COMMERCIAL.

New Zealand Herald, Volume XXXV, Issue 10752, 13 May 1898, Page 4 (Supplement)

COMMERCIAL.

New Zealand Herald Office,' i. Thursday evening. ' Business in town since our last report lias continued quiet, and with the winter close at hand, tliero appears to he no prospects of an immediate improvement. . ■ii l &

In spilo of the depression, however, it is satisfactory to note that there has been quite an absence of meetings of creditors, and it may therefore bo assumed that although the volume of business has ken restricted, the basis on which it has been conducted is very sound.

Operations in llio Northern districts have received ,1 sevcro check, owing to the big drop in tho price of kauri gum, and it is a matter for rogrot thai tho demand from America nas fallen off at a timo when the storekeepers are recovering from losses incurred during tho past few years. A speedy termination of the war is hoped for, in order that values may get back to the figure which has been ruling for Bomo months past, Business in tho agricultural centres is very good, owing to tho high prices of all kinds of produce; and, though crops in some instances linvo been on tho small side, the increased values which are ruling have more than made up for any deficiency in this respect. Tho results of recent crushing liavo produced a beneficial effect in tho goldmining districts, and an improvement all round is noticeable. Tho Waihi mino established a fresh record, tho returns being £22,852, an incrcasoof nearly £4000 on the previous month's work. It is expected that when other English-owned mines got in full swing, proportionate increases in the returns will bo obtained. Statistics just to band for tho quarter ending March, 1693, show that tho imports to Auckland amounted to £527,290, as against £524,012 for a similar period of 1897. The valuo of exports for tho snmo period was £452,357, as against £412,015 for 1897. Tho results aro highly satisfactory, and show ihnt tho province is going ahead. A feature of tho month's transactions has been tlio advance in price of. a great number of articles of commerce, tho principal being local produce and a good deal of American manufacture. Tlio former, no doubt, has Been : affected by the shortness of supply, and the war between Spain and America is responsible for tho other.

Tho Government are determined to prevent Iho importation of diseased fruits, and last week a shipment of oranges and lemons Irom Sydney were condemned and destroyed. Their action has been highly commended, and met with tho strong approval of tho local fruitgrowers. _ Tliero has been a slight improvement in the timber industry, tho demand from both local and outside sources having increased. Shipping business lias lieon vory dull, and thero is no special feature to roport in connection with it. Audited statistics show tho surplus for the colony for last year to bo £521,000.

_ THE KAURI GUM MARKET. Wo havo now to roport that—tho summer being at an ond, and muclwieodod rain having fallen—tho quantity of gum being dug is at last diminishing. The arrivals wo now report, though very largo, nro much less than those reported a month ago. And further, the arrivals for the last fortnight aro considerably less than those of tho formor fortnight, so that wo may fairly look upon the very excessive supply of tho past few months as now being over. The outbreak of hostilities between Spam and the United States, for a whilo, had a very serious effect upon tho gum market, and at first it seemed as if business would como to a standstill. This oxtreme position has now passed away, and buying has boon, to a considerable extent, resumed; prices, however, have fallen for nearly all grades, and present transactions aro at lower rates than we last reported. The higher classes of gum have suffered most from the fall, while there havo been large transactions in black kinds at vory slight reductions in price. With returning confidence among buyers, and a lessening supply, owing to tho diggers having to leave tho swamps, it is hardly likely that there can bo much farther downward movement in values. Wo low quoto:—Poor ordinary, £1 17s to £2; ordinary, £2 5s to £2 10s; throequartor-scraped, £3 5s and upwards; East Coast, £3 5s to £3 8s; resciaped, £5 and upwards. Supplies since last mail have been about 780 tons, and the stock now hero in the hands of sellers and shippers is about 1400 tors. Of this quantity, about 400 tons or 450 tons is on board tho Evie Reed, which will sail for Now York within a week. Shipments have been made' as under:—For London, direct: Per s.s. Star of England, 214 tons; s.s. Mamari, 34 tons. For London, via Sydney: Per s.s. Elingainite, 26 tons; s.s. Tarawera, 144 tons; s.s. Westralia, 24 tons-' s.s. Mararoa, 9 tons. For San Francisco, diract: Por s.s. Mariposa, 1 ton: total, 452 tons. Of the shipments to London, a larger proportion than usual is intended for transhipment to New York, the war risk charged on gum going direct being now bo high