TRADE OF THE WEEK.

New Zealand Herald, Volume LXVI, Issue 20234, 19 April 1929, Page 9

TRADE OF THE WEEK.

WHOLESALE AND RETAIL.

BUSY TIME WITH ORDERS.

PRODUCE MARKETS REVIEW

Increasing business in the wholesale is the feature of the week, buyers coming in with larger orders for next month's account. These will have to be delivered by tfie soft goods houses this week, and by the general merchants before Anzac Day intervenes next Thursday, so all the packing staffs are kept very busy. Retailers have been moderately busy, with np pronounced features. . Hardware houses are turning out a fair amount of orders, and they look forward to the country trado showing a further increase as the farmers become less engrossed in dairying work. Fencing is due to commence next month, and this always brings in large orders for wire, to bo erected during the winter. Farmers are this year getting the benefit of low prices, caused largely by the great number of importing houses which now cater for the trade. This also applies to other heavy lines, such as corrugated iron, of which a good deal has been sent to the country districts lately.

litON AND STEEL. The British markets remain fairly firm, influenced by a slight, but' steady, improvement in the demand. Manufacturers are also hopeful that the industry may eventually receive some' help from the "safeguarding" policy which has been adopted in regard to other industries. There is a sharp difference of opinion whether it would permanently benefit British trade. A recent ballot among' members of the Sheffield Chamber of Commerce showed that 515 were ill favour of safeguarding iron nnd steel, arid only 4(j against. From members who are actually in the trade the voting was 20S for and 15 against.

' COPPER. The recent sensational rise in the price, although only a portion of it wad maintained. has drawn attention to ilit enormous increase in the use of this metal in recent years, and of the '•ftrmense j roportion now taken by vhe Unifikl States. Since tl.e war. that country has been able to absorb more than all the reiit of the world put together, although the increase has net been quite bo.pronounced lately. A London firm has analysed tho annual consumption in America and the rest of the world at different periods ns follows, the quantities being in thousands of tons: - 1880. 1000. 1910. 1020. 1928. USA. . . 2ft 172 310 GO'! 900 Kest . . 103 341 589 466 800 Total . . 131 513 9-29 1072 1700 Last year the production was -10.000 tons short of the consumption, but that does not appear to be tho cause of the sharp rise. It was largely due to the consumers buying heavily during January and February, at the first sign of a firming market, to get in before there .vas a still further rise. Being largely of a speculative nature, this could not last, and prices suddenly gave way again.

PAINT OILS. Linseed oil is firm for forward delivery, but while lead has responded l to the fall in lead, and another small reduction has taken place. A good deal of painting is going on at present, whenever the weather allows. SICILY ALMONDS. Spot stocks are very low at present, so the easier forward quotations are not yet reflected here. ' DRIED FRUITS. An increasing demand is already coming in, even before the winter commences. South African apricots are selling at favourable rates, which cut out the Californian article, and this year peaches have also been fairly heavily imported, as they sell a little cheaper than apricots. Californian sultanas are making a strong bid for patronage. against the Australian fruit, and are 'again offering at very low rates. Most buyers seem to prefer giving a little extra for the Australian, but Mildura growers will have to pay particular attention to keeping up the quality, upon which their reputation was founded. Californian prunes are again very cheap for the winter trade, and even such large sizes as 30-40 are ruling at quite an attractive rate. Figs are rather neglected just at .present. Dates are cheap, although a little .liicher than formerly. and they seem likely to continue selling well during the winter. CANNED FRUITS.

Australian and South African importations are not leaving much room for Californian this year. Both are offering at, low rates, Australian is full variety, although specially in peaches, and South African chiefly in apricots. The quality is giving general satisfaction.

KG OS. As anticipated earlier in the week, tho market has firmed again, and yesterday all the lower retail prices were raised to 3s. POTATOES. Plentiful supplies of Southern have arrived, but the market holds rather dull, on account of so many good lines offering at Pukekohe. As these are of a quality showing a decided improvement on March diggings they, arc proving very convenient for rail orders. Merchants are able to sell at £7 on trucks at Pukekohe, whereas they have to ask £3 5s for Southern. The latter are firm in Canterbury, doubtless on the -strength of a possible demand from Australia, but the only orders actually received so far are for transhipment to the Islands, or else for ship's stores.

ONIONS. Holders remain firm, and they are in a good position. Weekly orders for Pukekohe onions are reaching tho city from Sydney, and these ore steadily reducing stocks. However, Southern are arriving fairly regularly now, and all kinds are quoted at £lO ex store. Forward business is being booked in Japanese onions for July and August delivery. and in American- for September to November delivery, tho price corresponding favourably with last year's rates.

OATS. Demand is dull at 4s 5d ex store

CHAFF. The market js a little firmer in the South, and the local quotation has advanced accordingly, merchants now asking £9 10s to £9 15s. The quality of the Canterbury consignments shows improvement, but Marlborough chaff hardly seems as good this year, doubtless owing to the broken weather during harvest.

WHEAT. Fowl wheat remains in good demand at 7 s 9d. BRA# AND POLLARD. Pollard is extremely scarce, and it has been most difficult to secure sufficient for orders. However, a little arrived from Sydney by Itip Ulimnroa this week, and the position will soon be relieved by the arrival of larger quantities regularly, although importers will have to ask £lO 10s. It, may also be necessary to import bran shortly, but tho scarcity is not yet. acute. MAIZE. A little firmer in Gisborne, and (he local price is steady at 6a 8d ex store.

SEEDS AND FERTILISERS. Very few orders for grass seed have come in during tho past. few days, as the season is apparently over, although garden seeds are still selling well. Good business is doing in fertilisers, and the local mills are delivering large quantities of super and other top-dressing manures.

DUNEDIN PROPERTY SALE.

CITY BUSINESS BLOCK

[BY TELEG It AX 1 !!. —OWN CORItESrONDENT. 1

DUNEDIN. Thursday

One of the largest property deals which have taken place in Dunedin for some time has just been completed, the purchase money being a.little under £40,000. The property concerned is that on which the business premises of Romisons, the Bible depot, Mr: George Hay, and Cookham House stand. . It is situated in Princes Street, between Dowling Street and Moray Place. and has ft frontago to Princes Street of 87ft. Bin., with a depth of 132 ft. and contains one rood 13.3 poles. -The purchasers, have also secured an option over an additional Bft. frontage to Princes Street The property has been sold subject to a lease by Mr. S. Solomon, which has 13 years to run, and this fact has to bo considered in attempting to arrive at the price a foot.