COMMERCIAL.

New Zealand Herald, Volume LI, Issue 15554, 11 March 1914, Page 7

COMMERCIAL.

MARKET REPORT.

EUSINESS RATHER QUIET.

Business has commenced this week on a smaller srfle than last week, wholesale orders being largely of a sorting up nature. Distributors report a fair number of transactions, but the quantities handled are only small, and there have been no oversea arrivals to distribute in large parcels.

Export trade is of particular interest : this week. The Talune has taken the usual shipments to the Cook Island?, and ■ the Navua has arrived with the usual assortment of orders foi Fiji.. Samoa, and Tonga. On Friday the Makura arrives to load butter and other produce for Vancouver. This week a new steamer service begins, in the shape of a direct line of steamers taking cargo direct from New* Zealand to the East Coast ports of the United States. Tho Banffshire is loading in Wellington. Potatoes : The market is still very full, the supplies being more thau sufficient to meet the requirements. Prices are consequently rather irregular, but good samples are quoted at £3 10s to £3 15s, while lower grade are difficult to quit. Quality lately has been more satisfactory.

Onions : Southern are now arriving in large quantities, and as the demand is not particularly brisk lower prices rule now, best samples being quoted at £8 ex store. Several local growers have held on to their onions too long, and now have to sell on the basis of Southern cost.

Oat« : There is no further change to report. Bluff oats are turning out well, and if fair weather conditions continue the Southland crop will be much more satisfactory than it was last year. Wheat : The market keeps firm. Advices from Sydney this week report an advance in flour, and there is every possibility of a further advance. Millers are not anxious to book at present prices for forward delivery, as thev anticipate an. advance in wheat if any extra export trade conies on. In New Zealand the only distinct advance reported is a rise of 10s per ton. announced by the Flouruullers' Association, so that the market is decidedly healthy. Maize : Full supplies arc available, both locally grown and Island grain still renuuiung in store in largo quantities. Further heavy shipments are to hand this week. Chaff : Very good quality is now coming in, supplies being drawn Irom Bietilieuu and Canterbury, besides local. Farmers are asking £4 10s at country stations, sacks in, as they anticipate that tAie market will hold good. Bonedusl : All me Aparima shipment has gone, so that bonedust is now scarce, while bone and blood is also in 6hort supply. Industrial troubles in Sydney have limited the shipments from that port to smaller quantities than are required at this time of the year. Basic slag and superphosphates are also in good demand. Grass Seed : All descriptions are in good demand, large quantities being required for botih surface sowing and ploughed land.

Wire: American barbed and plain wire are a &hade lower in cost.

Oil: Boiled linseed oil is scarce at present, but shipments are on the way. A good deal ot painting is going on, so that demand has been rather heavy. Jute Goods : The Calcutta market is weaker, and that has induced heavier buying, as prices have been almost prohibitive during the last few months. Flax : There is a slightly better feeling ill the London market, and buyers have come, in prepared to operate for delivery up to April. Although there is certainly a disposition to buy, they do not offer any advance in prices, and the quotations keep very low. The buying price will have to strengthen considerably before the industry can again' be conducted on payable lines. Taking into account the high freights now current, many of the millers cannot possibly work on present quotations. Fungus : A good demand continues, and sales are being made at 5Jd to s£d, according to condition. KAURI GUM. The market is slightly easier, as exporters have executed most of their orders, and are not too eager to take up fresh supplies. A large proportion of the gum now coming in consists of black gum "and chips and dust. Taking it all round, the quality is gradually falling off, and it is very difficult to dispose of some of the poor quality to hand. Ordinary : The standard lines are meeting a fairly good demand at late rates. East Coast : Demand is very quiet, and as most of the consignments are of rather poor qualitv, low prices are ruling. Res-craped* : Dull of sale. Buyers have reduced their limits, as they nave few orders for this description, and it is difficult to get late prices. Black : The market is a little lower, but there is a fair demand for good clean, free from streaky pieces, which have been realising late quotations. Prices have fallen most in the lower grades. Bush : Here again there is a steady inquiry for good quality, bold bush being in demand at late rates, while bush chips and dust are also readily salable. Lower quality is difficult to sell. Chips and Dust : Demand is not quite so keen, but sales are being made when parcels have not too great a proportion of eartn and sticks. When mixed with rubbish it is difficult to sell except at merely nominal rates that do not cover the cost. LONDON MARKETS . By Telegraph Press Association—Copyright. (Received March 10, 5.5 p.m.) Londuk, March 9. Bar silver is quoted at 2s 213-16 d per standard ounce. COPPER. The American stocks amount to 78.372,0001b. WHEAT. The wheat market is quiet and steady. INCREASE OF CAPITAL. [BY TELEGRAPH. —PRESS ASSOCIATION.] Wellington, Tuesday. The Wellington Investment Trustee and Agencv Co. decided to-day to increase its capital to £200,000 by the creation of i 100,000 new ordinary £1 shares. Tho chairman, Mr. J. R. Blair, said the company's reserve fund was now between £13,000 and £14,000. The company paid a dividend of 7 per cent, and at the price of lis the new shares would return 6| per cent.