COMMERCIAL.

New Zealand Herald, Volume LVIII, Issue 17964, 14 December 1921, Page 7

COMMERCIAL.

WHOLESALE AND RETAIL. BUSY CHRISTMAS TRADE. THE PRODUCE MARKET. The u§«al procrastination is responsible for a rush of business this week, and the wholesale houses are working at full pressure. Fortunately ample preparation for the busy time was made early enough to enable IJje extra business to be handled, and moet stocks are in a fairly good condition, «o that they can meet this demand. British, Amo'rican, and Australian shipment* have been arriving lately, and brought everything that is of special inter est, or is likely to, be required. Heavy orders are in this week, and these are being pushed off, in accordance with the arrangements for early delivery this month on January account, Betailers complain that the public are again putting off their buying, although every argument is in favour of purchasing early.. Th» web and cold weather that came in thjs week is not a very cheerful reminder of Christmas, and it will mean a great rush at the end to maktf the inevitable Jjst of purchases. Dried and Canned Fruits. Dried FruiU.-A fefr Spanish and Amerioan uiuscateis have arrived, and these have been eoapDed up in a keen market, boma Quite snort of requirements. Cither Btioit line* are.prunes, figs, and dates, while seedess raisins appear likely to be exhausted oy next week. An a matter oi iaot, importers made such bad calculations last yew, wita resultant losses from ovor-iuiwrtation, that this year they have apparently been ovorcautious, and a)l varieties seem to be ratner scarce. Canned Fraits.-Theee are in small compass, as a result of curtailed importation, ana once has hardened a little in accordance with quotations on the other side. , .tobacco.—Plug tobacoo is very scarce, also cigarette tobacco, nearly all the best-known brands beipg unobtainable in the wholesale. Urt plug is in fairly good supply in most Matches.—All kinds are arriving more reguisrly. both eafeties and wax vestas. Hardware.—Heavy Upea are -dull. Better eupplies of fencing wire are now arriving, and English is ottering at almost the same price ag American. Potatoea.—Supplies have been ample for all demands, and the market has ruled weak in consequence. Best quality have realised from lps to 13s, but the price varies considerably from day to day. This appears likely to continue until the condition is such »s to allow the potatoea to be stored with safety, but in the meantime each day's supply is usually moved off at the best price obtainable. The rain has not interfered with digging, and it is expected that a good deal will be sent in before the holiaaya, but there .is some uncertainty as to whether the crop la really a big one. The small shipment of Australian that arrived last week was readily placed. Onions.—Another lot of Australian has arrived, and as it was distributed at about 16s it has weakened the position of American. The latter are nominally worth 85s per case, but a few have been worked off at le6s money. Until the weather broke last week the new onions were ripening off well, and a fair quantity have sold at auotion at about 18s to 14«.

Oats and Hay. Oats.—The market keeps very weak. A poor demand encourages holders to work them on at the lowest possible margin, and good feed grade* are quoted at 4« 4d to 4b Bd es store. The eame feeling ia evident in we south, where hoidera are particularly anxious to reduce their stocks, in order to make room for wool. OatmeaL-On account of the weakness in oats, all distributors are keeping their stocks iT'-m °« c *? l °nally some brands are unnl 1 « *i Consumptive demand ia weak. Unaff.—A temporary scarcity caused the last-shipment from Blenheim to sell very and quite an active demand it reported at 8s 8d to 8b 6d rt* store. Local is neglected. Hay.—The. rain baa come at rather an inopportune time, as a good deal of hay ia lying on the ground, and a few more day* of ra a ynll rum it. Those who did their nay.ffl«k:ug *, fortnight ago, while the hot weather lasted, are particularly fortunate, «e most of tho grass was Quite ready for mowing, and the atibsequent rain ha« given it a perfect start again. Prices are irregular largely on account of the weather prospects. Aa much as £6 was recently paid [or a wholesale parcel, but new hay has boen quoted at all aorta of prices, down to £2 in the «tack. Fowl Wheat.-Very, scarce until tho Kaiapo\ arrives with the rest of the wheat for which permits hare already been granted. This w selling to arrive at 8s 8d to Bs. Bran and Pollard.—Both are in fairly good supply, wth a Bteady demand. MaKe.-Arri.valß from the Bay oi Plenty have been fa'rly heavy, growers beinj apparently anxious to get -rid of their maize before the holidays. On this occasion the policy is probably a wieo one. as there will probably be a record wheat harvest, in which case the consumption of maise will fall off next year. Recent consignments have eold at 4s 6d to 4s 8d on the wharf in wholesale lines, some of lnwor grade bem* offered at w 4d. . Australian storlts are exhausted, and it u not expected that any more will arrive.

THE LONDON HIGH. COMMISSIONER'S ADVICE. [bx theobaph.—own cobbespondent.] WELLINGTON, Tuesday, ,-JSIS oi A«rfwll«» has reMV «I the following cablegram., dated DoMeat.—Market continues to bo depressed and tone generally is weaker owing to very arge supplies of all descriptions. New Zeeland mutton, light-weight 6d to s!d, heavyweight, poor demand. i\A to 4Jd; New Zealand lamb, best Quality, light-weight in fair demand-at 7|d, heavy-weight 6}d to 7d; New Zealand beef, prime ox. hrade 6d. fores B|d; Argentine called beef, hinds.7Jd, fores 4Jd. but many sales have been wade at lower price. Cheese.—Market is quiet and prices weaker. Official Quotations <vie:—English, finest farmers 140s to 145s per cwt.; Canadian, white 104s to 108 a, coloured 104s to 106s; New Zealand, white 100s to 104s. coloured 98s to 100s; Australian, white 84s to 96b, coloured 86s to 925. market continues dull owing to the absence of demand. Nominal value " J " grado August to December ahiptnents £3710s per ton Now Zealand market is inactive and' unchanged at about last Quotations, viz., high point?, afloat £35 10a; fair, in dock and November-January nhip•ment, £83 per ton. There are sellers of high points November-January shipment at £35 per ton. No transactions reported. Eggs.—Best are scarce and in good demand. Large offerings of cheaper descriptions for which the, demand is only moderate and . prices occasionally weaker. Present quotations per long hundred are:—English, 465; Irish. \39s to 41s; Danish, 44s to 465; Argentine, 21s to 245; Styrian, .21s to 245; Russian, 21s to 245; South African, 28s to 25s i Moroccan, 17s to 20s; Chinese, 17s to 20s; Egyptian, 14s 6d to 16s; Rumanian, 21a to 24s •, American. Canadian, 23s to 25b; Australian, 29s to 30s. Wool.—Sales closed without material alteration. Home trade hat been chief support, but fair competition later from- France and Germany. Merinos have fluctuated and all closed about level with September closing values. Crossbreds also lower, but havo met with active demand, and good clearance has been made throughout. At the close they wore 10 per cent, to 15 percent, below October rates, medium sorts showing the most deoline, Average closing prices were:—6os to 64's (Merino), Is to to 6d; 58's (super half-bred), lid to Is 2d; 50J -(haft..bred), 9d to lids 48's (fine crossbreds) 7Jd to Bd; 44's to 46's (medium crossbreds), 6d to Mdj 36' a to 40's (coaree crossbreds), 6jd to 6Jd. Demand for hosiery continues good and accounts for good proportion; of wool bought for Home trade. With further improvement in sale of piece goode in the New Year. this would have a bcnoficial effect on wool values. Export trade would also benefit from the improvement in the German mark.

ELECTROLYTIC ZINC.

AUSTRALIAN INDUSTRY. The first annual report of, the Electrolytic Zinc Company of Australasia, Ltd., to w presented \to the annual meeting of shareholders, in Melbourne. on December 20, states that the- first half of tho company s plant was nut into operation on November 52, and it is anticipated that the full plant will he in operation well before the end ol next year. The company's works are at Riadon. 41 miles from Hobart, on, ft deep water front, on one of the beat harboure in Jne world, and tho company has a contract With the Tasmanian Government for 80,000 n.p. of electrical energy. It has aseuredsupplus of zinc concentrates from Broken Hill, and from mines in Tasmania, while ' the, contract made by Zinc Producers Association Proprietary, Limited, with the British Board of Trade, for the purchase by the latter of a quantity not exceeding 45,000 tons of spelter and, or, refined zinc per annum lor a period of years (with a substantial preraium for refined ssipb over the average of the «pot and forward quotations of the London Metal Exchange for G. 0.8. spojter, and w th a eatiefactory guaranteed minimum "price), together with Australian requirement* and markets in South Africa and East of Sue?, is sufficient to absorb the company's total output." . A report bv the general manager states that before the war, practically, the whole of the 450,000 tons of zino concentrates produced annually at Brpken Hill was treated iu Europe. The roasting was performed in hand-rabbled furnaces, the, sulphur m therefrom being utilised for the mjauueture

these conejnttates by. mechapiAlly opesated turuaces 'has Aero solved. Iba ensures, that/A.uatralia vfjll be to a griat' extent aelf-oontafried. in regard - to the supply of eulphur lot siltohUric acid rnanufacture, tho acid being, used mainly for the production of superphosphate and other fertilisers. Jtoasjung operationa at oreseht being oairried on m conjunction mainly 'with .exuiting ac]d plants oh the Mainland, under asreement with corapaniea owning and opanitine these acid plants,, are already reolecina imported-rulphur to the extent-of 7600 tons annually, and Me in procesii of rapid etpaneion. Before the end of next yew sulphur gam equivalent to the product., from 3C,0P0 tonn of eulphur per annum' will be available for acid making from raw material required at Rjsdon. With the company's plant in hill operation this enterprise will utilise ever 100.000 Uma annually of Australian ssino Concentrates, and make available in Australia annually sulphur gas equivalent to the' production from 80,000 tons of sulphur. It will produce 40,000 tons metaliio smo (99.95 per cent,). 2000 ton* to 8000 tons smo oxides.and probably at » later date up to 10,000 tons annually of leaded zino oxide, with, smaller Quhritities of other by-troducta. The subscribed capikl of the c6mp*»T is £3,200,000, of which {1.788,818 ,15s has been paid up—l,loo,ooo ordinary shares, « £\ fully-naid. end 1,100,000 preference shares of £1, on which 17s Cd has boon paid. FOREIGN EXCHANGES. Australian and N.Z. Cable Association. (Reed. 8.40 p.».) LONDON, Dec, 12. The following rates on foreign exchange* are current to-day, an compared with the cabled quotations on December 9 and par:— Deo. 12. Dec. 9. Par. New Tork .. 4dol 19Jo 4.09 4.866 Montreal ~ ~ 4dol 610 4.48 4,866 Paris ~ .. 61fr80o 63.85 25.255 Berlin .. ~ 690 m 785 20.48 Btoqkh.olm .. 17kr05or» 17.01 18.159 OhrißtianTft .. 28kr03pre 28.17 18.159 Copenhagen .. 21kr 85ow 21.60 18.168 Calcutta .. .. lsSld Is Sid 9s Hongkong .. Ss Wd 2a 8d — ( Yokohama . . Sa 3}d 2s 4id 2a Old THE BRADFORD MARKET. Australian and N.Z. Cable Association. (Reed. 6.40 p.m.) LONDON, Deo. 12. . Bradford quotations for Merino tops are Hardening, Croßsbreds are unchanged, ■■ " " i ' ■ I". ■ .' PROPERTY SALES. Samuel Vaile and Sons, Ltd., will offer for sale by auction at their rooms at 2 p.m. to-day, a bungalow of six rooms, Ellorton Road, Mount Eden, in the estate qf the late Mr. W. A. Aldred, an apartment house of 10 rooms, in Chapman Btreet, near the Ponsonby Reservoir, alto a large number of notions adjoining Waiatarua Park and fronting Ladies' Mile, Umere Crescent, Hastings Road, Oliver Street, etc Wenxl Scholium will offer for sale by auction at the Chamber of Commerce, Swaneon Street, to-day, at 1 p.m., brick residence and one acre at Otahuhu; a property at Epsom, containing five loose boxes and l*rge feedroom, bouse of 6 rooms, in St. Benedict s Street, Newton, and a section at Grey Lynrrtrjm terminus. Messrs. T. Mandeno Jackson will offer for sale at thefr rooms, Customs Street East, at o'olock this afternoon. « seaside sections in Beaohcote Estate, Milford. Takapuna, five of which have beach fronteges, tne others being near.