GENERAL MERCHANDISE

Press, Volume LXX, Issue 21180, 2 June 1934, Page 12

GENERAL MERCHANDISE

GROCERIES Steady conditions have ruled during the week in the wholesale grocery trade. The volume of business keeps up fairly well, and there is 110 doubt that, speaking generally, trade has much improved, compared with this time last year. Luxuries are in bettor demand, and it is this particulai demand that is a lair indication of the better spending power of the consuming public. Collections are reported to be quite satisfactory. Tea A Colombo cable message advised that the prices ruling at last week's auction for Ceylon teas averaged as follows:—Broken Orange Pekoe, common 62-63 cents; medium, 70 cents, fine, 75 cents. Broken Pekoe, common, 61 cents: medium, 66 cents; fine, 72 cents. Broken, common, 60 cents; medium, 62 cent.,; fine, not quoted. There is no advice yet as to the size of the first auction catalogue of Indian teas for the coining opening sale at Calcutta. Dried Fruit All indications seem to point to Australian currants being very firm, and the reverse looks probable with sultanas. A recent London cable message states that there is considerable activity in currants in that market, and Australian currants, new crop, arc in strong demand at £42 5s a ton. As far as can be ascertained, no new Australian sultanas have been offered on the London market.. It is possible, of course, that some have been sold, but no records appear in the London dried fruit news. There is still a fair quantity, it is reported, of old crop Australian sultanas still held in London, on account of the Australian board, and latest sales recorded for the week ended May 17 were only 31 tons, at an average price of £3O 18s. It is probable that an endeavour is being made to clean up all the old season's fruit, before placing the new crop on the market. The Californian market for most dried fruits is still very firm, due j principally to the heavy demand now j established by wine-makers. Seedless j raisins of all grades show, on latest cable messages, a fair advance for prompt shipment, and the firmness of the market has already had an effect on new season's raisins. Some parcels of Mediterranean currants were landed by the Wainui recently and turned out satisfactory. They did not land quite so well as had been expected, but nevertheless the line waS welcomed. rilchards News from Vancouver this week states that this line is firmly held and there is much speculation as to how small the new pack will total. Some packers have already advanced prices, and a general lift in values seems certain. Barley and Peas Offers this weeK f.o.b. Melbourne quote Cape barley 2s 3d, good feed barley Is 9d. good f.a.q. milling peas 3s 6d, others 3s. These prices are low, particularly for barley. Preserved Ginger Owing to a sharp advance in raw ringer, the Dominion price of preserved ginger has started to advance. Already at least one packer has issued new lists showing Jd to 3d per Jb increase. and it is likely that furthei advances will follow. Not only has ( the price of raw material advanced, : but there is now some difficulty in obtaining it. Another feature m the advance of raw ginger is that it no doubt heralds coming advances in bleached and unbleached dry ginger, which in turn must affect ground ginger. Dates Cable news from London this week states that new season's dates from Basrah to New Zealand, via Australia, cannot be dispatched until the second half of October, as the departure of the first steamer has been delayed mtil then. This is rather disappointing news, and it is now doubtful whether new dates will be here in time for Christmas trade. London has advised importers here to cover at least a small proportion of present season's dates, so as to onsure some stocks for December trade. Stocks in London are small, and prices accordingly fairly high when compared with new crop quotations, but the question of ordering should receive consideration. Saso and Tapioca As predicted last week, this market in Singapore has started to decline, and at least one exporting house has cabled quotations for sago and tapioca which show on ait average nearly £1 a lon drop. The heavy buying period for the European markets this season is over, and there appears to be no reason for the recent, heavy advances. It is thought that the move was an artificial one to stampede buyers, and if this was the case then it was apparently not successful. Cherries One well-known pack of crystallised and drained cherries have increased in price by nearly 2d per lb. This is due solely to in-creased landing' costs of unmanufactured cherries. NEW COMPANIES ACT. On April Ist the New Companies Act: came into force. This will help to protect llie investor from exploitation, but it - is not. sufficient to protect investors from themselves. The best protection for the investor desiring maximum safely with good returns is in the New Zealand Investment Trust. Ltd. —the only type of British Trust in the Southern Hemisphere. For complete information write to the New Zealand Investment Trust, Ltd.. D.I.C. Buildings. Wellington (P.O. Box 1617). Branches: Christchurch, Dunedin, Invcreargill, and Auckland. Chief Brolicrs: The Securities Corporation (NZ.), Ltd., Christchurch. —5