COMMERCIAL.

New Zealand Herald, Volume LVII, Issue 17648, 8 December 1920, Page 5

COMMERCIAL.

CHRISTMAS ACTIVITY.

THE PRODUCE MARKETS.

LOWER PRICES GENERAL.

The near approach of Christmas is causing the " wheels of commerce*' to revolve at a faster rate, and all departments are sharing in this activity. In the retail there is the usual delay in getting in supplies, and it looks as if householders are again going to crowd most of their buying into the last week or two, in spite of the recognised disadvantage in having to do this when every shop assistant is working at high pressure. The retailers themselves are taking no chances in regard to stocks, but are eagerly Setting in all that appears likely to be required for the month. As far as Auckland, is concerned, & good season seems assured. The city will .bo inunaatod with visitors, brought in by the usual attractions that Auckland can offer during the festive season, and crowned this year by that great international event, the Davis Cup. All this brings trade to the city. and. as the provincial districts are in a particularly nourishing condition this year, the spending power of the visitors will bo out "of the ordinary. Produce.—Values are nearly all on the lower scale that has come in obedience to the well-known law of supply and demand. Potatoes.Old are now in. very small compass. A tew were landed from the Shahristan. and these are being rcpieked and sold at 4s 6d per cwt.. chiefly for the us© of bakers. It is understood that measures are to be adopted in Canterbury to ''regulate'' supplies to the North. From the experience of last season, it would be more profitable to the producers to see that the great consuming centres of the North get far larger supplies, and then they will not be left with a big surplus on their hands at the_ end of the season. New Potatoes.Supplies are much heavier and the market is a little weaker. Growers are getting 10s to 12s, according to quality, and the best are selling in Auckland at ltd to lid wholesale. Oniona.American are now being casefully repicked, and the best are worth 40s per crate of about 1001b. All will probably bo required to last till the new season's are ready. Oats.Demand is venr light, good feed felling at 5s 3d ex store. Merchants are not holding heavy stocks. Oatmeal.—The lower quotations are not attracting much extra business. —Demand keeps up very well, considering the enormous growth of grass this year. Best old Southern is selling at 13s to 13s 6d ex store, but no new is quoted yet. Hay.— old season's is available, except a little from the South, but a splendid hay crop has been secured, most of it in the finest weather that could be wished for, and first-class hay should be in abundance this year. Pollard.Still scarce. . It is understood that very little milling is now going on throughout the Dominion, and stooks of flour will gradually run down until the new season's wheat is available. This will keep pollard scarce. , Maize.—Demand has fallen off considerably since the hot weather _ came in. and consumers are turning their attention to oats, which can be obtained at a cheaper rate than maize. Recent consignments have dragged on at about 7s 6d on the wharf m wholesale lines. { ... ' Fertilisers.—All •' descriptions are selling well. Large quantities have been required for turnips and Other fodder crops. Flax.—Market -is very dull, and millers are facing a very unfortunate position. Some are hardly operating at aIN Kauri Gum.—The falling off m the American demand is restricting trade, and buyers are not at all keen at present.

, .FOREIGN .EXCHANGES. Australian and N.Z. Cable Association.

(Reed. 11.30 p.m.) LONDON. Dec. 6. The following rates on foreign exchanges arc current to-day. compared with the cabled Quotations on December 2 and par: — Dec. 6. Dec. 2. Par. Paris . . SS£r. 15c. 57.48 , 25.255 Stockholm . . 17kr. 90cr© 18.03 18.159 Chrifctitmia.. 24kr. 7Eore 25.25 18.159 Calcutta .. Is s>,d . Is'6sd 2s Montreal ■.. 3dol. 98c. ~ ~-3-.98 4.866 New York ..,3d01.46ic; 3.49 4.866 Yokohama . . 2s 10|d 2s lOjd 2s o{4 LOAN AND MERCANTILE AGENCY. PAST YEAR'S OPERATIONS. The New Zealand Loan and Mercantile ■ Agency Company. Ltd., has received a cablegram from its London office intimating that the company will hold its annual meeting in London on December 16. • After carrying £25,000 to general reserve account, writing £10,000 off premises, appropriating £10,000 to the staff benevolent fund, applying £38.592 to writing'down investments to market values at June 30 last, and payment _ of interim dividend on preference and ordinary stock, 'directors'recommend a. final dividend on preference stock of 2i per cent., less English income tax at 4s 6d in ,the £, and on ordinary stock a. final dividend" of 2 per cent, and a bonus of -per cent., both free of English income 'tax.'v-This leaves £23.491 to be carried forward. > The reserve fund now stands at £600,000 .and dividend equalisation reserve account £100.000, making, total funds in reserve £723.491. -•' *• "* ! " CANTERBURY'; MARKETS. . [BY TELEGRAPH. —PRESS ASSOCIATION.] . IT - CHRISTCHURCH. Tuesday. The grain and produce market is stagnant, 'and as hardly any business at all lias passed this week it is not possible to quote actual prices. Oats are now down to 2a 4d to 2s 6d, and chaff has fallen in sympathy. - r-,sv "' • *. -..»' ~~~ ~ ~ • ■■!••■ ' .„-,. PROPERTY SALES. .. ¥ .., R An auction sale of Pakaranga land was held yesterday by Alfred Buckland and Sous; ■ Ltd. Seven lots in-* the - estate of the late Mr. W. Andrew were offered, ''three being sold. One:-section of seven acres, on which ; stands a, six-roomed house and other buildings, realised £200 an, acre. -Two other areas. without buildings, . sold at £140 and £100- an acre respectively. The remaining sections were not sold. The same firm, 'in conjunc- ! tion' with Mr. C. F. Bennett.- offered 66J acres \ of land belonging to Mr. H. M. Phillipson. but' no . sale was effected.* the reserve not : being reached. ,; ..„.,..,.,.., 1 i ... ■' ~. . Richard Arthur, Ltd., - report ; having sold at auction yesterday the following sections in the Hoskin'" Estate, Point Chevalier: — No. 44, £3 a. foot; No. 45, £3; No. 46, £3 Is; No. 47. £3 Is; No. 48, £3 Is; No. 49, £3 12s; No. 50, £3 Is; No. .61.. £3 Is; No. 52, £3 12s; No. 53, £3 12s; No. 51. £3 12s; No. 55, £3 12s; No. 67. £3 ss. Also, by ■ order of the Public Trustee in the estate oi Alfred Woodroffe, deceased, section at * the corner of. Newburn. Avenue and Wcodside Road, at £205, and section No. 8, with frontage to Alfred Street, "Northcote, at £75. Samuel , Vaile and J Sons, Ltd.;' will hold an auction -.sale .at-their rooms. 83. Queen Street, at 2 p.m. to-day, when tho following properties will be : submitted I tor sale: <M Bungalow, eight rooms and conveniences, No. 8, "Waitemata. Street. Ponscnby ; building sections, Jervois Road. Heme Bay, Seccombe's goad, Epsom, Mount Albert, and Dominion , Epad;-. two houses. No*. 2 and 2a, O'Neill Street, Ponsonby. Alfred Buekland and Sons, Ltd. will offer for sale by public auction at the Haymarket land sale rooms, on Friday; at 2.30 -p.m., the Ascot Homestead, Mangere, which has be»n subdivided into four farms, in areas ranging from 27. to 120 acres. The land is volcanic and drained swamp The firm will also offer the Glenburn. Estate, adjoining the Paerata railway station, in areas from 1 acre to 6 acres approximately.