COMMERCIAL.

New Zealand Herald, Volume LXII, Issue 18948, 20 February 1925, Page 7

COMMERCIAL.

WHOLESALE AND RETAIL, BUSINESS BELOW NORMAL. THE PRODUCE MARKETS. Business remains on the quiet side, there being a noticeable reluctance to give the usual patronage to the summer sales now proceeding, while there is even a pronounced falling off in the sale of necessities. How the people are living during their voluntary abstention from ordinary buying is not very apparent, but part of the city reduction in counter trade is no doubt attributable to the large number of families who are still on holiday at the various beaches and other popular resorts. Such a summer as this has never been known before, there being almost an entire absence of children in the streets and in the shops, with a proportionate diminution in the number of mothers selecting their requirements. Tradespeople will be relieved when the health restrictions are released, and if there is any chance of the schools opening during the first week in March there will soon be a rush of shopping that will make up for a slack month. Wholesale business is also disappointing, particularly in the city, the small volume of forward orders clearly reflecting the dull trade in the retail. A little compensation lias been picked up in supplying the numerous small shops that have sprung up near all the pleasure resorts, but m the aggregate these do not amount to much, and there is a natural anxiety as to when business will again bo going; through the ordinary channels in full scale. Some of flu; country districts are sending in good orders, especially where dairying is in full swing, and this activity is justified by the good season experienced. The dairy payments for January supplies, which are being made to-day, will be for a quantity' of butterfat well in excess of that of any previous January, while the remarkable rainfall during the past week will renew the pastures sufficiently to ensure a record production until the end of the season. Reports from the Waikato and Bay of Plenty are very encouraging in this respect, in striking contrast with the experience last year, when the pastures were too far gone to respond readily to the early autumn rains. The sharp recovery in the London market brings butter'up to a level slightly above that of a month ago, while the general strength is indicated "by the fact that Argentine and Danish are both higher than they have been since Christmas. Cheese just maintains the recent small advance, after having fluctuated i within very narrow limits during the past twelve months. EGGS. . market is rising a little earlier than last year, there being a pronounced railing off in supplies. Prospects for an increase do not appear very bright, as the very high price of fowl food will have a tendency to make farmers reduce their nocks. At 2s ;><i wholesale, eggs are very dear for the middle of February, and Easter is two months away, so that there is time for further advances yet. CANNED PEAS. New Zealand packers are unable So fill orders, and there will be a good many imported from Canada and the States this year. Prices are higher for indent. CANNED FRUIT. peaches are lower, thus permitting of import, as t-hoy will readily sell against Australian at present prices. Singapore pineapples are selling well, and are steady in price, with no lower quotation to arrive. DRIED FRUITS. . Sultanas and currants are very dull, there being hardly any inquiry, and prices arc irregular, according to quality and date of delivery, London prices are down, so that■ present stocks can bo replaced to advantage. Importers have been definitely disappointed 1 over South African apricots, as only a j small portion of the orders will be executed, the season was exceptionally bad in South Africa. MATCHES. Plaid vestas are in good supply at a slight reduction. Other shapes are selling well in the country. CORNSACKS. Market is very bare of new sacks, and •IHim are quoted at 22s C,d. The next arrival will bo by the March-April direct steamer at lower prices, due here about the end of May. Second-hand sacks arc in fair demand for chaff, there being much more than the usual quantity required this year, ",n account of the good oat crops in fhe vvaikato and liay of Plenty. HARDWARE. ( Business is quiet, with little .-oiling beyond urgent requirements. Building material is dull, and farmers are not buying much. It is expected that the break in the weather will be a reminder to some districts to get in their supplies of wire next month, before the roads give way for the winter. Importers arc doing more with British and Continental manufacturers now, the marvellous business prosperity in America making their manufacturers rather independent of export trade, and less inclined to meet competition in prices. French and Belgian makers, on the other hand, are keenly competing for all the business they can get. both domestic and export. It is reported that industrial output in France during 1924 showed an appreciable increase in volume over that of 102:). The coal production at about 45,500,000 tons represented an increase of 18 per cent., iron ore at '29,000.000 ions increased 24 per cent., pig iron 42 per cent , and steel V per cent. It, is true that during 1923 the output was interfered with by oven is in the Ruhr, but even then it was not below thai of 1922, It is very evident that French industry is steadily advancing. IRON AND STEEL. | The official report of the London Iron and Steel Exchange states that it is ap- '■ parent that while there is a general belief both at home and abroad that a revival m the iron and steel trade is at hand there is a disposition on the part of buyers and sellers to limit their commitments until the outlook can ho more clearly perceived. In the home market the demand was still ]M,t when the mail left, owing to the New >ear holidays in Scotland, and the fact that a number of English works were busv stock-taking. On the other hand, there had been a if air inquiry circulated, and in several districts pig iron producers were well off for orders for January and February. Fhe semi-finished department, however. was still inactive, and the call for finished material* was quiet, although there i had been a fair business passing with some ! colonies, Glasgow reported that sheet, rol- ( ters, particularly eight gauge, had plenty of work on hand, and the outlook for heavy grades also appeared more promising. TINPLATES. . American competition with Wales is making itself felt very severely, and it is felt -n 18 ,0 maintain its export trade there will ie quire to be more economy m production. American makers enioy the advantage of fuel costing only half the prico ! tiling in Vales, and also have the advantage of mass production, combined with more scientific, manufacture. The opinion is held in America that the. future of the Welsh tinplate industry depends not upon stabilisation of prices and the attempted elimination of merchants, but, upon better and cheaper production. Tho recent rise in tin in the face of adverse statistics, appears to T<? v n r n , <l "° .mainly to tbo influence of Wall Street price movements upon sentiment in London, and although these may reflect hopes of improving industrial conditions m America, they can hardly be regarded as a very concrete evidence of any immediate expansion in the consumption of tm. COPPER. All the markets recently appear to have been more or less under the influence of the tone in the American stock markets, and whatever the intrinsic merits of the metal may bn„ values are liable to show instability. Copper prices in New York have been rather firmer again lately, hut a rather uncertain tone has characterised the American market for electro. The margin between electro and standard is not very wide, and as there is nearly 36,000 tons of rough copper in warehouse in England, there is not much justification for a rise in standard unless electro leads the way. The Tanganyika output for 1924 was 85,600 tons, compared with 57,800 the previous year, 43,300 in 1922, and 30,400 in 1921. POTATOES. Supplies in the vicinity of Auckland appear to bo about, depleted, but merchants are now going further afield, and a good many have been drawn from, Marion and Masterton lately. Waikato will also have supplies to spare during the nest 'few weeks, after which Canterbury will begin to ship regularly. Price is firm at 10s to 10$ fid ex storo. ONIONS. Market is firm at late rates, and there seems no prospect of a rise. A little went away in the Makura on Tuesday, and there are a few orders to follow, but stocks will about last until the Canterbury crop is available, next month, and merchants are selling froely at 10s to 10s 6d ex store. OATS. Auckland merchants have no faith in the strong feeling in the South, and are selling whit© feed at 5s Sd ex store. There is no famine in stocks, but (he prico _ is held steady by fairly regular buying in small Jots.

SEED OATS. Demand is coming in better for Algeria-n seed at 6s 9d ex store, and it is expected that the rain this week will brins on mora a,ctive planting. CHAFF. Market is weak, with plenty offering from Waikato and neighbouring districts. Qualities vary considerably, but price for ft fair sample is based on £1 to £7 5s at country stations. Australia 13 supplying most of the immediate small demand at 10s ex storo. HAY. Large quantities are available, but no sales of any consequence are taking place, and farmers a.re holding for the winter. WHEAT. Supplies are arriving from Australia, and buyers seem inclined to stock up. in view of the rising tendency in the market. iNot much business is doing yet in Southern, Australian being so far more readily available. ' BEAN AND POLLARD. Both are scarce, and the position is likely to bo -accentuated during the winter. At present the supplies of green feed are so plentiful as not to make the scarcity lelt. MAIZE, Market is firm at 7s Id on the wharf in wholesale lines, and any arriving is picked up at once. Shipments are close at hand from Australia and South Africa, but as winter is approaching theso will bo reaciiij absorbed, by the extra demand. SEEDS. All good seeds are Jkm, and fair orders are already moving off. It is thought that the rain this week will effectively stop any prospect of tbo swamp fires that , were expected to bring in a demand for, grass seed, and it may also hinder tie burning of bu« l clearings, but there is still time ftr in latter, if there should follow a week or t of fine weather. In the meantime the immediate effect of the ram has been good, and pastures aro in splendid order, while fodder crops aro doing particularly WelL FERTILISERS. A good demand continues for all kinds, and 'the local manufacturers are turning out immense quantities. Basic sl&f? , ing well on arrival of eafch shipment, and the market is a little firmer. AUSTRALIAN FLOUR, REDUCTION TO £l4 10s. According to cabled advice rec fl c Ai^fl- - merchant yesterday, flour is n quoted at £l4 10s a ten, f.o.b.,Mght droit, Sydney. This quotation is JOs to below the previous cabled report. MELBOURNE PRICE £ls 12s 6d. Australian and N.Z, Cable Association. (Reed. 10.55 p.m.). MELBOURNE, Feb. 19. The prico of flour in Melbourne has been reduced 2s 6d, to £ls 123 6d per ton. , NAPIER WOOL SALE. OFFICIAL RANGE OF PRICES. [by telegraph, —press association.] NAPIER, Thursday. The official range of prices realised at yesterday's sales was as follows:-—Merino, ml,, Corriedale, up to 24-Jd; Southdown, Lom 23d to 23Jd; 50-56's halfbreds, average, ~6d to 29d; inferior 23d to 24|d; 48-o0 s, coarser half bred, super, 25d to 27d; average, 21 d to 241 d; inferior, 16d to 19d; 46-48 s, fane crossbred, super, 23d to 2Sd; average, 18Jd to 22d i inferior, 15d to 17d; 44-46 8, medium crossbred, super, 21. Id to 23-d; average, l<d to 20d; inferior. 13d to laid; 40-44's. coarse crossbred, super, 19d to 22d- average ltd to 181 d; inferior, 12Jd to 14jd; .{6-40 s, low crossbred, super, nil; average, laid to 17id; inferior, i"2d to ltd; hoggets, 50-56 s.mj. 48-50's, 22d to 24d; 40-48 s, 21 dto 23!<j; 44-46's, 181 dto 20d; 40-44's, 15d to 18Jd; (iS-40's, nil. , , IC , Lambs.—44-58's, 23d to 251 d; 40-1-1 s. ISd to 21d; seedy and inferior. 8d to 13d. Keck Pieces, 18d to 21 id; pieces, good to super. 15 jd to 18jd; medium to good, lad to 14id; inferior and seedy, 9d to. lid; bellies, sood'to super, 134t0 medium to good, 10<d to 121 d; inferior and seedy, 8d to IOd; crutellings, goad to super, 13d to Hid; medium to good, lid to 12|d; inferior, bid to iOd; locks, crossbred, 7d to 9d. TE KUITI SHEEP FAIR. AN " IN-AND-OUT " SALE. [BY TELEGRAPH. —OWN CORRESPONDENT.] TE KUITI, Thursday. What was probably the largest number of sheep over gathered a.t Te luiiti filled tbo Kaleyards yesterday at the Te Kmti sheep fair the estimated yarding being 20,000. Thero was a largo attendance. Prices were on the. wholo about 3s lower than.late rates. Notwithstanding this, the majority of the vendors mot tho market, and generally urged ii, clearance. Some- of the entry was passed in, but most were sold. Th? fair was what is known technically as an "in-and-out Hale, i and it; was not possible to gain any reliable idea ss to the future movement of the market. Prices were:— Two-year ewes, beat, Hbs to ,Tbs; smaller, two-tooths, 32b to 355; 4 and 6-tooths, 33s 1o 37s Gd; 4-year ewea, oxtra good, 31s 34s fid - 4 and 5-year ewes, good. 26s to 275; medium condition, 24s 6d to 25s fid; poorer, 22a to 23s Sd; aged ewes, 18s to 235; 2-tooth wethers. 29s to 325. »■ Lambs, best, 19s to 22s- Rood. IBs to ISs Gd; small and weedy, from 10s upwards. MASTERTON RAM FAIR. GOOD PRICES YESTERDAY. [BY TELEGRAPH. —PRESS ASSOCIATION.] MASTERTON. Thursday. Tho annual Masterton ram fair opened today There was a large and representative attendance of buyers, and despite a heavy entry values appreciated on those of last year'for flock sheep. Flock and stud Romneys were offered today the former realising up to 26 guineas. 'Good quality stock was eagerly competed for in this section. Studs showing typo and quality met with a ready sale, though it was sjgnificent that the bulk of the. higherpriced sheep remained in tho district, the fop price of 255 guineas was paid by Mr. William Rayner, Masterton. tor a shearling offered on account of Mr. Percy Southoy, a local breeder. This was a full brother to ono which, when offered by Mr. Southoy two years ago, realised 340 guineas. Another full brother offered to-day realised only 40 guineas. CHICAGO WHEAT MARKET. Australian and N.Z. Cable Association. (Reed. 7.5 P.m.) CHICAGO, Feb. 18. Wheat.—May, 1 dollar 855 cents; July, 1 dollar 55 7-8 cents; September, 1 dollar 43 7-8 cents. THE PRICE OF GOLD. Australian and N.Z. Cable Association. (Reed, 5.5 p.m.) LOiSDOIN, Feb. 18. Gold is quoted to-day at 86a lid per oz,, compared with 86s lOd on Monday. TALLOW SALE ABANDONED. A. and N.Z. LONDON, Feb. 18. Thero beiiiß no demand for tallow, tho sale will not be held this week. PROPERTY SALES. William A. Home, Ltd., will offer by public auction at their auction hall, High Street, to-day, at I p.m., under conduct of the Registrar of the Supreme Court a dairy farm of 55 acres, with two-roomed house and outbuildings, situated six miles from Taiheke post office. , ... „. .. . ... .. Samuel Vaile and Hons. Limited, will sell by public auction at their rooms, 83. Queen Street, at 2 p.m. today, the following .prop, erties: Section. Queen Street; Northcote: Bungalow, 6 rooms, No. 10, Tahora Avenue, Remuera; property at No. 21., Mary Street, Mount Eden. _ , , , Mr (*• F. Bennett will ofEor for sale by public auction at his rooms, New Zealand Insurance Buildings, at noon to-day, No. 40, Amey Road, » house of 7 rooms, on a freehold section, having a- frontage of 100 ft. to Arney Road by a depth of 178 ft. The Now Zealand Loan and Mercantile Agency Company, Limited, reports tho salo of ten building sections by public auction at Pfcpalcnra "on Wednesday, on account of the Papakura Town Board. Tho prices ranged from £3O to .£'6l each. The company will sell by auction at their land sale rooms, Lower Albert Street, at 2.30 p.m. .to-day, on account of Mr. Edward Smyth,, his farm of 288 acres at Waitakere consisting of about 100 acres rough feed, and about 300,000 ft. kauri, totarn, and rimu timber, and house of four rooms.