COMMERCIAL

Auckland Star, Volume LV, Issue 114, 15 May 1924, Page 10

COMMERCIAL

THE MARKETS AT A GLANCE,

TOWN TRADE GOOD

ESTIMATCD SHOUT CURRANT CROP,

Auckland "Star" Office.

Thursday, Mar 13. 1024.

The wholesale grocery trade is keeping up remarkably well tuis month, the slight slackness tbat usually occurs arter the Ist of the monlh orders Lave been tilled, being hiinfly noticeable.

With the exception of Eastern markets, which were showing s-;iis of lower values fur a time, but are v >w hardening again, markets hi gpuertil are not showing any signs of serious alteration uud merchants "are only ordering uunmil requirements. Suburban retailers are experiencing a tious in town that they have considerable difficulty in collecting orders, aud counter trade during the lust few days bus been negligible. OILS. Olive Oil.—The recent rapid rise in olive oil is at present mainly affectng local importations of olive oil in one gallon lithographed tins, each succeeding shipment landing at higher rates. Orders recently continued were at such a high rate that the cost practically amounted to the then local selling price, wuich made an instant jilttration in prices Imperative. There is at present great difficulty in securing shipments from Spain, as. all exporters have to obtain a permit from the Uoverniuent before they can ship. Castor Oil. —Small shipments of English soz bottles just to hand are at an increase of Bjd per dozen for ooz bottles, f.o.b. London. PRESERVING JABS. Cable quotations for Dominion special jars made from flint glass are now listed .■it lower quotations than were available during last season. Pints show a reduction of 2/0, quarts 3/. and half-gallons 3/0 per gross on previous c.i.f.e rates. Ball special wide mouth are also being offered for shipment to arrive about November-Decem- j her next at a reduction of 30 cents per gross on the pint and quart sizes; halfgallons remain firm at last season's prices. PIE FEUIT AND PULP. Pie fruits are moving, good sales of apples, peaches, plums, nectarines, apricots, gooseberries and pears in half-gallon, tins being reported There is quite a demand for gallon tins, but some varieties in the larger size are already sold out and unobtainable. The smaller crops. harvested this year made the canning season shorter, and stocks are at present only lightly held. Supplies of black currant and other pulp lines are good, holders reporting a steady demand. BROWN PAPER. Although the Mataura mills are now working at their full capacity, it is considered that it will be fully two months before all back orders will be executed. Small supplies of 18 and 24 inch rolls arrived last week from the South, and Canadian shipments also arrived by the last Frisco mail steamer, so that all orders with the exception of flat kraft are being executed by wholesalers in full. Owing to the muddy condition of the Southland River, the mill is only able to manufacture 601b kraft, but as soon as the water gets clear again, orders for 501b substance will commence to be executed. CA3IPHOR. Quotations for Japanese camphor in J, J, and one ounce tablets have been falling lately, owing to improvement in exchange. About the middle of last month prices f? eed _° d P er Pound, and last week a further did per lb. Shipments are being made from Japan this month.

MUTTON BIRDS. Although quotations for Tasmanian have been listed, orders received 6 o far are only being accepted subject to pack, as the O n teh J ln Said , t0 be a Poor one and supplies will be limited. Further orders wfil n Ve £°. take thelr cnanc e subject to supplies being available during the latter part or the season. Urgent requirements could probably be secured through secondhands but this would mean much higher prices. STRAITS SETTLEIIEXTS PRODUCTS. Mail peport.—Pening advises Singapore that thwmarket is unchanged, values being well maintained. Suppliers are reluctant sellers for delivery before two months lience, which points to a temporary shortage of ready supplies and to the probability of supplies not coming below their present level. Canadian buyers are again n the market for -Penang grades. The l :^jJfsjL ssusz £ bM tt &ie week under ™ l ™ .•autious in mating quotations, and brokers rMth'X nSf t0 *** to ° mU <* Sg d^thTi ce a s n^| C^s. t0 "' Rice.—Rangoon reports that there Is n . steady demand for Western markets? with n S n ,°, tatl °2 B are unchanged. ?steady at present quotations remain weaiS ber l UotaU ° n s Hare TEA. ThHemf Z^ 66 mJI ", On w£»*' wJfcg? a - b b uwS considered useful. With the exception of Erfnfr 8 «** F° Od Brokenlfwnieh a ?e unaltered, grades have udvanced an average of one half-penny per pound Some tion in' F n n r il w Dg *? 9 e reposed rednS \\m S. £ g s^, tea duties, say that it is y?"' 0 predict how the alteration wm affect prices, but common nondescript teas from Ceylon and India may decline in lavour of Javae and Sumatras. Teas with good character in crop are not likely to be affected as only very limited areas in Ceylon and India can produco theee, and the demand for same Is evav increasine lh ?< fo ?J° wll >S statistics show how Australia, who was previously a larger buyer or Ceylons and ludlaus has turned to other teas, evidently on account- of price. Total shipments to Australia and New Zealandrl\ b x 2 ? Ceylon, 10 Indian, 7 other; 1923, lii Ceylon, 5 Indian, 24 other. Of the 17i million pounds shipped from Ceylon to Australasia, last year New Zealand took eight leaving only nine for the five million people

SHELLAC. As there is a steamer leading Calcutta about May-June, cabled quotations have been advised for shellac in chests of anproximately IG4J pounds each. A reduction of lid per pound is offered over previous lists, which applies to single, threechest, and live-chest rates, NORWEGIAN SILD. Offers of Norwegian slid for prompt shipment are still being made, and while most of the best known brands keep firm others are showing signs of a slight weakness in the market. A cable received from one large packing house advises a reduction of 1/ per case on all their packed PRUNES. A substantial reduction is notified on uO-GO grade, amounting to 0/ per ewt. . DRAINED CHERRIES. English stocks have advanced one penny per pound for all prompt and forward shiDment orders. " WHOLE GINGER. A further advance of £5 per ton is notibfoacaed'g^ler 0 . 11 C ° CMn bleached and un CALIFORNIAN RAISING "roii? B reP ,? rtea the Sunmaid raisin prompt shipment .MS. are to SS^fet

SICILY ALMONDS. A sharp advance of 10/ per cwt took place on Sicilies' at the beginning o£ this week. Prompt shipment supplies arc expected to be short and In conseqnence the market is expected to advance further. GROUND SPICES. English spices have hardened slightly since last report. Cayenne one-half penny per pound, cinnamon, 4Jd per lb, nutmegs ed, Pimento id, and turmeric id per lb. PEANUTS. Owing to extra consignments landing In Sydney, supplies have bjeen ottered at a cut rate for immediate shipment. Indent rates, however, are slightly firmer, recent quotations for Chinese being £1 per ton udviince. HARDWARE. Wholesale hardware houses are finding the demand for general household lines keeping up well. Town and suburban business is good, and retailers report quite an improvement in general counter irade. Ihe next oversea arrival of any nole is the Tuiakiua, from Liverpool, about the end of next week. It is understood that she is carrying a good general cargo, and her arrival will relieve the present shortage on a few lines, which was occasioned owing to the consignments by the Matatuu being delayed to such an extent mrough her accident in the Channel. (Quotations have recently been issued for new season's jelly jara and a 6 indent rates are down 2/B per case, wholesalers are taking advantage of the lower prices by booking their requirements for the season. POTATOES. This market is now fairly well supplied with potatoes from the South. The ehipineut on the Atua is reported to be of flrstclass quality, and there "will be enough to keep the market going until further lots come to hand by the Kauri, now loading at Melbourne. Arrangements have been made for further quantities to come across from Australia to this market. It is thought that from now onwards ample supplies will be available to meet the requirements of consumers in Auckland. It is understood that there is a likelihood that the market in Australia may firm from June onwards, but if it does, there are large quantities of potatoes offering from the South for later months in the year. The Wingatui will bring further shipments of potatoes from the South. Jtt Timaru the digging of potatoes is proceeding, but the yield generally is below expectations. In Southland It is reported that ther,e appears to be a much larger quantity of potatoes this season than has been the case for the last year or two. ONIONS. Supplies of onions are very short at the moment, the arrivals from Australia by the Kawatirl being rapidly distributed. This market will, therefore, .depend upon supplies to arrive in about a week or ten days from Australia by the Kauri. Practically no Southern onions are reaching this market. It is likely, therefore, that hlgll prices will rule for onions until the next Auckland new crop is ready, which will not be much before January. Cable advice from the United States indicates that prices there for onions are likely to rule much higher for August-September delivery. • MAIZE. "Values for maize are unchanged since last report. There have practically been no arrivals from the Kast Coast since, laet report. Owing to an advance in the price of maize in Australia, it is not likely that further lots will ■be brought across from that quarter. Reports are, however, to the effect that the crop of maize in Australia this year is an exceedingly good one. Colder weather In Auckland district has resulted in a bigger demand for maize lot poultry feeding. FOWL WHEAT.- j The local market is well' supplied with fowl wheat Imported from Australia by the Government and distributed »t the fixed prices agreed upon. OATS. Considerable excitement ha» existed In the market for oats in the , Boutu during the past week, and prices reached uign figures. Stocks of oats in Southland are reported exceedingly short, and it looka as if there will not be enough to fill the requirements down there until next harvest. It is also reported that the bulk of the oats this season in Southland are of

milling grade, and Canadian imported grain is niliug requirements for feed purposes. Last week a census taken in Southland showed 4000 odd sacks of oats in store' at the Bluff, and IiyOOO at invercargilL To this may be attributed the fact that oversellers of oats were wlDing to pay high prices to" cover lines, sold for forward delivery. ■.■•'-•.;.■ From Timaru comes the Information that a slight etir was caused in the oat market, due to forward sellers rushing in to cover, which put the price up to a false figure. The Canterbury market report la to the effect that the bulk of the business in oats was purely of a paper character. A grade Cartons are quoted at 5/6 f.o.b. in the South, and B grade 5/4 per bushel. Tula means a landed cost at Auckland or 6/3 and 0/1 per bushel respectively. Under such conditions It would seem that Auckland merchants w-P require to draw further supplies from Canada, but the market for outs there hoe advanced, but the principal dlfficnlty appears to be to get space oh ships owing to the large quantity of other cargo offering from Pacific ports. A movement Is on foot to get the Government to lift the duty on oata until such time as* the growers in the South Island can again eupply the requirements of the Dominion. The shipment of Canadian oats that reached this port was all sold ahead for delivery from ship's side, which means that the. grain was distributed right away tor Immediate consumption. The Makura will bring a further lot of Canadian oats this month, and the Canadian Seigneur is due with another lot about the 2nd or 3rd of June. Quotations at Auckland for Souttiern A grade Gortons to-day art C/C, and B grade 6/4 per bushel. Canadian oats 5/10,- and Algerian seed oats (Victorian) 7/6 per bushel. SKED OATS. Present Indications are that only a normal area will be put under oats in tbe Auckland district this season. Ample stocks of Algerian aeed oats are held tn store having been Imported from Australia Sβ Southern seed is practically unprocurable now. There are" still some further small lots of seed to come forward from Australia. These can be landed under cost of importations from the South at the prices asked for the few seed oats available. The quality of the Australian grown Algerian seed oats Is reported to be very satisfactory, and. past experience has shown that fields sown with imported grain do well. CHAEF. in sympathy with the oat market, chaff is niucli firmer. Blenheim merchants advise they are not prepared to quote parcels for forward, delivery. The market has also firmed at Kangitiki and Hawke'fi Bay for this line. It is fortunate for Auckland! feeders that such large quantities of chaff* could be obtained from Australia at a reasonable price. Arrangements have been made that futnre shipments of chaff from Australia shall be sent in heavy jute sucks. as the scrim ones did not stand handling well. WHOLESALE CURRENT PRICES. Farm and Dairy creamery butter, 1/5J per lb for prompt cash; first grade (pats), 1/4} ; second grade, 1/3J; farmers' separator, 1/1. Cheese, first grade factory, medium size,' 10} dto 1/ per lb. Bams, 1/2 per lb; bacon, 1/ to 1/1 per lb Lard, bulk, lid; pats, 1/. Flour, £17 5/, less 2} per cent discount per ton in 2001b sacks; sharps. £8 10/; bran £6 10/; oatmeal, 23's. £26 10/.

Grain.—Oats, A grade 0/6, B grade 6/4 ex store; Ctmndian oats, 5/10; Algerian seed oats, 7/0 per bushel; maize, 6/10 to 7/5 per busnel, ex store; fowl wheat, 7/3 per bushel. Chafl". —Best Southern, £12 per ton; Australian, in sacks £11, compressed £10. Onions.—Southern, 14/ to 15/ per cwt. Potatoes.—£l2 per ton, best quality. THE HABfiITSKINS MARKET. At the Dunedin sales of rabbitskins, the demand for all grades was particularly teen, and prices generally can be quoted at an advance of fully" 3d to fld per lb on. late values. The following is the range of prices: and suckers, 19 Jd to *2Sd; light racks, 35d to 3Sjd: summers, 33Jd to 36Jd; prime racks, 37Jd to 39d; early autumns. 42jd to 49Jd; late autumns, 403 a to 51} d; incoming winters, 48} dto 61d; early whites, 60d to 64d; summer, broken, 28d to 30d; autapn, broken, 341 d to HOid: summer blacks. 33} dto 3Sd; autumn blacks. 30d to 40d; Incoming winter blacks, 48} dto 51d; fawns. 39d to 47d: hareskins, 18d to 24d; horsehair, 21} d to 26d. AMERICAN MOTOR CAR TRADE.

John Dunn, Son and Co., of New York, report under date of April 14:—"The production of automobiles continues to loom large, but the first break has already occurred in a considerable curtailment of the schedule planned for automobile production. This has taken place, notwithstanding the fact that unusual efforts are being made to dispose of cars by the free nee .of the easy payment. plan."

IRON AND STEEL. "The.same > circular- states that the Iron ?n d ß malL^todS<2i c Blow"? nees belfe done In the 2 uSS i. UeI " I lor deUTerr^ak^S^ 1 orders [and the general t^tof^ZSSS*~£**nt.

doubt as to the immediate future is becoming more pronounced. The business that is I being placed is being eagerly competed I for, and as a consequence prices are sagging. Export trade is practically uour existant, even at the very decided concessions which could be obtainedj There is every indication of a further decline in prices during the next few months, and it !is hoped that much decline will be accompanied by an adjustment of costs that eventually will put this country again in the. export market. ON 'CHANGE. Colonial Sugar Refining Company shares advanced 40/ since last report, buyers ofno selling price was quoted. Inquiry set lv again for P. and O. deferred stock at 4j per cent War Loan, 1030, were placed yesterday afternoon at £96 17/ U. Union Hank of Australia shares tinned during the week, sales taking place at £14 12/, ut which rate there were further buyers. National Bank shares also improved, transactions taking place yesterday afternoon at £6 16/6, with a buyer left at sixpence under that figure. South British Insurance were placed at 40/6, aud Auckland Gas at 25/6. Buyers still maintain the advanced offer of 20/6 for rhlllipps and I inpey shares, but no sales were made at that rate. Wilson'e Cemeut had several sales at 30/, and for Farmers' Fertilizer shares 80/ is. offeifed. A transaction took place in Jlevouport Borough Loan at £102 10/, and buyers now Quote 10/ less. Taupiri Coal could be placed at 10/. and Walpa Collieries are still wanted at 17/3. Timber shares could be placed at late rates, and a Cew more transactions occurred in Nationals at '22/. In mining shares sales took place of Wuihl lines at 3J/3, but Grand Junctions are still offered aslow at 3/, ami Moanataiuris at 1/0. Buyers of Zeehun Consolidated snares offered 8/ yesterday, Ivit no sellers quoted. The manager telegraphed that some strong blotches of gold had been seen in the reef.