COMMERCIAL.

New Zealand Herald, Volume LVII, Issue 17361, 7 January 1920, Page 5

COMMERCIAL.

WHOLESALE TRADE BRISK. EVERYTHING HELLIXG WELL. Wholesale business has opened very well this reek. The retailers have had such an exceptionally heavy trado that they have been obliged to como into the market for fresh supplies. Forward buying is being conducted with conidence, as money is plentiful, and there .s no difficulty in disposing of everything that is obtainable. The most pronounced feature in he market is the scarcity of pr;ictically evi rything. Clothing: Prices ire largely based oil cotton and v>ool, and there are no indications of lower prices in either department. With the total yield of cotton for tho United States plated at 10,696,000 bales, this season's crop is again a short cue, and it may be observed that this is tho fiilii successive crop below the 1914 record pro duction. Great efforts are being made to increase production elsewhere notably in Egypt and the Soudan, Palestine and Mesopotamia, but for the present the bulk of supplies must come from the State. The cotton boom in Lancashire is marvel lous, and is based on an unprecedented demand from all parts of the world. India is far and away the best customer for Lancashire cottons, and that trad, has recently had an immense increase. The extraordinary fluctuation in the price of the rupee, which has risen from Is 4d to 2n s{d, actually helps ths cotton trade. When an Auckland merchint buys l/ant - djit or cornsacka in India, or tea in Ctylot, he has to pay cash at the higher price f each rupee in the invoice, thus re3tri:t----o trade. But when a Calcutta merchant buys cotton in Manchester he gets cotton to tho value of 2s 5Jd for each rupee he pays, thus promoting trade. In woollen go jds there is an insatiable demand, and Bradford reports indicate a rising market in all descriptions, with inadequate supplies. Produce Prices. Produce : The markets are well supplied with southern produce, but local is naturally in shorter supply since the holidays. However, this will soon be altered, and there is little doubt that the nest few weeks will see an enormous increase in i.;th r ity. Potatoes: Very few have ccrao in this week, and the price is a little firmer, best quality selling at 14s et store. The yield is very disappointing in the immediate neighbourhood of Auckland, as a result of the dry weather. Some farmers in digging are not finding a single large potato, while the general size is well below the average. Onions: Local are steadily improving m quality, and are selling at about 22s 6d to 255, ex store. The crop is a poor one, and it is expected that the price will keep much higher than usual. Southern Oops: During the last few days forward ((notations hare arrived which indicate poor crops of onions in the South alro, I*" is too early to know how they will ret.lly turn out, but aparently a.i? reduction in output in the South will not be for want of rain. In Otago the spring was about the wettest that has ever been known, an increased deluge of rain interfering with planting operations to some extent. Oats ; Good supplies are held here, and price is unchanged at 6s 6d, ex store, in smr-11 lines. _ _ ? Wheat: Fowl wheat continues in good demand at 9i: 6d. Flout, Ocafi and Maize. F'.our; Wtih regard to the rise of 2s 6d per ton ir. the price of small bags of local flour, it is to be noted that Southern mills have advanced their small bags 5s per ton. This advance is owing to the steady advance in all bagging material. Chaff; Southern is more plentiful, but the price keeps very firm at £14 10s t.j £15, ex store. Very little local is coming in, and the same applies to hay. Farmers are evidently keeping back what they have, in ca?e they want it themselves in a. drv autumn, and some have ev«n begun to use their bay already. The rain on Mondav morning will not make the slightest impression 011 pastures. liven on due jr pkughed ground it was hardly noticeable in its effects. Maize : Demand keens good for this time of the year, 110 doubt largely owing to the position in regard to wheat. Latest consignments have realised 83 to 8s 3d on the wharf in who'esale lines. Fertilisers : All descriptions are in good demand, but supplies arc limited. Fencing Wire : Another small lot of American plain and barbed wire has arrived .to a good market. The price in New York shows a distinct inclination to harden, and English juices are very firm. Kernsene; An advance of Is per case is announced.

THE LONDON MARKETS. HIGH COMMISSIONER'S REPORT. [BY TELEOBAPH.— association] WELLINGTON. Tuesday. The Department of Agnail*uro. Ir.di tries, aid Commerce has rci-emd tlie following cablegram. under date January 3, from the His ti Commissioner for New Zealand in London. — . . . . Hemp The Manila market is active at higher prices, and good business bp i own done. "J " grade. August-October shipment to October-December shipment was s<»a early this week at £5S 10s 6d and the JanuaryMarch shipment at £58. £ t the close or the market the September-November shipment and October-December rpioted at £60 10s and the January-March shipment at £61. The Now Zealand market is fi.-m, bat quiet. High points, on spot, early tuis week was quoted at £53 and the Jaau&ry-Marrh shipment at £51 10s. Fair, on fi>ot, »•« Quoted at £48 sad the Jon nary-March shipment at £47. Hipu poinw is new quoted at £55 on spot, and the JanuaryMarch shipment st £53. The following were tin- rulmsr m&TK.H prices as at December '21 last.— Cheofo: The price was -.r.creased as from December 23. all chee*', whether imported or English, selling at Is sid wholes* akd Is 8d rota.J. t Hsmp; The Manila market was firm aim rood business was done at better pncf<. "J" gTade in dock sold at £54 10* sr.d Ms August-October shipment .tnrt Septum I ofNovember shipment was quoted at •£•>; Or buyers. October-Deccmbcr shipment sr.d January-March shipment sold at £55 3s and £55 10s respectively. The >ew Zealand market was Qitiet and steady. Hiffa point on spot sold at £51 10s.

PRICES OF METAL. * ' Australian and N.Z. Cable Association. (Reed. 10.45 p.m.) LONDON. Jan. 5. Metals, particularly tin, h.ivo further ftdT& Copp«r: £120 2s Sd and £12.! 10s. Electrolytic: Ingots, £126. Wire: Bars, £128. Load: £47 10a ft nd £47 15s. Spelter' £59 10a and £61 10s. Tm. isos 6s and £367 sa. Silver; 76jd per standard ounce. SOUTHERN EXCHANGES. pre TELEOBAPH.—PRESS ASSOCIATION.] DUNE OIN, Tuesday. fe ■««: Mount Lyell (ex-div.). at 26s 3d Huon-t-Parker (ard.), at 4Ss 6d.