TRADE IN AUCKLAND.

New Zealand Herald, Volume LXIV, Issue 19627, 4 May 1927, Page 9

TRADE IN AUCKLAND.

wholesale akd retail. QUIET CONDITIONS : PREVAIL. PRODUCE MARKETS REVIEW. Inquiries regarding trade since Easter disclose the fact that while some departments have had a heavy booking on May account others have been comparatively quiet. Necessities have moved off vveli, provisions being in steady request, while tobacco merchants report a normal demand, but anything in the nature of a luxury is meeting with a dull inquiry, except on time-payment. The terms of these sales are sufficiently attractive to the vendors to make them push business on this system, and it is stated the* list of articles sold in that way has been steadily growing. Most departments report extreme caution on the part of buyers on ordinary, terms, there being a distinct tendency to limit forward commitments, while sellers cannot very well afford to have more on their books than usual. Imports are being gradually reduced, but they are still heavily inflated by sales on time-pay-ment, which would otherwise have been postponed. The general comment on trade at present is that while there are numerous sales they are mostly in small amounts, thus making the aggregate turnover somewhat disappointing all round. - COTTON. Quite a change has come over the market for the raw material, following the slump in prices occasioned by the record crop in America. Au advance of fully a penny per pound has taken place, due to the increased demand for shipment to' Europe and the arrangements made for carrying over a portion of the last crop into this year. There has also been a larger domestic demand, so that the general condition of the market for raw cotton shows, a decided improvement. There has been a good deal of discussion in regard to reducing the planting for this year, but so far nothing has been decided. The recovery in the raw material has had its effect on cotton manufactures, and it is stated that, these are decidedly firmer, with some descriptions higher. Some American manufacturers have disposed of all their stocks, and can now only sell' for forward delivery..- ' , ; TURPENTINE. Lower prices have been ruling for a brief period, but a recovery, of $ few pence per gallon has now taken place,' with every expectation* that the,, market will go still higher. Against this, however, ~must be set, the fact that , the new producing season is now 'at hand. : COCOA BEANS, ■ ' Activity in, this line continues, and very-; heavy sales have recently been made at advancing prices.". The demand for Europe ib large and the. supplies are not at all excessive/' " •' « v LEAP. The opinion is held in London that an improved consumptive demand will have to be experienced before the market can improve materially, hut when the mail left there was no sign of this/either in Britain or on the- Continent. .Latest reports from Germany suggest that there is plenty of metal there to meet all early requirements, in spite of the cessation of offerings from American agencies. There have been rumours of a reduced Mexican output, but these are not confirmed. ' ■ IRON AND STEEL. " ' It is interesting to learn by the mail that the British iron and steel, trade is steadily recovering after the coal strike, in apite of the high cost of coke. ' The production of pig«iron in February amounted to 567,900 tons, compared with 434,600 tons in January and 502,000 tons in February of last year. In fact, the production of both pig-iron and steel, in February was larger than in any month last year. Shipyards are said to be actively employed, but rail-makers state that the volume of orders ia disappointing. ... PETROLEUM AND .ITS PRODUCTS. Advices from New ' York state that continued of crude oil is bringing down .prices for, both crude and refined products. Sleeping reductions were made in crude oil .weeV after week during March., all, 'of r the important producing territories being affected except California., A weekly production of close on 2i million barrels, compared with, a little - under two millions during the: corresponding - week of last year, taxed . storage, in .theafield to its utmqst to handle tKe he&W/fl(OT'of oil, /While . large quantities were being shipped put by rail to supplement ' -the inadequate transportation facilities of the- pipelines. There has been a rush to put up .pew storage m the field, as well e.s additional loading racks to ship larger quantities by rail. . '■/ • EGGS., - v Retailers are asking 36 8d tor hen eggs and 8s 4d for duck eggs, but the latter are coming in so plentifuly that the wholesale prices are now 3s Cd and 2s lOd respectively. It look* as if the maximum prices were reached last week, and that during this month there will be a quiet • move downward, unless there comes a drastic change in the weather. The showery weather which continued until the last few days brought on a rapid increase in tbe supply of duck' eggs, and with the Easter demand over there Was been a tendency 'for prices to give way' .a _ little, virile pullet- eggs are also < beginning tjp come in more plentifully. POTATOES. Plenty were available over.the week-end for all requirements, and there has been some difficulty in placing all the substantial parcels sent on consignment, coming as they did on the top of full importations bp merchants. The result .has been a larger quantity than usnal put into store, and the price ex store is now, weak at £7 sa. This week. the Wingatui is discharging another lot, but as the quality now arriving is good there is no hesitation on the part of buyers to take in full quantities. Canterbury and Otago have pood crops, and there will be no shortage in supplies for the rest of the season . . ONIONS.

The difficnlty ih over-supply is now increased by the poor keeping qualities. The continuous wet weather has evidently hastened sprouting, and ther-; is disappdntwent over the condition of some of the Canterbury consignments* It was understood that tTiese were harvested in perfect weather, but some look decidedly green. Local are still fairly plentifu', so there is no need for merchants to give fresh orders in the South, especially when so many householders still have a few of their own growing. The market is weak" at 6s for goo J samples, but most have to be repicked, nnd irregular prices ar<» qootca for anything off colour. OATS. A little firmness is apparent in the South in th 3 best qualities. as these are wanted by the millers, whereas most of the crop tur3,kl out is only feed Quality. This, is in such heavy supply as to bold out no hope of any recovery, and local merchants are quietly moving off small lots at Is ex at-ore ; '"i CHAFF. The only indication that will hold, the market at all firm is the possibility that many farmers winy require their stacked oats for feeding their own liw stocks, instead of chaflßns for sale. However, _ m the meantime, foil quantities are offering, and local Quotation is rather weak at £8 10s to £l,cr store. Very little local chaff is selling, e*cep» between country stations. WHBAV Fowl wheat is a little firmer in the South, but the only influence to warrant a rise is the possibility of tbe tariff assisting the msrkt * Local merchants place no reliance on this, as public opinion st.-0.12iy opposes interference, and tbe local quotation remain* »i 7* Gd » wit* a good demand. BEAN A:S*D POLLAKD. Both are getting scarce, particular!* pollard, and the difficulty tn getting full supplies points to an advance during the winter. , MAIZE. Supplies are m lo* that the price has again advanced, and the latest consignments from the coast have realised 7a 84. to 7s 10d in wholesale parcels, for delivery ei wharf. ECcoTding to quality and grade. Seme consignment* are not altogether satisfactory in this r«*pect. but shippers are very wisely- taking tbe opportunity to get rid of them while they can. A shipment from Java ia expected by tbe Susee*. but the delay in the arriral of that ves**! till next week ia keeping tbi market very high for spot delivery,, and the overseas shiomejst *»iH arrive to empti •tore*. A little business*•■:&*» b»m' booked from. Fiji, to arrive !»■%; fortnight,.,, but noit of tow already a»ld 4 or delivery from toe wharf. '■»-■, JUUKI GUM. Supplies arriving 4tiring April itnesat to SIT torn, md although this is only a fjnixlemte redaction on the 338' tons m during April "of hut year, it eempttwi - mth m torn ie April of im.' For e*eb "tsaaib this year there, ia registered «, ndaeilM on the quantity sen' in dtmrr- the cerresoondinit month of last year, the total arrivals for -the font men in beins IS2I loss, agfti&st 1582 tons last year., very litwe lately bus consisted vf ,fwf whi*» t, m, hut even this has bee® diffScuH \lr quit, : althoueh merchants have allowed the pm« to give way. in . order ..to effect sales Tfce . trade are somewhat relieved M the definite ; intimation that the export tst i t ife# «»- suiag ei* month* is to be only 16s r»*r • cwi.. *» it might ft»v»' been worse. The. istesfc report from New : York states ta*t a Utile interest has lately been shewn la

low srrswd# »tock». bat tridnnr •»»** ccM»«J to limited quasstitie*.. Comjuetitiv* raw materials #««*» to t# at w##Jc prkaw: « definite redaction ba» taken «!*«• m mum lice*. *»d tfew o»sk«« it all tb# tow 4» ealt to M»J kmorr. Bityer* ar* w> i«csrdißs tb«« di»p{«»»«r<j at tfe« »ew «»- tern of control. aod thi* epe:»t« acai&fct sAlea at fail raiea.