exchange. Some classes of investment stock have been in better request, and prices have improved. National Banks have sold It £118s 6(1, sellers ask £2, and buyers offer £1 18s 3d. New Zealand Insurance have been in request, and sales are reported from £3 7a Hd to £3 8s lid. Buyers now offer £3 8s 6d, and sellers ask £3 10s. Buyers are offering £2 10s for South British, sellers asking £2 12s. Nationals have sold at 18s 3d, and there are buyers at 18.?, with sellers at 18s 6d. There are sellers of Accidents at 18s. Auckland Gas, old JHSiio, have sold at £14 10s, and sellers ask £14 15s. For new issuo sellers ask £S 10s, buyers offering £8 6s. There are sellers of Thames Gas at £1 17s. Buyers of New Plymouth Gas offer £6 sa. For Uevonport Steam Ferry £1 12a is offered. Northern Steam arc offered at 6s 3d. Sellers of Hikurangi Coal ask 9s 6d. Taupiri Coal have told at £1 6s aud £i 5s 9<l, and there are buyers at the Utter figure. Westport Coal find buyers at £2 13s, Sellers of Ngungtiru Coal ask £1 & OS. River Plate are offered at 15s, buyers at 14a. Sellers of Union Oil ask 16s 3d, buyers offering 15s 6d. The mining market has shown a slightly improved tone, buyers being more numerous. All leading stocks remain at about last week's quotations. May Queens have sold at 8s 3d, and Victorias at 2s 6d. A strong inquiry for Waihi Extended, and prices advanced to 10d, but subsequently receded to 7Jd. Coromandel Freehold Proprietary, owing to receipt of favourable uews from London, advanced from 5d to 10d, closing with sellers at 9d, buyers offering od.' Bunker's Hill have sold at 2s 6d. Barrier stocks are a shade easier than last week. Ion&s sold from Is 4d to Is, closing with buyers at Is, sellers Iβ 3d. Aoteae Bold from 7sd to 6Jd. For late quotations we refer our readers to the stock and share list published in another port of this issue. Binine3s this week has been extremely flat in everything but produce. The import market is full of every description of gunds, with rare exceptions, such as bulk vinegar, coarse salt, eleme and sultana raisins, which arc all sought after. The fourth of ih« mouth has tried the financial positiou severely, and the renewals and partial assistance show that money is tight. Sales, however, keep up with fair strength, and there is little ■■.■mplaint on the score of volume, but in the wholesale division there is a general growl at t h> , prices that in the severity of trade compoutmn have to be accepted, Auckland is in nowise .-xuflDtional in this retpect, and we hear the same thing from every inter-colonial centre. Business hu of late years changed very much, and. ideas of quick realisation at marginal profits »re followed, which but a few years ago would be regarded as sheer lunacy. This refers only to leading lines, in which every distributor competes. Agents of marketable goods eujoy more advantage. Hotel business is reported as up to the average with no special points about it. Building keeps up a lot of employment, and the country work n good. Town contracts are slackening off. The timber mills and various city factories are all busy, and there is & full distribution of wage money, which percolates through the trading community. ShippiDg business is good. The mosquito fleet to the many coastal and river points continually draw upon . city stock, and although there is every appearance of sufficiency for many months ahead, shortages soon mysteriously turn up. The goldfield trade is tender, except in cases where substantial English capital is keeping up full employment. The expenditure on the upper oountry mines is large, and there are ample funds provided for its continuance for months in the many proved properties, yet it is evident that unless there is a largely increased yield the present pace is too v/arm to be kept going, and that some scores of the mines now being' prospected must shut down work. The call list is the heaviest ever known in Auckland, and it is universally admitted that it cannot be responded to. _ Goldfield storekeepers are restricting credit in their own and their creditors' interests, as under the no-liability system there is no security of funds. The export of timber from the Kaipara is on a large scale, and the value of it largely goes in supplies from this centre to bushmen and mill workers.

On the whole the trade position can scarcely be regarded as altogether satisfactory, but with caution and a prompt stoppage of unprofitable work; it may be quickly righted, aa the many industries established hero supply a weekly fund of wages, and investment money is very considerable. Iu the country districts farmers are all satisfied with the general outlook, aud improvement of property is going on in all directions. The demand from the goldfield and timber townships ii excellent. Above gives a fair description of how business matters stand, and we can only hope that with the three great factors of gold, gum, and timber, allied to the many other sources of provincial revenue not ueoeisary to specify, trade will be unstained, and oredit remain unimpaired. The future course of trade largely depends upon mineral development, and the London market for mines, meat, nild money. In produce there has been » spurt in oats, and we quote 2s 3d off wharf as the lowest price. Smith Is laud farmers are firm holders; local stocks are IhW. Maize: Arrivals during the week, 640 bags. The market is firm at 2a 8d off wharf. The uew maize is not likely to come forward before the early part of June. Cheese: Attention has been drawn to the very largt shipments recently sent to London from the South. London reports are, m a rule, highly complimentary on the quality of the New Zealand make. Potatoes: There are few Southerns obtainable at any price. Orders are only half and quarter filled to keep storekeepers going until next arrival. Any deficiency is made up by locals, aa better than nothiug. Sales of Southern have been made at £5. Large quantities of local wheat are coming into the AuokUnd mills. Owing to the stagnation in the Sydney market, and the decline in the English, the farmers are selling freely. There i» an advance of 5s per ton on both bran and sharps, and tbey are selling freely at the increased rates.

In the local produce market the prices remain unchanged as follows:—Beet dairy fresh butter is Sd, second quality 4d, and third quality 3d per Ib wholesale, Eggs remain at Is 3d per dozen wholesale, and h (id per dozen retail.

KAURI GUM MARKET. The following are the quotations for the kauri sum market for the week ending April 7, 1897:Poor ordinary, which comprises weak and rough-coated pieces, pickings, aud washed nuts, £25 to £27. Ordinary, mean-in? hard, rough-scraped gum, varying in price according to the quantity of washed nuts, £35 to £37. Good ordinary, meaning hard, unpicked range gum, price varying according to eize, scraping, and freedom from weak pieces, from £40 aud upwards. East Coast, £65 to £66. Re-scraped, £88 and. upwards. Supplies for seven days in April, 83 tons. A larger quantity than usual of Eut Coast gum has been coming in, and orders for this kind being small, the prioe hat again declined. Otherwise the market is unchanged, and the supply of ordinary continues very •mall. , • '