COMMERCIAL.

New Zealand Herald, Volume LIX, Issue 18278, 20 December 1922, Page 7

COMMERCIAL.

CHRISTMAS TRADE. NEW RECORDS ANTICIPATED STABILITY OF PRICES. Wholesale and retail are in the throes of a very active Christmas trade, the rush being no doubt more noticeable on account of the delay occasioned by the election. WJiolesalo trade for the year i 3 usually over by now, but this year it has kept up longer, and retailers are still getting in their urgent supplies, especially in lines that have only recently arrived. Retailers are naturally busy, this being always the best week of tho wholo year, and in many quarters it is estimated that sales will easily exceed last year's. Tho improved fanning prospects have apparently set tho pace for the wholo community. After an unfortunate period of depressing prices for most of our primary products, a dramatic improvement has altered tho wholo outlook, it would tako more than one good season to overtake the losses incurred by some farmers, but the assured returns are already making business most activo with all country districts. Money is plentiful this year, and the public aro apparently satisfied with the prices, judging by tho patronase given to most <iepartments. especially those catering lor ChrUtmas requirements. . .„.:_.„. Prices.—A factor in the heavier business now takinc place is probably the «««"»? confidence in regard to pneea. For all P«£ tical purposes. London controls the markets of the world, and therefore it. is of P»»»;U----lar interest to note that durinrc the whole of this year the price index number tor toocl and materials ha* fluctuated betweeii exceedingly narrow limits, m marked contrast with tho steady riao from 1911 till APJUf 10-:0. and tho violent fall, that continued til the end of 1921. The. index numbei J9oDlished by tho -London Times 18 cnl "'^ t( 60 commodities. 22 being food and 28 Demo industrial materials., and on a Jm»«'™ in 1913 the lowest index number this year was 155.6 in September and the h£H>t 108.8 in October, tho same number « in W These ficurcs compare with 330.4 in Jan "? ry ' and 352 9 in April of that l'* a Vi „J the •most sensational'fall ever recorded began at such a rate that by April of 1921 the index number was down to . 19b /^ u £™ Zealand tho same stability in prices durin. 1922. in contrast with 1920 f«d "21, w un doubtedly airing more confidence to buyers. Hardware.--lncre.ased activity m requisites and building f* feature of trade just now. The farming qe mand is particularly enco»»«£«• a Vn building operations in the suburb* ana in the country indicate a. copfiden=« iaM future, and also .in prices. m«.» well for the coming year. Potatoes and Onions. obtain full supplies to last them o%er h0 po i ta y toe 3 .-Large hea°vy rushed in. but it is expected that tne neavy Jain on Monday will curtail supplies for a few days At the same time, it m .u«it be toeT mind that the usual experience „ for more active digging to be Te a ™»™ ™ soon as the weather clears up. in order to prevent second growth, a danger *» w potatoes are particularly subieot.when ram falls heavily after a dry spell of hot wea ther Meantime, the demand is very Keen %n 8 ic G ns-Now ro that the American are exhausted except for very limited quantities in the hands of retailers, a good demand has come in for tfee new season s local onions. Quotation, is about 2id es : store. but buyers are taking, only small Quantities from day to day. as it is not advisable to Btore a large stock when they aro so lmma-tUOats.-A sharp advance of 3d per buahel has taken place in the South. :pw>w«» have been adopting a very firm, attitude fo). some time, on account of continued export inquiries, whereas it is.known that a smaller harvest than usual ia m sight Local stocks j are now rather heavy and sales are only moderate. , .. "I Chaff.—Buyers have been operating very freely, and lorge Quantities of Blenheim chaff have boon worked off at 10s Cd ex store. Forward business is likely to .be dull, there being much less required during the summer. „ , . , Hay.—The ram on Monday caught a lnrgo number oi farmers who cut their hay last week and intended to stack it early this week. The quality will now depend on whether they get two or three consecutive | days of bright sunshine to get it in. before j the continued rnin damages it further. In most districts tho hay crop will be a very heavy one. Cereals and Other Llne3. j Wheat.—Fowl wheat is selling at 7s ex | etore, with good supplies here. Bran and Pollard. —Both are in good supply. Demand for bran has eased off. but pollard is row selling better again. Flour. —Active business has not been resumed sine* the slackening that followed tho excessive buying last month. 'Maize.— Large supplies arriving brought down the price considerably, but this week I the market is a little firmer again, and trier- : chants are quoting os ex Btore. Demand j is always losis at this time of the year, when ; extra quantifies of wheat and oats aro l usually sold, but at present maize is very 1 cheap in comparison with the other Brains, j and sale 3 are much better in consequence, j g coc l s .—The feature of the market is the \ enormous demand for swedes. Some farm-1 crs got their seed in last week, and their I crop will get a splendid start before the fvy can attack the young growth. After tho rain this week, most land will be in perfect i order for ploughing, and farmers appear do- ! terminod to have plenty of fodder crops this , season. ... , . Fertilisers.—Activity in planting brings a j corresponding business in fertilisers, tho principal call being for tho vc.rious special ! turnip mixtures that are on the market. : Fungus.—A.keen demand is reported, and buyers have advanced their price to 9d. Flax.—The London market is firmer, aftor a dull neriod of stagnation, and a few sales , have taken place for early shipment. Unfortunately, the London inquiry ia not very keen. FOREIGN EXCHANGES. Australian and N.Z. Cable Association. (Itecd. 10.30 p.m.) LONDON, Dec. 18. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on December 14 and par:—Doc. 18 Dec. 14 Par. New York . . 4dol 655 c 4.65 i 4.BGG Montreal .. 4dol G7}c 4.G7J 4.8G0 Paris .. . . 62fr 150 64.65 25.225 Rome .. . . 90JHre 925 25.225 Berlin .. 29,500 m 36.000 20.43 Stockholm . . 17kr 28ore 17.23 18.159 Christiania . . 24kr 37ore 24.37 18.159 Copenhagen . . 22kr 28ore 22.23 18.159 Calcutta . . Is 4d Is 3 5-lGd 2s Hongkong .. 2s 3d 2s 3Jd — Yokohama . . 2s l}d 2s lid 2s OJd BRADFORD WOOL MARKET. Australian and N.Z. Oahl© Association. (Reed. 9.30 p.m.) LONDON, Dec. 18. The Bradford wool market shows more inquiry with hardening prices. There is fair business in crossbreds Quotations are distinctly dearer, especially for medium crossbreds. WHEAT. Australian and NZ. Cable Association. (Reed. 9 5 p.m.) LONDON. Dec. 18. Wheat catsoes are fully steady in sympathy with better American advices and unsettled weafiher in Argentina. Parcels aro unchanged to threepence higher. WAIHI SHARES Australian and N.Z. Cable Association. (Reed. 10.30 p.m.) LONDON, Dec. 18. Waihi shares are quoted on the London Stock Exchange at 33a Id. THE LONDON MARKETS. STEADY DEMAND FOR BUTTER. [BY TELEGRAPH. —OWN CORRESPONDENT.] WELLINGTON. Tuesday. The Department of Agriculture has received the following cablegram, dated December 16, from the High Commissioner for Neijj Zealand. London: — Meat. —New Zealand supplies generally &re short. Wether mutton cannot be quoted. There is rather a slow trade in lamb at last quotations except for secondclass quality, which is feeling the effect of Australian competition. Supplies ot chilled beef are heavy and prices lower. New Zealand frozen beef is slow. New Zealand Mutton. Ewes. 65 d to 7d New Zealand Lamb: Best quality light-weight. Hid to la; heavy-weight. 10Jd North Island, ordinary, lid to Hid; second-class quality, lOld to 10|d. New Zealand Beef: Fores. 3jd- hind 3, 4id: chilled beef, fores. 3id: Butter.—The market is steady. New Zealand- Salted, finest. December 16. 180 a to 184s per cwt; fine. U2s- to 178s per cwt; December 9. "0s to i76s per cwt: December 2. 188s to 192s per cwt; unsalted, December 16, 184s to 186s per cwt;, December 9 180s per cwt; December 2, 196s to -0U; per cwt. Australian: saltod, finest, December 16. 174s to 176s per cwt; other qualities. 150s to 172; December 9, 164s to 168s per cwt- December 2, 176s to 184s per cwt; unsalted, December 16, 174s to 1783 per cwt; December 9. 164s to 170s per cwt. Argentine; December 16. 154s to 165 a per cwtj Decembei 9/1648 to 164» per cwti December 2.166 afa i

176« per cwt. Canadian, December 9 and 16: 160s to 164s per cwt; December 2, 174s to 180s per: cwt. Danish: December 16, 208s to 212s per cwt; December 9, 200s to 202s per cwt; December 2, 208s to 210s per cwt. Cheose.—The market is firm. English: Finest farmers'. December 16, 135s to 140s per cwt; December 9, 132s to 140s per cwt; December 2, 130s to 140s por cwt. Canadian: December 16, finest coloured and while. 124s to 126s per cwt; fine. 120s to 122s per cwt; December 9, coloured, 122s to 124s per cwt; white, 122s f to 126s per cwt; December 2, white and coloured, 122s to 126s per cwt. Now Zealand: December 16, finest coloured and white, 122s to 124s per cwt; fine, 120s ix>r cwt: December 9. white and coloured, 122s to 124s per cwt; December 2, coloured, 124s to 1283 per cwt; white, 126s per owt. Dairy produce, ex S.S. Paparoa, is now in the market. Homp.—The Manila market firmed early this week, but closed easier. "J" grade, December-February shipments, sold at £34 10s down to £34 per ton. New Zealand henip is obtaining a better inquiry, but at prices below Now Zealand ideas. Buyers quote: Good, fair. £33 10s; highpoihts, £32 ss; fair, £30 IBs per ton, DecemberFebruary, and January-March shipments. Wool.—Tho sales have closed. Tho total quantity offered was larger than at any Erevious series this year, and tho great ulk has been Fold. Competition wn.:» keen throughout, the outstanding feature being the consistent demand for crossbred, greasy and Blipe. The Home trade was supported well. A total of 81,000 bales were purchased for export, of which America took 20,000 bales, and Germany a fair quantity. Merino closed from 5 per cent, to 10 per cent, below closing rates of the last series, and fine orossbred par to 5 per cent, below. Modium orossbred showed 15 per cent., and coarso orossbred 10 per cent, higher thnn last rates. Average closing valuea were:—6o-61's 'Merino). 17d to 04d per lb: 56's (super hnlfbred), 16d to 22d per lb; 50's (halfhred), 13d to 16d ner lb; 48's (fine orossbred), 115 dto 13-} d por lb; 44-4G's (medium crossbred), 85d to lOd per lb; 3040's (coarso crossbred). 7Jd to 9d por lb. The next series commenco on January 23. LONDON WOOL MARKET. The Now Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from its London office under date of December 15:— Wool Sales.—As compared with last sales closing rates, prices aro about 5 per cent, higher for orossbred lambs, scoured crossbred coarse crossbred slipe, fine greasy crossbred and lino crossbred slipe; about 10 per cent, higher for coarso greasy crossbrod, medium crossbred slipe; and 15 por cent, to 20 per cent, higher for medium greass' crossbred, and about 5 per cent, to 10 per cent, lower for Merino. Tho sales closed firmly. Tho prices realised for average to super grades of descriptions wore:— Merino super, 2(Sd to 23d. average 21d to 25d; crossbred, 50-58's 20d to 26d, 48-50's, 15d to 20d, 46'8-48's. 13d to 161 d. 44-46's. 10id to 13d, 40-44's, 6}d to lid, 36-40's, 72d to 9d. PROPERTY SALES. Messrs. Smith and Halcombe, Ltd., actin? under instructions from the Registrar of the Supremo Court, on account of the third mortgagee, will offer by public auction at their rooms, 5, Customs Street East, at 2 p.m. to-day, 124 acres, with buildings, at Buckland; also, on account of another .vendor, 71 acres, without buildings, at Titirangi. Messrs. T. Mandeno Jackson and Co. will offer for loaso by public auction at. their rooms. Customs Streot East, at 2 p.m. today property at 2. Takutai Street, Par'nell, together with six-roomed dwelling. Tho term of the lease is for ten years.