MARKETS AT A GLANCE.

Auckland Star, Volume LVIII, Issue 246, 18 October 1927, Page 4

MARKETS AT A GLANCE.

BUSINESS WELL MAINTAINED.

WEAKER MARKET ON COCONUT.

OLIVE OIL QUOTATIONS REMAIN FIRM. "Auckland Star" Office, Tuesday, October 18. Business maintained better than usual volume last week. Indications point to heavy deliveries for November account, particularly for the countrj-. Collections are improving generally.

General. Several merchants have received further small shipments of single and double Zig Zag cigarette papers during the last few weeks, and these are being rationed out to a bare market, the call for this brand being greater than the supply available. There is an ample supply of other brands but sales are slow. One of the local condiment manufacturers has been compelled to withdraw quotations for pickled onions owing to supplies being depleted. New pack will be- ready about February next. Stocks of l-16ths Norwegian sardines have been exceedingly short for some little time, and it is not expected that the situation will be relieved to any extent until shipments of new season's arrive early in December. Local packers advise that limited supplies of bulk dried apples are still available, but that cartons are sold up until next year (about March-April). Owing to the imposition of a higher duty on imported canned peas, merchants' present offerings are particularly attractive to the retail trade.

Drapery. The report from most of the drapery houses is that business is rather on the quiet side, due, it is thought, entirely to the weather conditions now being experienced. The millinery section is extremely slow, and it was remarked at the recent race meeting that winter felts were worn almost without exception. Jumper suite are considered to be rather slow of sale, although one of the leading houses recently cut prices of art silk and wool jumper suits aether drastically, with the result that a huge parcel was cleared. This would indicate, to our minds, that this suit is still wanted if obtainable at a reasonable price. Sleeveless cardigans are in good demand at the moment. Some very pretty ones are available in embroidered and plain felt, although the art silk type are perhaps in most favour. In the frock department, the call is mostly for fuji and voile frocks. In this section it is rather interesting to note that these two materials have practically taken the place of the linens of last year. Some ready-to-wear French embroidered voile frocks are showing, and as these are quite novel and different, in fact could be almost classed as "model" frocks, they are proving very popular. The demand for pleated skirts is increasing, and as most of the shops have brought out special machines for doing fancy pleating, this trade is really developing into quite a distinct department.

Australian Currants. Stocks of Australian currants are at present in very small supply locally, and as the next direct steamer from Melbourne, the Kartigi, is not due here for a few weeks yet, her shipment will be urgently wanted. The Australian Fruit Control Board have now cabled that three and four crown currants are absolutely exhausted, wilh only very limited quantities of one and two crown grades still available.

Sheilas. The latest cables received from Calcutta indicate only fractional reductions in A.B.T.N. shellac, current c.i.f.e. quotations being listed *4d per lb cheaper on a steady market.

Kapok. The market for new crop kapok has remained on a very steady basis for the last few weeks, but ca6les just in from Samarang during the week-end advise a sharp rise of *4d per lb for shipment NovemberDecember. Shippers also advise that the market is exceedingly firm and that further advances are expected.

Olive OIL Quotations for French and Spanish olive oil remain very high. The latest information available is that supplies are still very scarce, and there is no prospect of a decline in this market for some considerable time to come. Buyers, up to the present, have been operating rather conservatively owing to prices being so high, and it seems apparent than any consignments now coming forward will be too small to meet the requirements of the market.

Preserved Ginger. Quotations for Chinese preserved ginger for prompt shipment Rom Hongkong still remain listed at very low rates, with the result that some business is passing. Local pack is also being listed at competitive rates, and as agents are offering to book forward at present prices, a considerable amount of business has been done.

Desiccated Coeonst. Cables received by agents for desiccated coconut from Colombo in the early part of last week advised a further decline in all packs ibulk and packets), amounting to 7%d per cwt. This market has been gradually declining for a period of about six weeks and the prices now listed are the lowest that have been recorded over a number of years.

Tapieca. With one exception, loeal agents for Penang and Singapore tapiocas were in receipt of cables last week from then respective principals, * advising further slight advances in forward and transhipment prices for both sago and pearl tapioca. Quotations, as now listed, are approximately 2/ per cwt dearer than the lowest quotations ruling just prior to the departure of the last direct steamer, which should give retailers a very good indication of the present position of the market.

Dates. Cabled advice has recently been received by agents that the direct steamer, carrying Hie first of the new season's date shipments has definitely nailed from Busra, nnd is due to arrive in Sydney approximately early November, so that the first consignments should arrive in Auckland about a fortnight later. It would appear from the small amount of business sent up to come forward by this shipment that nothing like actual requirements have Ween booked, buyers' evidently preferring to await the possibility of the arrival of consignment stocks ,by this steamer, or buying from London at reduced rates. Prices for the first delivery of the new reason's consignments are estimated to fhow a slight advance on the present local prices, but the opinion is fairly generally expressed that prices for both bulk ami packet lines will be a good deal 1 -r as the season advances.

Chstse. Local prices of cheese have of late followed, to some extent._ the high values mling in the United Kingdom, and it is expected that these prices will continue to remain firm for the rest of the year. Local prices may be expected to advance further as same are still well below export parity.

Sardines. An interesting feature of the canned '£ sh business has been the extension of the sardine canning trade in Scotland, shipments have just been landed, and have i'pened up in excellent condition. The fish are slightly larger than t f i I \°* we ««en, but of fine flavour, and packed m food quality olive oil. ~

Ceylon Tea. At the usual weekly sale held in Colombo on the 11 inet., the total quantity offered •mounted to Amongst the grades offered there were some rather useful selections, some quality lines proving rather attractive. The result of the sale showed that commons were slightly easier, with other grades in good demand. Commons were reduced Id, Price Broken Orange Pekoes reduced %d, plain broken Pekoes, and firet classic brokens reduced %d per. lb, and finest broken Orange Pekoes firm. Exchange remained unaltered at 1/6 7-32. Walnuts. Agents for Chinese walnuts were in receipt of cables from Hongkong, notifying an increase in indent rates of £2 per ton on new season's for October shipment. Advices have also been received that the quantity available at present prices from Hongkong is strictly limited, and is the result of small offers from weak holders.

Pepper. For a period of about four weeks agents' weekly quotations for both blask and white peppers have been listed at a slight decline each week, Singapore black during that period showing a reduction of Id per lb, Singapore white %d, and Muntock white l%d per lb. Any drastic reduction is, however, considered very unlikely, the world's supplies, as last estimated, proving totally insufficient for the requirements of the trade.

Walnuts. Agents for Chinese walnuts were in receipt of cables from Hongkong, notifying an increase in indent rates of £2 per ton on new season's for October shipment. Advices have also been received that the quantity available at present prices from Hongkong is strictly limited, and is the result of small offers from weak holders.

Wholesale Current Prices. Butter.—First grade factory butter, booked, 1/B*4 per lb, and 1/7*4 per lb for prompt cash. Second grade factory, 1/7*4 per lb, and 1/7 per lb for prompt caeh. Farmers' separator, 1/6 per lb. Cheese. —First grade factory, medium size, mild, 9%d to 10*4 d per lb; loaf, 1/ per lb. Bacon.—Hams, 1/1 to 1/3 per lb; rolled hams, 1/3 to 1/5*4 per lb; boned hams, 1/3 to 1/5*4 per lb. Bacon: Sides, lOd to 1/1 per lb; rolled sides, 1/o*4 to 1/3 per lb; middles, 1/1 to V* 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, £18 per ton; IOCs, £18 15/ per ton; 50's, £19 5/ per ton; 25's, £20 per ton; 12*4's, £20 17/6 per ton; 6*4's, £21 7/6 per ton. Southern: 2001b sacks, £18 per ton; loo's, £18 15/ per ton; 50's, £19 per ton; 25's, £19 10/ per ton; 12*4's, £20 5/ per ton; 6*i%, £20 17/6 per ton, all less 2*4 per cent discount. Sharps and Bran.—Local sharps, £8 5/ per ton; bran, £5 15/ per ton. Linseed.—Whole, 21/6 per cwt; ground, 22/6 per 1001b. Malt.—Crushed, 12/ per bushel; whole white, 12/ per bushel; whole black, 15/6 per bushel. Twines.— Seaming, 3/9 per lb; binder, 8d per lb. Peameal.—l3/ per 1001b. Linseed Oil Cake Nuts—Moose, 14/ per 1001b. Bluestone.—32/6 per cwt. Linseed Meal.—Moose, 15/6 per 1001b.