COMMERCIAL.

New Zealand Herald, Volume LIX, Issue 18244, 10 November 1922, Page 7

COMMERCIAL.

WHOLESALE AND RETAIL, THE' PRODUCE MARKETS. EFFECT OF SHIPPING TROBULE. The shipping strike is the chief factor in business this week, for everything seems to hinge on it. One very pronounced result has been a hurried sorting up of stocks, with a view to providing against a shortage, and several good wholesale parcela have changed hands during the week. Imported goods are in fairly heavy .supply, as a result of recent arrivals, after a long period of restricted importations, and it is interesting to noto that' for the 12 months ended September 30 the exports exceeded the imports in value by £10,905,000, which just about makes up the leeway in our external trade during the previous two years. Stocks are now in a fairly healthy condition on account of this reduction, and buyers are more disposed to operate, especially in view of several advances in Britain and the United States.

American Prices. —When the last mail left New York iron and steel prices wore very unsettled, as a result of the prolonged coal strike, but tho tendency had naturally been upward. Wages in the coal mines are now very littlff lower than the highest rates paid during the war, and the resulting bigher cost of coal a"nd coke means higher costs for pig iron and steel, and all along the line to the finished products. Not only have the steel producem to reckon on this increase in their costs, but in order to retain their men an advance of about 20 per cent, has been made in so-oalled common labour, which has become scarcer through restricted immigration. Substantial upward adjustments affecting a large number of more highly skilled operatives have also been made, initiated by the Steel Corporation and followed of necessity by the other mills. So far as New Zealand is concerned, one result has been to turn more trade to the British manufacturer, Americans no longer enjoying the great advantage that gave them eo much of the trade last year. Grocers' Lines <k Fruits.

Groceries.—Australian canned peaohes are being imported at favourable rates, compared with* American. A few very hum quality are selling well, in spite of a price on a corresponding scale. Dried fruits are causing anxiety. Greek currants should soon be here, but no sultanas are coming, and importers are taking American raisins of various kinds instead. The Waiotapu has left San Francisco with,a laTge shipment of tho new season's fruit, and should be hero by tho end of the month. All 1 Californian priceß are very firm in dried fruits owing to the further Mediterranean supply being cut off, and it is reported that Europe is buving heavily. Produce.—The .shipping deadlock is having two opposite effects on trade, but both are working 'toward higher prices. In the first place business is undoubtedly restricted by a shortage of supplies from the South and by a shortage of orders from all those distant centres which have so far arranged only irregular and insufficient communication. Against this, however, a keener local demand has sprang up, the general idea being to get in on extra supply before stocks are altogether depicted. Pol/atoes.—Local Btocks of old are exhausted, and as the shipment by tho Wingatui is still delayed at Lyttelton it seems that the n-nlw way Jo pet any will be to «Mp to Wellington »nd rail from there. The extra cost would be rather heavy, and make it a risky experiment so l&te in the season, when supplies of new rtotatoes may be expected to ire-ease rartidiy. New Potatoes.—The broken weather has interfered with digging, but heavier supplies have now come in, and yesterday some Very fim samnles Were quoted at 2d ex store. •• Pnkekoho .grower* have been railing a, good many to "Wellington, where bettor prices are obtainable than in Auckland.

Onions Gradually Hardening. Onions.—Market is gradually hardening, an tho scarcity becomes more pronounced. The American that are still left are in Rood condition, and they will have to mat another month. It is questionable whether any Australian will be imported this year. as the local crop is doing well, and will probably be ready almost as Boon as the Australian could get here. Other vegetables are also doing" particularly well, and enormous quantities are coming on tho market at low rates. Oats.—The hardening-in the market this week is purely local, and is due to the comparative scarcity. In tho South there is not now the same tendency to look for higher prices, as the Australian demand has slackened off.

Chaff.—Uncertainty m getting continued shipments from Blenheim has imparted more interest in this' lino, and stocks in store have been m heavy demnnd at 9s 6d to 10s ex etore. Very littlo local has been Helling, but any small stocks of Rangitikei chaff nave been working off at 8a Cd to Gs. Wheat.—Fowl wheat is unobtainable locally, tho last having sold at 7s ex etore. An experimental shipment from Lyttelton, via Wellington, will cost quite that much to land here, attar paying railage from Wellington, so that even a higher price will rule next week. Bran.—Export and local demand are both falling off. so that the shortage of supplies from tho South will hardly cause much inconvenience. The local nulla will have to supply the whole trade.'- . . Pollard.—Demand . continues dull, and good stocks aro available.

Flour, Maize and Barley. Flour.—Selling well at the reduced price, but there is difficulty in getting sufficient away to the more distant centres that are supplied by boat. Maize.—Extra freight is being paid on present shipments from the coast, and these are so smslll that the markot is firmer. Quotation ex store is fin 6d to 6s, and the demand keeps up well. Barley.—The scarcity of wheat is attracting a little more attention to barley, but it is not a favourite food in hot weather. Linseed.—Still selling well, but the demand is expootcd to fall off soon. Seeds.—Fodder seeds are claiming most i attention here, and all varieties are selling well. This is. the off season for grass seed, and any business is of a speculative nature, but in the South there as a good deal of business passing. Rye grass has advanced about 8d per busheL LONDON TALLOW SALES. Australian and N.Z. Cable Association. (Becd. 10.5 p.m.) - LONDON, Nov. 8. At the tallow sales 1776 casks were offered and 621 sold. Prices wore unchanged. AUSTRALIAN PRODUCE. Australian and N-Z. Cable Association. CEecd. 10.5 T>.m.) SYDNEY. Nov. 9. Oata,.— Algerian, feeding,, 4s 6d to 4s Bd. Maize.—Yellow, 6s; white, Bs 3d; South African. 5s lOd to 6s. Potatoes.—-Tasmaman. £Vi: local, now £11. Onion*. —£17 to £18. ADELAIDE. Nov. G. Oats.—3s to 3s Id. THE AMERICAN HARVEST. Official estimates issued on September 1, of the principal cropß in the United States, are as follow, the actual yields in 1921 twing -shown tor comparison:—

Estimate- Actual. •Sept. 1.1922. 1921. Millions of Bushels. Maize .. »,« 2875 I 3081 Wheat . ». 819 794' Potatoes ~ 438 346 Barley . »« 194 151 Rye 79 56 Oate .. ... 1255 1060 The tobacco crop is estimated at 1353 millions of pounds, against 1076 millions last year.

PROPERTY SALES. William A. Home, Ltd., will offer for sale by auction at their auction hall. High Street, to-day, at 1 p.m., a cottage and section situated Mothuen Road, A vandal©: also eight-roomed bouse. No. 6, Newton Road, Auckland. . ', , .„ „ Messrs. T. Mandeno Jackson will offer for oale, by public auction, at their rooms. Customs Street East, at 11 o'clock this morning, the following properties, by order of the mortgagee, under conduct of the Supreme Court:—9s acres at Clevedon, 7 miles from Papakura Station, and 140 acres with house of 6 rooms, situated Koromatua, 5 miles from Erankton: and by order of the "Public Trustee, » leasehold property, situated 25, Grafton Road, corner Domain Street*, comprisin" house. 7 rooms, and iiection 67.5 links by 129.25 links. Miles J. Caseidy announces auction sales at his rooms. 15, Queen Street, at 2 p.m., to-day. comprising a< number of sections end bungalowß at Takapuna, »bw bungalow iiud 2i acres at Takapuna, workman's cottage at Princes Street, Onehung*: also a PuMio Trust sale of a 4-roomed cottage in Newton. Messrs. Samuel Vaile and Sons, Ltd., will offer by public auction, at 2 p.m. to-day:— Rough-cast on cavity walk bungalow, ©f 7 rooms, Roslyn Terrace, Mount Albert; two cottages, Clarence Street, Poneonby: cottage. Howe Street; two sections, Western Springs Road, Mornintreide: also for removal, a building in Wakefield Street.