TRADE OF THE WEEK.

New Zealand Herald, Volume LXIV, Issue 19797, 18 November 1927, Page 9

TRADE OF THE WEEK.

WHOLESALE AND RETAIL. BRIGHT BUSINESS OUTLOOK. PRODUCE MARKETS REVIEW. Warm weather and the optimistic outlook produced this week by the higher prices reached by the main primary products have combined to bring about a brighter tone in business. Drapers and clothiers report more active buying, the twp prominent features being the purchases of summer dress materials and holiday requisites. It is thought the extra hour of daylight is largely accountable for the additional sfales in sports goods of all kinds, but drapers notice there is also already pronounced attention given to preparations for the Christmas vacation. This applies particularly to articles which have to be made up, and buyers are making an early selection. Stationery and fancy goods have been quiet, but the latter are now being more prominently featured, in order to allow buyers to do their shopping early, instead of delaying until the Christmas rush makes a labo of shopping. Attractive novelties are offering this year in an immense variety of styles, qualities and prices, and the selection displayed bears out the contention that" stocks are not unduly loaded with old importations. It is stated by those who are in a position to know, that wholesale and retail stocks are either normal or below normal, and that the large importations which appear excessive when only the values are taken into account have actually gone into consumption. New goods are offering at attractive prices, and it is thought that an active trade will now continue right up to the holidays. Contrary to the impressions entertained in some quarters, there has lately been a good turnover in what are generally regarded as luxury lines, such as jewellery,, electro plate and fancy glassware. > ■ ■ The week has been rather quiet in the wholesale, only small orders coming in for sorting up depleted stocks, as most buyers are holding over their larger stock order until next week, when everything will be dated forward into December account, and, therefore, payable after the Christmas and extra holiday trade. Travellers report that most storekeepers are holding only moderate stocks, and tho orders so far received are of satisfactory dimensions. A good season's trade is anticipated, with money much more plentiful than it was during the winter. Hardware houses share in tho brighter trade now moving, and they also are looking for a steady improvement during the summer, especially if there is more activity in residential building. EASTERN GOODS. Rice has been fluctuating a j;ood deal at the mam sources of supply, but New Zealand importations are largely Australian milhng, and these are .so . carefully controlled that the local price remains fairly constant. Sago and tapioca are both a little lower, and further reductions are expected. The same applies to Singapore canned pineapples. TEA. . This is causing considerable anxiety to importers and blenders, for during the week news has been received of another advance of J= d V Ceylon and 25d.in India. Altogether there has been a rise of about fourpence in the last three weeks. Importers are working on stocks in hand, so there is no rise locally, while in the retail the' prices are kept down by an exceptional amount of cutting. Indian supplies are said to be 12,OOO.Oppib. .short since the, opening of the season, and there is no chance of making this up. The great increase in the price seems to be largely due to Russian piu-'hases, that, country having takpn 18,000.0001b. this year, whereas it bought nothing in the open market last year. All this pl-ices blenders in a difficult position, but keen competition has so far prevented prices from being adjusted locally. WALNUTS The market has been more active than was anticipated. Californian growers set their price 3 on such a scale that the largest crop on record was cleared in about a week after opening prices were named. FRENCH PRUNES. Although very few are now imported against the cheaper Californian article, the crop very largely influences the market The output is expected to be about the same as last year, but tho quality hardly as good, on account of the wet season. There is said to be a good percentage of fruit of large size. Prices opened lower than last year, on account of the large carry-over in tho hands of merchants. HAMS. A good deal of booking has taken place for the Christmas trade at very reasonable rates. Supplies are good, but an outlet has been found in Australia, and large Quantities have been shipped. POTATOES. Supplies on Monday were not heavy, but unexpectedly proved sufficient for the demand, for a distinct change has come ever the trade during tho week. Instead of depending on old season's Southern, there has been a pronounced transfer of the demand to the new crop, apparently influenced by the high price of old and the improved quality of the new. Several grocers hnye during the past day or two decided to stock nothing but new, arid this must inevitably result in drastic reductions m purchases from the South for the future. A further shipment is due to-morrow from the South, and another nest week, but both will be small, nnd there is no drop ill the price, which rem tins at 10s 6d to_ lis cx store. Pukeltohe growers are not in n position to supply all the wants ol the city in new potatoes, but fairly large quantities have been obtained from the neighbourhood of Panmure, Mangere and Avontialo. and these are in good condition, realising 2d to 2id ex store, and retailing at 3d to 4d. At the latter price some excellent quality were on sale vesterday. ONIONS. Only normal slocks are held, and this keeps the price steady at 17s 6d to l»s to. Further supplies of Californian are due next week. OATS AND CHAFF. Both are dull of sale, with little of interest moving. Southern holders of oats are rather firm. The market for fowl wheat at Ss 3d, and at this price consumers are buying readilv. The chief supplies are now Australian, nnd there seems to be no anxiety over stocks of old gram, while the' coming harvest should be good in both countries. MAIZE. The South African maize just to hand has been selling well at 6s 6d to bs 8d ex store, based on 5s 9d to 6s on the wharf. The demand has been decidedly good, helped by a dearth of coastal maize, which has quite fallen off. Consequently there is no quotable market for local maize, but if any arrived it would probably realise 5s fid on the wharf. SEEDS. Retail sales of vegetable and flower seeds have much increased lately, but the exceptional demand is now over.. In agricultural seeds the only demand is for root crops, and these are nolj likely to be required in such quantities as usual this year, on ccount of the enormous amount of top-dressing done. Swedes are beginning to sell better, and there is also a good domand for seed maize for green feed. AUSTRALIAN PRODUCE. (Received November 17. 8.15 p.m.) A. and N.Z. SYDNEY, Nov. 17. The following are to,day's quotations on the Sydney produce market:— Wheat. —At country stations, 4s ex truck, Sydney, 5s 4d. Flour.—Local, £l4 ss; for export, £l2, f.o.b. Bran.—£7. Pollard.—£7 10s. Oats.—Tasmanian Algerian, 5s 3d; white. 4s Qd. Maize. —Yellowy 4s 9d to ss. Potatoes.—Tasmanian, £3 10s to £5; local, new, £ll. Onions. —Victorian, £6 to £9. Adelaide prices are:— Wheat.—Growers' lots, old, 5s 4d to 5s sd; new, 5s Id to 5s 2d. ! Flour. —Bakers' lots, £l3 12s 6d. Bran.—£7 15s. Pollard.—£7 7s 6d. Oats.—None offering.