COMMERCIAL.

New Zealand Herald, Volume LVII, Issue 17444, 14 April 1920, Page 5

COMMERCIAL.

WHOLESALE AND RETAIL. GOOD BUSINESS CONTINUES. PRODUCE MARKETS ACTIVEGeneral business continues very active in wholesale end retail. Buying has been resumed since the holidays on a very encouraging scale, in spite of high prices in all departments. In {act. it is often thought that the rising prices are the cause of a good deal of the extra buying that is taking place in order to obtain stock before it rises still higher. I Shipping has been exceptionally busy since the holidays, and heavy orders have been booked tor delivery from the various steamers at the wharves or held up in the stream. Tl e delay to the Koromiko was specially unfortunate, as her cargo of produce and general merchandise was badly wanted, and importers would _ naturally wish that the f-teariier should discharge at once and go back for another much-needed cargo, instead of eying in the stream for the best part of a week. It noticeable that the improved shipping on the coast has been unaole to overtake the arrears of cargo waiting in the South, and enly this week thippers in Christchurch referred to the space they had " succeeded in obtaining" for a small fraction of the goods they wanted to send. It is to be hoped that the return of the Mokoia from the Parliamentary trip will improve the position, but it must be borne in mind that the quantity of cargo will increase irom now on-, as compared with reduced traffic during the summer. 'In potatoes alone, which have not been arriving ■ during the summer, about 6000 sacks per week will have to be shipped during the next six or seven months, and the new grain will also be coining in soon. Produce: The markets are active, with heavy business in local produce and Southern Unas. Potatoes: Plenty of local are coming in, but the quality is generally rather indifferent, and peop e are getting tired of them, wanting Southern in preference. The best are soiling at about 13s 6d ex store, poor qualities realising down to half that price, but a better demand is expected when the Southern arrive. These should have been here in plenty by now, but the shipping cannot deal with the cargo offering, and hundreds of tons of potatoes for Auckland are held up at the various Canterbury ports. Onions: Supplies are plentiful, in spite of a large shipment having gone by the Makura to Vancouver. Onion. l were also shipped from Wellington to San Francisco, but a good crop is reported in the South, and the market is weak at lis 6d ex store for best quality. * . Oats: Several shipments have arrived, but these are quietly working down through saita of small lots at 6s Sd ex store. The Southern market is particularly firm, even though Auckland buyers are not operating heavily, and it looks as if any extra inquiry wouid immediately lift the market. The Southern position is probably influenced by the dry weather in O.tago. This set in too late to materially reduce the o~t yield, but it will cause farmers to keen back more for their own use, which would otherwise have come info the open market. Wheat: The price for fowl wheat is at last gazetted, the figure being fixed at 9s 2d plus the price of sacks, and this works out at about 9s 3d or 9s lOd. Unfortunately there is practically no grain to be had. either at this or any other price, so that there is not much satisfaction so far in the information gazetted. What poultry farmers want is some wheat to feed their fowls. Flour: A little Southern has recently arrived, so that the position is' a little better. Orders are not yet being execnted in full, as the local mills are inundated with heavy orders. , , ' , Bran and Pollard- Both are short of requirements. Demand keeps heavy. Chaff: Southern is in better supply at £15 ex store. Local is coming in more freely, and is realising £12 10s at the station. 'Maize: Fair quantities of Bay or Plenty maize are arriving, and realising 9s on trie wharf in wholesale lines. The quantity coming in would be insufficient, but merchants are able to fill orders with Fiji maize that arrived by the Mokoia. Extra choice sanroles of East Coast maize are realising up to 9s *d on the wharf. Flax: The Wrnkatane and the Canadian Raider have both beea loading a good quantity of flit, so that th» local position is considerably improved after a long p-riod. duriri" which heavy stocks have been he'd in store. Buyers for export are pivine f?3 for good fnir.and £29 to £31 for fair, according to points. FOREIGN EXCHANGE. The Bark of New South Wales, has re ceived cablegrams quoting the buying rates (approximately) of foreign exchange for or demand bills on London, as follows— April 6. Par. New York—Dot to £1 4.04 i 4.806 Montreal— Dol. to £1 4.42 4.566 France—Francs to £ 1 68.50 25.225 Italy—Lire to £1 . . 81.10 25.225 Madrid— to £1 22.-28 25.225 Switzerland—Pr. to £1 22.20 £5.223 Amsterdam— to £1 10.60 12.107 March 29. Batavia—Gids. to £1 10.35 12.107 April 6. Copenhagen— to £1 21.35 ... 18. 159 Stockholm—Kr. to £1 17.95 18.159 Germany—Mark to £1 260.00 20.43 Helsingfora— F.M. to£l 73.00 25.207 March 31. Calcutta— to Bup* 2s 4d 16d April 6. Hongkong— to Dl* 4s lid 16d April 5. Singapore—St. to Dl* 2s Sid March 19. Yokohama—St. to yen O.D. buying . . 2s 6|d 24 29-50 d O.D. selling . . 2s 5 1-I6d 24 29-50 d 'Telegraphic Transfer. PROPERTY SALES. Samuel Vaile and Sons, Ltd.. will offer for sale by auction at their rooms. Queen Street, at 2 p.m. to-day: Bungalow of 6 rooms in Acorn Street. Royal Oak; bungalow of 7 rooms in Milton Road. Mount Ed on: two houses of 5 rooms each at Nos. 27 and 29, Castle Street, Grey Lynn; house of 6 rooms at No. 29. Wood Street. Ponsonby; house 6 rooms at No. 15, John Street ; house 6 rooms at No. 15, Bayfield Road: also two lots in the Oneroa and Brown's Bay estates.