TRADE OF THE WEEK.

New Zealand Herald, Volume LXVI, Issue 20239, 26 April 1929, Page 11

TRADE OF THE WEEK.

WHOLESALE AND RETAIL.

BUSY TIME WITH ORDERS.

PRODUCE MARKETS REVIEW. The broken week has brought heavy pressure on wholesale and retail houses, the former feeling it all' the more on account of this being always the busiest week of the month. Consequently all are looking forward to heavy deliveries of orders to-day, and retailers are offering tho usual special attractions for the long dav. • ' , , /! i:

Provision houses note a gradual turn to auturnh and winter diet. Breakfast foods form one of the most pronounced sections changing, oatmeal and all tho popular special preparations being in much heavier demand. Several brands of oatmeal were sailing at lower rates during tho summer,

but the prices have now been adjusted to conform with the standard lines. Soups and soup ingredients are selling much bettor, there being a good call for prepared soups. Lima beans and haricot beans are sharing in tho better trade, although all descriptions are much dearer. This is apparently causing peas to get a luigcr sharo of the trade than usual, helped by the favourable prices resulting from a good crop. A noticeable change is the growing preference for marrowfat peas, rather than the old blue .Prussian peas. As the former, both local and southern, ■are very cheap this year, this trade seems likely to continue all the winter. EGGS. An unexpected fall, took place on Wednesday, when tlio retail price of hen eggs was reduced from 3s to 2a lOd, and duck eggs from 2s Ud to 2s Gd. it is not quite clear why tho market lell, lor supplies did not appear pleutitul, either at auction or privately, out there inay bo' nome connection between the lull and tho arrival of a Canadian consignment. POTATOES. Tho market is fairly well supplied, but many parcels of Southern aro difficult to sell, being of indifferent Quality. Tho best are realising £8 5s ex store, after careful repickmg. The demand is limited by the largo offerings from Pukekohe and adjoining districts, which are being largely used for filling orders by rail, as the quality is quite satisfactory. The market remains very firm in the South, due to- the uncertainty as to how the later diggings are going to turn but, and this makes shippers reluctant to commit themselves for forward deliveries. In the meantime, every steamer takes small quantities to Sydney, as they are very -useful for ship's Btores and transhipments to the Islands, being much cheaper than' Tasmanian, especially since tho floods. ONIONS. i Spot quotation remains unohanged at £lO ex store, but an advance seems likely. Most of the strong holders are convinced that tho heavy export to Sydney now taking x>lace will deplete stocks before the new season's Japanese can arrive, and consequently they appear prepared to wait and see what will happen during the next couple of months. It now seems to depend on whether the export to Sydney will be sufficient to make up for the very good crops in Auckland and tho South. OATS AND CHAFF. Demand is not at .SUI active, and quotations remain unchanged at -Is 5d and £9 10s respectively. Changeable weather during the harvest may make best grades of oats a little dearer, but feed sorts are plentiful. Judging by some of the recent consignments of chaff, the farmers must have had great difficulty in harvesting their oat crop, for there are many signs of prolonged exposure to tlie weather WHEAT. The position is rather peculiar, for on tho ono hand tho growers are well protected by tho sliding rate of duty from any overseas competition, and yet tho large harvest is making individual farmers very ■ anxious to get rid of their grain early, Consequently, there are numerous offers of supplies coming to hand, with no slackness in toe price. Fowl wheat remains firm on the spot, with demand' good at; 7? 9d ex store. - FLOUR. The stability of the wheat market keeps flour steady, and bakers have no inducement to purchase more; than normal supplies. The mill 3 are well stocked. BRAN AND POLLARD. Both remain in email compass, and supplies of bran are being drawn from the South to make up for the shortage. Pollard is scarce everywhere, and has to be imported from Australia, small quantities arriving each iveek. MAIZE. A fair business is still being done in direct railing from Bay of Plenty centres to the "VVaikato and other districts, but merchants are finding increasing difficulty in obtaining adequate supplies, and growers have hardened their price a little. De : mand. has improved since colder weather crime in, and this has necessitated accepting Gisborne quotations at higher rates, making tho local price firm at <;s 9d ex BU ' lo ' SEEDS AND FERTILISERS. The grass seed season Will run out by the end of tho month, tho orders this week being very Small. Permanent, pasture is being heavily topdressed. judging by the large quantities of 'fertilisers still being ordered. By far the principal demand is for super, and the local mills are now extremely busy, but importers are nlao_ receiving a good demand for basic slag. North African phosphates and various special fertilisers.

BANK OF ADELAIDE. DIVIDEND OF 10 PER CENT. A furtlver increase in net profits is shown by the annual report of the Bairtc of Adelaide for the year ended March 25. The dividend at the usual rate of 10 per cent., is payable on the full capital of £1,250,000. Following is a comparison of the bank's results for the last three vears: — » 1927. 1925. 1929. Brought forward .. £24,974 £39.827 £%MC4 Net profits .. 101.644 128.637 .145.141 £129,618 £108,464 £178,905 To reserve .. .. Dividend. 10 p.c. 89,791 115.000 125.000 Carried forward .. £39.827 £33,404 £38.875 Willi the present addition tho reserve will he £985.000. Deposits have increased l>y £93.364 to £6,177.592, while advances have increased by £293,356 lo £5.949,106 and holdings of Government and municipal securities by £100,485 to £817,194. There'has' been a corresponding reduction in cash items of £311.022.

AUSTRALIAN IRON AND STEEL. NET PROFIT- OF £182,090. Australian Iron and Steel, Ltd., in wliicli Hoskins Iron and Steel Company, Ltd., Dorman Long and Company, Ltd., Howard Smith, Ltd., and Baldwins, Ltd., are associated, lias issued its first report and balance-sheet. It covers 12 months' work of Lithgow Steelworks and collieries and Sydney and Brisbane pipe works to November 30, eight months' work of Sydney and Melbourne structural steol and fabricating works and three months of Port Ivembta blast furnace. The net profit for the period was £182,090. In the prospectus of May last the estimated net profit was stated at £213,758, but tho returns for two out of the three activities mentioned are only for eight months and three months respectively. An interim dividend of per cent, per annum paid on preference shares on November 1 amounted to £26,790, leaving a balance available of £155,299, which tho directors rccommond should he carried forward. Subscribed capital is £3.100,007, of which £1,000.000 is per cent, cumulative preference. Paid-up capital is £2,741,037.

LONDON TALLOW SALE. Palgetv and Company, Limited,, report having received tho following cablegram from their London house, dated April 23:—Tallow: The next sale will take place on May 1. v