COMMERCIAL.

New Zealand Herald, Volume LVII, Issue 17596, 8 October 1920, Page 3

COMMERCIAL.

, WHOLESALE AND RETAIL. GENERAL BUSINESS QUIET. PRODUCE MARKETS ACTIVE. General business is a little Quieter this week, except in those lines that importers have just landed, in many oases to a bare market. It is moat noticeable that British manufactures are steadily arriving in increasing quantities, but invoices show signs of the available supplies being rationed to meet tile universal call for British goods from all parts of the world. Casts show considerable fluctuations, but although, some are lewer they are disappointing on the whole. This week invoices for some manufactures arrived at a higher price than ever. It is difficult to arrive at the position in Britain, as advices this week indicate that what looked like good business for a year or two ahead has been changed by a wholesale cancellation of orders, chiefly from the East. Manufacturers consequently do not know where they stand. With Order# cancelled and heavy stocks ju£l ready for shipment, a market baa to be fount, somewhere, and this leads to price-cutting, in spite of continued high cost of material and uncertainty in regard to labour. Buyers trom Australia and Now Zealand, who hate lately arrived in England, advise that merchants and manufacturers are giving tnem far mare attention tnau they did a year ago. and this points to the .British manufacturer having got into his stride again, bo mo made no attempt to rush, on their new goods the moment the war was over, but they took a long view of tlie situation, renewed their machinery and plant, extended their works, and made all their pians lot "8k maximum output in 1921 and 192:2, and it is this huge production that 13 calculated to restore Groat Britain to the proud position in tne world's traao that was willingly abandoned during five strenuous years ot dislocation. imports continue on a heavy scale, but it is remarkable how many lines are still m short supply. Stocks will still stand a great .deal of sorting up, and every steamer seems to bring something that is wanted. Overseas mails are still unsatisfactory, the most noticeable being the late arrival of shipping documents relating. to goods that often arrive via the Panama Canal before the papers are here. In England there are loud complaints about the eame thing, which is apparently general all oter the world. produce.—J.llo markets are active, with few changes except those brought about by the advance in the season. ■ Butter is every week getting more plentiful, as a result of a splendid growth of grass. The sa&son was very late, but there appears to have teen more growth during .he past fortnight than during the previous four months. Butter is now being sold at 28 8d wholesale and 2s lOd retail. > Potatoes.Market is a little firmer as a result of lower stocks, but the anticipated export to Australia has apparently made no impression on the Southern market yet. Small supplies are, available here at 74, ex store, and less than usual are in sight. Seed Potatoes.Demand is disappointing, and it is now evident that the local production will show no increase this year. Onions.Three shipments have arrived faring the week. Southern and Australian, which are both in rather indifferent condition, selling at 35s to 37s 6d per cwt., and American, which are very fine, realising 40b per crate. —Market is a shade firmer during the last day or two.' but demand is still very quiet at 6s 4d to 6« 8d ex etore in small lots. Wheat.—lt is anticipated that no more fowl wheat, will be distributed till the new harvest is in, and this is throwing the demand on other grains. Maize,-In specially keen demand, on the basis of 9a 9d on the whirl in wholesale lines. A little Australian maize arrived during the week, and this is realising a few pence more. The high price is expected to attract regular supplies from Fiji. Chaff.—The advance has been maintained, and a good demand continues at 14s 6d to 15s ex store during the week. Large consumers have had the advantage of the lower pried ex ship, a useful cargo of Blenheim chaff having been distributed at Onehunga. Seeds.Oats are hot over, but the demand is coming in for turnips, and large quantities are booked for delivers during the next few weeks. Potatoes are about over, but other garden seeds are selling well. Fertilisers.—The expected shortage has been prevented by the great improvement in -..the shipping service with Australia, .which lS now better than it has been since the begins*'® of ' the war: consequently importers L.if been able to secure large quantities of boiTsdust and superphosphates. Eastern Goo'^-—The direct steamer will be appreciated when H-tHiyes, as. stocks in many lines are right down~"'~Pric?s are in favour of btivers at last, a great the fall in the rupee. A private cable<rr?«n received yesterday put it a* Is lOd, end tfcig is muring buyers to operate, much more freely than they did a few months ago. THE PRICE OF GOLD. Australian and N.Z. Cable Association. (Reed. 9.15 p.m.) LONDON, Oct. 6. The price of gold on the London market is £5 17s Id. TALLOW SALES. A, and N.Z. LONDON, Oct. 6. At to-day's sales of titlcf* 1847 casks were offered and 1510 sold. There was a strong demand for edible at 2s to 5s advance, and for others at par to Is advance. Mutton tallow, fine 795, medium 71«; beef, fine 87s 6d, medium 71s. —„— ■ — ■■ ■■ ! DECLINE IN WOOL VALUES. A DUNEDIN 'OPINION. [BY •rBLEOEAFH.OWN CORRESPONDENT.] DUNEDIN. Thursday. The slump in wool prices has not come as a surprise to local experts, one of whom remarked this morning that there was absolutely no justification for the high figures that had been ruling for a short time after the armistice. There was certainly a shortage in Britain, consequent upon shipping being largely engaged with the transport oi troops from the seats of war, but later the supply had been' plentiful, so plentiful thai huge stocks had accumulated in the United States, South America, £nd England. Now that the Australians ' showed a tendency toward selling at -reduced prices, American holders were much concerned, for if the fall continued they would have to meet the market. Slump or no slump, however, any further accumulation of . stocks was only going to continue the carrying over for a further term of years, with increased difficulties to follow. It would take, in th« ordinary course of events, two or three years at least* lor the market to get back to a noimal state, when the sur>r>'y would just cover the demand. The difficulties ir the way of the Australian or other holders selling off their accumulated stocks, however, were obvious, for it was not an easy mattei to enter offhand into transactions involving some £ 20,000,000.

HIDES, SKINS A~ND TALLOW. The New Zealand Loan and Mercantile Agency Company. Limited, report:—We subitied and sold average catalogues of hides skins, and tallow on Tuesday as follows: — Hides. —Ox, extra stout, 16} d to lfkl. stout 15d to 15|d, medium 14d to 115 d. light 13d to 13* d; cow, best lines 12d to 12: d, good lid to 11 Id, interior 9d to lOid; kips, IOJd to 13d; calfskins, best lines to 17d. good 14d to 15d, inferior lOd to 13d. cut and damaged 3d to 7£d; damaged hides, Id to 6id. Tallow.Best mixftd in shipment casks, 503; good in small packages, 38s to 425; medium, 32s to 355; rough fat, li per lb. Bones. —£9. Covrtails.—ls Gd Per dozen. Horsehair.—ls 2d to 2s 2d per lb. Dalgety and Company. Limited, Auckland, ronort having held their weekly sale of hides, skins, and tallow on Tuesday as under: — Hides.Butchers' in good demand. Secondclass and damaged still low. Best butchers' ox. stout to 16d. medium _13id to 14, d. light lOd to 12* d, second quality 7d to 9d; cow, be«t to T2sd, seconds fid; yearling 9d to 13d; calfskins, best to 17d. light 9d to 10d; cut. damaged, and dirty hide*. 2d to 9J. according to quality; horse hides, large to 18s. sm-».ll 4s to 10s. Horsehair. —Tail, long to 2s 2d. short Is 6d to Is 9d; mixed. Is 3d to Is 4d; mane, lOd. Tallow.— in shipment casks, to £5C per ton; broken packages, 28s to 40s pel • cwt. Bones. —Dry. £9 a ton. PROPERTY SALES. Alfred Buckland and Sons, Ltd.. wiil offer for sale by public auction at the Haymarket land sale rooms, Albert Street, to-day at 2.30 p.m.. the Grange Estate. Paturaahoe. containing 370 acres freehold. The property will be sold in four lots, in areas ranging from 59 to 137 acres. - , Mr. C. F. Bennett will offer _for sale by public auction at his rooms. New Zealand Insurance Buildings, Queen Street, at noon to-day, under conduct of the registrar of the Supreme Court, farm praoerty of 5G acres, known as Wiri Park, on Great South Road, with good homestead ; bv order of the Public Trustee in the "state of Elizabeth Leaf (deceased >. freehold section at corner of Alpha nnd OMlingbam Reads. p arnell: also, a ff«hold section in Queen Street. Onehunga. The "a!? of Waitaker? Downs Estate will ♦ nlacn s>< the auction rooms cf Samuel f-.iy «'i So"s. Lid., at 2 p.m.. to-dav. This «-=t-t». which is situated adiacent to ""i Wnitaker« railway station, comprise W1 acre*, and has be»n subdivided into 18 farms, ranging from 41 to 166 acres.