COMMERCIAL.

New Zealand Herald, Volume LXIII, Issue 19254, 17 February 1926, Page 9

COMMERCIAL.

WHOLESALE AND RETAIL.

LOCAL TRADE CONDITIONS. THE PRODUCE MARKETSWholesale booking for next month's account could not have commenced under more favourable conditions, so far as the country districts are affected by the weather. Settlers and storekeepers are much more hopeful after the copious rain of the past four weeks, and commercial travellers report a liberal response to their quotations. Retailers report that the late night on Friday was very successful, as a result of the noticeable improvement in the weather, and this week the summer clearance sales are attracting very active business, there being an exceptionally large number of buyers in the city. Counter trade is better than it has been at any time since Christmas.

The clothing trade has been somewhat held back by the virtual cessation, of sales of sporting goods during the cold weather, but the conditions this week are causing a resumption in this trade. General clothing trade has kept very even, values being sufficiently attractive to induce good business. Values show little change, beyond a slight reduction on quotations of a year ago. This is explained by the fact that the sharp rise in wool at the close of 1924 was of such short duration that manufacturers did not appreciably raise their prices, and very few purchases were made on the basis of the temporary high price of wool. It, therefore, appears that manufacturers have practically stood the loss on the fall in wool which took place during the first few months of 1925. RUBBER. American consumers have continued their policy of abstention from buying, but it is thought that they are none too well covered. and will have to buy again soon, but it, is hardly to be expected that they would purchase much on a falling market. United Kingdom imports of rubber during 1925 were, about 20 per cent., above those of the previous year LEAD. Consuming demand has been artiet. with buyers showing little or no interest, as thev ore mostly covered for forward requirements. Heavy arrivals in London and increasing stocks have been the prominent features influencing; quotations, but now that prices are at a reasonable level there is naturally greater resistance to further declines. It. does not seem likely that there will bo any lacl; of supplies for some time, for with easier conditions in America, an increase in exports may take place, while with the Continent taking only very moderate quantities. thgre is a' larger proportion of the supplies from other quarters available for; the British market. Really important buying probably, however, be followed by higher ibices, if only for a time. Importations into Britain for the year were about 15 per cent, above those of 1924, while the exports fell oS by 20 per cent. RICE. . Indications are that new season's rice will cnst more than last season's crop, on account of restricted output in some quarters. Last season the market advances warranted an increase selling price almost immediately after the opening prices; were named, but contrary to expectations the Australian millers allowed prices to remain unaltered. There a;re no indications at present of any alteration in the policy of the Australian millers, bo that present ruling prices may be expected to continue. GINGER. Reductions totalling in all nearly three' farthings per lb., have been advised in the imported product, which is now slightly cheaper in price than the locally manufactured ginger. PEARL BARLEY. A reduction of 103 per ton takes effect on all new shipments from the South, and local wholesale quotations will reflect'this fall almost immediately. ... AUSTRALIAN" DRIED FRUITS. ■ The harvesting of the ourrant crop commences about this time in Australia, and from cabled reports it would appear that the prospects of a good crop are bright, and quality should be well up to previous standards. Sultana, crops are not heavy, but it is likely that plenty of stocks will be available. Quality is reported to be excellent. ' , NUTS. Considerable forward indent business has already been done for next season's requirements, particularly in Brazils, and though in previous year," \ie opening prices have always been lowc% than subsequent quotations vet this yeSy slight reductions have since been advised. Brazil nuts are very plentiful in export markets, and this may have the effect of further_ reducing prices. Barcelonas show a reduction of about per ton, but Sicily almonds have increased by a like amount, so that the position as a whole is a little difficult. DATES., . , Spot stocks are moving freely at favourable prices, the; demand for loose pack being most prominent. IndtJnt ouotatinng sixvw variations according to' quality, but remain practically unaltered ou the whole. A shipment of XOoz. cartons of Mesopotamian packed table dates should arrive in the next few weeks, and ii' quality in up to the usual standard this particular package should prove a ready seller, on account of the low price.. ASPARAGUS. Opening prices are now named, and show alterations in price for some packs, but the general' price level is not materially altered. Little interest is being shown, on account of fairly heavy stocks held, and the strictly limited demand for this commodity., EGGS. A. further .advance liao takon place, and retailers are asking 2s 6d to 2s 8d for fresh eggs, with chilled at about 2s. Wholesale quotations vary from _2s 4d to 2s 6d, but there is every indication of a _ further rise during the week. It is explained that in addition to a more noticeable decrease m the supply the demand _is increased by the return of so many families from the beaches and other holiday resorts, thus creating a fresh demand, after a long period during which the demand from this section of the community had been almost disappeared. POTATOES. Large quantities are coining in, and it looks as if the second crop is going to turn out well, as the weather has recently been particularly favourable to a good growth. This is rather an unexpected development, and it may mean that, Auckland will be independent of Sotvthern supplies for a longer period than usual this year. The quality is very good, there being an absence of blight, and the quotation is 9s to 9s Cd ex store. ONIONS. Continued rain has prevented the ripening of the crop in good order, so that although large quantities are coming in there is a reluctance to purchase heavily. Price this week is £1 at Pukekohe, or 9s ex Auckland store, but it is unlikely that any export will take place to Australia, attracted by the quotation of £ls there, for no merchants would -risk the present quality. The only present interest in the Sydney price is that as soon as the local quality has improved sufficiently to permit of export, any orders for shipment to Honolulu will come to Auckland, and not to Australia. • All that is wanted now ie a continuation of the present dry weather, which will soon make the, quality satisfactory. OATS.

Canadian importations are supplying requirement!?, find no interest is taken in the market, pending 'the arrival of the new season's harvest in Southland. This is so small that further importation during the year seems to be a certainty. Quotation is 5a 9d ex store in small lots. CHAFF. AH Southern quotations are firm and merchants are holding of! until larger Quantities of Southern are available. FOWL, WHEAT. The' market is easier in Australia, and this trill permit of importation. Merchants are only waiting until _ it is definitely settled whether the duty is to be remitted, but in any case orders will have to go forward before long, as stocks are rapidly becoming exhausted. and Australian quality 13 at present superior to Southern. BRAN AND POLLARD. Demand is eteadilv increasing, and it looks as i if stocks will soon, bo short, as no importation is taking p'lace at present. MAIZE Importations of South Africa*! maize from Australia are keeping merchants independent of Bay of Plenty grain, for which the price remains steady at 7s on the wharf in wholssale lines. FLAX. A London report by the last mail states that the tope of the hemp markets during December was in general, inactive dull, and the' volume of business done was (substantially smaller than in. the picoedinn month. Demand, such, as it wm, ran on

hard-flbred hemps, wniie soft-fibred descriptions continued to be neglected, and in certain cases declined in price. East India hemps in particular suffered from the absence of inquiry, as speculation during the jute boom in October bad forced up prices for them considerably beyond their relative value, and they are only now coming back to a more reasonable level. A review of the past year's business leaves little room for satisfaction to any section of the hemp trade. It may be said that, from beginning to end, it was associated with almost coninual disappointment and frequent loss. The year opened with values standing at a i.igh level. That level had been reached in consequence of an insistent demand on the part of consumers during the latter" months of 1924, when supplies had shrunk to a tserious extent, and _ when optimistic hopes were being entertained in regard to the prospects of future business. As events proved, these hopes were not to bo realised. The new year had barely begun before a general falling away in demand became noticeable, and shortly afterwards a price slump set in, which lasted well into the middle of the year, and which, in the case of many descriptions of hemp, represented a decline in values of more than 30 per cent. This state of things was brought about, not by reason of any unanticipated increase in the supply of hemp from overseas, but by reduced consumption on the part of spinners and ropemakers. Europe was in the throes of trade depression, which unfortunately still continues to a considerable degree, and manufacturers were unable to find markets for their goods, being consequently compelled to curtail their production.

, AUSTRALIAN POTATOES. YIELD BELOW THE AVERAGE. A, and N.Z. SYDNEY. Feb. 16. Owing to the continued dry conditions through many of the potato-producing districts in New South Wales, the prospects of a high average yield which seemed possible in the early part of the year have ' bfen completely altered. Reports from Tasmania and Victoria also indicate greatly reduced yields. The Department of Agriculture is of the opinion that it is quite possible potatoes may have to be imported from New Zealand.

MARKETING OF WHEAT.

INTERNATIONAL CONSULTATION,

Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) NEW YORK, Feb. 15

A message from St. Paul, Minnesota, says the formation of an organisation to market the wheat of the various grain pools and co-operative agencies of Minnesota, Montana and Dakota was announced to-day when the articles of the corporation were filed. The authorised capital of the concern is £220.000. The representatives of the Australian, Canadian, *and United States pools are to meet at St. Paul to-morrow to discuss co-ordination in the marketing of wheat in their countries.

PUKEKOHE PRODUCE. POTATOES: AND- ONIONS. [BY TELEGRAPH. —OWN CORRESPONDENT. ] PUKEKOHE, Tuesday. The potato market shows a weakening this week, which is attributed to the Southern districts now supplying their own requirements from their own crops. The price is £7 5s to £8 a ton, f.o.r. Pukekohe. The size of the potatoes now coming in is inclined to bo small. Onions are. firm at £8 to £9 a ton. The crops are proving light, poor seed being blamed to a large extent. CHICAGO WHEAT MARKET. Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) . CHICAGO, Feb. 15. Wheat.-r-May, new, 1 dollar 68| cents per bushel; old, 1 dollar 66 5-8 -cents; July, 1 dollar 50 5-8 cents; September, 1 dollar 43 5-8 cents. SALE OF STUD STOCK. A dispersal sale of the stud and other stock of Mr. Isaac Andrews will be held at the Waihao Downs homestead, Waimate, by Pyne, Gould, Guinness, Ltd., and Dalgety and Co., Ltd., on March 11 and 12. The greater part of the catalogue comprises the wellknown Waihao Dowri3 flock of stud Corriedale sheep. This is one of the most famous Corriedale flocks in Australia and New Zealand, and includes many prize-winners. These sheep have been bred with as much regard to quality of carcase as to covering, and thus conform to the modern ideal of the dual purpose sheep. Of these 100 will be offered singly and the balance of 2000 odd will be put up in lots of five and ten. The stud and flock sheep will be sold on the first day, and the horses, cattle a .d implements on the second day. Catalogues may be had 011 application to the auctioneers. MARKET REPORTS. FRUIT AND PRODUCE. Large quantities of pears and apples were handled at the Auckland City Markets yesterday, the supply of Bon Chretien peaia being the heaviest so far this season. Peaches were in good supply but plums were scarce, and realised up to JOs a case for choice grades. The.ro was, a good demand for nectarines, and the supply vas rather short. Best Jine3 brought from 7s to 18s a case. Bananas were scarce and realised from 22s to 28a a case. The next shipment of bananaß is expected by the Tcfua next Monday. Rock melons are now coming to hand in fairly large quantities, yesterday's prices being from Gd to Is 8d eaoh. The following prices were realised:— FRUIT. Apples, Gravenstein, choice, 5s to 7b a case; others, 3s to. 4s 6d; cookers, Ss 6d to 4s Cd; Scarlet Pearmain, 3s Cd to 4s 6d: windfalls and inferior grades, from 2s; Bon Chretien pears, choice, 4a 6d to 7s a oase; others, 3s to 4s; peaches, Paragon, Al, Eiberta, 3s fid to 8s a case; plums, 4s to 10s a case; neotarines, 7s to 18s a case; tomatoes, choice, 4b to 7s a case; inferior grades, 2s to 3a fid; grapes, choice Is 3d to 2s per ,Ib.: others. 9|d to Is 6d: cape gaoseberrieis, 7d per lb.; South Island apricots, choice, 6s to 7s a case: others. 4s to ss; bananas, 22s to 28s a case; oranges, 17s to 24s a case; cocoanuts, 18s a sack; lemons, 6s to 20s a case. FIELD PRODUCE. Potatoes, best cradea, free from blight, 4s to 5s Gd a sugar biftr; other grades, 2s 6d to Ss 6d; onions. 9s to 10s per cwt.; pumpkins, 10s to 13s per cwt.; kumaras, 8d to 4d per lb.: swedes, 2s 6d to Sa fid a sugar bag; oabbages. 5s Jo 0a 6d a sack; lettuces. 2s to 5s a case; celery, 3d to 2a 6d a bundle; marrows, 3s to 5s fid a dozen; cucumbers. 3d to 9d a doz. j rook melons, 6d to Is 8d each; rhubarb, Is 6d a doz.; peas, 4d to 5b per lb.; beans, 6s to 8s 6d 0, sugar bag; carrots, parsnips, beet and turnips, 8d to Is 2d a. doz. bundles. DAIRY PRODUCE.

Hen egfrs, 2s 3d to '2s Sd a doze<n; duck egg's - , 2s 2d to 2b 7d a, dozen; pullet eggs, Is lOd to la lid a dozen; farmers' butter. Is 2d to Is aid per lb. HIDES AND SHEEPSKINS. AUCKLAND MARKET PRICES. Fair prices were' realised for good quality ox hides at the hide and skin &ale 3 yesterday, but the market for all other lines was weaker than last week. The following rates were realised;— Hides.—Cow: Light, 6d to Bid per lb. t medium to heavy, 6id to 6fd; second grade, 4id to 6,d; out and faulty. 3sd to Sd. Ox: Light, 64d to 6|d; medium. 8d to Bid; heavy, Bfd to Sd; heavy, with substance, lOd to" 301 d; out and faulty, Bid. to 6d: kips, best, 7d to 7}d; second grade, s*d to 6d. Yearlings; Best batchers, BJd to81d; second grade, 6d to 7d. Calfskins: Best, light, llid to 12id; heavy. B|d; cut and faulty, 7d to Sd. Sheepskins.—Dried: Three-quarter to full wools, medium to fine ■ crossbred, l<Hd to Hid per lb.; faulty and coarse crossbred, 7id to 9}d: damaged, 6H to 7id; half wools, medium to find crossbred, 10d to 10|d;.faulty and coarse crossbred, 7id to Bjd; damaged, 6d to 6d; quarter wools, best, 7id to 8d; second grade, t© 7d. Salted sheepskins; Full wools, best, heavy, 8s 6d to 0s 6d each; thrM!-quarter to full wools, medium, 7s 3d to 8s; medium to light. 6s to 6* 3d.; half wools,"3s fid' to 4s 3d;' quarter • wools, ?«• 8d to 4s; pelts, 2e ed to 8s Bdi lamb gkina, large, Ss. to % lfld each* raa*U tsunodiuzc, 2s Cd to 8s Bck