COMMERCIAL.

New Zealand Herald, Volume LXIII, Issue 19321, 7 May 1926, Page 9

COMMERCIAL.

WHOLESALE AM) RETAIL.. EFFECT OF STRIKE ON TRADE,, THE PRODUCE MARKETS. The drapery trade is getting the principal benefit from the seasonal change in the weather, there being a distinct increase in the attention given during the week to warmer clothing of all kinds. Sports clothing has naturally participated in this activity. Otherwise retail trade is about normal, with no important fchanges in value or turnover. Hardware houses report a somewhat quiet trade with country districts. J. here is usually a sharp increase iu the demand for fencing wire at this time of the year, especially for those districts where the slackness in other work enables fencing to go on during the winter, but this year this special trade is not so pronounced, and farmers show a tendency to restrict their purchases of all kinds of requisites, in order to conform to the reduced earnings during the season. A fair amount of building is going on, but finance is standing in the way, especially in the many cases where the sections bought are not even paid for. Advances for building oil sections are not at all popular where the land is bought only on time payment. America Heaps the Benefit. The great strike is naturally the absorbing interest in business circles, and is being viewed from different angles. During tho week the first interest of some importing houses has been to try to discover what they can buy from America during the stoppage 'of shipments. Although most of the heavy importations of last year have apparently gone into consumption, importers are already taking account of the smaller earnings of the community during the present season, and have reduced their indents accordingly. More advantage is being taken of tho facilities for cheap cabling for small quantities as required, instead of giving large orders for spread delivery. The consequence is that the prospect of an interrupted supply, even for a few weeks, is not viewed complacently, and apparently neutral America is going to get tho benefit of this, just as in the earlier stages of tho war.

If the strike continues for any time, this may further place the world wider an obligation to America, whereas during the first two months of this year there was a noticeable move the other way, the imports actually exceeding the 'exports. In January the imports were £4,000,000 in excess of the exports, and in February the excess was £7,000,000. With tho exception of a few months about the beginning of 1923, when it was thought in some quarters that the tide had definitely turned, this is the first time this has occurred for a good many decades, the inevitable experience in America being that exports are well ahead of imports. Even after the war, when the whole world has been placed under financial obligations to America, the excess oi' exports has still been going on, thus further increasing tho indebtedness of the rest of the world, and tho strike will apparently continue that movement, and arrest tho improvement in the position which the first two months promised to bring about. Importers maintain that while they are working on small stocks they cannot afford to have supplies interrupted, ad if they cannot get them from England they must order from America. Dairy Produce Exports. Exporters are r.rwious over the sale of the season's pre •. in addition to the indirect loss through the reduced spending power of the British public, which they must expect if the strike js prolonged. The maximum price of New Zealand butter has been fixed at 1725, and that of cheese at 935, and as there are fair supplies of each commodity stored on land the fixing of the price will prevent any speculative advance such as would restrict the sale. This, however, is subject to the possibility of arranging for transport from where the produce is held in cold store. As for future shipping, the delay last September has not yet been caught up, and this is advanced as tho reason why fruit and other produce have not always been picked up as early as shippers would have liked, a contingency which was foresoon while the shipping strike was on. The present strike will delay arrivals of overseas goods in New Zealand, as well as the shipment of produce therefrom, just at the time when the interruption will cause the least inconvenience, so that in respect to direct loss the Dominion is very fortunately placed. It is feared, however, that if the strike is prolonged the indirect loss rriav be severe. PRESERVING' JARS. Quotations for prcscrvinp and jam jars for next season havo already been notified, though deliver" will not bo required till September or October. Canadian quotations are on a more favourable basis than opening rates for tho previous season, and Australian prices aro also lower. The improved patterns n."d satisfactory quality of the new Australian iars have been favourably received by distributors, and it is likely that, a much larger proportion oi tho trade will this your go to Australia. AUSTRALIAN. SALT. A shipment of Australian fine and coarse salt is duo to arrive about, the middle of the month, and considerable forward business has been booked ex this arrival. Prices are more favourable than recent quotations for English salt, and the quality of glassy fine grade is quite satisfactory. Tho infrequency of direct shipping opportunities detracts from tho permanent establishment of Australian salt in this market. CORNFLOUR. Finest packet cornflour remains firm at recent but prices of cheaper grades show reductions which bring (■notations down to a competitive basis with Canadian packet' cornflours. PRESERVED GINGER. Further slight reductions are again notified. and the imported lino is now available on better terms than that produced locally. AUSTRALIAN SULTANAS. Local agents of tho Australian Dried Fruits Control Board adviso that . their principals are withholding confirmation of orders, pending acceptance by tho various packers to whom the allocations have been made. It is expected that confirmation will bo duly received, but in the meantime prices are again withdrawn. EGGS. Supplies aro somewhat curtailed by delays in transport during tho rough weather, and also by the cold snap causing a reduction in the production of hen eggs. Some retailers have been compelled to advance thoii price this week to 3s Bd. but duck eggs are fairly plentiful, and they are being sold at a few pence less. It is expected that this condition will prevail for some weeks. ARTIFICIAL SILK. A remarkable proof of the absorbing intoreat which is being taken in artificial silk was seen at tho famous Leipzig Fair hist March, for it was widely advertised as the loading attraction, and hundreds of Americans and Englishmen specially interested m the industry had early announced their intention of visitin" the fair. They went in great numbers, full of interest .and enthusiasm. Tho German artificial silk manufacturers apparently laid themselves out to display what progress they havo mado in the production of tho newest forms of artificial silk. Theso may bo . taken as centring in artificial cotton, artificial wool, artificial straw and artificial horsehair and silk fibro The exhibits consisted of nitro silk, copper silk, acetate silk and viscose silk, tho first three having as their origin cotton, and the last-named wood. The lmproHSiix. carried away by a correspondent of the Statist, an a result of conversations with the artifvinl silk producers from Great Britain Uid' United States, Germany, France. .Belgium and Japan, is that the whole question of artificial silk is one of such general iVteres!, and capable of such enormous do-

volopmonts. that there rati be no possibility of monopoly or concealment of systems or processes. Then" 'ho iondonc-y among the leading spirits in the artificial silk trade is all toward amalgamation of interests for the wider distribution of what they describe aa the new textile. Tho name of Itab"_ has to bo left out from tho list of these desirous of a General agreement for mutual interests. That comes of the fortuitous position in which the Italian artificial Bilk trade finds itself at present, on account of cheap labour, moderate taxation, and advantageous commercial treaties, especially that with Germany,_ enabling her to produce at much lower prices than any other country. As an example of the tendency toward international consolidation of interests in the trade, it will be noted that the British Courtatilds concern has big interests in the United States and in Germany. The Dunort Artificial Silk Company of tho United States, which has its representative at tho fair, is in close touch with the German producer, Ifoeln Kothveil. Just recently tho British Courtauld Company has in project a German factory in conjunction with tho GJanz3toif Company, of Elherfeld. The Bembery Company, of Bremen, lias intimate business connections with artificial silk companies in the United States, and also with British firms. Before the war, so tho experts say, the world's production of artificial silk was five million kilos. It lias now risen to t>s million kilos, and the year 19*20 may show a4O per cent, increase on that. About 90 per, cent, is viscose. Linters play a dominating roll in the latest production of artificial silk: with this foundation a very good kloss is obtained. The copper process has the advantage of producing the finer threads. It has technical advantages over the viscose, for in tho latter expensive chemicals _ have to be used which are not required in the copper process. Acetate silk has been only a relatively short period in the trade. It is noted for the excellence of its gloss, and on that account commands limber prices. The sensation of the fair is the entirely new combinations which have been invented by tho German technicians. Specially remarkable are the mixtures of wool and artificial silk. But what attracted more interest than anything else were tho velvets and plushes produced from celluloid, one material, that might easily be taken for broad-tail fur, and another that is evidently intended us an imitation of seal. Undoubtedly the meeting of no many artificial silk experts at the Leipzig Fair 13 an event of the highest importance to the new textilo, and there are those who believe that th _ consultation* will lend to a final decision concerning the much-discussed "International Artificial Silk Trust." As an instance of tho development of this textile it. mav be mentioned that tho capital of English artificial silk companies former! last year was £4,080,000, . The continued expansion in Ihn'usn of ravon in Lancashire is shown by the fnct that it is now employed in the weaving of over a thousand different fabrics. POTATOES. Supplies are still being drawn from Pukekohe, but the market is a little firmer, as diggine has been delayed by the rain. As compared with £'fi, the price is now £0 5s to £'(> 10a at Pukekohe. Fair Quantities of Southern aro duo during the week-end, and according to latest advices the Southern market is distinctly weaker, being about £1 lower than a. few weeks ago. when shippers had their ideas inflated by Australian ioouiries. Most Auckland buyers held off during that period, recognising that Canterbury had a. month to six weeks less in which to unload their surplus on Auckland this year, on account of the exceptionally lieavy_ second crop at Pukekohe and surrounding districts. There aro indications that Cantorbnrv is now rnoro disposed to look to Auckland for a market, and the price next week will be about. 9s fid to 10s exstore for what aro now on tho water, with Pukekohe potatoes about Is less. ONIONS} AND VEGETABLES. Remain firm at Ids, but the liich price is restricting the sale. Merchants are holding only small stocks, but of these tho quality is mostly good. Other vegetables are very plentiful this year. and Pukekohe found an opportune outlet in Sydney for a substantial order for swedes, carrots anil parsnips. It is also stated that there is an exceptionally good crop of Belgian white horse, carrots. OATS. Southland price is down another penny, with aii easier tone for forward sales, and this will enable sales to be made here at 5s 4d to 5s lid ex store, on the f.o.b. basis. Conseouentlv it is expected that not much more Canadian oats will be ordered. Most merchants have stocks for the present, which they aro quoting at us (id ex-store. CHAFF. Easier, in sympathy with oats, even Blenheim being more inclined to look here for business. Quotation for this is £ll 10s ex ship, or £l2 cx store, but a fair quantity •f Australian is duo next week, and tin's ! will sell at about 20a leas, WHEAT. Fowl wheat is firm at 8s 6d ex store, with an upward tendency, and it is expected that future importations will have to Bell 1 at a higher price. bit:: and pollakd. Steady importation ia taking place from Australia, bran moving off to a eood demand at £SO 15s, anil pollard at, £l2. Both these figures are above the price of local. MAIZE. The South African has arrived and is now being discharged. _ Unfortunately, as anticipated, last week, it is infected with weevil and importers are arranging to have it fumigated, or else frozen. Fortunately the weather ia not such as to help tho propagation of this pest- aud it may be deutroyed by a short period in tho freezer. This shipment is all that is available lliis week, as local supplies are not coming forward. South African is quoted at 7m Gd to 7s 9d cx store, and any local would bo 9d more. THE TRADE OF CANADA. A Pi EMAKKABLE EXPANSION. Canada's trade is expanding at a rate never before equalled, except for two war boom years, in the history of tho Dominion. Latest statistics show that for the first 10 months of the fiscal year which ended 011 March 31 last, Canada's total trade amounted to £375,995,327. The total trade for the full year preceding the fiscal year ended March 31, 1925, was £373,199,978. In other words, Canada did more business in 10 months of the past financial year than in the whole of the previous year, and her trade for the complete year is likely to exceed the £400,000,000 mark. For the first time ! since the artificial prosperity of the war years, will Canada's trade have jumped by more than £60.000.000 in a single year. Not since 1917 and 1918 has. anything approaching this rapid expansion of markets been experienced in this country. NEW PRIVATE COMPANY. On" private company was registered in Auckland yesterday. Details are as follows:—Tho Gilbert Printing Company, Limited, printers, publishers, etc. Objects: To take over the business of Gilbert Brothers. Capital,- £1,500. Subscribers: Alfred E, F. Gilbert, Augustus 11. Gilbert, and Frederick C. Davey, printers, Auckland, 500 shares each. CHICAGO WHEAT MARKET. Australian and N.Z. Cable Association. (I'ecd. 5.5 p.m.) CHICAGO, May 5. Wheat.—May, new, 1 dollar 59j] cents per bushel; old, 1 dollar 57J cents; July, 1 dollar 39A cents; September, 1 dollar 35 cents. PROPERTY SALES. William A. Horne, Ltd., will sell by public auction at their auction rooms, corner High Street and Vulcan Lane to-day at 1 p.m., cottage of t rooms and kitchenette, bathroom, detached wish-house, copper and tubs, every convenience,, in perfect order throughout, on level section 3.1 x 110. situated '2l, Claremont Street. Grafton, on £2OO deposit; also family home. G rooms and all conveniences, on section CO x ISO, concrete paths, situated 10, Kings way Avenue, Edendale. £BOO insurance; £35 deposit. Samuel Vailo and Sons, Ltd., will offer at auction at their rooms, S3, Queen Street, at 2 o'clock today the following properties:— Villa of (i rooms and offices on section 100 x 200 ft,.. at No. 54. Empire Road. Epsom; 2 lots of 7 acres 0 roods 30 perches land 2 acrop 0 roods 12 perches at Matakana, I without reserve: a leasehold farm of 5(5 acres 2 roods 28 perches at Awhilu, at the request of the mortgagee: and under conduct of the Registrar of the Supreme Court, a farm of 125 acres at Aka Aka, near Waiuku, about 100 acres being rich swamp hind: and n bungalow of 3 rooms, in Norman Road. Takanuna. Roberts and C 0.., will offer at auction at their rooms. Jellicoe Chambers. corner Wueen and Wyndham Streets, at 12 o'clock to-day. on behalf of the mortgagee, a six-® roomed bungalow in Tho Drive, Epsom; on behalf of the public trustee, a sixrotned house at Ponsonby and two houses at Richmond and Buchanan Streets, Gleuniorc, off Croat North Road, i r f. Mandeno Jackson will offer at auction at, their rooms. 9, Commerce Street, at 11 o'clock this morning, at the reouest of the Public Trustee, and under conduct of the Registrar of the Supreme Court, a block of 19104 nore<* (1081| acres freehold and 829 acres leasehold), together with 4-roomed cottage, woolshed. sheep yards, etc., situated 6 miles from Hikuraugi railway station, and 2 miles from post office, school and store. C. P. Bennett will offer at auction, at his rooms, N.Z. Insurance Buildings,, at .12 o'clock to-day. a shop or warehouse site, in Hobson Street, adjoining the Trades Hall, and having a frontage of 01ft. by depth of 180 ft. |