THE YEAR 1899.

New Zealand Herald, Volume XXXVII, Issue 11275, 19 January 1900, Page 3 (Supplement)

THE YEAR 1899.

A COMMERCIAL RETROSPECT. TnE past year has not been left too far behind to briefly review its effect upon our commerce, before the returning tide of business sweeps away all thought of 1899, and compels us to look forward eagerly towards the year which lies bofore us. It is pleasant to be able to deny the truth of the well-worn complaint that " times are hard," as on every hand there are indications that as regards ourBelves, tho province has recovered from the period of depression which existed some years ago. It is pleasing to bo able to say that during the past year comparatively few business men were compelled to seek refuge in the office of the official assignee, as wo have only a record of 50 bankruptcies for the year, and in a largo number of cases tho defieit was very small indeed. Our industries have gone ahead with a steadiness which precludes any notion of a " flash in tho pan." Good prices have been obtained, and a largo amount of labour employed. Tho wool clip has been exceptionally good, and the year's results of 154,165,2301b, shows an increase nf 65.14 per cent, within the last 11 years. The export of gold has gonn up by leaps and bounds, the kauri gum industry has prospered, und our timber trade has been more than satisfactory. Encouraging as these results are, and indicative of the resources of the country, they point emphatically to the wisdom of still further developing those resources, and opening up the province for trade from one end to the other. Money spent in this manner would yield n speedy return. As regards the city, a careful handling of tho financos has shown a greatly improved balance, and the improved financial elate of affairs has warranted tho citizens in giving their sanction to the Mayor's proposal to make tho city more up-to-date. Improved roads improved drainage, an increased water supply, and bolter appliances for fire extinguishing aro included in this comprehensive scheme, and it is snfo to say, that, as the financial position of tho city is annually strengthened, as it must be, owing to it-s' endowments, the advantages of the city improvements will mure than warrant tho expenditure of the £100,000 which is to be borrowed temporarily. THE GOLDFIELDS.

Tho word of operations on the Auckland goldfields shows a highly prosperous etato of affairs, the total output for the year being £641.150, ns against £531,584 of last vear, showing an increase of £109.566. From the records of previous years it is evident that this larpe increase is no " flash in the pan," but an unerring indication of steady prosperity. The figures for the past four years are: 1596, £229,0*2; 1897, £35\595; 1698, £531,584; 1899, £641,150. Eeo. raging as those result* undoubtedly are, it is by no means idlo to contemplate a cycle of succeeding years each of which will surpass its predecessor in the vnluo of its golden harvest. Colour it given to this hopo by the fact that in tho more important mines, notably in the Waihi mine, preparations have already been made to increase the crashing power by the erection of more stamps, and the old process of drycrushing is gradually being superseded \>y the wet-crushing process, which is said to give better results, and to he far less expensive. Of the year's returns Ohinemuri eoiuributes £83,749 of tho genoral increase, the Waihi being responsible for £28,887. the Crown H.S.HI, the Waitekauri £10.224, and the Talisman £11,738. Thames supplies the balance of the increase, the total showing .in increase of £53,225 on the previous year. It is worthy of note that while progress has been pretty general over the whole field, tho prospects of the Waihi Company, the New Zealand Crown Mines, and the Kauri Freehold Gold Estates, stand out prominently. In many other mines there is every prospect of a largo increase in output during the coming year. KAURI GUM.

In the year 1898 the output of kauri gum reached 10,557 tons, which established a record, but during the year which has just closed, that tonnage has been exceeded. The annual returns showing the production and export have not yet been made up, but tho amount of gum dug in 1899 is expected to exceed that of 1898 by at least 1000 tons. Notwithstanding this increased production, tho range of prices for good gum is now higher by 5 to 10 per cent. Tho poorer grades have not experienced any advance, but tho main fact that ruling prices have been maintained in tho face of the increase in the output points to an improved demand of a more or less permanent character. The current nrices for gum are :—Poor ordinary. £35 to £12: fair ordinary, £45 to £50; good ordinary, £52 to £62; superior ordinary, £70 to £30'; Kast Coa.<t, £76 and upward- ; nscraped, £110 to £120. WOOL.

The year 1899 lias b«cn a very satisfactory ono to graziers in the province, and for that matter throughout the colony, tho smart rise in wool being responsible for this. In responso to inquiries by a Herald reporter, Mr. Frank Bndle, manager of the New Zealand Loan and Mercantile Agency Company, stated that the clips in 1899 have been superior to the clips of tho previous year, and it ie gratifying to note that graziers are turning more attention to tho breed of flocks, as present indications are that for some years to como woolgrowors will, as during the present season, have a rosy time, and more particularly those who give thi necessary attention to the growth of tin finer wools. For instance, it will be noted that an astonishine rise has taken place in merino wools since 1893, the prices beini? from 5d to Is 3d, an advance that is largely duo to the shortage- in Australia, and to the fact that throughout the wool-producing centres all the world over, farmers have gone in for crossbred sheep for the frozen meat trade-, thus runnine out of the finer wo.-iis and leaving the Home manufacturers very low. With the introduction of merino or other pure-bred rams into the flocks, the local n'Piket will be rid of the more shabby class of wool, and tho more stylish wool that will tako its place will induce outside buyers never before seen horn to turn attention to the New Zealand market?. Altogether it is safe to say that the outlook is a very bright one for our graziers, and that for some time to come good prices will be obtained for store sheep, and a high figure for clips; things have not looked so well for many a long day. AGRICCLTTRE.

While those of our settlers who have gone in for wool growing have every reason to feel satisfied with the season's results, tho samo can hardly be said of those engaged in agricultural pursuits. In conversation with Mr. W. F. Massey, M.H.R., as to tho crops, etc., durinp 1899 season, our representative was informed that agriculturists had not had a good year, particularly in the Auckland province. The last harvesting season was so terribly wet that crops, which had. up to tho fall of rain, promised and looked well, were Badly damaged, and thus deteriorated to filch an extent in prico that our farmers sustained serious losses. This applios moro particularly to cereals, which were rendered very much lower in prico than would otherwise have been tho case, while, in some cases farmers still had portions of their crops in hand, duo to their inability to find a market. Dairv produce has only ruled fairly in price, though the establishment of tho dairy factories has proved very helpfill to the email farmers, and butter has maintained a fair price, and looks likely to continue so to do. But while the operations of our farmers have not met with the rneafiiro of success that might bo wished, it is extremely gratifying to noto that the present outlook in full of promise, and that they are about to enter on a more prosperous year. Crops are looking well, and if the weather continues fino tho harvest should bo a good one, while tho trouble in South Africa assures a ready market for oats at remunerative prices, and for chaff and forage generally. THE TIMBER AND BUILDING INDUSTRIES.

For the past three years there lies been n very brisk trade in the timber industry, and quite tu boom in housebuilding in and around tho suburbs of Auckland, tlu> result of cheap money, noUhly in Ponsonhy West, Newton. Arehliill, Mount Roskill, Mount Eden, Remuora, and Kpsom. Possibly the hardening of the money market may check house-building. In addition, the export trade in timber to the South has increased, especially of late, owing to tho development of tho dredging industry, which has led to a doinand for Auckland timber. The demand for Australia has also increased, although closely prossod by severe competition from American timber and Baltic pine. At present the timber industry may be regarded as in a very prosperous condition. Few good mon aro out of employment; the mills are all full handed, and looking to the coming year as simply a repetition of the prosperity of the past threp years. 9ome of tho Amoricans interested in the timber industry coneider that our machinery is not up-to-date. In all tho American mills the bandsaw is used, instead of tho circular breakingdown saw. An Auckland establishment has put up one of the American machines, and considers the saving of sawdust as from 12£ to 15 per cent., and the proprietors are so satisfied with the result that they intond importing another band-saw. There is no othor industry from which labour draws so large a percentage of bushmen, millhands, seamen, earponters, nil taking toll. Half-a-dozen trades aro beneficially

affect*! or otherwise, accordingly as the! timber tw'de is brisk or dull. It is stated that tie Auckland Sawmillors' Association Ims dona much to avert undue competition and knep the timber market rates on sound lines, while at the same time avoiding the creation (if " a corner," to the injury of the public, who would tako tho fame method of resenting unwarrantable interference with trade. A Christchurch representative of an Auckland firm reports as follows;— " Them is every indication of increased trado for i;iOO, especially in Christehureh and Dunedin. Wellington, 1 think, will keen up to list rear, but I do not anticipate there, as iu thi-i city and Dunedin, an increase. Canterbury is very prosperous, and the farmers hav e money to spend. Tho ordinary buildwg trade is brisk, and likely to continue to the end of 1900, as it is tho Canterbury jubilee, for which very great public preparations a-e to be made. In Dunedin the dredging is still expanding, and will continue to do so. There is not much of a boom in tho common acceptance of tho word. The aggregate returns are steady, and are increasing." SHIPPING.

Tho shipping trado of Auckland has devotoped considerably during tho past year, :>l- - the trade between tho colony and London find Australia is now carried on pructica'.l)' by largo steamers of the cargo-carry-ing t_v]ie, which have came into vogue during the pen few years, thn day of the sailing vessel, Ki lar as that trade is concerned, being done. The frozen meat and dairy produco trado ias expanded so largely of iate years that t io .-lass of steamers which were'larso and suitablo enough to carry the amount of cargo offering at the commencement of the trade lu,\e had to givo way to larger and moro upto-dato vessels. Tho steamers now engngo.l in tho trado vary from 5000 to 10,000 tons n ifuner, the latest additions to tho fleet being vessels of about the latter tonnage. Several ol tho steamers are capable of carrying 10),C00 carcases of frozen mutton, besides having cariro capacity for about 5000 hales , f wool, and about seven moro vessels of this cl;iss are now in the hands of British builders. The past year has witnessed the inauguration of a cargo-carrying steam service between New York and this colony. Two tompanios aro cngafted in the trade— thn Tyw line, who run their steamers from New York to Melbourne, Sydney, and Auckland, proceeding thenco to the' Smith, and loading for London, and then going across to Nor York to load for the colonies again. The cthnr servico is maintained by tho United States and Australasian line, the steamers utilised being chartered as occasion nrieps, and run direct to the colony from Xew Yiirk, and as a rnlo making Auckland the fir.t port of call. Tho intercolonial sailing tr:i-le is pretty well in thn hands of Auckland si ipowners, very few vessels owned elsewhere being engaged in it, outside of tho carrying of timber from Kaipara to Australia. During the past year several fino vessels have been added to tho locally-owned fleet, viz., the bnrouentines Quathl&mba and Mnrgarila, thn ship Republic, and tho barque Alceslk The shipping returns for the year show hat 22<l vessels, with a tonnago (if 305,88?. were entered inwards at this port, and 171 vessels, with a tonnage of 212,331, were cleared outwards. The returns for 1893 were is follow:-Entered inwards: 253 vessels: tonnage, 292,873. Cleared outwards: 210 veaeela; tonnage, 218,930. SHIPBUILDING.

Although no vessels of largo size have been built at this port during '.he past year, builders havo been 1 opt busily employed in turning out some of the. smaller class of steamers *nd sailing vessels for tho coastal trade, which is stenilily expanding as settlement proceeds along (he const line. Builders, however, find plenty of work at yaeht and boat building, and tlw local builders have made a name for thenifie'ves all over Australasia for the design ftiul speed of tho yachts they turn rut. Durinß tho past year a 36-footor named tho Bonn vas built for Mr. J. Chinnery, of Sydney, by C. Bailey, jun., of Auckland: nnd a 30-Tootpi, tho Aoma, by Logan Bros., fer Mr. J. Broekhoff, of Sydney. The former made 1 er first appearance as a competitor in a race on the 6th January, ami scored an easy win. Aoma has been engaged in several ra at Sydney, her greatest rival being the Meteor, also an Auckland-built yacht, and fo far the honours are about rquallj divided, Logan Bros, are also tho builders of the 36-fooler Rainbow, owned by Mr A. H. Pittar, of Auckland, nnd sho has developed a most phenomenal 'ate of speed, winning every event for which she has started. WHOLESALE TRADE.

Tl'.e wholesale houses throughout the > ity speak of the year 1899 as having been z. very mtisfactory one. Speaking generally, the rdutnn of trade has been well maintained, and in many branches of business, such us ironmongery, soft goods, and oilmen's stores, it was somewhat larger than it was in the preceding year. The only thing the imporlrvs of grocers' stores have to complain of is the very keen competition in this branch, which has naturally brought about a very low average rate of profit. In many lines prices are higher than in the previous 12 months, owing lo market advances. Eastern goods, such as farinaceous ;'>.>Js, corn naeks, woolpacks, etc., have all experienced a sharp advance. From the 'atest report: from agents in Japan it would seem that the bad seasons that havo been oxperienced in the East are tho cause. The increased cost of raw material has affected the prices of some lines, such as candles. Canned fruits and tinned meats havo also advanced. The soft poods warehousemen anticipated that the Auckland Industrial am' Mining Exliibiion would have a detrimental effect on tho trade of the year, but they were HgroeaMy surprised to find that no such result f< llowed. The timber and gum industries lave both been brisk, and that means tho ciidilation of a considerable amount of money, in which the warehouses share. Prices have remained steady throughout the year. The prospects for the closing year of tho 19th century are considered most satisfactory.

RETAIL TRADE. During the past year thero has been a marked increase in all branches of tho retail trade, and this was contrary to expectation, it being the general impre=-ion in this branch that a reaction would set in after the Industrial Exhibition bad closed, and the annual returni point to a prosperou* year, end tho outlook for the. new year is equally good. It is admitted by our principal business men that trade has increased from 10 per cent, to 20 per cent., this being morn noticeable with regard to the country connection, Thero is not th- , same tendency to obtain chean lines from foreign markets, hut the importation rif American goods has increased in most lines, owing to tho manufacturers meeting the trtdo by reducing their prices. There is a better feeling in business circles, and the outlook for the coming year thus assumes bright prospects.