COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18396, 11 May 1923, Page 5

COMMERCIAL.

WHOLESALE AND RETAIL.

PRODUCE BUSINESS GOOD.

EFFECT OF SOUTHERN FLOODS.

Business shows no improvement since the beginning of the -week, and most of the wholesalo houses are quietly making preparations for the increased activity that is expected with forward booking next week.

Retailers have had a fairly rood week, with considerable interest in drapery, on account of various reductions announced. In grocery the tendency is rather the other way, a good deal of the irregular cutting, of prices having come to an end. Suburban business is still increasing in most districts, fresh shops being opened every week, so that it has occasioned a good deal of comment in regard to the large amount of purchases which residents can now make near their , own homes, instead of going to town. In tome quarters there is an impression that the suburban business is already overdone, but there is no sign of calling a- halt; and Auckland is growing at a rapid rate that seems to justify every progressive movement. Building Continues Active. Building trade continues active in_ both residential and business premises. Numerous blocks of land in the suburbs have recently been cup up, and new houses have taken the place of the grazing-, fields of mx months ago. Indications are in favour of a continuation of building activity, for the shortage of houses will take a long time to overtake.. Export business in timber is extremely limited. Oils.The painting season is over, after very active business, but a slight easing in linseed oil points to more favourable conditions next season. Castor oil and olive oil are also a little lower. Hardware.— are kept busy on building orders, but in farm requisites the chief attention is being given to fencing wire. In America, there in a good deal of speculation as to how long the present prices for heavy goods will be maintained, advices by the last mail suggesting that it would take a great increase in export orders to keep prices at what are, almost a boom level. A cablegram received by a local firm yesterday, announcing , a slight. reduction in Scotch pig iron, is interpreted 10 mean that the exceptionally strong market of the last few months may have been largely duo to temporal? causes, more or less directly connected with the dislocation of business with the Ruhr, and that other arrangements have now permitted business to resume a, more normal level, consequent on increased production. Tinplates are also lower again, after being very high for a few months. Dried and Canned.Fruits. Dried Fruits.—A few Mildura sultanas have arrived, and have opened up in good condition. Importers have arranged for spread delivery, so that regular shipments will arrive during the winter, but no more are on offer for forward contracts. American sultanas are much cheaper, hut quality usually sells all the Australian that are obtainable. South Africa is offering sultanas this year at about the same price as the Mildura, fruit, but the quality hardly compares with the very fine grade now coming *rom Australia. New season's dried apricots are offering from California at what looks like a favourable quotation in bond, but the preferential duty will probably divert the demand to the South African fruit. Canned —American pears are short, but favourable quotations are to hand for sliced. peaches and apricots, and these are meeting with a good response locally. Distributing trade is still rather quiet in canned fruit«. Produoe.—A good business is being put through, the feature of the week being the changed attitude that has been adopted toward Canterbury quotations since the floods of the last few days. Potatoes and Onions. Potatoes.—Since the deluge in Canterbury has attracted attention to the position of supplies,- the market has become quite excited in the South, and the rise in price appears to be quite warranted. Local supplies are fairly good, and merchants are still quoting 9s 6d to 10s ox store, but this quotation must be advanced before long, as potatoes could not now be landed from Canterbury to sell at the money. » Onions.Market, is a little firmer, but Australian quotations are preventing any tangible advance, and re-picked samples are still selling at 9s ex store. -A few Australian are actually here, and although they are quoted at slightly more money they are in fair demand on account of their prime condition. Regular shipments may be expected for the future. • Oats.—Market keeps weak, and the rain in Australia this week is expected to further depress the market, especially as the shipments so far have not been very substantial, The inquiries were largely speculative, on the strength of the drought being prolonged into the winter, but even at this late period of the season the rain will probably choke off further purchases Seed Oats.--A few orders for Alegrian seed are coming in, but the main demand is not expected till next month. Chaff.—The bad weather in Canterbury and Marlborough has had a hardening effect on the market, and Southern is firm at lis ex store. Good . supplies are now held here, but the high price is diverting more attention to local at 9s 6d, and at this figure some of the samples offer very good value. Wheat, Bran, and Pollard. —Milling wheat is not receiving much attention at present, while buyers of fowl wheat seem inclined to wait for lower prices, consequent on the large proportion of the harvest which will not grade as milling this year. Local quotation for fowl wheat is steady at Cs 3d to 6s 6d ex store. Bran and Pollard The restriction of export has not yet had, time to affect stocks, and the demand is still much in excess of the supply. Substitutes are being found in the various special food preparations now on the market at favourable prices. Linseed—Demand is not yet very' heavy, but the price has advanced to i3s Gd ex store, and there seems little likelihood of a fall before the dairy season commences. Maize.— market has a firming tendency, after sales at 5s to 5s Id on the wharf in» wholesale lines, but the .price is now high, in comparison with wheat, and the demand is inclined to fall off a little. Fertilisers.A keen demand continues, with top-dressing in full swing. This points to a good dairy season next year. AUSTRALIAN AND N.Z. LAND CO.. Australian and N.Z- Cable Association. (Rccd. 8.5 p.m.) LONDON, May 9. The New Zealand and Australian. Land Company has declared an interim dividend of 2 per cent., free of tax. TALLOW SALES. Australian and N.Z. Cable Association. (Reed. 8.5 p.m.) LONDON, May 9. At the tallow sales 1560 casks were offered and 608 sold, mostly at 6d to Is decline. The following prices were realised:— ton, fine 42s Gd, medium 38s; beef, fine 43s 6d, medium 37s Gd. STOCK SALE. HAMILTON. The New Zealand Loan and Mercantile Agency Company, Ltd.. Hamilton, report:— At Frankton Yards on Tuesday we penned 996 sheep and disposed of the whole entry. Fat wethers made 31s to 355; fat ewes, '25s 6d to £63; store ewes. 13s to 18s 3d; 400 four and six-tooth wethers from East Coast, 27s 6d to 28s; 150 four-tooth wethers from Kinohaku. 28s 3d. A small entry of cattle, with beef in usual numbers, came forward, and sold at late rates. Light, unfinished steers. £3 163 to £5 Is; rough cows. £3 2s 6d; store cows, £1 2s to £1 4s; steer calves. £1 to £1 6s; dairy cows. £6 to £3. A good yarding of both fat and stor« pigs came forward. Fat pigs were easier, while stores showed a slight rise on last week's prices. Prices realised were: Heavy baconers, £3 Ss to £3 15s; medium baconers. £2 15s to £3 ss: porkers (good). £2 5s to £2 10s: porkers (unfinished). 30s to £2; stores, £1 to 30s: good weaners. 10s! to 14s: others. 6s to Ss 6d. The 16 breeding sows advertised by us sold readily.' and all ! were sold under the hammer at from £3 : 10s to £5 ss. _ ! The Farmers' Co-op. Auctioneering Co., I Ltd.. report:—At Hamilton on Tuesday our; yarding of sheep and cattle was small, but \ pigs were again in full supply. Sheep sold at about last week's values, a line. of medium wethers from West Coast averaging 33s 6d. j Only a few small fat sheep were penned, these realising from £3 73 Gd to £5. Cows. ' voung, and of good quality, from £3 lis to £4 15»: empty cows. £1 Is to £1 7s 6d. The yarding of store cattle was small. a line of calves being the only prominent feature. Heifers of all classes made from £1 5s to £1 Bs. A draft of 80 unbroken horses from West Coa.st were well competed for up to the value realised. Good sorts made from £4 to £6 10*; foal? to two years old. lis to £2 10s. Competition for pigs was not so brisk as at recent sales, although the entry was cleared. Baconers made to £3 13?: light baconers, £2 5s to £2 15s: porker*. 35s to £2 4«; light porkers. 27s Gd to 323 6d; slips. 15s to 16s.