COMMERCIAL.

New Zealand Herald, Volume LI, Issue 15560, 18 March 1914, Page 5

COMMERCIAL.

MARKET REPORT.

BUSINESS RATHER QUIET.

Business is again rather quiet this week, i There seems a disposition all round to restrict operations as much as possible! until next month. Smaller imports have come to hand during the last week or so, and this has limited the distribution of heavy parcels from ship's side. The Island steamer is taking in stores and pro duce. but the trade is smaller this month. The Rangatira is due about the end of the week to load butter, frozen meat and gen era! produce for London. Produce: So far as the producers are concerned, the event of the week is thai break in the weather. If the rain is general throughout the country there, is no doubt that there will be a record season. This has teen confidently expected all along, as the rain continued well into the summer, followed by perfect harvest weather, and now the rain has come earlierthan last year, in ample time to assure a good growth before winter. Potatoes: There are plenty of local available, and price remains at £3 10s ex store for good quality, while poor quality arc selling at various prices according to sample, are very difficult to quit. It is expected that the market will shortly improve a little, as supplies will soon slacken off and the ram this week will certainly result in smaller quantities being sent in for the next few days. Jhe first shipment of Southern arrived this week by' the Victoria. The sample is very satisfactory, but the cost is above the local, so that there is no eager inquiry for them. { > Onions: Supplies are ample, both local and Southern coming to hand in large quantities. There has been perfect weather for ripening this season, and all the samples offering are hard and well dried. The Makura took nearly 2000 cases to Vancouver last week, and there is also a demand for Australia, a few small lots already having been shipped. Present quotation is £7 10s ex store. Oats : There has been a good crop harvested in most districts in perfect weather, and as usual there are a few farmers threshing from stook and wanting to quit their grain. This keeps the market weak for present delivery, but for forward shipment the market is, if anything, a little firmer. When once the sheaves are safely stacked, farmers will want more inducement to move them. Supplies are plentiful, and price is 2s lOd ex store tor A grade. Seed Oats : Algerian seed is selling, and this is lively to continue for another three or four months. The welcome break in the weather will enable ploughing to be resumed, as it has been impossible lately to- plough for oats in most districts- A cargo of Australian-grown Algerian seed is expected towards the end of April. The sample on which this was secured was very prime, and no doubt farmers will take advantage of the change of seed. The New Zealand grown are very fair, but the difficulty is to get a good sample free from duns and blacks- Re-cleaned seed is selling at 3s 6d ex store. Wheat : Milling wheat is rather neglected. Millers have not yet come into the market, so that values,*are only nominal. It is more than likely that the' crop this year will not be sufficient for the requirement* of the Dominion, and already both wheat and flour are being imported from Australia. Fowl Wheat : Good stocks are held. A steady- demand continues at 4s 9d ex store. Flour: Market is now firmer again. Fair sales are reported. I Maize : Heavy, supplies are to hand from the coast, and also from the Islands by the Navua. but most of this has passed into second hands at late rates. Demand ex store is rather quiet. Some of the Fiji maize is again weavijly, but round hard yellow is selling within a few pence of local. Chaff: There is plenty arriving from the South, also Hawke's Bay and Mana-. watu, but demand is not very heavy at present. The quality offering this year is much better than usual. It has been well harvested, and is bright and sweet. Seeds : The demand is still increasing, and large quantities have been taken for bush clearings to be burnt .during the recent fine weather. For ploughed land farmers have been holding off, but the rain this week seems to have been fairly general, and it is expected that this will Tesult in a heavy demand for drilling. Bonedust: Demand is so good that practically no stocks are held. Every Sydney steamer has brought a fairly substantial shipment lately, but this has gone into immediate sale* Basic slag, superphosphates, and all fertilisers have been selling very well, being required for grass, oats, and top-dressing. ; In some districts the fanners have been anxious to secure their supplies before the roads could get damaged by the autumn rains. Wool : Exports of wool from Australia and New Zealand from July 1 to January 31, compared with the shipments for the corresponding seven months of the previous season, as compiled by Messrs. Dalgety and Co., have been as follows :— 1913-14 I<H2-13 »r r, , ™ , Bales Bales. New South Wales 679,9-15 621 818 Victoria .. 373,767 369i699 South Australia 137,378 151,585 Queensland 256.988 179.129 West Australia 57,715 57 392 Tasmania 19,987 13,582 Commonwealth ... . 1,524,780 1,393,205 Mew Zealand 201,431 265,966 Australasia 1,726,211 1,659,171 The increase in the exports is expected to become larger as the season advances. Dried Fruits : Advices from London show that m sultanas the best grades are now very scarce, and proportionately much higher in price than the low grade tigs : Stocks of box rigs are exhausted, and bag figs are scarce and dear Muscatels: Trays are about finished and only a few boxes are available at high prices. Currants : The market 8 a little firmer, and a small rise is expected. Almonds: As Jordans and Valencia* are practically exhausted, it seems almost certain that Sicily almonds will advance. It is most probable that next year's almond crop wilj be a good one in all varieties, and therefore the prices next year will be considerably lower. Flax : The London market is still low, although there are buyers at a price. A big falling off in the production this season is likely, as mills will close down earlier than usual. The total number of bales graded in January was-11,886, compared with 12,716 in January of last year, a decrease of 830 bales. Tow : Also showed a falling off of 568 hales, 4276 bales being dealt with, compared with 4844 during January' 1913- * *' KAURI GUM. The total supplies since last Vancouver mail left amount to 1158 tons, or 1184 tons during the month of February, compared with 935 tons during January. The total production during the first two months of this year, 2119 tons, shows a marked increase on last year's figures for the same period, 1525 tons, while in the previous year the production was only 1239 tons during the first two months- The total exports during January and February were only 961 tons, so that not half of the supplies were shipped away, and consequently stocks are accumulating in store. Of the 961 tons exported, 624 tons went to Europe, and 357 tons to the States. The latter has nearly all found its way to New York via London, as the shipments sent by nearly every Vancouver and San Francisco steamer have been very insignificant. Commencing this month kauri gum is being sent direct to New York, the Banffshire leaving Wellington this week with the first shipment,-, to be followed next month by the Roscommon, and in May by the Norfolk. The American commissioners now in Auckland will have Jess difficulty in extending a mutn- ! ally satisfactory * reciprocal trade witji America now that direct shipment to 'the [ East Coast ports is at last possibles [

Since last report further large quantities of gum have arrived, and by the vrvj this month is commencing it looks as it the arrivals will exceed last month'* total. The bulk of the consignments again consist of the poorer, qualities, but if the rain _ this week is general through the north it may result in less swampy gum being sent in, as the diggers will be able to work the stiffer country again. Market i? quieter, and buyers are holding off as much as possible till next %.onth, and only taking sufficient for actual urgent requirements. Bescraped: Dull of sale and lower prices have .to be accepted. Ordinary : Consignments are dragging, even standard lines being difficult to quit. Offers are under the reserves and therefore very little business is passing. Bush: Still a fair sale at late rates, and if a good colour all descriptions can be placed. ' Black : Changing hands, but at slightly easier rates. Good steel can be readily placed. Chips and Dust: Can be placed at ordinary rates if clean, but there is no demand at all lor poorer qualities. BANK OF AUSTRALASIA. By Telegraph—Press Association—Copyright. (Received March 17. lO.l'o p.m.) London". March 17. The Bank of Australasia deposits amount to £18,080,954, tlie cash securities to £8,349,113, and bills to £17,565,435. • _______________ LONDON MARKETS. By Telegraph—Press Association—Copyright. 'Received March 17, 10.15 p.m.) London, March 17. WHEAT. Wheat is steady, 35s 10£ d being offered for a cargo by an Australian steamer. PROPERTY SALES. _ Messrs. Hutchinson Brothers, Ltd., having recently sold their wholesalo premises in Customs Street, bought on Monday, throutrh Air. C. J. Hutchinson, land agent, the larger premises owned Vv Messrs. Laugguth a.nd Co., the portion bought having a frontage of 55ft to Customs Street and a 90ft frontage to Federal Street. The buildings consist of five storeys basement, and three other storeys). Mlessrs. Hutchinson Brothers also take oVer the lease of Dalgety's cellar, which is to be used as a bonded warehouse, and which has also access from Moore Street at the bark, thus affording extra facilities. Messrs- Langgnth and Co. retain their gumstores. fronting Federal and Moore Streets, with a 60ft frontage to Federal Street and a 40ft frontage to Moore Street, with ; four storeys (cellar, basement, and two other storevs). Possession will te given and taken on Jnlv 1, bv which date Messrs. Langguth and Co. will nave removed their general business to new premises/ Mr. C. J. Hutchinson also reports the sale of two sections in Lower Hobson Street, 47ft by 105 ft, for the sum of £2300. DUNEDIN FRUIT MARKET. [BY TELEGRAPH.—OWN correspondent. 1 Dttnedin, Tuesday, The prices current for fruit are:— Oranges, Island, 10s to 12s. Lemons, Italian, 12s 6d to 14s. Bananas, Rarotonga. 8s to 9s; Fiji, 10s to 12s. WELLINGTON FRUIT MARKET. [BT telegraph.— CORRESPONDENT.] Wellington, Tuesday.' The local market continues to display a stronger tone for both apples and pears, supplies having fallen off, and as very little summer fruits are now available, prospects continue bright. Choice apples, favourite varieties, 8s to 9s case; prime, 7s to 7s, 6d; cooking, choice large, 4s 6d to 5s case; prime, 3s "63" to 4s. Pears, choice dessert, 8s 6d to 9s 6d case; prime, 7s to 8s; stewing, choice, 4s 6d to '5s 6d case; prime, 3s 6d to 4s case. Grapes, 7d to 8d lb. Passionfruit, 4s to 5s half-case. Peaches, choice, 4s 6d to 5s half-case; prime, 3s 6d to 4s. Plums, 4s to 5s «halfcase. Tomatoes: The market is stronger, and supplies are smaller; choice, 3s 6d to 4s 6d half-case. Eggs, fresh, 18d; preserved, 15d; demand good. CANTERBURY MARKETS. v [BY TELEGRU?H.—PRESS ASSOCIATION.] Christchtjrcm, Tuesday. The markets have opened very quietly this week. Holders of both wheat and oats are very firm in their ideas of value and are' generally asking more than buyers, are prepared to give. Now that the millers have laid in some stock and the English and Australian crops have weakened, they are not disposed to make any advance prices. On the other hand, prices are not so firm as they were a fortnight ago for Tuscan and Hunters. It was believed that there would be a greater proportion of pearl sown this last year, though offerings so far this season do not.indicate that that was the cage, but the probability is that a lesser proportion of pearl has yet been threshed, as compared with Tuscan and Hunters. For pearl, the ruling price is 3s 7d and 3s 8d ; Hunters, 3s 6d and 3s 7d; and Tuscan 3s 6d. But at these prices there is very little business doing, though there is a fair quantity on offer. Good oats are firm, but few oats of any description are coming forward and growers are not inclined to accept the prices offered. There is no change in oatsheaf chaff or potatoes. Good cocksfoot is firm but ' other descriptions are more difficult of sale- Onions are easier and £3 10s at country stations is now offered. AUCKLAND STOCK EXCHANGE. The Auckland ' Stock Exchange was closed yesterday on account of St. Patrick's Day. The exchange will be open, as usual tbAiay. LONDON SHAREMARKET. By Telegraph.Press Association.—Copyright v (Received March 17, '5.5 p.m.) London, March 16. The following were "the quotations for colonial mining stock on the London Stock Exeange to-day — Waihis : Buyers, 455; sellers, 47s 6d. Grand Junction : Buyers, 25s 6d; sellers, 26s 6d.