COMMERCIAL.

New Zealand Herald, Volume LI, Issue 15520, 30 January 1914, Page 5

COMMERCIAL.

\@M|market review. f%mk; — 1 ! COASTAL TRADE HEAVY. I •« I' |$v f '' " 'f'V s * ; holiday lias attracted more attention . general business since last report, g ■ , t]l f J to the time of closing a good c lIS was being transacted. The coastal ? S with provincial towns keeps very i ? -L an enormous quantity of goods pass- 1 both ways by the numerous small mm engaged in the service. Business >frnil with the Waikato and adjoining ,> tricls is also keeping up well. All the 'I •' {ngl export products are at a high •$P«m of prices, although tho smaller lines "I- now very low, and the good values obtainable again this year mean a greatly increased spending power on the part of ] #the settlers, with a corresponding activity j '■$ • town. The second wool sale of the sea- . m (0 be held t<>-day, will bo of parIt ticular interest on account of tho improvexfj ment in the market at Homo since the ' first sale in December. if Produce: A very strong light is shown W on tho dependence wo must place on our ■€ export, trade by tho conditions at present t' 'ailing' Wi'th a very favourable spring, 1 •m: Accompanied by plenty <-f rain, and folf lowed by the very best harvest weather, ( It usually heavy output has resulted, jj •od the local markets are flooded with ft jLja quantities of produce that it is diff ficutt to dispose of. Values in consequence ' | are very low, and while tho consumer is .] no doubt getting some of the advantage of this condition, the producer is getting ' T poor returns, in some lines hardly paying t tor the trouble and expense of marketing. r In our big export products, however, ex 1 tJv the opposite conditions prevail, and iirecwd output has not made the slightest reduction in prices, whereas values would harrt been down to a ruinous level" if the local market had been the only outlet. Wool is realising high prices, and the value* obtaining on the other side of tho world ire expected to be fully reflected in (he wool sale to-day, any slackening tendency »t Home being promptly met by an increased demand from America, under vhe impetus of the now tariff. Butter and cheese ill easily return a record output this season, and there is a better market for the increased quantity than ever there ris before. Meat is in such strong demand for export that it looks as if we are on the eve of a great change in the entire conditions governing the production. When England was our only purchaser, the prices were not always satisfactory, but now that America is coming into the •vket, as well as Canada, and there is also every prospect of a trade with Europe and even the Far East, it is simply impossible to estimate the effects of this trade in tho early future. Potatoes: Very low prices still prevail, as the market cannot absorb the large quantities coming in. Best samples are not worth more than £3 ex store, and poorer grades are almost given away. Airway the Southern growers are making ' - "preparations for disposing of their crop, and opening prices have been named at an / usually low level- There is apparently 'a strong desire to get rid of tneir crop quickly, on account of the prevalence of blight! to that we may expect offers for ■>' ddittrv of large quantities from March 'f onwards. As to whether the heavy supplies will last throughout the year, that will depend on the actual damage from the Wight. Onions: Market is lower still, lares i. ' Quantities of locally grown being on sale, the crop in the South Island is also reported to be doing well, and offers are now beinj received for early shipment. ; S Oats: The market in the South is weaker again, as there is rather a heavy cany over from last season, and tho comi fag harvest is expected to be a good one. Local merchants are well supplied, and Vj) some of them still have contracts to run in purchases they have made for delivery '$v§ from tho South at prices above present rates. Present quotation is 2s lOd ex p: '"'store, but the whole position is weak in view of the good harvest prospects and the absence of any export trade. j J.f ."Wheat: There is so little old milling wheat now available that the market is | ■ holding firm, and millers are still picking v: Bp any samples on offer. Another shipment of nulling wheat is on the way from I s '-, Australia. New wheat, has already been ; sold for for vard delivery, but very little %. is offering ai present. . Fowl Wheat: Price is weak at 4s lid ex store. , * Barky: Not very much is coming for--1 ward. Sales are being made at late "rates. y, „ " Maize: Ample supplies are coming from ] the Bay of Plenty. Demand is hardly as -r good as it has been. if Peas: Sales are already being made for - $March-April delivery. A good crop is exS|| pected, so that prices should again be fairly low this year. : . Chaff: It is reported that Blenheim will be rather short of supplies this year on "m'!'■ account of poor growing weather during ;V|; the spring. From Canterbury, however, it is expected that large quantities will be ■K available if necessary, but there is so much locally grown this year that tho local ar--I§■ ticle ought to command the market. SupS plies arts freely offering, and the market % has opened at about £4 5s to £4 10s at the 1!' Auckland station. ■fk, Seeds: A small inquiry has set in, and merchants are making their preparations •feftf. for an early season. Cocksfoot will again rale low, like last year. It is reported in , the South that ryegrass is not very plentiJs'sr ful. There is some inquiry for dogstail for « delivery at the end of February and March. >; Waikato growers are also offering meadow Jfjfv foxtail. _ Fertilisers : Demand is now rather quiet, and no great activity can be expected till J grass seed sowing commences in earnest in V a few ••■•joks. Bonedust should them bo in full supply, ;Straw: Although a larger area than usual was put into oats for this season in the Auckland province, straw will be imported from the South, and a few purchase! have been made for spread delivery. 'Pollard: Market keeps firm, and sup- » plies are not very heavy. . , Ricemeal: Small quantities are being imported from Australia for use instead of pollard, as the price on the other side is ratter lew just now. Rice: The Mahcno brought another shipment from Sydney, and the market is now Well supplied. " There is no change in price. Almond: SweH Sicily almonds have advanced. Chemicals ; Cream of tartar is firm, and tirUnc acid shown an advance. Prunes: Advices from San Francisco indicate a firmer market, and larger sizes are now unobtainable. j ~ White Lead : In sympathy with lead, the market hag advanced 10s per ton. Tinplate? : An advanoe has taken place. Canary Seed : The market has slightly recovered since the late reduction in pnees, Dried Fruit: Mediterranean sultanas are nnner. PROPERTY SALES. Messrs. Samuel Vail 6 and Sons will sel J auction at their land sale rooms, 87 Viucen Street, at 2 p.m. to-day, 40 sec t'ona in Captain Dnder's well-known Vic , ria Park Estate, Devonporl. This estat is provided with gas, water, sewer drain a ? 0 ' an d is close to a good beach. The; V also offer a shop property in Victori; Avenue, Eden Terrace, and by order o r , , . tgagee a property in Ai 'rand lloau, ,l o i nt Eden. wjssrs. T. Mandeno lackson will sel 3 public auction at their rooms, Custom I r®et East, at, eleven o'clock to-da a ' r eehold property, containing 2 »?"• and having frontages t 'lanukau Road, Taylor Street, and Wo] ?7 Road, only a quarter of an hour' , k from Avondale station and fou 'nutes' walk from motor-train stop, t< 2.her with the new six-roomed dwelling *'th all modern conveniences, erecto 'hereon. Full particulars of the propert ppci.* elsewhere, v UNION BANK OF AUSTRALIA. At a meeting of the Union Bank c < ■■■&"' ■ *ustralia, held in London on the 26t !™*'> a dividend of £1 5s per share an , "onus of lQs on old shares, was declaret k ? ■ ®Dd '? now payable to shareholders on th Gonial register on December 31.

WOOL SALES. By Telegraph.—Press Association—Copyright. (Received January 29, 10.25 p.m.) Melbourne, January 29. At the wool sales to-day the bidding for medium, coarse, and mixed crossbreds was irregular. _ These sorts were distinctly ' cheaper, with tho result that there were i trequent withdrawals. Sydnet, January 29. 8 The week's wool sales closed with ■ spirited competition for all the better classes at late full rates. Prime lots showed a slight further advance, while inferiors were less active. Greasies to ( l<Hd, acoureds to 23Jd. LONDON MARKETS. By Telegraph. —Press Association Copyright. (Received January 29, 6 p.m.) London, January 28. OILS. 1 Linseed oil is quoted at £22 15s to £22 17s 6d per ton, and turpentine at 32s 3d per cwt. WHEAT. Wheat is dull owing to the tone of I American advices. Australian to arrive is < quoted at 35s 9d to 35s 10id. ( PRICES OF METALS. t Copper, £65 15s to £66. 1 Tin is active and excited on influential , buying, and stands at £179 5s to £180. Bar silver is quoted at 2s 2|d per stan- 1 clard ounce. 1 TALLOW. ' ' The tallow market is unchanged. Of 1150 ! casks offered, 546 were sold to-day. AUSTRALIAN PRODUCE MARKETS. By Telegraph—Press Association-Copyright ' (Received January 29, 9.25 p.m.) , Sydnet, January 29. i Wheat, 3s 6Jd to 3s 6Ad. Flour, £8 ss. 1 Oats; Algerian, feeding, 2s 2d to 2s 4d: milling 2s 8d; New Zealand A Gartens, , is 3d. Barley, Cape malting, 2s 3d. to Bran and pollard, AW 10s. Potatoes, Tasmanian, £6 10s. ' Onions, Victorian, £9. Butter: Selected, 103s; B^f? ndr y» 100s. Cheese, 6d. Bacon, BJd to 9d. Adelaide, January 29. Wheat, 3s 6d to 3s 7d. Flour, £7 15s to £8. Bran and pollard, ll^d. Melbourne, January 29. There was a fair supply of hides today, and prices were firm all round. FOREIGN VEGETABLES. fniOM OUR OWN CORRESPONDENT.] London, December 19, Large consignments of foreign fruit and vegetables have been arriving in London during the past few days and will be used chiefly for salads. Five very fashionable vegetables for making salad are laitue, rotname, la manche, fenocchi, and barbs des Capucines, besides whioh there are the better-known chicory and endive. Barbe des Capucines (literally Capucins* beard) is not unlike sea-kale in appearance, and it has a peculiarly bitter, though pleasing, flavour. Laitue is simply a tiny cabbage lettuce. The nicest of them all, perhaps, is fenocchi, an Italian cross between celery and onion, with a feathery top like asparagus. Then there are fresh green peas from Algiers and fresh asparagus from San Remo. j DEARER QUININE. j [FROM OUR OWN CORRESPONDENT.] London, December 19. The price of quinine has again been raised, this being the second advance announced by the makers since the agreement was signed between the American and European manufacturers of quinine and the growers in Java of the cinchona tree, . from the bark of which quinine is produced. This agreement has the effect of regulating the output of cinchona "bark, and, consequently, of quisine, but it requires the manufacturers of quinine to purchase from the producers of the bark the equivalent of about 1,000,0000z of quinine a year at a regulated price. It is anticipated that further advances will take place. The present price is about 40 per cent, higher than that quoted about three years ago, when the lowest figure ever reached was recorded. SOUTHERN STOCK EXCHANGES. [BY TELEGRAPH.PRESS association.] Dunrdin, Thursday. The following sale was made on the Stock , Exchange to-day:—Union Steam Ship (preference), 19s lid. The following Bales were reported:—Talisman Consolidated, £2 3s 3d; Waihi Grand Junction, £1 6s 6d. Wellington, Thursday. l The following Stock Exchange sales were i reported:—Waihi, 53s 9d; Talisman Con- , solidated, 43s (two); Waihi, 545. Cheistchubch, Thursday. | The following sale is reported:—Crown ( Brewery, £1 17s. LONDON KHARKMAKKET. i By Telegraph—Press Association—Copyright. I (Beoeived January 29, 6 p.m.) Lojdoj, January 28. On the ■ London Stock Exchange to-day Great Cobar shares were quoted as follows:— Buyers, 8s Id; sellers, 9s 4d.