MARKETS GLANCE.

Auckland Star, Volume LVIII, Issue 44, 22 February 1927, Page 4

MARKETS GLANCE.

REDUCTION IN FLOUR PRICES. BUSINESS STEADY. FAVOURABLE GIXGER PRICES. Auckland "Star" Office, Tuesday, February 22. For the period of the year trading is considered to be quite fair, business generally being steady. Collections are improving and indications point to a good '25th' being experienced. Already -wholesalers are receiving bookings against 2.5 th deliveries, and with the Island steamer due shortly an all round increase in business should eventuate. General. Towards the end of last week all merchants were circularised by both local and Southern millers, reducing prices of Hour, sharps, and bran. General reductions approximate £1 per ton on Hour, £2 on sharps, and £1 on bran. Rolled oats, oatmeal, gruelmeal, etc., remain, unaltered meantime. Another price alteration is advised by one of the leading honey packers, who has notified the trade that 21b tins will be reduced as from the end of this week. Taken all round, Eastern markets show good buying just at present, Ginger, especially preserved, represents exellent value at prices quoted, which are within a fraction of the lowest quotations issued over a period of several years. The unsettled conditions existing in China are making it very difficult to obtain supplies of peanuts, and it is thought that higher rates must shortly rule. In spice lines cloves are offered at slightly better prices, otherwise there has not been a very material alteration, except in Pimento, which is much dearer with prices firm. Desiccated coconut, which was advised last week as firming, has advanced a further sixpence per cwt in latest cables. Australian agents are offering to book rice for spread delivery over the next three months at prices now ruling. Mysore and Mocha coffee are offered at reasonable indent quotations. Drapery. The continued warm weather is stimulating the public demand for cotton and washing frocks and materials, and all departments report good buying. Evening and smart afternoon frocks have been finding ready sale, as well as suitable materials for creating these garments, which demand has been caused to a large extent by the coming functions in connection with the Royal Visit. Drapery houses will soon be making window displays of the new season's goods, as well as private showings, but it is not anticipated that winter requirements will be very heavy until colder weather conditions are manifest. Soy. Quotations for No. 1 Thick Tong Le Chan Soy have shown more firmness during the past fornight, revised rates now showing an increase of 3d per gallon. Nutmegs. Latest advices in connection with this commodity advise a somewhat erratic market during the last few months. Holland is said to be holding fairly large stocks, with the result that the demand from that quarter has been rather disappointing so far. Arrivals have been showing improvement, and though a spasmodic demand for Australasia and New York has at times encouraged dealers to hold out for higher prices, any advances in the market seem to have been merely of a temporary nature. Prices cabled last week showed a reduction of 3-8 d for 110's and Vzd on sound shrivelled. Seagrass. All Chinese commodities are being listed at firm to dearer prices, and the latest quotations received for machine twisted No. 3 seagrass show an increase in quotations of 5/4 per cwt. Turpentine. Latest reports to hand in reference to the turpentine market advise that the new crop quotations since first being listed have shown a gradual weakness, and the prices as now quoted are the lowest recorded for quite a number of years. The market first opened at firm to steady rates, cables then advised a decline of Id per gallon, which was followed a fortnight later by a further drop of 1% per gallon. These prices are for new crop, and buyers are offered spread shipment from March to August. Clothes Pegs. Clothes pegs are now quoted at slightly firmer prices for March shipment, shippers from Montreal naming a figure three cents above that ruling a month or so ago. Preserved Ginger. Firmer prices were advised on Chinese preserved ginger last week, all prompt shipment quotations being advanced Id per lb. Later cables, since received, however, advise a sudden weakness, and business can now be booked at a reduction of l%d per lb for all packings. This quotation brings the prices down to within a fraction of the figure that has been the lowest ruling over a period of several years. Brazil Nuts. Local agents for one of the leading shippers advise receipt of cabled instructions to advance prices £2 per ton. Ceylon Tea. The quantity placed under offer at the weekly sale held at Colombo on the loth inst., amounted to 2,000,WK)1b. The result of the sale showed that there was a surplus of Commons and Broken Orange Pekoes, which resulted in an easier market, with the better grades being quoted firmer to dearer. Commons declined from. %d to %d per lb, Cleaned Commons %d, Price Broken Orange Pekoes %d, Plain 8.0.P'5., lHd per lb, First Classics were listed at firm and unchanged rates, and Finest Sorts advanced %d per lb. Exchange is unaltered at 1/6%. Sicily Almonds. Lower rates have been advised in the market for Sicilies, prices as now quoted showing a reduction in indent rates of £2 per ton. Resin. Up to about a fortnight ago the market for French resin showed more firmness, and the last quotations advised an increase of 10/ per ton. Last week further information came to hand concerning American prices for spot and indent,- both of which show reductions on previous rates, which ■would indicate that French quotations will also be weaker. Present spot rates for American list a reduction ot 15/ per ton on "G," and 10/ on "X" grade. For forward shipment May or June, this reduction on present juices amounts to £2 per ton. and £1 7/6 respectively. These forward offers are much lower than those listed over a considerable period, and good business should be booked on this basis. Mace. Cabled quotations for Xo. 2 Amboyna received last week show a reduction of %d per lb. Honey. One of the most well-known local packers has advised the trade of an impending reduction in price of 21b tins of honey, which are to be reduced 1/6 per dozen as from the 25th inst. Cartons, bulk, and other sized tins remain unaltered meantime. Creaui of Tar car. Kemball Bishops 99 per cent English Cream has been advanced £3 per ton in the latest cables received. Hardware. Local hardware merchants are satisfied with the amount of business passing. reporting that, although trade is not brisk, for the time of the year, the volume is quite good. Stocks of all lines are in good compass, and "shorts" that were exFenced being covered by re«ent landtw Jz« are m 2 r ? plea Bed vith thc Wrt «2t?£ tB ar *- > eblg settled and reP?JM*at they anticipate a good 25ta.

Mattress Wire. Canadian manufacturers of mattress wire in Montreal have now advised a reduction of four dollars per ton for shipment, commencing May. As is known, the St. Lawrence River is frozen up during the present period of the year, and all freighting has to be railed from Montreal. to the seaboard, thus incurring additional freight, so that this reduction for forward shipment is accounted for by the fact that shippers anticipate being able to ship from their own port. White and Red Lead. Revised quotations just received for genuine English white lead in oil and also for dry, show a decline in this market of a further £1 per ton. Red lead is also listed at a decline, the reduction in this instance being £2 per ton. White Lead Paint: Ready mixed white lead paiut is quoted at a reduction of £2 10/ per ton on previous rates. Sago and Tapioca. Prices for both Penang and Singapore remain at generally firm prices, each cable during the last few weeks showing slight increases on the previous one. The only variety not shoeing any alteration is Flake, which, considering the state of the market, is quoted at a very reasonable Wholesale Current Prices. Butter.—Superfine quality creamery butter booked 1/5-4, per lb; prompt cash Anchor, Sunbeam and Opotiki, 1/4% per lb. First grade factory, 1/4% per lb booked, and 1/4 per lb for prompt cash. Second grade factory, booked 1/3% per lb, and 1/3 per lb for prompt cash. Farmers' separator, 1/2 per lb. Cheese.—First grade factory, medium size, mild, 9%d to 10% d per lb; loaf, ll&d per lb. Bacon.—Hams, 1/ to 1/3 per lb; rolled hams, 1/2 to 1/5 per lb; boned hams, 1/3 to 1/5% per lb. Bacon sides, 10% dto 1/1 per lb; rolled sides, 1/0% to 1/3 per lb; middles, 1/1 to 1/4 per lb; shoulders, 8d to lid per lb; rolled shoulders, lOd to 1/ per lb; lard, bulk, lOd to lid per lb; pats, lid to 1/ per lb. Flour.—Local, 2001b sacks, £17 10/ per ton; 100's, £18 5/ per ton; 50's, £18 15/ per ton; 25's, £19 10/ per ton; 12%'s, £20 7/6 per ton; 6%'s, £20 17/6 per ton; Southern, sacks, £17 10/ er ton; 100's, £18 5/ per ton; 50's, £18 10/ per ton; 25's, £19 per ton; 12%'s, £19 15/ per ton; 6%'s, £20 7/6 per ton, less 2% per cent discount. Sharps and Bran.—Local sharps, £9 10/ bran, £7 10/ per ton. Linseed.—Whole, 22/ per lOOIb; ground 23/ per 1001b. Malt.—Crushed. 11/3 per bushel; whole white, 11/ per bushel; whole black, 14/ per bushel. Twines—Seaming, 3/9 per lb; binder, 8d per lb. Peameal.—l4/ per 1001b. Linseed Meal.—Moose, 15/6 per 1001b. Linseed Oil Cake Nuts.—Moose, 14/6 per 1001b. Bluestone.—32/6 per cwt.