COMMERCIAL.

New Zealand Herald, Volume LVII, Issue 17450, 21 April 1920, Page 5

COMMERCIAL.

WHOLESALE AND RETAIL. GOOD BUSINESS REPORTED. PRODUCE MARKETS ACTIVE. The week has opened up -very well for the wholesale houses. Orders for next month's account are being received on a, very generous ecaie, 'and fortunately it has- been a little more easy to execute some of these, is very heavy shipments have arrived during the past tew weeks. At the same titan it Must be clearly understood that stocks are In a very precarious condition, lunge shipments appear to vanish as fast as they are received into store, the demand being insatiable. Even heavier demands than usual have come in during the past few days, Largely on account of the festivities in connection with the coming week-end. Drapers report an exceptionally busy time, while dressmakers and tailors are dealing with an increased output. Cotton Goods: The recent cable announcing a further rise in cotton is of grave significance as an indication of the general trend of the market. There is only too much reason to fear that the world is on the eve of a cotton famine that will send prices soaring to higher limits, and ultimately may inflict grave hardships en the industrial population of Lancashire. An exhaustive report upon the whole subject has just been completed by the Director of the Intelligence Department of the Federation of British .Industries, the great organisation responsible for the " £10.000,000,000 Congress" recently held in London. The conclusion reached is that the world is within clear sight of the danger line. It will have been reached when there is not enough cotton to go round. During the wax the world used more cotton than it produced, but was able to draw on its large reserve stock the season 1914-15 being responsible for the addition of three-quarters of a million bales to the accumulated stocks. Since then 'each year has shown a heavier consumption than production, and the reserve stock has gradually disappeared. When it is gone we may look for & rash for the available supplies, and a price for the finished article that will cut. down consumption to a minimum. The main factors in the situation, according to this authority axe, on the one hand, a steady, fall in the cotton crop of America, difficulties of expansion in Egypt, and irregularity of the crop in Egypt, leading to a general world shortage of supplies On the other hand, this reduction is coincident with great expansion of demand in America and the tropics, and general world increase owing to the wool shortage. World's Wool Output. Wool: The authority in Question makes an extraordinary statement in regard to wool, which deserves to be quoted verbatim, having regard to its intimate bearing upon the most valuable produce of New Zealand and Australia. "We are drawing on the old world surplus in the case of wool, just as in the case of cotton. That surplus has fallen from 2.620,000.0001b to 924,000,0001b in two years. The production of wool is, from one cause and another, dropping rapidly. I estimate the present total decrease in exportable wool of 20 per cent., equal to 300,000,0001b, equal to the pro-war imports of the United States, Russia, Norway, Sweden, Denmark, Holland and Japan combined. That is to say, in order tht we might regain our normal posi' tion, not one of those countries ought to import an ounce of wool. Drought in Australia has reduced the flocks from 85 to 68 million, sheep. South American wool production has been declining for many years, owing to the competition of wheat. Throughout Europe there has been a wholesale slaughter of sheep for food since the beginning of the war. The famous Saxony merino sheep are almost extinct. Perhaps the most serious thing is that there is practically no chance of making up leeway for many years, because it now pays far better to grow cross-bred sheep for mutton than the finer kind for wool-bearing breeds. The fight is going to be between clothes and food, and food, is going to win." Building: Demand is keen, for all building material, the inquiry for home-building being almost unlimited. Operations are curtailed by the shortage of labour and material Produce: The markets are active, with a heavy turnover in local and Southern goods. There has been an unfortunate delay in handling some of the latter, cargo being partly undelivered from one vessel thai arrived over a fortnight ago. This it attributed to the congestion of shipping in the port, in spite of the great increase in berthage accommodation. Potatoes: Stocks are rather low at present, but large quantities are to come up from Canterbury as soon as shipping space if available. Best quality are worth 13s ei store, but inferior are difficult to place. Onions: Heavy shipments have arrived from the South, and the market is over stocked. Best are selling at 12s 6d to 13 ex store, but the demand is not yet ver: heavy. The Cereal Markets. Oats: Small quantities are moving off a 6s 7d to 6s 8d ex store. Quotations kee] very firm in the South. Wheat: The price for fowl wheat is not fixed by the Government at !-"i 2d, plu: sacks at 2s 4d each, but very little is obtain able. Chaff: Heavier stocks are now available as several lots have arrived from Canter bury and Marlborough. Best Southern ii worth £15 10s ex store. A little local « coming in, and is realising £12 10a at th< station. . Hay: Business is quiet,. sis not much i; coming in, and the inquiry is decidedly limited. Best samples are realising about £8 it the station. Maize: Price keeps firm at 9s 3d on th« wharf for wholesale lines of Bay of Plenty, but Fiji maize is not worth so much, anc is being pushed off this week. Fertilisers: Stocks are dangerously low, and there is great anxiety as to how th« urgent requirements of farmers can be satisfied. _ ... .- , , Kauri Gum: The market is particularly buoyant, as a result of keen buying for ex port, and anything to hand is disposed oi at once. As a matter of fact much less than usual is now coming mto the. opei market. In the first place the digger: who left the field during the early part o the war have not returned, and the small quantity produced is eagerly taken up t>3 buyers. A new custom m the trade ha; developed lately, many of the Aucklant firms having their representatives m w various gum settlements, buying gum on tb spot at prices that have gradually est&b lished an entirely new range of values, lot market has been forced up to record prices and buyers for export, chiefly to London are keenly competing with each other foi supplies. _______ THE LONDON MARKETS. BUTTER, HEMP AND HONEY. [BY TELEGRAPH. — ASSOCIATION.] WELLINGTON, Tuesday. The High Commissioner's cablegram fron London, under date April 17, states:— Butter.—No change in price from supplie; under control of the Government. hole sale, £15 3s 4d cwt; retail 3b lb. The ratioi has been increased to li ounces per week The average price of English butter is 4a a< per lb wholesale, and 4s 3d per lb retail Irish imports are small, buyers holding bad on account of the high prices asked. A much as 4s per lb wholesale is asked,, era little business has been done at this price. Hemp.—The Manila market is steady, anc fair business is being done. "J I ** January-March shipment is quoted at ±6. 10s- March-May and April-June shipment sold at £68. For New Zealand, the marie is inactive but steady. Sellers' Present quo totiona are: High points, on spot. £63. fai £59; February-April shipments, £59 and £5 respectively. market is very dull. At ... Honey.—The market is very dull. At thi week's public sale, 636 packages were offered including 50 of New Zealand, and all wer withdrawn. The brokers' idea of the valu of New Zealand here is 80s to 85s. PROPERTY SALES. Samuel Vaile and Sons, Ltd., will hold a auction sale at their rooms, 83, Queen Stre« at 2 pjn. to-day, when a farm of 765 acre at Kinohaku, Kawhia, will be offered, fc sale- also, for removal, a building m King Drive, and a house at No. 41, St. Stephen Avenue, Parnell. Annandale dairy farms, Mornnsville, ai to be offered for sale by public auction : Messrs. *T. Mandeno Taction's rooms, Cu toms Street East, at 11 o'clock this mon ing. The area is subdivided into 14 fane ranging from 51 to 144 teres swamp an arable land. There is a homestead of - rooms, cottage and outbuildings. Terms a: offered. CHRISTCHUBCH PRODUCE MARKEI [BY TELEGRAPH. —PRESS ASSOCIATION.] CHRISTCHTTBCH, Tuesday. Transactions in chaff are very restricts on account of the lack of vessels. At tl present time there is a keen demand f< chaff in the North Island. At the rulix rates in Canterbury there is a good roargi for North Island business, but the mark hero is inactive simply because the me chants cannot secure shipment. Oats a firm at 5s to 5s Id at country stations, ax a good deal of business is being done i the former figure. Algerians are inquire for to some extent. There has been i easing of the clover market. Consignmen are on sale of 60 tons of Italian cowgra at 2355. This naturally reduced the pri< of local red clover, which is now nominal at Is 8d to Is lid. However, 2s Id w: paid since the imported seed was plac< for particularly good heavy seed. The has been a sympathetic easing in the pri: of white clover, but as supplies are scarthe imported seed will 'to a large exte: meet requirements rather than cause slump in white clover. Partridge ai Prussian blue peas are coming forwar White ivory are not offering to any e tent. Prussian blues are nominally wor lis to 12s. A good deal of business partridge is being done at Bs. The pota market is firmer than last week. Growe show little disposition to do business . under £4 10s per ton, the reputed lan yields and probable over-supply notwitl standing. Business has been done at £4 L during the week.