COMMERCIAL.

Auckland Star, Volume LIV, Issue 267, 8 November 1923, Page 10

COMMERCIAL.

THE MARKETS AT A GLANCE. GENERAL TRADE IMPROVEMENT. tapiocas msixn. "Auckland Star" Office, Thursday, November S, 1023. The markets on the whole are dcridedly more steady, and there lias not. been .uiy very decided fluctuations for snme time. Foreign exchange is an item thai Is very particularly retailors. :ire operating. The lower sterling rate now ruling will have a very pronounced effect on Canadian and American uonds by increasing landed costs of roods now in course of shipment. DRAPERY. Whi.l..sal.- houses siill report business continuing quieter than usual for this time i.l the year. but. on the other band. rctailer< have experienced a decided improvement in irade within the past few weeks. The approach of warm weather lias caused a general demand for summer .■l.,thing, and as a result, most of the shops present quite a busy appearance. mc "specials" advertised by some firms as an Inducement to sbuppers to do their buying on Friday uisht instead of Saturday morning seem" to find favour, and particularly " W tl business in tliis respect 15 rv-porteil. Coloured Linens.—At the begiuning ot the season it was thought there would be a shortage, as some colours were out of stocK. but shipments nnvc come forward now and ;imple supplies are available. Sponge Cloths were iuilined to hang at The begtnning of the season, but the arrival of new patterns and colours has enabled such an attractive range 10 be shown that quite a brisk demand hati set in. l-'ujl Silk.—The rumour of much higher prices, and some colours being off the market. Is apparently without foundation. There jiig custfi, but nothing to what was at first expected. Orders are now in hand at the manufacturing centres, and heavy shipments arc expeeteil in the New Year. Buyers will probably experience a shortage of "some grades and colours on spot, but this will be ouly temporary. 11.11 Kit RlflT. Smyrna sullnnax arc i|iioteil on a firming market, fri.es for .latiiiary-l-Vbriiary Khiiiinems arc ill - per cwt advance on last advices, while it is thought that further rises may be expected. November jind December quotations are unaltered at present, and buyers should accept the opporlunitv as indent prices are now lower than they have been for some time. Greek currants are holding steady and prices are Apricots.—Callfornian ai-p very firm, and present' indent rates represent an advance «f 13/ per cwt over opening quotations. It ■was reported that the apricot crop was very heavy, hut later reports did not bear this out, and now it is definitely advised that the actual pack represents only 50 per cent of last year's output. Small shipments of South African arrived a few weeks «go. to try-out this market, and it ik now reported that this shipment has all been sold. The packers' grading was particularly good, and quality was superior to Peaches.—California!] are recorded at :i slight advance. South African are steady and good sales are reported. Itaisins.—The market for Thompson's soda, sulphur and oil bleached is a little weaker, as cables indicate that, packers aro offering shipment for December at a slight decrease on previous prices. Seeded carlons are steady, and n<l change is yet rebulk Thomi>sons. Prunes.—Oalifornian are firm, and the market is considered to be in a very healthy condition. iteports from various packing centres indicate that only normal stocks are being carried. The Culitcirnian l'rune Growers' Association, in a recent bulletin, says :—"There has been a drop of Ki.OOU.UOu pounds, making the latest figures of the yield 130,000,000 pounds, and the 11122 prime carry-over has been cut domestic markets, and a rapid acceleration in export sales." The Oregon crop is estimated at 43,000---000 pounds, with a carry-over of 5.011U.U00 pounds. The \:rj-2 tutal prune crop was ulO.uoij.OOu pijunds, against 225,UU0,0110 pounds expected in 1U23. a shortage of So,UUO.OOO pounds. SALMON. Some grades of new season's are being quoted at firmer prices. Cohoes are listed at 1/ and ]/tf per case advance on opening prices. Other grades are unihangeil. One of the most prominent canners who packs for X'ew Zealand trade. advise the withdrawal of Cohoes lib flats owing to being sold out. C'UE.VM 01- , TARTAK. The local mnrkct*has been very quiet for some time, owing 10 heavy stocks being brought forward in expectation, ot higher rates of duty and higher*, costs. So me holders, for financial reasons, could not hang on, and there has been considerable cutting Indent quotations for British have advanced £3 per ton within the past lew days, und French and American shipments will laud at much higher costs owing to the present exchange situation. As a result, stocks an- being held more firmly, win merchants endeavouring to recover CANNED Flit'lT. American packers advise that this rear's opening prices were so low in comparison with Prices obtaining the past few years, that increased American consumption is aii assured fact. The pack of canned apricots is reported as being only half of last year J each and pear packings not fully "completed, but stock will not be abnormal Some packers have since advised that second - 'Jimmy ding peaches are sold out. rOTATOISS. Slocks of old Southern potatoes are now üboiii exhausted, and what are left in ?, l TiV c IKn -' " rowi "fc' rapidly owing to thej lateness of the wanon. It will not be long now before this market will be supplied with the locally grown potatoes, winch a re now coming in more freely. It e.f Potatoes is looking eseeptiona"lT well 1! autl the yield promises to he at least up to that of recent seasons. Old potatoes freJ.lekedj are ouoted at £ f) 10/ to a 10 per Kin for red, and an extra 20/ per ton for good white varieties, which are more popular iv Auckland. New potatoes are selling 111 fruek loads at l'ukekohe at from i: 1.l to £ 21 per ton. tlie/jirice depeudin" of course upon the size of the tubers. Some growers of potatoes liaveijeen sending in potatoes for sale 011 consignment, but the price realised in 'Auckland was less than iliat offered by buyers at l'ukckohe. Sending in 011 consignment is always a rather risky proceeding, as it tends to disorganise the market and cause prices to recede. ONIONS. The market is much barer of onions than it was a week ago. The Victorian onions arc about done, the last lot, not having proved a payable venture for importers. The onions from the United States are in first-class condition, but the jirice has firmed a little since last report. As it is not likely any further lots of onions wilt be brought stock here will have to keep this market going till about Christmas, when some of the new local crop should be ready for market. Prices for American onions may show a further advance before Christmas. The new local crop in the Auckland district Is sbapnig very well this season, the recent MAIZE. The market for this grain continues very firm, but prices are unchanged. One reason for this is that shipments latterly have been very light. It must, however, be recognised that much less maize is required for fowl feed during the hot iveather. In the absence of larger shipments of maize, prices will, however, con11nue firm. Only small lots of maize ure coming forward from GlSUuruc, OATS. An exceptionally lirui market is reported for oats at the present time. This is due lo shipments having been made to AupIralia. The Whaugape tool: 7000 sacks of A and B grade oats to Sydney. Whether or uot the buying Tor Australia will continue depends entirely upon weather conditions over there. As a consequence of Uie buying of oats in the South for the Australian market values have firmed considerably in oat growing centres. As far us the Auckland market for this grain is concerned merchants In Auckland appear content to still do a hand t<l mouth business, as if the rains Si?t in oil the other side the market for oats here would promptly ease. Supplies of oats held to meeting the requirements of this market. FOWL WHEAT. An easier feeling prevails in the market for fowl wheat. This is considered to bo due to Southern holders of fowl wheat having to clear their stores to make room for the wool clip. For that reason some holders are prepared to shade their prices in order to quit stocks promptly. It 1s thought, however, this is only a i-mporarv rasing of the market, and that prices will linn again until next harvest is ready for market. CHAFF. A firm market exists for elinff The Corlnnn arrived from the South since last report with shlpnmnts nf chafT for Onehnnga, the whole of which had been already sold for forward delivery. Tlie

reported advance in the price of chaff on the Australian market lias had the effect of causing higher liru-w being asked by' Sonthern "holders of chart fer forward delivery. SEEDS. Farmers are evidently preparing for a hot suninier, judging by tlic sales of seeds | id produce green feed later in the summer. : l.irge quantities of Hickory King anil | Ninety Days seed maize have been sold, in addition to Japanese millet. The demand for turnips, mangolds and swedes Is also setting In to provide fectl for stock uext wiiii er. EGGS. Iloavv supplies: of ojrps continue to keep prices down, Piick eggs are very plentiful. With the advent of hot weather, tjie supply or <- ?S s may be expected t.. Uvereatiu when setting begins. VriIOI.ESAI,B CI'BUKNT PKICES. Farm ami Hairy Produce.—Superfine creamery biitt.-r. 1 l>9 per Hi for prompt cash; first grade iputs), 1 ti: second grade. 1/4; farmers' separator. 1/ to 1 -. Cheese, first grade, fiictnry. medium size. IfM.J lo 1, |>er lb. Hams. .1 :: per lb; bacon. 1/3 per lb. Lard. bulk, lid: pats 1 . llonoy, prime grade, sections, t>3d lo Old. Kggs. hens. 1, per dozen. Flour £17 "' ■ less -5 per cent discount per toil in 2001b sacks : sharps. t"s JO. : bran, td ID : oatmeal -os. £20. Grain.—Oats. A grade, 4 1) per bushel, H grade. 4 t> ex store; maize, <i' bushel, ex storo: seed maize. Hickory King 11/fi, Ninety Days 10 per bushel; fowl wheat, 7/1 per bushel. Chaff.—Desl Southern, £11 to £11 5/ Unions.—Australian, £12 per ton; American. 27/8 IOOIb case. Potatoes.-—Best quality, white, ilO to £10 10/ per ton. red, £0. MANURES. Heavy sales are being made of superphosphates. Bonedust continues firm in price, but it is likely that basic olag may rule lower in price uext year. OX 'CHANGE. Although the weather has been warm. there seems to have been a frost on 'Change as far as Government war loans are concerned, A few weeks ngo these lines were very popular, but latterly buyers have almost entirely dropped out. excepting in respect to the 3 per cent issue, for which fllS is still offered. Holders have reduced their price 5/, but this did not lead to business The 4} per cent loans are not now asUed for at more than £0G 10/. and yesterday even this offer was not repeated, neither buyer or seller quoting. Soldiers' loan also eased, sellers being wiling to do business at £101 0/. New Zealand Breweries debentures are still In request at i'lOl 10. but sellers want another 10/. Union Usiik shares are a shade firmer this week, being wanted at £14 17,6. while National Banks were placed at £0 10/, and Hank of New Zealand new shares at 40/ C. an extra shilling beiug offered for the old issue A transaction was reported this week in P. aud O. deferred stock at £oOS, after which buyers dropped out. Auckland (las old irisue were a shade easier, belug offered at 2.">/G. but sellers of the II paid up still ask 3/C. Wellington Woollen shares firmed to buyers at £9 1' for both Issues, but uo seller quoted. An advance also took place in Unfon Oil shares, for which buyers now offer 37/ G. The demand continues steady for all timber shares at last week's quotations, but sales are few and far between. The Bartholomew Timber Company declared a dividend, payable on the lOtli Inst., and Wilsons Portland Cement, Oil per share, payable on November 2S. AUCKLAND STOCK SALES. Alfred Buckland and Soup. 1.;.;., report:— At the Haymarket on Friday last we had an average yarding of horses. Aged draughts hromrht- fm-n £21 10/ f> *24 10': medium draughts. £24 to £3t in/; farm horses. £20 to £2. r >: gig pouies, £7 10/ to £13 10/: hacks. £10 to £12 10/. During the week we held sales at Westfield. Waiuku, and Man-o'-war IJay, Wan heke. The"-- were full yimlluEH -t eneli centre. Ail classes of store cattle arc easier in price. Sheep continue to be in keen demand. Best dairy cows at profit. £12 to £10 5/; good cows. £0 10/ to fll 10/: second grade cows. £7 to £!l; others. £2 upwards; best springing heifers. £S 10/ to £11: $cood average uejfers. £5 to £S; small heifers. £2 10/ to £4 10/; empty youne cows. £1 10/ to £2 10/: store cows. £1 to £1 10/: forward-conditioned four-year-old steers, £5 to £G 5/; three to four-year-old steers, £S 15/ to £4 15/: two to three-year-old steers. £2 15/ to £3 10/: yearling to two-year-oJd steers, £1 15/ to £2 in/; calves. 15/ to £1 10/; "fat cows and heifers, £2 10/ to £S ."./: small fat steers. £7 to £S 15/; forward-con<!:i;or>ed wethers, il 9/C to £1 11/; two-tooth wethers, £1 1/ to £1 6/. The Xew Zealand Loan and Mercantile Agency Company, Ltd., report:— We held sales during the past week at Westfield, Ngatea and Papakura. cattle pecially at Papakura. where we had a record yarding of 2358 head. Contrary to expectations, the dementi was 20011 throneiiout, and although price's were easier than last month's sale, the majority of the cattle penned changed hands at values very satisfactory to the vendors. We quote: Grown steers in forward condition, sold at. from £(! 10/ to f7 17/: 4* and 3-year steers. £5 15/ to £0 7/0; 3>. to 4-year steers, £5 to £."> 12/fi; 2$ tei 3-year steers. £'t 17/<:- to £4 17/G; IS-months to 2-year steers.' £3 to £Z I.V: yearling steers. £1 15/ to £2 17/G: yearling heifers. £1 10/ to £3 5/; odd pens of Jersey yearling heifers. £3 15/ to £C; empty 2-year heifers. £2 10/. FAT STOCK MARKET. Alfred Buckland and Sons, Ltd., report:— market wo penned beef to the number of (i? 7 head, comprising i 64 steers. 162 cows and heifers, and one bull, the quality generally being first-class. There was steady demand throughout, with values firm at last week's quotations. Extra choice ox sold to £1 12/ per 1001b: choice and prime ox, £1 »/ to £1 11/; ordinary and plalu nx, £1 3' tn £1 7/: prime young cow and heifer beef, £1 4/ to £1 7/: ordinary cow beef, 18/ to £1 3/: rough beef, 5/ to 12/; extra heavy prime steers ranged in price from £15 10/ to £10 S/; heavy prime steers. £13 to £14 10/; lighter prime steers. £11 to £12 15/: light prime steers, £S to £10 ].">/: unfinished and small. £4 to £7 15/; no extra heavy prime y-oung cows and heifers penned; heavy prime young cows and heifers. £S to £!l 1,5/; U'.'hter. £t> to £7 I.V: other cows. £2 to £r, l(l/ ; bulls. £1 to £4. Sheep were penned in full numbers. The demand was less keen. and values were slightly lower. Extra heavy prime shorn wethers. £1 17/6 to £1 10/0: heavy prime shorn wethers £114/ to £1 16/0; medium to heavy prime shorn wethers. £t 11/ to £1 13/ i): light prime shorn wethers. £1 0 to ft 10./O----heavy prime woolly ioggets. £1 14/ to £1 18/6: extra heavy prime shorn ewes, £1 S/ to £1 10/; heavy prime shorn ewes, £1 5/ to £1 7/r>: lighter fat shorn ewes. £1 -J/ t<j n 4 « (IR2:< unldV Snrini lnmha tnr'ill=rl MS. and sold readily at last week's figures Heavy prime. £1 8/ to £1 12/; lighter prime £1 4/6 to £t 7/0; light prime, £1 2/ to £1 4/ small lambs, 17/ to £1 1/. Fat and young calves were penned in average numbers values for all classes remaining firm al late quotations. Runners brought from £1 1(1/ to £4; heavy vealers, £2 !)/ to £3 10, . medium vealers, £1 8/ to £2 2/: light veal ers £1 7' to £1 T6/; small and fresh dropped, 2/ to £1 (220 sold). Pigs wen penned in more than nrraw num"pr= pric»s for all classes showing a sharr decline on late quotations. Heavy bacon ers £3 18/ tn £4 17/; light and mediun li-iconers. £3 to £3 15/; heavy porkers, f. 10/ to £3; light and medium porkers, £1 IT./ to £2 (5/; store pigs, £1 to £1 IG/ (307 sold). Dalgety and Company, Ltd., report h.iv in" held their usual sale of. fat stock til West Held on Wednesday. Uccf, —Another heavy yarding sold undel Steady competition at late rates. Kxtrc choice ox 32/ per 1001b: choice and prime °7/ to 30/: plain and unfinished beef, IS/ to 20/: prime young cow mid heifer, 23/ to 20/ per 1001b; others. 15/ to 24/. ijljeep —A heavy yarding: prices wen easier. Heavy prime woolly wethers, t< £2; extra heavy shorn wethers, to £1 1!</ medium woolly" wethers, £1 12/ to £1 10/0 medium shorn wethers, £1 1)/ to £1 .12/ heavy shorn wethers, £1 13/ to £1 lti/; n< woolly ewes yarded; heavy shorn ewes, ti £1 10/; medium shorn ewes, £1 C/O to £ 8/! far woolly hoggets. £1 S/0 to £1 11/3 others, to £1 in/. —- Lambs. —An average yarding. price: about on a par with late quotations. Rest to 33/; good. 2S/ to SO/; light. £1 1/ t< £1 5/; small and unfinished. 18/ to £1. Calves. —Large yarding, prices about tin samp as last week, Itunners, £2 0/ to £4 heavy rralcrs. £2 7/ to £3 5/: meillnn £1 18/ to £2 .-./: light. £1 ::/ lo £1 15/ small and fresh-dropped. 3/ to 8/ iMbs.—A large yarding, prices being con siderably easier. Choppers. £2 v, £3 10/ heavy baconers. £4 10/ to £r. 5/- medium f3 13/ to £4 10/: bacouers and hean porkers, £4 to £4 10/; porkers, £2 to £3 3/.'

The New Zealand l.onn and Muronntilo Agency Co., Ltd., report:—At WestfieM fnt stock market on Wednesday beef was penned in average nuufliors. Competition was steady throughout, last week's quotations boinjj easily maintained, and in some oases exceeded. We quote: Extra ehoicr oxen to 32/ per 10(ilh: choice and prime oxen, 27/ to 31/ per 10011); plain and unfinished oxen. 211/ to 2U/ per 1001b; prime cow and heifer beef. 'I'!/ to 127/ per KWlli: other cow beef. 10/ to 21/ per 1001b: roush beef. 10/ to 15/ per 1001b. Nu extra heavy prime steers were penned. Heavy prime steers. £10 to £11 17/0: medium, £S 15/ to £'■> 10/; li;rht. £7 10/ to IS 12/6: smaller nud unfinished steers. £5 10/ to ±7 r>/: heavy prime cows and belfers, £0 to £7 ,V: medium, IT> to £~> 17/ti; liKht, f4 to £4 15/; inferiorly fatted tows. £1 10/ to i' 3 15/. Calves were OBalu peunetl in large miinbcrs. and sold at late quotations. Runners, £i !">/ to £4 17/t>: heavy vealers, n 12/ to £3 S/; medium j vealers, CI to £! 10/; lisht vealers, £1 5/1 to £1 18/: smaller. 10/ to £1 4/; small and' tresli dropped, o/ to 8/; rough calves, Vl/ to £1 S/. mil sold at scarcely late quotations. We quote: Heavy prime wethers. £1 14/n to £1 10/; medium prime wethers, £1 1-/ to £1 11/6: lißht prime wethers, £1 10/o to £1 11/0: unfinished and small wethers, £1 6/ td £1 10/; heavy prime ewes. £1 10/n to £1 13/; medium prluiu ewes, £1 0/ to £1 ID/6; liplit prime ewes £1 7/6 to £1 S/0; irinii! liogcet.s, £1 n/6 to £1 11/; medium I inferiorly fatted ewes. £1 3/ to ±1 7/: heavr I prime hogpets, £1 !)/G to £1 11/; medium irime. liujrgets, £1 8/3 to £1 0/3; light prime hoggets. £1 G/t; to £1 S/; unfinished hoggets. £J 3/ to £1 (.>/. Spring lambs penned in average numbers, and were lower In values. Heavy spring lambs. £1 6/ to £1 S/; medium spring lambs, £1 3/6 to £1 r>/6; light spring lambs, £1 1/ to £1 i!/3; inferior and small lambs. 18/ to £1 0/6. I'lgs were penned in large numbers, nnil were considerably easier in values. Choppers, £— to £— 10/; heavy and medium haci>ners. £3 16/ to £4 10/; light baconers nud heavy porkers. £2 15/ to £3 15/; medium and light porkers, £1 IS/ to £- 14/. Store pigs sold readily at late quotations. I-arge stores, £1 15/ to £1 11)/; slips, £1 G/ to £1 13/; wcaners, VIJ to £1 5/. CALCUTTA AND SINGAPORE TRADE. Advice has been received that the steamer Sussex will commence loading during the latter part of November at Calcutta, and will then proceed to Singapore and Samaraug to complete. She is not or February, so direct shipments of sago, tapioca, aud pineapples will be late arriving. JUTE. The market for jute goods has firmed considerably, and sellers for March-April direct steamer are holding for higher prices than for shipment this month. Latest cable information is to the effect that the latter from 1/2 to 1/11 per dozen, according to size. Manure baps 1/ to 1/OJ per dozen, and wool packs 3id to ,'lkl each. Payment Is by letter of credit on London. CITRONEtiLA OIL. * This market lias advanced heavily and spot supplies in Colombo are reported to be nearly exhausted. DESICCATED COCOAXUT. A cable received last week from Colombo advise an advance of I'/ per cwt on both bulk and packets for prompt shipment. It is also reported that the exchange is very firm. Penang grade is quoted a little easier, but the quality is not considered equal to the Ceylon grade. GLOV PASTE. Reductions are advised in five ounce ,lars of (!/ per gross and ten ounce 0/ per gross; o0 ounce and 160's are also reduced. RECKITT-S POLISHKS. Reductions are advised in the following lines: —Zebo grate polish :>d dozen; brasso metal polish, No. (i. Sd dozen; No. 12. l/:i dozen; Silvo silver polish, lid dozen; Mepo metal polish, No. 0, Sd dozen; No. 11', 1/3 dozen. RESIN. Cargoes are being offered for shipment via New York at the end of this month at slightly increased rates. Small quantities came forward a few weeks ago, but quite a number of orders missed the connecting boat, owing to strike troubles. NUTS. Bnroelonas.—Genuine Spanish kernels are quoted at an advance of 0/ per cwt on provious quotations. Levant kernals arc, lor the present, unaltered. Walnut Halves are listed on a firm ber showing advances of 5/ per cwt over previous advices. Sicilies are held for a firmer price. Indent quotations are now at an advance of £2 per ton over last advices. .Tordans are also being quoted higher. No alteration is reported in Brazils and soft shell almonds. BIRD SEED. Latest reports advise the total destruction of the Queensland canary seed crop, anil asj a result the market is much firmer,;, with every indication of higher prices. Moroccan has been quoted at more favourable prices, but buyers are not inclined to do much business, and prices are too high to encourage any speculative buying. CIIRYSTALLISED CHERRIES. Australian prices have advanced Jd per lb. as a result of higher values ruling for the unprepared article. ASPARAGUS. Packers of Californtan asparagus are reported to have sold their output, and as no further supplies are available till next season, prices are very firm. Stocks locally are said to be in small compass. EASTERN MARKETS. Preserved Ginger.—fiG's are being offered for November-December shipment at a slight increase on last advices: 14's and 2S's are listed at id lb more than sC's. Spot demand Is slow at the moment, and in consequence indenting is on the light side. An improved demand is expected for December trade, but the height of the season is during February-March, which will give indents on order time to come forward. Selling costs will be higher and there is also the likelihood of a scarcity of imported, as present indents are not heavy enough to supply the coming demand. Local packings are in the meantime unchanged, but as supplies of the raw product have to be brought from China, there is every probability of prices firming. Soy.—lndent quotations are at slight advances over previous rates. Peanuts. —Chinese are reported to be on an easier market, although prices are still too high to encourage buyers to any extent. Unshelled are still high, with no one operating. Java unshelled are considerably lower, but very few buyers are operating, as the smaller nut is not so much in favour as the Chinese. Sea Grass.—-Advances of 3/ per cwt are advised over last quotations. Peanut Oil.—-Indent rates are 5/6 per case i Peppers.—Singapore white and black, and Muntok white are expected to firm. It is reported that this year's crop will be some ■10 per cent less than last season's, and with : any revival of the demand, prices are bound '. to stiffen. Tapiocas.—As a result of the more sus- ! tamed inquiry, indent values are hardening. i Cables to hand this week advise an advance ' of 20/ to 22/6 per ton for either transhipment or direct boat. NUTMEGS. advance of 2d lb being advised by one ' buying house, while another has with- ' drawn quotations altogether. ! MACE AND CLOVES. Quotations are on a par with last week's advices. PINEAPPLES. Aro unchanged at last week's quotations. ■ although it is not expected that the present : low prices can hold much longer, owing to the small stocks available and the steady ■ inquiry from other countries. RICK. Rangoon.—No quotations. Saigon.—Weaker. Slum.—Dd cwt down.