COMMERCIAL.

New Zealand Herald, Volume XXXVIII, Issue 11716, 26 July 1901, Page 4

COMMERCIAL.

: ■ New Zealand Herald Office, 1 Thursday evening. ' The Stock Exchange is still unsettled, with ■but little business doing. No sales Ireeorded '■ in banks. Nationals are qffered at £4 cum div.• now payable. Now. Zealands are offered at: £2 10s, but there/are. no buyers. In insurances. New Zealands are offered freely at £3 2s 6d, and there are small buyers at £3./ South British sold at £3 14s, and there are sellers at £3 lbs, and buyers at £3 12s 6d. Nationals sold at l?s sd, and there are buyers at 17s 3d. Accidents sold at £2, and there are still buyers at that price. In gas stock there are sellers of Auckland, fully paid, at £14 35,. cum diy. now payable; and of contributing, at £11 15s, cum div.,' but there are no buyers of either. In shipping Devonport Steam Ferry sold at £1 16s, and there are sellers at £1 16s 6d. Northern Steam, paid up, are offered at 18s 6a, with buyers at 17s 9d; contributing are offered at Bs. with . buyers at 7s Bd. In coal there are sellers of Hikurangis at 8s 6d, and buyers at 7s 9d. Taupiri mines sold at 18s 6d, and there are sellers at 18s 9d, and buyers at 18s 3d, West : port* sold at £4. In timber shares kauri Company, contributing, sold at Is 3d; there are buyers at i Is 2d, sellers Is 6d. . :.-'• New Zealand Drugs sold at £2 12s 3d, and there are buyers at £?, lis 6d. . D.S.C. sold at 9h 3d, and sellers now ask 9s 6d, with buyers at 9s 2d There are buyers of Avondale Brick, and Pottery at 19s 6d. The mining market is very dull. "Waihis sold at £6 3s; Wuihi Kxtendeds 2s lOd, 3s 3d, and 3s; Komata Roofs at 2s 3d and 2s 2d; Waitekauns at 10s; Crowns at 12s; Victorias at sd; I Kapowai, contributing, at 8d; Hauraki Freeholds at 9d and 9£d; Barrier Beefs at Is and Is 2d. ' " ■■■"•"'. : ■ . Wholesale business continues very good, an improvement being noticed this week, owing to tho usual orders for the 25th. , Business with, the country districts is of course terribly handicapper by ' the bad condition of the roads at present. This difficulty will remain until tho people, and especially our members of Parliament, wake up to the fact that the "roadless ' North," as it has been aptly described, should in common justice be traversed by a network of railways, and that, indeed, the whole of the Auckland district should have ' its fair share of railway expenditure. The drapery clearance sales are still in full swing, and a large amount of business is passing. I ; It has been observed that since the Royal visit pearls have. become very fashionable, and large sales have been made of pearl brooches, necklaces, etc., leaving a scarcity ' in local stocks. Advices show a higher cost from the South Seas, so that jewellers will have to replace their stocks at a considerable advance.: ' . . ,' ; Maize continues in very good demand, '■ the local requirements being very heavy, . and there have also been Southern inquiries, ' so that we are in no need of any Australian markets. Sydney and Melbourne are weak at 2s sd, while Queensland's value is given at 2s 6d to 2s 7d, with a probability of suffi- . cient locally grown for $1 their require- » ments. With regard to our market, .there ' is no doubt that the comparatively high price I this season is in sympathy with the high r figures at which oats and wheat can be landed - fiom the South, but the present rates are t fully justified by the fact that in the Auck- " ; land' district the' crop this year is 30,000 r, sacks short of last season, and in Hawko's v Bay, the only other important maize-grow- . ing ; : province, there is also a shortage of - : some 7000 sacks." During the week 50 sacks 1 arrived by the Terranora and 590 by the J Waimana, and the price remains at; 2s 4d

on the ; wharf, for wholesale J of new £rain. prime samples of old being worth 2s Id. The opinion is held .that there will be no substantial rise about this p rate, unless through some temporary as any rushing up of the price would only curtail ?%£*&£'. market is dull again, owing to the price in the South ?; having temporarily gone back ~to . £5 ss, a drop of 10s From ast woek. A telegram received today states that the market is. now firmer in the South. The present price here is £6 to £6 5s delivered, and; the few lee that have been made from the wharf have been at a shade less, so that as usual there is not much margin for importers. Some have hive come in from Tauranga, and have been placed at £5 10s. Seed. potatoes are selling very freely, kidneys being worth 6s to 7s, while Early Rose, Beauty of Hebron, and Magnum Bonum are worth a shilling more, The fancy varieties aro selling •in smaller quantities at a slightly higher range of

We mentioned last week that oats had made another move, and this time it appears to have come rather as a surprise to local produce dealers, as it was thought that the advance established a month ago was sufficient for soma time. That advance was caused by the small stocks available, owing chiefly to the difficulty in getting railway trucks, and the general disorganisation of the traffic on the Hurumri-Bluff section during the Royal visit did not tend to mend matters. This trouble has now disappeared, and vessels have been getting much quicker despatch, no less than five getting away in one fortnight recently. The advance this time is owing to continued ■large export orders. Bluff is quoting Is '.Hid to 2s f.0.b., ; and an order has been placed for South Africa for 10,000 sacks at the latter figure. It is reported that Melbourne has secured all that could be picked up at even 23 o£d, and large orders have been placed for August and September. - It is opined that Australia is buying for stock, in anticipation of Federal ; tariff, as we reported recently that the Sydney Farmers Convention desires the Federal Government to raise all the revenue through the Customs, and to specially aim the tariff at New Zealand produce, in order; to force us into the Commonwealth. , Seed oats are getting scarce, and long tartars are almost sold out. Prime samples of milling wheat are readily picked up in the South, as there are not many offering. In reply to a telegram the Christchurch price was to-day given as la 7 Ad, f.o.b. for mixed sorts. If this is so, the advance is owing to the fact that cheaper freight rates are now obtainable to London. Fowl wheat continues scarce and dear. ,■■ There is no move in flour locally, but it has been reported that the Flourmillers Association are now getting a better price in the South than on the Auckland market, where they have the competition of the mills outside the association. _ ,• . Bran is very scarce, and the price has advanced ss. ' _, , Onions are getting scarce. lhe next 'Frisco onions should arrive to a good market. -'.- ' Blue peas are rather scarce, as the South has been shipping Home. Chaff is in better demand. Stocks are getting low and a few lots' have arrived from the South. Local of good quality is worth £2 15s at the station. . • Tliis is not the time for grass seed, but the wholesale inquiry has already set in for cocksfoot and rye, as merchants are beginning to look round for their supplies tor the season. Prices are likely to range high. Boiiedust is in good demand,, and is likely to go higher, judging by Sydney reports. Cornsacks are in slightly better demand. Both sizes are selling for maize, although it was thought that last season would see the end of the 48in. An attempt was made to stop the packing of maize in- largo sacks on the grounds of the injury caused to men handling such heavy weights, and a proposal was made to settle the matter by < inducing the Northern Steamship ; Company to alter their freight rates in favour of the smaller size, but this seems to have fallen through. 1 - ,' Indian Teas: So far none of the new season's teas are to hand. It is rather difficult yet to forecast whetherit will equal last year s in 1 out-turn or quality. Judging by what little information we have.it seems likely to be only a fair year, with rather a difficulty in obtaining fine qualities. This will have the effect of a slight hardening of prices here on all good to fine qualities in hand. It is not probable that any new seasons will be available for six weeks. . • Ceylon teas are already making a recovery towards : better quality. • This arises from the suitable weather there, and even more so from the greater care taken in'the preparation of the leaf. All had been done last season to produce large quantities, lotting quality take care of itself. The result shows the planters that .their security can only be in greater attention and care in the manufacture, and already improvement is noticeable. One feature with the Ceylon trade is the extreme competition at Colombo from the determination of Russian buyers to get Fanning's at almost anv price. These are for making "brick tea.' Rice, sago, and tapioca are selling fairly well, and as usual there is a good deal of cutting indulged in. Advices from Singapore, dated the 13th June, show sago and tapioca a little lower. ; , _- The Neptune has arrived from South Australia with a cargo of salt, and some cheap lines are being offered for delivery from

ship's side. ... . , Wholesale stocks of Nestle s milk are very Draught whisky is in good demand. The market has been quite bare of Buchanan's House of Commons whisky, but the local agents have been fortunate enough to receive sufficient from a Southern co-agent to last until the arrival of 500 cases due next month. In common with Melbourne and Sydney the demand for this brand has been better since the Royal visit. ' I Fair sales of champagne are reported, Stocks of Pommery and Heidseick had run rather low,' but have now been replenished. Bulldog ale and stout have been in short supply, but stocks are "now in better condition. Dogshead brand is .unprocurable until arrival of s.s. Pakeha due on Friday. Stocks of Wolfe's Schnapps are very low, but there is a shipment on the barque Bella now overdue from Hamburg via the South, an transhipments are expected on Monday ex the Gumford at Sydney. Colza oil is in short, supply, especially in barrels. ": Drums are worth 4s ,6tl. In linseed oil .there "has been a most remarkable rise during the last'few months. We intimated an advance last week in English oil. This was 2£d, and on the top of a rise of 7£d during the previous three months. The Tomoana has discharged her shipment of kerosene, and at last'purchasers have obtained delivery of what they secured in time at 65., Before the vessel arrived the price had hardened, and salos have boe'n made from the wharf at 6s 3d, 6s Bd, 6s 9d, and 7s, according to the time that the bargain was struck. :. Any of these prices will pay the purchaser, as the wholesale price has now advanced to 7s 6d, and from all appearances we are likely to see another kerosene famine unless the Herbert Fuller shows up in Wellington before long. There is, of course, the possibility of importing from Australia, with the risk of the Herbert Fuller upsetting the market in the meantime. The Colonial Oil Company had 10,000 cases on the Tomoana, which has all been ' placed with the exception of a few cases which they reserved for ox warehouse trade, and Messrs. 1 Briscoe and Co., who also had 6000 cases, inform us that practically tho whole lot is sold. At any rate we are quite safo in affirming that the whole 16,000 cases would have gone into second hands direct from the wharf if all orders had been executed in full. In connection with the Borneo oil, it must be remembered that the plant for distributing bulk oil is most. elaborate, and judging by the time it took them to start in Sydney it will bo a long while before they can affect our market. Erecting oil tanks and arranging for the distribution o] oil in bulk is a very tedious thing comparec with dumping out a cargo of cases on the wharf. '' ■';"_ ' '_ ; ' :; _.• ";

Wire has been coming down, but is firmer now. Nails are a shade easier in America. Competition is keeping down the price of bar iron. Benzine is getting short, owing to the strong demand for oil vessels. The candles affected by the change in the price list of the local candle company notified last week, are as follows: Jubilee "Wax are id per. lb lower, Globe Wax and Fluted are id per lb lower. Sperm, mining, and other brands of wax remain the same. Logs are now plentiful, owing to the ample freshes in the creeks.. Export orders are good, both coastwise and to Australia, but a slight diminution in the local demand has been observed, probably on account of the bad weather interfering with building operations. It is thought that there is plonty of work coming on, but both architects and builders are inclined to hold off for better weather, instead of pushing on with contracts. - The flax market keeps fairly steady, bad weather keeping down the supplies. The Australian demand for butter is a little easier, but small lots continue to be shipped. In the local produce market the price of factory butter has advanced, but otherwise the prices are unchanged, as follows: — Factory butter, Is 2d; soparator butter, lOd; best farmers' butter, 9d; second quality, i butter, 8d per lb wholesale. Eggs are Is per [dozen wholesalo.

The following are our quotations of kauri gum for the week ; ending July 23, 1?01: — White gum Poor ~ ordinary, £25 and upwards; fair ordinary, £45 and upwards; bold three-quarter scraped, free from nuts, £7?. and upwards; East Coast, best, £70 and upwards; re-scraped, £115 and upwards. Black gum: Nuts, sifted, £10 and upwards; medium, free from sugar, £18 and upwards; good, £48 and upwards. Remarks on market : Supplies for 23 days of July, 425 tons. The market for all kinds keeps very quiet; supplies are small, but the demand is smaller still. - '■--:. ■■■ -■-■ ___ ' ■ _ ■ .. ■, : LONDON. : By Telegraph.—Press Association.—Copyright, London, July, 24. Tin, spot, £123 10s; three months, £115 ss. ■■■ - . Wool: Good competition for all sorts at prices above rates prevailing at the opening sales. Shares: Australian and New Zealand Mortgage Agency 4£ per cent, debentures, 90. : Wheat and flour afloat for the United Kingdom is 3,030.000 quarters, and for the Continent 1,470,000 quarters. Three Aus- ] tralian cargoes sold at 295. | At the tallow sales 1225 casks were offered and 800 sold. Prices unchanged. The New Zealand Loan and Mercantile Agency Company (Limited) is in receipt of the following cable from its London house: — Wheat Spot quotations have advanced 9d per 4961b since last report. Quotations for New Zealand wheat, new crop, f.a.q., c.i.f., cargoes to arrive, is nominally 28s 6d per 4801b. . Oats: Market firmer. AUCKLAND STOCK EXCHANGE. BUSINESS DONE.—Taupiri Coal Mines (Limited), 18s 6d ; Westport Coal, £4 ; Kauri Timber, contributing, Is 3d. BUYERS. — , New Zealand Insurance, 60s ; National Insurance, 17s 3d; South. British Insurance, 73s ; New Zealand Accident Insurance,' 40s ; New Zealand and River Plate, old, 18s 6d; New Zealand and River Plate, new, 19s 6d ; Northern Steamship, paid up, 17s 9d ; Northern Steamship, contributing, 7s 8d; Hikurangi Coal, 7b 9d; Taupiri Coal Mines (Limited), 18s 3d; New Zealand Drug (£2), 51s 6d; Kauri Timber, contributing:. Is 2d; Leylarid-O'Brien Timber Co. (Limited), 31s ; Avondale Brick and Pottery, 19s 6d ; D.S.C. (Limited), 9s 2d ; Broken Hill, 2d ; Monowai, 2s 7d ; Victoria, 4d : Kapowai, contributing, 7d; Welcome Jack, contributing. Is Id ; Crown), lis 8d ; Komata Beefs, Is lOd ; Star of Waihi, Id ; Talisman Consolidated, ,22s 6d ; Waihi Consolidated, is; Waihi South, 8d ; Waitekauri, 7s 6d ; New Four-in-Hand, Is lOd; Hauraki Freehold, 9£d; Barrier Beefs,* Is 2d. SELLERS:—Bank of New Zealand, 50s; National Bank, 80s; New Zealand Insurance, 62s 6d; South British Insurance, 765; New Zealand and River Plate, old, 19s 6d; New Zealand and River Plate, new, 20s 6d; Auckland Gas,' old, £14 3s; Auckland Gas, new (£4), £11 15s; Thames Gas, 30s; Northern Steamship, paid up. 18s 6d; Northern Steamship, contributing, 8s ; Devonport Steam Ferry, 36s 6d ; Hikurangi Coal, 8s 6d ; Taupiri Coal Mines (Limited), 18s 9d ; Union Oil, 20s ; Kauri Timber, contributing, Is 6d ; LeylandO'Brien Timber Co. (Limited), 32s ; Mitchclson Timber Co. (Limited), 18s 6d ; Kiverhead Paper Mills, 23s 6d ; D.S.C. (Limited), 9.5 6d ; Tonson Garlick Co. (Limited), 18s; Broken Hill, 3id ; Kuranui-Caledonian, Is ; May Queen Hauraki, 6d ; May Queen Extended, 3d Monowai, 2s 9d ; Victoria, sd; Kapowai, contributing, Bid; Welcome Jack, contributing. Is 3d; Chelmsford, 2s; Crown, 12s 4d; Komata Reefs, 2s ; Ohinemuri ' Syndicate. Is; Pride of Waihi, 4d; Rising Sun, 6d; Star of Waihi, 2id; Tairua Broken Hills, 2s; Talisman Consolidated, 245; Union Waihi, 19s: Waihi, £6 ss; Waihi Beach United, 4>d; Waihi Consolidated, Is 4d; Waihi Consols, 4d : Waihi Extended, 3s 2d ; Waihi Grand Junction, 40s; Waihi South, lid; Waitekauri, 10s 6d; Woodstock, 6s; Sailors' Creek, ss; New Four-in-Hand, 2s Id; Hauraki Freehold, IOJd : Barrier Reefs, Is 6d ; Whangamata Gold Corporation, 3s 6d. ' G. A. BATTLE, Chairman. W. H. O. JOHNSTON, Secretary. 3.15 p.m., July 25, 1901. , ' _»___> ■-'■-"".•