MARKETS AT A GLANCE.

Auckland Star, Volume LXI, Issue 231, 30 September 1930, Page 4

MARKETS AT A GLANCE.

QUIETER TRADING PERIOD.

EASTERN MARKETS ADVANCING

SHORTAGE SCOTCH HERRING CATCH. "Auckland Star" Office, Tuesday, Sept. 30, 1930. \s already advised wholesale distributors opened up to substantial business at the beginning of last week, but contrary to expectations was only maintained for a few days, trade then showing a slackening off. Apparently this was only a temporary lull as towards the end of the week country orders in particular came in with such volume that the various packing and dispatch departments found it almost impossible to cope with storekeepers' requirements. The sinking of the Taniwha also complicated the situation as far as merchants were concerned, as this steamer had on board at the time of the mishap the greater proportion ot storekeepers lirst of the month s requirements from the surrounding districts. An immediate repeat of all orders sent by this vessel was therefore urgently necessary, and this on top of the extra volume of business being experienced forced merchants in quite a number of cases to woi'k their packing departments overtime. This week with most storekeepers' requirements already executed has opened rather quietly, and it is anticipated that a fair volume of trade will be experienced. Local storekeepers' orders have been rather light so far, and it is apparent that they are conducting their business with as small a stock as passible, which they are well able to do, as they are able to replenish from day to day. General. The majority of wholesale distributing merchants have received heavy overseas shipments during the last few clays, in which have been included a great number of seasonable lines in anticipation of coming summer requirements. Shipments comprise English custard powder, Seidlitu powders, fluid magnesia, insect powder, English jams and marmalade, Blanco outfits and refills, patent foods, gravy salt, blanc mange powders, packet and carton table salt, tartaric and citric acid in both powder and crystals, curry powder, and herrings in sauce in various packings and brands. In readiness for the coining Christmas trade, shipments of English biscuits in various sealed tinned packings are now being landed. Assortments are considered particularly suitable for the usual holiday demand during the Christmas period. From Australia fresh supplies of macaroni, vermicelli, spaghetti and all grades of currants and sultanas, as well as a small consignment of Lexia raisins are now to hand. Further supplies of waterproof wax vestas, which are now experiencing a steady sale, have also been lauded. Cigarette papers, both singles and doubles, in well-known brands; have also arrived. Epsom ealts, which have previously been short on this market for a considerable number of weeks, are now to hand in ample supply. Owing to the lateness of the season and the impossibility of securing further direct shipment of walnut halves before next December or early January, any available supplies are likely to be at a premium duo to the extra cost of storage and other charges that are likely to be incurred. Merchants' stocks are said to be very low. Australian growers advise that since the season's crop of Australian grown rice will be greatly in excess of their own requirements this season a considerable surplus will therefore be available for export to New Zealand. Although the next export price has not yet been fixed, it is the opinion from information received that the price will be lower than previously announced, and closely approximate to that of usual 1 Diamond grade. As the quality of the Australian grown is considered superior, it is thought that a good demand will be experienced, provided f.o.b. prices are any way near to merchants' expectations. One well-known line of proprietary brand soap in half cases has been reduced 1/ per case. A bonus is now being offered to the storei keepers on a well-known line of effervescent salts of one bottle free with every dozen ordered, with an extra trade discount on quantity lots, A well-known line of floor polish in all sizes has been listed at slight reductions on previous rates. Alaska salmon in some popular brands is likely to be scarce this season. Advices have been received that one packer in particular only quoted prices for one day and then they were withdrawn, very little business being transacted in the time available. Asparagus prices prej.vionsly named for and up to September shipment have now been carried forward to December without any increase in packers' quotations. Prices on local manufactured linseed oil are again showing an casing tendency, latest rates being" listed at a decline of 2d per gallon on all packings. Although there has been no actual alteration in storekeepers' prices of tinned milk and cream to the public, merchants , quantity prices to storekeepers are now being offered on a different basis. The case price now remains unaltered, but for various quantities a sliding scale of discount is given, which shows a slightly better margin of profit to the storekeeper. Pepper. Pepper is decidedly firmer again, advances last week representing an increase of l%d per lb. Although this market has been appreciating gradually during the past four to five weeks, buyers are still in'clined to hold off, believing that this increase is only of a temporary nature. Nutmegs and Mace. Nutmegs after a period of depression have now shown a turn, prices advised by cable last week being increased Id per Ib. Mace also continues on a firm market, a further advance of 2 l Ad per lb being noticed in recent lists. ■ ° Sago and Tapioca. This market continues to advance, and prices are again listed this week at higher l ' a( *«- i lll advance of 4V6d per cwt being notified. The present position of wholesalers in,regard to this market is rather a difficult one. Stocks brought clown by the last steamer were estimated at time of arrival as being insufficient for the needs of this market until the arrival ot the next steamer early in December. Shortly after consignments arrived the market commenced to advance, aud the trade hold off under the impression that such increases were only temporary. The position at present is that it is almost a certainty that owing to the present shortage further stocks will have to be brought forward via Australia, which means an increase bv this route of 1/7% pi— c".vt, so that this, taken in conjunction with the advances in quotations, which represent an increase of 1/6 p-rv cwt since last consignments arrived, will mean quite a substantial increase in merchants' selling costs when these new supplies arrive. Herrings. A cable just received from one of the best known packers of English tinned herrings advise?, that through the eearcity of Scotch herrings this season the catch will be full'- 25 per rent brio , *; last'year's total. In the meantime supplies arc considered sufficient for present orcte-.-s. in hand, and packers are also able to accept further email bookings at., present rates for tho time being. Thev strongly recommend merchants to cover their season's requirements immediately, so-as'to secure continuity of supplies. ■■■.';. Cream of Tartar. English shippers cabled that the market is distinctly linn with tin upward tendency. LVblo reports have been receiver that ii i> considered i very: .d'jubtftil whether present prices will:' remain :it their existing level, as it is reported.th.it the vineyards in France have::' suffered some damage recently, and that the cost of raw materials has advanced, which is likely to be reflected very shortly ':i ir.v:'C"S':s in manufacturers' selling rut^>.

Rangoon Rice. ! Quotations lately received by cable for bcr direct steamer are considered quite bcr direct steamer are considered uite attractive, being listed at 15/ per ton less than previous lists at which business was done for the March-April steamer. In spite of favourable quotations very little business is usually done for shipment by the next steamer, however, owing to the difficulty of consignments rr.riving in good order during the summer months. American Resin. The market for American resin is now showing a firmer tendency, and prices on both "G" and "N" grades have been advanced, the former by 5/ and the latter by 7/6 per ton. Ceylon Tea. At the usual weekly sale of Ceylon tea held at Colombo on the 23rd instant 1,650,0001b was placed under offer. The result of the sale showed a strong demand, common and medium broken Pekoes advancing three cents, broken orange Pekoes advancing four to five cents, and good kinds strong, with finest irregular. Quality showed a slight falling off, but most grades offered were still coloury and bright, lhe actual price alterations showed an advance on Vzi per Ib on commons, %d increase on Price broken Oranges Pekoes, %d advance on plain 8.0.P.'5. Finest classic broken Pekoes remained firm, and fine 8.0.P.'s advanced %d. Exchange was quoted at 1/6. Prunes. Cables received by agents during the week advise a further slight weakness in packers' prices for prunes, Santa Clara quality, the small size being quoted at a reduction of 1/ per cwt. Soft Shell Almonds. The market for soft shell almonds has shown further weakness during the past week, a decline of 1/ per cwt being announced. Filbert Barcelonas. A reduction in the market for filbert barcelonas was advised a fortnight ago, and further cables received have indicated another decline of 1/ per cwt. Coffee Beans. The Java Robusta coffee market is again easier. Prices at the opening of the season were listed at very low levels, but later increased approximately £2 per ton. Apparently this advance was only of a very temporary nature, the most recent quotations showing a reduction in prompt shipment rates to their previous level. Brass and Copper. The brass and copper market is easier, latest prices listed being at a reduction. The lowness of this market fairly indicates tho difficulty British manufacturers are having in securing sufficient orders to keep their' works going. Wholesale Current Prices. Butter.—First grade factory, booked l/3Va per lb and 1/3 per lb for prompt cash; second grade factory, booked 1/2% per Ib and 1/2 per lb for prompt cash; farmers' separator, 1/ 'ler lb. Cheese—First grade factory, medium size, mild, B%d to 9%d per lb net; loaf, gi/id per lb net; Chesdalc, Clb bars, 1/3 pet lb, 7oz packets 9/6 dozen. Bacon.—Hams, 1/1 per lb; rolled hams, 1/3 per lb; cooked whole ham, 1/5 per lb; cooked pressed ham, 1/10 per lb; bacon sides, lid per lb; rolled sides, 1/1 per lb; middles, 1/2 per lb; shoulders, 9d per lb; rolled shoulders, lid per lb. Lard: Bulk, VM to 9d per lb; pats, 8d to 9d per lb. Flour—Local, 2001b sacks, £18.10/ per ton; 100's, £19 5/ per ton; 50's, £19 15/ per ton; 25's, £20 10/ per ton; 12 ] / 2 's, £21 7/6 per ton; 6 J A's, £21 17/6 per ton. Linseed.—Whole, 23/ per 1001b; ground, 21/ per 1001b. Malt.—Crushed, 10/3 per bushel; whole white, 9/9 per bushel; whole black, 13/ per bushel. Twines.—Seaming, 3/6 per lb; binder, 8d per Ib. Peamcal.—l2/ per 1001b. Linseed Oil Cake Nuts.—ls/ per 1001b. Linseed Meal.—l 7/ per 1001b. Bluestonc.—37/6 per cwt.