TRADE OF THE WEEK.

New Zealand Herald, Volume LXIV, Issue 19601, 1 April 1927, Page 9

TRADE OF THE WEEK.

WHOLESALE AND RETAIL. NEW FINANCIAL YEAR. PRODUCE MARK77S REVIEW. Now that stock-taking and bank-balan-cing are over, tradespeople are looking for a little improvement in conditions, for most of them report a measure of disappointment with business recently. Fortunately, the new financial year opens with brighter business in the retail, largely owing to the near approach of Easter causing shoppers to take advantage of almost perfect autumn weather to secure theif requirements. The drapers are making a very attractive display to . meet the special necessities of the colder weather. This is bringing a great number of people into the city, from which influx most, departments arc reaping some benefit. Hardware houses report no improvement at present, fchefe being only a dull inquiry from the farmers, and building materials are quiet. It seems unlikely that implements will again sell so well in this province, now that farmers have in so many cases given up the old system of breaking up permanent pastures every few years, for the substitution of topdressing for ploughing and resowing requires very little in the way of machinery. Merchants are more hopeful of an improvement coming by way of activity in building, if finance can be arranged. The general report is that money is not scarce, but it is being put into the wrong avenue to make business and production active, so that a good deal depends upon the attitude which will be adopted dur ing the ensuing financial year on the part of those who have the large sums which are apparently available for investmeiat. At present a very cautious attitude is being followed by holders, and this keeps money from circulating as freely in trade channels as business people would like; The wholesale houses report having handled very fair business for April account, but a good deal of this was due to the very cautious buying on the part of country -storekeepers during previous months. Orders are mostly for small quantities again, except in the case of those who always get in extra supplies before the winter comes and makes the roads impassable. TEA. At the usual weekly eale in Colombo on Tuesday the auailty was generally inferior, a, condition wliich is -usual at this time of the year, and is likely to prevail for another two or three months. The market was inclined to be easier, common sortfi being down by one to three cents. SYNTHETIC WOOL. An American authority states that this title is a misnomer, as it is nothing more nor less than artificial silk staple fibre, cut into short lengthß instead of being produced in a continuous filament. The opinion is expressed that real wool can never be supplanted by a fibre so obviously impotent against wet, and affording only mediocre warmth. However, the substitute may become useful as a cheapener. reducing costs and making up a showy-looking article for those looking mainly ■ for appearance. It appears that the real article has little to fear on the whole from the synthetic, provided wool keeps at a fair price, even although there may be a certain liking for the artificial in some European areas. MOHAIR. This is being largely used in the automobile industry now, on account of durability and non-retention of dusfc. Mohair will always outlast artificial silk, but until the general public realises this the former must feel the strain of competition. EOSIN. The market has had a sharp decline in the low grades, and prices are now lower than they have been for several years. The demand from Europe has apparently fallen off. and this keeps stocks large at the producing centres, although the new crop has not yet begun to come in. TURPENTINE. This has also declined, and is now at a much lower basis than during recent months. Supplies are not very abundant • but the world's demand has not been as large as anticipated, and prices have sagged accordingly. The general impression is that bedrock hna been reached and that any move will bo upward. COTTON. ■ The enormous American crop, of which only about 75 per cent, is required, has kept prices very low, and all producing centres have been considering plans for reducing the output. The United States Government is also considering various plans by which the surplus of nearly 5,000,000 • bales can be carried over to another season. This has already _ had some little effect in stabilising the price, and there has even been a slight advance from bedrock rates. The position of the raw prodfcot. however, does not appear at all strong, for the demand for finished textiles has not come up to expectations, and manufacturers are complaining about the dull conditions of trade. COTTONSEED OIL. This fluctuates considerably, but it reflects the conditions brought about by ths enormous cotton crop, and is lower thai, for many years, It also seems likely t<> affect most other oils during the year. j ' • COCOA BEANS. There is still great activity in this line, there being a heavy demand in America and! Europe for all. that is being produced, Stocks in all centres are only moderate,, and this keeps prices high, With consequent! advantage to growers in the Islands. EGGS. The increasing scarcity is steadily hardening the price, and retailers were firm yesterday at 2s lOd, with every probability of a further rise in the near future. The approach of Easter is reported to be largely responsible for the extra demand which ill meeting reduced supplies. There is every expectation that the price will continue to rise until May. POTATOES. These continue scarce, owing to the difficulty in getting good quality from Puk«ikoho, while really well matured are also available in insufficient quantity from Canterbury. In another week or so the late crep in Pukekohe should be about ready, and after the niiddlß of the month it is expected the heavy crops in Canterbury will bo coming into the .shipping ports in ample Quantity, Quotation this week for fairly good auality is £8 10s ex store, but most buyers are examining rather carefully the samples offered at present. Growers have apparently abandoned all idea of finding a market in Australia this year, as full quantities are now obtainable on the other 3ide at reasonable rates. This will keep the price here down, as all who have any will be ready to sell as fi).st as possible. ONIONS. Quite a drug on the market, as it is impossible to eel! the quontities available, even though no more are being brought from the South for the present. Merchants are quoting £G 5s ex store, but the demand is very slack, an. so many households have a, small quantity of their own growing which will last them for a few more weekß. Export seems out of the question, except a few to the Islands. OATS. Very restricted business is reported ».t 3s lid ex store, but the market is :aow steady in the South. CHAFF. Canterbury chaff is arriving in ample quantities for the limited demand , that pievails while pastures uro so good, and the market is weak at £9 10s to £lO. Very fine well-matured quality is also arriving from Blenhsiixs. and the price is so lew that local is neglected, except for business which pan bo supplied by rail from station to station, instead of eomitis into the city. wheat. Fowl wheat is a little cosier in the South, owing to growers having apparently abandoned for the present any hope of relief froi*i the Government in the way of raoie protection. Supply and demand will therefore moat likely determine for the future the basis for prices. In th® meantime ruerchftnta are importing from the South only sufficient for immediate requirements, nns the orice is steady at 7s 6d ex store. Trie whole position of wheat is uncertain this year, but it seems just possible that hte harvest wi'l be enough for all requirement, in which case the price will be independent of Australian fluctuations. FLOUR. Business is now in the hands cf the loci! mills, as Australian canno? be im- ■ ported in opposition at present prices. j

BRAN AND POLLARD. In plentiful supply, above immediate requirements. but it is expected good mmnti* ties will be taken during the winter, air there are hopfa of tarijely extending the pis: industry. Local mills are quoting low ; enough to keep out Australian, so not much f business is passing through the merchants. BARLEY. Chevalier barley< is offering at" 5a 8d to bs, according to ouulity, and this is considered so reasonable that it is attracting: the attention of pig-feeders, especially those who .favour tie American system of uaints gram. MAIZE. In short supply and it looks as if there will be some difficulty in obtaining this lairgor quantities required during the winter, The market has. hardened a little, and th« latest consignments! realised 7s on the wliarl in wholesale lines. It seems impossible, however, to relievo the position at present by importing, for no cheap supplies am quoted. FERTILISERS. An exceptionally heavy demand is _ reported for superphosphate and kindred linen required for top-c'.re*sing. Farmers aro steadily booking for both immediate antl forward delivery, tins low price being an added attraction this year. All reports from the Waikato refer to the farmers talcing advantage of the present conditions to improve their pastu:;e3. FLAX. ! : Demand keeps up, buf prices are rathiur dull. . Millers are now turning out good I quantities, as conditions have been fairly favourable for both milling and drying. FUNGUS. Buyers are still operating for export ait lOd to 13d for dry samples. The markttt is rsitrisM- sensitive, on account of the political position in China.

FLOUR FROM AUSTRALIA. QUOTATIONS FOR EXPORT. [BY TELEGIt.iPIL —PRESS ASSOCIATION, j WELLINGTON, Thursday. Tho Department of Industries and Commerce has been advised by cablegram from Sydney that the present prices of (lour for export, from either South Australia, Victoria or New South Wales, is Jill 5s per ton. the prices of bran amd pollard in South Australia are both quoted at £5 15s per ton. In Victoria tlbe price of hran is £6 per ton and the price of polla.rd £7 per ton. In New South Wales '.be price of bran Is £7 per tea, and of pollard £6 10s per "con. The latest quotation for wheat, f.0.b., s.i., from South Australia, is 5s 4d; from New South Wales, 5s sd; and from Victoria, 5s 4d. LONDON WOOL SALES. A. and N.Z. LONDON, March JfO. At the London wool sales to-day th«ire was an average selection of Merinos aiid a good lot of greasy crossbreds and slipes. The market was very firm and there was good general competition. A New Zealand clip, "Belmont,sold aft 18^d to 17d. LONDON WHEAT MARKET. A. and N.Z. LONDON, March 20. Wheat.-—Cargoes are firm. Pacific n.ad Australians are held at 3d advance. Demand, however, is slow. The Ben Cf>rlic's cargo realised 53s 3d. Parcels are steadily held and occasionally dearer, Ibut trading is poor. A cargo by the Balrana.id realised 52s lOJjd, and 2000 tons fcy tho Tennessee sold on the Continent at i')2s 9d. Liverpool futures: March, 10s 10£ d per cental; May, 10s 3d, cargoes 45s fid; July 10s 2 l-8d; October 9s 11 5-Bd.» CARPET MAKING. AN AUSTRALIAN PROJECT. [from our own correspondent.] SYDNEY, March 25. There is a proposal to build a factory at Wagga, midway between Melbourne and Sydney, for the manufacture of high grade carpets. At the present time Australia imports about £3,000,000 worth of carpets annually. The retail prices are comparatively high, and could be considerably lowered, if these were manufactured here. Experiments that have bean carried out show that it.isi quite possible to fabricate here just as good articles as those made overseas, and even under the present Federal tariff, there is ample justification for manufacturers to do so. EMPIRE ADVERTISING. BIG NEW ZEALAND DISPLAY. [from our own correspondent, 3 LONDON, Feb. S!3. The largest .British Advertising Exhibition ever contemplated is now being organised in London by the Advertising Association, under the presidency of tho Rt. Hon. C. A. McCurdy, PC., 81.C.. and it has issued invitations to attend to affiliated advertising clubs throughout the Empire, It will be held at Oiyiapia in conjunction with a convention, at the height of "The (Season"—from July 18 to 23. Over 2000 advertising experts from all parts of the world are expected to attend. « New Zealand will have a peculiar interest in tho exhibition, as the Empire Marketing Board has taken the largest and most central position, and is arranging to give the British public the finest exhibition of New. Zealand produce.yet held in London. Already half of the 100,000 square feet of floor space has been !«t to Home and Dominion newspaper and general advertising interests. THE RUBBER OUTLOOK. POSITION IN LONDON. According to cable reports, London' stocks of rubber have been increasing for somo months past. At the beginning of the present month they had been raised to 58,531 tons, but the London holding is ceasing to be . regarded as a menace, says the Sydney Morning Herald, as it is generally believed that a considerable part of the accumulation is on American account. Twelve months ago the stock figure was round about 8900 tons. At a company meeting held in London last January, Mr. Eric Miller expressed gome interesting" views' as to the -rubber outlook. He stated that the rate of export would probably be reduced to 70 per cent, at the end of January. He did not believe that the industry could afford to allow any reduction below the rate if "fireworks" were be be avoided, and he considered that this was sufficiently appreciated. Manufactures must maintain the price in the Febrrary.April quarter at over Is 9d, and could easily afford to do this Tyre prices were net too high, and stocks of rubber in London were then at a level which could be described as sufficient, though none too high in view of tho fact that exports will soon be on a 70 per cent, basis with the wintering period at hand. STRIKES IN GREAT BRITAIN. LAST YEAR'S HIGH RECOBD. The Labour correspondent of the Times says that in 1926 there were fewer industrial disputes than in any other year since the statistics were first recorded—a period of nearly 40 years But the time lost, was for greater than in any other year. The number of working days n consequence of trade disputes was 162,784,000. ■There are approximately 12,000,000 workpeople insured against unemployment. The average amount of time lost through disputes by the individual insured worker was 13A days or 21 working weeks. But in point oSi fftct the number of workpeople involved in alf the disputes was 2 748.000 and the average amount of time lost by them was 59 days The general strike, in which 1.580.000 workpeople took part, was responsible for the lass of 15,000,000 days. The mining industry dispute was responsible for the loss or 146,992,000 working days..