TRADE OF THE WEEK.

New Zealand Herald, Volume LXIV, Issue 19607, 8 April 1927, Page 9

TRADE OF THE WEEK.

WHOLESALE AND RETAIL. OUTLOOK FOR EASTER; PRODUCE MARKETS ' REVIEW. J The wholesale houses still report the same general feature in trade—that orders are very plentiful, but mostly for small lines, showing that storekeepers have small stocks, and that they are determined to keep them in that Condition. The markets do not encourage speculative buying for a rise, and there is a marked tendency all round to proceed cautiously until the future becomes more certain. The quarterly bank returns should be out in a day or two and it is expected they will show a decided improvement in the position, as compared with the December quarter. The March quarter always discloses this feature, but this time the movement will probably be more pronounced than usual, corroborating the frequently expressed opinion that money is plentiful, but that it is not yet going into the channels which stimulate production and trade. Wholesale houses are not expecting a great volume of business before Easter, most of their customers being in a position to postpone their heavy purchases until forward booking on May account commences after the holidays. Retailers, however, are confident of improved activity during the next few days. Provided the weather keeps reasonably fine, there will be a great influx of visitors into the city, even although Easter is late this year, and this always brings increased patronage to the shops. Drapery houses note that some improvement has set in, preparations having already been made for the holidays. Clothiers report a little better inquiry for winter goods, but the demand would have been all the better if the incessant rain had been accompanied by a pronounced drop in the temperature. Speaking generally, prices are a little lower than last year, in spite of the slight rise in wool. Local mills are meeting this by quoting about on a par with last year, but British manufacturers are keenly pushing for business. They are probably very greatly assisted in their low quotations by the sharp fall in cotton, which material usually forms a good proportion of British cloth. Buyers are able to choose from an excellent variety of patterns this year. SPORTS GOODS. Clothiers report greatly, increased attention to sports goods during the past few weeks, and buyers have a very fine selection from which to secure their requirements. Design has been much stimulated by British and Continental makers now having to cater for the growing fashion of using sports apparel as an all-day attire, and this is accounted partly responsible for the increased demand fox wool fabrics. This vogue, sanctioning spor'ts apparel for daytime wear, purports a larger and more varied demand for appropriate materials. This trend seems to be particularly recognised by French textile nouses, as shown by the preponderance of theiir offerings devoted to sports goods for the coming summer. Scores of fabrics are to be found suitable for the activities of the athletically inclined, with softer and more elaborately cSlcorated ones for those who take life less strenuously. To be popular this season, fabrics must have design. Checks are the favourite, but stripes, plaids, dots and flowers are also popular, and it would seem that one or the other muat be used if the fabric is to be in the mode. A feature of interest in the wool trade is the introduction of shawls made of very light-weight fine wools. Thin shawl, also shown in silk, is a new variety, being totally without fringe, and generally with border motifs. REDUCED COTTON PRODUCTION The low price of cotton which has followed the enormous crop in the United States has apparently given a check to the efforts made in recent years to produce within the British Empire a larger proportion of the requirements of the mills in Lancashire. The Egyptian Chamber of Deputies has adopted the cotton law, under which the acreage in this crop will be limited to one-third of the normal for three years.' The Government decided that this is the best way to meet the situation. PRODUCTION OF ARTIFICIAL SILK. The consumptive demand for rayon, or artificial silk, iff- further shown by the fact that a company has sta.rted the construction of a chemical pulp mill in British Columbia. The plant will consist of a number of units, including pulp mill, sawmill. power house, machine shop and miscellaneous buildings The pulp mill will be equipped for an initial production of i about 100 tons of bleached pulp per day i Rayon manufacture in the United States may be said to have commemced in 1911, when the local production amounted to 320.0001b.. this quantity being used locally, in addition to about six timesi as much imported. In 1925 the domestic production had increased to 51,000.0001b., and imports amounted to another 5,000,000 There is now some talk of over production, and prices have been reduced, in order to clear the heavy Btocks, but only moderate business ensued BULK PRODUCTION CHEAPENS COST. British manufacturers.... are encountering strong competition from countries in which bulk production is standardised, with a. corresponding reduction in cost In the olothing trade this is illustrated by a cut ting and trimming' machine, which cute out large garments to the aize required, mid then sews the pieces together so that the garments issue from the machine as a composite wbole. The sysitem may be regarded as an extension of the principle of making paper bags, where the raw material is supplied in sheetii at one end of the machine and the complete bags appear at the other This cutsting machine has an enormous production, but British manufacturers seem reluctant to metal it, as tbev still clinsr to the idea,l of individuality. CREAM OF TARTAR, British makers advise by cable a Bharp rise. No local interest is now taken in American and French cream, as the preferential tariff heavily favours the British article EASTERN GOODIJ Interest is stimulated by the sailing of the direot steamer from Singapore this week, and importers have takon advantage of the low quotations in sago and tapioca to secure requirements, as local stocks are low Singapore canned pineapples maintain the recent advance. It is expected that the canning of pineapples in Fiji will not result in many coming to New Zealand, as the plant has been established in Canadian interests. Most of the output will doubtless find its v.-?.y to Canada, just as the Hawaiian fruit chiefly sells in • <lip United States TEA. <\ little China tea is still imported into New Zealand, and this gives additional interest to the civil war there Any importations consist of small lines of high-class quality, but British imports of China tea are very substantial, and last year there was an increase in the quantity imported While the New Zealand tea trade is almost i entirely with Ceylon, the British trade is j much more distributed, although the recent i tariff adjustment has 'severely cut down the foreign importations which were such a pronounced feature in recent years. British imports for the last ten years compare if under in millions of pounds weight Kroni ' 1926. 1925. India 3711 2911 Ceylon 1-10 132] i China . . ■ 134 10i Java. & other Dutch 64? 53» Otner countries 3 J 3 Totals 4.931 4901 CEYLON TEA. A private cable this week announces that at Tuesday's auctions the offerings amounted to 2.350.0001b. The * quality showed ft fnlling off, but was still very useful. There was a fair general demand, all grades- being slightly easier. Next week (S.fiOO,ooolb. will be offered. . EGGS. -'X ■ Another pronounced rise haß taken place, as anticipated, and yesterday retailers were asking 3s 3d for fresh and 2s 6d for preserved. POTATOES. l'wo shipments from the South have tended to relieve the acute 'shortage, and it has also been possible to obtain limited quantities from Pukekohe ' All available met with a ready, sale at 8s 6d ex store. Next week the position will be a little easier, for in addition to the Katoa discharging to-day the. Wiagatui Will arrive during the week-end. It is not expected there will be any reduction in price until larger shipments arrive after the holidaysThere seems to be some expectation that the large Taffmanian crop will be partly sold in New Zealand, but it is mbre than likely that the New Zealand price will keep low enough to make importation unprofitable, unless there is s« decided tall on the other side.

ONIONS. The market is exceptionally weak, and merchants are now Quoting as low aa 6s ex store. Even this very low price does not seem to have stimulated the demand, but | this is probably because the retail price has not yet fallen in conformity with the wholesale. Auckland is still drawing on Pukekohe and surrounding districts, aa there is not yet any necessity toger.South for supplies. OATS AND CHAFF. Fodder is dull of sale, but a' little more interest is being taken in oats, on account of B grade Gartons being slightly firmer in the South. This is probably only due to sellers being compelled to cover for their monthly deliveries. It is generally believed that there are ample supplies, and that there'is nothing to warrant a genuine rise. Chaff ia arriving by almost every Southern steamer, but demand is Quiet. WHEAT. Fowl wheat is steady, with a good healthy demand at 7s 3d from the wharf and 7s 6a ex store. Local merchants are being well supplied from Canterbury, the quality arriving being very fair. The future is a little uncertain, but buyers seem inclined to take' only for immediate delivery, as the forward offerings are not very attractive. MAIZE. An acute shortage exists, but even at the high price, now ruling. 8a to 8s 6d ex there is a good demand.' This is rather peculiar, as it is well above the price or wheat, but as winter approaches there are ahvays buyers for maize. At present it is impossible to import from Gisborae, and only very limited quantities are available in the Bay of Plenty, but there is a movement to obtain supplies from Java. A number of orders sent to Sydney have not been confirmed, but it is expected some few consignments will be here next week, and they will relieve the position considerably. FERTILISERS. The only feature is the continued heavy demand for top-dressing. Immense quantities of super are being ordered, the low price being a great inducement. PRICE OF FERTILISERS. DISCUSSION IN AUSTRALIA. Current prices for fertilisers in Australia were discussed recently in the Federal Parliament. The Prime Minister was asked why the price of superphosphate in Australia was £5 7s 6d a ton, and the price of th% same quality superphosphate in New Zealand on that date was £4 2s 6d a ton, a difference of £1 ss. In Australia the pnce had been increased ?s 6d a ton, but New Zealand had been reduced £1 8s 6d a ton. The price of rock phosphate, the chief constituent of superphosphate, had decreased substantially, but the price of the manufactured product had increased Mr. Bruce said there was a fertiliser trade war in New Zealand, and that this might be responsible for the low price of superphosphate in the Dominion. "In 1924/1925 and 1925 the price of superphosphate in Australia had been substantially less than in New Zealand, and authoritative opinion was that the present New Zealand price was below the actual cost of manufacture, and could not last." AUSTRALIAN WOOL AND HIDES. (fieoeived April 7, 10.15 pjn.) A. and N.Z. SYDNEY, April 7. The seventh series of wool sales has concluded. The market was exceedingly firm at a lower level than the values recently reported. Prices ruled occasionally in the sellers' favour. The demand was strong. General greasy Merino sold to 35^d. In "the Melbourne hides market there was animated and keen competition, particularly for light and medium weights. Values advanced from par to one-eighth. Other gr&dea were unchanged. AUSTRALIAN PRODUCE. (Received April 7, 8.50 p.m.) A. and N.Z. SYDNEY. April 7. The following are the quotations on the Sydney produce market: — Wheat. —4s s£d at country / stations; 6s Is ex truck, at Sydney. ' Flour.—Export, £ll 7s 6d io.b.; local, £l2 5s Oats.—Tasmanian white, 4s 3d to 4s 4d; Algerian, 4s to 4s Id; inferior, 3s 9d. Maize. —Yellow, 7s 9d; white, 7s 6d. Potatoes.—-Tasmanian, £6 10s to £B. Onions. —Victorian, £5 10s to £6. Adelaide prices are:— Wheat. —Growers' lots, 4s lid, ss; par- < els, nominally 5s 2d. Flour.—Bakers' lots, £l3. Oats.—2s 4d. CHICAGO WHEAT MARKET. A and N.Z. CHICAGO, April 6. Wheat.—May, 1 dollar 35£ cents per bushel; July, 1 dollar 29J cents; September, 1 dollar 27§ cents. LONDON WHEAT MARKET. A. and N.Z. " LONDON. April 6. Wheat.—Cargoes are steadier, following on good inquiry for Australians and River Plates. Rates have occasionally advanced 3d. Parcels are in moderate demand and prices are tending upwards. Liverpool futures.—May, 10s 4|d per cental; July, 10s 27-8 d; October, 9s ll^d. MATAMATA STOCK SALE. [by telegraph.—own' correspondent. 1 •MATAMATA, Thursday. fiie Farmers' Auctioneering Company held its regular stock sale at Matamata yesterday. The sale wa,s very srood all through, oartiouitirly for sheep, of which 1000 yarded. Prices were:—Sheen On account, of Mr. Turnbull, Galatea, a line of good forward woolly lambs, 15s 7d to 16s. On account or Mr. A. J Isles Rotorua; 110 woolly lambs, Ms lid. Stoie shorn lambs, lis 6d to 12s: omall woolly lambs. 10s lid; small store shorn iambs, 9s 3d: big-framed 4 and 5-year-old breeding ewes. 15s 6d; full-mouthed breeding ewo-. 10 s 9d; Romney rams, 16s to <JIs. Cattle": Prime heavy fat. cows, £6 to £6 3s: medium quality fat cows, £& 13b to £4 10s: fresh-conditioned cows, £3 to £3 as; stores, £2 2s to £2 10s: culls, 22a to 30s; bulls. £3 10s to £4 Pigß: Good stores. 85s 395; good slip"!. s3s to . 275; best weanera. 13s to 16s: smaller sorts. 9s 6d to lis