COMMERCIAL.

New Zealand Herald, Volume XLVIII, Issue 14714, 23 June 1911, Page 5

COMMERCIAL.

Tub Stock Exchange was closed vestcr,aV on account of Coronation Day, and reopens this morning. Business in iho wholesale groceries is not. nuito so active as it has boon, but this is only expected to bo temporary. Wholesale hardware houses, however, report matters (is satisfactory. I'' lo wharves during tho week ], a vo been fairly active with usual intercolonial, Southern, and oversea steamers discharging and loading.

Rice: The advance lately notified in this article has apparently not in any way affected the demand, as orders have como to hand in large volume, buyers, without doubt, being desirous of anticipating any further advance, which, from reports to band, seems imminent. Bed Herrings: Latest, advices show a-very decided increase in the best known packs 0 { this line. Cloves: A very decided increase in the jjjjt rest of this article is announced. Salmon: Tho market locally is absolutely without supply of this lino in the low price brantis. Largo orders for the Islands have Lad to he refused on this account. Mullet: This New Zealand production is ft present absolutely unprocurable. Lu'ge quantities could bo placed lx»tli locally and for export were the packers able to supply. Sardines: Some of the best known and jnost popular brands are at time of writing entirely out of tho local market, and replenishing shipments are yet far distant. Potatoes: The Wairuna brought a good jhipment from the South, and the Tarawera had also a quantity of potatoes. These two boats have augmented stocks for the time being, but the market is not overstocked!. There is no change to report from the South. The price i, £5 15s.

Onions: Tho Tarawora, from tho South, has a small shipment. Stocks in town are light, but. they are sufficient for requirements. as buying is small, owing to the conditions of the onions, which are now growing, and require picking. Tho price is £5 10s. Oats: Southern advices still point to a Tory firm feeling. Tho volume of business done by tho merchants is small, but transactions between farmers aro numerous. Holders have a firm conviction that prices will rulo lusher during tho next three months. The prieo is os 2d. Algerian _ Seed Oats: _ The Ihumata brought a shipment from Victoria and South Australia. The quality of some of tho parcols is anything but first-class. Cleaned Algerian seed are worth 4s, inferior quality are realising lower prices.

Chaff: Deliveries of local arc small. Southern shipments are also light. Tho Ihumata and two of the Craig sailers have arrived with shipments, and' have plentifully supplied this market with Melbourne) compressed and dumped chaff, but a considerable portion of their cargo was sold to arrive. The latest, advices from Melbourne point to a firmer feeling there, and Auckland merchants have been selling back some of their purchase to their Melbourno agents. Tho price is £6 for Melbourne compressed and dumped, £6 for local, -and £6 103 for Southern. . Fowl Wheat: There is very little alteration to report, but if anything this is slightly firmer. The price remains at 4s. Maize: There have been no fresh arrivals from tho Coast, and this market is only fairly stocked. Hie price is 3s, ex store. Bran is in good demand at £5 15s. Stocks &re small. Pollard is selling readily at £7. Holdings are on the light side. Flour': Northern roller flour is worth £10 15s per top, and Southern flour £9 15s per ton locally. Fungus: There is no change. Shippers arc not anxious to operate. The nominal quotation is 4d. Flax: There is very little coming in, as there is practically no market. London is still very quiet. The nominal quotations are £16 10s for g.f.a.q., £16 for f.a.q., £14 for common. Tow: This is also arriving in very small lota, and tho bulk of it is ,ibsorl>ed by local manufacturers, tho average price being about £6.

Tea: As tho present position of tea is without precedent in the history of the loaf, it. offers to the Chinese growers and exporters tho best opportunity they have yet had of making somo sort of an effort to rehabilitate their trade, and they will naturally do their best to score in some way or other. It has "been assumed that China tea cannot compote with British-grown tea, either in respect of its economical usefulness to retailers and their customers, or in regard to tho price at which it can lie put upon tho market, and that tho public will ■ not, buy it. The verdict of the professional tasters and traders upon the former point is conclusive. They ;t re in business to make money, and they did not choose one sort of tea and discard another for sentimental or personal considerations. They have found that wherever consumers were not attached to some particular flavour, only possessed by _ Chinese or Japanese tea—as they are in the United States—tho British-grown variety by . degrees displaces every other kind. It is truo that some of tho largest distributors are now personally interested in promoting ' the use of our tea, but. they have become so because their knowledgo of the trend of trade in all the markets that their agents visit enabled them to foresee what would happen. It is well for Ceylon and Indian growers that it is so, for what they were obliged to do with limited resources, as amateurs, to make their tea. known, is now being done for them, wherever there is a market for it, by experts with ample means on their own account. That is the position at. the moment, but the China trade is not dead yet. There are symptoms of recovery, find a few observers are attentively looking on to see what will {/pen. '

KATJIU GUM. The arrivals for 21 days of .Tune arc 320 tons, as against 564 tons for tho same period of last month, showing a falling off of 244 tons, and it looks as if the supplies this month aro likely to bo lower than they were for the same month last year. The High Commissioner's cabled report from London, which reached here on the 20th inst., gives some quotations which are difficult to understand by tho gum merchants here, as some of the ((notations are finite absurd, and most certainly -misleading; for instance, diggers' chips (good) at 80s 6d to 100s per cwt. dark brown chips (drossy) at 35s to 50s. and nalo three-quartor-scraped ordinary at 1655. Wore these prices obtainable the Auckland market would !m> speedily cleared. The keen competition amongst, the gum merchants here would lead them to snap tip tho above lines at far better prices than they are now lx;ing offered at by the different brokers. The market, is still inactive* in all grades, frith 'lie exception of chips and dust, for which there is a good demand, but the prices arc limited, and any increase in price would immediately restrict business. Palo Select: Business is small, with very little offering. Ordinary: _ Really good roseraped can Ik; quitted. but inferior parcels are not wanted orate sales have taken rilr.oo of sorted superior three-quarter-sera |>ed ordinary, with prices more inclined to decline than increase. Fnsorted parrels of ordinary are not asked for. Medium ordinary and extra Well-cleaned washed nuts can be placed, and there is still a little business doing in coated Washed Tints. (.Jood swamp with heart, in it a nd medium swamp are rather sluggish, but poor white swamp polls if it, is dry. hast; (.'oast.: Stocks aro light; business is quiet temporarily. Black: flood reseraped is selling, and also hold lumps, sound and well-cleaned, which inust, be quite free from streaky pieocs. 'Tied three-quarter-scraped steel is still moving -of! slowly. T nsorted parcels are unsalable. Medium block and good hard black nuts are changing hands at. mode-rate prices. . ''tor black mils mixed with white swampy 'Has are held hero in fair quantities. Hush: Bled bush, well-sorted, bold, of Rood colour and free from soft; pieces, i<< salable, but t h-jro is not much doing in other grades. Chips and Dust.: All kinds of chips and oust are selling, without anv improvement 111 price, including bright chins arid dust, ; ordinary chips, diggers' ordinary chips (sifted), diggers' ordinary chips and dust, ordinary dust. of good colour arid free from ) arth, black riddlinga, black weds, ami eoarso black dust, if in dry condition. MESSRS. 11. VV. IMN'NKV AND RONS' DEPORT. > On Tuesday mc offered and cleared Jorge catawjfWß of hides. skins, an I tallow. , Hides: Market, "continues linn (or nil elaaura ,n good condition. Extra .stout 7Jd to 71. •tout 6(jil to o,id, medium did to 6j«l, aS'it 6i,ci to f>J<l; .cows, extra good, 6Jd to 6jd, *«"! sjj,j to 6tl, sim'ohils s}<l to fi.M ; stag,'. 4]d to ®[1,; tups, ''J' l to 6<J; yearlings, £>,}<! to t»<l ealf- . "inn VA< 1 to IM, good 6jd to 7d, meaty 5.1 d to s:|d, cat and damaged 3id 0> *,;.d ]V 1 It,. [. . Sheepskins: Murk ft. (Inn, with good rompetition. lUjtetiers' best lamht»kina anil pelt*, 4» '« 4» .VI; good, ',i to 3s txl ; country, best, 3s fa to 3» 6d; seconds. & to 2# (id; country dry kinx. larjif, Vs 3d to 7s 9d ; good, 4h 3d to 6s; • "awtium, 3s 3d to 4s; small, 2* 3d to 3d each. •' tallow : Market linn. Beat mixed, in shipment 'i t' 27a (id 10 2Ks 6it, good 24s to 265, medium ws M to 23* fad, inferior 13k to *-!0s per cwt. Rough lat. l£d to lid per lb. ■_ C"*tails. Is Bd per dor.en. .' Boacit; Good dry, £1 16s to £4 17 a M.J&i. fan.

LONDON SUA REMARKET. By Telegraph. Press Association.—Copyright. (Received June 22. 8 p.m.) , LONDON, June 22. vi.7.. l? wi , njf ) 10 tlio closing Quotations for Ma.. « 1 shares: —\Vaihi. buyers 62s 6(1, sellers Cos; talisman, buyers 43s 9d, sellers 51s 3d. LONDON. By Telegraph.— Press Association.-Copyright. (Keceivod Juno 22, 7.1-"i p.m.) LONDON, June 22. IiI'TTFK AND CHEESE. Butter is in rather less demand, owing to la.irly general rains, Prices aro practically unchanged, a holiday tone prevailing. Cheese is firm; New Zealand, 60s. UK MP AND COTTON. Kemp is quiet and unchanged. Cotton, 7.92Jd. "frozen meat. Sheep: North Island, 3j}d; best brands, 3jd. Lambs: Canterbury, light sid, medium sd, heavy 4,-Jd; Southland, sd; North Island, 4ad. selected brands sd; chilled beef, fores 24d, hinds -Id. Australian: Sheep, light, ofjd, heavy 43d; ewes, 3Jd; others unchanged. WHEAT. FLOUR. AND OATS. The wheat- markets are quiet, and buyers cautious. European crop prospects are generally favourable, but there is little demand for cargoes. An •Australian cargo sold at 345. Sellers are firm in sympathy with a sharp rise in America on reports that winter wheat lias ripened prematurely. For Australian atloat Juno 33s 9<l and 34s is asked; 33s paid for a. parcel arrived. There is moderate inquiry for Australian on snot, at 365. Flour in quiet.; Australian, 24s Id ex store. Oats are inactive. La Plata. July-August shimuents, t4s ItHd. RABBIT SKIN'S. At the rabbit skin sales 2000 bales were offered, and 800 sold. Australian winter wero a halfpenny to a penny dearer. Hummers unchanged. All New Zealand skins were fully a penny dearer. TALLOW. At the tallow sales 2CX;S casks were, offered and 1719 sold. Mutton: Fine, 35* 3d; medium, 32s 6d. Heel": Fine, 33s 6d; medium, 313. Messrs. Dal get y nd Co., Limited, are in receipt of the following cablegram from their London office under date Juno Frozen mutton and lamb; Prices are par to one-eighth' of a penny higher. Business is interrupted by the holidays. Frozen beef is unchanged.