COMMERCIAL.

New Zealand Herald, Volume LI, Issue 15769, 18 November 1914, Page 5

COMMERCIAL.

, MARKET REPORT,

LITTLE CHANGE IN POSITION.

• General distributing business does not show much alteration since last week, Provision houses are perhaps.a Ijttle more active, as the heavy purchases made when the war broke out are gradually working off, and the Christmas trade is already being felt in a small way, as country storekeepers are beginning to get in a few extra supplies. Drapers are busy with seasonable goods, and they also report an improved turnover with the conn-' try. Hardware is still rather quiet. The Navua has taken a shipment to the Islands, but the quantity is less than usual this trip.

Shipping: The port has been rather quiet during the past week in regard to overseas shipping, the only important arrival being the Niagara from Vancouver, with a fair quantity of cargo. The Tokomaru is to arrive on Friday to load frozen meat and a small quantity of general

cargo for London. This is an extra steamer, calling here in addition to the regular time-table, in order to cope with the cargo offering. Butter is rapidly accumulating in the cold stores, but will not be shipped until the lonic comes

next week to take up the regular running, and this vessel will take an exceptionally large qqantity of butter, frozen meat, and general cargo. The Waiwera is due from London in about a week, and brings a large general cargo.

Produce: A feature of the week has been the further hardening in values. This is partly owing to the good demand, and in that respect the move is a favourable one, but unfortunately the shortage of supply is an important factor. It is not only that the present demand 's operating on small stocks, but also that the prospects of the coming harvest are so adversely affected by the weather. It is often claimed that the prosperity if New Zealand is largely a gamble on the weather, as we are essentially a producing country, and although this is not such a variable factor as in Australia, where the rainfall makes all the difference between a famine and plenty, it is nevertheless a fact that we do not want another spring liko the present one. Already the losses are very severe; the hay crop is practi cally abandoned, potatoes are very backward, and an exceptionally light yield, while every week makes it more difficult for the grain crops to recover. In he South there has been more rain than here, and as the crops are later there it will be possible for a fair recovery 10 take place if good rains come even at this late stage in the season. Fortunately the milk yield keeps up better than would be expected with such dry wether, and there is still time for a heavy season. For sheep the season has been ideal, and profitable results are assured, both in the wool and in the carcase.

Potatoes: The shortage locally has been very pronounced this week, as the Mokoia did not bring nearly enough. Fancy prices have been occasionally paid to secure urgent supplies, but £6, ex store, may be quoted as about the ruling rate. The sharp advance is due to a general shortage throughout the Dominion at a time when Australia, is steadily drawing on our supplies, and the situation is getting no relief from the new crop, which is generally so strong!*' in evidence by the beginning of Novem ber. The absence of rain is most unfortunate for the potato crop, and in Australia it seems to be a failure.

Onions: Market is fairly well supplied again, as a good quantity of American arrived in splendid condition. These are selling at 19s per cwt. The next steamer from Australia is expected to bring the first lot of new season's onions. Oats: A keen demand is being experienced in the shipping centres in the South, good orders having been received for shipment here, and also to Australia and the United Kingdom. Market has decidedly firmed, ana good feed is nov nnoted at 3s 9d ex store. Inquiries are already in for the new harvest, some anxiety being felt on account of the backward state of the crop. Unless an extraordinary change takes place the yield must bo a light one. Wheat: The situation was quite difficult enough when we were only dealing with last harvest, but it is now still more complicated by the certainty that the yield during the coming autumn will be very ; light, while in Australia all hope of a big yield is now abandoned. Fowl Wheat: The nominal quotation is 6s 6d, ex store, but supplies are so short I that it is difficult to buy at any price. Flour: Good orders are being executed. The market is very firm, as the shortage of wheat is becoming more pronounced, and millers are having great difficulty in securing supplies. Bran: Another advance has taken place. Tho present quotation is £5 15s. ex store, and there is every prospect of a further advance. The drought in Australia has resulted in a big demand coming over here. Pollard: Market is firm at £7 10s, but there is not such a heavj demand as fur bran.

Chaff; An advance li&s take place, and the general quotation is now £6 15s ex store. Stocks in the South are working down, and holders are much firmer. Maize: Arrivals from the coast have been much smaller, and all consignments have sold very readily at a alight advance. If it were only a little earlier in the season the high price of wheat would cause a big demand for maize, but at the approach of summer it is only used in small quantities. Seed Maize; Good sales are reportod Farmers are determined to be on the safe side, as they know the value of. a few acres of green maize during a dry summer, and it seems to take very little rain to ensure a big yield.' Fertilisers: With only a fortnightly steamer from Sydney it is rather difficult to keep up the stocks of bonedust, but the chief anxiety is over basic slag and superphosphates, which are so difficult to secure now that the Continental supply is cut off.

Flax: Local storks in store aro still [airly heavy, and at present the market is so weak in London that it is impossible to pay the extra cost incurred in shipping. Freights are up, and the war risk alone is sufficient to take away the profit on a line like flax, which is often handled on the barest margin. There has been a passing inquiry from London, but the. limits are very low always, and will not, allow of business. Stocks in London are heavy, in addition to big stocks of Manila and increasing shipments of East African sisal. Fungus: Demand has still further improved, and is obtainable for dry samples. KAURI GUM. There is very little change in the market since last report. Small quantities are changing hands at low rates, the sales effected being chiefly in good qualities of whites, good white nuts, chips, and dust. | Black: Good bold rescraped, No. 1, jind I a small quantity of B2 and good hard black nuts, are moving off, but poorer qualities are unsalable, and there are no inquiries at all for chips and dust. Bush: A little is changing hands, but at reduced rates. There is nothing doing in East Coast and swamp