COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18498, 7 September 1923, Page 5

COMMERCIAL.

V * .. .. - ... - WHOLESALE AND : RETAIL.

IMPROVEMENT IN TRADE.

THE PRODUCE MARKETS. The advent of perfect spring weather has brought an influx of business to the retail, of which drapery is the most noticeable. A few clearance sales are still . in progress, but most of the drapers are ' making , their spring display, and a welcome improvement in the patronage afforded them has taken place during the week. Other departments have naturally received a decided benefit from the large • crowds in town. Dried Fruits.—These are naturally receiv- ' ing attention on account of the political disturbance in- the Mediterranean,; but the local importers are not seriously disturbed by the possibility of any delay in the arrival of Greek currants, and sultanas. These are usually shipped in September, and it was only a fortnight later than this last year when the Smyrna catastrophe paused an interruption to the new season's shipments. Most varieties are in heavy supply locally, so that any delay this year will : not cause much inconvenience. American' raisins of, all* kinds are in full supply, a recent arrival of interest being a small ship- - ment of old season's, freshly seeded. , Tea, Sago, and Tapioca. . J Tea.—The markets "are high at the source of*,, supply, in spite of the'poor quality now offering. London buyers are operating heavily in the East, . and" have contracted ■for the whole *of next year's output ; from some of the gardens in India, at about pre-, sent, prices. - ■ : ■ - v: : ' ; v ' : 'l iiayo and Tapioca.—Advices from Singa«. J pore , report an unexpected firmness in - the. market, due to the continued demand , for . shipment to India. It was thought at first • that this could not continue, but heavy buying kept on, and a sharp advance ensued. - It is estimated that Indian buyers took over 1100 tons of sago and tapioca in a 1 month, which constitutes almost .a record for them, and . these large purchases' have naturally given an altogether different tendency to the market. The demand from the United Kingdom is very poor, and no recovery is expected until the European position clears. The factors that will determine the trend of the market in Singapore will be the demand in the East, Australia, Now Zealand, and Africa. Iron and Steel.—The Home markets are steady, with a fair export demand, and this will be strengthened .still more by the latest alteration in the dollar exchange. Costs have mounted up a good deal owing to the higher price for coal and coke, consequent on. heavy Gorman orders since tho occupation of the Ruhr. All constructional mateI rial is in good demand locally, but a shortage is reported _in jo<sts* and bars, due to ! the delav in arrival which has resulted from 'the dock strike in London. _ Residential I building keens particularly active, and ab--1 sorbs large quantities of ironmongery. HamsA large export trade to Australia has seriously cut down stocks, so that prosent indications point to a shortage before Christmas. Some factories _ have already sold their output. Sides are in fairly good supply. Eggs.— large shipment is being prepared for the Corinthio. wh'ch will be loading hero next week. Tho shippers will continue to grade and pack eggs as long a» this vessel is taking in cargo, and thi* will probably take nearly 20.000 dozen off the local market. Large supplies are coming in this week, and even with this ■ export outlet the price is lower. ' Potatoes Rise in Price.

I Potatoes.—A further riso has taken place i during the' week, and ; whits varieties are 1 now selling at 13a Cd to 14s, and red at I about la less. This brings the price up to < a parity with . Southern values. Loo%l . stocks are small, barely sufficient to ' meet requirements, as the demand keeps up i particularly well. In the South the usual | custom is to hold most of the reserves ,in the pita, but this year a largo proportion were put into store, and there are now ex- ] hausted. The future, therefore, depends on the farmer, and the indications are. in favour of a high market being maintained. 1 Seed Potatoes.—Perfect planting weather i has brought in a keen demand for seed, chiotly , Up-to-date, . Gamekeeper, and .< Northern Star, but it now appears to be late in the seasofl to make -up for the i small sales during the wet winter, so thatgood prices ought to be obtained by those 1 growers who . got their seed in early. Seed .i potatoes are in good supply here, and a ■■ surplus will probably bo left over. . Some of the samples are not keeping well now, : and would have been better in the ground < a month ago. \: .■ ; i J Onions.—Market - is well stocked - with Australian, which remain at 10s, A little ' forward business is taking place in Qali- ) fornian, but any importation from the North- ' ern Hemisphere looks risky this year,- in view of the largo quantities offering at low . rates in Victoria. Ripened in a ,<lry ■ climate, they . are keeping their condition wonderfully well, and although they are ; six , months older than the American they will probably keep quite good until the new i G-lobea are ready. The new local crop is ; promising well, • ". - .■ Oats.—After a long period of very dull i business, a sudden activity has taken place in tho South, and this has resulted in .a 1 rise of about twopenco during the week, 1 The looal price has responded, and the present quotations are 4s 6d for B grade and 1 4s 9d for A. There io a. good deal of speculation whether the price will be • main- ' tained, but cne thing in its favour is the intimation' that the usual clearances ths«t are made from . store during the spring, to • make room for; wool, have all been absorbed. Seeds.— fodder crop-peed* are in trfod demand, and there is a. general opinion that tho farmers are determined to make Preparations for a dry summer in case this should be cxpeYienced. Algerian need is filling most inquiries for oats, but there is a small demand for Ruakuraa. Unfortunply, however, this variety in not obtainable. • • Chaff and Wheat. Australian is selling at 10s. either baled or sacked, but in spite of this low price, there is an inquiry for Canterbury at 10s 6d. and Marlborough nt lis. Shippers at Southern ports are rather disconcerted by tho large importations into Auckland from - Australia, and they are endeavouring to find substitute outlets elsewhere. Local is not of much interest in the city. ' Barley.—A small trade is reported in reed barley at 5s 6d. \ Linseed.Price has advanced to 23s 6d. es . store./- A good seasonal demand is reported,. Wheat.A sharp rise ire fowl wheat baa taken place during the week, and quotation 1 is now firm at 7s. , This is attributed to a" shortage beinnr in sight before the new harvest is available, in which case importation from Australia will have to take place but at present there is an embargo. One fairly clear indication of the scarcity is the fact tßnt millers are reported to be now accepting • samples which they had formerly rejected. , , . Pollard. full supply again, and there will no longer be 'any difficulty in supplying , orders. •■'■■■ . . ■ •: •, , , ■ Bran.—-A continuation of cold weather throughout August kept tip an unusually 1 heavy demand tor bran, and even the large , stocks . imported from Australia are practically exhausted. Dairy farmers have been using bran and molasses very freely. ■ Maize.—Rather small supplies arrived during the week-end, and this has hardened the price 1 little, so that new realised up ' to 5s on the wharf, and old up to a, penny ' more. This is regarded as only a temporary ' firmness, and an average arrival would probably, ease it down again. - - •; Reduction in Fertilisers. . ' Fertilisers.—A; reduction of 2s 6d a ion ■ ! l is announced in superphosphates and basic : super. This will be very much appreciated by farmers, especiallv as it has been followed by a similar reduction in most) of the ' mixtures that have super as their basis. > The two ■ local manufacturers are now- getting an enormous business, ' and >t Is •no longer necessary to import super. The late . season has proceed very heavily on manufac--1 tured supplies, and orders are hard to get I- filled at once. In the ordinary way a large Eroportion of those now coming in would ave been supplied a couple of months ' I ago, but for ' a time during the winter > 1 business was almost at a standstill in forI tilisers. and the arrears of orders are not yet overtaken. Bonedust is also in demand for potatoes, arid, other crops, but tho principal trade remains in the' quick-acting fertilisers for top-dressing grass, Baaio slag - is now in oply moderate demand, and is arriving in quite sufficient quantities. Kai" nit is in fair demand, and this is likely to oontinuo during October and November.