TRADE IN AUCKLAND.

New Zealand Herald, Volume LXIII, Issue 19397, 4 August 1926, Page 9

TRADE IN AUCKLAND.

WHOLESALE AND RETAIL. QUIET CONDITIONS RULING. PRODUCE MARKETS REVIEW. Now that all the. special trade booked forward for August account has been handled, the wholesale houses are rather quiet again, and reports indicate a general inclination to keep down stocks in order to minimise financial commitments. Soft goods houses are opening up spring but most other departments are quiet, country and city trade sharing alike in the winter slackness. »The building trade is rather dull - in residential contracts, but there is a fair amount doing in business premises. Constructional material may be a little short soon, if the coal strike continues, but American manufacturers are expecting to pick up some of this trade to keep things going. v EGGS. Still in heavy supply, but the lower price is bringing in a better inquiry, eo that there has not been much difficulty m disposing of all the arrivals. Wholesale pnee •is about la Bd, and retailers are making a special feature of . the line at Is lOd, POTATOES. Several shipments have arrived during the last few days,-so that most houses are now well supplied, and this has enabled the market to respond to the lower tone in the South, local merchants quoting £9 this weeK. Great efforts have been made to hold up the price in Canterbury, but the cessation of inquiry from Australia has had the inevitable result of easing the market. It may be that this is only a temporary failing off, but meantime the presure of an exceptionally heavy crop is lowering quotations. ONIONS. The special purchases of Japanese onions secured in Sydney have now been moved off at 27s a crate, ''and distributors are_ waiting for the main _ shipment. This is not on the Uarama this week, but is expected by the TJlimaroa next Tuesday, and the contracts booked will then be delivered, OATS. Demaud is dull at 5s 3d to 5s sd, ex Btore, in small lots, with little interest taken in the market, and prices have a tendency to sag. CHAFF. A fair amount is moving off at £ll for Australian and £ll 15s to £l2 for best Blenheim. Australian i 3 now in good supply and ther is also a little local offering since the better weather allowed cutting to proceed. Price is £8 10s to £9 for good quality at country stations. WHEAT. The Australian mnrket is very firm, and it now seems that all in stock on the other side will bo required for local consumption, so that the market is independent of European demand. Fowl wheat is quoted locally at 9s to 9s 3d ex store, but a rise seems inevitable. FLOUR.

A good deal is being imported from Australia. and it is expected that a further mo will take place locally, in sympathy with the higher market on the other side. BRAN AND POLLARD. Both aro selling: well, and an advance is in sight. Bran has risen £3 in Australia lately, and pollard £2. and us a good proportion of the quantity now required is being imported it i 3 likely to move in sympathy here. MAIZE. The market is a little easier, under tho influence of larger supplies ariving from tho coast. Samples from Opotiki are mostly rather soft, and have realised Cs 5d on tho wharf in wholesale lines, but Gisborne grain is much- more matured and has sold at 7s. FLAX. Very little is comma in at .present,, as most of the mills are closed. No fresh development has taken place m the export inquiry, and it is expected to remain dull as long as the coal strike lasts. . COPPER. For a long time it has been expected that the market would harden, but no advance has taken place yet, although stocks are estimated to. be decreasing. Production and consumption are now on a largo scale, but the market is not following the statistical position. LUBRICATING OILS. The latest advices are in favour of full prices, a3 there is a very great demand all over the world. RESIN. The market has apparently, touched bottom and is now definitely on'tho move upwards. American demand is very h?avy, . GRAPE PRODUCTION. Advices from San Francisco report a steady increase in production evgry year. The latest, returns show that in the State of California the acreage under grapes is now 653,236, of which a little over half is devoted to raisin grapes, and the balance almost equally divided between wine grapes and table grapes. The total grape crop lust year was oloae on two million tons. COTTON. The market is fluctuating in accordance with crop predictions, but at present the outlook is in favour of a heavy production, with a consequent low range of prices. DE BEERS MINES* PROFITS. DIVIDEND OF 60 PER CENT,

The Board of De Beers Consolidated Mines in June announced a final dividend on the doferred stock of 35 per cent., or 17s 6d per share, in respect of'the year ended June 30, making, with tho interim dividend, a total of 60 per cent, for the .whole year. This is an increase of 20 per cent., compared with the distribution for the previous year, DOMINION INDUSTRIES. MORE PROTECTION URGED. [BY TELEGRAPH.—MESS ASSOCIATION.] DUNEDIN; Tuesday. At the annual meeting of the Otago Manufacturers' Association, the president, Mr. J: Hogg, said that all the publicity work, propaganda,; and slogans emphasising tho necessity for public sentiment in favour of purchasing New Zealand manufactures were proving helpful, but these efforts 'muSt be backed by a tariff sufficient to protect the Dominion's workers against unfair competition, particularly dumping. It was regrettable, the president said, that some of our leading farmers did not appreciate the fact that they would strengthen their own position by the development of local industries, which would correspondingly increase the local demand for farmers' produce. Financial stringency and unemployment, due to over-importa-tion, could be obviated by the progressive dftvelopment of local industries. As the Minister of Industries and Commerce, Hon. A. D. McLeod, •was also a representative of the primary interests, he had a rare opportunity to co-ordinate the interests of the farmers and the industrialists, remove misunderstandings, and bring into operation a truly national policy.