TRADE OF THE WEEK.

New Zealand Herald, Volume LXV, Issue 20111, 23 November 1928, Page 11

TRADE OF THE WEEK.

WHOLESALE AND RETAIL. SOUND STATE OF BUSINESS. PRODUCE MARKETS' REVIEW. The wholesalo houses have had an exceptionally busy wepk, hut nothing more than they could expect at this time of the year, having regard to the prosperous condition of the primary industries. With theso setting the pace for active trado.there is a general feeling of disappointment that business is not auready " booming," and the general explanation is that until the immense proceeds of tho export products are actually in circulation' tho trado of the Dominion will not rcaljy reflect its undoubtedly strong position.

Ouo merchant contended yesterday that money does not do much good until it circulates, but that when it finds its way into development of farming enterprises, for which land values aro now sufficiently stabilised, it will bring in its train a great activity in business. In tho meantime tho extra trado being done just now is merely in anticipation of tho Christmas requirements, and these arc still being listed with more caution than tho conditions in the country seem f to warrant. Several wholesalo houses have had to work overtime occasionally, but that is quite common at this time of the year.

Retailers arc gradually receiving more business, but thero is nothing , exceptional, and when it is divided up between tho much greater number now in business some aro inclined to be disappointed. However, tho Agricultural and Pastoral Show generally marks tho commencement of tho Christmas rush, and retailers aro all making their preparations for much busier conditions for the future. - ■ ;

Drapers arc making an attractive display of seasonable goods. Hardware houses, are rather busy with farming orders, hut, they- still lack the building orders that usually corno during the spring. HOUSEHOLD GOODS.

. Hard ware houses report increasing sales in aluminium Roods, as they are now so cheap as to displace the old style of iron makes. Brushware_ has been selling well lately, doubtleiis encouraged by the usual spring cleaning. Hedge clippers and gardening tools have met with an exceptionally heavy demand during the past few weeks.

DRIED FRUITS FOR CHRISTMAS. \ The position has been improved by the arrival of the Marama from Sydney, with consignments of Mediterranean fruits, and the Kair(ingn is duo from Melbourne to-day with much-needed consignments of Australian dried and canned fruits. Californian should he here next week in full assortment, but Australian sultanas are still booking heavily, in spite of the lower quotations offering in the various American varieties of raisins. Spanish muscatels have arrived, and nearly all are already -into second hands, while Californian will be distributed very rapidly when they arrive next week. Figs and prunes are expected in full quantity next week, but new dates are not likely to arcive much before Christmas. Local slocks of dried apples are rather low. but they are not selling very heavily, probably on account of fairly cheap price? for fresh local apples from cool store. The latter are being retailed at threepence upwards, a favourable price for this time of the year. Sicily almonds at lower costs are due shortly. Crystallised cherries are as dear as ever. CHEMICALS, Bakers are facing high costs in several important materials, which go against the low prices for raisins this year. Cream of tartar has advanced, and seems likely to go higher. Citric acid has experienced a sharp reaction of about fivepence a pound, but it is still well above the ÜBual rate. EASTERN GOODS. Inquiries show that importers have cut their indents for woolpacks very fine, and several transactions between merchant and merchant have been necessary, in order to make the available stocks go round. Prices arc a little lower' than last year. Kapok and castor oil are higher, but favourable quotations aro still offering in Singapore pineapples, sago and tapioca. Chinese preserved ginger is much dearer, and the local manufacture is likely to follow suit. TEA. At the sale in Colombo on Tuesday about 2,000,(XX)1b. were offered, for which there was a good general demand, with the market for all grades firm to dearer. Quality on the whole was rather poor, especially in regard to low grown teas, but tho higher districts sent in some fairly' good lots. A comparatively small catalogue will be offered next week. EGGS. Unchanged at Is Id retail for duck egga and Is 2d for hen eggs, with continued supplies on a very large scale. The quantity received for export has not been sufficient to make an impression on tho local market, which remains lower than it has been for many years. London advices point to the Government guarantee being required to make up the deficit on New Zealand exports. POTATOES. Old are now quite off the market, but new are arriving in increasing quantities and improving qualities. The price is gradually falling, and this may be expected to continue for some time, for there is u fairly good crop. The growers are obtaining i'l3 10s to £l4, on trucks, at Pukekohe, the wholesale rale ex Auckland store being ljd to 2d, but soino greengrocers have a line which they are featuring at 1 Jd. < A good outlet is being found in Taranaki and further districts,' even in the South Island, where a luxury price makes sales very attractive to the growers. However, this cannot last long, for some early lots round Christchurcli are now ready for digging, and this will cut off supplies from Auckland. ONIONS. Canadian are selling slowly at 30s a case, but tho continued high price is limiting the sale, especially when other vegetables are so cheap. Tho Kairanga is alnlost due with new season's Australian, which will be available by Monday. Canadian have dropped so much during the past fortnight that importers of Australian will have to sell against keen competition, and may have some difficulty in clearing themselves. The new crop is looking very well, but will liardly be ready commercially before JanuOATS AND CHAFF. Prices are steady, with demand moderate, chaff finding a fairly good outlet in tho country. HAY. A good crop will be gathered Ibis year, although most districts could have done with a little more rain during Novomber. Some farmers are cutting already, and it fa expected haymaking will be actively carried on next week, after farmers have finished with the show. They generally find it pays to cut early, to give the fields a chance to recover before the heat of summer sets in. WHEAT. The market is inclined to weakness, with nothing to hold it up except tho sliding j of duty. Apparently there- is a (jood enough harvest in sight to provide for all the Dominion's requirements next year, and there will also bo* a small carryover from this season. The Dominion is therefore independent of the overseas market, except as an outlet for any surplus, and that prospect is not at all bright. Tho world's market has been fluctuating a great deal lately, the general move being downward, under pressure of a gigantic harvest in tho Northern Hemisphere, and the prospect of good yields in. Australia and Argentina. The latest returns from the Uuited'Slates put tho harvest in that country ut 900,000,000 bushels, or about 4 per cent, over last year's yield, but Canada's record harvest of G50.000.000 bushels is about 25 per cent, over that of 1927, and is tho largest on record. The crop in Eurojio is about 8 per cent, higher than last year, and the American Department of Agriculture es(iina(es (hat BO wheat-producing countries, responsible for S5 per cent, of the world's production outside of Russia and China, have harvested about 7 per cent, increase over last year. These facls dispose of any chance of dear wheat, especially when it is borne in mind that tho tendency of tho American wheat pool in recent years has been gradually to increase tho carryover from year to yearFowl wheat is unchanged at 7s 9d ex Btore, with - good demand.

FLOUR AND OFFAL. Normal sales are taking place, except that there is rather a dull inquiry (or bran. MAISJE. Apparently there ore now fewer holders in the Bay of Plenty, for the growers aro able to obtain a better price on trucks, about fivepence more than a month ago. A good deal of direct trade is being done with districts served by rail, and any sales from the city aro at o>s Cd ex store. A little aeed maize is slill selling, but the bulk of tho trade is apparently over. FERTILISERS. The mills aro making their preparations for tho heavy deliveries to be made after next week, •owing to tho cheaper rate at which orders wore booked forward- for delivery from December, to February. This is usually the period of slowest safes, but this special inducement has encouraged heavy buying, and quite a large area will bo topdressed during the summer, in addition to all the fertilisers required for fodder crops.