COMMERCIAL.

New Zealand Herald, Volume LIII, Issue 16317, 25 August 1916, Page 3

COMMERCIAL.

MPROVED TRADE CONTINUEB

MAIZE MARKET GLUTTED. The improvement so noticeable in the wholesale trade at the beginning of the week has been maintained, and there has been steady booking for next month's account. Most, importers are in a better position to supply lines that have been short for some time, as several overseas shipments have arrived, and these goods are now being distributed. There is considerable satisfaction with the good order and condition in which the salved cargo from the Rangatira has arrived, showing very little trace _ of the knocking about that it received at Capetown. Other shipments have also arrived to a good market, and bookings have been made for delivery oat of the Tongariro. Grain and Produce: The most conspicuous feature of the week is the rise in wheat and the fall in maize, two contradictory movements that have caused more or less loss to all concerned. With a little judicious management there is no reason whatever why the price of maize should not have been maintained, provided the quantity arriving had continued fairly constant. Maize is a grain which is hardly ever bought in large quantities, like wheat or oats, and at this time of the year merchants are especially cautious in buying, as the new season's newly-shelled maize is very apt to get heated and mouldy. Consequently the market can only absorb a limited quantity each week, and if that quantity arrived regularly the price would practically be governed by the price of wheat, a rise taking place this week by all the rules of the market.

Position in Growers' Hands. Instead of that the market is glutted with large supplies, and at the present moment there are consignments still unsold, which have been on offer to merchants at a price considerably below what they paid for their stocks in store. At other times insufficient supplies are sent up, and merchants are compelled to import from Java and even South Africa, while a few small lines have also come from Fiji. j The growers of the Bay of Plenty have the position in their own hands, as the supplies from Gisborne are rarely sufficient to upset the market, but by sending too much at one time and too little at another the regular sale that would be profitable is quite impossible. This is a serious matter, that ought to be capable of adjustment at the hands of the Bay of Plenty growers, for at present there is considerable dissatisfaction. With judicious shipments sent up each week, instead of flooding the market when the price happens to be high, and leaving distributors short when the price eases, the growers would be assured of a regular price r approximating very closely to the price of wheat, for there should be no necessity to import a grain that grows so luxuriantly in the well-named Bay of Plenty, provided that growers would keep in close touch -with their Auckland agents, and be advised by them -as to the quantity they should consign. Potatoes: Market is firm, and stocks are low.

Seed Potatoes: The weather is quite unsuitable for planting potatoes, but as the season is getting well advanced farmers are laying in supplies ready to put in when the weather improves. Oats: Market is steady, with, very little business "passing.

Sharp Advance in Wheat. ' Wheat: A sharp advance has taken place in milling, and . good business' has been done through Southern holders. The principal turnover has been in Tuscan, which is commanding a larger share of the trade than usual. Fowl Wheat: Firmer in sympathy with milling, and barley is also quoted a little higher. Maize: It has been impossible for maize to participate in the advance recorded' in wheat as the market is glutted, and during the last day or two consignments have been going begging at 5s 9d on the wharf in wholesale lines. Chaff: Supplies from Blenheim are sufficient for all requirements, and price show no change. Pollard: Market is lower, and this is preventing any further importation of ricemeal from Australia. Linseed: Demand is improving. The New Zealand crop was a failure, and fair quantities ' have been imported from Japan. Fertilisers: There is a better inquiry for superphosphates, farmers getting ready for the turnip season. Bonedust is scarce. Salt: Market is better supplied. The Tea Market.

Tea : The mail brings an explanation of the easing in the price of common teas in | London. It seems that the market has been inundated with supplies, out of all, proportion to what can be absorbed. It is questionable whether the intrinsic value of the commoner quality is relatively equal to that of good tea at 2d to 3d per lb more, but the supplies had the effect of bringing down the price. The tendency of the market of late years has caused lowest grades to sell relatively at higher prices than medium to fine; consequently those estates that have laid themselves out to I produce large quantities have found it more profitable to do so than to aim at a smaller crop of fine quality. ! Flax : The London market continues firm, with supplies generally short.

. BUTTER AND EGGS. The Dairy Produce Committee has fixed the wholesale prices of batter and eggs for the coming week as follows : Farmers' butter, first grade, lid per lb; fresh eggs, Is per dozen.

LONDON METAL MARKET. Aust. and N.Z. Cable. LONDON. Aug. 22. Copper : Spot, £111 10s; three months, £109. Electrolytic copper, £127. Lead : Spot, £29 17s 6d ; three months, £23 10s. .Spelter : Spot, £55 three months, £49. Tin : Spot, £169 12s 6d; three months, £170 12s 6d. Silver, 31 7-16 d per ounce.

PROPERTY SALES. Mr. C. F. Bennett, auctioneer, will offer for sale by public auction,, at the Chamber of Commerce, Swanson Street, to-day, at 12 noon, a residence of nine rooms, with water frontage at Marine Parade, Heme Bay. He will also offer a residence of eight rooms, with corner section in Orakei Road, Remuera; a six-roomed house, Komaru Street, Remuera, and a block of three brick shops in the main street of Otahuhu. Messrs. Samuel Vaile and Sons, Ltd., will offer by public auction at their land sale rooms, 87, Queen Street, at 2 p.m. to-dar, the following property :Partlyimproved section of 34a 3r 36p, fronting the Matakana River; also, for removal, on behalf of the Auckland City Council, two houses and a large shed facing Campbell Point Reserve, at the foot of Gladstone Road, Parnell. Messrs. T. Mandeno Jackson will sell a seaside home on the banks of the Waitemata by public auction, at their rooms, Customs Street East, at one o'clock today. The property, which is situated at Glenfield, Hellyer's Creek, comprises over 354 acres of land, with residence of nine rooms, and is to be sold as a going concern.

It was the steamer Hesperus That sailed the wintry sea. But the skipper bold had an awful cold. And was. sad as sad could be. But his daughter fair, with the golden hair, Said. " Father, no words could be truer; No cure on earth has half the worth Of Woods' Great Peppermint Cure." Japanned black coal vases with inner lining and scoop, 6s 6d cash; also decorated, 8s 6d and 10s 9d cash.—Tonson Garlick Co.* Ltd,