TRADE IN AUCKLAND.

New Zealand Herald, Volume LXVI, Issue 20309, 17 July 1929, Page 7

TRADE IN AUCKLAND.

WHOLESALE AND RETAIL

THE NEW SEASON'S SOFTGOODS

PRODUCE MARKETS REVIEW

Tho retail clearance sales continue to attract tho most attention, for they arc now Hearing tho end, and buyers aro taking advantage of the bargain prices while they last.

Wholesale houses aro having a somewhat quiet week, except in softgoods, in which a good many of tho new season's indents aro to hand, and arc being prepared for delivery in a few days on August account General merchants will begin booking forward next week, and if the weather conditions aro favourable for a good opening oi tho now dairy season good business is confidently expected. Hardware houses aro putting through a little business in farming requisites, and the demand for the new season s dairy utensils has commenced.

It has often t-ecn thought that the pronounced fall in tho price of tin during 1023 would result in a number of Chinese nnnes in tho Malay States closing down, but the latest icturns on this point show thai the effect v.as negligible, so that full quanti ties may lift expected to continue. An interesting change in the working of the Malayan mines is the increasing interest cf European ownership. Whereas in 1010 only 22 per cent, of the output came from mines managed or financed by European capital, a3'Against 78 per cent. Chinese, by tho boginning of this year the respective percentages wcro 59 and 41. A good deal was heard last year about the supplies of tin running out. but nt the beginning of this year there were 00 dredges in course of construction or proposed, in addition to SO operating. According to a competent authority the ultimate possibilities of the Malayan dredging industry aro not yet in sight. ALUMINIUM. The recent increase in the popularity of household utensils made of (his metal has been shared by its increasing use for electric cables, instead of copper, but no advance in the price has taken place, as tho output is rapidly increasing Consequently makers seem moi< inclined to exploit the position of copper by aiming at a more general us> of aluminium, rather than in getting an extra price while tho demand keeps ho good This policy has been justified by the reaction in copper. COPPER. The extraordinary level to which the price was forced up during tho earlier months of this year brought about a result which all feared at the time. The position was very similar to tho phenomenal values ruling in all commodities during 1010 and 1920, when everybody seemed convinced that they could not possibly last indefinitely, and yet want.d to take full advantage while the prices did last Thi3 very activity in what was practically speculative buying served to hold up prices until the first breath of want of confidence was felt, and then everybodj wante< to get out, anxious selling then dragging prices down even faster than eager buying hao put them up. After a spectacular rise from £f>o to £93, the market in Londo" is now back to about £7O, a big factor in the fall being tho large quantities of scrap metal attracted into the open market by tho phenomenal prices ruling three months ago.

LEAD. This metal has had much tho same experience as copper, extending over almost exactly the same period. After rising about 2o per cent, lo the peak level reached early in April it is now tack to the price ruling at (lie beginning of tho year, which is almost on a par with tho low prices of the last, two year?. It. is very doubtful whether producers will gain anything in the lons run from this violent disturbance of tho market. FIJI PINEAPPLES. Opening prices for new season's canning in October and November, for delivery to commence in January, were named this week. Quotations are a shade higher than last year. but. they are still well below tho cost of Hawaiian, so that they will doubtless again comnjand a ready saie. The output last yeai was sold chiefly in New Zealand. Canada and the United Kingdom, some distributors in the United Kingdom being apparently prepared lo take the lot, so that no difficulty is anticipated in finding an outlet- for the increasing' quantifies each ye: r. SINGAPORE PINEAPPLES. Latest quotations are a little higher, bo that apparently bedrock has been reached. Tho explanation of the recent fall is that th~ combine has been dissolved, and cutting to get orders resulted in tho market reaching prices below cost.

RICE. Most of the Rangoon rice Ly the Sussex is now Sold, and distributors are drawing more heavily on Australian _ dressed, although it is up £2 a ton. This is Burmah rice, milled and polished as required, so that an extra price is obtainable on account of the freedom from weevil. The demand is increasing for Cnliforniau rice, although it is £8 to JTlf) a ton dearer than Rangoon, and eomt is also being imported from Mexico These are a long-grained rice of superior quality and they meet a steady demand nt. the extra price. CANNED HERRINGS. Low prices for 1-loz. tins havo rather demolished the trade in full weights, and rival houses arc now meeting the competition with prices which greatly favour consumers. The demand has increased in consequence, and local stocks are very low, but supplies will soon arrive. The demand is now very largely concentrated on the tomato pack, instead of fresh, the latter now selling very little more readily than kippered. CHEESE. Ample stocks nro held over from last season, and distributors are in a position to buy at very favourable prices. EGGS. A slight recovery lias taken place since last week, the wholesale rate having gono up to Is sd, and even Is Gd is occasionally paid. Retailers have put up their prices to Is 8d for both duck eggs and hen eggs, and supplies are so limited that it looks as if last week'n reduction >as needlessly prccipi^to. WALNUTS. Manehurian sj-e offering at very low rates, but most distributors prefer to pay a little more for Rumanian and Sorrento fruit, or account of the superior quality. Locally growr f.om Marlborough and Aknroa nro again in demand far in excess of the supply, and ore realising a few pence more than th imported qualities. POTATOES The market is firm ..t £0 ex store, and this seem likely, to hold for the rest of the month. Supplies are normal, and quotations from tho South for August and September delivery hnve cased down again, after being forced up for a time. Apparently thcro was nothing to justify this, for the crop wap a good one, tho only unfortunate feature being the variation in tho quality. Some consignment' are giving a good deal of troul.li while others are turning out very well

Numerous inquiries for seed arc coming in, but orders have fallen off Rineo tho severe break in Iho weather, and cannot very well bo expected in much volume until thr land is again fit for planting. ONIONS. Japanese are now in fairly good supply find arc Belling at 17s Gd a crato of lewt. Tho quality is very cood, considering that they wcro ripened off in what corresponds witb early in December in New Zealand, for none has ever been avsilahle here at that time so well matured as the Japanese arrivals just to hand Very fev are now coining in from Pukekohe, and any available arc Belling at £l4 10s. The same price is beins obtained for somo in prime condition which were railed from Palmersfon Norlb and surroundinp; districts. OATS. The market ii> di II nt 4s Gd. with demand so quiet as to stimulate no interest, even thoutrh tho crop was so much smaller than last year's. CHAFb Demand . j slow, but the scarcity of good quali y keep? the price firm at £lO cx store. Official returns make the production equal to last year's, but it is not clear whether this discriminates between prime and poor quality Most likely it includes both; for prime in difficult to secure, whereas the changeable weather at harvest in Marlborough aijd that part of Canterbury . from which supplies are obtainable resulted in a large proportion of th® oat crop being discoloured. A Good deal of this inferior quality is on offer, but merchants are not inclined to handle it. WHEAT. The cood harvest is making growers a little eager to t;et rid of their holding* as early as possible, although tho price is stabilised by tho sliding rate of duty. Howover, only n certain Quantity can be absorbed each month, so possibly some may bo left, over at the end of the season, and no grower wishes to be tho one in that posiFowl wheat if selling well ftt 7s 7d.

POLLARD AND BRAN. Both aro selling well for pigs and pooltry, the high prices obtainnbfo for pigs hav. ing brought in an extra heavy demand for pollard. Local millings nro being eagerly drawn upon, nnd another shipment has been arranged from Australia, which is now on tho Kurow. Numerous calls aro delaying arrival. Bran has shared in a pood deal of tno extra demand, although good pastures carried into (he autumn, and minimised tho quantity wanted for cows. However. a good deal will bo taken up during t.ho next few weeks for dairy cows, especially if cold rain is prevalent. MAIZE. New senson's is now arriving in steadily improving condition, so that more consumers aro prepared to take this at 6s 3d ex store, as it will now carry well. However, a good deal is (till required for crushing for horses and poultry and for this purpose buyers are prepared to pay n iittio more. This keeps old rather firm at 7s, at which prieo the small balances held in the city will doubtless be cleared.

FERTILISERS. With roads and fields in their _ worst wintry condition top-dressing operations are virtually suspended, so that frosb business is mostly for super to bo delivered next month, after tho weather clears Formers nro taking deliver} of their contracts for basic slaf; and North African phosphate just to hand, nnd will drill it as soon as tho weather allows. Boncdust is wanted for nse with potatoes, but supplies aro very short. Blood ar.ri bono is being readily taken in good quantities. FLAX Scutching of last season's milling is still going on. but otherwise operations just at present are very limited. A good many mills will resume operations next month, but it wil!! bo .September beforo much will arrive in the city. By then it. will arrive to bare stocks, as merchants are clearing their purchases regularly for export at tho best prices obtainable Unfortunately the export market is not very bright at present owing to the competition of largo supplies of Manila hemp but Auckland merchants nro giving up to £23 for good fair, £2t> for high point fair £24 for low point atid £22 for common A good deal of low grade flax i? finding nn outlet for manufacturing into binder twine both locally and overseas

THE LONDON MARKETS.

PRICES FOR METALS.

Australian and N.Z. Press Association. (Received July 16, 9.5 p.m.) LONDON. July 15. Tho following are to-day's quotations on the London metal markets, compared with those on July 11: Copper.—Spot, £7l 3s lid (£7l 14s three months, £7l 18s 9d (£72 9s 4id). Electrolytic Copper.—Spot, £B4 (£B4) ; three months, £B4 10s (£B4 10s). Wire Bars.—Spot, £B4 10s (£B4 10s). Lead.—Spot, £22 16s lOid (£22 15s); threo months, £22 17s 6d (£22 16s 10Jd). Spelter.—Spot, £25 5s (£25 10s); three months, £25 8s 9d (£25 15s). Tin—Spot, £2lO 7s 6d (£2OB 3s 9d); three monflis, £213 13s 9d (£2ll 2s 6d). Silver.—Standard, 24£ d (24 3-16 d) per oz:; fine, 25 5-16 d (26 l-3d), THE PRICE OF GOLD. Gold is quoted to-day at 84s ll|d per oz.

STOCK SALES.

PRICES AT HAMILTON. [BY TELEGRArn. —OWN COP.RF.SrONDENT.] HAMILTON. Tuesday. There was a fair attendance at tho Frankton stock sale to-day. Bullocks were ytirded in large numbers, and thero \vas a fair yarding of beef. Sheep were penned in average numbers, and a good number of pigs came forward The auctioneers report as follows: Farmers' Co-operativo Auctioneering Company, Limited.—Wo had an average yarding of cattlo and pigs, and a email yarding of sheep. Good quality prime beef met with keen competition. Fat sheep and piga sold nt lato raies. Thero was a medium yarding of fat and storo pigs, fat pig 6 selling at late rates, while storo pigs were also in keen demand. Wo quote: Fat bullocks, £lO 73 to £ll 12s 6d; store bullocks. £9 17s 6d; /at cows, heavy, £9 Is to £lO lis; medium. £6 19s to £8 16s; light £5 12s 6d to £6 ICs; [forward conditioned cows, £5 to £5 10s; fresh storo cows, £2 10s to £4 10s; heifer calves, good Jerseys. £4 2s 6d to £5 10s: poorer sorts, £3 2s 6d to £3 15s; fat wethers. £1 19s; fat ewes, prime. £1 17s; light, £1 to £1 Is 9d; hoggets, light, £1 7s; medium baconers, £3 12s to £-1 Is; light, £3 to £3 8s; heavy porkers, £2 14s to £3 Is; light porkers, 35s to £2 6s; good stores, 2?s to 31s: slips, 20s to 235: weaners. 12s to 17s Cd: sows in pig, £2 10s to £3 10s. Now Zealand Loan and Mercwitilo Agency Company, Limited.—Prime bullocks, to £ls: fat, £ll lis to £l2 ss; lighter bullocks. '£lo 10s to £ll 6s fat cows, £8 18s to £lO 15s; others, £6 17s Cd to £7 10s; fat wethers. 36s 6d to 3Ss. lighter wethers, 33s 3d to 31s sd: forward wethers, 29s 3d to 80s lOd; baconers. £3 5s to £3 12s; heavy porkers, £2 13s to £3; light porkers, 38s to £2 ss. G. W. Vercoo and Company, Limited.— Fat bullocks, £l2 5s to £l3 ss; lighter bullocks, £lO to £ll 10s; fat cows. £8 ISs to £9 ICs; lighter, £7 15s fo £S 10s: fat wethers, to 393: baconers. from £2 19s; porkers. £2 7s to £2 15s: lighter porkers, £1 5s to £1 15s.

LATE RATES AT RANGIIURI

The Farmers' Co-oporativo Auctioneering Co., Ltd.. reports that a good yarding of cattle was penned at the Rangiriri stock salo on Monday, consisting of mainly storo cattle and dairy cows. Lato rates wero maintained. Quotations:—Forward 2}-year steers, £7 to £7 10s; light fat cows, £6 to £G 12s: forward cows, £5 2s 6d to £5 15s; store cows. £3 17s 6d to £4 10s; others. £2 15s to £3 12s: cows, with calves, £5 10s; Jersoy-crosu heifer calves, £i lis; heifer calves, small and mixed colours, £1 3a to £2 6s; potting bulls, to £5. Dairy cows; Shorthorn and Jersey-cross cows. AugustSeptember calvers, £7 15s to £9 10s; Jerseycross and Jersey neifers. close to profit, £9 to £ll 10s: backward, £8 to £8 10s.

CAMBRIDGE QUOTATIONS. Dnlgety and Company, Limited, report having held their usual tri-weekly stock sale at Canibridgo on Monday. Owing to the inclement weather tho yarding was smaller than usual. Prices were on a par with lato rates. Light fat cows and heifers mado to £7 10s; forward condition cows, £5 10s to £0 2s 6d; light and inferior cows, £3 17s Gd to £4; empty Jersey-cross heifers, £4 10s: yearling Jersey bulls, in low condition, £5 ss; dairy cows of good quality and near profit. £ll to £l4; extra good heifers, at calving, to £l7; inferior cows in calf, £6 to £S; storo pigs sold from 14s to 265; wenners, 6s 6d t-o lis. DAIRY HERD AT MAT AM AT A. Tho Farmers' Co-operative Auctioneering Co., Ltd.. reports having held a clearing sole on Monday on account of Mr. G. J. Duxfield, Matamata, when his dairy herd was sold at a satisfactory average. Quotations:— Jersey and Jersey-cross cows, carrying 2nd and 3rd calf, and practically at profit, £l3 to £18; Friesian cows, £lO to £ls: Shorthorn cows, £ll to £l4; slightly more backward sorts. .£6 .to £lO.

OFFERING AT TAUMARUNUI. [HT TELEGRAPH.—OWN CORRESPONDENT,] TAUMARUNUI, Tuesday. A salo of dairy cows and heifers was held nt tho Taumaruniii sale yards to-dny. Thero was a good yarding? and somo choice cows came forward Bidding waa not brisk. However, most of tho yardin* was disposed of. Best cows made £lO. Following wero iho prices'—Tested Jersey cows, £8 ss; other cows, £5 10s to £10; cows and calves, £7. LONDON DAIRY MARKET. Messrs. Joseph Nathan and Company has received tho following cablegram from its London agents Messrs. Trengrouso and Nathanßutter, 172s to 1735. Cheese, whito, 90s; coloured, 935. Both tho markets are firmer, with improving consumption following fmo weather.

BRADFORD TOPS. Australian Press ABsocintion—United Service LONDON, July 15. On the Bradford tops market no business is passing. Bids aro slightly easier. PROPERTY SALES. Rutherford, Robinson and Austin will offer nt miction at their rooms, JUster Buildiuß. at two o'clock to-day, on behalf of the Public Trustee, einkt-roomed residence at 463, Mount Edon Road.