COMMERCIAL.

New Zealand Herald, Volume LI, Issue 15639, 19 June 1914, Page 5

COMMERCIAL.

MARKET - REVIEW. GENERAL BUSINESS • QUIET.

Thb week has been a quiet one a« regards geiierpl business. Shipping business has been'without special interest, both imports and .exports being on a email scale, and the" quietness on tho wharf has been reflected throughout the tradjng community. Wholesale and retail are both settling down to tho smallor turnover usual during the winter, and "a good many houses will soon be stocktaking, as they arrange this for, tho quiet time of the year. Tho wholesale houses are looking forward to some increase in business in a few days, as booking for next month's account will soon commence. Building is still quiet agjjegorda suburban residences, and a shortage .is' not unlikely in tho spring, as the usual increase in population is taking place without the corresponding increase in accommodation.

Produce: The markets ore rather full, generally speaking, but in values several lines have 'taken a turn for the better during tjie week, grain on the other hand being hardly as firm, except in oats. Potatoes: Shipments or potatoes from the South hare again been on a smaller scale this week, so that stocks in storp have been considerably reduced. Quotation remains at £5 5s ex store, but there is a decidedly firm fooling, as the impression is growing that with stocks within reasonable compass the market should respond to the altered tone in the South. Shippers are firmer in their ideas, and will not quote at old rates for shipment to Auckland.

Seed Potatoes: Planting is late this year, as the cold, wet weather has delayed operations, and farmers have not boon nearly so eager to plant after the experience of last year. Good stocks, are held here, and a fair inquiry has set in, but it is expected that the sales will not equal last year's, especially «as many growers round Pukekohe have saved their own autumn-grown seed. Onions : Selling \ety well, as most varieties of fresh vegetables are hardly so plentiful. Price is £6 10s ex store for good quality, and an advance is expected shortly. Oats: Good stocks aro held locally, and no change in price has taken place, A grade soiling at 2s lOd ex store. The export business now taking place is slightly hardening values in the South, and during tho week shippers have been trying to buy back parcels sold to Auckland. Wheat : A little business is passing, but the market is decidedly weaker, no doubt owing to the heavy importations of Australian flour, which is being landed at most of tho Southern ports, as well as hero. It is well known that the Commonwealth crop of wheat has been, enormous this year. The acreage under wheat was 9,041,777, being far in excess of previous records, tho area for tho three previous seasons being fairly steady at a little under 7,600,000 acres. The averago yield is estimated at 11.62 bushels per acre, against 12,63 last year, and 9.64 in 1911-12, but the increased average has lifted the total yield to 104,129,713 bushels, compared with 91,981,070 bushels last year. A very largo export has already taken place, the value of wheat shipped during the first four months of tho year being £7,185,303, compared with (£4,565,560 during tho same period of 1913, while flour has been exported to the value of £732.464, compared with £683,398 in 1913. Not verv much wheat has come to New Zealand, but rather a large quantity of flour has come, and this has somewhat upset the market. We are advised this week that some of tho mills in the South Island have temporarily closed down, being heavily stocked with flour, and this has depressed the wheat market, as it is beginning to be realised that there may be ample stocks in New Zealand after all to last till next harvest.

Fowl Wheat: A little weaker, in sympathy with milling. Good stocks are held,' and demand has fallen of! a good deal.

Bran: In good supply, after being short for some timo.

Pollard: Very firm, and good quantities are selling. Ricomeal: It is rather remarkable that, although pollard has advanced quite £1 por ton in Australia since the season opened, ricemeal still remains unchanged. A fair quantity is, therefore, being im ported, as it is used as a substitute for pollard when the latter is expensive. Barley: A fair business is being done in Gisborno barley. Maize: Heavier shipments have weakened the market, as thcro have been good supplies of Java maize from Sydney, and also local from the coast. The first lot of new maize arrived this week, and it seems to bo in good condition, but as it will not generally keep long when once .shelled it has to be sold at once. The weakness in tho market applies particularly to new maize, as good old grain will more readily hold its own against Java, especially as a good- quantity will be wanted for seed. All those farmers who had a few acre* under maize last summor appreciated tho advantage of it when February and March turnod out so dry, and a larger area is expected to be put in this next sping. Linseed: There is a good inquiry. Chaff: Very little local coming in, but Southern shippers have a good many contracts for Auckland, and this keeps the market firm.

! Hay: ,Now coming forward from the I South. There is a good inquiry, price being below last year. Bonedusfc: Business is very quiet just now A slight" reduction was made in Calcutta for March shipment, but importers could not avail,themselves of it to any extent, as it would arrive at the slackest time of the year. A lower quotation for July might rc-sult in good business. Peas: The market is decidedly bettor in the United Kingdom, and a fair quantity is going away. Partridge and white ivory are both a little firmer.

American Fruits: Last season's prunes are exhausted in San Francisco and this has hardened the quotation for the coming season. Apricots are unprocurable, also sultanas and seedl&a raisins, while stocks of apples and pea-Acs are light. Thero will do no carry over of 1913 fruit for tho 1914 season, so that the market will open under much better conditions. An extra steamM' is promised for the 'Frisco new season's trade, starting in October.

Nuts: New Brazil note have just arrived, and are a. very fine sample. The yield was good, and with the quality also good heavier sales than usual havo resulted. Almonds: Sweet, Sicily and soft-shell promise to yield only half the ordjnary crop, and higher prices are expected. ' Dates: New dates are opening at higher rates.

Flax: The market is very dull, as there is very little inquiry in London, and this only at lower prices. London buyers do not seem to be at all disturbed by the prospect of a reduced output from New Zealand. The hemp industry of the Philippines will, it is expected, be greatly assisted by the recent hemp-grading legislation of the Philippine Government. It is pointed out that if each hemp expert, house, working independently, can establish' a hemp classification acceptable in the markets of the world, under Goverrment supervision, a greater uniformity should bo obtained. As the trade is now con- ' •ducted the producer is entirely at the | mercy of the export houses. Re lias no fixed'guido or sample to work to in the classification of his fibre, and the export house pays him largely according to the lower grades in a shipment, deriving a large margin of profit from the' higher grades. Tho consumers demand a fixed standard of quality as to fineness, colour and strength, and as the Philippine hemp must compete with fibres from other parts of the world, now uniformly classified, it is important that there should be an insular standard in the Philippines, rathor than a separate standard for each export house. The .change now taking place at Manila pays rather a' high compliment to the benefit that they can see New Zealand is gaining.by a strict system of grading.

PROPERTY SALES. Messrs. Alfred Buckhind and Sons will offer, by auction to-day at the Hsymarkit, Albert Street, at 2.30 p.m., on account, of Mr,' James Dovell, 100 acres at Waiuku East, being Section 82, Block 13, Drury S.D. -.1110 area is subdivided into 13 paddocks, well watered; and all in grass, with the exception of three acres fallow. There is a dwelling of six rooms and conveniences, a large barn, stables, and a cowshed. The land is 2i miles from tho Waiuku Township. They will also sell, to close an estate, 70 acres at Otaua, Waiuku.

. Messrs. Samuel Vailo and Sons, Ltd., will offer by public auction, at their Land Sale Rooms, 87, Queen Street, at 2 p.m. to-day, tie following properties:—House of nine rooms in Upper Pitt Street, Newton; _ the aquarium building at the Exhibition, for removal; section, 166 by 301 -links, in centre of Manurewa Township. , AUSTRALIAN PRODUCE MARKETS. By Telegraph-Press Association—Copyright (Received June 18. 8.16 p.m.) Sydney, June 18. Wheat, 3s IOJd to 3s lid. Flour, £8 5s to £8 7s 6d. Oats: Algerian' feeding, 2s 5d to 2s 6d; milling, 2s 8d to 2s 9d; Taamanian, 2s. Barley: Feeding, 2s 6dj seeding. 2s lOd. Maize, 3s 9d to 3s lOd; Java, 3s 6d. Bran and pollard, £4 ss. Potatoes, Tasmanians, £5 10s. Onions: Victorian, £8; New Zealand, £7 10s j piclders, £4 10s. Butter: Selected, 120s; secondaries, 102s to 108s; cheese, 9d to 9Jd. Bacon, BJd to od. Melbourne, June 18. Thore were good supplies of hides to--1 day. Sloppy and heavy, Jd to id lower. Others unchanged, j Adelaide, June 18. Wheat, 3s lOd to 3s lid. Flour, £8 ss. ; Bran, Is 2d. Pollard, Is 3d. LONDON MARKETS. By Telegraph— Asnociation—Copyright, Received June 18, 6 p.m.) London, Juno 18. WHEAT. Wheat is very dull, owing to the fine weather and weak American advices. PRICES OF OILS. Linseed oil, £25 12s 6d per ton. Turpentino, 33s 9d por cwt. TALLOW. At the tallow sales yesterday 2017 casks were offered and 1117 sold. "Prices, 35s 6d to 33s 6d. Messrs. Dalgety and Company, Limited, are in receipt of the following cablegram from their London office, under date Juno 17.-~" Tallow : All sorts 3d lower." MARKET REPORT. The following is Messrs. O. W. Binney and Sons' report for hides, skins, tallow, ote.:-r-Hides: Market lower. Ox, oxtra stout aid to 9d, stout Bid to 83d, medium Bid to Bid. light BJd to BJd; cows', extra good Sid to did. good B}d to eld. seconds lid to 7Jd; scored and dirty, 6jd to (ijd; cut. Sid to eld; damaged, 4jd to Sd: kips, ,65d to 7Jd; stags, 6d to 6Jd: yearlings. 7}d to B}d; calfskins, boat 9id to jod. good Bjd to fid, meaty 7d to 7{<l, cut and damaged hide], -did to s}d per lb. Skins: Market firm at lato rales. Butchers' picked skins, double fleece 8s 6d to 9s 6(1, extra, large 6s Cd to 7s, large 6a to 6s 3d, medium 6s to 5s 3d, small 4s 3d to -is 6d. extra small 3h 6d to 3s 9d; lambskins, large, 6s 3d to 6s 6d, medium 5s 3d to 5s 6d, small, 4s 3d to 4s 6d : country dry skins, 7s to 78 6d, good 5s 6d to 6s. medium 3s 6d to 4s 6d; pelts, large, 2s to 2s Od, medium Is 6d to Is 9d. small Is to Is 3d; rat-eaten and wearily skins, Cd to fljd; polts and lambskins, 2|d to 3d per lb. Tallow: Market inclined to be weak. Best mixed in shipment casks, 28a to 28s 6d. good 26s to 26s 6d, medium 26s to 26s 6d, inferior 22s to 23s 6d per cwt. Rough fat, Hd to lid per lb. Cowlails, la Bd, r«r dozen. Horsehair: Tail, Is 6d to la 3d: mane, 9d to Old per lb. * Bones: Good dry, £4 17s 6d to £5 per ton. Wool: In half bales,' fadgea, ana bags, telling freely 'at late rates Bright crossbrod, Dd to Did; medium crossbred, did to Sid; dingy' and cotted crossbred, 8d to 8ld; bellies and pieces. 5Jd to Old: dead wool, 7d to 7fd; locks. 4d to 4}d per lb; crutchings. good clean fair staple 7d to 7jd, medium 6ld to 6]d, short and dirty Sid to 6<L