MARKETS AT A GLANCE.

Auckland Star, Volume LXI, Issue 237, 7 October 1930, Page 4

MARKETS AT A GLANCE.

QUIET TRADING PERIOD.

LOWER PRICES ON BLUESTONE

WHITE LEAD MARKET FIRMER

'■Auckland Star"' Office,

Tuesday, October 7

Wholesale traders, grocery merchants in particular, experienced fairly good trading last week, deliveries showing an improvement towards the end of the week. Opening business yesterday was rather quiet, and therefore a rather quiet week ie anticipated. The changeable weather experienced during the past week has hindered retail sales somewhat, but as the weather is gradually showing an improvement, the liner and warmer days should certainly help to create more of an interest in the purchase of spring and summer goods. General. Trade *in wholesale ironmongery has been rather quiet, traders apparently adopting a hand to mouth policy in the buying of replenishing stocks. Wholesale merchants' stocks of canned mullet is is most cases reduced to a, minimum, and in some quarters they are out of stock. As the next catch will not be available until early next year stocks will be well cleared up before next season's becomes available. Further consignments of asparagus in all grades and packings have now landed, so that there will be ample supplies available for the coming season. Recent landings comprise soft shell almonds and Sicily almonds which will be required for Christmas trade. Shipments of English capers, kippered herrings, tinned lobster, olive and castor oil, as well as both bulk and packet dates, have also come to hand. A bonus scheme of half a dozen free with every six dozen of a popular line of wellknown tooth paste is now being made by the merchants. A further bonus of thirteen to the dozen is also offered on a highly-advertised and popular line of effervescent salts which should prove quite attractive to the storekeepers. Cheese quotations this month are lower, one wellknown brand in particular being listed at a reduction of %d per lb to merchants. Ex a vessel due to load at South Australian ports during the first half of October, suppliers are offering shipments of both washed, coarse and crude agricultural salt at attractive rates. By the same steamer further supplies of macaroni, vermicelli and' dried fruits will also be brought forward. One of the best-known packers, of Norwegian sardines advises that the fishing so far has been unusually poor, and that the large packers are buying up all the available iish to 'enable them to execute orders on hand. They anticipate that prices will not remain at their present level for any length of time, and predict increases in all sizes. New lists just to hand from agents for one of the best known lines of English coffee essence adviso that, owing to alterations in exchange and increase in duty, prices ex ship have been increased 1/ per dozen to merchants. New Season's Dates. Cable advice has been received that new season's direct steamer dates have been reduced 9d per cwt on all grades. A further cable advises that offers for forward shipment have also been reduced' 6d per cwt. Offers have also been received from Sydney making quotations on new season's ex the direct steamer at prices fractionally below the market. The difference, however, is so small that little, if any, business has been done on this offer. On account of prices generally being on such a low basis buyers have been inclined to hold off, and only a small proportion of the season's business has been transacted so far. As this market is considered to be below the cost at which it would pay the growers to operate, it is considered that the market cannot go much lower, and that an early reaction may therefore be expected. ' Ceylon Tea. At the last sale of the month, held on the 30th ult., one and three-quarter million pounds was placed under offer. Quality of the Uvas, Newera Eliyas both showed a slight falling off, but others were bright with good liquors. The result of the sale showed a good general demand, with all markets buying, including Russia. As the result of this increased interest commons and Price's broken Pekoes and finest B.O.P's remained firm. Exchange remained unaltered. Canary Seed. Canary seed is now showing a firmer tendency, prices advised by cable for both Turkish and Moroccan being listed at an increase of 10/ per ton on rates named some four weeks ago. As practically all the New Zealand requirements were covered at opening rates, very little interest is likely to'be taken in the present increase. Bluestone. All English and Continental brands of bluestone are listed to-day at very favourable rates, the latest price being about £4 per ton lower than the rates ruling a few months back.

Pepper. > Singapore pepper has shown a reaction during the week, a decline of approximately %d per lb being advised. It would seem that the recent rise in this market is apparently due to speculators, and the indications arc at present that prices will not be maintained. Very little activity has been noted on the part of New Zealand buyers as yet. Nutmegs and Mace. Whilst nutmegs have shown no change during the week, mace continues to advance, a further increase of 2%d per lb being advised. The advances in mace during the last few weeks have been very spectacular, and it is a question whether the late increases have been too sudden to last. Sago and Tapioca. A further small advance has taken place in both sago and tapioca. Mail advices received from Penang indicate that the market has very little life, and that shippers do not expect to see any very high level. Prices have, however, advanced week by week, and it would not be a surprise to see a reaction shortly. Further reports advise that Penang dealers have shown no inclination to reduce prices, which has forced exporters who were short to pay a fancy price for nearby shipment. Arrivals at port of shipment arc also rather restricted, due to drought conditions, so that there is a scarcity of supplies, which is keeping the market up. There is also a fair demand from India, and dealers are therefore taking full advantage of the situation. It is considered that Penang tapiocas are too high in price compared with other grades of tapiocas, and, in fact, all lines ot Straits produce are, in view also of the general financial stringency and restricted demand for all produce. Overseas buyers have so , far been disinclined to follow the advance, and it is therefore considered that it will only be a matter of time before dealers will be forced to reduce their prices. Paucity of demand will cause supplies to gradually accumulate, and when this happens dealers will be forced to reduce prices to meet buyers ideas. Preserved Ginger. Cable advice received from Hongkong advise that Chinese preserved ginger is showing a firmer tendency, latest rates being listed at an increase of %d per ID. Lentils. Calcutta No. 1 split lentils are now listed at very attractive rates, shipment being offered for steamer this month at a reduction on previous levels of 10/ per ton. Haricot Beans. Cables have been received during the last few days advising that forward quotations on haricot beans for shipment by the next direct steamer November- , December, have been listed at a reduction of £1 per ton, as against the prices ruling on shipments made during Julyj August.

White Lead. Last week there was quite an unexpected increase in English white lead, cables received showing advances of £2 per ton, and also advising that shippers were absorbing a percentage of the present exchange. As there has been no appreciable alteration in kindred commodities this last increase has been rather , hard to understand. Linseed Oil. New lists received advise that English linseed oil has shown a decline of 5%d per gallon on raw, boiled and pale oil for spread shipment, October-November and December. For spread shipment next year January, February, March and April, a further decline of VsA per gallon is advised. Muscatels. A cable received during the week advised that Californian muscatels, new season's, were slightly weaker, packers' quotations having declined 3d per box. Ground Almonds. The market for ground almonde has remained fairly steady for some little while. Cables from London now indicate that the market is weaker, and latest prices advisedi show a decline of 3/ per cwt. Bulk and Carton Raisins. In carton raisins a reduction of 6d per cwt on both Thompson's seedless and choice seedless for noxly shipment has been cabled. Jordan Almonds. Contrary to expectations the market on Jordan almonds is firmer, prices cabled during the last few days being at an increase of 3/ per cwt. Stockinette. After a period of very low prices stockinette has in recent cables been advanced 6d per roll. Cocoa Butter. The market for cucoa butter has shown considerable fluctuation lately, the latest prices advised showing a decline of 3/ per cwt. Wholesale Current Prices. Butter.—First grade factory, booked 1/3% per lb and 1/3 per lb for prompt cash; second grade factory, booked 1/2V6 per lb and 1/2 per lb for prompt cash; farmers' separator, 1/ per lb. Cheese.—First grade factory, medium size, mild, B%d to per lb net; loaf, 9V4d per lb net; Chesdalc, 61b bars, 1/3 pei lb, 7oz packets 9/6 dozen. Bacon.—Hams, 1/1 per IB , ; 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; roiled 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; AOQ's, £19 5/ per ton; 50's, £10 15/ per ton; 25's, £20 10/ per ton; 12%'s, £21 7/6 per ton; (SVl'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, Sd per lb. Peameal.—l2/ per 1001b. Linseed Oil Cake Nuts.—ls/ per 1001b. Linseed Meal.—l 7/ per 1001b. Bluestone.—37/6 per cwt.