COMMERCIAL.

New Zealand Herald, Volume LI, Issue 15613, 20 May 1914, Page 7

COMMERCIAL.

; ','"■.;- /♦ '. '" ; —.. ■ . MARKET REPORT. u.. ' , • ./ ' BUSINESS OPENS QUIETLY.' This .is : generally the' quiet week \ of .the month, and general business has opened; decidedly on ! .the quiet '■■ side;-, Wholesale transactions 'are': being'' cut down to .the smallest i dimensions, except in thei. case ;of deliveries from ships', side. Some life has been imparted to trade by the arrival of several oversea, shipments, and good deliveries have been made in the numerous lines that were short until arrival of the Tongariro, Henrik Ibsen, Andromeda, and Rimutaka. Retail : trade is keeping 5 - up very well, considering .the bad weather, - • ! ; 'iProduce: Business is now Vi!ry heavy, and, ■• as the - chief supplies are being im- [ ported from the South, a large volume of trade is passing through merchants' hands, whereas until a few weeks ago local sup- : plies were keeping somo distributors going. • The Wonaka is nearly, due from the South with the usual shipments iof grain and produce, -and from. now on .the ,quantity arriving will be much larger than it has been during the' summer. ~'.-' K\ Butter it The price of factory butter has been reduced, and now stands at Is. whole-. sale.' The total quantity butter in. cold' store in . New Zealand was: estimated ':last | Week at 90,274 ' boxes,, compared . with : 169,814 boxes this time last year, ~," ' Potatoes: market is still very! 'full)- ' ; and £5 15a ,is the best price now obtain-',' able ex wharf. Shipments coming forward, lately have been too large to be absorbedi' • and «re likely to continue very heavy for a month or so, as a good many farmers in- the South- have decided to sell as.soon as 'their potatoes are dug. ; The position is - quite different as: regards the: future outlook, for as soon as these early lots are disposed of, the market will have to face the fact that south of Timaru the crop has been a disappointment, arid it is.stated on good authority that there will hot be sufficient'to supply the local demand. Usually that district ships . large quantities ;to northern centres, but this year North Canterbury will have to bo drawn upon .for ' supplies. ,'•'■''•', ./.',." . Seed Potatoes: '■ Northern • Star - and Gamekeeper are selling in small quantities. Onions: This market is still being supplied from Canterbury. Prico remains at £6 10s ex store, but there is every indication of higher rates before next month. Forward business is being booked for July- - j September shipment from Japan. V = ■:.'•' . Oats: Local demand ', keeps good, .but » stocks are ample for all requirements. The market in the South is firm, and a few [lots of Auckland oats have been sold back jagain ;to Southern.shippers. ( - It appears I certain that a quantity will be exported;-' ; but it is not yet known whether this} will; ■ be 'sufficient to, make any impression on - New Zealand stocks. ;/:.■.' •'"' \;

Milling Wheat': A good business is passing, as millers must secure supplies when any are offering. _ Growers are unwilling sellers, and this is hampering the trade, so that Australia is getting tho benefit of it.: Wheat' has been imported already, and flour is. now being brought in small quantities to Auckland, and' also some of the Southern ports. Less flour is bping produced than usual.', even at the advance that has taken place some millers declare that it is not a paying business under; pre' sent conditions

Bran : Market firm, and as demand keeps good there, is every likelihood of an''ad-vance-Present quotation is £4' 10s ex store. '■';/'-">'■ '■ >■>■;, ... [/'■■''■/■:.■ Vv'-'f;

Pollard: Firm,at £6 17s 6d ex. store, and supplies are> short,.. ' '• ~' .; Fowl Wheat: Offerings are Very light, ! and the market keeps, firm. " ; • ■ ..V-j. j "Chaff: Bad weather. is interfering with local cutting,. hut stocks are amplo at pro- , sent, and further supplies are arriving from \ various Southern centres. ; • ]'\ ••-.''' :, Maize.: Local maize is \ very scarce; as the growers .in the Bay of- Plenty are j keeping ' back their supplies. A'high price 1 'has been established, but this is only nominal, and the bulk of the trade- is now in Java maize. Mora arrived' by tho Manuka this week, but further supplies are expected next week. .; : " ; v ':;••' : - .1 '■'. *'■':_ Seeds: Grass-seed business is now over for'-this- season, ■■ as ; the weather-': is';;now too cold. We are informed that 'most of the early-sown lots, havo taken well, ' on, account of the rain timing so, miieh earlier this year, and an abundance of feed is assured for the winter. .-»■"' V " v- '•'!.'' • ' "' Bonedust: The Manuka brought another good shipment from Sydney. 'All fertilisers are in good demand. No more is required for grass seed, but basic &lag ie still beinfe taken for top-dressing, while bonedust .and. super are in demand : for oats. The Tongariro landed a large quantity, which came to a good market. Kerosene: The Andromeda has arrived with a large shipment, and good sales have been made from ship's side at the lower quotation ruling. Wire: Both barbed and plain wire have been in short supply,' and the stocks now to hand are meeting with a good demand. ■'. Dried Fruits : Dried apples are being packed in New Zealand this year,-put up in lib packet*. Only a small quantity wero prepared this season, and they sold at once, but arrangements have been- made for considerably increasing the output next year. ■-.' ■■-..'' . ■ y Fungus: The market is weaker, , and s|d per lb is the best price obtainable now. ■' ■'■.': .''-.;. ;:';.-'•'.'■''■.■:■■■.?' ■■'r'A':i'.i'.'■■!.■■'■'■

Flax: Cables from London this week show that buyers are operating at current rates, but them is' not much life in the market. Local quotations remain at £21 10e {or good fair average, £1? 10s for high point fair, and £18 10s for ordinary. Common is nominally worth 316, but not much is changing hands. . ;.»

KAURI GUM. ; ~ ' Arrivals for the week have been- about' the usual quantity, with an improvement in quality that was expected on account of tile wet, weather causing the diggers to work the higher ground. There is a slightly better demand, and standard lines, that have been dragging in the past, are beginning to move off better;; : : East Coast: Small quantities "are, coming to hand, and these are changing hands at rather . low prices. There is a slight improvement in the :• price of .superior qunlity. ' , Reacraped: Selling at low rates, although not much., is coming,in, ,/ ••;' ~ Ordinary: In slightly bettor demand, and parcels hanging fire. are inclined to sell better, although. buyers are still; unwilling to give the reserves'. ':■'•'■ Bush : Only small quantities coming to hand, and these can bo readily placed. There is a good demand for all grades, especially when of good colour and free from bark. ' , Black : Good bold and steel are .still in good demand. Only small quantities are coming in compared with 'demand, and more could bo placed if of good quality. Good brown is also in demand, thifl line being' very scarce. ~ Poorer qualities are hot m such. demand, being generally dirty and streaky. _ Shlppors are not disposed to handle this grade on account of the quality. .. Chips and Dust: Meeting with a steady sale when clean, but the pooror qualities are dragging badly. This is on account of the quantity of on hand in Auckland stores, which at present is hardly salable'at any price. v

■/PROPERTY SALES. ~, , ■ ■' A sale by public auction will bo held at Messrs. 1. Mandenp.< rooms, Customs : Street, East, at; two o'clock this afternoon. : V The following properties will be: ; offered:-—A: business., section,••having a 66ffc; frontage ,to Grey ■Street, City, by, a depth of , 216 ft, together with the four v cottages .(alli let); standing; thereon; an J area ; situated in Stanley Street) City, together, with the cottage ;• : and f galvanised iron : .buildings erected thereon; -in the , estate of the late Sir? J...Logan Campbell; the cottage, formerly occupied ■ 'by Sir J. Logan Campbell's groom, standing on : j : a v section having a 78ft frontage ;to Stanwell / Street, Parnell, by a depth of 100 f t,• and, in the estate of the' late W. Augusta ; Scott, six proper lies,, comprising .dwelling and • section, three of which- are situated in- Burleigh Street, City, one in Boston Street,. City, one in- Rose Road. Grey Lynn, and one, in Victoria Road, Devonport. -,

- jCANTERBURti PRODUCE. ' |*/- ■If .- : -.j.;.-,' ; ' v.,''" '' OATS FOR UNITED KINGDOM. [BY ;mEOEAPH.--riIEBS ASSOCIATION.] '! Cebistchuoch, • Tuesday. .' -" Th|re is nothing fresh to report in connection with the wheat market, which is firm,, but little business is; doing. There is -a (jevelopment in the oat nilirket, which is 'hajrdly likely to have> any: appreciable effectjiupon , : : local prices'^ but it; will relieve to some ;extent the-etocks "; now held by mercljianls. This is- the opening ,up of export trado to the West of England ports:,:■■- The Westmeath ' will; take ■■:• away Borne;thousands of sacks,' and it is hoped to donpatch a larger quantity iiext month. Freight by. this month's boat ij 27a 6d; per ton, «nd for next month it will be 255. I* is noft . considered that ! there will be any profit at the presentjjrices in .the export trade' to the United Kingdom, but it will form an outlet for stocks. ; Hew Zealand oate aye quoted at > 2s' 6d' per bushel in London, so that" when all charges are'paid, the price will be less than 2s per bushel. Canadian , and 'Argentine oats '< are quoted at rajich lower; prices ' than the New Zea-.land-;|rrown cereal. The potato market is quiet and buyers are not inclined to do business at £3 per ton at : country stations, the' Auckland j market being heavily supplied at the present time. Cowgrass seed has declined in price, in consequence of the low quotations that are being received from' London. ; '•-.',■. •,<; '

: , London; MARKERS. - - «•, (Received May 19,. 10.26 p.m.) Londom', May 19. ■",!..'■'.'" WHEAT. " Wheat is firm at, fully late rates. ;;