MARKETS AT A GLANCE

Auckland Star, Volume LXV, Issue 239, 9 October 1934, Page 4

MARKETS AT A GLANCE

STEADY TRADING

NEW SEASON'S INDENTS ARRIVING TARTARIC ACID REDUCED. "Auckland Star" Office, | Tuesday, October 9, 1934. Wholesale merchants advise that busi- j ncss has remained at steady volume throughout the past week, and that trade opened up rather well yesterday, so that [ there is every anticipation that consistent I turnover will he maintained. The retail trade are now receiving numerous indents from overseas of new season's goods for • early summer and Christmas trading, and this is giving a good fillip to over the I counter sales. General News. Californian iigs, which were advised as arriving last week, are now being distributed. The main packings of interest arc 4oz and Soz cellophane cartons, which, , on being opened up, have proved an ex- i eellent sample. Stocks after storekeepers' indents have been executed will be rather ! small, and it is expected that there will be I very little available for ordinary selling, i so that any interested buyers are advised j to cover quickly. An increase in the price j of hops has been advised by Southern packers, the advance being approximately | (id per lb. Small .parcels of dried peaches and apricots, both 1 and 3 Crown quality, which arrived last week, have been much in demand, and it is expected that the stock now available will be only sullicicut to cover requirements for a very little while. The first shipment of Australian muscatels has now been taken delivery of by merchants, and is being distributed to tlic various retail stores. The quality is excellent and ready sales arc anticipated. Of particular interest is a handy cellophane packing of muscatels and almonds in both S'/uoz and Boz sizes, which will undoubtedly sell well. Unfortunately, part of this line was short-shipped, and the balance is not likely to arrive before November. The greater proportion of present consignments has already been sold forward, so that there will be very little available lor ordinary selling. A full range of Californian prunes has just recently been landed, and aljjo a few Australian have conic to hand in certain grades. The demand is heavy, as at this time of the year this class of fruit is much in demand. A line of tine cut cigarette tobacco in -oz and lib tins previously in short supply, is advised as being available within the next few days. Due to the reduction in duty which will take place on November 1, retailers and merchants are ordering sparingly, with the result that there is every possibility of shortages on some brands of cigarettes between now and that date. Naturally neither storekeepers nor tobacconists are anxious to make any loss on stocks, and consequently thev have reduced buying to a minimum. Tallow has been slowly but consistently advancing for some time, the latest advance bringing prices up £5 per ton, in comparison to what they were some time ago—a good hint that storekeepers should not let their soap supplies get too low. Arrivals from overseas and coastal ports during the week comprise consignments of sheeps' tongues, matches, cigarette papers, bulk natural raisins, macaroni, apricots, fine salt, sliced mixed peel, loji packets mixed spice, loose mixed spice, bulk cocoa, Lesia raisins, both 12oz and lOoz seeded, sultanas in 1, 2, 3 and 4 Crown I grades, 1 Crown peaches, one gallon tins of olive oil, Canadian macaroni and vermicelli, bulk tea, sliced peaches, desiccated coconut, rice, mutton birds, coarse salt, canned apricots, pears and peaches in various grades, Norwegian brisling in 1-lGth and J /i's, 2 Crown peaches, plain sultanas, prunes, currants, muscatels in various packings, red herrings, fish paste, capers, herrings in sauce, fresh herrings, fluid magnesia, tobacco, salmon—Cohoe %'s and l's, pinks %'s and l's, chums l's— greaseproof paper, curry powder, capers, Epsom salts, powdered magnesia, borax, figs, pilchards, sockcye salmon, etc.

Tartaric Acid. Further advice received in connection with the recent reductions in tartaric acid is that English quotations show a decline of £19 per ton. Australian prices arc also down, and, on a comparison with English rates, are most competitive, and a fanamount of business has already been transacted. Ceylon Tea. At the "usual weekly sale of Ceylon tea held at Colombo on the 3rd instant, 1,500,000 pounds weight was placed under offer. Quality was fully maintained, with good selections of Dimbullas and Dickoyas being offered with improved quality. The result of the sale showed a strong general demand with the market advancing heavily, except for best kinds. A severe drought continues, and buyers are advised to expect small supplies. Exchange remains unaltered. A tea report, dated the 6th ultimo, advises that 7,503,5401b came under the hammer during August, compared with 8,232,5661b during August, 1933, and 11,170,5391b in five sales during the previous month. This quantity showed a further slight falling away of available supplies. At the first auction of the month there was a good demand lor all types, and low-grown teas in particular showed an advance. High-grown teas were also occasionally sought after, and the average price realised for the total offerings advanced to 66 cents, as compared with 63 cents at the last sale in July. The next auction found medium and lowgrown types steady, whilst better prices were paid for high-grown types, particularly fine Uva teas, and the average advanced to 68 cents. In the next two sales, however, commons and mediums declined steadily, whilst good and fine teas were irregular and easier, with quality occasionally showing a falling off. As a result the average fell to 66 cents and 63 cents respectively, low-grown types showing the greatest fall, except for the Orange Pekoes, which were still maintained at the high rates realised during July. The average for the month was 65.75 cents. Quality was very good until the auction of the 28th, when some irregularity was shown. Prior to that some really fine teas had been offered and good prices paid for them. The weather continues to be exceedingly dry, and m some cases the long drought is having a serious effect on the tea. Crops from the Uva" and districts with a similar climate, are expected to be very short during September. London stocks are still rather heavier than was expected, and are no doubt responsible for the uncertainty which has recently been shown. Pepper. After registering a sharp advance over the last few weeks, the market for pepper, has steadied up and quotations are now listed at a reduction of %d per lb. the market is still very high, and buyers are not displaying much interest at the moment. Nutmegs and Mace. Nutmegs continue firm, an advance of %d per lb being recorded in 110's. Mace, on the other hand, is not quoted by one prominent shipper, their principals advising that no supplies are available in either Amboya or broken qualities. «t Pineapples. There has been practically no activity in the pineapple market for some time, prices remaining at an almost unchanged level for the past few weeks. Cables received last week advise reductions as follow:—l%lb cubes %d per dozen, 21b sliced and crushed %d per dozen, V/2VO crushed %d per dozen, l%lb cubes and second quality Id per dozen and lVfdb. sliced tails i second quality %d per dozen. Allowing for the present reductions, prices quoted to-day ate practically on a par with those ruling over the last two or three shipments, with the result that buyers are now showing a little more interest. Spot Btocbs are diminishing rapidly* yd&i iha

iiilfc that importers are finding that they I b being forced to bring supplies forward i Australia to see their Christmas reircments through. | Sago and Tapioca. The market for sago and tapioca and snang grades continues firming, prices in ;t week's cables advancing a further 6d r cwt. Pcnang grades arc now at the idlest level seen over the last three iirs. Singapore sago, on the other naml, ,s not so far advanced in sympathy with :nang prices, latest advices on this grade vising a reduction of l%d per cwt, makg a difference of 25 per cent between o two grades. Currants. Cable advices received during the weekid indicate that quotations for new crop icek currants are slightly easier. Jordan Almonds. The market for Jordan almonds is said be advancing rapidly. Quite good busi■ss has been done, and supplies are iming in very slowly. The farmers are )taining good prices owing to the demand, id tlie fluctuation in exchange has also :en responsible for part of the advance the market. Butter Beans. Quotations for butter beans generally u very firm. Prunes. Quotations for new season's Californian •lines have shown further advances in ibles just to hand. Shipment can be iread to February, but Californian grows advise that only 25 per cent of an ilc can be executed in 30/40's. Advices ive been received from Australia to the feet that owing to abnormal winter eat her some early flowering has been lused on the prune trees, but latest inirmatiou is that there will be a fair op. British Columbia Salmon. Advices just received in connection with ritish Columbia salmon, under date Sep•mber 11, state that owing to the weather i looks very much as if the pack of hums is likely to be considerably reduced, i areas where reasonable supplies have ecu available heretofore, there does not :em to be a plenteous showing. A larger ipply of Pinks have been produced than as been anticipated, which to some stent will offset the likely shortage in hums. Between the two, however, it is ot expected that then- will be anything lore than a suflicient supply. Cohoe pronation has been higher than expected, lthough the bulk of the excess produced as disposed of in Great Britain as soon a it. was available. There are still some isistont calls for Cohocs from British 'olumbia for the British market, but bow mg these calls will continue to come is ather uncertain. The production of Sockye was just about the average, excepting l the Fraser River, where quite good runs r.ok place early in September. These eptembcr fish are not ordinarily thought o much of as the earlier run, but there < an interest in them meantime for the (ritish market. The present market posiion is:—Chums: Very strong, due to horlagc in supply. Pinks: Moderately frong. Cohocs: Firm. Sockeye: Good uality available only in limited quantiics. On the whole, there seems to be uito a strong market. Notwithstanding he large production in the United States, he markets there have firmed up very [clinitelv within the past few weeks, dvanc.es having taken place in all species. Wholesalo Current Prioes. Butter.—First grado factory, booked i%d per lb. and 9d per lb for prompt ash: second grade factory, booked BVkl icr lb, and 8d per lb for prompt cash, ''armors' separator, 7d per lb. Cheese.—First grade factory, size (80's), 5%d per lb net; best quality medium ■tO's), 6V4d per lb; first quality, Od per b; loaf. 7Vid per lb; tinfoil, %lb pate, /.'i per lb. Honey—Bulk white, O'/id per lb; light imber, 5V4d per lb. Bacon.—Hams, ll'/4d per lb; rolled dams, 1/OV6 per lb; cooked ham, 1/5 per lb: cooked pressed ham, 1/0 per lb; bacon 10% d per lb; rolled sides, 1/ per lb; shoulders, B%d per lb; rolled shoulders, 3%d per lb; middles, l/ per lb. Lard, bulk, Od per lb; pate, 7d per lb. Linseed.—Crushed, 24/9 per cwt; whole, 33/9 per 1001b. Linseed Meal.—l 2/9 per 1001b. Flour.—Local: 2001b sacks, £14 12/0 per ton; 100's, £15 10/ per ton; 50's, £16 per ton; 25's, £10 15/ per ton; 12%'s, £17 2/6 per ton; GVs, £18 2/6 per ton. Malt.—Crushed, 10/3 per bushel; whole white, 9/6 per bushel; whole black, 11/6 per bushel. Twines. —SeamTng, first quality, 2/3 per lb; second quality, 1/11 per lb; binder, 49/6 per cwt. Blucstonc.—27/6 per cwt.

GRAIN AND PRODUCE. POTATOES STILL CHEAP. FOWL FEED STEADY. Moderate supplies of Southern potatoes have reached Auckland this week and values are steady at about last week's rates. Consumption is quite good and likely to remain so for another few weeks, despite competition from early-grown locals. There is still some demand for seed for late plantings. The onion market shows little change. Canadians are in good demand at the low price—for this season of the year—of 13/6 per cental bag. Pukekohe lines also find a ready sale at about 1/6 per 1001b less. These are picked over before being marketed and reach the merchants in good condition. Pollard and Bran. Pollard and bran still show a satisfactory turnover, with no change in prices. The Australian market has a slightly easier tone and quotations 2/6 lower have been received. Fowl Feed. Fowl wheat is very firmly held in the South and local rates are unaltered at 572 per bushel for graded lines. Undergrade, of which very little is offering, can be bought for a few pence less. Maize is now available in full supply, both from Tauranga and Gisborne, but holders are firm and there has been no change in prices. Horse Feed. With no improvement in the Southern oats market, local dealers have dropped their prices a penny and B Gartone are now available at 3/4 per bushel, through store. Chaff is unchanged at £7 15/ per ton. Both lines are quiet. Wholesale Current Prices. Pollard and Bran.—Mill prices: Pollard, £6 10/ per ton; bran, £5 15/ per ton. Merchants' prices: Pollard, local, £6 15/ per ton; Australian, £6 15/ to £7; bran, £6. Oats. —Feed: B Gartons, 3/4 per bushel; A Gartons, 3/9; clipped Dunns, 4/3; clipped Algerians, New Zealand, 4/6; clipped Gartons, 4/. Fowl Wheat.—Canterbury, graded, 5/2; under-grades, 4/10 to 5/ per bushel. Maize.—4/2 per bushel. Barley.—Feed: Clipped, 4/ to 4/3 per bushel. Seed: Cape, 5/ per bushel. Barley Meal.—B/6 per 1001b. Wheatmeal.—S/6 per 1001b. Chaff.—G.b.o.e., £7 15/ per ton, for Southern. Potatoes.—Table: Southern, £4 15/ per ton. Seed: Gamekeeper, Arran Chief and Northern Star, 5/9 per ' cwt; Early Puritan, Sutton Supreme and Up to Dates, II; Robin Adair, 11/6; Maori Chief, 7/9; Iron Duke, 5/9: Epicure, 12/. Onions.—Local, 11/ per cwt; Canadian, 13/6 per 1001b bag. STILL MOUNTING. PRICE OF GOLD. i NOW £7 2/6 PER OUNCE. J LONDON, October 9. Fine gold is quoted to-day. at .£7 2/6 lan pence,