COMMERCIAL.

New Zealand Herald, Volume LIII, Issue 16375, 1 November 1916, Page 5

COMMERCIAL.

■>«5; o<300 D BUSINESS REPORTED. PPvODUCE REMAINS FIRM. The month of October has closed with business in a much more active state than appeared likely a month ago. Heavy stocks appear to be generally held, but | the demand is well maintained in most linos, and shipments are quickly distributed on arrival. Indents are now coming forward more freely, but practically all prices are higher, and importers do not look for any general fall for a long time. In some chemicals there has been a decided reaction lately, but that has generally been due to the" prices soaring too high at first, when stocks of Continental origin were found to be low, and there appeared little pre ,ect of further supplies. However, high prices brought about the usual cure, for English and American manufacturers very soon increased their output to compensate for the absence of German supplies, and the prices have become much more reasonable. This decline is not general, but is noticeable in several lines where the quotations of a year ago did not appear justified. In other lines there is still a shortage, | which will probably be seen till the war i is over. I Produce ; There is a general firmness throughout the grain and produce markets, all lines selling well and at full rates. lhe prospects for the coming season are- i the best that have ever been known. i i rices will give the highest returns that I have ever been obtained, and a heavy production is likely if present weaiuer conditions continue, Potatoes and Onions. Potatoes : The Tarawera brought a small lot, but the market is still bare, ; so that it is hard to fill orders in hand. It is now getting so close to the season for full supplies of new potatoes that merchants are very careful about getting large quantities from Australia, and onlv ! small lots are obtainable in the South. The market firmed for a time on the ! other side, but has since declined again. ! Locally the price has advanced to £14 I es store, and stocks are so short that the i market is firm at that figure. j Seed Potatoes: The continuation of j perfect planting weather is causing the I demand foT seed potatoes to keep up. New potatoes are beginning to come into ! : the market, but the price is still high for good samples. " ' Onions : The market is poorlv supplied, I and good quality are worth £14. New onions should be ready in Svdney very ; I shortly, but at present the onlv available i . supplies are old season's from Melbourne, ■ and it is not always possible to secure ; space for these. The quality is not givir.f ! I satisfaction. ' " 3 i Oats, Wheat, and Flour. Oats : Market is about the same, but Southern merchants appear a little mere \ willing to quote. The crops are promis- I ing much better than last year, so that j holders will no doubt clear" out all their i stocks before the harvest is in. j Seed Oats : Demand has ceased, and ! considerable stocks are still left over, 'if ■ the market advances at all these can be- j used for feed. i Wheat : The market has again made a ' sharp advance at Home, so that there I seems little chance of a decline in Aus- j tralia, as their supplies may be in keen j demand after all. The hopes that have I been entertained regarding Russian and ; Roumanian wheat being released do not I : appear likely to be reahsec". and the Nor- j ! them hemisphere is again facing a winter I with two of its largest supplies of wheat j , cat off. If Australia has objections to supplying its manhood for the firing-line, it will probably be found quite willing to : supply its wheat when induced by the extraordinary price of 9s 6d per bushel ; in London, Nothing now remains but j' for Great Britain to supply the promised i ' ships, and the Australian wheatgrowers will have made their fortunes. i ; Flour: Any tendency to ease has now ! disappeared, and the market has a firmer I toi.e, in sympathy with wheat. Bran and Pollard: Both are selling well, at full rates. / Chafl and Maize. Chaff: Much more is now on offer from all the Canterbury ports, but Blenheim is ! generally in demand on account of its ' even quality. Local is also comincr in, anall holders appear willing to get rid of i their stocks in anticipation of good crops. Maize: Small shipments are keeping the I price firm, latest sales being at 4s 3d on i the wharf in wholesale lines. As the de- I mand is much lighter it is generally ' thought that any large quantity arriving would immediately drop the price. Fertilisers: The Waihora is due in a few weeks with supplies of bonedn«t that are urgently needed, the last Calcutta ! shipment having been nearly all distri- ! buted at once. All fertilisers are likely \ Ito be ir ?hort sunr>lv. The export of basic i slacr from the United Kingdom is r>ro- j hibited. and Ephos phosphate, which has lately been taking its place, Is also almost ' off the market. It is questionable if further supplies can be obtained, and if they are the price will be hirher. Super is rather scarce, and the market is now depending on Australian and locally manufactured. Fencing Wire Firmer. Fencing Wire : Market ha* again firmed in America. Nails and staples are also I dearer, and some manufacturers are not j quoting till next year. ! Kerosene: A shipment has arrived by the Golden Gate, but the price is no lower. Peanuts: Stocks are low, and a sharp advance in price has taken place. Flax: The London market keeps up well, and local buyers are operating in the hope of getting their shipments away with reasonable regularity. Price mav be given as £35 for good fan-. £34 for high point fair, and £33 for ordinary. Millers are now sending in fair quantities again, and the new season has opened very favourably as regards prices. Kauri Gum Market. ' inri Gum: Supplies for October amount to 317 tons, which is rather less than usual. Moderate shipments are being sent away, bo that local stores are not unduly full. Market remains about the same. All good grades are in fair demand, although, if anything, prices are slightly weaker. There is not much bush coming forward, and all that has arrived has been placed at late rates. There is a market for real good black chips, hut poorer qualities are difficult to place. The nigh freights ore the disturbing element in the kauri cum market, as they are restricting fresh business. LAND COMPANY'S YEAR. DROUGHT IN QUEENSLAND. A. and NZ Gab'e- LONDON. October 30. The report presented at the thirtieth annual meeting of the New Zealand -ind Australian Land Co. stated that operations had been seriously affected by - drought, causing heavy losses of sheep and cattle, especially in Queensland, where flocks were reduced by 40 per cent Therefore the directors had taken £82.000 from the contingency fund, the object of which was to meet exceptional losses due to periodical droughts. The company's te- ' serves were largely invested in American - securities, but, to meet national requirements, most of these had been sold at • satisfactory prices, and the nroceeds 1 largely invested in Treasury bills. 1 -—

GRAIN AND POTATOES. [BT TELEGRAPH. —PRESS ASS3CUTIOS.] ' CHIUSTCHrjRCH. Tuesday. Tliere are no changes to note in the grain * market, wheat being firm at late rates. Potatoes are in short supply, and £8 15s '* Ito £9 is offered at country stations. i