COMMERCIAL.

New Zealand Herald, Volume XXXVIII, Issue 11679, 14 June 1901, Page 4

COMMERCIAL.

New Zealand Herald Office, Thursday evening. The Royal visit ha* so far occupied the public attention that very little business has been transacted on the Stock Exchange during the week. Quotations for bank stock are unchanged. In insurances New Zealand* sold at £3 Bs, and sellers ask £3 9s. South British are offered at £*, with buyers at £3 19s Sellers of Nationals ask 18s 9d, buyers offering IBs 3d. Buyers of New Zealand Accidents offer £1 163S 6d. In gas stock Auckland fully paid sold at £13 12- 6d and £13 lis, and buyers now offer £13 10s. There are buyers of new issue at £11 03. Shipping shares are unchanged. In coals, Hikurangis are offered at 9s, with buyers at 8s 6d. Taupiri mines sold at 18s 4d and there are sellers at 18s 3d. Sellers of West Ports ask £3 19=. In timber there are sellers of Leyland and O'Brien at £1^ 12s, and of Mitchclsow at 19s. Kaiapoi J oollens advanced a point, buyers now offering £o Lis 6d. The mining market has been dull There have been pales of Waihi Extended at 4s and 4* 2d, closing with buyers at 4, 4d. Waihi Beach sold at 6iu ; Komata Reef, at 2s 9.1 : Crowns at 12s M ; .smarts at £1 3s; Tainm Broken Hills at Is 101, 2, and 2* 2d : Chelmsford* at Is Id and Is 2d*- Welcome Jack (contributing), at 9d ana 9id- and Broken Hill (Waiomo) at 3d. "business for the week has been interfered with by the festivities in connection with the Royal visit, but Monday was an extremely bu'V (lav, and business opened up well on Thursday. The retail trade has been very brisk. Hotels and boardingiiouf.es are taxed to their utmost to accommodate the influx of visitors who have arrived from all par.*. It would probably be a matter of surprise to the Government authorities to learn that the steamers between Now Plymouth and Onehunga have been running trips backwards and forwards m fast as possible, bringing visitor* from Taranaki and even further boutti, who preferred to come to Auckland instead of going to Wellington, in spite of the extra inducements offered them in the shape of reduced fares to Wellington. Visitors ;rora Wangamii state that there was no reduction to New Plymouth, and vet they preferred to pay these fares in addition to the, steamer fare. This is only another illustration of the way in which legislation is carried out iu favour of the Empire City, to the detriment of Auckland. ~ . , , The supply of maize has been limited to 103 sacks by the Waimana and Waiotahi, but the nrice remains the same, as local stores are fairlv well supplied, and it is recognised ♦)•.:<<■ the Quantity* to hand is only small, on account of the holidays. For the Inst four weeks we have drawn special attention to the fact that potatoes have been sold at a price that has not been warranted by Southern advice-, and last week wo mentioned chat some .Southern houses had withdrawn quotation*. Their foresight has been rewarded by » stiff advance to £3 17s 6.1 f.0.b., and a telegram from Christehnrch on ?-,f-,!i'!-:.- afternoon describes the situation tin!*: "Derwonts advan"ins daily, big movement anticipated.'' Something of this 'sort has been expected for a long time, and the opinion lias been expressed that we shall heft* of £5, f.0.b., before the sen-on is over. In the meantime the price may be given as £4 10s, ex wharf, and firm at that, and £4 15s to £5 ex store. There is a strong inquiry for l-jidney ---e', and it is difficult to get good < ;? , n ,,V<. prime being north £5 ex store. Oats continue very firm, and the price is expected to advance an soon ?s a few holders l.tive rjuitted some lines which they are willjug to sell at present rate. It is difficult to secure a large par''!' 1 , at our quotations, as all heavy holders anticipate an advance, ow\\:<i to the export demip.-l. There is good inquiry for seed Duns at 2- 6:1. Onions are now in small compass, and quoted up to 14s. Few] wheat is hard to buy, but little offerin??. Thero have been a few inquiries for grass =»ed during the last week or two, although the season was supposed to be over. This is owing to the exceptionally dry autumn, and crass seed sowing has extended right into .bine, for it must be remembered that although a shower may si>e:n heavy on the day of a lvov-d procession, we have had no heavy rain until yesterday, and the Waikato River is reported to be still at summer level. This fact came home to many in Auckland last week in rather a striking manner, when by instructions from the City Council the water was cut off from the hydraulic lifts. All tinned meats, and ham and bacon, are firm. Cheese remains easy, and the surplus over local demand is exported whenever possible. The wool market is in a very bad state. tiondon reports merino to be moving rather more frealy into consumption, but manufacturers and spinners continue to strenuously resist any rise in value-;. "Both suffered severely from large stocks in the disasters ff last year, and both are consequently all the more careful to acquire yarn and tops on terms which shall not compromise the reviving demand for the manufactured product. On the other hand, values of the raw material were unquestionably put down in winter below their strict industrial value, so that some recovery under more normal conditions of trade was only natural." Merinos are now on a par with March, 1898. while crossbred* fo the most part stand considerably lower than at that period,. Fashion is now against erossbreds, and the market is overstocked with coarse wools from the Argentine. As a London report puts it: "So long as wool is regarded as simply a by-product in great mutton-sheep producing countries, "like Australasia and Argentine, it is difficult to see whence material improvement foi these doscriptions is to be derived." Besides this, it would not be wise to neglect to take into consideration the signs of what appears to he a turn in the tide of commercial activity. A reaction is almost sure to come, after the enormous war expenditure, and the race for t( rritory of the last few years, and unfortunately wool is one of the most oensitivo to the commercial baromctct. In "the same way the finer grades of sheepskins? have been in demand, and at the last sales they showed an advance of five per cent., whereas medium and eo.ir-s ivoo'ied descriptions were quoted five per cent, lower. Kerosene is very firm, and for present delivery some houses are quoting rs lii„h as lis 6d. Large lines would not be quitted at y.iesent rates. Supplies of galvanised iron are short Cable advice shows a slight hardening in the iron market, Ixith in England and in America. The latter are not anxious to book iron orders, especially foi bars. There has been an unusual delay in getting the supplies of Mildura fruits 'his «■»,»* n, owing to the drought in Australia delaying the navigation of the rivers. Fruits in gouc-jal are in better demand. Flax is not in such good demand now that the Delphic has taken all the orda.-s on 1 ai d. In the local produce market there are several changes to note. Factory better la, advanced to Is, best farmers' butter - s 2d, second-class 7d pound wholesale. Eggs have been forwarded in large quantities, and «re in consequence now quoted at Is 3d dozen wholesale KAURI GUM MARKET. The following are our quotations of kauri gum tor the week ending June 10, 1901: — White irum: Boor ordinary, £25 and up-

warns; fair ordinary, £*5 and upwards; bold three-quarter scraped, fres from nuts, £72 and upwards; Ease Coast, best quality, £72 ,ind upwards; re-scraped, £115 and upwards. Black gum: .Nut-, sifted, £10 and upwards; medium, free from sugar, £16 and upwards; good, £43 and upwards. Remarks on market: Arrivals for. 10 days of June, 2-30 tons. Business continues fairly steady at about foimer pr;ce=. LONDON Br Telegraph.—Press Association.—Copyright. ! LoSDOS, June 12. - he wheat and flour afloat for the United Kingdom amounts to 3.415,000 quarters, and for the Continent to 1.300,000 quarters. Shares arc unchanged. Tin: On spot, £132; three months, £126 I 7s 6'i. ! 'follow sales: 1750 casks were offered a', i suction, and 1100 sold. Prices for all kinds • :tn; unchanged. { . | AUCKLAND STOCK EXCHANGE. j Business DOXE.—Broken Kill (Waiomo), 3d. I BL'VEU*.—National Bank. 765: National In-! surance. 13s li; New Zealand Accident Insurance. sis 6d; Auckland Gas. old. £13 10s; \ Auckland Gas, new (£4l, £11 ss; Union Steam- • Oil). £10 12- 6(1; New Zealand Shipping, £6: I.t: Northern Steam-hip. contributing, 7s 7d ; j Devonport Steam Ferry. 365: Hikuranzi Coal, j 3s 6d; Northern Boot, 9s: Avondale Brick and : Potter'-. IPs: Kaiapoi Woollen, £6 12s 6d; Broken Hill, £ : d; Chelmsford. Is 3d; Crown. , i2s 41; Komata Reel-. 2s 7d: Pride of Waihi. \ Sid: Rising Sun. id; Star of*Waihi, lid: Tai- 1 rua Broken Hills. is lid; Waihi. £?; Waihi I Reach United. n »i; Waihi Consolidated. Is 4d: ; Waihi Extended, in <M : Waihi Grand Junction. 3"; (>(1 ; Waihi South. lOd; New Four-in- . Hand, 2s 6d ; Hauraki Freehold, 6d. i SELLEHS.— of New Zealand, 535; Na-' tional Bank. 795; New Zealand Insurance, 695: National Insurance, IBs 9d; South British Insurance, Sjs; New Zealand and River Plate. old, 19s: Northern Steamship.- paid up. 16s Gd: Northern Steamship, contributing, 7s 10d; Devonpcrt Steam Ferry. 36s fid; Hikuramri Coal. 93: TaUiHri Coal Mines (Limited), 18s 3d; Westnort Coal. 735: Northern Boot. 9s (x 1: j ! Leyland-O'Brien Timber Co. (Limited). 325; j ! Mitcbelson Timber Co.. 19s: Avondale Brick I and Pottery, 20s: Broken Hill. 3id; KuranuiCaledonian, Is Id; May Oueen Hauraki. 7id; Mav Queen Extended, M : Monowai, 3s 6d: New Alburnia, -d; New Wh.au. 2d; Victoria, :;-d: Welcome Jack, contributing. Is; Alpha. 3d: Chelmsford. Is 6d: Crown, Us; Imperial, 2d: Komata Reefs, 2s lOd: Ohinemuri Syndicate. Is Id; Pride of Waihi. sd; Rising Sun. 6d; Tairua Broken Hills, 2s 2d: Union Waihi. 19s: Waihi. £9 10s; Waihi Beach United. 7d; Waihi Consolidated, Is 3d; Waihi Consols, fid: Waihi Extended, 4s 6d : Waihi Grand Junction. 42s 6d: Waihi South. Is Id; Waitekauri, 12s 6d: Woodstock. 7s: New Four-in-Hand, 2a 3d: Hauraki Freehold. 7'd; Barrier Reefs. 3s 6d; Whangamata Gold Corporation, 3s 6d. G A. BGTTLE, Chairman. AI.rKRf) OoDHAII. Secretary. 3.15 p.m.. June 13. 1931. CALL AND DIVIDEND LIST, ctLis: Mmlc. £s, ft. Bate Hunker's Mill .. May It.. 0 0 ■'■ . June U Vniin" New 7.e<luil ■"•'a/ 12.. 0 0 1 ..June is Welcome Jack .- May 22.. 0 0 1 ...Tune If' Chelmsford .. .. May M.. 0 0 1 ..June 25 DIVIPKNDS: Waihi 0 2 6 ..Now Tonsoii Garlick Co S% ..Now Mount Lyell -Mining and Railway Co 0 2 6 ..July 1