COMMERCIAL.

New Zealand Herald, Volume LVII, Issue 17427, 24 March 1920, Page 5

COMMERCIAL.

fc WHOLESALE AND RETAIL.

DECIDED IMPROVEMENT.

THE PRODUCE MARKETS.

General business shows a decided improvement in the wholesale as compared with the past • fortnight. Forward bookings for next month's account are very satisfactory, the only difficulty being in filling orders. Stocks are in a very peculiar position, scores of well-known' imported lines being unobtainable. It is not even known when supplies will be available, as British manufacturers seem to be quite unable to cope with tile world-wide demand. , At the same time, it is to be not§4,with pleasure that some of them are taking a long view of things and are planning a huge increase in output. One firm is looking ahead to a maximum production that will not be reacaed till in the meantime Japanese manufacturers have been getting a, great trace, wnich it is very aouDUm if they can keep. Every mail Brings advices of advancing prices ana inability to repeat orders on ■ termer terms ember m price, Quality, or time 01 delivery, bimuatu American trade is booming, as fast as t£e adverse excliange rate will allow it, but when the tfritien plans are nHlmed there is little question that tne old-time supremacy will be regained. reduce: Several steamers have recentlv arrived rrom the South, and several lines in Southern produce are in better supply, it is noticeaole, however, that no relief has come m regard to wheat and flour, ana it 19 evident that there is going to be tne greatest difficulty in getting sufficient supplies throughout the year. Potatoes: Demand keeps good, and any potatoes of Quality are readily placed, but tlie rain has caused a good deal of second growth, and Quite a number of indifferent samples have been sent in, which are difficult to ? I *?*- j The best are worth 13s 6d ex store, and the demand should be sufficient to take S£*". that come into the market until the axe* ot trie Southern arrive. Onions: An improved demand is reported tnis week, and reduced supplies are keeping the market firmer at 16s ex store. Shippers are getting their consignments ready tor the next mail steamer for Vancouver. Oats: Several shipments have recently come to hand, and the local market is so well supplied that the price is kept low in comparison with Southern values. Demand is still quiet, and only small lines are moving °n_« bs 7d ex store. Wheat: The utmost difficulty is being experienced in getting supplies in the South, and it is generally reckoned that anything of quality will be eagerly picked up this year tor milling purposes, so that fowl feed is going to be an. awkward problem. On the otner hand, the news from Australia this week indicates that stocks on the other side are not as low as had been generally supposed, and, if there is still a bag surplus for shipment to Great Britain, it may still be possible to get what we reQuire, now that more shipping is available. Quotation, is about lis ex store. Flour: A decided scarcity exists, and only limited quantities can be supplied until arrival of Southern flour to supplement the local market. Bran and Pollard: Both continue m good demand at the Government prices. Supplies are rather. smalL , *>*— Chaff: Several steamers have brought supplies, so that there is now no scarcity of Southern chaff. Best quality is selling at lo f 6d ex store, »nd the demand keeps up. Maize: Only moderate quantities have arrived from the coast, and the market is firmer at 9s 3d on the wharf in wholesale lines. It is estimated that stocks are getting low in the Bay-of Plenty, and that there will be some difficulty in keeping the market supplied until the. new season's grain arrives, but the .Mokoia is bringing a consignment of Fiji maize, which will help matters considerably. This, should, 'tneet &- good demand if it is free from weevil*. Barley: A little better inquiry is reported, but full stocks are held, and there should be ample to meet all demands. Grass Seed: Sales for bush clearings can now be regarded as finished for this season, but fair quantities are still being taken for ploughed land, and seedsmen, also report a good inquiry for lawn grass. Fertilisers: Bonedust is very scarce, and this .is. increasing the demand for other descriptions of fertilisers. . Ephos phosphate from Egypt is meeting a very keen demand. * Flax: The alteration in the exchange on. America is having a natural effect on the flax market, and. prices have come back a little. Good -fair is '•*""' hands this week at £34. and fair at £30 to £32, according to points. Buyers for America are keeping off. and there 'is practically no business doing there, as they look for lower prices. Kauri Gum: The American market has a slightly lower tone in kauri gum also, but this makes very little difference locally, as there is an unsatisfied demand for shipment to London. Supplies are only limited, and any good grades coming in are picked up at once.

FOREIGN EXCHANGE. The Bank of New South Wales has received cablegrams Quoting the buying rates (approximately) of foreign, exchange for on« demand bills on London as follows:—

THE LONDON MARKETS. BUTTER AND HEMP PRICES. ■ [BY TELEGBAPn.— ASSOCIATION.] WELLINGTON, Tuesday. In a cablegram from London, dated March 20, the High Commissioner says:— Butter.—There has been so change in the price of Government •• controlled butter, which is Balling at £15 3s 4d per cwi. wholesale and 3s per lb retail. For English free butter the average price is 3a 9d par lb wholesale. From March 81 Irish butter will not be controlled, and then can be cold without restrictions. Hemp.— Manila market is Quiet, and prices . were slightly weaker daring this week. "J " grade, January and March shipment, sold at. £72. Present quotations are: January to March shipment, £71; March to May shipment, £69. Buyers in the New Zealand market are quiet. Present quotations are:—On spot, high points, £65: fair, £60; February and April shipment, £60 and £58 respectively.

LONDON WOOL SALES. AN ADVANCE IN PRICE. [by TELEGRAPH.PRESS ASSOCIATION.] WELLINGTON, -Tuesday.. The High Commissioner's cablegram, dated London, March 20, states: The eleventh series of Government wool sales commenced on Monday night with an unusually large attendance of buyers. There was good competition from all sections or our trade. Compared with the closing rates of the lastseries Merinos and fine croaobreda ruled about 5 per cent, dearer, while medium and inferior crossbreds were unchanged.' They have improved, however, since the opening, and they- are at present selling at from par to 5 per cent dearer. Compared with the closing rates of the February sales the prices have advanced about 10 per cent,- all round. CANTERBURY PRODUCE MARKET. [Br TELEGRAPH.— ASSOCIATION.] CHBISTCHTJBCH.I Tuesday. Wheat has been coming forward very Blowly during the week. Most of the crop is yet in stack, but, as threshing operations are being carried,on in all districts, the stream of supply should set in next week. Oats are offering freely, but the market is not bo keen as it was a week or two ago. Algerians have eased on account of North Island busere obtaining Australian dressed lines, which has reflected on the Canterbury market to the extent that prices locally have dropped fully Is per bushel on the quotations of two weeks ago Prices at present are not stable, and only a few forward sales have been made. The price of cocksfoot has receded about 3d per lb, and it is difficult to get merchants to operate at much above Is per lb. Better prices are prevailing for clovers. The barlow market is quiet but firm. Potatoes are not "yet m much demand, and there are no buyers for onions. . -

PROPERTY SALES. Messrs. T. Mandeno Jackson will offer for sale by public auction at their rooms, Customs Street East, at two o'clock this afternoon, leasehold property having 69ft frontS», t°, WeJleriw Street East and 45ft to Rutland Street, together with the twostoreyed structure J 300 "? M *» GirlsFriendly Society Lodge thereon; also freehold property havag.soft 'frontage to New! ton Road and 75} ft to Devon Street, five minutes from .Symonds Street Id section, together with six-roomed dwelling thereon.

March XI. Par. New York—DoL to £1 3.75 4.866 Montreal— to £1 4.17 4.866 March 9. France—Francs to £1 49.70 25.225 . Italy—Lire to £1 .. 65.10 25.225 Madrid— to £1 20.55 -- 25.225 Bwitzerland-r-Fr. to £1 21.50 25.225 Amsterdam— to £1 2.90 12.107 March 8. - Batavia—Glds. to £1 9.40 12.107 March 9. Stockholm— to £1 18.25 18059' Copenhagen—Kr to £1 22.60 18.159 Germany—Mark to £1 310.00 20.43 Helsingfors— to £1 73.00 25.207 Calcutta—fit. to Eup» 2s 6d . 16d Three months .. 2s 6H I6d March 8. Hongkong—St. to Dl* 5s 5d March 11. Singapore—St. to Dl* 2s3|d March 5. YokohamaSt. to sen O.D. selling .. 2s 7 ll-16d 24 29-5M O.D. buying .. 2a 101d 24 29-50d 'Telegraphic Transfer.