COMMERCIAL.

Auckland Star, Volume LIII, Issue 307, 28 December 1922, Page 9

COMMERCIAL.

THE MARKETS AT A GLANCE. OLJJ TEAR ENDS WELL. TRADX COX'DITIOXS GOOD. Auckland "Star" Office. Thursday. December 28. 1922.

Grocery wholesale houses are closed this week, but will reopen on Wednesday, JanuaFy 4. Trade continued very brisk, right up to the close for tne holidays, and good'clearances were made of lines that! were adapted principally tor Christmas trade. The rstall reports odncernins trade I for this season arc particularly hrigit. and ' although shopping was very heavy during i the whole of Dei-ember, yet the 'bulk of' requirements in luxury lines and presentation goods was left until late. The" wiole of last week saw throngs of people invading the shops, but activity was most conspicuous oa Friday. From morning to Bight there was no rest for staffs: the capacity of which was taxed to the utmost in catering to the demaud. Not only Auckland, but from all centres reports mention the exceptional demand that came at tlie end of the week. There were no events to mar the trend of trade. Market values are good; whereas last year we were feeling the effects of trade depression, imports and export conditions are satisfactory, labour conditions are steady, and the money market continues improving, while the weather has provided gratification to all who are dependent on pastures. The alternation of heat and rain has resulted, in exceptional growth in tne various? crops, and feed is conspicuous by its abundance, i This country is particularly fortunate in conditions that make trade good, for when we view events in European centres we appear doubly fortunete. The weather for shopping last week did not Under trade, for by mid-day Saturday, business was finished.' and the heavy downpour in the afternoon could not affect trade Although it is early yet to obtain returns, yet it is certain that trade this Christmas exceeded any previous call, and shopkeepers are well satisfied with the 'business done. Yesterday saw the reopenins of the retail, establishments, and owing to the- large number of visitors in Auckland shops were weu patronised. Visitors. here usually like to offerings, and the competition here means favourable purchases, so that the shops in Queen Street and other main thoroughfares were kept fairly busyi 'With wholesale .houses closed, prices generally in the grocery trade remain unchanged, but a perusal of overseas mails to hand reveals Brm nature in markets. Regarding 'Bnance. the end of the year shows definite, betterment, a gradual easing in interest on loan moneys nas occurred during the year, and the improvement In la'bpur conditions has helped circulation. Stability attaches to all enterprise at the moment, manufacturing concerns are all at capacity, and are able to enjoy remunerative returns. Raeh competition has disappeared to a large extent ,ln the grocery trade, although price cutting is very conspicuous. Arrivals, during the I week wiU help meet some of the shortages that have been felt, but owing to the hoik days in wholesale warehouses these lmes win not be available until the reopening. Tish and Meat 'Pastes.—The last week or so has seen considerable improvement in demand, although business is principally •for English packings in bottles. Job prices are naming for some hard sellers, but are difficult to quit. Muscatels.—Arrival close to Christmas made it a difficult matter to clear all stocks, although with the exception of two or. turee, all merchants were at>le to quit. Evaporated Fruits—'Frisco advices shotthat supplies will be ample to meet ell culls as far as seeded and seedless raisin? are concerned. "With the heaviest demand now met we would not be surprised to gee lower prices named. <Prunes are in good request, ■but with few to meet demand, howev-er, supplies will stfon be ample for all business. Holdere ere anxiously awaiting a declaration regarding American fruits, sheuM the Government impose the tax for which provision has been made, then holders would be in a good position for 'business. Should no tax be put on. then heavy stocks may be hard to quit. Next arrival is due about the 15th of January, so if tax Iβ imposed, thoss with low stocks will be at disadvantage. Tinned Meats—A healthy inquiry exist* for this line, being very suitable for holK day time, and for camping parties. Tne prices at the moment are the lowest for years, and this is a help to bigger turnover. Sheep tongues e*e -eellinx well with prices unahaaged. Ox tongues, jewaln scarce. ■Sugar. neavler denraM has come from the public, this being Mused by th.c appearance of early, fruits. As ,soa« as the Xew Y,ear bolidavs are over plum's and apples will be in big demand for preserving, and this' will throw demand on to sugar. Cordials. * A heavy demana : *slste, and sales reveal improvement compared with last season, prices being lower undoubtedly helping business. Tinned 'Foods.—Tinned milt.is receiving good -business with price remaining even. A new lne that should enjoy good business is a line of tinned icing sugar ready lot use, Dessert fruits are getting good t>usiaess, although supplies are very short, However, aew arri>-4 s we clMe. Biscuit.—Packings show a much wider raaga than at this period last year, and this combined with'lower prices has helped growth in demand. ... - Dried Fiih.-A small inquiry exists for various lines, but with exception of red herrings little is available. Cod and ling should be here at any time now, aleo salt Teas.— Offerings of cheap bullc locally have almost disappeared, new landings having compelled more- in sympathy with higher costs. A remarkable feature is that packings ha,Te not> responded, with market values, goodftuylng on'the part of traders prior to atlvaevea Das meant a big saving to the public, ami the advantage ha? *>een given to them. English tea packers in some instances have pushed prices up., tor Christmas week continued very bright, although construction was at a standstill owing to the holidays. Arrangements, however, were ma<ln for some.big business for t ! he Xew Year, and as soon as the >"ew Year holidays are over buildings will again t>e very active. Overseas shipments continue to arrive, but little change , is- noticed in costs. POTATOES. There has been no alteration In values since last report. Ample quantities of potatoes are available for requirements, and now that the Christmas rush is over there is not any likelihood of any increase in prices. From present appearances the local crop is quite sufficient to keep this market supplied until the new Southern potato crop is available in MarcU next. ONIONS. There has been no change in the onion market, and prices remain firm, while the quantities of local onions coming forward are still -on the late side. It is quite certain, however, that the local crop will be quite equal to last season's, and in the absence of any export outlet it is likely that low values will rule. It Is still too earl? to know whether any export business will, be done, but cablee on this point are now awaited from America. MAIZE. There has been uo alteration in maize and there Tjavfe been no arrivals since last report. It is 'fully anticipated, however, that higher prices will rule, especially as merchants are now working on store stocks. It does not seem very likely that growers will send up large quantities to sell at the prjc«s recently ruling, especially in view of -the-fact that Inquiries are being received from AuetralU. and that shipments have already been made to that quarter. It is now impossible to bay further Gisborne maize to land at anything like today's rates, and taken all round there is a likelihood of higher prices. OATS. Owing to''tne season the oat market is dull- There is no alteration in f.o.b. values, and at the present time merchants are working on a hand-to-mouth basis. Inquiries are. however, being received for forward delivery to Australia, and already extensive business has been done at above today's values. Statistics are to the effect that "the area in oats is considerably less ■tban last season's area, but on the other band.-it must not be forgotten that consumption Is diminishing every year owing to the extensive and growing motor traction. It is not lifcely. however, that low prices will rule, especially in view of the fact- that farmers are receiving better prices for their other products, and on this account they will be quite satisfied to witnhold their oats frejn sale until better prices are obtainable. CHAFF. The chaff market Is exceedingly firm, and it is practically certato that qyueb higher priced will rule during the coming yeer. From all districts reports are to the effect that the area is much smaller than wae under oats for chaff last season, and the same remarks apply to chaff as to oats. thaf farmers -will bY satisfied to hold $or better values. It is impossible to get taUons for forward delivery at anything

like to-day'? rates, and as far as the Auckland market Is concerned we shall be dependent upon outßlde madsets for our supplies. WHEAT. Toe market for fowl wheat Iβ reported to be weak. All reports are to the effect that there will be ample fowl wheat avall*l jsaijeq e.nosßae jiau eqj mun ejqe ready for the market. Contrary to expectations the consumption at the present time is much lighter than was anticipated. THE WORLD'S MAIZE. DECREASED PRODUCTION. In view of the Australian maize supply position, says the "Sydney Daily Telegraph." Information of special Interest is to hand from the International Institute of Agriculture, Rome. As regards the world's production of maize, the institute statistics of the crop In the Northern Hemisphere state that for the countries responsible for more than 75 per cent of the world's maize production. this year's harvest Iβ estimated at T9l million, metric tone, showing a decrease of 8 per cent as compared with 1921. and of 3 per cent as compared with the average of the quinquennial period, 1916-20.