COMMERCIAL.

New Zealand Herald, Volume XXXIX, Issue 11955, 2 May 1902, Page 4

COMMERCIAL.

New Zealand Herald Office. Thursday evening. There his been a quiet market on the Stock Exchange during the past week, with about the usual amount of business. There has been no business reported in bank stock. New Zealands are weaker, with sellers at £3. In insurances New Zealand.? have been in I strong request, and show a good rise, sales taking place at £3 lis, ' £3 13s 6.1, and £3 14s &d, dosing with buyers at .€3 14s anil sellers at £3 153. South British sold at £+ 2*. and there are sellers at £4 3s. Nationals sold at £1 Is. In gas stock Auckland, fully paid, are wanted at £14. New issue sold at £12 17s- 6d, and there are sellers at £13. Uisborne Gas sold at £1 12s, and mora are wanted at the same price. In coals there are buyers of "Westports at £4- 9s and oi Hikurangis at Bs. In shipping Northern Steam, contributing, sold at 7a 6d, and there are buyers at 7s 4d and sellers at 7s Bd. In timbei LeylandO'Brien Company are wanted at £1. 12s, sellers ask £1 13s oil. D.S.O.'s sold at 9s 7d and 9s 3d, and there are buyers at 9s 6d and sellers at 9s Bd. In the mining market attention lias been given to one or two stocks only. There has been a large business in Tairua Broken Hills, with considerable advance in nriee since last week, sales being effected i from 7s 3d to 10s 6tl to 9s 4t] to 10s 3d. -May ' (Jueen Kxtendcds sold at 3d; Waratotos at i M; Komata Reefs ut Is 2d; Kiiranuil at 6id and 6d, and New Four-in-Hands at 7£d. General business continues very good this week. The town trade is no doubt being : largely kept up by the amount of works of a public- or semi-public nature that have been carried on in the city of late, while in the country there are also distinct traces of the increased spending power of the farmers, owing to the development of the butter intliutry and the better prices for produce in general. The total arrivals of maize since last report amount to 2371 sacks, of which a. large proportion was hardly fit to ship, whereas last week a good deal was in beautiful condition. Australian orders were again in, but as they were in sonic cases on the understanding that the price must be below 3s 6d shippers were unable to operate, and the 836 sacks that went in the Zealandia represent previous tales to Sydney that were already bought in the Bay of Plenty, and could not be got up earlier. The Sydney market is a little lower again, but the local demand is sufficient to absorb the supplies for the present, and it is estimated that there are only about 5000 sacks of old left. The first of the newcrop will probably be here in a fortnight, but generally great care has to lie taken in laying in stocks of new. The price remains at 3s 6d on 'he wharf foi wholesale lines, at which the market closes weak. Potatoes are very firm in the South, and farmers do not foci disposed to .sell. The ruling price here is from £5 5s to £5 10s on the wharf, up to £5 15s ex store, and the market is now well supplied, some 1300 sacks being landed by the Zealandia. Many of these have already been placed, hut we may now expect mora regular supplies. Local potatoes are also very plentiful, being offered at the station up to £4 10s for really prime Derwents, which are being sold ex store at £5. The quality is rather irregular, and there is no doubt that many prefer to give the extra price for Canterbury*, as many of the local are only fit lor pig feed. The local market is better supplied in many lines of produce by 'he arrival of the Otago and the Kinclune, the latter arriving on Sunday after :iu exceedingly smart passage. Oats are in better supply, but the bulk of those to hand were already &j!d to arrive for delivery ex wharf. The market is very btrong in the South, as high us 2< 9d f.o.b. being asked by some holders. The local price has advanced one penny since last week. As announced last week Southern oatmeal had advanced 20s per ton, and the price of the locally-made has since been raised 10s, making it £15 103 per ton in 251b bags. ■* The Sierra lias brought a large Quantity of California!! flour, in bags of 1001b and 501b, and nominal weights, which is being sold at £11 per ton. Manitoba is still selling at £11 10s, and the price of local remains at £11 5s in sacks. Bran and sharps have both advanced, but the quotation for the latter, which appears in another column, must be taken as nominal, as large supplies cannot be procured. J

Split peas and pearl barley, are both very firm. •• * Onions hart- made a very decided advance in the South, but the quotations there are very erratic, ranging from £6 10s to £8 ss. The local price is about £3 ex store, rr.it this may be taken as nominal, a3 it would cost that much to land from the .South, and holders of locally-grown are now demanding higher rates also. Chaff is in keen demand, and is worth £5 per ton at the station, £5 10s ex store. A report on the Calcutta' jute market up to March 22 describes the position for early delivery in favour of sellers, as prompt goods are scatee, while there has been a fairly good demand. For the second half of the year mills will not meet buyers at the old equivalent':, i>nd in some instances have already got an advance. The principal buyer for prompt is Burroah, and the United Kingdom and the Continent have at last shown more inclination to operate at the advance. The strongest feature in the market is that only a limited number of mills are accepting current, rates, the others preferring to wait. Within tho next few weeks the jute crop prospects will play uu important part in diipoting the course of the marker. The castor oil market has been very quiet in Calcutta, but prices are now firm, owing; to small production and light stocks. Sellers are well sold, and offerings are very small, i On the other hand, seed prospects are good, so that tho market is difficult to foresee. j

Kerosene continues to sell at the Colonial Oil Company's price, 63 4c! ex store for any quantity wholesale. Singapore reports under date March 15 that although supplies of white pepper arliving and expected continue on a- small scale the high values of the previous month have not been maintained. The rise was due to speculation, and it was much overdone. It. is reported, however, from Sarawak that the coming crop has been damaged by heavy rains ami floods, but no reliable information has yet been received as to the extent of the damage. This may prove of considerable importance later on. The market in sago and tapioca shews uo signs of improvement, export demand being light. Mace and nutmegs are both lower. Wo are informed that t-'O whole of the Island rush hats to arrive from Rarotonga have already been sold. Walnuts are arriving from the South, and the sample is turning out good. Canned Fruit: Advices by the Sierra show that tho market in California is quiet. " Canncrs seam to he anxious to clean up prior to the opening of the new season, apparently meeting with but little success. The outlook for the coming crop i?,, sc far, splendid, and indications point to a largo yield of all varieties. Sugar and tins are somewhat cheaper this year than last, and if the present promising crop prospects are fulfilled, lower prices will probably prevail for the new pack." The advance in American freights ha a caused local firms to ask higher prices for wire. Benzine is in very short supply here, in the South, and also in Australia. . Sales were made hero only a short time ago at is 3d, but it is now worth 2s Id. Local firms aro at last asking the advance in turpentine that we noted some weeks ago. Ceylon desiccated coooanut is much firmer. Tho latest cable from the Agent-General shows the flax market depressed in London, and numerous cabled offers from local homes . this weak failed to meet with any response, so that buyers there aro evidently holding off. Of course, the price quoted by the AgentGeneral does not represent the value landed ill Loudon, but the price at which it is sold to manufacturers. Local holders would be very glad to get the. £35 quoted in London this week. As regards the local market we do not anticipate any substantial decline in value, as the bad weather is keeping back supplies, and the winter is still before us. Our price list in another column shows an advance of 6d per 100 ft in the prico of all timber, duo to the causes which we stated last week. Cheese is very firm here in accordance with the stronger tone of the London and Australian markets. Large quantities are being shipped from here, the latest being for transhipment to the Kum&ra. In the looai dairy produce market the price of butter remains unchanged, as follows: Factory, Is to Is Id, according to brand; separator, 9d and upwards; farmers', 8d and upwards; second quality, 7d. Ei?ga remain as last week, Is 6d wholesale. Wo may mention that there are again complaints of the trouble caused by preserved eggs be- | ing mixed with fresh. It is very foolish for suppliers to do this, as they would get betI tor returns by selling the two kinds as such, getting the top of the market for fresh. By mixing them it only means that dealers have to treat them all as preserved. KAURI GUM MARKET. The following are our quotations of kauri gum for the week ending April 28, 1902: — White gum: Poor ordinary, £"62 and up- | wards; fair ordinary, £52 and upwards; bold, three-quarter scraped (free from nuts), £80 and upwards; East Coast {good quality), £75 and upwards; re-scraped, £120 and upwards. Black gum: Nuts, £12 and upwards; medium (free from sugar), £18 and upwards; good, £55 and upwards. Remarks on market : Arrivals for 28 days of April, 700 tons. The market is quiet, but steady. GROCERS' MARKET QUOTATIONS. The following t«ro the quotations for butter and eggs for the week ending May 8, 1902, as fixed by the Auckland Dairy Produce Committee:— butter, Is and Is Id per lb; separator butter, 9d per lb; farmers' butter (lie.it), 8d per lb; farmers' butter (second quality), 7d per lb. Eggs, Is 6d per dozen. LONDON. London, April 39. Copper: Spot and three months, £52 ss. Tin: Spot, £129 ss. At the tallow sales 1250 casks were offered and 500 sold. 'Mutton : Fine, 37s 6d ; medium, 32s 6d. Beef: Fine, 345; milium, 31s. AUCKLAND STOCK EXCHANGE. BUSINESS Bone.—New Zealand Insurance, £3 13a 6tl, £3 14s 61I: D.8.C.. Limited, 93 8d; '['aima Broken Hills, 10a 3d; Sew Faur-in-liand, 7Jd. Buyers.—New Zealand "Insurance, 745; Standard Insurance, 16s 9d; New Zealand Accident Insurance, 255; HikfirarsfU Coal, 8s; West-port Coal, 89s; Auckland Gas, old, £14; Gisliome (.las, 32b; Northern Steamship, contributing, 7s 4d; Leylainl-O'Briori Timber Co., Limited, 325; JJ.S.C., Limited, 9a 6d; Milne and Clioyce, Limited, preferential, 228 6d; May Queen Extended. 6Jd; Monowai, 2s; Welcome Jack, contributing, 2Jd; Crown, lis; Koimita Reefs, Is Id; Maratuto, 7d; Tairua Broken Hills, 10s 2d; Waihi Beacli United, 2£d; Waihi Extended, la 10d; New Fonr-iu-Iland, 7d ; Royal Oak of Ila-uraki. 9(1. Sellers.—Bank of New Zealand, 60s; New Zealand Insurance, 75»; National Insurance, 21s; (south British Insurance, 83s; New Zealand Accident Insurance, 26a 6d; Ilikurangi Coal, 8s 6cl; Auckland Gas, now (£4 10s), £13; Northern Steamship, contributing, 7s 8d; Devon port Steam ' Ferry, 425; Leyland-O'Brien Timber Co., Limited, 33s 6d; Mitchelson Timber Co., 17»; Avondale Brick and Pottery, 22s 611; D.8.C., Limited, 9s 3d; Broken Hill, 3d; Kuranui, 7d; Kai-Ca 1 edliian, lOd; ilay Queen Hauraki, 7d; May Queen Extended, 8d; Monowai, 2s 4d; Waiotnhi, 255; Welcome Junk, contributing, 4d; Te Puke Gold Reefs, 2s fid; Crown, lis fid; Komata Beefs, Is 3d; Maratoto, Sd; Itising Sun, sd; Tairua Broken Hills, 10s fid; Waihi, £5 15s; Waihi Beach United, 4d; Waihi Consolidated, sd; Waihi Consols, 2d; Waihi Extended, 2s; WaiUi South, 6d; Waitekauri, 4s fid; Woodstock, 2s; New Fonr-in-lland, 3d; Itoyal Oak of Ilaurafci, Is. G. A. BUTTI7E, Chairman. W. H. O. JOHNSTON. Secretary. 3.15 p.m.. May 1, 1902.