TRADE OF THE WEEK.

New Zealand Herald, Volume LXV, Issue 19931, 27 April 1928, Page 9

TRADE OF THE WEEK.

WHOLESALE AND RETAIL. QUIET BUYING CONDITIONS. PRODUCE MARKETS REVIEW. The short week caused by the holiday on Wednesday resulted in heavy pressure on the wholesale houses, necessitating overtime in some cases, in order to deal with the deliveries for next month's account. These have been on a satisfactory scale in the country trade, having regard to the dry season, but extra bookings for the city were not at all heavy, shoeing that most retailers are content tp work on minimum stocks, buying small quantities as required. Country orders show cautious selection, although the outlook for trade during the winter is brightened by the higher prices at which payments for butter-fat are being made this year. Retailers report business rather dull in moft departments, bat threatening weather occasionally gives a little impetus to drapery and clothing. Raincoats have been selling rather better during the last few days, fawn being the most popular selection. Overcoats are being taken in warmer material, especially for motorists. Even the heaviest are no dearer than last year, although the raw material has risen so considerably. Boots have been somewhat neglected, but this is explained on two grounds. Prices have advanced by 10 to 15 per cent, on English make, and even more on some local, but this was fully anticipated, and many people secured their requirements during the sales, bfi.'ore tho prices went up. It is also admitted that fine weather means quiet trade in boots, and the phenomenal conditions during the past summer have led the public to put off many of their purchases. This should mean exceptionally brisk business when a spell of .broken weather comes in. Hardware merchants are looking for an improvement in building and farmers' orders to brighten up business. IRON AND STEEL. More activity has been enjoyed by Home manufacturers lately, on a.ccount of a hardening in Continental prices, and this has enabled New Zealand importers to give a larger share of their business to Britain. Lately, however. Continental prices have given way somewhat, but not before considerable export business was booked, as well as to domestic users. Included in these were Welsh tinplate makers, who found foreign bars up about 10s a ton. American manufacturers have been very busy since they turn of the year, and prices still tend to move upward, contrasting with conditions a year ago, when they were competitive with British. COPPER. The market has apparently made a permanent recovery from the low prices ruling during most of last year, ivhen the domestic demand in America experienced a pronounced falling oS. This was attributed at the time to the reduced activity in motor manufacture, and although this is only one outlet the resumption of a larger output this year may quite possibly account for the better tone in this metal. WOOL. x\dvices by the mail describe the continued advances in wool prices, Bradford preference now given to crossbreds, owing to the high prices for merinos. Topmakers are firmly insisting oa full quoted rates, and spinners are getting more orders, making all machinery more actively engaged. The outlook is said to be brighter also in the piece trade, with more inquiry and a steadily expanding business. It was thought some time ago that the demand for tine worsteds might have slowed down a little, but such is not the case. The. demand keeps good, and there is less unemployment. Fine grade woollens are selling well, but the lower class cloth trade remains generally quiet. Expanding business promises well for New Zealand, for the clip which was lifted here at such good prices during the summer will apparently all be consumed before the clip is ready, giving a prospect of anothet profitable season for New Zealand farmers. SUGAR. With all the special trade in sugar for fruit preserving now over, sales are back t,o normal again, and not much interest is being taken in this commodity. In America, however, there is a feeling that the continued decline in the price which has also been reflected in New Zealand has now about come to an end, and that the market is a little stronger. It is pointed out that Cuba easily disposed of 300,000 tons of raw sugar to foreign refiners recently, retaining an amount equally large which could also have been sold without any great effort. This indicates a stronger tone, 'as Cuba would not have held back such a quantity unless there was good reason for expecting an advance in the near future. PEAS. The dry weather in Auckland during the summer has created a better demand for peas, both dried and canned. The former have been sold heavily for export to the United Kingdom, but full supplies are available on the local market at a moderate price for the winter. Local canneries have put up a fair amount, but importation is still taking' place, principally from Canada. LARD. After a long period of high quotations in America, prices are now a little lower, due to a larger production. BEANS. The approach of winter is causing a better inquiry for dried beans, and a shipment just to liajid is assured of a good sale. CHEMICALS AND SPICES. Tartaric acid shows a steady advance during recent months, and may go still higher. Spices are irregular, pepper being firm, but nutmegs are lower. EGGS; The recent advance has been maintained, and full-size hen eggs were retailing at 2s lOd to 3s yesterday. A pronounced feature in the market is the determination of buyers to establish differential prices for small eggs, and as pullet eggs are beginning to arrive in much greater quantities they are being aold at a distinct reduction on fullweight eggs. POTATOES. Small arrivals have enabled merchants to work down their slocks somewhat, although there is still a surplus here, and the quotation ex store remains at £7 10s. However, it seems likely that Shippers will soon discontinue sending to Auckland on consignment, and will confine the bulk of their business to f.o.b. sales. Anothor factor in keeping prices a little more steady will be the commencement of supplies of graded potatoes, which should be here next week. Locally-grown potatoes aro most difficult to Hell at any price. ONIONS. Weaker holders in the South tend to bring down prices, their offers being dictated by the indifferent quality of most of the stocks, as they will not stand storing. Local quotation for Canterbury onions is £9 10s, and as the local crop is now held for higher money it is giving Canterbury all the trade that is doing. OATS. Firmer, on account of export demand, but tho opinion is held in some quarters that ChristchUrch is banking too heavily on the British demand. However, there is not a big crop, and any export inquiry at all has a, decided tendency to keep the market sensitive, as a few more orders would again put up the price, Local quotations run from 4s 1 d to <ts lid, ex store, but demand takes up only very email quantities. CHAFF. Trade is quieter, apparently owing to renewed pastures and continued mild weather. Price remains at £9 5s on tho wharf for best Southern, or £9 10s ex store. WHEAT. Southern holders have been encouraged to adopt a firm attitude over their stocks, and the focal price of fowl wheat remains at 7a fid, with every prospect of holding. POLLARD, Very scarce, and recent orders to the South could, not be filled. Merchants have had to turn to Australia for supplementary supplies, and these should "be here in a fortnight. MAIZE BY RAIL. Rather heavy arrivals have come to hand, the opening of direct railway communication with the Bay of Plenty causing some to come by that, route, as well as by steamer. The approach of winter has created a, better demand, and there has been no difficulty itt realising 6s on th» wharf.