COMMERCIAL

Otago Daily Times, Volume 13694, Issue 13694, 10 September 1906, Page 4

COMMERCIAL

Daily Times Office, Saturday eveninj. Til 15 RECIPROCITY TREATY. Judging from tho tone of the comments in Australian files just to hand the Reciprocity Treaty does not find any more favour in tho Commonwealth than in this colony. Tho following, taken from the commercial columms of the Sydney Morning Herald, is typical of Australian public opinion on this point: —

A careful analysis of tho proposed concessions by tho Commonwealth and by the Xew Zealand Government under the reciprocal arrangement indicates that as far as Australia is concerned tho bcnii.'its that will accrue should the suggested aniandmen's of the tariffs become law aro.slight, except in one or two instances. The [allowing is a complete list of the in tides upon which it is at a!! likely that Australia will have any advantage:— J\'?w tariff as applying lo The rest of Old X.'/.. Tuvift. Australia. Ike world. Aerated waters 20 p.c. ad val Free DO p.c. Raisins Id per lb Ficb Id per lb Currants Id per lb Free Id per lb Candles Id per lb Free 2d per lb Sugar Jdpcrlb Free id per lb Wir.o 5s per gal ts per gal 3s per gal Flour Hperceutal Free Is per cental From the abive table it.ean.be seen that a little increased business might pojssi'o'.y bo done in aerated waters, in Mildtira and Reliniarlt lexias, in wine, and occasionally in flour. When the Commonwealth production of sugar im'rea.ses a good market would bo found in Xew Zealand under this arrangement. Indeed this concession in tho matter of tho sugar duty is by fa.r tho most important of tl'.e whole scheme. During the current year Australia wi!'. not bo able to take advrailage of tho concession, for she will barc.ly produce auflirient for her own consumption, but in years to come this might bo different. Australia's gain in this respect would bo Fiji's ioss. Last year 2\cw Zetland imported 524.350cwt of raw sugar from Fiji, which was rotiiied at the Colonial Sugar Company's Auckland refinery. A preference of id per lb lo Australian sugar would bo a severe blow to Fiji, and to the Sugar Company, the ono a part of tho Empiro, the oilier an Australian company.

The only time in ivhich J\"ow Zealand would gain materially through the proposed reciprocal arrangement would 'be in a pcricil of prolonged drought in Australia. In ordinary seasons of abundance the Commonwealth produces butter, b&son, eggs, hay, 'ami chaff, onions, and potatoes in sufficient quantities for her own needs. Willi a.severo drought New Zealand would have a proclical monopoly o! this description of business.' Linseed is not a very large lino of importation, but in this Now Zealand will benefit Is the extent of 2s per cental pretoronco .against Use world. In the case of mail Is'ew Zcnland will have a preferenco of Is per ceirta-!, and in'preserved milk of Id per lb. These as lar as we can. discover are the only lines in which the new propo'taJs will make aiiy material difference.' IMPORT MARKET. Tho tendency towards higher values in almost all grocery lines still continues, the upward movement having been especially apparent in sovcral directions during tho past week. ,

Tho sensation of tho week has been tho big jump in sultanas, sti"ijosed to bo due to crop failure, although no definite informatiou on this point is available. The fact remains that in a number of instances quotations have been withdrawn altogether, whilst other,, quotations show, an advance of from £8 to £12 per ton, according to grade and ' sample. Merchants for the most part are in a quandary, for it now appears that the early quotations for new fruit were mostly speculative, and no information is available as to whether orders bookod at the lower prices liava been confirmed. As a considerablo amount. of forward business has been done oil the local market oil. tho basis of tho low quotes the position promises to bo an awkward one. According to latest cable advice from Smyrna tho laid-doiyn cost of p"w fruit will'to from 4Jd to 4|d, •aceorTtlng to sample, which will make tho distributing price from 6<l to 5Jd. •

This rise in the price of new sultanas lias firmed tho price of old fruit, and several parcels liavo changed hands during the week at an advance. Tho current quotations for-old sultanas is now 41,(1 to Aid, according to quality, with a hardening tendency. Cablo advico has also lieen i:ocoived of a rise of £l per ton in new currants. Old fruit is scarce on the sjvot. and this news has firmed the local market, 3]d io 4d Imi"',' the price now asked. Old (igs are practically oftt of the market, nml for the few layers offering 8d is asked. The rice market is raiiidlv hartlonincr, and Janan is well worth from £16 10s to £17. Recent private advices state'that, rice, owing to a combination of circumstances, is lilcelv to touch a. record price during the coming season.' .Tanan lias the shortest crop for years, and the existing export duty on rice will "racticilly movent it coming to N«w Zealand: whilst the crops in .Tava, Burmah. and India arc all below the average. Already Rangoon ricc has jumped £?, per (on, and the price of all varieties of the. staple is exnected to touch u record:

The satro and lapioca market is mounting steadily, overv week showing a small advance, and the latest ouotation is exactly douhlo/what it was .this time Inst vear. Merchants are 'making their nrice for, sago and i>earl ianioca 24s 6d all round, and at present quotations it would cost that PiGriire to lay down. The nifh nrice of sago, toed her with its scarcity, has caused a stood ('emend for a limj n[ brnwn pearl sago which is offering at 16s. 011 the renorted shortage in the E'l.e'lisb hop harvest, hops have taken a sudden jump. The present price for naeked hops is Is it.l-a rise of from 5d Io 6d per lb within the past fortnight. A new brand of tolii<ro—the Rod Funnol-ivill bo nn (he .market nexl wt. It i« a first-grade tolvcco, especially lint nil for this market. It is quoted as follows:— Bark Light, BWk. Aromatic. Arriintic. Fire ca?;s .. .. 1/0 H".', ' ]/!)} One case .. .. 11" 1/8 1/10 Leaser quantities 1/8 1/9, 2/ _ The market- is bare of the .following lines:—Zebra grate polish, evaporated annles._ ncaches. anrl'ots. prunes, Elcnies, VMniJplnq, -Uul English split peas arc dearer, and arc worth 20s. .An ndvan-c h'»s taken 'dace of d pev lb in the price of (l"siccn'ed roconmt, nml the price now stand'•~Ches | s. 4id: Imlf chests. 4 ! d; quarter chests, 4Jd; and ljlb nn-'-ets. 6=. The price of sheet Kid has advanced, and now stands at £9.1 15s per lon. Pi? lead has nVo advanced Is per cwt, and is quoted at 22s 6d. , As a. result, of the Rceinrocily Treaty Dimedin merchants have Iwen favoured with quotation* from Australia for Queensland siiirnrs. Millaouin. Fairymeade. and other brands. As showinn- to w |iat a trifl'ner ..extent the Now Zealand conßiimijr would benefit bv the admission of Queensland suffnr free of dutv into the co'onv there is the significant, fact that the Am Ira I inn e.i.f. nric is between £3 and £4 hin-her_than th" Colonial Suear Conmanv's nrescnt in-bond nuotation. f.0.b.. Auckland'. This coes to nrovo assertion Hint liraoticallv the whole of the remitted dnt.v would iro into tho pockets of tho Queensland snornr nlanters, .

Another pfToct of tho Trcat.v js an advance of 3s nor dozen, or Ud nor lit. (in tho 21b packet in the price of Quaker Oats.

IXVKRCAUOILL VTiomiCE AKD STOCK MARKET. (Fbom Otm Own Oorrt.spok'dbxt.) INVF.nCABf.ILL. Sontemb;* S. Tliero is stil! r.o clmngo lo reourt in the loca. oat market. Xo fresh pales have been little, but lliero lwivo not been anv more oats coming in from Iho country. Tl'w New Zealand Shipoing Company'? steauior RiinutftKft, now on tho borflt at lihiff. haviiig offeree! io Hn-ke oats lo "London ut a lower rate ol freight, merchants availed themselves of the opportunity, and sliippc-d 12,000 sacks, mostly

A grade, and Blocks in Bluff stores are conseqiiantly much lighter titan ihey were, and t!io position from the merchants' )>oint of view is now much more hopeful, though lliey would liko to see more business done with Australia than they have been doing. Prices for B grade con now be quoted at Is lOd ou truchs at country stations, with Jd less for f.a.q. ' Fowl wneat. iv easier as regards chipping, the best price obtainable boing 33 2d (f.0.b.. sacks in, not). Merchants are offering 2s !)d to 2s lOd on truolis at country stations, 'but ■there is not a great deal coming forward. Local requirements are being" filled (ex stores) ii.t, Sr. 4d. Milling wheat ia easier, owing to the 'publication of the reciprocal tariff, which aifects the price of flour, and has wade millers less willing to buy wheat st late rates. Business has been done in fair quality 'milling during the past week at 3s ou trucks at country stations. The potato market has been vary quiet during the past week. Derwenta beiiij especially dull of sale, a.nd is the best offer for tab'.o or seed. At this time there is a. littto more inquiry for white sorts, which are selling at 10s to £10 10s on trucks at country stations, according to quality. Prime quality chaff is still ill good demand at £1 2s fid in JE3 5s on trucks a.t couutry stations, and (here is a fair quantity offering. Very little bu'iinoss ins been done in the sheep liiarHt during the past reek. Ewo hoggets (wel! woo'.led) can be quoted at 18s to 10s; mixed sexes, lGs to 17s; fat wethers, 21s to 225; forward-conditioned wethers. IRs io 19s; ewes in hmb, two and fr"'-tooth, 22s Od to lis Gd; full and Eound-incu'.hed from ISa to 20s. Cattle are in good demand, and prime beef can be quoted at 30s par ]001b. Forward-con-ditioned bullocks are much sought after at £7 io £7 10s. With tlie present fine weatlier the grass is coming awnV, and the general opinion is that sheep will improve, in value later 011, especially if the wool market keeps up. 'There has been a little more inquiry in flax lote'y. Prices can bo quoted at PM for "good fair" and .£lO to f?0 5s for "fair" (f.0.b., B'.uff). Tow is neglected, and millers teem disinclined to sell at present values. The bulk of the mi'ls will not start till next month, and very little fibre ou the snot is procurable.