COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18534, 19 October 1923, Page 5

COMMERCIAL.

WHOLESALE AND RETAIL.

CONDITIONS RATHEE ■ QUIET.

THE PRODUCE MARKETS.

Business for the week has been rajther disappointing .in most departments, the advance of tho season not yet having brought about the improvement that was expected. It is thought that the evident hesitancy in buying is merely duo to tho rather unfavourable early spring, which followed a bad winter, and that trade will resume its normal flow as soon as tho dairying returns begin to circulate in quantity. Commercial travellers report a hopeful tone in most of the country districts with regard to the future, but that at present most buyers are' operating very cautiously, and are not unduly increasing their commitments. Until the ' returns for tho new season's produce are more substantial than they have been for the past six months, a fairly slack turnover is only natural. "

Stocks in general are rather heavy in the aggregate, considering the interruption to shipping with London, and . distributors would welcome an improvement in turnover, to movo off a larger proportion of those delayed shipments, which are now beginning to arrive. Included are several lines coming to a bare market, and these are, swelling the otherwise small turnover. , The Building Trade. The building trade is the brightest spot juat» now. Owners are not waiting for the improvement in . trade which is confidently expected in the near future, but have already made their arrangements in anticipation, the result being a great increase in warehouse and office building, as well as suburban residences and shops. Besides keeping tho mills busy, this activity is reflected in the hardware trade, which is very active in building lines. The market is in a peculiar state, and importers are in doubt as to how it will move when the Ruhr difficulty is settled. In the meantime, Franco is strongly competing for world trade, but if the Ruhr is again opened there may be still more competition from German manufacturers. On the other hand, British manufacturers look forward to this causing a reduction in the cost of coal, which may bo set against the pressure of keener competition. London l'erorts indicate spasmodic ordering, bys in the aggregate there are orders v/.'jich i.eep prices fairly firm In iron and steel, r?.'olu«ins immense - requisitions from India,. Drapery has hardly been getting;, the benefit of the spring trade that wan expected, "but this is generally : attributed to the erratic market. A fine day iiko yesterday immediately improves th*< omv ..on, but large quantities of British ,~m i -•'■'■.*' re now landing, and the drapers are iook'/j>v forward to the more delivito advVv;, of spring i weather, to 'enable them to di'aplay their waves with results.

Few Charge;» in Groceries. Grocery houses report few chansfs. Dried fruits are probably receiving the most anxious attention . just now, on account of the low prices for tho new season's crop, which competing producers are offering. Besides the keen quotations from the old sources, California t and the Mediterranean, which are more .favourable in some lines than Australian, i* .further interesting line has opened up from South Africa, fruits from that source are usunlly of satisfactory quality, and this year they are again up to the mark. Canned fruits pre also down to low prices, and ev<&n then there is doubt whether there is jartflb n*cd for imported when a h'eavy crop is # if-zsected locally. This will be preserved in much larger quantities than usual during the coming season, on account oi sugar being again plentiful, and importers are meeting this by indenting glass jars _ in full Quantity. So far these have sold well. Hams and bacon are causing some anxiety. Prices are steadily advancing, owing to export orders operating on a fiimimsbed supply, and the market will undoubtedly be bare before Christmas. Cheese is selling well at the advanced price _ brought about by tho recent rise in Lonaon. and eggis are unchanged and' in improved demand. Large quantities are now being presir-v«d, as they. will not again bo more plentiful this season than thfey are now. The Rotorua shipment has not appreciably offer.ted the 10-M polling price, as it practically conai-- of what would otherwise have been pi jrved. Potato Market Dull.

Potatoes.— is dull in old potatoes, on account of the steady increase m tho supply of new, and these are improving each week in quality. Selling at about 3d to 3jd retail, they meet a fair demand already, and are not very much dearer than old by the time they get on tho table. Merchants are taking this into account by importing very carefully from Canterbuw, and for the remaining two or three wee«ts that there-will be a steadily diminishing salo for .old potatoes the shipments . will be very small. Canterbury merchants are disappointed with the orders received, and have been recently shipping here on consignment, but this will only make local merchants' orders still less. In the meantime, the price ex store is about lis 6d for white and 10s 6d for red. • # ■. Seed Potatoes. small demand continues, but only for the main crop varieties. Onions.Australian are selling at lis Cd upwards, according to quality, ; but most samples require repacking, and it will not be very long 'before importation will have to bo abandoned for the season. Very few American are held in stock, but more are expected about the end of the month. Oats.—Steady at 4s 6d ex store for small lines of B grade, and the future depends on Australia. Rccont visitors to Australia who have just returned report that in New South Wales tho country is as bare as _ a table for, miles, even in , tho coastal districts, and further inland it is stated to be worse. In Queensland it is just as bad in some parts, and this may result in. a hardening of fodder prices. Against this, however, there are floods in Victoria and South Australia, and these conditions may result in such enormous crops that no supplies from New Zealand t will be required

Chaff from Australia. Chaff.—ln the meantime, Australian chaff is regularly arriving here, and this confirms the view that the orders for oats are only speculative, in case the drought, continues, whereas for the present there are ample stocks on the other side. Australian chaff is selling at 10s ex store, and Marlborough at lis. It is reported from Blenheim that stocks are getting rather low, but Australian importations into the consuming centres slop any chance of a rise in price. Local chaff is. dull in tbe city, but a'little is changing hnnds inland, based on £7 10s at country stations. Wheat.—Steady at 7s 3d ex store, and in improved demand. Flour.— supplies are available, and the demand keeps normal, with no change in prices.' Bran.— steady stream from Australia continues, and this is quoted at 9s Gd 'ex store. Importers are expecting the demr.hrj to free off at snv time now. Pollard.ln full sur>ply. . Linseed.Selling well, with the usual extra demand that comes in wi*..i the beginning of each dairy season. Qut.ation is 23s 6d ex store. ■ •■.'.' » Bnrley.—Dull of sale.. Maize.—A good deal is arriving from the coast, and the price is rather weak at in 9d on the wharf in wholesale lines. The requirements will bo limited until the Smith African is sold. ' Spe^s.—A little inquiry continues for grass and clover seeds, while lawn grass seed is also in demand. In field seeds there is a sustained demand for maize, mangels, soft turnips, rap*, and millet, but swedes are not vet selling much. •' Next month will see the great demand for swedes, and it is expected that a good area will be put in. ■

SUGAR OF MILK AND CASEIN CO. The- annual report of the ■ New Zealand Sugar of Milk and Casein Company states thai; the output for the year of 300 tons shows an increase of 17 tons over last year, and that satisfactory arrangements have been made for disposal of the coming season's output. The not profit for the year amounts to £1098 2a 6d. after writing down .contracts and patent rights, making provision for income tax and the dairy company's profit ■ of £168 12s 9d. This, with the balance from yast year of £1571 7 a makes, a total of ■ £2669 9s 6d, out of which the directors recommend a dividend of 8 per cent, be declared, absorbing £2000 and leaving £669 ,9s 6d to be carried forward '„££s■ company's net profits in 1920-21 were £2652. and in : 1921-22 £3808. a dividend of 10, per cent., amounting to £2500 beinc paid in each year. *«ouu. " ein ß

LONDON TALLOW SALES. Australian and ',■ N.Z. Cable Association ';- (Reed. 9.30 p.m.) /■■■"■■■■; LONDON.. Oct. 17At the tallow Bales 1137 casks were offered, and 156 sold at sixpence deeline. Prices were as follow: —Mutton, fine 42a 9d, medium 88s 6d; beef, fine 42s 6d. medium. 88s 6d. : '' :.■/■'■".-\- -;;';;'-'■■ .■.;.;,;•' '.;• }i- : 'fM'l^-l: ■Dalscfy and Company, (Ltd.." are in receipt of the following cablegram from their London office under date October 17: Tallow.—Offered ,1135 casks, sold 135; average , nominally 6d lower. • LONDON WHEAT MARKET. Australian and N.Z."" Cable Association. (Reed. 9.50 p.m.) ' " LONDON, Oct. 17. Wheat cargoes are quiet and irregular, there being no buyers. Parcels are in poor request at 3d decline. ,- .■:', _.,", AUSTRALIAN PRODUCE. Australian and N.Z. \ Cable Association. (Reed. 9.30 p.m.) SYDNEY. Oct. 18. Oats.—Algerian, feed. Tasmiinian, 4s Gd to 4s 8d; white, 4s Gd to 4s Bd. ' .. Maize.—Local, yellow. 5s Gd: white, 5s 3d; South African;- 5s 9d. ~ Potatoes.—Tasmanian, . £18. . , Onions.Victorian, £7. ADELAIDE. 0ct.,18. Oats, 3s to 3s 2d. PROPERTY SALES. '..,'.' William A. Home, Ltd., will offer by auction, at their auction hall. High Street, today, at 1 p.m., a farm of 175 acres at Paparimu; two sections at Third Avenue, Kingsland, 40: ft. frontage by 150 ft. approximately deep; house of 6 rooms and conveniences, outbuildings, etc.. eecvion with frontage of 43ft. to Vermont Street and a depth of 297 ft. more or less ,-. '■■ " -~ -■'.. -.; Tho Now Zoaland Loan and Mercantile Agency Company, Ltd.. will offer for ale by auction at their land salerooms, Albert Street, at 2.30 p.m. to-day. the following properties: acres near Manurewa, with six-roomed house and outbuildings; ■ the goodwill of a flection, 127 ft. by 200 ft.. near the Royal Oak; arid a four-Toonnsd seaside cottage at Takapuna. ' Samuel Vaile and Sons. Ltd., will offer for sale by public auction, at their rooms, 83, Queen Street, at 2 p.m.. today, a bungalow of 6 room*?>': with one-third acre of land up to two s.nd a-quarter acres, fronting the Great South Road. Papatoe-toe; tho Leabank Estate, Man arewi divided into 42 farmlets and home sites, ranging in area from two to twenty acres, and, at the request of the mortgagee, under conduct of the Registrar of the Court, a semi-bungalow of 7 rooms, at No. 46. Bassett Road, Remuera. ■-•" - ~- -. = : ' : ' :•".-,';