COMMERCIAL.

New Zealand Herald, Volume XXXVI, Issue 11199, 20 October 1899, Page 4

COMMERCIAL.

New Zealand Herald Office, Thursday evening. THERE is no material change to report in the sharemarket. Investment stock continue firm at late rales. There are buyers of National Banks at £2 12s 6d, with no declared sellers. In insurance stock, buyers of New Zealands offer £3 0s 6d, and there are sellers at £3 2s. South Britishs sold at £2 15s, ex div. There are buyers at £2 15s, and sellers at £2 17s 6d. Sellers of New Zealand Accidents ask £1 6s. In gas stock there are buyers of Auckland, fully paid, at £13 ss, and sellers at £13 lis. Sellers of contributing ask £10. There are buyers of Gisborne at £1 18s. In shipping shares, Northern Steams are offered at 7s 6d, and Devonport Steam Ferrys at £1 19s. There are buyers of the latter at £1 17s. Coal shares are dull of sale. Hikurangi* are offered at Bs, and Taupiri mines at £1 Is, cum. div., but there are no declared buyers of either. For New Zealand Drugs (£1 10s paid), buyers offer £1 18s 6d. There are buyers of Union Oils at £1 0s 6d, and sellers at £1 Is. There are sellers of New Zealand and River Plates at £1 2s, and buyers at £1 Is 3d. The mining market has shown a little activity for one or two stocks. Waihis sold at £8 ss, and there are buyers at £8 7s 6d, and sellers at £8 15s. Wailii Grand Junctions sold at £1 0s 6d, and there are buyers at £1 Is. Waihi Extendeds sold at 10(1 and 10|d, and Wailii Souths at B|d. Grace Darlings sold at 2s 4d, and there are sellers at 2s 6d, and buyers at 2c 3d. New Zealand Crowns have been in demand, and sold at 13s 6d, 13s 9d, and 14s, closing with sellers at 14s 3d, and buyers at 13s 9d. Talismans sold at 12s and 12s 3d, closing with sellers at 12s 6d, and buyers at 12s 3d. Imperials sold at 4d and In Lower Thames stock, May Queens sold at 5s 3d, 5s 4d, 5s 6d, and 5s 3d, closing with sellers at 5s 6d, and buyers at ss. New Whaus sold at 3d, 3£d, 4d, and 3gd. Broken Hill (Waiomo) sold at lid, 2d, and lid. In Coromandel stock, Four-in-Hands sold at 3s Id, 3s 2d, and 3s 4d, closing with sellers at 3s 4d, and buyers at 3s 3d. There are sellers of Barrier Reefs (paid) at 4s, and buyers at 3s sd. Sellers of Whangamata Gold Corporations at ss, and buyers at 4s 2d. There are sellers of Tairua Broken Hills at 2s 2d, and buyers at Is lid. , Being tho middle of the month, business in general lines has been rather on the quiet side. Finance on the whole is reported as being in very fair condition, and money is coming in pretty well for the time of the year. In hardware lines there is not much change to report, but the market still keeps very firm for all metal goods. Cornsaeks and woolpacks have been in very heavy demand, and prices are firm. In groceries there has been a big inquiry for currants, which, as advised last week, have bom allowed to ran low on account of the new fruit bei.™ shortly expected. The market is firm at sd. London advices of last month advise opening prices for this fruit as being high, but point to a probable decline after the first rush of orders is over. Rice is very firm at £21 d.p., and no quotations from Japan are available. Sago and tapioca are unaltered. Canned fruits are in good demand, and poaches especially are scarce, but fresh supplies are expected by the mail boat next week.

Canned meats have been advanced 5 per cent, all round by the local packers and all Southern canneries have raised their quotations, some of them to even a greater extent. The large orders for South Africa, coupled with the high price of tin plates, and the general shortage in live stock, are now being felt, and a further movement may be expected. Oatmeal lias again advanced 10s per ton, making in all a rise of 30s over the last fortnight. Kauri gum maintains its position of last week, though buyers are, in some instances, rather easier on account of the lack of sufficient freight accommodation. The Grace Deering, now on the berth, will only be able to relieve the market of about two-thirds of what is on order. Higher qualities are in best demand.

Flax remains steady at about last quotations, but deliveries have been very smail, on account of the irregular weather. Millers are finding great difficulty in keeping pace with their contracts, and the colour of the fibre in some cases is suffering. The market for forward contracts is not quite so brisk as it has been, but there seems good prospect of payable prices for several months to come.

The London wheat market is very firm and advancing, and all Australian markets have improved in sympathy. Adelaide is quoted at 3s 4d firm, and advancing; Melbourne, 3s 4(1 to 3s 6d; and Sydney quotations are very high and unsettled. In our Southern pcrta holders have withdrawn all previous quotations, and it is difficult to namo any price, but last indications wero 2s 8d to 2s 9d for Tuscan and pearl, and 2s 7d for red wheats. 1 lie same feeling has been to some extent imparted to the flour market, though, on account of the heavy forward contracts made, whpnf ' S 'ti - Ult6 - 16 same V ' uo >'ancy as in l ,f' -f The inevitable result of the position b i a c l!lr Pr T conditions are maintained, b! a sharp advance. Oats show an excited and advancing marhands at ls rge iOd ,n flb. ha Bl u ff han fi is confidently expectafthaT 2*'' Southern porta will be touched before many S have elapsed. It must be borne In mind ban Til"' Prioe ? ts are not moro than at their average value, taking season with season, and it is only the exceptional conditions of this present season which have values down to the phenomenally low ebb at which they stood prior to this recent advance. All feed stuffs are feeling the same market changes, and bran, pollard, barley, chaff etc., are all firmer. ' Potatoes are stronger; an upward tendency is bomg manifested. Maize has shown a sharp advance, and though close on 3000 sacks arrived this week, 2s 4d to 2s 5d w • readily obtained. Tho Sydney steamer took away about 2400 out of these supplies, and the local market is in consequence very firm. London advices of September 8 show the butter market as £5 6s to £5 10s for choicest Canadian, and Australian best brands as £5 3s to £512s per cwt. These high prices are tho result of the unfavourable conditions existing all over Europe, which are said to be worse than any experienced foi years. The drought has been most severe, and though showers have fallen during the last fortnight, the" are quite insufficient to restore things to their normal condition, as the pastures are dry and parched up to an extraordinary degree. Advices from the same source in regard to cheese are as follows:— the last month prices of Canadidn have risen about °. fir cwt, but " spot" values are still below oi.f quotations, white realising £2 14s to £2 15s; coloured, £2 15s to £2 16s; while c.i.f. quotatiohs for August makes of both sorts are £2 18s, and Septembers are quoted as high as £3 2s. The make of 'English has been very much restricted by. the weather, and the whole season's output will not much I exccod half a good avei'age make. '; Canadian '."-" V. v -,Vt4is}' '■V - 'V'

dairymen appear to prefer, to make iv pound of butter for Hid, instead of using their milk for making cheese, which at) present values would be worth Is 3d. This state of things cannot long continue. In the local produce market, the large supply of farmers' butter has had the effect of reducing the price, Tho grocers' syndicate report as follows: —Farmers' butter, 6d; and second quality, 5d It wholesale. Eggs are 6d dozen wholesale, the retail pricc varying considerably, KAURI GUM MARKET. The following are our quotations of kauri gum for the week ending October 18, 1889: —White gum; Washed nuts, £32 and upwards; ordinary, £45 and upwards; good ordinary (unpicked), £50 and upwards; superior ordinary, £72 to £75; East Coast (good quality), £75 and upwards; "scraped, £113 and upwards. Black gum; Nuts, £14 and upwards; medium, £18 to £22; superior, £45 and upwards. Supplies for 18 days of October, 440 tons. The market Jjas been decidedly quieter during the last week. The supply has been full and the demand less active. The barque Grace Deering is in port and will commence loading for New York next week. LONDON. By Telegraph.-Press Association.-Copyright. London, October 18. The wheat and flour afloat foi the United Kingdom is 1,940,000 quarters, and for the Continent 1,400,000 quarters. _ Bank shares: Bank of Australasia, £62 15s; Bank of New South Wales, £41; Union Bank, £32 10s; National Bank of New Zealand, £2 10s; Bank of New Zealand 4 per cent, guaranteed stock, 101 i; New Zealand Loan and Mercantile 4 per cent, prior lien debentures, 92. At the tallow sales 1125 casks were offered and 117 sold. Mutton, fine, 28s 6d; medium, 275; beef, fine, 27s 9d; medium, 26s 3d. AUCKLAND STOCK EXCHANGE. BUSINESS DONE.-May Queen Hauraki, 6s 6d- Waihi Extended, 10(1, 10jd; Ohinemuri, 3d; Mount Lyell M. and R., £10 17s 6d. BOYERS.—National Bank, 52s 6d; New Zealand Insurance 60s 6d; South. British Insurance, 555; New Zealand and River Plate, 21s 3d; Gisborne Gas, 38s; Devonport Steam Perry 375; New Zealand Drug (£110s), 38s 6d; Union Oil, 20s 6d; Crown, 13s 9d; Grace Darling, paid up, 2s 3d; Grace Darling, contributing, Is 3d; Imperial, 4d; New Zealand Talisman, 12s 3d; Waihi, £8 7s 6d; Wailii Extended, lOd; Waihi Grand Junction, 21s- Waihi South, 8d; Mount Lyell M. and E.,'flo 12s 6d; Broken Hill, lid; Kuranui, 2d'; Kuranui-Caledonian, Is sd; May Queen Hauraki. ss; New Whau, 2d; Victoria, 6d; Four-in-Hand, 3s 3d; Barrier Reefs (issued at 18s fid), 3s sd; Whangamata Gold Corporation, 4s 2d. SELLERS.—New Zealand Insurance, 625; South British Insurance, 57s 6d; New Zealand Accident Insurance, 265; New Zealand and River Plate, 225; Auckland Gas, old, £13 lis; Northern Steamship, 7s 6d; Devonport Steam Perry, 395; Hikurangi Coal, 8s; Taupiri Coal Mines (Limited) 21s; Westport Coal, 68s; Sharland and Co.. lis 6d; Northern Boot, 10s; Union Oil, 21s; Crown, 14s 6d; Ethel Reef, 6(1; Grace Darling, paid up, 2s 6d; Grace Darling, contributing, Is fid; Imperial, sd; Komata Reefs, 2s 6d: New Zealand Talisman, 12s 6d; Ohinemuri, sd; Ohinemuri Syndicate, 2s 9d; Rising Sun, 2d; Waihi, £8 15s; Waihi Extended, 10& d; Waihi Silverton, 10s; Waihi South. 9d; Waitekauri, 455; Waitekauri King, 2d; Broken Hill, 2d; Kuranui, 3Jd; Kuranui-Caledonian, Is 9d; Maliara Royal, 2s; May Queen Hauraki, 5s 6d; May Quean Extended, 3d; Monowai, Is 3d; New Alburnia, Is; New Whau, 4d; Tararu Creek, 6d; Victoria, 8d; Bunker's Hill, old, Is 6d; Bunker's Hill, new, lid; Four-in-Hand. 3s 4d; Hauraki Now Zealand Associated Gold Mines, 4d; Harbour View. 3d; Now Gotcnnda, 3d; ProtrressCastle Rock, 4d; Roval Oak of Hauraki. Is 6d; Welcome Find, 4d; Zealandia, 3d; Harrier Reefs (issued at'lßs fid). 4s; Great Barrier Gold and Silver, Is Id; Whangamata Gold Corporation, ss. J. M. LENNOX, Chairman. 3.15 p.m.. October 19, 1899.