COMMERCIAL.

New Zealand Herald, Volume LXIII, Issue 19303, 16 April 1926, Page 9

COMMERCIAL.

WHOLESALE AND RETAIL. TRADE CONDITIONS REVIEWED THE PRODUCE MARKETS. No startling changes havo occurred during the week, wholesale and retail reporting only a moderate business, with money difficult to collect. This is partly attributed to tho holidays and their accompaniment of racing, and it is expected that funds will shortly accumulate again in the hands of the wage-earning part of tho community. Loans recently authorised by ratepayers will involve a further heavy expenditure of borrowed money on works requiring a largo amount of unskilled and semi-skilled labour, so that a continuation will bo found during tho winter of the circulation of largo sums to workers. Other loan proposals are mooted for the early future, which will also employ a large amount of labour during the next year or two, circulating money which will mostly find its way into ordinary trade channels.

Building activity is only moderate and this i$ adversely affecting a large number of tradespeople who were expecting a heavy season, if only owners had been able to arrange finance. Several large contracts, however, will be carried on during tho winter, tho slackness being most noticeablo in residential building. The firmness in the London market for butter and cheese is increasing confidence in the dairying districts, especially now that the autumn production is keeping up fairly well. The already small difference between the price of New Zealand and Danish butter,' which has been such a feature of the last few months, is even smaller now, tho latest cable from the High Commissioner showing only 10s a cwt. between New Zealand salted and the Danish article. The pay-out for March supplies of butter-fat will take placo next Wednesday, and as far as the Auckland district is concerned it will be based on a production almost identical with that of March last year. Most districts are eagerly awaiting a good downpour of rain to revive pastures that are now falling away, but the rain last month gave fodder crops great assistance and most of them promise very well for a good supply during tho winter. Fresh Meat For Britain. An interesting development in the supply of fresh meat to the British market | has just taken place, in the building of the i steamship Ontario, the first boat ever designed solely for the transport of live cattle. This vessel took 1168 head to Glasgow, on her first trip from St. John, New Brunswick, and it is stated that tho ship is equipped to carry cattle on five decks, with every facility for loading and Unloading as well as feeding and keeping the cattlo clean. Three additional ships of the same class are to be built for this Canadian cattle trade. An important feature in the new shipping arrangement is the fact that market conditions will govern tho destination of tho cargo, us the steamers will bo directed by wireless to any desired port, to take advantage of the highest prices prevailing and to guard against overloading any market. It is expected that the new arrangement will be the means of -increasing Canada's live stock export by at least 50,000 head annually. Canadian industry is also getting the benefit of the large wheat crop of last | year, which was estimated to bo worth j about £90,000,000, an increaso of £30,000,000 on that of the previous year. United States Trade. A startling cl- n;e in tho external trade balance of the United States is advised by mail this week, tho imports for January being valued at £3,000,000 in . excess of the exports. With the exception of the four months March to Juno, 1923, when the trado pendulum pointed in the same direction, and it was thought in many quarters that tho movement of trade had definitely turned, American exports always been in excess of the imports during modern times, and thero is much speculation in America as to whether the present development is likely to be permanent, or whether it is merely a temporary phase, duo to a reduced exportable surplus, together with tho high price payable for a few important articles which require to bo imported. Now that tho anthracite coal strike is settled, and an agreement reached which runs till 1930, it° is expected that America will continue in the remarkable state of prosperity which has been so pronounced during the last four years, arid this should so maintain the buying capacity of tho American public as to create and sustain a lie aw demand for imported goods, to the benefit of tho trade of the whole world. A few departments of trade in America aro quiet, but the building trade and automobile sales aro taken as a fairly sound barometer on the real position, and they aro particularly active. Returns compiled in 37 States show that contracts awarded during January exceeded £92,000.000 in value, nearly 50 per cent, more than in January of last year. British Trade Returns. Tho British trade returns continue to show the steady falling off in imports that has been noticeable for several moivths past, and that will appreciably help tho adverse trade balance which has been causing some anxiety as to Britain's abilitv to continue the policy of heavy lending abroad. Imports ' are aliout £6.000,000 less than in March of last year, making a reduction of about £30.000,000 during tho first quarter. Unfortunately more than half of this has disappeared in a contraction in the exports. March exports at £66,309,000 comparo with £70,303,000 during March of last year, the total reduction during the quarter being about £19,2J0.000, so that the not improvement in the external position, as compared with the first quarter of last year, is brought down to a littlo over £.10,000,000. DRAPERY. All the drapery houses are now making an attractive display of winter goods, but winter is a long time coming and tradespeople aro waiting for a turn in tho weather to bring tho attention to wnrmer _ goods, which usually comes iu at about this time ye '"' COAL. Merchants report that auite a good demand set in for household coal beforo the holidays and most consumers are now apparently. well supplied. EGGS. Retailers oro quoting 3s fid for best, fresh eggs, either hen or duck, with a very firm market. A few chilled eggs aro oflering at 2s 9d. POTATOES. Tho market is firm with plontiful supplies of good quality arriving from Pitkekohe. but thero is a tendency to quote a little higher at 8s to 8s Od ex store. Owing to the high landed cost of Southern there is no'inducement to import as long as local continue in good supply. ' , Auatr r in, T ,;\ n r # bought for forward shipment up to July, but it is unlikely that any more will be booked, as thero is not sufficient margin. ONIONS. Merchants aro buying on a t a »d4o-mouth policy in a Arm ninrkot. Tho Quality now arriving from the country is generally m hotter condition and good, quality readily command 10s. Od ex Btorebiitsofarthcre ia no necessity to buy in tho South. OATS. Tho Southern market has weakened to meet the Canadian cost at last, tho latter being regularly landed at a cost, which allows sales at 6s 0d oil the wharf or 6s 9a ex storo. Since this development it is advantageouß to buy in the South, but most merobant# are still fairly well stooked or committed for Canadian oat#«

CHATS'. A steady demand is reported at 12s for Southern and lis for Australian in sucks. WHEAT. Tho Australian market is up twopence in fowl wheat, possibly ill expectation 01 lower freights to tho other side of the world, but it is thought in most quarters that it will be difficult to get freights reduced. The reduction in prico will soon be rellected here. The millers of Iscw Z.caland are somewhat disconcerted by the frequent importations of Australian Hour competing against them in a high wheat market. If flour was quoted to 3Sew Zealand on the bawis of Australian prices for wheat, as it is on their local market, the competition would probably be met, but lower quotations, which practically amount to dumping, are being offered for shipment, and it is thesis low quotations which are _ upsettine tho local position, tho duty being ■£.> per ton compared with 2s per 1001b of wheat. BRAN AND POLLARD. Aided by a heavy export trade ill flour. Australian millers are producing larger quantities of bran and pollard and both ar«i now offering at slightly lower prices for forward shipment. This particularly applies to pollard, but both lines are probably in smaller demand in Australia since tho rain came. Regular small shipments are arriving in Auckland and selling at £ll foi bran and £l2 5s for pollard. MAIZE. Firm at Ps Gd ex store, but merchants are not buying very heavily from the Coast aB the expected shipment of South African is already in Wellington. The vessel has to go to Dunedin first, so that it will probably be next month before the maize arrives here. Coast maize is realising 7s 4d on the wharf in wholesale lines. LONDON TALLOW SALES. Australian and N.Z. Cable Association. (Reed. 5.5 ii.m.) LONDON. April It. At tho London tallow sales 1026 casks worn offered and 457 sold. Good, fine mutton tallow was neglected. Other sorts sold well at dbout 3d advance.. Dalgety and Company, Limited, report having received the following cablegram from their London housC dated April 14 : 1 allow sales: 1025 casks of tallow wcro offered and 44 per cent. sold. There is no demand for mutton, but other descriptions aro at par to 3d higher. THE LEAD MARKET. Australian and N.Z. Cable Association. (Reed. 8.35 p.m.) LONDON. April 11. Lead imports total 19,148 tons and exports 1997 tons. CHICAGO WHEAT MARKET. Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) CHICAGO. April 14. Wheat.—May, new, 1 dollar 64£ cents per bushel; old, 1 dollar 63 cents. July, 1 dollar 39 cents. September, 1 dollar 3 cents. MELBOURNE HIDES SALES. Australian and N.Z. Cable Association. (Reed. 12.5 a.m.) MELBOURNE, April 15. At tho Melbourne hides sales to-day large catalogues were submitted. Values were unaltered excepting kips which de-_ clined one farthing. AUSTRALIAN PRODUCE. Australian and N.Z. Cable Association. (Reed. 11.5 p.m.) SYDNEY, April 15. The following are to-day's quotations on the Sydney produce market:— Wheat.—Market quiet but firm. Growers are selling steadily at 6s lJ>d ex trucks Sydney, or 5s 6Ad at country sidings for bagged lots, ancl at 2d less ifor bulk. Oats.—Tasmania!!. Algerian, 5s 3d: white, 5s lid. Maize.—Yellow, 6s; white, 5s 9d. Potatoes.—Tasmanian, £ls 10s to £l7; Victorian, £ls 10s. Onions.—Victorian, £23. Adelaide quotations are:— Wheat.—Growers' lots, 6s Id. Oats.—3s to 3s 3d. SALE OF RUAKURA STOCK. The annual sale of surplus stock at the Ruakura Farm of Instruction was conducted last Wednesday by the Farmers' Co-opera-tivo Auctioneering Company, Ltd. There was a very j.ir.'fo attendance of buyers, even from places -o far distant as Kaipara, W&stpori, Kaitaiu and Canterbury. There was n good demand for young pedigree milking Shorthorn bulis, but prices were below those of last year. They sold at from 12 to 38 guineas, tho latter price being paid by Mr. Moore, of Canterbury, for Dominion Tyrone of Ruakura. A number of others realised over 30 guineas. Jersey bulls wero not much in demand, 25 guineas being tho top price. Ayrshire bulls were not wanted, and were all passed in. Milking Shorthorn heifers sold well at prices ranging from 12 to 21 guineas. Jersey heifers realised up to 13 guineas, but there was no domand for Ayrshire heifers. There was keen competition for the pigs, and very satisfactory prices were obtained. Berkshire boars and tfows sold up to 13 guineas, and largo white up to 6 guineas. PROPERTY SALES. William A. Home, Ltd., will offor at auction at their auction rooms, corner High Street and Vulcan Lane, at one o'clock today, Sherwood Towers apartment house of 13 rooms, in five self-contained flats, at 11, Stanmore Road, Grey Lynn; also, Ivo building sites, leasehold tenuro, areas about quar-ter-acres, situated Church Road. Mangere Bridge; also, at the request of the mortgagees, five-roomed house, with carage, situated Pah Road, Mount RoskiH, and five four-roomed cottages, situated Nos, 29, 31, 31a, S3 and 83a, College Hill, Auckland. C. F. Bennett will offer at auction at his rooms, New Zealand Insurance Buildings, at 12 o'clock to-day, by order of tho registrar of tho Supremo Court, the property known as No. 48. Clonbern Road, Hemuern, comprising a six-roomed dwelling, on freehold section having 57ft. frontage by uvorage depth of 110 ft. Samuel Vaile and Sons, Ltd,, will offer at auction at their salerooms, 83, Queen Street, nt 2 o'clock to-day, the block for many yenrs occupied by the Newmarket public school, at tho oorner of Broadway and Mortimer Pass, The block has been subdivided into 15 sites, six fronting Broadway and eight Mortimer Pass. The growth of Newmarket as a business centre, both for shops and factory premises, during the last few years has been very remarkable, and it is anticipated there will be keon competition for the sites to be offered, Two properties will also be offered at the same tinvi at tho request of the mortgagees, under wonduct of the registrar of the Supreme Court, comprising bungalow of fivo rooms at No. 24, Disraeli Street, Grey Lynn, and house of seven rooms, two kitchenettes, etc., nt Queen Street, Northcote; also, on behalf of owner, a house of six rooms in Mnnukau Road, One Tree Hill. Rutherford, Robinson and Austin will offer nt auction to-day. at their rooms. Lister Building, Victoria Street East, one section of approximately one acre, in Church Street, Otahuhu. On behalf of Mr. R. A. Fletcher, freehold known as Number IG9, Parnell Road, opposite tho Pnrnell Library, with modern buijding comprising shop and five living rooms, and workshop and small shop erected thereon. T. Mandeno Jackson will offer at auction at their rooms, 9. Commerce Street, at 11 o'clock to-day. a freehold property, on tho elopes of Mount Victoria, Dovonport, containing about three-quarters of an acre, and having 38ft. frontage to Albert Street, with dwelling of 10 rooms; a freehold property at 4, ISdenvale Road, Mount Eden, comprising eight-roomed houso and section 50 by 100 ft.: freehold property at corner Sussex Street and Rose Road, Grey Lynn, and two-storey dwelling of 10 rooms; also two good level sections, adjoining, and facing Sussex Street; at tho request of the mortgagee, 59 i acres at Paremoremo; also, under under conduct of the registrar of the Supreme Court, at the request of the mortgagee, a bungalow of five rooms and section containing 24* and 2-10 th perches, at corner Fwen Street and Rarero Road, iakapuna. and a farmlet of 11 acres with house of two rooms. <vt Birkdale; a six-roomed .house, situate on lots 9 and 10. Ba'Ty s H'll Ltute, Remuera Road, will be sold 101 at the Bnmo time. , a auc H o n >it 2"to tim to-dny a se c tion 90ft. by 264 ft.. • 'fi T},-.n 4 Tnkamma. a pi.x-roomerl v n i*ffillow' in Onewft 'load. Birkenhead, and liTur-roomld Cmow in Wairoa Avenue, P i v

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