COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18354, 21 March 1923, Page 7

COMMERCIAL.

WHOLESALE AND RETAIL.

THE GROCERY TRAISE.

THE PRODUCE MARKETS.

The spirit of carnival week has entered into the retail this week, and a lavish display in keeping with the occasion is being made by most houses. In the wholesale, however, the majority of reports still indicate quiet conditions. Book- ! ing for next month commences this week, I but it is not up to its: usual proportions. j On account of annual stock-taking, quite a number of buyers are delaying their monthly purchases until they are actually into April. Money appears to be plentiful for investments of a kind, but in ordinary trade the position is not satisfactory, and there are numerous complaints that it is difficult to get cash in, especially for settlement of current accounts. Exports continue on a heavy scale. The Auckland wool sale of last Saturday will release a few thousand bales for shipment, while ordinary consignments include large ! quantities of butter, cheese, and meat, i with fair parcels of tallow, hemp, and : casein. Dried milk has not been shipped in such large quantities lately. Groceries.The shortage of eugar has not yet been overtaken, and supplies are still Deini rationed this week, even tor delivery | within the city- Saeo and tapioca are very scarce in the wholesale, and lorward quota- ; tions are high on account oi sustained European demand. No large quantities will be hero until arrival of the direct steamer from the East, early in May. 'this boat La timed i to leave Singapore early in April, and is : already booked a full ship. Singapore pineapples are in plentixul supply, and are ottering at low rates, but demand is limited while fresh fruit is 'so plentiful. Greek currants have landed from the Faparoa, and , will keep the trade supplied until the new [ season's Australian are ready. The Lenten j demand for fish is not nearly so pronounced &>3 it used to be a few years ago. The usual extra importations of new season's preserved fish have been timed to arrive for whatever trade is offering. Dried ling and cod are included in these, but they do not attract their old-time trade. Cod is offering in a more popular condition, fresh fillets having been imported in cool chamber. Dairy Produce. Butter.—Butter is in full supply, and is Belling well at the advanced rates in keeping with the price in .London. New Zealand is now commencing a new experience in the Loudon market, and is apparently likely to meet less competition during the flush of tiio northern season than during the flush of our own season, the reverse of previous years. The market will be watched with keen interest during the next tew months to tee what market changes will bo , brought about by 'the new conditions of I supply. Cheese— prices have been advanced to conform to the rise in London. Demand , keeps up well. j —Factories are gradually overtaking the shortage, and supplies are offering ironi more sources than earlier in the season. Mariiet is firm lor all descriptions, I and demand iB reported good. This latter I is largely attributed to the fact that eggs have been plentiful and cheap during tne summer, a feature that is always accompanied by heavy sales of bacon for the popular morning dish. Eggs.—Demand is steadily improving, the usual feature at the approach of Easter, and a diminishing supply has resulted in | an advance in the wholesale price to 2s 7d. • Retail is still inclined to lag behind the ; wholesale market, and fresh eggs were being : offered over the counter on Monday at only I a penny over the wholesale price. During 1 the scarcity of this autumn and the early I part of the winter the price of egi.3 will no | doubt follow the natural conditions of local j supply and demand, uninfluenced by importations of foreign pulp, for the first time for many years. Displays of Drapery." Drapery .-7-This is a department that natural, lends itself to a spectacular display during carnival week, and local houses are making a strong feature of seasonable goods. The summer sales having ceased with tho end of February, new goods are now being shown in great variety, ex recent arrival*. The tashionablo part of the trade has opened up well, and the indications are for a good month, while an improvement in the clothing department is expected shortly. Hardware.—Business is not " particularly brisk, except in building lines, general trade , beins; only fair. Buyers appear to be very J reluctant to unduly increase their financial j obligations. The market is strong in heavy I lines, based on a solid advance in pig iron and tinPotatoes.—Large supplies are keeping the market weak at 89 ex store for prime quality, while anything off colour is selling nt a substantial reduction. Southern are arriving in good order in spite of numerous reports that the yield would be reduced by the prevalence of blight. I Onions.—ln very heavy supply at 8s 6d to 9s ex store, and the market seems likely !to keep weak. A report from Melbourne i advises a record crop of '• brown Spanish, [ " with no prospect of export whatsoever," I and growers _ are wondering what they can !do with their surplus now that America ; will not buy. The price in Melbourne is > down to about £3 5s per ten for prompt ; shipment, or £4 5s for forward delivery, so that it seems equally apparent that no more j outside orders will come to New Zealand. • Oats—Export "demand for Australia, due Ito tho prolonged drought, is keeping up ! the price. Local stocks are not very heavy, 1 and the chief trade is in B grade at 4s Cd , ex store. I Chaff.—An easier tendency, with larger ! supplies offering from Canterbury and Marl- ■ borou&h. Best quality is quoted at lis ex , store in small lines. Local is also offering a little more freely, and the market is now more settled at about £7 at country stations in truckloads. Wheat, Pollard and Maize. Wheat.—The delay of the Government in ratifying tne arrangement between millers 1 ana growers is naturally supporting the general local impression mat the prices are too high- In addition to a, cutty of £2 10s on flour, or Is bd per bushel on wheat, the grower is also protected by the primage, equal to at least another 2s per ton, besiuw.. I a lurther 10a per ton in the dmerente in ' ireig..t irom AustraLa, as ccmpaied with the botttti, and this strengthens the contention that this is Quite enough protection lor growers without unduly maintaining the embargo on importation. Buyers are acting on this conviction, and are restricting their purchases accordingly in both wheat and . flour. ! Fowl Wheat.—The market is a little easier jat Ca. 6d ex store tor prime samples. Local j stocks are rather light. 1 Pollard.— stocks are almost entirely j limited to the output of the two locai nulls. 1 but full quantities of Southern will be here ! shortly, bought at the reduction of £1 per j ton for which merchants were waiting. , Maize.—Merchants are apparently willing ' to take in full quantities of maize, and the 1 large arrivals consequently did not depress ] the _ market. Most of the consignments I realised 4s lid on the wharf in wnoiesale lines. Flax.—Export is very dull! A' iitttle I inquiry is coming from the United States, j but at low prices, the principal call being for high-point fair. Any British inquiry, on the other hand, is for common and low-point fair, whereas most of the flax coming in is j grading high-point fair and upwards. Mills i are not actively pushing their output, so that not very much is comin? in at present.

FOREIGN EXCHANGES. Australia:] and N.Z. Cable Association (Reed. '9.5 p.m.) LONDON, March 19. The following rates on foreign exchanges are current to-day. as compared with the cabled quotations on March 15 and par:— Mar. 19. Mar. 15. Par. New York . . 4dol 70Jc 4.693 4.866 Montreal . . 4dol 81Jc 4.79} 4.866 Paris . . 73fr 250 75.70 25.225 Rome . . 07 lire 97} 25.225 Berlin . . 97.500 m 97,000 20.43 Stockholm . . 17kr 63ore 17.63 18.159 Christiania . . 25kr 86ore 25.80 18.159 Copenhagen. . 24kr 350r» 24.33 18.159 Calcutta . . . Is 4 3-3!2d Is 4 3-32 d2s Hongkong . . 2s 4d 2s 4|d — Yokohama .. 2s OJd 2soJd 2soid

AUCKLAND HIDE SALES.

FAIR DEMAND YESTERDAY.

There was fair competition by a full bench of buyers at the Auckland hide and skin sales yesterday. Exporters were operating freely. The following prices for hides were realised:—Cow, 6d to 31d per lb.; ox, light, 6d; medium. BJd to 9Jd; heavy, lOd: stout, 13d: inferior. 5d to Bid; yearlings, Did; kips. 7Jd to 9d ; calfskins, faulty, lOcf: cuts, Hid; good, 15d to 161 d. Sheepskins realised the following prices: — Pelts, Is 2d; quarter wools, up to 3s; half and three-quarber wools, up to 4e 8d; woollies, up to 5« 6d; lambs, 3s 4d to 4s 7d; shorn lambs, 2s-

LONDON MEAT QUOTATIONS. [BY TELEGRAPH.OWN CORRESPONDENT.] WELLINGTON. Tuesday. The New Zealand Meat Producers' Board has received the following cablegram, dated March 15, from its London office, relating to the frozen meat market:Smithfiold today has a slightly better tone, but the cold and wet weather is limiting the sale of lamb. A better demand is certain -\t Easter and earlier if the weather changes. To-day's values are: New Zealand ' lamb, best brands, twos and eights 12id to 13s; inferior brands, ll}d to 12d; wethers, ones, sevens, threes, BJd to 9id, nines, fives, 7d to Bid; ewes, 7d to 7id; inferior, 6Jd to 6|d. Chilled beef is temporarily short, but large supplies are expected next week.

CANTERBURY MARKETS. [BT TELEGRAPH. —KRESS ASSOCIATION. ] OHRISTCHURCH. Tuesday. The position in regard to wheat remains practically the same as at the week-end. The majority of transactions recorded are on a conditional basis, the difference in price to be paid in the event of Government ratification of the prices fixed by the growers and millers. The oats market is also in much the same position aa at the week-end. Shipments for Australia are being purchased on last week's basis. Generally the market is firm but quiet. Very little is offering from the country. Peas have weakened further. The quality this year is stated to be not so good as it was last year. The peas are smaller and are badly wrinkled. F.A.Q. peas, it is asserted, are practically Valueless so far as the London market is concerned. The demand for perennial and Italian ryegrass continues firm at last week's prices. Very little linseed is being threshed owing to the grain season being late and the grain threshing not being finished; Sales have been made to Australia at £14. White clover has receded somewhat, recent sales having been effected at Is 4d to la 6d. Cocksfoot is unchanged, but is very dull of sale. It is anticipated that the potato crop will not be quite so good as last year, the average this year being estimated at between 6 and, 7 tons, as compared with 10 to 12 tons last year. In Christchurch and vicinity frosts are roported to have out potatoes right down. Although sales for April-May delivery are reported at £3 15s, it is considered that £3 10s is nearer present values. Chaff is deoidedly weaker and its value is quoted at £4 10s on trucks for good bright lots. F.A.Q. is worth £4 and l is difficult to sell. Supplies have been rushed on the market with the result that there is more or less of a glut.

STOCK SALES.

WAIKATO

The Farmers' Co-operative Auctioneering Co., Ltd., Hamilton, report as follows on stock sales hold in the Waikato-Beef has suffered a sharp decline. The cessation of operations by the export companies in this branch has been responsible for throwing considerable quantites on the market, which the requirements of the local trade have been insufficient to absorb. The market for mutton has also declined. The favourable season iB responsible for abundant stocks, especially of ewes. Store cattle have again reached a low ebb and stocks are difficult to dispose of. There is an absence of inquiry for practically all _ classes of steers. Empty heifers are also in poor demand. Store sheep have in general .declined. Breeding ewes draw little inquiry. Wethers have receded to a somewhat greater degree than the fat article. _ Lambs also have weakened, but competition is never wanting. Pigs have firmed considerably since last reporting. According to killing theets yard values work out at from 6Jd to 6id per lb. Competition in all markets is brisk. There is a continued demand for draught horses. We quote: Bullooks, heavy prime £7 to £7 15s, medium £6 to £6 15s; Cows, heavy £4 15s to £5 7s 6d, medium £5 15s to £4 ss, forward £2 to £3; steers. 3i yearß, forward £4 5s to £4 15s. 3i years stores £5 10s to £1 ss; Cows, storae £1 5s to £1 15s; Steers, 2i years, best £3 to £3 10s; heifers rising; 2 years, r.w.b. Jersey £6 108 to £8 10s; heifers, rising 2 years, r-wb. Shorthorn £4 lOb to £5 10s, heifers rising 2 years, r.w.b. Holstein £5 to £6 10s; empty heifers. 18 months, beet Shorthorn, £210 a to £3, empty heifers, 18 months, medium Shorthorn £2 to £2 ss; steers, 18 months, best Shorthorn £2 7s 6d to £3; steers, 18 months, medium Shorthorn £2 to £2 ss; wethers, prime, heavy shorn, 80s to 325; wethers, prime, medium, shorn 27s 6d to 298; ewes, prime heavy, shorn 23s 6d to 82a; ewes, - prime heavy, shorn 23s 6d to 265; breeding ewes, best, 2-tooth. 25s to 295; breeding ewes, best, 4-6-8-tooth, 25s to 80s: breedin. ewes, best, 5 and 6-years, 21s to 245; breeding ewes, medium, 5 and 6years, 17s to 19s 6d; breeding ewes, culls f.m.. 5 and 6 years 12s 6d to 15s; Rape lambs, best 17s to 18s 6d; store lambs, best, shorn 15s to- 16b 6d: store lambs, medium, shorn 13b 6d to 14s 6d; pigs, baconers, heavy £3 7b 6d to £4; pigs, baconers. light, £2 15s to £3 5s ; porkers, heavy £2 4s to £2 10s: porkers, light 37s 6d to £2 2s Gd; good slips £1 2s 6d to £1 Gs; small slips 15s to £1 Weaners 10s to 15s. Horses: Heavy draughts £35 to £45; medium draughts £25 to £50; light draughts £20 to £24; harness horses £10 to £15; hacks £5 to £10.

TAUMARUNTJI. [ET TELEGRAPH. —OWN CORRESPONDENT. TAUMARUNUI, Tuesday. At the stock sale to-day there was a good yarding of all classes, and a good attendance of buyers. Prices were not as firm as usual. Fat sheep made 24s 3d; cull lambs., 5s 3d to 7s; 2-tooth wethers, 259: 2-tooth ewes„ 31s; fat cows. £4; fat bullocks. £5 to £5 10s; steers, £2 lGs to £3 15s; heifers, £2 10s to £2 16s; store cows, £2 15s to £2 16s.

MANAWATU. Daleety and Co.. Ltd.. Polmerstou North, report:—-At the Feilding sale on Friday there was a moderate yarding of both sheep and cattle. While there was rather a better inquiry for sheep, especially for ewes, cattle were hard to quit, and _ all lines of any •ize were passed at auction. The few fat stock offered really formed no criterion of the market. Snnll lambs. Bs> 6d to 12s 3d, medium lambs, 14s to 15a* W.F. shorn aether lambs, 17s; W.F. woolly lambs. 18s; B.F. lambs, 17s; four and five-year ewes. 24s to 265: four and six-tooth ewes. 29a to 31s: two-tooth wethers, good. 26s Gd. 26s 9d. A pen of 180 extra good two-tooth Romney ewes realised 39s sd. Young S.D. rams, 6 guineas to 9{ guineas; fat lambs. 23s 3d to 245; light fat ewes, 20s; a few extra heavy fat ewes, 275. Store cows, 30s to £2; light fat cows, £3 5s to £3 13s; Jersey weaner heifers, £4 16s; fat heifers. £4 Is.

PROPERTY SALES. William A. Home, Ltd., will offer for Bale by auction, High Street, to-day. at 1 p.m.:— Five-roomed bungalow and halt-acre section, situated Henry Street, Avondale; fourroomed villa on section 50 by 180, situated txenry Street, Avondale; four-roomed bungalow on section 54 by 156, situated Richardson Road, Mount Albert; also two building sections, one in Vincent Road and one in Richardson Road, Mount Albert. At the Haymarket Land Salerooms, Albert Street, on Friday, at 2.30 p.m., Alfred Buckland and Sons, Ltd., will offer for sale by public auction 20 properties in the estate of Mr. Daniel Neilaon (deceased), comprising houses, sections, and farmlets, situated at Onehunga, Te Papapa, Mangere, and Maungakarr.mea. Samuel Vaile and Sons, Ltd., will hold an auction sale at 2 'p.m. to-day, when the following properties will be offered:—Two cottages at Nos. 11 and 13, Sheehan Street, Ponaonby: J-acro section. Vincent Road, Mount Albert: section, 92ft. by 115 ft. 6in., corner Great North Road and Beaconsfield Street: also, at request of third mortgagee, bungalow of six rooms at 21, Buchanan Street, Glenmore. Miles J. Cassidy will offer by auction today, at 1 p.m. on acount of the trustees in a'deceased estate (on the premises), 8, Volcanic Street, near Dominion Road, threeroomed bungalow on level section; also furniture and furnishing in the house, without reserve