COMMERCIAL.

New Zealand Herald, Volume L, Issue 15390, 27 August 1913, Page 7

COMMERCIAL.

MARKET REPORT.

GENERAL BUSINESS IMPROVES.

General business shows a little improvment thin week. Fairly substantial bookings have been made for next month's account, and numerous sales from the various vessels that have arrived. Import business lias been very quiet during the past fortnight, but arrivals this week are ex ceptionally heavy, and in addition to th» large number already in port the Kaikoura is due on Thursday with another large shipment from LondonActive export business is taking place this week, for in addition to the Taiune for the Islands and the Mamma loading for Vancouver on Thursday, theivumara is this week loading for London, and. will leave this port at daylight on Friday, via Wellington, with a "largo general shipment, including kauri gum, tallow, wool, copra, whale°oil, whalebone, and ore, besides bullion to the value of about £7000.

Hardware business is still rather quiet, both in country and town, and no great change is expected until the building trade further improves.

Potatoes: The market seems to be quite disorganised, as large shipments have arrived from the South, and in addition some cf the Southern suppliers have been con-. signing. Ample stocks arc in hand, prime quality being worth £4 5s ex store. Seed Potatoes -. These have come down a little, following the rmu-Kot for table potatoes. Largo quantities arc continually arriving from the South, but they are still in good demand, and a few of the popular varieties are rapidly moving off, so that a pood area will be put into this crop this season.

Onions : A further shipment of 950 crates of Japanese arrived by the Maheno, and being in good condition they are meeting a ready sale at lis 6d. Oats : This market was already well supplied, and the Wanaka has iiineo arrived, but this shipment, is not so large as usual. There is no change in the local price, and in the South th-O market is held fairly firm by the expectation of expert business. Seed Cats: There in still a fairly good • demand for seed, principally Algerian. Oatmeal: Demand good, with no change in price. Wheat.: Reports from the Northern Hemisphere point to a heavy yield. There is not- much offering in the South at present, a.<i farmers have a big idea of the position, especially sine© the reduction in freight-. Fowlwheat: There is a better feeling in the South, and the market is slightly advanced. Local stocks are light, and there is a good demand at- 4s 6d ex store. Flour: The usual sales arj reported, but there is no activity, and no change is expected as long as the proposed reciprocity treaty with Australia is hanging over the market. ■ ■ • Bran and Pollard: There is no further change in price. Demand is hardly as g<od, but it naturally falls off a little as spring advances. Barley : Malting is being placed. in small quantities. Peas: Fair sales are reported. Market ii. rather weak. Maize: No arrivals have come to hand from the coast, and the market is now quite bare. Shippers had already cut down their consignments, and for the last week or so the weather has stopped tOl supplies. This has allowed further sales to be made ex store of parcels held for ahigh reserve, but the big prices being paid for these will hardly give a proper incuca tion of the real market value. The firs* consignments to hand will meet a very ready sale. \ ■-..."■"'■'." ' Chaff: Very little local is arriving, but fair shipments* of Canterbury and Blenheim have come to hand, and these have sold readily at late rates. . * • ■ i Fertilisers: Bonedust is in short supply,"! &6 only small shipments have arrived lately j from Sydney. A substantial shipment is expected by the Aparima from Calcutta is about a fortnight. A largo shipment of superphosphates arrived by the Melbourne to a very hare marketWool: The Americans have begun the fight in the Senate over the wool schedule, add it" will soon be known whether wool will be free. It has been calculated that the present duty of sjd per lb on Class I. wools is equal to an ad valorem duty o* 42.72 per cent, in the grease, while on sooureds the duty is equal to 100.19 per cent. The duty" of 6d per lb on Class II works out at 45.57 cent, on greasy, : while on scoureds it reaches the enormous rate of 120 per cent. The average rate of duty on wool and woollen manufactures imported into the States last year was 56-93 per cent., and the duty itself amounted t*. £5,410,696. - Even with thia tremendous assistance to bolster up the local production it is. a remarkable fact that the pro duction has steadily declined during the last four years, so that it is hardly amwonder that the Americans are convinced i that their wisest policy is to abandon the idea of conserving the domestic market-, and to assist local manufacture by admiting the raw material. During the last twentv years the imports. have averaged, roughly, a half to two-thirds of the local production. Kerosene : Fairly heavy deliveries hare been made this week from the Wakefield, at the usual reduction for sales ex ship. Hams and Bacon: Demand has improved considerably since eggs have become more plentiful. "Booking is already taking place for Christmas delivery. Currants : Reports* of the crop continue satisfactory, and opening prices are reasonable. There will certainly be difficulty in shipping from Greek ports, and shipments will probably be delayed. Dates: Present prices for new season's fruit are favourable to buyers, and a good business is passing. Reports of the crop? are not too good, and the' supply of Khadrami dates will be very limited. Muscatel Raisins : There "are prospects of a fair crop, but opening prices are likely to be a .little dearer than last year. Figs' : . The crop is progressing favourably, and it is anticipated that it will be normal. Prices will be about the same as last year. *

Timber: Business is still rather quiet for although there are several big contracts on hand these do not require very mucl .timber compared to the same value o: buildings in the shape of private residences. Activity in the latter is expected to improve later on in the spring, but during the last few months it has been decidedly quiet, principally on account of the scarcity of funds. The demand for Australia is also quiet, as they are also worried with financial stringency on the other side, but ihcrr. is an improved demand for London, and during the past few days sales of kauri timber have been mad* at a figure above the local price. Sup plies* of kauri arc rather scares at present, and this would have been felt seriously if building had been more active. The rea eon. for I'm short supplies is the fact that there nave been no freshes this last ton mont'A to bring the logs down the creeks, but the rain last week should remedy that A g-od deal of rimu is coming on the mar ket from the inland districts, and this is being largely used for inside work, as well as tailing the place of kauri to some extent for outside work.

KAURI GUM. There is no perceptible change in the position of the marked, since- last weak, and a fair amount of business is passing lit late rates. ■ • Pale Select: Only small consignments i re coming to hand, but there is no demand at present for this class of gum. Ordinary: Buyers are operating if reserves are" reasonable. Fair quantities of ur.sorted superior and threequarter scraped ordinarv are coming to hand, and are salable at late rates. Black: Rescraped black and bold lumps are salable if well cleaned. Threequarter steel is only arriving in limited quantities. Demand is quiet, buyers are holding off in . the hope of a further reduction in price. ,i: Bush: Bold Lied bush of good colour is 'in steady demand, also rescraped bush. The supplies aresmall, and any parcels ic hand are readily sold. ; Slack Riddlings: The decision oi buyers ho purchase or. tlie basis of the weight when dry is having its effect on the quan-

tity coming on the market, and this grade shows a falling off. ■Chips and Dust: All grades are salable at xate market rates if free from earth.

LONDON MARKETS. By Telegraph— Association—Copyright. (Received August 26, 6 p.m.) London, August 25. SILVER. Bar silver is quoted at 2s 3 9-16 d per standard ounce.

GRAIN AND POTATO MARKET. [BY TEiEORArH.— PRESS association.] CHMSTCinxnCH, Tuesday. A small inquiry for wheat still continues, but holders of what is in store cannot sell at the prices offered. A few lines have been submitted by growers, but they are mostly of inferior quality. ' Very little is doing in potatoes, and" the prices now offered are 27s 6d and 30s at. country station. Two or three small shipments'' have been made to Sydney, but, as the market there fell last week another £1 per ion for lasinaman potatoes, there does not appear to be much prospect of successful business being done from here, even at the low prices at which potatoes can be purchased. Tasmanian potatoes are now quoted at £6 to £6 10s per ton, against. £7 to £7 10s the week before, and as New Zealand whiteskuined varieties will realise at least £2 p*r ton less, there wjll bo no profit left after about £4 per ton has teen paid in "expenses.