COMMERCIAL.

New Zealand Herald, Volume LII, Issue 15830, 29 January 1915, Page 3

COMMERCIAL.

MARKETS AND THE WAR.

ENCOURAGING BUSINESS.

Although this is a short week, on account of the holiday, the business put through has been decidedly encouraging. Buyers have not been afraid to operate, and transactions show signs of increasing confidence, the bookings for next month being on a liberal scale. This is the more marked on account of the caution that has been exercised since the war began, for apparently the public realise at last that our trade must go on in spite of the war.

Shipping: Business has become decidedly quieter since the beginning of the war, and there will be very little doing till next month.

Imports: Business people are still faced with the difficulty of getting supplies. To a certain extent the interruption to Continental goods has been met by a transfer of the business to England or America, but this cannot be done in all lines at a moment's notice, and- by every mail importers are receiving advices that clearly show how all manufacturing interests are at present subordinated to the urgent requirements of the war. In numerous lines the export from Great Britain is entirely prohibited, while in others it is impossible to get delivery while manufacturers are giving their attention to army orders. As local stocks gradually run out this difficulty will be accentuated, and higher prices are required in order to meet the additional cost.

Produce: There are very few changes since the beginning of the week.

Potatoes: Good supplies are to hand, and the market is unchanged. In some districts the output is decidedly lower on account of the dry weather, but the total yield is more satisfactory than was anticipated, and it is practically free from blight. Best samples are selling at £6 10s ex store, lower grades In proportion. Onions: Very nice quality are now coming in from local growers, the crop having hardened well this season. The increased quantity has naturally eased the price, and prime are offering at 10s per cwt ex store.

Oats: Market continues firm at 4s 3d ex store for best feed. Stocks are not very heavy, but the high price is cutting down the demand, and merchants are only importing from hand to mouth. Continued export demand is responsible for holding up the price to an abnormal level. Wheat: Market is merely kept going by the importations from Canada, and there are practically no outside transactions. The new harvest is awaited with interest, as it will relieve a record scarcity. Flour: Local mills have announced another advance, to take effect from next week, when the price will be on the basis of £15 10s net per ton in sacks. Bran: The price has hardly teached the extraordinary level reported" ir Australia, but the market keeps very firm at late rates.

Maize: A good demand continues, and all lines arriving are readily sold. Very j little is now in store, as the high price of all other kinds of grain has caused an exceptional inquiry for maize, in spite of the hot weather. The outlook for the Bay of Plenty growers is decidedly good. Chaff : Selling fairly well at £8 ss, ex store. This* applies to Southern chaff, which at present commands the market, as it is too soon to put on the new season's local. The latter is offering, but it is - only being bought in very small quantities. Fertilisers : Demand is rather quiet, but is expected to increase shortly, as the grass seed season is now at hand. Very little Calcutta bonedust arrived by th» Aparima, but other descriptions are in good supply. Sago and Tapioca : A sharp advance is reported from Singapore. Sugar : It s reported from Mauritius that in addition to the 100,000 tons purchased by the British Government through * lof Maurifc a further qnantitv of 29,000 tons tendered in excess has been taken by them at the same price. These purchases, along with 30,000 tons bought in London from three of the leading sugar estate companies there, the Government purchases up to 160.000 tons. The shipment of this quantity is being actively proceeded with, 12 steamers representing about 75,000 tons, having already left. The weather in Mauritius has been all that could be desired for the rapid working of the crop. The receipts of sugar are considerably in excess of those during the same period last vear, and there is every probability of a record output being obtained. This sugar is being shipped to England to relieve the shortage tnat became so pronounced when the war shut off German supplies of be'et sugar, and at once caused a phenomenal advance 'in price that was only checked by a legal limit to the selling price and the "purchase abroad of immense quantities to replace the German article. Locally there is no difficulty in getting supplies now. Depiand keeps good, but this is only usual, owing to the fruit-Dreserving season, and fruit is cheap enough this year to make preserving attractive. Pineapples: There is a great scarcity ot tinned pineapples, a popular article during the picnic season. Walnuts: A considerable quantity of Chinese walnuts has just been landed, and command a good sale. Prica is about the same as last year. Clothes Pegs : Stocks are again low. Importers have been holding off, on account of the high quotation in America, but there is no sign of a fall. Caustic Soda: Small sizes are unprocurable.

Flax : The renewed inquiry Las come at an opportune time, as it has already induced some millers to resume operations, after being closed for some time The price obtainable is not very attractive, but the mere fact that there is a demand in London at last is good news after the very dull market tliab lias existed since the war began. This is the condition that tests the efficiency of the mills, as some cannot operate at a price that would be profitable to others, and further improvements in labour-saving machinery would be an advantage to the industry.

LONDON WOOL SALES.

MARKET VERY FIRM.

By Telegraph Press Association—Copyright

(Received January 28, 7 p.m.)

London', January 27. The 'wool market is very firm. The following prices were realised at the sales for New Zealand clips :— Tehoe. top price Is 4d, average, Is 3{d; Kra,'is 3d, Is 2Jd. * Australian prices were : —Den, Is lid Is Oid : Midkin, Is 3d. Is OJd ; Edgeroi' Hid, lOd; Llanillo, lid, IOAd : Bundlegulv. 9id, 9id.

LONDON MARKETS. By Telegraph—Press Association Copyright. London, January 27. Following are the latest quotations :

METALS. Silver, Is 10|d per oz. Copper : Forward, £65 12s 6d to £63 7s 6d; electrolytic, £67 to £67 10s. Tin : On spot, £167 10s, £168 ; three months, £156 and £156 10s. Spelter, £34 5s to £34 15s.

WHEAT Wheat is firm and hardening.

OIL AND TURPS. Linseed oil, 275; turpentine, 37s 6d. TALLOW.

Of 1039 casks of tallow offered, 921 were sold at current rates, no variation being recorded.