GENERAL.

New Zealand Tablet, Volume XXVI, Issue 2, 13 May 1898, Page 13

GENERAL.

The War and the American Markets Messrs. Arkell and Douglas, in their circular datel Njw York March 31, report : — Kerosene Oil — The Standard Oil Company have continued to lower prices at intervals of a week to 10 days, but only to the extent of five points each time. The basis price at present is 6 40.100 c, and the feeling seems to be that figures will likely go still lower. The present figure for 1000 cases water-whit 9 oil, packed 2/4 Imperial, delivered to vessel, is 8^ cents per American gallon. The shipments during the past 30 days have been very heavy. This applies specially to Melbourne, the clearances aggregating 151,500 cases. We do not think it is possible for these heavy shipments to continue, and certainly if they do very low prices must rule in the various colonial ports. Under these circumstances we fail to see how it is possible for anyone at your end to encourage opposition vessels to ba put ou or continued supplies either by purchase or consignment, as it must simply mean a heavy loss to whoever may be interested in the venture. The regular loaders are endeavouring to be as conservative as possible and not pile up supplies to injure the regular importers and those who place indents with them, but naturally if their hand is forced, and to some extent by those on whom they should depend for support, there is nothin? for them to do but uphold their position, and they cannot be found fault with if others are to some extent the chief sufferers. Turpentine — This article has been a very fluctuating one. After prices advanced to 40 cents there was a sudden turn and a rapid decline to as low as 35 to 36 cents. The market has since rallied and is at present firm at 37 to 37 \ cents. The general expectation, however, is that we shall again see lower prices within a few weeks and quite a reduction by May-June. Oysters — The market is very firm ; Kennsett's Imperial nominally 75 cents, although with firm offers we think we could buy slightly under this figure. Le Brun brand, second grade, is 67£ ceL.ts. Vessels Loading — Doris 1265 tons for Dunedin and Lyttelton. To sail about April 29. Cleared — The barque Firth of Lome cleared New York for Dunedin and Lyttelton on March 22. She has 6500 cas3s kerosene for Dunedin and 5000 cases for Lyttelton.