COMMERCIAL.

New Zealand Herald, Volume LIX, Issue 18116, 14 June 1922, Page 5

COMMERCIAL.

WHOLESALE AND RETAIL. i THE PRODUCE MARKETS. POTATOES DECIDEDLY FIRMER. Wholesale houses report a fair demand in general lines, but'no very heavy orders are expected till next week, when booking will commence for July account. The great improvement in tho butter market is naturally making business much better in the" dairy districts, and there is now every indication ot a further recovery in the market. If this takes place during the next month or two, it will still be in time to make a considerable difference to the dairy returnß, seeing that so much more than usual was produced during the late autumn on account of the phenomenal growth of grass this year. Hardware.—Merchants report a good tone "in business in spite of the winter season. There is a good general demand all round, and buyers do not seem afraid to take fair quantities, as both English and American reports are in the direction of a recovery in prices—or, at any rate, a distinct impression ■ that the fall has stopped. Fencing wire usually gives a good indication of the market, and wbile American manufacturers advise that the market has touched bottom, British manufacturers advise a definite advance. The loss of the Wiltshire is leaving local houses short of English wire, but further shipments are on the way. Building material is moving off well. Most prices more stabilised, and a bettor demand is resulting. Drapery and Groceries. , Drapery.—Very attractive good* are offering, and good sales are reported- Prices are apparently in favour of buyers, a* most markets have a firming tendency. The recovery in cotton will no doubt further stimulate trade. Groceries—Very few changes are noted. Bacon fell a half-penny on Monday, manufacturers reducing sides and hams by that amount. The low price of bacon this winter ie no doubt responsible for the good demand for eggs. Cream of tartar hiv» recovered from tho recent fall, and is now quoted ai a distinct advance to arrive- Cream oi tartar, substitute is lower. Bicarbonate o' soda is in rather short supply owinsr to the non-arrival of consignments on the Wiltshire, which were sold to arrive. Dried fruits are nellinK rather better, beini; influenced bv the higher* prices of so many varieties to arrive. Potatoes.—Market is decidedly firmer, and merchants are quoting 7s to 7s 6d ex etore this week. A. welcome shipment arrived by the Opihi. but the quantities now comin* are much leas than formerly. None are being sent on consignment, but there are still some old lots unsold here. An advance of about 30a per ton haa taken _ place in the South, and growers seem inclined to leave their potatoes in the pits unlese they can get more payable prices than have ruled lately. The quality now being supplied is very satisfactory. Seed Potatoes.—A few inauiries are coming in foij the eariier eorts—Early Rose, Early Puritan, and Up-to-date. Onion*.—The quality is now very irregular, and it is only safe to bnv in small quantities, as most samples quickly show signs of sprouting. Re-picked are selling at 12a to 12s 6d ex store. As soon as Southorn supplies are exhausted, which will not be very long, it is intended to import from Australia, although tho cost will be higher than usual. It is aliso likely thut greater quantities than usual will have to be imported from America this year. Position Regarding Cereals. Oats.—The reduced consumption this year, owing to the combined influence of an abundance of crass and the extension of motor traffic, is giving a weak tone.to oats, especially as nuch a large proportion of the crop is in rather poor condition. Merchants are quoting 4s 6d to 4s 7d ex store for best feed, and it looks aa if any permanent recovery in the markot can only take place if an export trade opens up. either to Australia or to the . United Kingdom. Chaff Best Blenheim is eellmg at 9s ex store and Rangitikei at 8s- Very little is now arriving from Hawke'B Bay, and local farmers are apparentlv keeping back their stock until the demand improvae. Wheat.—Fowl wheat is selling well at 6e 3d to 6s 6d ex etore. Supplies are very plentiful, and the market «howj» an easier tendency in consequence. It will probably be impossible to %ell within the Dominion the whole harvest, so that any recovery in the world's market will be welcomed by growers. .. „ , ~ PoUard.—Supplies are a little more plentiful this week. i - Maize.—Heavier supplies nave eaeed the price a little, and latest consignments have been s"ld at 4s lOd to 4s lid on the wharf in wholesale Knee. So far all the arrivals have been old grain, but it is estimated that there will not be much more to come up and that new maize will be arriving next month. Demand has improved since the eharp turn I in tn» wealth AT.

in the weatner. Fertilisers. —Mast kinds are selling well. and basic slw: ie booking to arrive. 1 Funcus The market is decidedly weaker on account of a fallins off in the demand from Canton, and supplies lately have been rather too' plentiful to be readily absorbed. Best price obtainable now is lOd. and it is expected that even this will be shaded before F'ax.—Most of the mills are closed for the winter, so that very little is coming in. Good fair is nominally worth about £24. Verv little tow is required for export now, and the local demand cannot absorb much. BRADFORD WOOL MARKET. Australian and N.Z. Association. (Reed. 7.5 p.m.) LONDON, June 12. The Bradford wool market is quiet and is awaitine the opening of the London sales. J WHEAT CARGO MARKET. Australian and N.Z. Cable Association,, (Reed. 6.5 p.m.). LONDON, June 12. The wheat cargo market is steady owing to lighter shipments, but in consequence oi the collapse of Continental' exchanges the demand is very poor- , THE APPLE MARKET. ' Australian and N.Z. Cable Association. (Reed. 6.5 p.m.) LONDON, June 12. The apple market ie firm. The Ballarat'a shipment arrived in excellent conditionSound fruit from all the Australian States off several boats are making 12s to 14e, and t some Sturmers 15s 6d. The Port Bowen's New Zealand apples are making 12s to 13s. ' The Berwickshire's Taemanians at Manchester aro making 9s to 12s. » .FOREIGN EXCHANGES. , Australian and N.Z. Cable Association. ! (Reed. 7.5 p.m.) LONDON, June 12. The following rates on foreign exchanges \ are,current to-day, as compared with the j cabled quotations on June 8, and par:— r June 12- June 8. Par. New York ... 4dol 49J0 4.501 4.866 ' Montreal . . . 4dol 54c 4.54 4.866 S Pari* .. .'. 50fx 37c 49 40 25.255 9 Berlin .. .. 1447 m 1270 20.43 9 Romo . . .. 88! ire 35c 86.38 25.255 * Stockholm ». 17kr260r0 17.25 18.159 Christiania .. 25kr 57ore 25.50 18.159 - Copenhagen . 20kr 46ore 20.33 18.159 7 Calcutta . .. Is 3|d Is 3Jd 2s i Honskong .. 2s 6} d 2a 7d -» •« J Yokohama .. 2s ljd 2a Ud 2s Old e d r THE PRICE OF COPRA. In the London market report published on Monday copra wan erroneously quoted at £25 12s 6d. the correct market figure being £23 12s 6d. \, CANTERBURY MARKETS, '* [BX TELEGRAPH. —PRESS ASSOCIATION.] "> x CHRISTCHURCH. Tuesday. Cocksfoot has firmed during the past few )f days, and is now worth 51d to 6ld per lb. to .. farmers. Ryegrass also has taken a move upwards, the improvement daring the past d 10 days being equal to 2d to 3d per bushel. v Both Perennial and Italian are now worth to farmers from 3s 6d to 3s Bd. with extra heavy seed a shade more. Very few potatoes are offering. Farmers are d "sitting tight" and asking £4 on trunks. ,n This is a sbade more than the merchants A are prepared to offer, but they will quote a £3 10s to £3 15s. Business has, slackened l- as a consequence. Fowl feed is being offered j freely in the South to North Island at 4a a to 4s 3d f.o.b.