COMMERCIAL.

New Zealand Herald, Volume LI, Issue 15715, 16 September 1914, Page 5

COMMERCIAL.

MARKET REPORT.

BUSINESS STILL LIMITED.

General business continues on a limited scale. This is always the slack week of the month, as forward booking commences next week, and buyers are holding off as much as possible. Soft goods' houses have good orders booked for delivery on next month's account, especially to the country districts, as the dairying has now commenced, and this will put a good deal of money in circulation at the end of October, in payment for September supplies. Storekeepers are therefore prepared to operate more freely than they have done during the past month.

Shipping: Oversea arrivals have bean very small lately, and this has limited business for delivery from the wharf. Imported lines are quoted generally at an advance on old rates, as there is an actual increase in cost, besides the doubt as to the arrival of further supplies. Produce: Supplies from the South, which were partially interrupted •by the reduced steamer service at the verv time when demand was heaviest, should be ample for the future, as a full service is now running again, Potatoes: The Riverina brought nearly 4000 sacks to a market already heavily supplied, and although a fair proportion of these were for seed purposes the quantity was far too large to be readily absorbed. Prices are consequently easier, and best quality are selling at £4 15s ex store. Ample stocks are held in the South, and the new crop will begin to come in locally next month, which will further reduce the demand on Southern supplies. Seed Potatoes: All varieties are selling well. The weather has been perfect for planting the main crop, but rain is badly wanted now, in order to bring on a more vigorous growth. Onions: Stocks are very low. A small lot of Japanese arrived from Australia, and these have come to a very good market. Importers have been put to great trouble and expense on account of the war. Regular shipments were coming to Sydney by the German line of steamers from Japan, and the detention in neutral ports has been disastrous to the onions aboard, the last two shipments that eventually got through to Sydney having suffered very severely. Loss and extra expense incurred has raised the price here, and the few good quality available now are quoted at £16. Oats:- Demand for export from the South is very heavy, and it only requires available space for shipment to firm the market considerably. Local demand keeps good, and as supplies are only moderate the arrivals move off rapidly. The Wairuna is now loading with a good quantity, and there should soon be ample space on the coast to bring up full supplies. Present quotation is 3s 6d, ex store, for best feed.

Seer) Oats: Demand is at its height, and farmers are putting in all they can during the good weather. A good inquiry continues for Algerian seed. Stocks are light, and unfortunately supplies of machine-cleaned seed intended for this market are still held up at Southern ports for want of space. However, these will be coming on shortly. Wheat: Milling wheat is very firmly held, and only small quantities are available. It seems to be recognised that sufficient stocks are in the Dominion to last till next harvest, but the shortage in the northern hemisphere points to high values ruling. Fowl Wheat: Price has advanced fully 3d during the last few days, and the present cost is equivalent to 5s 6d delivered into store in Auckland. Local price has responded to the advance in the South, and 5s 9d ex store is now asked.

Flour Another advance has taken place, and Southern is now selling on the basis of £13 10s ex store, in sacks, and this does not leave much on present cost. Local mills are overtaking orders on hand that accumulated during the rush. Bran: Demand keeps good. It was expected to fall off with the advance of spring, but the dry weather is getting very serious, and if it continues much longer it will probably cause an advance in the price of bran. Pollard: Stocks rather light, and demand good. Maize: Arrivals were hardly as heavy during last week, but good stocks were held in store, and these have easily supplied the demand. A good inquiry continues, assisted by the high price of wheat. The Kaeo is now in with a large shipment, and the market is weaker again. Chaff: A good deal is arriving from the South, but ithis is moving off well, as there is a steady local demand, and a large quantity has been required for the troopships. Cornsacks: Importers were getting anxious about supplies for Australia and New Zealand for the coming season, but arrangements have been made recently that should ensure sufficient for the harvest.

Fungus: Demand keeps good at s^d. Flax: Market is very quiet, there being practically no demand since the war began. KAURI GUM. The quantity coining in is very small, and the majority of consignments are placed immediately on arrival. The principal lines changing hands are good black, second grade black, bush, and chips free from dust. White is selling a little when owners are prepared to accept £25 to £30 per ton below old reserves, and business in this grade is purely speculative. Buying is at present almost entirely limited to the American market, these being the only orders on hand at present. Orders for the Continent were cancelled. This applies particularly to Germany, which, during the last few years has taken large quantities of the cheap grades of gum. This gave a remunerative outlet for the poor qualities of chips and dust, which were used for manufacturing in Germany, and as these grades cannot be placed elsewhere it means that business in them has ceased for the present.

LONDON STOCK EXCHANGE.

STEP TOWARDS RE-OPENING. By Telegraph— Associationwopyright. (Received September 15, 930 p.m.) London-, September 14. Silver is quoted at 24J. The Stock Exchange Committee has acceded to the Consol market's request to issue an ai '"e via ted official list of quotations of the trustee securities. This is taken as being the first step towards reopening. ■■ AUSTRALIAN MARKET. ' By Telegraph—Press Association Copyright. Sydney. September 15 v -The rain has caused an easier tone in the wheat market. Butter has dropped 4s per cwt. and cheese has eased a. lb. The arrival of the. rain is better than, the war news, and is responsible for a more cheerful tone in business generally. GRAIN AND PRODUCE MARKET. [BY TELEGRAPH.PRESS association.] CimiSTcnimcH, Tuesday. There is no change to report in the grain and produce markets. ITiere is no wheat offering by growers, and prices for this gsain are purely nominal. A few oats are offering, but at prices that buyers are not prepared to give. Potatoes are very dull of sale, but there is no change in prices.