COMMERCIAL.

New Zealand Herald, Volume LI, Issue 15649, 1 July 1914, Page 7

COMMERCIAL.

MARKET REPORT. QUIETER BUSINESS. The week has opened with • business rather on the quiet side, but this can only be expected at this timo of the year. Town trado is .always quieter in tho winter, as there is less gong on in the way of building, and also in public or municipal work. But the principal falling off appears to be in the country trade, and this is generally explained by the fact that the bulk of tho people who do not live close to a wharf or a railway station endeavour as far as possible to get in their heavy stores before tho winter. This applies to all those goods in which carting is such a heavy it>m when it comes to negotiating the bad roads, and there 13 therefore a falling off in the sale of grain, flour, sugar, bonedust, and other big lines which are used just as much in the winter as at any. other time of tho year.

Money: The market shows little improvement, and the continued stringency is blamed for some of tho present slackness in trade. Money is certainly a little more plentiful for investment, and the bank returns for the quarter ending yesterday should show a considerable improvement on the position revealed by the figures at March 31, although not so much as would have -taken place but for the unucual delay in shipping our produce during the earlier month of the season. Instead of the increaso in tho export trado coming in January and February, as it did last year, these months showed a falling away, but March, April, and May brought an aggregate increase of £2,330,435, over tho same months of last year, and a still greater increase over tho trade of the previous year. If that groat increase had coffio in December, January, and February the money market would havo been in a very different position by now.

Whatever tho state of the money market theTo is always plenty of money for races and the drapery sales, and tho sales that commonced last week, and still continue this week, are no exception to the rule. A big business is being done, and all for cash.

Potatoes: Tho Monowai brought another 3418 Backs, but. thore is a good demand, and the market is not .at all overstocked. There isi a firmer feeling in tho South, and local quotations is £5 10s ex store.

Seed Potatoes: There is not much demand yet. A largo quantity is expected to move off during tho month of July, but it is hardly likely that so great an ares will be put in as there was last ycat. Onions : Stocks are not too heavy, but this is only because buyers are very careful not to get landed with too largo a stock of the present indifferent quality. There will be some trouble over the quality before tho New Zealand stocks are exhausted, and it will be nearly a couple of months before tho first importations are landed here. Price remains at £6 10s ex store.

Oats : Tho market is rather disappointing, as no response has been mado locally to tho improved position in the South. There aro plenty in store, and theWanaka is now in with another largo shipment, of which A grade still sell at 2s lOd ex store. Export trade is keeping the South busy at present. It is reported that tliu Mamari will take 3000 sacks of A grade Cartons to London, shipping them at Oamaru, and every week we hear of further parcels being sold for shipment. The export demand in the South has caused shippers to buy back a few parcels that were already sold to Auckland for later delivery anil daring the last week about 10,000 sacks of A grade havo changed hands in this way. The price obtained has ranged from 2s Id to 2s l£d, f.o b., Southern port, chiefly at the Bluff. Seed Oats : There is a good demand for Algerian seed, local being worth 3s 8d and Australian 4s. An increase in trade is expected if the weather holds good and enables tho farmers to get on with their ploughing.

Fowl Wheat: Good stocks aro held here, and demand is only quiet. Bran: Demand keeps fair, and ample stocks aro held.

Pollard ; Selling well, and stocks aro not at all heavy. . Maize. Heavy shipments of both old and now aro arriving from jthe coast, and this has slightly weakened the market, especially for new grain, which noyi realises about 4d less than old grain. No further supplies of Java maize arrived by, tho Manuka, but there aro still fairly heavy stocks in store. Demand keeps very good, and as there is hardly any fowl wheat selling at present the consignments of maize are moving off in an active market, even though :ho largo quantities have reduced the price. Chaff: Blenheim merchants aro now asking more money for chaff, but there is still a fair quantity to come from that market in execution ol contracts running. Southern is selling at £6 10s ex store, but there is very little local coming in at present. ' Fertilisers: Ver • little selling at present.

Wool: Details of the May series of colonial wool sales in London have arrived by mail. A most extraordinary feature was the large proportion of New Zealand wool catalogued, comprising 129,574 bales, out of a total of 189,018 bales offered. Now Zealand thus had more than twice as much as tho whole of Australia and the Cape combined. This heavy catalogue in the May series was duo to tho delay in getting away our wool, on account of tho strike. The upward move in prices was due to heavier buying for America, and also for Home consumption, the Continent taking less than usual.

Juto Goods : Calcutta advices show tho usual fluctuations in demand.

Flax : Although the shipments during May were almost up to last year's figures, that was only because shippers were taking advantage of the cheaper freights that commenced in May, and sent away the accumulations of the previous two months. As a matter of fact the production during May was very email, only 8891 bales being graded, as compared with 17,107 during the same month of last year, while tow also fell away Irom 5128 bales to 3257. Owing to the poor prices obtainable many flaxmillers closed down earlier than usual, and very little is now being produced. Kauri Gum : The market remains in about tho same position as last wee*. Tho usual consignments aro coming in from the North and tho Wairoa, tho quality generally showing some slight hn provement. As no vessels have loaded since last week the stocks in store are getting rather heavy, but the Kent and the Linden are loading this week, and will both take gum amongst other produce. A fair quantity is changing hands at late rates, but black gum is inclined to be easier, Heavier supplies are coming in than buyers require at present. Bush is in fair demand, if clean and of good colour. ARMY BEEF CONTRACT. By Telegraph—Press Association—Copyright. London', June 29. The War Offico is inviting tenders, to be in by September 14, for 375,000 12oz. tins of beef and 62,520 240z. tins. Delivery ie, to be at Woolwich early in February. PROPERTY SALES. Messrs. T. Mandeno Jackson will sell by public auction at their rooms, Customs Street East, at eleven o'clock this morning, three cottages just off Union Street, city, for removal. v . The New Zealand Loan and Mercantile Agency Company will Hold an extensive land sale in Pukekohe to-morrow. Fifteen building'sections in the Sunny Hill Estate, in Prospect Terrace, will be offered. Another property in Prospect Terrace ,01! half an acre, with a .two-roomed cottage, will also bo subiiiitteo*. A property in Tobin Street, on which stands a two-

Storey building, the whole the property of Mr. W. Mills, will be brought under tho hammer; and a now four-roomed house in West Street will be offered for sale. Mr. Robert Sproul's farm at Mauku is another property to be offered.

LONDON MARKETS. By Telegraph—Press Association—Copyright. (Received June 30. 11.30 p.m.) i . London, June do. SILVER. Silver is quoted at 2s 2 l-16d per standard ounce. WOOL. Arrivals of wool total 286,000 bales. A total of 144,500 hales has been forwarded to tho manufacturing districts, leaving 146,500 bales available- for the sales. COPPER. Copper, £60 5s to £60 10s. Electrolytic, i 62 2s 6d. WHEAT. The market is dull and unchanged. CANTERBURY GRAIN MARKET. [by TELEGRAM.— PRESS association.] CHRiSTcrrcncH, Tuesday. There is good demand for A grade oats for shipment, but supplies aro somewhat difficult to obtain. Tho Rimutaka is ex-' pected back at Lyttclton for more cargo for West of England ports, and will probably take away 12,000 sacks of oats. A larger quantity of oatsheaf chaff is offering, but the domands are .limited to local consumption. The price is still £2 5s to £2 10s at country stations. No change has taken place in the potato market, the prico of £2 15s being offered at country stations for early delivery, £2 17s 6d for delivery later in the month, arid £3 for delivery in August. The whole of tho crop has not yet been dug* A few growers are now taking advantage of tho improved 'weather conditions to j lift their crops.