COMMERCIAL.

New Zealand Herald, Volume LVIII, Issue 17942, 18 November 1921, Page 3

COMMERCIAL.

WHOLESALE AND RETAIL.

CHRISTMAS PURCHASES.

GOOD TRADE EXPECTED.

A good week has been experienced by the wholesale houses, while the fine weather has proved of benefit to retailers. The drapers aro making excellent displays of new season's goods, whilo in all departments there are signs that people are already commencing their Christmas purchases. There will no doubt bo tho usual rush later on, but prices appear to bo in favour of those who buy early, especially in regard to those lines that are gradually responding to the higher cost that the new customs duties will necessitate on forward shipments.

Heavy arrivals have brought in quite a rush of business in some lines that were short before, and grocery houses aro keen buyers of Christmas goods that arrive. The Waiotapu brought only a small lot of Californian dried fruits, and these were mostly distributed at once. Further supplies will probably be on the Tahiti, duo at Wellington on Saturday, but the bulk of the Auckland consignments are expected by tho direct steamer from San Francisco to this port, due during tho first week in December. Mediterranean currants and sultanas will probably arrive about tho same time, as it is understood that have already arrived in Sydney, but figs and muscatels will probably be lato, arriving very little before Christmas. New season's dates will most not arrive till well into the NewYear, but old season's are expected to be in moderate supply. Prices all round aro very favourable this year, and a good trade is expected.

Further Rise in Price ol Tea. Tea.—Advices from Colombo still show an extraordinary activity in that market. Buying for Australia and New Zealand has been of only moderate dimensions, on account of the heavy importations last ycar> and blonders havo now allowed their stocks to run down coneiderably. The heavy buying appears to be for the United Kingdom and the- States, and only this week a further rise has taken place in Ceylon, equal to about a penny. This is only a small charge, but as it comes on the top of a steadily advancing market it is rathor disconcerting to importers. Glycerine.—The market has quickly responded to the lower cost caused by the withdrawal of tho old customs duty. Local stocks are not very heavy. Sugar—Further reductions are gradually being advised in all those manufactures that depend on sugar Loaf sugar is in very short supply. Dairy Produce.—The outlook for the producer is not at .all cheerful for the current season, except in regard to tho enormous output that must result from favourable weather conditions Prices aro very weak. Eggs are in keen demand for preserving, and quotation is Is 7d wholesale and Is 9d retail. Potatoes and Onions.

Potatoes.—Old season's are now almost, over, except for the use- of bakers, but it i 3 not often that the season closes with such a clean-up as it has this year, for stocks are quite exhausted by the demand ot tho past fortnight. The auctions are generally utilised for disposing of tho last of the season, but this year merchants had carefully regulated their importations from Canterbury, bo that no surplus has been left to lose money on. New Potatoes.—Supplies fell off a little, and that has allowed the price to recover Bomowhat, good samples realising l]d per lb Growers appear more satisfied that prices will hold fairly well, and are not so much inclined to rush, on their digging, especially as the recovery in tho weather has lessened the risk of blight. Consumers ore not in a good position this year, as the crop will be less than usual. Onions.—Prices are unchanged at 12s 6d per cwt. for Australian and 40a per case for American, with the demand only moderate. Tho prowin,? crop is now looking wen, the rain beins ret sufficient to give it a good start, and the present weather conditions are favourable to a steady growth and a good i crop.

Oats, Chaff, and Wheat. Oats.—Market maintains the _ appearance of firmness, but the demand is light, and appears likely to fall off still more- With such a heavy growth of grass, it is only natural that all other fodders are quiet, and very small quantities of oata are moving off at -Is 9d ex store, with ample stocks available for all lively requirements. Chaff—Demand has fallen off, and this Irs given a weaker tone to the market. although no quotable change has come in. Marltorouih chaff is in ample supply at 9s 3d ex store, but local is hard to sell while crass iB so abundant. / Oatmeal.—Stocks are rather low, and some brands of oatmeal and other breakfast foods aro almost unobtainable, but the demand keeps light, so that there is little difficulty in sat : sfying urgent inquiries with substitute makes. Wheat.—Fowl wheat is in heavy demana at 9s, the warmer weather causing a tendency to neglect maize. Fair slocks are held here, and it is known that the permits that have been issued have not yet been exhausted but opinions differ as to whether these will provide sufficient to cope with the demand until next harvest. Flour.—Sa'es are only moderate, Pollard. —Demand is k*en, and stocks often Rpnear to bo short, although undoubtedly better than last year. The quality varies rather much, and some samples are very poor. Brn.—A fa'rly good demand keeps up, but sufolies are ample at present. Maize.-»Mnrket is depressed by a quieter demand, and prices are irregular.

NO DEMAND FOR TALLOW. SALE NOT HELD IN LONDON. A. and N.Z. LONDON, Nov. 16. No tallow sales were held to-day owing to tho recent abaenco of demand.

AUSTRALIAN WHEAT FOR INDIA. Australian and N-Z. Cable Association, (Reed. 5.5 p.m.) LONDON, Nov. 16. Five thousand tons of wheat to' be sent by an Australian steamer in January to India direct, have been sold at 47a 6d.

AUSTRALLVN PRODUCE PRICES. Australian and N.Z. Cable Association. (Kecd. 12.5 a.m.) SYDNEY. Nov. 17. Oats.—Algoriau, feed, 3s to 3s 4d; milling, .Is Gd; white feed, 3s 7d to 3s Bd. Maize: Yellow, 4s 9d to ss; white, ss. Potatoes: Tusmanian. £4 10s to £G 10s. Onions: Old, £1 10s to £3; new, £4 10s to £6 10s. ADELAIDE. Nov. 17 Oats.—Nominally, 2s 6d.

THE QUEENSLAND LOAfl. Interviewed in Sydney recently, the Premier of Queensland, Mr. E- G. Theodore, d.scusscd tuo Government's loan in New York. "We are making a very favourable conversion," ho aaid. " The net proceeds will approximate 13,000,000. Queensland in Now York is alroady quoted at * premium, though it was issued at 1 per cent below par. New York is proving a very grod market for us, and will not be ignored when the State again wants to borrow money- The Queensland Government ccnB.dera itsolf the pioneer of a new market for Australia, and that tho other States would be foolish if they did not take advantage of it. Of course, I should not recommend any Stato to go to New York if it could borrow in London on as favourable terms. W.th the Queensland Government, however, tho London financiers had operated a boycott, and on that account we were precluded from entering the market.' 1

AUSTRALIAN WHEAT. Forward sales of tho new season's Victorian wheat in tho open markot are taxing place from day to day, says .the Melbourne age of November 9. Business has been transacted on the basis of ts 8)d net, Williamstovn. For wheat to, bo converted into flour for local consumption the price fixed by tho authorities is !)s a bushel. The Wheat Commission's quotation for wheat to be converted into flour for export for any destination has been further reduced by, 3d to 5s a bushel, November-December shipment The Mill Owners' Association quotation for flour for bakers' requirements is i'2l 10s per 20001b net delivered in Melbourne and suburbs.