TRADE OF THE WEEK.

New Zealand Herald, Volume LXV, Issue 20087, 26 October 1928, Page 11

TRADE OF THE WEEK.

WHOLESALE AND RETAIL.

GOOD BUSINESS PROSPECTS.

PRODUCE MARKETS REVIEW. '1 lie iiiiiin interest this week lias centred ill tlie large wholesale deliveries on November account. The general report is that these have heen of satisfactory dimensions, although many distributors are still inclined to wait a little longer. The tone of wholesale business is most hopeful, for although the larger dairy payments, so far made, have apparently heen hypothecated to old commitments, it is anticipated the November payments for October supplies will he on such a large scale as to release a considerable amount for general trade. This will greatly relieve country storekeepers, for they have been giving credit during tho winter up to the limit of their resources. Merchants report they expect the credit position to be considerably improved before Christmas, whereas so far the relief from the greatly increased payments has been disappointing. Most retailors report business on the quiet side, with a decided tendency to limit purchases to actual requirements for the present. Tliero are even now very few purchases being made for the approaching festive season. It is surmised tho election is partly responsible for attention being given elsewhere, and this lias caused considerable satisfaction witii tho fixing of an early date, so as not 10 interfere with tho actual Christmas trade. Drapers are making attractive displays of spring and summer goods, and will welcome more settled weather. The usual Friday influx of buyers will brighten tip trade to-day, if the weather is moderately line.

Hardware houses have had good trade in fencing wire during the past few months, the principal demand for both Imrbed and plain being in English make. Stocks of corrugated iron ran rather low, on account of importers timing their indents to savo the duty, and tlioy are now able to quote from recent arrivals at a lower rate. A jjood deal has been selling lately, chiefly in tho country. General hardware has boen moving off much more readily. The spring season is bringing more orders for paint oils, and they are selling at prices favourable to buyers this year. LEAD. Tho price has been steadily recovering lately, but it is still well below the level of recent years. A world-wide improvement in tho consumptive demand has boon responsible for hardening (lie price, ns there hns boen no encouragement lately to force a largo output. RUBBER. The recent effort locally to stundardiso prices of lyres hns not surprised buyers, for it has been well known that only tradecutting has kept them so low that they wero really below tho parity of cost. It lias not been possible to reduce prices to conform with tho lower rales for the raw material, as they were too low already. Next week will see the removal of the restrictions on export of raw rubber from Malaya, but it is generally supposed this movement has already been discounted in the world's markets, and its influence will probably merely bo in the direction of forcing planters to amalgamate their estates, in order to meet Dutch competition. COFFEE. Prices are receiving considerable attention. on account of the reduced output from Brazil, Where tho crop is estimated at 0,000,000 bags, as compared with 16,000.000 bufiß last year. Naturally there is rather a heavy carryover, and the future seems to depend on whether the Brazilian Government can maintain its control. However, it has done this during the past year of heavy supplies, so tho market may remain firm. COCOA. The market is weak, and heavy selling at falling prices has taken place at the main consuming centres, This is said to be duo to the dissolution of a combine operating in Africa. NUTS FOR CHRISTMAS. Most lines promise to bo at higher prices, and distributors aro fortunato if they have secured a good part of their likely rcouirements. French walnuts largely influence the general market, and theso have been a*failure, owing to a dry season. An early forecast put the cron at 50 per cent, of normal, but later estimates suggest it will bo nearer .35 or 40 per cent. Most .almonds are considerably higher, owing to n short crop in .Sicily, and this has hardened prices for Spanish shipments, although there was a fairly good crop in Spain. . Filbert nutß aro hardening, owing to the Levant nuts turning out only one-thifd of normal. Turkey has had a poor crop, aftor two good years, but tho Spanish crop is only about 25 per cent, less than last year. Now Brazil nuts will probably bo late, and stocks of old aro very limited. PRUNES. Such heavy stocks aro held in Auckland and other parts of New Zealand that tho firming in price in the producing centres has not received tlio usual attention, A short crop in Europe has enabled prices lo harden considerably in California, as it is Ohtimatcd there will be altogether about (30.000 tons less than last year. Tho now season's will therefore be at higher prices, but in tho meantime retailers are well stocked, and are soiling at exceptionally low prices. RAISINS. Probably never before have raisins been sold in Auckland at such low prices as during the last month or two, and a good demand hns resulted. _ This specially applies to the larger sizes, for they have been obtainable at less than tho usual prico for lower grades. DRIED APRICOTS. • Callforninn aro a little higher, 'but South African are so reasonable as to secure most of tho trade. It is difficult to see why apricots should rise, for cheap prunes and raisins havo a strong tendency to keep down tho prices of all dried fruits SALMON. The Canadian output hns been restricted by trouble with tho fishermen in regard to the prico to bo paid for fish. While not securing tho whole of their demand the fishermen havo obtained substantial concessions, and these are likely to advaneo still further tho prico of most of tho bettor grades. EGGS. The market is unchanged since tilt beginning of tho week, at Is 2d retail for hen eggs, and Is Id for duck eggs. Duck eggs continuo in excessive supply, and there is no outlet for them througli export, POTATOES'. Tho market shows further signs of casing. apparently partly duo to Southern holders having less confidence in tho keeping cinality of their stocks. They are offering more freely, and local merchants are able to sell at £l2 10s to £l3, with a likelihood of oven lower prices next week. New tire still worth oloso on A' 27 at, Pukekohe, and this restricts their salo to tho few who aro prepared to pay fourpence reinil. This is a high price, even after considering that thero is no waste. ONIONS. The •disconcerting information that the Aonmgi from Vancouver is bringing only one-third of the quantity ordored is giving importers a most perplexing problem, on account of the henvv sales to arrive which aro already booked. A fow wholesale parcels have changed hands locally during the past fow days at tOH a crato, but these will not go far toward filling tho orders booked. The quality of tho Australian onions by the Mnheilo turned out. to be unexpectedly good for bo early in the season, and they aro selling at about 27s lid per owl. A fow more aro expected next week. OATS. A further advance hns taken place in the South, for nti explained reason. The local quotation is firm nt >la Sd ex storo for small lines of B glade. Demand is uuiot. CHAFF. A better demand hns como In, nnd this iB being met with Southern at £9 ss. WHEAT. Tho recent advance in fowl wheat lind been maintained, and locul quotation l* firm at 7s 'Jd ex storo. MAIZE. Very fair shipments have arrived from Gisborno nnd tho Buy of Plenty, and tho oiico ex storo remains fit 'is 6d. Larger quantities, however, continuo to come by mil direct, and lately somo parcels have been consigned from the Bay of Plenty by rail as fur ns Whangarei. This is greatly restricting the city trade. FERTILISERS. Tho season is oloso at hand for the usual spring demand for uso with <Iit> fodder crops. Turnips will require largo quanti ties of super next month, and rwedes n fow weeks Inter, nnd ord.c; 3 for potash manures for tho various crops aro also coming in.