COMMERCIAL.

New Zealand Herald, Volume LI, Issue 15687, 14 August 1914, Page 3

COMMERCIAL.

MARKET REVIEW.

THE EFFECTS'OF THE WAR,

General business is very much dislocated by the war, the most important immediate effects being a general rise- in imported goods, to meet the increased cost of freight and insurance, and a substantia), advance in foodstuffs. Tne latter advance was largely brought about by tho rush on the part of the public to (secure supplies in case a. shortage should ensue, and this demand operated on tho moderate stocks that are always held, and caused the very shortage that was feared. Farmers have been quick to take advantage of the improved demand, and have secured high prices from millers, merchants, and distributors, who bad to buy to replace extra heavy sales. The big rush is now partially subsiding, except in regard to the heavy lines tliat are etiJl lar short of requirements. This particularly applies to Hour and sugar, and the orders are not yet overtaken. Tho demand has been extraordinary, and quito unprecedented for every-day goods, and it has even extended to kerosene, although sufficient supplies are on hand to last for six months. A vessel is due to arrive in a few days with another big shipment, and already heavy orders aro booked for dolivery, ex ship." Retail trade keeps slack, except in provisions. . Drapery is specially quiet. Potatoes: Growers in the South are still firm at an advance of about 20s per ton over tho rates ruling before the war. borne of tho samples arriving lately have not been particularly good, as they already show signs of having been stored. Good 6tocks were held here until tho abnormal demand set in last week, but now theso aro greatly reduced, and the price is £5 10s, ex store. Seed Potatoes: A fair quantity arc selling at late rates, the. market not having advanced in sympathy with table potatoes. There does not appear to be any sign of a larger area being put in this year. Onions: Shipments from the South are practically over, and as the samples now arriving are far from satisfactory, there is a better inquiry for Japanese. Tho Maheno landed 500 cases of these in good condition. A good quantity have been ordered from Japan, but on account of the war it is not yet known if all will be shipped. The price has gone up for further supplies, and the local rate is expected to advance also before long. Oats: Farmers in the South are determined to hold out for big prices, owing to the prospect of war orders, and the market has already advanced over 6d per bushel. It is very hard to secure supplies at any figure, as holders are generally well off, and can afford to wait. Local price has advanced to meet the higher cost of fresh supplies. Oatmeal: Demand has been extra keen for the last fortnight. Wheat: Price has seen a stiff advance, and is fully up to the landed cost of Australian wheat. Fowl wheat is about 9d per bushel dearer in the South, but this is hardly likely to hold, unless the quality is good enough to be used for milling, and the local merchants are not taking the full advance. Milling, on the other hand, is very firm. Flour: Both millers and merchants are very much behind in their deliveries. Maize: Arrivals from the Coast have been very light this week, and the extra demand on account of the higher price of wheat has firmed the market considerably. There has been no difficulty in disposing of consignments at an advance of about 3d per bushel on late rates. Store stocks are now very light. Chaff: . No alteration, except a slight advance in Blenheim, and this may harden the price in Canterbury. Very little local is coming in, supplies being drawn from the South.

Barley: An improyed demand has set in, which has altered the position entirely, as the harvest was so large this year that there seemed to be great difficulty in disposing of it. Good sales have been made for shipment from Gisborae. Pollard and Bran: Both hold firm at advanced rates. Bran has been in demand for export, and further business is- expected. Ricemeal: Several parcels have been imported from Australia to sell while pollard is so dear, and the price there has now advanced 5s per ton. A good demand continues. I

Rice: We are advised that it is nowdifficult to secure further supplies. Fair bookings were made last week for shipment, from Australia, subject to the advance in freight and insurance. ' Fertilisers: Stocks._ are low i'nooughont New > Zealand, and importers have been put in a difficult position, as many had contracted to get basio slag and superphosphates from Germany. As this cannot come it will be necessary to draw from England at an increased cost. Bonedust is in short supply, and has advanced in Australia. Imported Goods. Importers have been caught short of several lines, and it looks as if there will be difficulty in filling orders. Cream of tartar and tartaric acid are both scarce, and as they come'from France, the price has advanced considerably. Dried fruits are'always running istort _at ■ this time\of the year, in anticipation of the now season's fruit arriving, and this year currants and dates are specially short. Prices fiavo advanced. Sultanas and nearly all other Mediterranean fruits are running low, but there should be no interruption of the supplies of the Amorican article this year, and the Californian trade will benefit accordingly. AUSTRALIAN PRODUCE MARKETS. By Telegraph— Association—Copyright. \Received August 13, 0.50 p.m.) . Sidney, August 13. Wheat: Old, buyers 4s 2|d, sellers 4s 3d; new, 3s lUd, sellers 4s. Flour: £10. Oata: Algerian feed, 2s 9d to 2s lOd ; milling, 3s 3d; Tasmanian, 3s 4d. Barter: Enclish, 2s 6d ; Cape. 2s 6d to 2s KM. Maize: 3s 6d to 4s. Bran and pollard: 5s Sd. Potatoes: Tasmanian, £6 15s. Onions: Victorian, £8 10s. Butter: Selected, 122; seconds, 100s to 104s. Cheese: 9d. Bacon: 9d.

It is estimated that the area under ■wheat in New South Wales is 4,108,615 acres— record, and an increase of 345,599 acres over that of last |eason. Adelaide, August 13. Wheat: 3s lid. Flour: £9 10s to £9 15s. ..Bran: Is 3Jd. Pollard: Is sd.