COMMERCIAL.

Auckland Star, Volume LII, Issue 214, 8 September 1921, Page 10

COMMERCIAL.

THE MARKETS AT A GLANCE. HEAVY FORWARD BOOKING. Auckland "Star" , Office, Thursday. September 8, 1021. 'Activity in the grocery trade is certainly ■growing, and a more healthy tone exists, ■this undoubtedly being due to the firming of values and the advent of spring. The main feature connected with the trade is the remarkably heavy nature of lmokings for Xmas specialities, and merchants are endeavouring to increase their indents, a liy no mean-s easy task, and in most instances higher costs are being asked fur fun her business. The shops already are "bringing Xmas business before the public, more than one of which are running Xmas 'lulrs. -Prices continue steady, although bacon again figures on the up list. The advantage «f forward buying for Xmas trail-' i-i Imniis mit this week, one local enrer having advanced hams one penny per lb, this representing one penny per lb over wha: Xnmx Iwokings have been covered at. Trei. Qua'.iiv tons at .primary markets continue t.i maintain late high rates, and iidcle,i to i his Is the news that good kinds am scarce, ami at to-day's values it certainly seems that local packers will be ■tttupelleil to advance their cost for the •better classes. I'oorer kinds are easy to obtain, with values weak. Veanuts.—New season's are being quoted for shipment, with the market firming. A reliable authority mentions that prices will g-.i higher, particularly in the better tiualiity. It is 'exceedingly difficult to obtain olTerincs and supplies, as America is offering high prices. Also the rapid, rise in Chinese, .lavu and Indian exchange is forcing costs up. Vestas. —iA good consignment of English vestas in tins has arrived this week, but on account of the bare market for some considerable time, forward booking has resulted in practically the whole shipment ■being distributed to these coverings. l>eel.—Citron and ornuse are practically unprocurable, but lemon is in ample snpply. ■For bakers a cut .peel is now available, and not being crystallised is at a much cheaper figure. Salmon. Tinned.—The quotations for new season's cpack, which are mentioned for delivery next month, show a reduction on ail pinks and common tfinds. but the rates ifor /Choice ahow little change, Sockeyes ■t>eing particularly scarce. Cohoes show .1 slight reduction. A popular brand of Alaskan red reappear* on the lis-t. Tarns.—Cheaper brands have appeared on the market in lib and 21b tins, and are Men-Ings.—With stocks of English available, 'the Canadian are neglected, aud cut rates are being resorted to to clear lines. 'Hardware. —An improvement is very evident in all branches, undoubtedly due to the activity in the building trade. This has considerably improved, both in town and country, and it is anticipated that the improvement will continue now the winter is over. Paints and oils also are in better POTATOES FIRMER. Contrary to expectations the market for potatoes has finned since last report. Quotations for lines are now far in excess of those asked by holders a week ago. Still the price is lower than usual at this season of the year. As the local crop of potatoes iriil be smaller this season, add planting iras later, supplies of old from the South ■will be needed for a longer period man usual. Stocks held at the moment are not heavy, and it is understood the vessel now loading in the South r<lll not bring more potatoes than are required to flil this mai kefs immediate needs. The consumption of potatoes continues very heavy in Aucaland, and this will no doubt be the ease ■wnile prices rule low. The outlook now is that higher prices will be asked for potatoes from now on till the new local crop is ready for market. SEED POTATOES. In spite of the weather being so suited just now for potato planting, merchants report a very small demand this season. This means that a much smaller area has been planted, so that new potatoes are likely to be a luxury this season. OXIOXB. On the local market onion? are dearer owing to the fact that so late in the season the lines imported from Melbourne nave now to be repicked, which adds considerably to the cost of those lit for sale. Merchants now run a heavy risk In importing this liae/mw the expenses -nil.-round are heavy enough without the loss entailed by re-picking shipments. Still this market will have to depend on supplies from Australia until the Californlan onions arrive about the middle of October. MAIZE. Large quantities of- maize have been sent up on consignment from the coast. The result is that heavy stocks are in the shedß. on the wharf, and also in stores, for which difficulty is experienced in selling, even at the low prices now ruling for this grain The trouble is that a lot of the new maize in still too soft to be safely stored, and the result is that consumers are only buying sparingly, having no fear of the market advancing. When the supply exceeds the demand. It necessarily follows that sales are difficult to effect, even at decreased rates. The Australian market for maize nas advanced, so that further heavy importation from that quarter is not likely to take place. The outlook as that the high values which ruled last season are not likely to be reached this year, owing to snch large quantities of local maize bein~ available. SEED MAIZE. This line is meeting with a little inquire for sowing for green feed iv the summer. Indications point to seed maize being higher in price this season. GRASS AXD CLOVER SEEDS. Merchants report that a demand has set in for grass and clover seeds, and so far is larger than was the case last year. This, however, only applies to dairying districts, as according to all accounts the area of Tiush felled was much smaller this winter so that the demand for surface sowings after burning off is not likely to be a large one. OATS. The market for oats is reported steady at late rates. Stocks held locally are on the light side, and the arrival of the AVingatui with further supplies is now awaited The demand locally is still small. As there does not appear much hope of export of oats from the South, there should be any quantity available to meet the whole requirements of the Dominion. It is reported that owing to the low price of oats as compared with wheat, some growers are planting the latter grain more largely in the South, and this may affect the position next year There is no doubt that owing to the great increase in motor driven vehicles the demand for oats is decreasing each year. This is particularly noticeable in Auckland, where the motor van is rapidly replacing the horse and cart in carriers' establishments. CHAFF. •Since last report the Eanna arrived at Auckland with o cargo of chaff from Blenheim. The quality of the shipment was good, and the hulk of the chaff was sold for delivery direct from ship's side The Kini is on the way up with chaff from Picton to Onehunga. As the Rangitikei district has now been about cleared of chaff Auckland merchants will require to draw future supplies from Blenheim and Canterbury. The chaff from the latter district is reported to be of excellent quality this season. BRAX AXD SHARPS. ■Both these lines are in very short supply. At this season of -the year a shortage of bran is not such a serious matter unlessa drought sets- in, as green feed should be plentiful, but sharps are badly wanted. Owing to the embargo on the importation of ■wheat •products, bran and sharps cannot be imported from Australia at the present time. FOWL WHEAT. This line also is very short, and importation is still prohibited in the interest of wheat growers in New Zealand. Local merchants find it almost impossible to get any supplies of fowl wheat from the South. Fortunately maize is plentiful and cheap, but as soon as the hot weather sets in this grain will not .he the most suitable food for poultry, as it is too heating. BUTTER. The -price of butter has been advanced wholesale one penny per pound, which is rather unusual at the opening of the season. This rise is due to termination of the payment of the butter subsidy by the Government, the market being now free of the restrictions imposed djiring the war. The retail price Is now 2/3 per lb for cash, and an extra Id when booked. The market for butter in London is reported not quite so firm as it was a month ago. EGGS. •Supplies of eggs are now coming in freely, and. the price las dropped to 1/8 per dozen wholesale. MANURES. Since last report, the port Lyttelton arrived with small shipments of basic slag and kainlt, wWch were already sold for

forward delivery. Toe Calcutta, steamer with, bonednrt is nmntag late this time. ami will not be due here until early In October. Mean while this market is drawing supplies from Australia. WHOLESALE CURRENT PRICES. Farm and Dairy Produce.—Creamery lintter 2/21 Per lb, less rebate for prompt cash; farmers' separator, 1/0 to 1/10 per '1b: export'size 1/2J,' loaf 1/6 Ib; dairy rtieese! 1/3 per lb; hams. 1/1 per lb net: bacon, 1/1 per lb net; !ard. bulk 1/3. pats 1/1; margarine, bulk 3/4. pats 1/6; honey, prime grade 10(1; eggs, 1/8 per dozen wholesale. Flour, £22 2/6, les? discount of 2} per cent per ton, in 2001b sacks', sharps, £10 10/; bran, £7 10/: oatmeal, 255, £20 per ton. Grain. —Oats. A grade, 46 to 4/7 per bushel ex store: Algerian seed oats, 0/; maize, new 5 .'.!. old l> 'C; wholesale lines, ex wharf. Chaff.—Best Southern, £9 10/ per ton ex ■tore; local, £S 10/. Potatoes, £3 10/ to £G 10/ per ton for best Onions. —Good quality, 11/6 per cwt. ACTIVITY IN GOLD MINIXO. Alt hough so far there has not been much land, still the fact that the market price of this metal Is now about £."> per oz. is expected t<. result in more activity in this industry in the near future. The "Army and Navy Gazette" of .Inly ISth lias a paragraph which opens: •'The steady rise in the value ot gold cannot fail to have a very important and far-reaching effect on all gold mining shares. The general advance iv prices may lie delayed, and the boom may not come as speedily as many of us desire or hope for, but sooner or later a boom in gold mining shares Is inevitable." In the Auckland district, although there has not been any move in mining shares tTn "Change, still a lot of steady work is going on in various mines. The Waitatn mine at Kiviotnnii h-.is» opened up a reef that is looking verry well, the stone showing dabs of gold. The Sylvia mine jS now crushing payable ore at Tararu, and at Thames the Evening Star. Pinafore, .'md St. Hippo mines are all getting stone carrying gold. At f'oroniandel the Jlanraki Company is steadily working on Ledge's reef and had a crushing return since last report. OX CHANGE. Business is quiet on 'Clinnge this week, but although values all round are wellmaintained, the actual business transacted appear any disposition to reduce prices in order to effect sales. There is less demand this week for Government War Loans, and it is not expected business win show much, improvement for the rest of this month.