COMMERCIAL.

New Zealand Herald, Volume LXI, Issue 18890, 12 December 1924, Page 9

COMMERCIAL.

; 1 . -■■■ WHOLESALE AND RETAIL.

BUSINESS IN FULL SWING-

THE PRODUCE MARKETS.

The wholesale houses are now in the throes of their busiest season, and the utmost activity is being shown in getting all the orders ready for next week, for the-early delivery on next month's account. The custom of closing down during the whole of the Christmas and New Year holidays seems to be now established, and this is further recognised by the Harbour Board deciding not to enforce delivery during that period. The definite break is probably the cause of a good many of the extra orders how coming in, for cannot afford to be caught short of stocks during the holidays, and are therefore ordering heavily. Several useful shipments have recently arrived, and these are filling up stocks in first hands, so that full deliveries will take place in good time for the Christmas rush.

Retailers report a marked improvement in patronage, a growing feature being the selection of useful Christmas presents. It is no longer considered out of place to give as presents such things aB household requisites, bo3ks, and stationery, or articles of attire. The return to the late hour on Fridays has proved a boon to the drapery trade, arid after the wet day on Wednesday the drapers are looking for a great trade this evening.

SUGAR. Householders are enjoying the luxury of being able to obtain ample, supplies of sugar this season, and are keeping a good stock for early commencement of the fruitpreserving season. This is promising very well, and sugar is now so cheap and plentiful that there ought to be much less fruit wasted during the coming summer. Growers are combining to distribute their output bettor, whereas usually there are immense losses of good fruit which the growers are unable to market profitably, and they allow hundreds of tons to rot under the trees. SPICES.

A mail report from Singapore shows that peppers are very firm. Prioes were pushed to an extreme height, and gave way a little, especially in white, but the market soon recovered, as suplies are utill short of European requirements There is a good deal of pepper held in Singapore which may be thrown on the market at any time, and this may keep prices from running away again, as they have recently.

NUTMEGS. Supplies in Singapore are very light, both the Banda crop and the West Indian crop being extremely short. Prices have been pushed very nigh, in order to cover sales, and it is difficult to know what limits will be reached. There are no large stocks of nutmegs in any of the world's markets. MACE. The failure of the Banda and West Indian crops affects this spice also, and prices are extremely high, with indications of a further advance, although there are no reports of short sales to be accounted for. Both nutmegs and mace are only used in small quantities, and for special purpose*. so that consumption is not affected so much; by the high prices as would be the case with other articles of produce. This important consideration suggests that price* will be easily maintained.

Value_ ia a shade higher, although reoent fluctuations really cover a. very narrow range. There has been no marked chancre in the statistical position. although stooks of late have increased somewhat. For the future, however, receipts are not expected to equal those of last year, as fully 75 per cent, of this season's crop has been mar koted. Paint grinders are increasing their operations considerably, and this indicates a. correspondingly large demand for turpentine. RnSIN. American stocks show a tendency to diminish in southern markets, exports recently having been on a more liberal scale. Dcmeetio demand has held up fairly well, but has not improved to the extent that was expected by many. '. JUTE GOODS. - ■ Importers have been ordering very sparingly during a period of exceptionally high pnoes. and stocks are running low Forward Quotations are lower in cornsacks and woolpacks, so that the trade will probably continue on a more even "scale, with regular importations by each direct steamer. Cornsacks are down by Is to Is 6d per dozen and woolpacks by about 6d each. PAINT OILS. Linseed oil is a little lower for forward delivery, but white lead is firmer. A good deal of work is going on this season, as painting was a little in arrears. OATMEAL. All breakfast foods are in reduced demand with the advsnt of warmer weather. Otherwise a general advance in price would probably have taken place, as the oat market is particularly firm. Unless the coming harvest gives a bumper yield, it is expected that even the present high prices will have to rise. POTATOES. The downpour of rain on Wednesday has not interfered with supplies, and the market is so plentifully supplied that the price is a little weaker at 10s Gd ex store. A good deal of digging will take place during the next day or two, in order to avoid second growth during the hot weather. Old potatoes are all sold out. ONIONS. A small shipment by the Niagara practically all sold at once,- and distributors are looking for importations *rom Australia, to supply the market, will be here next week. Reports show tbft the local crop is doing so well that iu "iorne of the early areas there will be a few ready in a week or two, and these will soon afterwards be competing with all importations, as the local crop will be a good one this year, on account of the very favourable season. OATS.

Australian are dragging a little, although they are much cheaper than Canadian, being quoted at 5s to 5s 6d, against Gs to 6s 3d. The whole demand, however, is very light at present, owing to the remarkable growth of grass. . CHAFF. This is supplying the bulk of the hard feed now being used, and regular quantities are arriving from Tasmania. Importers are ordering carefully, as there are clear indications that the oat crop in Marlborough and further south will bo a particularly good one, and this will mean lower prices during tho coming year. Already very favourable prices are coming from Hawke's Bay, where there is a splendid oat harvest, and it will be got in early this season. HAY.

Some farmers just got in their hay on Tuesday night, saving it from the rain on Wednesday, but newly-out hay will not get any damage, provided tho weather keeps fine for tho rest of the week. A very heavy crop is made this year, owing to the abundant rain in' the spring, but casual labour is a difficultj', as it is. only required for a few days, and this may mean that some will not be harvested quite at tho right time. WHEAT.

Fowl wheat is again getting in short compaßß, as the last Bteamer did not bring & full quantity. A shortage of wheat for the coming year ia again in sight, and importation will be necessary. MAIZE. Arrivals are so light that the prico continues firm, one the basis of 6s 6d to 6s 8d on th<- wharf in wholesale lines. Ample quantities could be obtained in Australia, but merchants are reluctant/ to import, as the risk of weevil developing is very great at this season of the year. Very often a sample arrives in an apparently perfectly clean condition, only to 6e found infested a few days afterwards. CHICAGO WHEAT PRICES. Australian and N.< Cab'i'o Association. (Reed. 7.5 p.m.) CHICAGO. Dec. 10. Wheat.—December, 1 dollar Gl 5-8 cants; May, 1 dollar CG 3-8 cents; July, 1 dollar 401 cents. LONDON TALLOW SALES. Australian and N.Z. Cable Association. (Reed. 6.5 p.m.) LONDON. Dec. 10. At the tallow sales 914 casks were offered and 781 sold at 6d advance. Mutton realised 63s 3d to 48s 6d; beef. 53s to 48s 6d. - THE PRICE OF COLD. Australian and N.Z. Cable Association (Reed. 6.5 p.m.) LONDON. Deo. 10. The price of gold to-day is 88s 8d per oz., compared with 88s 5d yesterday. DAIRY PRODUCE IN LONDON. The following cablegram was received yesterday by Joseph Nathan and Company. Ltd.. frcm' their London office:—Butter, 2045; the market is steady. Danish* 286 a: the market is very firm. New Zealand cheese, 945: the market has a better tendency.

• THE NATIONAL BANK. HALF YEARLY DIVIDEND. {by telegbaph.— pbess association.] WELLINGTON, Thursday. 'The general manager of the National Bank of New Zealand, Ltd., to-day received a oat-le message from London, advising that tho_ board of directors had declared an interim dividend for the half-year to September SO, at the rate of 12 per cent, per annum,, which will be paid in the Dominion on January 3. — AUSTRALIAN BUTTER. AN IMPROVED OUTPUT, i (A and N.Z.) MELBOURNE, Deci. }1. If there is a continuance of the present favourable weather this season will eclipse all previous records in butter production and export. From June 30; to November 15, 654,638 boxes of butter were examined by the grading officials, compared' with 252,513 during the corresponding period of the previous year. A total of 524,036 boxes has been sent overseas, against 349,467 i.n 1923. The quality has also shown general improvement, the increased percentage of the highest grade being from 2 to 28 per cent, above that of last year from the principal producing States. LONDON WHEAT MARKET. Australian and N.Z. Cable Association. (Eecd. 5.5 p.m.) LONDON. Deo. 10. Wheat cargoes are firm and in bettor general inquiry. Prices are occasionally higher. Parcels are in fair demand at 6d to 9d up Parcols from unnamed markets in JJecember and January, sold, at 64s 3d; and by ex-Nestor at Liverpool, at 64s 3d. Liverpool futures: December, 12s lid; March. 13s to 13s 6d; May, 13s. - j PROPERTY SALES. William A. Home. Ltd., will offer bv public auction at their auction hall, High Street, to-day, at 1 p.m.. by order of the mortgagee, 50 acres of land, being allotment No. 1. Parish of Maramarua, Laving frontages to tne Maramarua and Whangamarino Rivers. Mr. C. F. Bennott will offer for sale ly punho auction, at hia rooms, New Zealand Insurance Buildings, at 12 o'clock to-day. under conduct of the Registrar of the Supreme Court. the following farm properties:—lßßi acres,*- at Silverdale, with house of 4 ~ rooms and outbuildings; 57 acres at Waipipi. with fiver?omSd dw elling. cowshed, etc.; mixed farm of 259 acres at Tirau, with five-roomed dwelA* .'hree-roomed cottage, and necessary outbuildings;, dairy farm of 811 acres at Aongatete with four-roomed house and outbuildings; mixed farm of 485J acres at Papaicura. of which 4253 acres are leasehold and 10 acres freehold, with four-roomed house an <* outbuildings; mixed farm of 320* acres at .fuhoi with seven-roomed house and necessary outbuildings. Alfred Buckland and Sons, Ltd., will offer ??.'«»»' their Haymarket land salerooms, Albert Street, at 2.30 p.m.. on account of the mortgagees, a farm property of • 277 acres freehold, situated about two miles trom Pfcerata railway station, and four miles from Pukekohe, with up-to-date bungalow residence, and extensive range of outbuildings. The firm will also offer a farm prop--2£ y J>} 473 r r ? 8 fr eehpld, situated within six miles of Kaipara Flats railway station, with residence, of five rooms, and outbuildings. This property will be sold on a deposit of £500. and the balance can remain tot nve years at 0 per cent. T. Mandeno Jackson will offer by public auotion at their rooms, 9. Commerce Street. Auckland, at 11 o'clock this morning, 10 business and residential sites and two dwellings and outbuildings on Glenmore estate, adjoining Papatoetoe station, and fronting atation and Coronation Roads. The range from 1 to 2 acres In the estate of the late Mr. W. May, a house of six rooms, and level section, with 40ft. frontage to Eden Street, Newmarket, will Le offered. Samuel Vaile and Sons, Ltd., will hold an auction sale at their rooms. 83. Qdeen Street, at 2 p.m., to-day. when a number °.r p^o P, e . rtle , B ln the estate of the late Mr. W. Polkinghorne will bo offered. They com?JQ 56 ,-, s . eaßld ? lots and tllree farm areas of ««t 54J. and 57J acres in the Onepu Estate. Arklo s Bay, a residence and 3 acres on the slopes of Mount Albert. Three properties will also be offered at request of the mortgagees ' under conduct of the Registrar of the Court, comprising house in Landscape Koad, Mount Eden. 100 aores unimproved land in Parish of Waitara. and a bungalow in Onslow Road, off Dominion Road.. The New Zealand Loan and Mercantile Agency Company Ltd.. will offer by public auction, to-day. at 2.30 p.m. at their land sale rooms. Lower Albert Street, by order of the mortgagee, a farm of 61 acres, nearly all good, flat' land, with house, 7 rooms and all necoepary outbuildings, situated at Woodhill, half a mile from the railway station; a house of 5 rooms and section of. i-a-cre at East Papakura. close to station and township: bungalow of 5 rooms 2 sleeping porches and conveniences, and 3 acres of land on main road. Papakura about half a mile from the township.