TRADE IN AUCKLAND.

New Zealand Herald, Volume LXIV, Issue 19675, 29 June 1927, Page 9

TRADE IN AUCKLAND.

WHOLESALE AND RETAIL. HEAVY TURNOVER IN SHOPS. PRODUCE MARKETS REVIEW. The whole aspect of the retail trade has been completely changed since this time last week, owing to the commencement in earnest of the drapery winter clearance sales. Although a few shops had been featuring special prices for several days most of the large houses chose the long day on Friday to ofrer their marked-down stocks, and a fine day assisted in attracting a very heavy patronage. There was barely standing room at some of the counters, and business continued brisk until closing-time. The same experience was witnessed on Monday, when other houses offered their reductions for the first time. Prices arc judged to be satisfactory this year, and this verdict is supported by the attention given, especially in all those winter goods which can still be usfed for the rest of the season.

Other departments are following tho lead of the drapers, and altogether a heavy turnover is taking place in Queen Street and the other large shopping areas. It is stated that buyers are unusually careful in their choice, and they demand good value tor their money. Tho wholesale houses have completed their special deliveries on next month's account, and in the -case of most houses the volume of these can hardly be described as satisfactory. In the city there is a tendency to keep stocks down to the very lowest, in anticipation of unemployment and general caution restricting sales, while in the country the usual winter slackening has come about in the case of all those districts where bad winter roads discourage transport of anything but necessities.

At the same time the general report that oommercial travellers bring back from the dairying districts is much more hopeful, and it is confidently expected the new season will open up under very cheerful conditions. The returns for the season now closing will be very greatly ahead of forebodings of a few months ago in regard to the price, while the output has been so heavy as to more than counterbalance in the case of most farmers the slightly lower price than last year during part of the season. As advance payments were made on a very conservative basis, the bonuses during tho winter will be all the larger, probably the largest ever known, and this will put farmers in possession of much greater funds than they ever dared to hope for during the early part of season. During July of last year the lowest price in London for salted New Zealand butter ranged from 168s tc 1725, and unsalted was at about the same price, so that the recent slight reaction does not bring the prices much below the level of ; ast year's, and the large quantity still to bo sold will more than make up for the reduction in the price.

Hardware merchants are among those who are awaiting tTie opening of fhe new dairy season for brighter business, farming orders being few and far between at present, while building orders are much in the same position.

IRON AND STEEL PRICES. A strong difference of opinion exists among British manufacturers in regard to the rates now ruling. Consumers are convinced that , prices must fall, to bring them nearer to the parity of Continental quotations. and ,-consequently they are holding of! the market in anticipation of a further drop Cleveland irpn manufacturers, on the other hand, are resisting another fall, maintaining that the reduction in the price of coke has not been sufficient to warrant a further fall ill iron, and as they are rather well off for orders they hold a strong position'. It seems strange that it required the importation of 24.000 tons of Creirnan coke to bring about a reduction is the British quotation, the high price having hitherto restricted the production of iron and steel. As a consequence it is stated that the shipyards are short of material, and although makers are now working at full pressure they are only overtaking arrears of which some represent orders taken nine months ago. In scime districts coke is still dearer, and a recent rise in the Midlands to 22s makes it 50 per cent, above the pre-strike price, thus adversely affecting pig-iron production. WEAK COPPER MARKET. The weak position disclosed in recent reports seems to be due to increased production. without any increase in the capacity of consuming countries to absorb the greater output. The world's production is about 140.000 tons per montht ot which a little over half is produced in the United and nearly a quarter the operations of a ! «SiSpatiy in the latter country h,s,;«e ,t 'SQntributed largely to the distuftxfcMSaiancfe between' supply and consumpFLUCTUATION IN TIN. The market is naturally very sensitive when the price reaches the neighbourhood of £3OO, where it has now been for several months, and the high price has stimulated efforts toward increased production to. such an extent that any appearance of success has a tendency to* weaken the market. The present level compares with £240 two years ago, and it seems to be generally expected that the new concerns in Malaya which are now coming to a producing stage will cause an increase in the total supplies over those of last year. On the other hand expectations of an increased supply from Bolivia have not been realised. On the consumptive side the British demand has been rather quiet lately, and stocks are accumulating, but Germany and France have been taking large quantities. In the principal consuming country, the United States, the position is rather uncertain, for although the demand so far has kept up well it is expected that there will be a restricted sale for one very imporant outlet, the canning of fruit and vegetables during the season just commencing. TEA. The disturbance in China seems to be largely responsible for the recent advance in the price of tea. for the partial interruption to cneap supplies from China has thrown an extra heavy demand upon Calcutta and Colombo. The result is that during the last few weeks common to fine teas have advanced about :id a lb., and as a keen demand continues there is every expectation of still higher rates. The,feature in the demand is the universal inquiry from all the large consuming countries, and heavy weights have been purchased on Russian account, whereas it was thought at first that Russia could obtain ample supplies from inland districts of China by caravan without having to depend«upon the ports which are responsible for most ofethe recent disturbances. AMERICAN DRIED FRUITS. Stocks of raisins in California are getting into such small compass that the price seems likely to steadily harden until the new fruit i 3 ready Hid as that will be later than usual there is a decided tendency for distributors to secure supplies while they can. Apples are offering at low rates, consequent on a good season last year, one result of which has been a phenomenal export of the fresh fruit to the United Kingdom. The dried article is consequently neglected as there will be no difficulty in securing full supplies as required and another good season is in sigbt. Apricots do not promise a heavy crop, but good stocks are left over from last season, quite sufficient to keep the price low until they are all cleaned up. Prunes are a steady market, consequent on the organisation of the growers in a plan to get rid of the whole of last season's surplus. apparently necessary, for the acreage bearing under this fruit will probably be about 10 per cent, greater than last year, and a good crop is promising, according to latest uchlces ' PROSPEROUS CANADA. A report from the Imperial Bank of Canada states that the great Dominion is experiencing more prosperous conditions than since before the war. Employment shows an increase of 5 per cent.., car are up more than 10 per cent., railway earnings somewhat improved, construction greater by 10 per cent., bank debits by H per cent., and other indications show a' continued increase in the volume of business. The situation is more stable and generally more satisfactory than at any previous time during tho present century. Agriculture having been restored to a state of comparative prosperity following the post-war depression, the volume of immigration is increasing. Power developments are being carried on in € I,'g way. and many millions are being invested in various projects. Railway construction is being revived for the first time since the boom before the war, and may be regarded as an indication of restored confidence in the country's future. Increased building and construction activities are indicated by permits taken out and contracts awarded. It i* estimated that

there is in prospect £40,000,000 of work to be undertaken in 1927, showing an incrense of £18,000,000 over the projects in hand at the same time last year. While there is evidence that in some parts of the country the housing situation has been taken care of for the time being, the indications are that the improvement in gsneral business conditions will result in an increased demand for commercial premises, while industrial building continues on a large sca.le EGGS. The price has been steadily falling, as a result of larger supplies, and as these consist largely of hen eggs the former higher price in this line has given way to a parity with duck eggs. Both descriptions are selling this week at 2s id wholesale and 2s Gd retail, with a iurther fall in sight. Prices during this month have ranged about threepence to ninepence below those ruling during the corresponding week of last year, rnd if this indicates an actual increase in the Bize of the llocks kept there seems to be a ireaF.onable prospect of a large export taking place during the coming spring. Profitable export is only possible from about August to October, but as this is the flush of the season ibi Sew Zealand supplies there should be a good outlet for all the surplus, provided the quality is kept up to its former high standard. POTATOES. Local supplies are rather short, consequent on the Katoa bringing only 1000" sacks, wriereas the city requires about 6500 sacks a week. There will be no more until the Wingatui arrives about the end of the wee i, and this keeps the price firm at a parity with Southern values. and merclianto are this week quoting firm at £8 ex store. The price is held up to a high rate in the South, where there seems to be some indignation at the action of Auckland merchants in importing from Tasmania, although the same interests have no hesitation in seeking the assistance of a tariff in support of a high price for wheat. It is pointed out f.y Auckland merchants that they gain nothing by importing from Australia, and it is very likely that less profit will be made on these importations than on Southern purchases, but the only people who will benefit by their enterprise in looking overseas for their supplies will be the general consuming public. 1 ? 0 importation had been arranged, the Auckland public would have been paying a higher pries before now, with no disadvantage to the merchants. Seed potatoes are m much better demand, several good sized orders having been executed this week. Although these are mostly for the early varieties, orders include fair quantities of Gamekeeper and' Northern Star for the early districts near the city, growers being apparently ready to put in their main crop as soon as they get a few days of fine weather. ONIONS. Local are still difficult to, quit, even after careful repicking, when the best are quoted at 7s ex store. Australian have been selling at 12s, but the next shipment is expected to Le cheaper. OATS. Firm in the South, and a steady sale is taking place here at 4s 3d ex store for B grade. CHAFF. Full quantities of Southern are arriving and these are selling at £9 10s ex store, but demand is o'nly moderate. WHEAT. Fowl wheat is firm, and all supplies are now being drawn from the South. Merchants are quoting 7s 9d to 8s ex store, and a good demand is reported. BRAN AND POLLARD. The only feature of interest is the good demand for pollard, and this is being met by further importations of Australian to supplement the local milling. FLOUR. Local mills are coping with the demand, and importations are limited to a few small quantities for mixing purposes. MAIZE. A few small consignments have been arriving from Gisborne, but these are not yet properly matured, and have realised only about 6s on the wharf in wholesale lines. It is expected that the quality will gradually improve, and the price will then probably improve also, but in the meantime most merchants are giving better satisfaction by supplying old grain, which commands 7b 9d ex store. FERTILISERS. Wide publicity has been given to the change which will shortly come about in the selling of locally manufactured fertilisers, the matter of most immediate interest to farmers being the information that the present low quotation for super will hold good for delivery only up to the end of this month. The response has come in the form of a further deluge of orders, farmers being apparently determined to,take advantage of the low quotation of ££ 2s 6d, wherever they were position to take immediate delivery. FLAX. Practically all the mills have now sus : pended operations for the winter, and although the London market is dull it is expected that all the stocks held in the city •will be cleared before the opening of the new season.

MARKET REPORTS. FRUIT AND PRODUCE PRICES. The demand for apples at the Aucklandi city markets yesterday was only fair, prices generally remaining steady at last week's rates. Delicious and Sturmers showed a slight falling-off in values. Hothouse tomatoes showed a drop, the range of prices being 6£d to Is 2d per lb., compared with Is to Is 4d last week. The market for hothouse grapes remains poor, and the lines offered yesterday were hard to quit at 3s per lb., a # dr;, ( j of approximately Is per IJ.> # »sS" i *'i'riday's values. Oranges an increase in price A fresh shipment of ;: tftrus fruit is due to arrive from Sydney on Julv 5. All lines of vegetables were in heavy supply, and a fair demand existed. Values of cabbages and cauliflowers eased slightly, but most prices were on a par with late rates. The egg market showed a steadying tendency, although increased supplies were responsible for a further drop of 2d a dozen for hen and duck. The price is now 2s to 2s lid a dozen, and for the {>ast two weeks lias been considerably ower than for the corresponding period of last year. Farmers' butter was in short supply, and met with a keen demand. The following prices were realised:— FRUIT. Apples, Delicious, 6s to 9s - a case: Stunners, Gs (3d to 8s; Doughertys, 4s 6d to Gs 6d; Monroes, 8s to 8s (id; Ballarats, 8s to 9s; Yates, 6s to 7s 6d. Pears. Nelis and Coles, 8s to 10s Gd a case; Keiffers, Gs 6d to 8s; Vicars, 6s to 7s; Beurre Bosc, (is to 7a; P. Barrys, Gs to Bs. Tomatoes, hothouse. GJd to Is 2d per lb; passion fruit, 5s to 10s a case: grapes, hothouse, 3s per lb; Sydney, white, lfis a case; tree tomatoes, 3s fid to 7s a case; Cape gooseberries, 2d to Id per lb; lemons, local, Gs to 9s a case; Association pack, cured, 10s to 14s a case; oranges, Rarotongan, 14s 6d a case; Poorman, Gs to Ss: American, 33s to 31s; bananas, repacks, 15s to 24s a case. FIELD PRODUCE. Potatoes, Southern, 7s to 8s 3d per cwt; kuinaras, Tauranga, lis to 12s Gd per cwt; local. 5s to Gs a bag: pumpkins, ordinary, 2s 'to 4a a sack; Crown and Triumbie, best, 5s to 7s 6d per cwt; swedes. Is to Is 9d a bag: onions, best Quality, 2s Gd to 3s Gd a bag; others. Is to 2s; pickling onions, 3d to Id per lb; spring onions. 3d to 8d u bundle; cabbages, 2s to 7s a sack; on benches. Is Gd to 4s a dozen; cauliflowers, 3s to -Is a sack; on benches, 3d to 8d each; citron melons, 7s Gd to 9s Gd per cwt; lettuce. Is Gd to 3s Gd a case: rnubarb, 3s to 4s a dozen bundles; spinach, 9d a dozen bundles; leeks, 2d to Id a bundle; marrows, 2s to 3s a dozen; hothouse cucumbers, 7s fid to 10s Gd a dozen; hothouse beans. Is Gd to Is 9d per 11); chokos. 8d to Is 3d a dozen: celery, 9d to 4s a bundle; radishes. Gd to fld a dozen bundles; carrots, parsnips, beet and turnips, Gd to lOd a dozen bundles. DAIRY PRODUCE. Hen eggs. 2s to 2s IJd a dozen: duck, 2s to 2s lid; farmers' butter, in lib pats. Is 3d to Is 4!dCANTERBURY MARKETS. POTATO BUSINESS ACTIVE. [BY TELEGRAPH. —PRESS ASSOCIATION.] CHKISTCHURCH. Tuesday. The potato market continues as the most active branch of trade. A fair number of sales has been made at £5 55,, f.0.1b., s.i., for July, which indicates a drop on the values of a few weeks ago, but the despatch of between 10,000 and 11, COO sacks by tho Wingatui to-night for Auckland is responsible to some extent for tliis development. Auckland is not now likely to come on tho market for a week or two. Values to farmers are unaltered, at from £3 15s to £4, on trucks. Dakotas have been sold to Wellington at £6 17s 6d, f.o.b. s.i. This variety hns been very scarce this year. Wheat is worth 'ss lid, on trucks, for Tuscan, and Hunters, up to 6s 3d. Quantities passing are not heavy. Oats are unchanged, although inclined to be weak. Chaff is also fairly dull A grade Gartons are quoted at 3s 4£d, f.o.b. s.i.