COMMERCIAL.

New Zealand Herald, Volume LV, Issue 16982, 16 October 1918, Page 5

COMMERCIAL.

* GOOD RETAIL TURNOVER, PRODUCE MARKETS ACTIVE. The wholesale houses report business rather quiet, and buyers are now beginning to hold off until they can book for next month's account. The heavy overseas arrivals of last week are still rssponsible to extra deliveries of lines that wore formerly in short supply, but otherwieo there is little fresh to report, Retailors report a good turnover. Hardware is quiet in building lines, although a few residences are occasionally being contracted for. . Money: The bank returns for the past quarter confirm the general impression that money is exceptionally plentiful, and the figures serve to partially explain the heavy buying that has been so marked a feature on the Stock Exchange lately. Whatever high opinion may be held regarding the good value of the big stocks principally effected, the advance in the market would have been impossible without abundant funds in the country, and this position is clearly revealed by the latest returns. The average excess ol deposits over advances and discounts during tno quarter amounts to £4,123,674, and, although this is by no means » record, even for the September quarter, it is a huge amount when read in conjunction with Government deposits at £9,013, The noto circulation, averaging £6,235,344, has only once been exceeded, viz., in the Christmas quarter of last year, and the general tendency is clearly towards an increase. Against this, however, the coin and bullion is steadily moving upwards, and the £8,149,798 for last quarter has only once been exceeded. Produce: fhc markets are active, with Blocks of Southern produce very short in several lines. The shortage of coastal shipping is Bill! causing anxiety to local merchants. , ... Potatoes! The market is now beginning to cause a littlo anxiety, as it is very doubtful whether supplies will bo sufficient to last until the now are ready. Price has advanced to £ls 10s per ton, and it is hardly likely that this is the limit, as vory few are offering in the South. Onions: Canadian and American onions are keeping the market well supplied. Quota* tion is about 358 to 40s per case, and the high price is naturally limiting tho sale, especially as other fresh vegetables are rather plentiful at reasonable prices. A few Australians aro still selling at 30s per cwt, but no more are expected. Oats: The market keeps very film, and the price is only held within bounds by tho e°°d. stocks still in local stores, Quotation lor best feed stands at fls 6d ex store, which is not really on a parity with Southern values. Arrivals have been much smaller during tho last week or two, bo that stocks are now beginning to work down, although it is re-, ported that tho demand is rather disappoining Seed Oats: A few are still selling, but most of the planting appears to be over. Stocks are vory light. Wheat: Good quantities of Australian milling wheat have been landing during tho last few days, but arrivals of Southern will bo negligible for the rest of the year. Fowl wheat is coming to hand in moderate quantities, the quality showing no improvement. A fair sample is worth 7s fld ex store, but there is very little really prime quality to be had. „ , Bran and Pollard: Both remain scarce, and arrivals from the South are too small to help out the local production. Chaff; The scarcity is causing considerable anxiety, supplUa of good quality being exceedingly low. Nominally, best Sputhern is worth up to about £l6 per ton. . but no quantity is to bo had at any price, and consumers are taking what they can got. Very little local is coming in, and the prospects are not at all good for the next few months. Maize: Arrivals have been about the usual quantity, but the reduced demand is keeping too tone of the market easy. Basis price is 7s on the wharf in wholesale lines. . Grass Seed: The spring sowing in the South is causing a littlo business in grass seed, and this is reflected here, but the ordinary demand for local farmers iB very Fertilisers:' Several small 'lots of Sydney bonedust have sold well during the past fortnight, and stocks aro again. low. It is expected that limited quantities will occasionally bo available from Sydney, whenever space can Be obtained., ihe chief trouble is to get supplies of Calcutta boneKauri Gum: Market remains about the same, with a fair demand for any good quality coming in. 'Heavy stocks are hejd locally, although every opportunity is taken to export to America. SOUTHERN PRODUCE MARKETS. [by telegraph.—pbess association.] y CHBISTCHURCH, Tuesday. Business-in the .local, grain and produce market consists mainly infilling late orders for this ; season's sowing. There is practically notkimr doing in gram, .and there is limited business 'in ottsneat chaff. The potato market is again quiet. • Inero are not many potatoes offering, and at the same time thoro in little inquiry in view of the fact that a further supply of Australian, potatoes is expected in the North Is.and in about 10 days' time. Merchants are therefore only Buying to fill any immediate orders, which are limited. The price still remains at £9 10s to £lO at country stations. HIDES, SKINS, AND TALLOW. Messrs. G. W. Binney and Sons report:— Hides: Best cow. IOJd to 101 d, medium 9d to fiidi scored 7id to Bjd, out 6jd to 'id, damaged Eid to 6d; ox, extra heavy, 12d to 12} d. heavy lid to llid, medium 10id to 10! d, light 9}d to 10a, cut 8d to 81 d. damaged Old to 7d; yearling, 9d to 9{d; cut 7ld to Bd. damaged sjd to 6d; calf, good, 10a 10 18d. medium 14d to 15d, heavy I2d. to 13d. cut 9d to 91d; horse, 9s to 10s, medium 8s to 8s 6d, small 5s to 6s, cut 4s to 4s 6d. Tallow: Casks, beet, 35s per ewt medium 33s 6d to 34s- ordinary 32a 63; tins, best, 335, ordinary 30s, dreggy and burnt 275. Bones: Good, cry, £7 10a to £8 a ton. ; —j~.