COMMERCIAL.

New Zealand Herald, Volume XLI, Issue 12570, 11 May 1904, Page 3

COMMERCIAL.

New Zealand Herald Office.

Wednesday evening. The sharemarkot was quiet to-day. In investment lilies New Zealand Insurances were looked for at 88s 6il, sellers 90s. South British at £6 8s had buyers at £6 6s. Standards were ir inquired for at 17s 3d, no sellers quoting. Other stocks liad fair demand at about recent rates. In - mining lines Waihi Extendeds sold at,2s Bd, , with further buyers at 2s 7cl, sellers 2s 9d. Kura-nui-Catedoniari'si wero looked > for at sd, sellers 6d. ,New Eclipse had • buyers at 6d, no sellers quoting. Fox Komata Beefs Is 4d was offered, sellers asking Is. sd. Waihis wore inquired f6r at £5 lis 6d. sellers £5 17s 6d. Waihi Grand Junctions had sellers at 545, buyers 50s. For Waitekauris buyers were offering Is' Bd, scullers Is lid. In other lines late prices ruled. ' . ' General business continues very fair. ■ There are no further oversea shipments to hand, the next arrival being the Star of Australia now due. The heavy arrivals of a fortnight ago are now taken into store, and general stocks are in a good healthy condition. The first vessel to load at Auckland under tho new contract for the West Coast ports of England has now taken in her cargo of timber for Liverpool and Glasgow, and butter for South Africa, the Suffolk taking her departure on Saturday for Southern ports to complete her discharge from New aork and loading for England. Bookings have ready been made as'far as the Bluff, which will make her a full ship. Under the new contract that has been arranged, there. is every probability that we shall see this line ot steamers calling at Auckland more frequently than the South African steamers last- year, as the- vessels will have to call to discharge cargo from West Coast ports, whether there is a minimum outward cargo offering for shipment or not. Wo have already advised that the Essex left England on May 1, and that the next vessel will be the Whakatane. The grain market is still very full, and the Hawea has arrived with a further general I shipment. The only arrivals of maize since last report have been the Waiotalii with 130 sacks, and tho Mangapnpa to-day. Tho heavy fall in the market lust week has caused growers to hold back their supplies, but there are ample stocks in store here, and tho market remains nominally at 23 Id on the wharf in wholesale lines. If- arrivals continue light for a few weeks all these stocks that are not reserved will work out, but we do not see much prospect of any substantial advance, as all other grains are so very low that any ad» vance in maize would only throw the demand upon other grains whenever possible. The potato market is still glutted, and sales have been made at £2 15s ex wharf, and £3 ex store, prices which leave no margin to importers. Digging is now general in the South, and growers are anxious to clear at once rather than pit their potatoes. Very heavy consignments were coming from Timaru and Oamaru, but these were held back on receipt of news as to', the bad state of this market. This time last year the quotations were £3 f.o.b. Lyttelton, and £2 10s Timaru. It seems that Taranaki has a big crop this year, and is offering at 30s f.0.b., a price that will probably supply Wellington for tho present. They will hardly coino here and I pay the extra charges inevitable at Onehuuga until the canal is made, as there is a preference for Canterbury potatoes at the price. Napier is also offering, so that it is evident there has been a heavy yield all round. All the, Australian markets are full. A few local are offering, but are almost unsaleable. Value may be given . as about £2.. .Kidney seed are now beginning to be inquired for. A correspondent in Invercargill reviews the oat- harvest, and the situation thus:—"'The weather during the early part the harvest was excellent, but-towards the later stages was wet and boisterous. Tho unpropitious ending to a harvest that was expected to be a record one in regard to prime samples was unfortunate, more especially as values even for prime oats aro not all that could bo desired. However, it was fortunate that a number of farmers succeeded in securing their grain before the broken weather set in, and a fair quantitity of the grain coming to hand is in excellent condition. Our market since the commencement of the new season has been anything but satisfactory, and very few sales of f any magnitude have been effected. Our North Island trade has so far been responsible iof most shipments, and some fair business has been done in B grade at up to Is 7id, and good Danish at Is 6id fobsi. A small inquiry his been coming to hand from Australia, but in the face of Tasmania offering good white oats- at Is 9d aboard, very few sales of New Zealand oats can be recorded.' • There have been some offers- made for B, delivery spread over five months, 'but: the price of Is 6d aboard here has not; tempted sellers. It is evident that the Tasmanian crop of white oats will soon be exhausted, and as Algerians are not suitable for purposes excepting feed we fully expect to see some fair business being done with Australia later on in New Zealand stout oats. Some transactions are pending with South Africa, !and before long some decent sales, should be effected for shipment to above country. One sale has • already been recorded at 5s 9d cifsi per, 1001b., being equal to Is 7id fobsi. It is now known that a South African firm has a large contract on hand for supplying oats, to the mounted police; should stocks become exhausted in Australia, then New Zealand would have to supply, and prices ■ would go up accordingly. We cannot see how prices are going to come much lower, as the least inquiry coming to hand would immediately excite tho market, with the result that values ell round would harden. The average price of B, oats fobsi for the past six years works out at Is lOd per bushel, so it is proved that present market value of Is 7d fobsi is much below average market rate." "" : There is no change in the oat market locally. The heavy stocks are .working out to some extent, but there are still plenty for present requirements. The market in the South has been helped by buying for the Aotea, which has now left Timaru, taking oats at 20s per ton, and wheat at 15s. The Kiimaru is coming on, and buying for this vessel keeps the market firmer that the parity of local prices, so that it is at present impossible to imnort at a profit. A few Duns and White Tartars are selling for seed, as these are superior kinds for chaff, providing they resist the rust. For this contingency Algerian are selling rather freely, a good recleaned sample being worth 3s ex store, but this variety is acknowledged as not a first class chaff oats. ' . Oatmeal is selling very well, the colder weather bringing a much better demand. • Some millers have been rather.behind in supplying their orders; ' ■ Fowl wheat is offering at 2s lid ex wharf in lines for delivery from the Hawera, which is a decline on last week's rate". In Southland milling samples are scarce, and'any good mixed lines offering are taken up by millers at 2s lOd on trucks, ; country stations. Fowl wheat is in fair supply there and can be quoted at 2s 7d f.o.b. for prime lines. The usual sales of flour are reported, but the market is not very brisk. ' ... A small supply of pollard has arrived, but this lias been .snapped up, , and pollard is now again almost unprocurable. The colder weather has began to cut, off grass, and the smaller supply of feed now obtainable has increased the demand for bran, which has not been in much request during the autumn. _ With reference to barley it is reported in the South that in the absence of buyers, the market is lifeless; prime samples are scarce, and worth 3s lid f.o.b. for prime malting, but feed lines are offering freely. Canterbury onions are about done, and this carries out the earlier reports that the crops would be light. Tho quality has not been up to previous seasons. Tho Zealand la brought 100 gunnies shipped from Melbourne, and as there are heavy crops in V ictoria it would seem that, there is not much prospect for imports of 'Frisco onions this year, Melbourne already quoting for August and September delivery. , Arrivals of chaff have not been too heavy, and demand is very strong. The market is a little firmer, and prime Canterbury is sellin!,' at £4 10s ex wharf, and £4 15s ex store. The Hawea brought more this, trip, whereas last trio there was a good shipment, but some of this is still held in store, being mferioi quality. . ... Bonedust and other manures are in bettor inquiry for root crops. Potato planting will soon be in full swing. Cabled advices this week from London show currants much firmer. Local stocks aro not very heavy, and holders are now asking full rates after selling at very unprofitable prices for some months. We are advised by mail that the production of sultanas last summer amounted to the record figure of about 55,000 tons. Total shipments aro estimated at. about 48,000 tons, leaving some 7000 or 7500 tons in the country, the bulk of which is low grade quality, only suitable for distillery purposes. Prospects for next season cannot be reliably gauged as yet, but present estimates of the probable production vary between 33.000 and 38,000 tons. Locally all fruits are in better demand now that fresh fruit is becoming scarce.' Figs and Carton dates are selling more freely. _ ' Advices have been received from London by cable of an advance in tin plates, and the market is now firm with an upward tendency. A further slight advance in German wire nails is also notified. ,- . With regard to the general metal market it is statecf in London that the position has rather improved, though to some exent it I linv be artificial. 'Hie German syndicate of, steel works, has without doubt had some i effect in raising values, and the Americans J

do ■ not seem disposed > to continue to -cut prices, for export as they were recently doing. The latest reports from U.S.A. come strange. At Home the shipbuilding industry shows signs of some improvement, and this has helped the Scottish steel makers to effect their combine. Pig iron has been decidedly stronger, specially for Middlesbro'. J-ho scarcity of warrants Kelps the upward movement, in addition to-which the spring demand is at hand, and;consumption is fairly good. Manufactured iron does not show much life. Makers have difficulty in keeping . ! their mills running, and the outlook is not very encouraging. The demand for sheets has improved, but prices all round aro low. In steel thofe hfts betfttra considerable amount of buying in anticipation of values being raised. The recent advances are well main-, tained. Copper is distinctly firmer on both sides of the Atlantic. Consumptive demand is. good, and stocks are moderate. Tin has been active, and values have steadily advanced. This is principally duo to an improved American demand, also to some extent, to the firmer tone in the East. Eastern producers did not fully respond to the recent i downward tendency - on the London Exchange, and their attitude has had a strengthening influence, on values. The value of lead continues to bo well maintained. Some- efforts were made to depress prices by relatively low quotations for forward delivery, but the market readily absorbed any parcels offering, and the scarcity of suppliers is male-1 mg operators cautious. Consumers who have been holding off for some time are understood to bo bare : of stock, and must ' soon be in the market as buyers. Holders therefore are not anxious < sellers, and are only i realising at full prices. , While most of the metals aro firmer in tone spelter ' ha's lost I slightly in values. There is a fair demand ; from galvanisers. but smelters appear willing | to meet buyers' offers. Castor oil is weak in Calcutta. • Kerosene is now being offered to arrive by the Fratclli Beverino, due about the ond of this month. Agents advise an advance of Is per case in Highland and Capstan milk. Local stocks were rather light, until arrival of the Hawea this week. The fire at the factory has not interfered with shipment. In the local dairy produce market we have no changes to report.' Butter is in full supply, but it- has been noticed that this demand is also improving. Eggs aro scarce, and find a ready sale, both fresh and preserved. A few suppliers are still very foolishly mixing the two descriptions, and of course get the bottom price for the lot. AUCKLAND STOCK EXCHANGE. The following are Tuesday's closing prices, the business done beingWaihi Extended, Us Bd. < Sellers. Buyers. BASKS- £~ d. £ 8 . d. New Zealand m .« 411 0 _ INSURANCE— ' New Zealand ... ... 4 10 0 4 8 G National '■■..*■ ... 12!) , South British ... ... 6 8 0 6 C 0 Standard _ 0 17 a FINANCIAL— N.Z. , and River Plate, old 1 5 G 14 3 N.Z. and River Plate, new 1 5 G 1-43 COAT— . . > . Hikurangi ... ... ... 011 9 ; Tauplri .u.nes, Limited ... 018 4 • 017 10 GAS— Auckland •' ... ... 14 0 0 ' 13 15 0 SHIPPING— Dovonport Perry ... ... 117 0 1 16 0 TIMBER— ' . ' ~. . Kauri, paid up ... ... 0 13 6 0 13 0 ? Kauri, contributing ... •' 0 310 i 0 3 V Leyland-O'Brien, Limited... — ■ 1 IG t» Mitchelson Co. ... ..." 015 0 Mountain llimu, Limited ... 1 3 6 . 12 0 MISCELLANEOUS™ , , "> D.S.C., Limited ... b , 012 2 — MINING— Kuranui ... ... ... 0 0 3; — Kuranui-Caledonian . ... 0 0 G 0 0 5 New Eclipse ..1 ... — 0 0 6 Old Albumin ... ... 0 0 9 — . Victoria , ... 0 0 3 i — Golden Belt; paid up . ... 0 3 3. — . Golden . Belt, contributing 0 2 7. — " Komata Beefs ... ... 0 15 0 14 Tairua Broken Hills ... 0 3 0 — ' Talisman Consolidated ... 0 5 0 o—4 V Wniht ... ... ... ... 6 17 G & 14 G Waihi Consolidated ... ... 0 12 0 10 1 Waihi Consols ... ... 0 0 3 ( Waihl Extended ....... 0 2!) 027 Waihi Grand Junction ... 214 0 310 0 Waitekauri ... ... ...' 0 IIX 0 18 Bunker's Hill ... 0 10 — : Hauraki Freehold ... ... 0 0 4 0 0 3 Harbour View ... ... 0 0 3 — G. A. BUTTXJS, Chairman W. H. O. Johnston, Secretary. 3.15 p.m., May 10, 1901. CALL AND DIVIDEND LIST. / Calls. Due. New Una G.M. Co., April 53 ... 0 0 1 May 16 Golden Spark G.M. Co., April 23... 0 0 0J May XX May Queen Extended, May 3 ■ ... 0 O X May XX Manukau S.S. Co. (final) ... — May 2-3 Pride ot Walhi, May 2 ... ... 0 0 1 May 30 Dividends. Walhi G.M. Co „. ... 0 2 6 June , 1

Mount Lyell Mining and Railway , 0 13 June 10 THE FKUIT MARKET. At the Auckland fruit markets' to-day very little local fruit was sent forward, the supplies being almost entirely from Nelson, Wellington, and Christcliurch. So tar as apples and pears were concerned, there was no change" in the values realised since last. Friday. ■' ' STOCK AND PRODUCE. SEW ZEALAND MAS AND MERCANTILE AGKNCt COMPANY'S, LIMITED, REPORT. Horses: At the Durham Yards on Friday last we had an average muster of horses entered. Heavy draughts sold at from £28 to £42; medium do., £21 10s to £33; light harness, £G 10s to £20 ss; hacks, £5 153 to £18; weeds, £1 15s to £3 17s 6d. , Cattle: At the Newmarket Yards on Tuesday there was- an average muster of dairy and store stock yarded and a full muster of beef. Dairy cows sold at from £1 15» to £8 sa; empty do., £2 17s to £4 9s; , calves, £1 13» to £2 lis. Fat steers, of which there was some excellent quality yarded, sold op to 23s per lOulb; cow, 19s to 225. Steers sold at from £6 10s t6 £11 7s Cd; cows, £4 10s to £7 12s 6d. A draft of 31 steers from Messrs. Reed Brothers, Waerenga, averaged £10 7s 3d. Sheep: The Newmarket Yards were well filled on Tuesday, and sheep of all descriptions met a ready sale. We quote wethers at from 12s Od to £1 !2s 3d; ewes, 10s &d to 17s 3d. Lambs, yarded in full numbers, sold at from 7s Cd to 15s Cd Pigs were yarded in overage numbers. I'orkers sold at from 13s 6d to £2 Is; weaners, 8s Gd to 17s Od. On Wednesday, at Papakura, there was a pood muster of stock of all descriptions, and competition was good throughout, prices being in favour of the vendor. Dairy cows sold at from £4 10s to £8 15s; empty do., £2 173 to £4 8s; calves, £1 15s to £2 8s; heifers, forward in calf, £4 5s to £5 ss. The advertised grown steers sold at from £5 12s Gd to £7 Si. We submitted an average catalogue of hides and skins on Tuesday. , Hides : Same as last week. We quote :—Prime ox, none offering; extra stout do., 7d to 7Jd; stout do., tijd to Gjd; medium do., 5Jd to Cd; light do., 4Jd to sid. Cow—Best lines, 4|d; good, 4Jd to 4Jd- Stag?, 2jd to 3Jd. Calfskins, 5d to Old; cu% 3Jd to 3j[d. Kip, 4d to 4Jd.' , Sheepskins: Market easier. Best butchers' skins, 2s 8d to 3s 4d; best country do., 2s 6d to 3s; small and damaged, Is to Is !)d. Tallow: Market easier. Broken casks and packages, lGs 3d to 20s; rough fat, lid. Bones, £5. Cowtails, Is' 5d dozen. Horsehair, Is Id to Is 2Jd. Wool: Crossbred, 5Jd to 6}d; cotts, 4}d to 4Jd; lambs, 5Jd to 6Jd; pieces, 2Jd to 3Jd; locks, 2d to 3id. Maize: Market is again a shade firmer, and primo is selling at 2s 2d on wharf. . Oats: Dull of sale, best lines being worth Is lOd on wharf. Chaff: Firm at £4 10s on wharf. Potatoes: Market overstocked with both Southern and local. Sales have been made at £2 15s on wharf for former. . , ■ Butter: Not quite so plentiful. Gdod lines always in 'demand from 7d to B.}d. A large proportion of farmers' sent in is o£ very mediocre quality and is hard to quit. Cheese : In better demand. Prices remain about same. Stocks fairly heavy in colony. DUN EDI N" STOCK EXCHANGE. Dunkdin-, Tuesday. Stork Exchange sales: Electric, 355; First Chance, 12s, lis Gd; Hartley ami Riley, G.'is, Gls; New Alpine Consols, 10s 3d, lGs; New Bendigo, 18s. LONDON WOOL SALES; By Telegraph.—Press Association.— London, May. ;i. On the wool market prices are unchanged, but ihe Continental buyers are active. •