FINANCE AND TRADE.

New Zealand Times, Volume LXXI, Issue 3956, 23 January 1900, Page 6

FINANCE AND TRADE.

“New. Zealand Times” office, Monday evening,

The grain markets continue somewhat weak in view of the near approach of the appearance of the new season's crop ana tiro heavy quantities still left on hand from last year’s harvest. it has been computed that of wheat there cannot be less than 4.000,000 bushels still loft on hand after full provision for the colony’s requirements for consumption and seed. Under these circumstances Southern markets are about Id lower, holders being anxious to reduce stocks, and quotations rule from 2s 3d to 2s 6d per bushel f.o.b. Fowls’-'wheat is also a little easier, prices in Southern centres ranging 2s Id to 2;: 3d f.o.b. for good whole grain. Flour is steady but dull at €6 10s to €C 15s f.o.b. at south ports, and £7 5s to £7 10s in Wellington. Feed barley is neglected at 2s f.o.b. at South Island ports, but maize is in fair sale at 3s 2d to 3s Id per bushel in Wellington. Oats are also a trifle easier ill the South Island. Farmers have succeeded very well, with the aid of the demand for South Africa, in keeping prices up so far, but there is every probability ot some (iodine when the new- season’s grain comes to market. Bluff quotations for sparrowbills rule Is Oil to 2s f.0.b., and Canterbury rates for Danish Is 8d per bushel f.o.b. Wellington prices arc steady at 2s lid to 2s (id for good short grain, 2s 3d to 2s 4d for Danish, and 2s Id for duns. Pollard and bran arc in fairly good sale at 73s lor the former, and GOs to 60s for the latter in. Wellington. Haras and bacon arc a little easier, the Christmas trade being over and supply in excess of demand. Prime factory - cured hams arc quoted G',d per lb; prime bacon, Gfd for rolls, and old (o s;|d for sides. The trade will have to cultivate outside markets as the production increases. Butter has gone forward freely for London by the Tortnightly steamers. The Rakaia’s cargo on the 3rd instant included 30,749 packages, weighing 792, : ; tons, the largest shipment, so far, in one bottom. The shipments by the Delphic on the 10th amounted to 19.090 packages, or about 190 tons. The London market is rather weak, and local requirements well supplied. Prime, separator rules Od per lb, and prime dairy 7d. Cheese is in good demand, prime loaf being worth 5d per Lb, and medium qualities lid to 4;jd per ib. Shipments by the Rakaia amounted to 4,122 cases, about 234 tons,.;and by the Delphic 6141 casca, about 340 tons. Potatoes are in heavy supply and low in price, prime kidneys being worth 60s to 70s per ton. and good round 40s to 455. Nov. - Zealand onions are now in supply, and selling at £7 to 41V 10s per ton. Victorian, £8 10s to £9; Californian out of the market.

The hemp market is still quiet, there being no outside demand or inquiry. No further contracts have been made, with exception of small sales lor January delivery at £23 and for April delivery at £22 to £22 ss. Millers have full work to the end of March, and are in many instances behind time in their deliveries, and buyers arc not at all inclined to speculate in view of the possible collapse of tlie Philippine trouble, as well as the present difficulty of procuring shipping space. The import market, lias been quieter than in the preceding month. There was a natural reaction of inactivity after the Christmas trade, and the numerous holidays interfered a. good deal with business. Currants and raisins have had only light trade with slight weakening in prices in some instances. Tinned fish has sold fairly well. Cocktail salmon is again in supply, aud soiling at 9s per dozen ; other brands ranging from- 6s 6d to 8s; fresh herrings, Gs to 6s 6d;-sar-dines,- Alberts, 9s 6d to 10s; other brands, 6s to 6s 9d ; New Zealand mullet, ss. Del to 5s Gd per dozen. Sperm candles arc J ,d higher. Premier aud Five Medals sell at 4Jd; Osborne, 6Jcl; British sperm, 6£d ; Apollo sperm, 7d; Venus paraffin, Vcl. Of cement there have been full arrivals, totalling nearly 5600 casks, but the price is steady with good demand at 13s per cask.

Kerosene has been so scarce that small supplies were at one time procured from Sydney, hut one after another the Gairloeh, Star of the East, Clan McLeod and Knight Templar have come in bringing, together, over 23,000 cases. However, the market was provioiusiy bare, and a large proportion of these, arrival* were already sold, so that the prices are not likely to be much affected. Sales to arrive’ and from ship’s side w r ore made at lea to IOUI per gallon in bond, and ,!or small lots, duty paid, the quotation is Is Gd per gallon. Rico is easier, No. 1. Japan being offered at £23 to £24 per ton. Tapioca and sago are very scarce, and importers are disappointed that no supplies came by the Virawa, as she did not call at Singapore. I’rioos rule l!.’s to 20s. “American Trade” of December In savs that Mr E. C. E. Mills, of Messrs E. \V. Mills and Co., of Wellington, New Zealand, is spending some weeks in the United States. The Duke of Manchester; on a visit to the United States, warmly advocates m the “Now York Journal” the uninedbito construction of the Nicaragua Canal. Considerable agitation is going on in' the United States for the establishment of a parcels post system, a point on which they are behind Now Zculan 1.

A notv .sweetening substance, “ methylbenzolsulfhikl,” or “ sugariuo,” lias been discovered, ’ which is said to be 000 limes as sweet as sugar. '

Tho “Cordage Trade Journal” of December 7th, says;—“Numerous statements have been current to the effect that largo operations in the United States and Europe have been made, amounting in the last three weeks to 75,000 to 100,000 bales of Manila hemp, to be shipped when the ports now closed in the Philippines are opened, as low, incases, as 10. V cents for ‘fair current, ’ tuo ruling price on the spot being 14J cents. Ail of these statements cannot bo confirmed, but it seems to be believed, among 'those usually well-informed, that large quantities have been sold, as much as is thought to-be in th,o•warehouses in Ibe Philippine Islands. When ( bis hemp ran be delivered is, of course, a question depending upon .the settlement of tho war. Some claim it will come in instalments as each port is opened by the presence of a United States warship (i* keen peace in the particular purl, while, others anticipate that' the warring Filipinos will presently- all: become peaceful and that hemp will come forward to the extent of the present holdings in tho islands in a comparative! v few weeks. All of which is a matter of doubt at the present writing, but these reports have had their effect oil .tho market for both spot andi near-by arrival.” In a subsequent issue, dated December 21, the same journal writes —“Manufacturers arc reported to he low in stocks as a rule, but are indisposed to purchase at ruling prices for near-by hemp with the probability of at least some of the Philippine ports being opened in January, according to the United States War Department’s recent statement, and with hemp likely to arrive in the United States from Manila, not later than April. Manila hemp for Jannary-March steamer, without war clause, is now offering at 10J cents, with no business reported.’

The “Textile Mercury,” of Manchester, under dates the 9th and 16th December. reports a quiet market for New Zealand hemp, fluctuating somewhat in sympathy with the market for Manila, the quotations for good fair Wellington ranging £35 for Noveinbcr-Decemher steamer and £29 10s to £3O for Janu-ary-March steamer. According to the “International Volkswrit,” the 1898 turnover of the following universal jneviders showed results as follows ■ Million Francs. Au Bon Marche, Paris ... ... 180 An Louvre, Paris ... 145 Siegel, Cooper and Co., Chicago... 90 Marshal Field, Chicago ... ... 80 William Whitcley, London ... 55 Werthoim, Berlin ... ... 37. V John Wannamakor, Philadelphia 35 Bloomingdale’s, New York ... 30 Tho growth of the German universal provider, who is the youngest member of the party, has been quite phenomenal, the turnover of 1895 showing six million marks only, whilst 1896 aud 1897 showed already twelve and twenty-four million marks respectively, and 1898 as above thirty million marks. COMMERCIAL CABLES. PXIESH ASSOCIATION. LONDON, January 21. Rabbit-skins-—There is a good demand. Australian, linn; New Zealand, about Id decline. Hemp is quiet and unchanged. Silver—The current price of bar silvr is 2s 3 7-10 d per on. WOOL SALES. LONDON, January 21. At Iho wool sales bidding was more spirited, and there were fewer withdrawals. Merino classes and fine crossbreds wore extremely firm. Up to date 47,114 bales have been catalogued and 29,526 sold. The following prices liavo been obtained for New Zealand clips : Aram oho, 7Jd; Gear, Sijd; Paukawa, 10.’, d. FROZEN MEAT. LONDON, January 21. The following arc the official qunatious of the Frozen Moat Trade Associa - tion for mutton and lamb in lots ol PL carcases of fair average.quality : Mutton. Now Zealand crossbred wethers and maiden owes—Canterbury, unchanged, at 3 1-lGd per lb; Dunedin and Southland, unchanged, at 2 13-!6d; North Island, unchanged, at River Plato crossbred or merino wethers—Heavy, unchanged, at 211-16 d; light, unchanged, at 29-16 d.

Lamb—Prime Canterbury, f,d lower, at 4,;cl per lb; fair average (including Dunedin, Southland, Wellington and secondary Canterbury), unchanged, at 4d.