AMERICAN COMMERCIAL.

Otago Daily Times, Issue 9293, 8 December 1891, Page 2

AMERICAN COMMERCIAL.

Messrs Arkell and Douglas report under date New York, November 7 :—

Kerosene Oil.—The market has ruled dull, and late advances have been lost, the basis price falling to the low figure of 7'fioc, ■which makes price of MOO cases, 150 deg. Water White 8-60 c, per American gallon. There are many who expect even lower prices will rule; but further declines, if made, will probably be small. Present figures must show little or no profit to refiners. Tha causes of the continued depression are hard to state with any certainty. Among various explanations we mention the following :— Russian competition in certain countries ; falling off in export demand to the East; home business not up to usual standard; large and increasing crude at the wells, and especially heavy and unexpected yield of wells in lately newly-discovered district. -*

Turpentine. —Figures are rather easier, and we quote at present 411 cto 42Jc. There may be still further fractional declines, but if supplies aro ■wanted we would advocate buying, as we look for a consider-ably higher range of prices next few months.

Lobsters. —We continue to quote 2dol 5c a dozen for good brands ; paper-lined, idol lEc. + : Oysters.—There has been a break of 10c. a doz in th-j market, brought about we understand by several new packers starting up in opposition to the older established linns, who have been working in unison. We quote at moment Kcnsetts, lib full weight, !>2lc. per doz ; other brands, 85c. to 90c. The new packing has just started, and much depends as to future course of the (market on the yield, also whether new factories will continue in the field. At prices quoted there is a loss to the packer.

Dried and Evaporated Apples.—Dried fruit is coining slowly to market. Price ruling for good grade, 6c. AYe look for rather higher prices later in the season, as the New York State crop is not likely to be as large as expected. Evaporated fruit is very cheap, relatively much cheaper than dried. We can purchase good grade as low: as 7;C. to Be. per lb. _^