COMMERCIAL.

New Zealand Herald, Volume LV, Issue 16946, 4 September 1918, Page 3

COMMERCIAL.

FAIR WHOLESALE BUSINESS.

KEEN DEMAND IN PRODUCE.

A vert fair business is reported by the. wholesale houses, although it has eased off considerably since tho forward bookings ham been executed. Importers art feeling very anxious regarding future supplies, as shippins is gradually getting less regular. During tho last few weeks New Zealand importer! have rewired advice of American shipments being landed in Australia, sailers discharging there in order to take back wheat 10 Europe. Timber; A little building is going on, but nothing of any consequence. Considerable alterations are announced in the prices of timber this month, the principal being an advance in Oregon pine from 30a '- 37s £d and a general reduction in totara, riniu, and matai. Produce: The To Anau has arrived from the Bluff with a lull cargo, but several line* are still in short supply, principally in loader. Demand has been keen,, and will continue heavy until the spring growth of grass comes on in full. Potatoes: The market is well supplied, and price is easier at J!l3 10s to £14 for Southern. Although arrivals from the South have been much heavier, it may bo noted that a good proportion consisted of seed potatoes, and, as very small consignments are expected until the Tarawera returns t'roji Melbourne, it is Quite possible that stocks will be within small compass by that time. Se.'nl Potatoes: Last week tuo market was quite bare of supplies, but a good shipment is now to hand, and a hcuvy demand is again reported this week. A good area is being put in, Onions: Rather heavy supplies of Australian aro on hand, but "hew are mostly of indifferent quality, and they require re picking, consequently importing from Australia, is not popular just now, as the selling price at £35 does not leave much margin for the inevitable loss in weight. The risk is increased by the long voyage necessity in the absence of direct anilines to Audi land. The next mail steamer is expected to bring American onions, and, as these airgrown six months later, they should bo in prime condition. Oats: This market is still well supplied. which is fortunate in view of tho shortage in tho South. Very small stocks are left in Canterbury, and supplies must all be drawn from Southland now. The Te Anai: brought a shipment from the Bluff, and price remains «t Gs Id ex store. Oatmeal . The scarcity continues, with a proportionately heavier demand for tho fewbrands that are obtainable. Both local and Southern brands of ctUmcal and rolled oata are in short supply. Wheal: Although the position in regard to the supply for this year has been relieved by the Government purchase in Australia,, this does not appear to have improved tho prospects for next year. GTave doubts are entertained in some quarters as to whether sufficient wheat lias been planted to give a harvest that will last the Dominion during next year. The price is also twin:: criticised in some quarters, as it does not compare favourably with private purchases that have been made in Australia.

Fowl Wheat: In (nil supply, and price remains at Ts fill to 7s 9d ex More. Demand is not very heavy, and this is probably due to the reduction in the' number of poultry now kept. Maize": Demand keops Rood, many poultrykeepers using a large proportion or maize during the winter, and the price remains firm on the basis of 7a 6d on the wharf in wholesale lines. Bran and Pollard: Both in short supply. Chaff: Nominally the price is about £14 10s ox store for best quality, but there is very little about, and further supplies aro very doubtful. Shipping from Australia is impossible, and from the South is almost as scarce. Flax: Heavy stocks are in store, and it is almost hopeless to expect the position to improve much in ths immediate future. Occasionally a little is sent away, but the. chief outlet, is by sailer to America, and the whole position is so obscure that some mills will not bo opening at the usual time this year.

NORTHERN BOOT COMPANY.

DIVIDEND OF 8 PER CENT.

Tho report of the directors of the Northern Boot and Shoo Manufacturing Company, to bo presented at tho annual meeting to-day. states that the net profit amounts to £2053 Is 9d, which, together with the amount brought forward from last year's balance at credit of profit and loss account, shows a total of £6789 15s. The directors recommend the payment of a dividend at the rate of ti per cent, per annum on the paid-up capital, which, together villi the directors' honoraria, will total £1210. leaving a balance oi £843 Is 9d to be carried to the credit or, profit and loss account, which will then total £5579 15s. Ten per ceo i.as been written off the plant and furniture ace .tnts for depreciation. i The liabilities of the company total £16,986 as 7'', and assets £13,518 lis lOd.

PARENGA GUMFIELDS COMPANY. A general meeting of shareholders of the Parenga Gumfields Company, Ltd., was held yesterday, when resolutions were caroled empowering the directors to raise debenture capital for the purpose of prosecuting the kauri oil industry, Plans and specifications of a plant capable of turning out 2000 gallons per diom, prepared by the Company's consultin;: engineer, were approved, and steps are being taken for tho immediate erection of the works. It was reported that investigations had proved to the satisfaction of the directors the feasibility of extracting the oil, and making it a profitable commercial undertaking.