COMMERCIAL.

New Zealand Herald, Volume XXXVIII, Issue 11734, 16 August 1901, Page 4

COMMERCIAL.

e»- '— New Zealand Herald Office, Thursday evening. Although business is still quiet on the Stock Exchange prices in some cases show a slight improvement on lato quotations. Banks aro dull of sale. Nationals are offered at £3 163. New Zealands are much weaker, and are offered at £2 2s, but we understand that sales have been effected below this quotation. Insurances show a considerable improvement. New Zealands are firm, with buyers at £3 4a, with no declared sellers. South British sold at £3 15s, £3 16s 6d, and £3 17s, and closed with buyers at the latter price. There are buyers of Nationals at 18s 9d. Accidents have advanced, buyers offering £2 2s 6d, with sellers at £2 ss. In gas stock, there are buyers of Auckland, fully paid, at £13 2s 6d. In shipping Dovonport Steam Ferry sold at £1 16s 6d. Buyers now offer £1 16s, with sellers at £1 163 6d. Northern Steams are unchanged. In local coals Hikurangis sold at 8s 3d. and there are sellers at 8s 6d. Taupiri Mines are offered at 18s Id. Sellers of Westports ask £4. In timber shares Kauri Companv, paid-up. are wanted at 6s 6d, sellers asking 7s 6d. Sellers of Kauri Company, contributing, ask Is 6d, with buyers at Is 3d. Leyland and CTBrien s sold at £1 2s 6d, and there aro sellers at £1 13s and buyers at £1 12s. There are sellers of Mitchelson Company at 19s. "Union Oils sold at 19s 9d. Avondale Brick and Pottery sold at £1 Is, and there are buyers at £1 Os 6d. There are buyers of Riverhead Paper Mills at £1 Is. D.S.C.'s sold at 9s 3d. The market for mining stock is still quiet. Waihi Extendeds sold at 2s lOd. 2s 9d, and 2s 8d; Tairua Broken Hills at 2s and 2a Id; Talismans at £1 4s 6d; Victorias at 4d, s|d. and 6d: Barrier Reefs at Is 5d and Is 6d; Talisman Consolidated sold at £1 4s 6d. General business continues rather easy, with a noticeable slackness in many departments. The weather is decidedly against people getting about, and that means that there is less money being spent, and the different branches of trade aro so dovetailed into each other that any adverse condition in one is sure to be reflected to some extent in another. Fortunately the reverse is also true, and given a few fine days the people will be moving about in thousands, making all the retail shops veritable hives of industry. This activity is always felt at once in the wholesale trade, not so much on account of the actual necessity for replenishing stocks sold out as on account of the confidence given by the sight of the volume of trade passing. After all, confidence is the mainspring of commercial activity. In produce the general tendency is still upwards, except in maize, which has'declined a penny, owing to the arrival of the comparatively large quantity of 1250 sacks by the Waiotahi and Waimana, and sales have been made as low as 23 4d in wholesale lines. At the same time old grain is sold at 2s sd, and a good sample of new is worth the same money, but the fear of some samples not keeping has induced holders to quit at the reduced figure. Potatoes are firmer in the South, owing to the improved prospects of the Sydney and Melbourne markets. The Waikare brought only 300 sack;?, and some of that was seed, so that the wharf price is a little higher. At the same time we are still below the basis of Southern prices, where sales are reported up to £5 10s f.0.b., and as the heavy local stocks are being rapidly reduced the market has strengthened. Oats are decidedly firmer, owing to the extensive orders for South Africa, and news is expected in a day or two which is likely to show the market in a still better position, owing to the booking of further contracts. As there is a difficulty in getting sufficient for shipment the market is likely to keep very strong for the next few months, until the spring threshing commences. Tho advance this week i? equal to 2d a bushel, and there is a difficulty in getting orders filled in the South, even at this advance. Fowl wheat is higher again, and the steady appreciation of wheat and oats will have the effect of keeping the maize market firm. Bran is scarce, and has advanced 5s per ton. Good quality chaff is rather scarce. Pearl barley has advanced £1 per ton. Small sizes of cheese are getting more difficult to secure, some factories being right out. Large sizes are fairly plentiful. Keg butter is very scarce. A few sales of cornsacks are reported, but business is restricted to actual requirements. Rice maintains the recent advance, confirmed by later cables, and fair sales are reported. Linseed pil holds its own, but castor is a little weaker. There is nothing new in kerosene, as the Colonial Oil Company aro keeping the mar- ■■ ket supplied with Sydney oil until the arrij val of the Herbert Fuller, now on the way from Wellington. Sales to arrive are being made at 7s ex ship, and the present wholesale price remains at 7s 6d. White lead is a little easier. The heavy metals in general are firmer at Home, and tho local market is now respond- | ing more readily to the advances reported. Iron is hardening. Copper is weaker. Tin is firmer, consequently tinplates. _ Local canning factories are adding fresh lines to their manufactures, and tho representatives of the Whangarei Factory aro using every endeavour to introduce their good? into this market. The canning of whitebait is also being started on the Waikato River. Dried fruits are selling well. Currants art easier, and some of the samples now being offered are not up to standard. Australian lc-xias continue to sell fairly well, and American seeded raisins are also in good demand Figs are scarce. American evaporated fruit; are in regular demand now that fresh fruit is scarce. Local dried apples are getting more popular now that the quality is up tc the American standard. A shortage is reported in stocks of English bottled ale and stout. Importers are entering into contracts foi the season's supply of salmon. The general range of prices is lower than last year, but tho market is strong and promises well foi those who have bought. Kippered herring: are scarce, also some brands of red herrings, especially in small tins. Some thought is being given to the possibility of the Government " ro-arranging" the Customs tariff. This is always a vexed question, and causes annoyance whether the rates aro raised or lowered, so that the, Ministry should always think well before touching it. The Premier may think it clover statesmansnip to give hints about the tariff which he liM no intention of carrying out, and to treat tins important question affecting the commerce of the colony just as if the Treasury were his own private properly; but our opinion, as we have before pointed out, is that he should recognise tho fact that anv needless dabbling in finance necessarily makes capital more frightened, and it is the

duty of the Government to encourage tTie investment of capital rather than to prevent its profitable employment. When the news was first published that our experimental Government wore again going to re-arrange the tariff, the opinion was freely expressed that possibly it was only a ruse to inflate the Customs receipts for the month, but merchants believe in being on the safe side, and this year have provided for what looks like a contingency, by passing from bond all articles on which the duty is likely to be raised. In the local produce market there lias been a scarcity of factory butter for the last few clays, and a difficulty has been experienced in filling orders. The improvement in tho weather will soon increase the supply. Prices are as follows: Factory butter, Is 2d; separator, lOd; best farmers', 9d ; secondclass, Od per lb wholesale. Eggs are 7d per dozen wholesale. • KAURI GUM~MARKET. The following arc our quotations of kauri gum for the week ending August 12, 1901: — Whito gum: Poor ordinary,, £25 and upwards; fair ordinary, £45 and upwards; bold, three-quarter scraped, free from nuts, £72 and upwards; East Coast, host quality, £70 and upwards; re-scraped. £115 and upwards. Black gum: Nuts, sifted, £10 and upwards; medium, free from sugar, £13 and upwards; good, £48 and upwards. Remarks on market: Supplies for 12 days of August, 195 tons. A good deal of gum has changed hands during the past week at about same price as were previously ruling. LONDON. By Telegraph.—Press Association.— London, August I*. The total amount of wheat and flour afloat for tho United Kingdom is 2,930,000 quarters, and for the Continent 1,950.000 quarters. A Victorian cargo sold at 28s Bd, and 9000 quarters of Victorian by sailing ship, AugustSeptember, at 29s 6d net. Tallow: 2225 casks were offered, and 1675 sold. Mutton— 23s 9d; medium, 275. Beef: Fine, 28s 3d; medium, 275. . Silver is 2s 213-16 d per oz. Bank stocks: Panic of Australasia, £80; Bank of New South Wales, £42 ; Union Bank of Australia, £38; National Bank of .New Zealand, £3 10s; Bank of Now Zealand fours, £101 10s; New Zealand Loan and Mercantile 1 per cent, prior lien, 79. AUCKLAND STOCK EXCHANGE. BUSINESS DONE.— British Insurance, £5 17s; Thames Gas, £1 ss; Victoria, sd; "Welcome Jack, contributing, Is Id; Talisman Consolidated, £1 4s 6d. BUYERS.—New Zealand Insurance, 645; National Insurance, 18s 9d; South British Insurance, 775; New Zealand Accident Insurance, 42s fd; Auckland Gas, old, £13 4s; Northern Steamship, contributing, 6s; Devonport Steam Ferry, 365; Kauri Timber, paid up, 6s 6d; Kauri Timber, contributing, Is 3d; Ley-land-o'Brien Timber Co. (Limited), 325; Avondale Brick and Pottery. 20s 6d; Riverhead Paper Mills, 21s; D.S.C. (Limited), 9s 2d; Broken Hill. 2£d; May Queen Hauraki, sd; Victoria, 4*d; Kapowai. contributing, 7d; Welcome Jack, contributing. Is; Crown, lis 7d; Komata Reefs. Is 4d; Tairua Broken Hills, 2s 3d; Waihi, £5 17s 6d; Waihi Consolidated, Is 2d: Waihi Extended, 2s sd: Waihi South, 9£d; Waitekauri, 9s 3d; New Four-in-Hand, Is Bd. SELLERS.—Bank of Now Zealand. 425; National Bank. 765: New Zealand Insurance, 665; South British Insurance, 78s 6d; New Zealand Accident Insurance, 455; New Zealand and River Plate, old. 19s 6d; Auckland Gas, old. £13 8s; Northern Steamship, paid up, 18s 6d; Northern Steamship, contributing. 8s 3d; Devonport Steam Ferry, 36s 6d; Hikurangi Coal, 8s 6d; Taupiri Coal Mines (Limited), IBs 3d; Westport Coal, 80s; Kauri Timber, paid up, 7s 6d; Kauri Timber, contributing, Is 6d; Leyland-O'Brien 'limber Co. (Limited), 335; Mitchelson Timber Co.. 19s; D.S.C. (Limited), 9s 6d; Tonsori Garlick Co. (Limited), 18s; Broken. Hill, 31d; Kuranui-Caledonian, Is; May Queen Hauraki, 7d; May Queen Extended, 2d; Monowai, 3s; New Whau, 2d; Victoria, s»d: Kapowai, contributing. lOd; Welcome Jack, contributing. Is 2d; Chelmsford, Is 9d; Crown, 12s 6d; Komata Reefs, Is 7d; Maratoto, 3d: Ohinemuri Syndicate. Is; Rising Sun. 6d; Tairua Broken Hills, 2s sd; Talisman Consolidated, 255; Waihi, £6 "<<: Waihi Beach United, 6d; Waihi Consolidated, Is sd: Waihi Consols, 4d: Waihi Extended, 2s 8d; Waihi Grand Junction, 38s 6d; Waihi South, lid; Waitekauri, 10s Gd; Woodstock, 5s 9d; New Four-in-Hand. 2s: Hauraki Freehold, 9d; Barrier Reefs, Is 8d; WTiangarnata Gold Corporation, 3s. G. A. BUTTLE, Chairman-? W. H. O. JOHNSTON, Secretary. 3.15 p.m., August 15, 1901. CALL AND DIVIDEND LIST. Calls made. £s. d. Date. Maratoto, August 9 ... 0 0 1 Aug. 20 Waihi Extended, July 5 ... 0 0 1 Aug. 26 New Whau, August 13 ... 0 0 01 Sept. 11 Waihi Consols, August 14 ... 0 0. 1 Sept. 11 Dividends: New Four-in-Hand, 3d Now. Hikurangi Coal. 10 per cent per annum ~, ~. Now. Union Bank of Australia. £1 Now. New Zealand Accident Insurance Co. Now. Waiotahi, Is Now.