COMMERCIAL.

New Zealand Herald, Volume LIX, Issue 18206, 27 September 1922, Page 7

COMMERCIAL.

WHOLESALE AND RETAIL. GOOD COUNTRY TRADE. SOUTHERN PRODUCE FIRM. Stocktaking at the end of the month is keeping eoine buyers from operating very heavily, but otherwise business is very much as usual. Merchants report very satisfactory bookirtgs for October account, w{u}e the spft-gdods warehousemen have had exceptionally heavy orders. Very heavy shipments havo recently been opened up, and favourable prices attracted good business in new lines, so that the retailers are now able to make a very fine display. City drapers are to the front with a particiAarly attractive assortment, and low prices are meeting with a good response. _ N Country trade is keeping up well in most departments, the most favourable influences being the opening of the dairy season under the most suitable climatio conditions that have ever been known. Coming after what was already the finest winter in modern times, the growth of grass has been really remarkable. Except for thp cold nights,. almost November weather has prevailed during this September, and the vield of milk has increased accordingly. An enormous output for the first half of the season is now assured, and it is expected that remunerative prices for it Will be realised in London. The prospects for the latter part of the season aro not so certain; in some quarters it is feared that the prices will come back a little, while the production will depend on the weather. Just at present the general wish is for more rain. The slight break of a fortnight ago was very welcome, and it gave a fresh start to grass, but by coming a week too soon it was a rather poor substitute for the, usual equinoxials. Farmers are delighted with the welcome break in the weather this week. It will promote a quiok growth of grass, as the pastures w*ere never in a better position to benefit from a good shower of rain, after the fine weather that has thoroughly wanned the soil. Eastern Goods and Dried Fruits. Eastern Goods.—The arrival of the Calcutta direct steamer has been of more interest than usual, this trio on account of practically everything aboard being urgently wasted. Bonedust is always a big line by this boat, and stocks were low on arrival. Sago and tapioca were also hare stocks here, but the prices are anything but attractive. Ssiaon rice is to hand, and will Stoll at &AI under the cost of Australian-dressed Japanese. but it is only a small line on this market in comparison with the latter- The' New Zealand trade demand* a Rood duality in rice. and during; tho war it was often seen that there is hardly any limit to the orice obtainable, provided the quality is rieht. Singanore nineaunles also arrive to a bare market. The prices are very reasonable, and heavy bookings have alreedy been made. Dried Fruits.—This line is still the centre of most attention on the part of grocers on account of the destruction of the stocks of Turkish sultanas in Symrna. As a flatter of fact, the cancellation of orders for Smyrna fruit ■was rather a fortunate let-off to local importers, as they were able to buy somewhat similar American fruit at le»s money, American quotations for thie claes of fruit are now witliarawn, stocks having been exhausted by the unprecedented demand from all parts of the world to replace Turkish orders cancelled. However, seeded raisins are still obtainable on favourable terms, and also seedless. Figs.— Fie* will also , have to come from America. Tile price is lower than the Turk'sh. but it is about proportionate t>the quality, in spite of\the euccessial efforts ,to acclimatise the Turkish fig in California. The introduction of that fruit, from Turkey into America was a veritable triumph of horticltural skill, in the face of difficulties that had to be overcome, which were very similar to the system by which the cultivation of the silkworm was for years so jealously guarded in the East. However, there mnet be something specially suitable m the Mediterranean climate, for at present the same variety does not give the same results in California. Dates are very low in stock, and fresh shipments are eagerly awaited. CordiaV—Tho weather is so much ahead of the almannc that an earlr demand has come in for cordicls of all kinds. 1 Prod"re.—Th« markets are very firm in nractically every line of Southern pro'jnee. In the local! auctions vegetable* havo been in very h»aw supply, at conseouently W pric*s.\and this probably accounts for the market \reau ; ring smaller auantities of imported potatoes and onions. Potatoes, Onions and Oats. Potatoes.—Small stocks have enabled the price to agtin follow the rise in the South, and white varieties have this week sold at *e high as 12s ex store.. The Katoa » Ending a very welcome shipment, but the forward market does not appear quite so firm. It is Quite possible that the present high prices will attract into tho open market some "of the stocks now stored in pits 111 Canterbury, especially when the growers realise , that they have less than two months to eell their surplus so far as Auckland ib concerned. . , i New Potatoes.—A few are coming in .already, growers being tempted to dig an immature crop on account of the fancy prices obtainable. ..-.', 1 * • ' Seed Potatoes—Merchants report, a fair demand, but chiefly, in small auantities The growing crop is doing well, and will be all the better for the rain that fell, yesterday. Onions.—Japanese and American are sellinc quietly. The Wairuna is in with another shipment of American. A good many ca«es of this were booked to arms at 2os. Oats.—Definite export business has harI dened up the price in the South. Local ! stocks are not very heavy now. and quota- ; tion has advanced to 4s 6d. Chaff—This is also m keen demand for ' export to Australia, and best Blenheim has . advanced to 9s 6d ex store. . Local has been meeting with • a very poor inquiry, but the rise in Southern chaff may improve the dei Fowlwheat.—The market has appreciably 1 hardened ss a result of export business. j Bran.—The scarcity in getting more pronouucod each week, and apparently there will be no Tolief as long as the Australian 1 drccht lasts. ." . .. I Pol'ard— Unchanged, with good supplies. M'ize.—Rather small supplies are still comI ins in. and merchants are working oH their stored stocks. ... ~ , , Flax.—A little is gom? away this week. but fresh business is null, with price* weak in London and New York. WHEAT MARKET. Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) LONDON. Sept. 24. i Owing to the improved political situation and weakness of the American market the wheat cargo market is dull. Quotations are 6d to a Is lower. * PRICES OP METALS. Australian and N.Z. Cable Association. (Reed. 4.5 p.m.) LONDON. Sept. 25. Copper.—On spot £65 6b 3d, forward £63 16 Lead.—On spot £23 18s 9d. forward £23 Spelter.—On spot £32 7» sd. forward £32 28 Tin.-On spot £161 lis 3d. forward £162 Silver.—2s Hid per on standard. BRADFORD WOOL MARKET. ' Australian and N.Z. Cable Association. ' (Reed. 4.6 p.m.) LONDON. Sept. 25. The Bradford wool market is firm, with a good tone. The following are. the current quotations:—64*s 4s 30d to ss, 58*s 3s 5d to 3s 6d, 56'8 2s 7d. FOREIGN EXCHANGES. A. and N.Z LONDON. Sept. 25. ' The following rates.on foreign exchanges are current to-day, as compared with the. cabled quotations on September 21 and par: ~ Sept. 25. Sept. 21. Par. I Now York .. 4dol 42ic 4.434 4.866 Montreal. .. 4dol 42J0 4.43| 4.866 'Paris.. .. 57fr850 67.93 25.225 Rome .. .. 104« ire 1041 25.225 Berlin . . V. 6175 m 6250 20.43 'Stockholm .. IGkreiore 16.70 18.169 Chriatiania .. 26kr 17are 26.27 18.159 Copenhagen .! 21kr 17 ore 21.27 18.169 CafcuttaA .-- Is 3id Is 3 9-16 d2s Hongkong. .. 2s 7d 2s 7d — Yokohama .. 2s 2d 2s 2d 2s Old CANTERBURY MARKETS. [BX TKLKaBAPH. —PRESS ASSOCIATION.] CHRISTCHURCH. Tuesday. The potato market still continues healthy. and large auantities aro being shipped to Auckland. In addition to, the quantities which have been sent North recently (6000 i saoks by the Katoa and 7000 by the v&mga- ! tui). a further 4500 bags are on the Opini, which sailed yesterday. It is expected that I another large quantity will be despatched in a few days by the Xoromiko. Potatoes are very firm to-day, and aro hard to buy from farmers. Most of the supplies for the North have been met out of stocks in store. Owing to the demand that has been made from Auckland, it is likely that the needs of other ports will lead to the trade in potatoes keeping up for some weeks yet. The rain whWi • commenced- to fall to-day should have w- beneficial effect on business jco far as seed ie concerned. The demand for oats has caused this line to firm, and several parcels lately have beon sent to Australia, from which source inquiries are still coming to hand. Gartons aro from Id to 2d firmer than they were last week. Stocks of oats in store are just about cleaned out. so any orders now. coming in for this Mne are aal to the benefit of the farmer. Chaff is still lifeless. Recently the demand 1 for fowl wheat has improved. It is now I being quoted at 4s 3d Lo>b,