THE MARKETS AT A GLANCE.

Auckland Star, Volume LVII, Issue 103, 5 May 1926, Page 4

THE MARKETS AT A GLANCE.

STEADY WKOtESALE TRADE. MARKET ON SICILY ALMONDS STILL RISING. DESICCATED COCONUT PRICES ADVANCE " Auckland Star " OHlce, Wednesday, May 5, 1006. ThP amount of business transactoU by irev o'w wc'k, bill, laKUUr all Uiuijo """ consideration, Hμ- way tlie orders an; eonilntr in is considered quite sa israetory lor this part or the month Hie pack Ing clcnailiiK'ius arc quite as busy as they J- Vw.M-k. as ttte (fivatest percentage or tne items called lor, instead oi bwing .a-.- .•>!- an; lur smaller quantities, which necessitates considerably more work in tins department, banned rruits are unmarked by any cbunire, wlilic in '•"real-rule market demand is more active titan usual. Split peas and pearl barley are good sellers at tins time, with ru p *er shipments lioiu the South due about the end or the week. Coffee is steady and stronir. with market showing- • an upward tendency, while tea prices are. generally weaker, owing to the Tailing; off in quality inaKltiK- some or lliem lmsuitiiule lor m..~ market. Eastern markets, with the exception of pines, all show weaker U , ii(lcnrie>, with demand quiet on spot, although more interest is expected to be taken in these commodities as the direct steamer arrived Mis week. Cheese sales are quiet, witnout any price changes being advised. Whole kinder has been rather scarce on spot, but with the arrival ol" consignments by the Mamisranui on her last trip the market is likely to be rainy wen supplied lor some time to come. Kuglisn corn Hours are selling- readily, and merchants are hading- clUUcuUy In keeping: pace with the demand, alilioiig-n shipments are arriving by almost every oversea vessel. A few hundred boxes or south African dried apricots were transhipped Ironi Sydney last week, and arrived in excellent condition, and should meet a good demand for jam-making. Further supplies or prunes landed the other day, and, as present landings are below packers' prices for prompt shipment, the retail are taking advantage of the present exceptionally low offers that are being made on spot. Drapery. The amount or business done during the last fortnight has not shown any substantial increase, which has been due mainly to the weather being so mild that summer apparel is still being worn by the greatest percentage or the public to-day. I'his week has proved more unsettled and stormy, and, as the weather forecast is for colder conditions, there is bound to be an increase in trade as soon as these altered conditions become manifest. A few lines have been offered at bargain prices during the last week or so, just as Business stimulators, and from the way these lines have been rushed it is clearly evident that the public have the money to purchase, provided the items offered prove sufficiently attractive for them to buy. Dress material trade has been particularly good this year, ttie demand for reps being unusually heavy, so much so that the lirst shipments-are practically sold up, and the second deliveries are now anxiously wanted. These should arrive within the next few weeks, and will go into distribution right away. Some shades have been particularly scarce, mainly bottle green, the unexpected demand for this material not being anticipated by tradespeople, and the result has been the consequent shortage. Usually by this time of the year the demand for fur coats is in full swing, but, so far, business in this department has been quiet, owing to the mildness or the season. On the other hand, fur necklets and chokers have had an increased demand, the sales in these lines being particularly good. ■ The trimmed millinery trade has been quiet, the whole or the demand being for felt ready-to-wears, which are now in shoFt supply. Sultanas. The Australian Fruit Export Control Board cabled their New Zealand agents yesterday withdrawing all quotations on two and three crown sultanas. Immediately arter prices for May shipment were relisted at opening rates wholesalers sent up their seasorf's llnal requirements, but, so far, they have not received confirmation of the business placed. Ceylon Tea. The usual weekly sale of tea was lieJd in Colombo on the 27th ulto, when 2,450,0001b were offered for auction. This proved to be a considerable reduction on previous efforts, as three million pounds were sent in during the previous week. Quality showed a still runner falling- oir, with the result that sales were more restricted than ever, with all grades showing a decline In prices on quotations ror tne last sale, commons. Cleaned Commons, J'rice liroken Orange tekoes, Plain 8.0.P.'5, First Classic Brokens, and Finest Sorts all showed reductions of from id to id per lb. Exchange was quoted "at l/G}. Although the market is at present a declining one, it is considered that it is very unlikely the local position will be affected, as the majority of buyers consider that the present, low quality grades being offered are too poor to be of any use for this market, buyers preferring to wait till there is a considerable improvement in the grade offered. In the meantime, those who are likely to run short are buying most of their necessary requirements from Australian houses, who are carrying- stocks of the better grade teas. White Lead. Cables received by agents or English white leads advise that a reduction or £1 per ton has taken place in the r.o.b. quotations during the last lortnigbt. Coffee. The, coffee market continues to be very firm in tone, with no sign of any immediate price changes at the moment, although rorward prices are considered very luteiy to advance to hig-her levels. Java Robusta has been quoted by. cable during the last week for shipment during- Alay and June, with quotations very llrm. Indian grades, which were moved up on opening prices soon after they were named, have now declined to their opening- level, 'but as .stocks have always to be cleaned up before the incnsoon rains commence, Indian holders have nearly all sold their stocks to London, so that any further supplies required before next season will nave to oe drawn from London at considerably increased prices.. Corn Flour. Shippers of cheap brands of Canadian corn Hour advised their agents last week of a reduction of 15/ per ton on forward shipments, and also of those , in transit. Stocks held by the local agents are also reduced, and will be sold on the revised basis. Nutmegs. During the last four weeks the market I'or Singapore nutmegs has been a gradually fulling one, the prices now named for llO's showing a reduction of 4id per lb during the above period. Direct shipments are now landing, but these consignments Will land at slight increases on present lists, as shipments were made before the last alterations to prices. ■ Jute. -. Corn Sacks.—Later quotations received by Indian shippers advise that the weaker market advised last week still continues, revised rates for forward shipments showing: still rurther declines on -those previously listed. July-Aug-ust: -!Ilb lid :H!lb 3d. and i>lb 7oz id per dozen. For November-December the declines for the same sizes are as follows:—Ud, i?u, and Jd per dozen. Wool Packs.—For early shipment by direct steamer leaving Calcutta approximately July-August, the following alterations are advised:—β-iln a decline of 3d. 48in iia, and 42in ijd per pack. For later shipment, -November-December the reductions are as follows:— oiin 1 Jd, ism lid, and i->ui lid per pack. Mace. a S°nr ' S lIOW bCins olrercd at a decline ol 3jd per ]t> on quotations ror direct steamer, July and August. Peppers. The forward market on peppers has" shown some alteration during «ne last month, and primary markets, which were Previously very llrm, are now listing the 101 l owing reductions:—Singapore black ig(l per lb. Singapore white, I+d- fair average quality Muntok white i4u ncr lb. Local and Southern houses nave reviewed their selling quotations, and ihe following reductions we're advised towards the latter part of last week:—Bulk white id per Ib; smail tins, 1/ per dozen-' medium tins, i>/G; and largo tins. 5/ dpi' dozen. Black: Bulk, 3d per )t>; small tins 1/ per dozen; medium, 3/; and large tins, 0/ per dozen. • Sicily Almonds. The present position of the market for both old and new season's Sicily almonds, both prompt and rorward shipment, 1* unusually llrm, with the market on old getting- short, and, as stocks are only in a few hands, holders have considerably increased their prices during , the last lew weeks. Since last report further advances have taken place of another £5 per ton, although towards the latter part Of last week one of the larg-er holders

lowered his quotation by £2, but this still leaves present indent rates lor old season's at an advance or as per ton in the short period of a rew weeks. New season* are also on a rising market, but the changes In this instance have been more gradual, the latest revision to the rorward market being an advance or £2 per ton. Pineapples. There has been some slight fluctuation In rorward markets during: the last Tew weeks, the tendency, owing to shorter stocks and increased cost or canning , operations, being: for a rising , market. Cables were received last week that, in comparison to iiKlein rates advised v Few weeks ag-o, show the iQllowinsr alterations for forward shipment:—July-August, ilrst μ-raile cubes increased id per dozen, tall slices advanced Id, and flat slices down Id per dozen. Raisins. Cables have been received by one of the lurjrcr ag-ents for American ITliit during the last week, advising , the withdrawal or quotations on seeded .Muscats, fancy, ami choice. The forward position on Siinniaids is still very Ilrm, and the last information received in connection With this pack is to the effect that stocks at the source of supply are not at all plentiful, in fact Muscat seeded are very short, owing- to bulk stocks of this grade having , , to be drawn ■on to help cater for the unusually hoavy demand that lias taken place on pulled since their advent oil the market. Local stocks of all varieties of Suninaids are fairly plentiful at the moment, as shipments of fresh stocks came to hand about three weeks ago. but it is considered doubtful if all holders will have sufficient to last them till further supplies come to hand. Tapiocas. The latest rates advised for forward shipment show a reduction of from 5/ to 10/ per ton on both sago and pearl tapioca, with market conditions said to be Ilrm at these last quotations. Shipments landing- this week were boug-ht on a slightly better basis than the present revised quotations, so that those whose stocks are getting; low need have no hesitation in buying- their winter requirements from consignments now lauding-. Prune*. Californian packers advise that a f,air amount of business continues to be done in prunes, and, while the volume has not been so large as was possibly expected by some packers, there is little doubt but that even at the present rate of sales stocks will be completely cleared before the newcrop is available. The very fact that throughout the season the trade has been following- a conservative buying- policy, permitting stocks to run low means that dealers will have to continue coveringeven their current requirements by further purchases from California, where stocks .left now are estimated at not to exceed i' 5,000 tons, with nearly seven months to go bet'ore new crop fruit will be available. During the past week one of the larger packers cabled advising market conditions very ilrm, and that the tendency of the market was a rising one. The smaller sizes, so far, remain unaltered from last lists, but the larger sizes are now quoted at the following increase Tor prompt shipment:—7o-80's advanced 1/3 per cwt, 30--40's 3/6, and 40-»o's 2/3 per cwt. Jordan Almonds. New season's Jordan almonds opened up at a very favourable rate to buyers, as they were quoted at prices that represent reductions on last year's opening rates. So far there does not seem to be much uniformity in quotations, as there is a difference of approximately £9 per ton between some shippers' indent rates for forward shipment. Hardware. The various hardware house 3 advise that the amount of trade transacted during the past week has been of an even nature, but. the tendency of business this week has shown a quieter trend, with sales in all departments being on a much smaller scale. Recently consignments of door mats arrived- in all grades and sizes, and demand for these is steady, w r ith preference being shown Tor the smaller sizes. Cheap mantles are in demand, but supplies at the moment are not very plentiful Upright seem to be sufllciently stocked, but the cheaper grades of inverted will be in short supply till rurther shipments come to hand. Wholesale Current Prices. Butter. —Supernne quality* creamers' butter, booked l/?i per lb, prompt cash. Anchor 1/6* per lb, Opotiki 1/0J per lb: nrst grade factory, 1/6* per lb booked and 1/6 per lb I'or prompt cash; second grade factory, booked, 1/5* per lb, and 1/5 per lb for prompt cash; rarmers' separator, 1/2 per lb. Cheese.—First grade factory, medium size, mild, 9£d to 10* per lb; special matured, l/l to 1/2 per lb; loaf, 1/0* per 'Bacon.— Hams, 1/ to 1/3 per lb; rolled hams, 1/2 to 1/4 per lb; boned hams. l/-i* per lbs bacon sidfcs, n*d to 1/1extra large, ll*d per lb; rolled" sides, 1/1 to 1/2 per lb; middles, 1/2 to 1/3 per lbshoulders, yd to lid per lb; rolled shoulders, 11d to 1/ per lb. Lard: Bulk, lOd to lid per lb; pats, lid to 1/ per lb Pepper.—Brown, Barrett's and Strang's, White, 3oz 6/, 602 11/, i2oz 21/ per dozen, bulk 1/0 per lb; black, 3oz 5/6 fioz do/, I2oz 19/ per dozen, bulk 1/6 per Flour.—Local and Southern, 2001b sacks £19 15/ per ton, lOos £20 10/ per ton 50's £21 per ton, 25's £21 15/ per ton-' i°Fo al n ? nly ' 12 *' s £22 12 / c P e,l ton, 6*"s £23 2/6 per ton, less 2* per cent discount 10^^ a ) efto^^r B a„!V L l O 0 C / al P e S r ha t^o P n S ■ * i 6 2 5^ n P S e e r e loTnY hole ' 2i/ pc ? cwt: e' round ' Bluestone.—3s/ per cwt r,HK att -TZ C , TUShe< h 12/3 Per bushel; whole, per bushel PBT busbe1 '' wn °le, black, 15/ 8d T per ne ib~ Seamin? ' 3/6 per lb; binder '