COMMERCIAL.

New Zealand Herald, Volume LIX, Issue 18170, 16 August 1922, Page 7

COMMERCIAL.

WHOLESALE AND RETAIL,

TRADE FAIRLY ACTIVE.

THE PRODUCE MARKETS.

Wholesale business is this week chiefly in sorting-up lines. No large shipmentsare to hand, but American goods that arrived last week are still being distributed in & fairly active market. Export trade is again of. importance this week. An exceptionally large shipment of butter for this time of the year ia to bo sent away, while the loading of the Island steamer will keep several export houses and packing firms busy. Dairy Produce.—The new season has opened up very well as regards production, and prices are again fairly remunerative. Farmers were beginning to call out for rain, as the pastures were getting very dry after a fine spell o£ over two months, so that tho ram on Sunday night was particularly welcome, especially a.) it was not accompanied by a cold wind. A few warm BUowers will quickly transform grass, and the dairy output will soot be on a high level again. The event of the week will be the payment of the dairy bonus, whioh will be far more substantial than usual, on account of the cautious payments thtit had to be made earlier In the season. Cheese is selling well at the lower rates established by the slight fall in London. Bacon is offering very heavily in some quarters, and quotations are irregular. Eggs are in good supply, and are selling at Is Cd wholesale, the same as last week. , Groceries.—A fair business is passing, but it is more noticeable than usual that buyers are_ careful, and purchases appear to be limited to necessities. Local packing houses are waiting for the fall m sugar. when_ revised lists are expected. This week a slight fall has taken place in local bottlings of salad oil and olive oil. The sharp fall in the opening > prices for Californian new season's raisins is apparently due to competition with the Smyrna fruit, both districts being eager to get the trade. When the last mail left San Francisco the president of the Growers' Association had no idea of a fall, and in his review of the situation he pointed oat that at the end of June the stock of raisins in California amounted to only 43.000 toss, compared with 65.000 tons a year ago. This would easily be reduced to about half the, quantify by the time the new fruit was available. Other fruits showed a similar reduction, in the carry-over, bo that there is evidently some exterior cause for the collapse of the market, unless the coal strike is responsible for it. by holding up the distribution.

* Build; ng Ironmongery. Hardware.—Building ironmongery is selling: well. Prices of heavy hardware are a shade firmer on account of the: American strike, as it is bound to curtail export. Fencing wire is selling well, but at the moment English barbed ia practically unobtainable. A shipment by the Whakatane is booking well, and a good deal will be distributed direct from the wharf this week. Potatoes.—Heavy sales are again reported this week with no change in prices. Local stocks are good, and ample supplies are on the way from Canterbury. The Inland steamer is taking a good many this week. Most samples are very good, but a few signs of frost. Seed Potatoes.—Demand is steadily improving, and the slipht break in the weather will no doubt stimulate activity, as the soil is now perfect for planting. So far this Sinter the Bales are hardlv up to normal. It is understood that the Pukekohe growers have sold all their own seed, but a # good many farmers reckon that the crop is not very profitable. Onions.—Australian are rather soarce at 25s to 30s. Not many were ordered for shipment by tho Manuka, as the price has advanced in Australia, and onions are not keeping very well now. Most importations will now come from tho Northern Hemisphere. Sew season's Japanese are too dear to import, but American will be here next month, and they tire already booking well to arrive at 27s 6d. Oats.—Market is down about a penny li\ the South. Locally the inquiry is very dull, only small lines moving off.

Better Demand For Chaff. Chaff.—Demand is better, an improvement being noted in the country trade. Farmers are beginning to work more teams, now that the spring is coming on. Tho principal sale is in Blenheim chaff, of which another shipment is being brought direct to Auckland this week. Local chaff is negleoted. Bran.—A good deal has been shipped to Australia, and a scarcity is expected during tho next few weeks. Pollard.—ln plentiful supply* but the demand is rather quiet. Maize.—Larger quantities of new maize arriving from the Bay of Plenty have brought down the price & httle. and eon* Bignments are now realising only 4s 7d pn the wharf in wholesale lines. Old mawe from store has declined in sympathy. ; Fertilisers.—A greatly improved demand is reported. Basic slag is scarce, and very heavy bookings are taking place to arrive by the Port Napier. Most descriptions are easier in price this season, and farmers are using it more liberally, to make tip for the seasons when the quantities, were cut down. • Grass Seed.—A fair, incmiry has set in. Prices generally are higher since' -the autumn. Other seeds, are in keen demand, but the inquiry for swedes has not yet sot in.

'"PRICE OF METALS. Australian and N.Z. Cable Association. (Becd. 8-5 p.m.) LONDON, Aug. 14. Copper.—On spot. £64 3a 9d; forward, £64 6s 3d. Lead.—On epot, £S4 10a; forward, £23 15i. Spelter.—On epot. £31 2a 6d; forward, £30 Be. Tin.—On epot. £158 16e 3d; forward, £158 18s 9d. Silver.—2s IOJd per oz. standard.

BRADFORD WOOL MARKET.

A. and N.Z.

LONDON. Aug-. 14.

The Bradford wool market is very firm, but business is quiet owing to the holidays.

MOUNT GAMBIER OIL.

The manager's report in regard to the Mount Gambior oil bore. South Australia, for' the fortnight ended July 27, states that the bore is to date 360 ft.. and casing is temporarily set to 348 ft. Although less progress has been made for the past fortnight it is not unsatisfactory under the very difficult conditions the drillers have had to overcome.

DAIRY PRODUCE IN LONDON. Joseph Nathan and Co.. Ltd.. Auckland, yesterday received a cablegram; from their London office relative to the dairy proau.ee market, as follows:— , Butter stronger, with brighter tone. Quote, 195s to 106s; unsalted, 208s. Very little unsalted available. _ ... oi Cheese also more active. Quotation, 84a to 86s, white; 80s to 82s, coloured.

FOREIGN EXCHANGE RATES. The Bank of New South Wales has received advice quoting the buying rates, approximately, of foreign exchange for oa demand billo on London. The advice, which is cabled to Australia., thenoe transmitted to New Zealand by mail, is as follows:— Aug. 1. Par, Brussels-Francs to £* 57.35 25.225 Madrid-Pesetas to £ 28.65 25.225 Switzerland—Francs to £ 23.35 25.225 Helsingfors-F.M. to J 210.00 25.225 Greece-Drachmae to £ 102.00 25.225 Amsterdam—Florin to £ l - 25,225 Batavia—GuiWers to £ 11.72*' 12.107 Aug. 2. Prague-Krone to /; 183.00 24.03 Lisbon—Pence to Escudo* 41-16 d 53id July 31. Singapore lil^f Manila, P.l.—Ster.to peso 2s2Jd Aug. 2. Shanghai—Ster. to Tael 3s s*d Chefoo <Ghina)--S. to ,DL 2s sjd •Telegraphic transfer.