COMMERCIAL.

New Zealand Herald, Volume LXI, Issue 18664, 21 March 1924, Page 7

COMMERCIAL.

WHOLESALE AND RETAIL.

MODERATE BUSINESS.

THE PRODUCE MARKETS.

Wholesale business is feeling the effect I of the usual caution that is always shown at the approach of March 31. Bankbalancing has not now the significance that it had in earlier years, but there is still a tendency, even in large businesses, where it might be expected to make no real difference to their position, to indulge in what is commonly known in financial circles as "window-dressing.'' Careful buying in view of stock-taking is probably an even greater factor in restricting business this month, but orders are already being booked on April account, not for the usual delivery next week for forward invoicing, but for delayed delivery after the turn of tho month. So far these are not of large dimensions, and altogether the wholesale trade is rather quiet, except for seasonable goods and for delivery of recent arrivals ex ship. and rtZ wh Ranches of the trade, oSportunifv i and , drapers re taJdn S the opportunity to r make a particularly attractive display of autumn and winter goods hem e tW PeCt ft \ been «nfo?tunatefor a fe f£ Smer has returne d again, that w^t^K en - Wea ther of last We <*> Toon «! ,yinß L, 1 . 8 mb by «* meana Son if& fil Pubh -° e?Ce P* in anticipain LfJ™ f hi ? r . i ? nces which must come in before long. With the steady rise in the SlffA i e^ V3A advance is «• l( l",f y futur , "notations, as well as in locally manufactured goods. In the chStTh a ?l r mediate * advance 5 firm, illJ tbe >rge stocks that many tirms hold, and that they would be glad I Sr«ff further at prices basel «

Groceries and Tea, «u?ar OC a^ eSPrin^Dal Merest centra in & & iTet »g o r^Js uojiie a.Di6 to get plenty of, sugar at a. m«lj America™^ 8 ??* * is ?^^MT*icixS°f n about & ner : St" Thf. *?■ r * fined being large mfasn™ £ Iv, T^la la attributed in due to the TTr,i?^ tll |r- aavaEce J ra-w BV **- buv»r ,•« hlJluted Kingdom being a heavy buyer m the markets of Trinidad the Rim price off a wT arft , r , a -.v Thia has out ud th. f£ r^ a " ft " BSUS; S2& on American account, where an™£ creased .consumption is expected this year Stocks m London at the beginning of the year were about equal to tfioaf of I year IJJtat were well below the level of 1922 ?« as sSrir™ 4 for *• Btcady buyine m?^' - ; 1 !?* 1 Mender* are a little »nxSSSdSff'Jte ««K The world's vis* of; M ASL**? beginning of the year TfinoflXi . 4.*X),000 bags, compared with 7.800.000 a year before and 9.400 000 two to J fimiS ».rk« uTYd«r *Mk * P re Bent »ost quotations are under the replacement valnes. The Bice Market. TiM« C V E *^ rtß i from Rental sources conS *<>. indicate , a shortage in crocs Europe has been a heavy buyer, with Japan D anf& * D £ rC^ « her Purchases, D ric? mlt ( .r^3?«S Una *' ft**?* sports indicate a Slfrf in the , lndia cro ? *bw wag est mat* «f V 6 \ eeks u a .*°- the Dre « e a* estimate of the shortage being over 3.000,000 i- Auckland stocks of rice are about noraal. with. demand well maintained *V™ n Rlce -~ owket report by mail from Rangoon states that the tendency has te M TC rfß Ia^ the *<"»«» 1 Government forecast the Quantity available for export OW SS .further reduced to 1.850.000 tons, nil ™ P u „w»«t>eallT all exhausted. Ship: pers generally are open to buy forward for Saigon Rice.—The market closed weak in' •»% with the gradual S fr *,, marka -k T ° nly a small 'business lateAhSn d^ 6 x with Japan for shipment not tfi tt V " firßt half of Mar*, in order that of e the e i3u Rrv ? th ?« Before the expiry If «» e »j lmport dut decree. The arrivals m.^ dy ,*»«, sufficient to meet requirements, and .as favourable weather was prevailmg during the harvesting the quality was turning out good. I&ttana.—Cabled quotations disclose the usual advances and declines, but. on the whole, rattans are firmer. Darin* the oast three or four months values of most grades ,v It T^ d 7 a w ed, i , an 4 * sieady improvement is expected for the future. Peanuts.— quotations are higher xne crop has been poor this year, and owing to a great demand from the TJnited State* the market is very strong. :■. ■' Canary Seed.— advances have taken place in overseas quotations. As a matter ■of fact- it is now very difficult to obtain supplies from any of the producing countries. Beans.—New season's haricots are selling well, for forward delivery, and are good buying at present prices. Madagascar beans (Limas) are very dear, and it looks as if only a small quantity will be imported this year. . Carrawaya.— from Holland show that stocks are nearing exhaustion, and as the next crop will not arrive here till the end of the year, it is expected that prices will advance. Kapok.—lt is considered that the market has touched bottom, as American buyers are operating. It looks as if it is advisable to cover for requirements. Cloves.The -crop was very small this year, and as the next crop will not be available till about November prices are likely to be higher in the near future. Ginger. the Indian and Japanese markets have advanced considerably, and prices are now higher than they have been for a long time, with no prospect of a reduction this year. .-■. Peppers.After, being cheap for a long time, pepper prices are moving up, and appear likely to go higher. Canned Fish, Eggs and Butter. Canned Pish.— Lenten demand attracts a little more attention to stocks in hand. Salmon is* sailing fairly well. All grades are firm in price except Sockeye, Apparently stocks of this grade are heavy on the other aide, and packers are not disposed to further, restrict the sale by lifting their quotation. Sardines are selling well. Halves of Sild are in short supply, and are advanced about 4s per case. Norwegian sardines were a good catch this year, and a substantial reduction would probably have taken place, but for the high cost of olive oil and tinplates. Last year a very poor catch was secured, and some contracts that were taken subject to pack were never filled. Eggs.—A slight advance has again taken place during the week, and retailers are now quoting 2s 9d. In connection with the shipments of eggs to London last year, which were considered by the High Commissioner and the Prime Minister of New Zealand as of sufficient importance to warrant a celebration . luncheon arranged by the former, at which the movement was described as the opening up of another primary industry, it hns been pointed out that in the Abstract of Statistics the trade is not even recorded, whereas there is a special heading -to record eggs imported to the value of £6 during the month of November. Shippers are anxious to have the export trade fully recorded, as being of far, more value to the Dominion than the. few eggs that happen to be imported during the breeding season. Butter. feature in the market is the remarkable difference of 42s per cwt between New Zealand and Danish butter. Such a thing has never happened before, nominal difference being about 2s to 8s per cwt. This alarming difference is attributed on the one hand to reduced supplies from Denmark on account of heavy, purchases for Germany, enabling top prices to be obtained for the little that has gone . across to England. On the other hand New Zealand butter has been depressed by the large supplies thrown on the market after the strike, just at a time when the summer rains in Australia caused large quantities to arrive from that quarter, which were often sold at 20s under New Zealand rates. A private cablegram from London yesterday shows the market for New Zealand butter very dull, and another fall of 20s to 30s per cwt is expected. , Dairy Supplies.—The recent rain has completely altered the position, and in some cases the milk supply is almost back to the flush. On many farms, however, it was too late to do more than stop a further fall in the production. \

Potatoes and Onions. Potatoes. Supplies are equal to the demand for good quality, but a lot of poor grade are ahou' and these have rather demoralised the market. Best are selling at about lis ex store, but Pukekohe supplies are nearly exhausted, and fc\\e market will be quite ready for the Australian potatoes, which will be here by the Katoa in a day or two. For the future it would appear that supplies will tje drawn , from... ■ .Melbourne, ■ and also from Canterbury after Arril, so 1 that there, should be plenty available at a reasonable rate. Merchants do not expect that the Government will accede to the request of the Canterbury growers to put on an extra duty of £3 per ton. Onions.— Rather scarce,■owing.' to .the delay in the arrival of the March purchases from Canterbury, and the price is 13s. There

will be plenty "when the Katoa arrives. Oats.—'xhe last tsuipment sold at once, and anotner should bo note in 10 days, ire-; sent quotation la to, 3d ex stole, and it is not expected there will be- any neayy supplies nere until the Niagara returns at tne end of April, bringing Canadian oats. Chan. — la , a good demand, lor Canterbury, tuenlieim and iiawice's Bay cnan at 11a 6d to las, while Australian, us__ also selling ex store, and to arrive by the Katoa. Wheat.—.frice has been stabilised by Government importations to Auckland, which are selling at controlled rates. Bran and Pollard.—A movement was initiated yesterday which is expected to result in the embargo on importation and also the duty being lifted. This will not reduce the price, but will merely result in importation taking place at a cost that will sell the Australian at the same price as local. ~ , , Maize.— sales are taking .place, for which adequate supplies are arriving. Quotation is 6s 5d on the wharf, in wholesale ■ lines. , ■' it , , Seeds.Farmers have had the beat. burning weather for several years, and this has enabled them to clear scrub and swamps that have been delayed for a long time. This is so marked a feature that several farmers have increased their seed orders by 6(1. per cent. Perfectly growing weather has given a good catch to early-sown areas, and they are already looking well after the warm rain. " "'. ; Fertilisers.—Basic slag and super are in keen demand, and the former has been delivered this week in large quantities from the lonic, while the next three shipments to arrive are praoticaily all sold. Local manufacturers report a good demand for super, while all potash manures are selling well. It is "reported that a shipment of Walpole guano, SO to 60 per 'cent, tricalcio phosphate, will bo here about the end of April, and. this is expected to sell ex ship at about £5. Blood and bone is a trifle firmer. Local bonedust is largely absorbed for special mixtures, and attention is given to imported for direct use. A factory in Australia has been destroyed by fire, and this is expected to limit supplies for New Zealand, especially as the sugar refineries are using large quantities, and it is expected that any supplies obtainable will be at an advance of 10s to 15s per ton. Calcutta bonedust is in short supply at £12 ex store, but a shipment, due late in April, is being quoted at about £11 10s ex ship.