TRADE IN AUCKLAND.

New Zealand Herald, Volume LXVI, Issue 20339, 21 August 1929, Page 7

TRADE IN AUCKLAND.

WHOLESALE AND RETAIL.

INTEREST IN NEW GOQDS.

PRODUCE MARKETS REVIEW. The principal feature in Hie retail trade this week is the display of new season's drapery, a full selection of recent importations having been opened since the winter clearanco sales ended. The new goods arn naturally attracting the attention of all those buyers who are anxious to obtain their requirements while a full selection is available, Other departments also report a slight improvement in trade duo to various causes, but chiefly to buyers who havo come to see the new drapery having a general look round when they are in (he city. .Soft goods houses are busy despatching wholesale orders for September account, and this week also sees the commencement of deliveries by the general merchants. So far the orders are in satisfactory volume and are chiefly from the country districts, following upon Ibe exceptionally promising condition of the farming industry. However, it will bo another couple of months heforo the dairy payments are heavy enough to provide much ready cash, so that a continual improvement in trade is expected to take place right up to Christmas, reflecting the larger distribution of payments for butterfat. WOOL. The near approach of another wool season draws attention to the quiet conditions still prevailing in Bradford. Although prices aro now on what is considered a satisfactory basis, they have so far failed to create a better demand in the raw material and top market. In yarns for export a fnir amount of business is being done in Bradford, but spinners generally are having the greatest difficulty in keeping a portion of their plant running. COTTON. The labour troubles in Lancashire have come at a time when trade is very depressed. Manufacturers are certainly favoured by the prospects of a good cotton crop in America keeping tho raw material cheap, and Egyptian cotton is in much the same position, but the difficulty has been Jhe weak demand for export. One hopeful aspect is that other countries have similar anxieties, and it is understood that in America, and also in India and Japan, where manufacturers havo been competing at keen prices, higher wages are being demanded. If this cases tho pressure on Lancashire prices it may help in a settlement. TIN. The market has been fairly steady lately at well over £2OO. whereas two or three months ago that level was considered the very highest at which any attempt at control would be made. It was then considered that there was no reason for a recovery, for amplo supplies were coming in, and recent discoveries point to Canada being a fresh source. Deposits have been found in "lanitoba and British Columbia, the ore in tho latter province being.mixed with copper and sulphate. IRON AND STEEL. Domestic and export orders have kept British manufacturers much busier lately, and it has been necessary to blow in a few of tho blast furnaces which have been idle for some time. The outlook ijn Scotland has been improved by additional orders for ships, including eighteen large passenger and cargo vessels for South America. Naturally this keeps prices steady in all descriptions of iron and steel, one firm having recently received an order for 35,000 tons of rails for the. South African railways, and another firm one for 5000 tons. At the same time it was pointed out by tho chairman of Cammell. Laird and Company, at the annual meeting recently, that in the shipbuilding industry prices were mora keenly cut than ever. Tho plain fact was that there were too many shipbuilding firms in existence, and there was no reasonable ground for hoping that they would all be fully employed in the near future, or indeed over. The problem could best be solved by collective action on the part of the shipbuilders, but they did not at present appear to bo disposed to tako the necessary steps. Unless the home railways were prepared to give British railway stock manufacturers a definite proportion of their work tho dice would be so heavily loaded in favour of the foreign rivals that foreign trade would probably go to them. However, an important step had been taken town rd placing tho steel industry and tho railway and carriage industry upon sound lines, and if rationalisation were pursued vigorously ho thought that _ a return to prosperity in those industries might' bo looked for. The prosperity would not come at once.' Reorganisation on a large scale took a long timq to carry out. and it must necessarily bo somo years before the full benefits were reaped. DRIED FRUITS. A constant increase in the demand is taking place, due to fresh fruit being less plentiful, and also 'o the fact that prices are again very low this year, even though some varieties hare recently advanced. Best Khadrawi dates are retailing at 3lb. for elevenpence, a most attractive price for this quality, while Sairs arc even cheaper. Turkish figs aro very reasonable, and large quantities are being used for cooking and dessert. The old season's are in nice order, and the new fruit will not be here until about October. Prunes have made a substantial advance, but during the period of low prices the public has become accustomed to tho advantage of paying a littlo inoro for tho. best qualities, instead of those with an undue proportion of skin and stones, and this preference is still in evidence. South African dried apricots have been largely imported, and are selling well at a reasonable price. CANNED FRUITS. A somewhat new popularity has been gained by Tasmanian fruits imported in so-called pulp. These are the fresh fruit sterilised and canned without Btigar. and as they are just ready for use they are being bought very freely for cooking. Ordinary pie fruits are also selling well, largely of local canning. SINGAPORE PINEAPPLES. Recent low quotations aro explained by definite information that the pineapple combine has ceased to exist. It is understood that the combine was broken up owing to the increasing number of private sales made by packers. Now that they aro all selling individually they are naturally keen to liquidate slocks and book fresh contracts for the new pack, so that tho public in New Zealand and other countries is getting the benefit of the competitive prices. These have induced heavy buying, and Auckland importers are expecting a large demand to continue throughout the year. EGGS. V Tho market is down again, and retailers this week are asking only Is 5d to Is Gd, while rome have even reduced their prico to Is 4d, which is nominally tho wholesale figure. A vessel is loading eggs for London from somo of tho southern ports this month, but it is not expected that any will be exported from Auckland until September. POTATOES. Tho local market is now almost bare, only GOOO sacks in all having arrived by tho last two steamers, the Kurow and Wingatui. A good many hurried transactions between merchants have taken place in an effort to fill ordeiß. The unfortunate feature is that no more aro expected until Friday, August 30, and by that time tho position will be rather desperate. In tho meantime the local prico has hardened up to X'l2 10s, ex store, but in a few days tho price will cease to be as important as tho problem of getting supplies at all. It was expected that tho usual delny would occur during the race week in Christclmrch, but no importers anticipated that the Interruption would bo so pronounced. Prices have been fluctuating a good deal in Christchurch, with a general tendency to easo down since tho publication of statistics relating to the crop, so it is disappointing to find that this has brought no relief in tho form of larger supplies. Seed potatoes are mtwting with a much better demand, but local stocliß are low. ONIONS. Merchants aro depending on stored stocks of Japanese, ns there is no steamer from Sydney this week, and these are selling at 17s Gd. A few small lots aro being picked up at Pukckoho and other districts, and they are realising almost tho same price, provided that, they arc reasonably sound. From all sources, however, onions now require careful re-picking, for even the Japanese are not up to their usual quality, OATS. Tho market has hardened a little, and merchants nro now (taking 4s M to 4s 9(1. cx store, for small lots. It is not clear whether tho advance in tho South is connected with the possibility of export to Australia, but this seems mnro remote since rain fell in New South Wales. However, in the moaniimo growers ore reluctant to quit thoir stocks. CHAFF. Tho chief trouble, still consists in getting prime quality, for inferior grades are quito plentiful, owing to broken weather at (he time of harvest in Marlborough and North Canterbury. Best southern is selling nt £lO 10s, pi store, and full rates ore oxpeotod to xulo throughout the ye*r.

i BRAN AND POLLARD. Mills aro hard pressed to supply the exceptionally heavy demand, and both lines arc being imported from Australia. Apparently tho dry weather on the other sido has created a bolter demand there, for pollard has advanced 20s a ton, and local merchants aro now asking £ll ex next arrival. MAIZE. Supplies' nro plentiful, but the usual winter demand is readily absorbing arrivals, thus keeping the market steady at 6s 9d ex Htoie for new grain. Buyers occasionally pay a lew pence more for old maize when any is wanted for crushing, but stocks aro nearly exhausted. FERTILISERS. An increasing demand for super is coming in, either for present delivery or in September, some farmers preferring to wait until tho weather is more settled beforo ■darting their spring top-dressing.

THE LONDON MARKETS.

PRICES OF METALS. Australian and N.Z. I'ress Association." (Received August 20, 9.5 p.m.) LONDON, Aug. 19. (Quotations on August 12 in parentheses.) Copper. —Spot, £74 3s ljd (£73 13s 9d). Electrolytic Copper. —Spot, £B4 5s (£B4. ss); three months, £B4 15s (£B4 15s). Wire liars. —£84 15s (£B4 15s). Lead.—Spot, £22 16s 10i.fl (£23 3s 9c1); three months, £23 2s 6(1 (£23 2s 6(1). Spelter.—Spot, £25 Is 3d (£24 10s); three months, (£24 15s). Tin.—Spot, £2lO lis 3d (£209 3s 9d); threo months, £214 18s 9d (£213 lis 3d). Silver. —Standard, 24 5-16 d per oz; fine, MARKET REPORTS. FRUIT AND PRODUCE PRICES. There was again little change in the prices of local fruits at the Auckland City Markets' yesterday. Lemons continued to he somewhat slow* of sale, and Poorinan oranges inet with a poor response. There was a good demand for Island oranges at increased prices. A fair demand existed for ripe bananas, values being considerably easier. Scarce supplies of tree tomatoes caused an increase in price. Only small quantities of local hothouse tomatoes were offered, and thev were slow of sale.

The field produce market was again heavily supplied with cauliflower and cabbage, swedes and pumpkins, and all root vegetables. There was a fair demand for all classes. Tauranga kumaras sold at the slightly increased rate of 10s to lis 6d per cut., while no Island kumaras were available. No vegetable marrows or melons were offered. There were no outstanding variations in tho prices. A fair demand continued for moderate supplies of both hen and duck eggs, the values remaining about the same. Farmers' butter was again in short supply and met with a good demand, selling at the ruling rate of Is Id to Is 4d per lb. The following- prices were realised:— FRUIT. Apples, Delicious, extra fancy, lis to 12s fid a case; others, 9s to 10s; "Winesaps, 8s to 10a; Stufmera, Ilawke's Bay, 10s to lis Gd; Doughertys, 6s to 8s 6d; Munroes, 10s to 10s Gd; Yates, Ss to 10s. Pears, Coles, 8s to 9s Gd; Nell is, 8s to 10s; Josephine, 7 s to 8s; P. Barrys, Ss to 9s. Tomatoes, hothouse, Gd to 1b 3d per lb; tree tomatoeß, 4s to 8s Gd a case: lemons, No. l'a, 9s to 12s; No. 2 and medium, 5s to 7s; oranges. Island, repacks, 2ls to 25s Gd; Australian navels, lGs to 19s; Poormnn, No. 1, 4s to 4s Gd; medium and small, 2s 6d to 3s; bananas, first grade, repacked, ripe, 18s to 225; second, 10s to 14s, FIELD PRODUCE. Potatoes, Southern, lis to 12s per cwt; new, 3d to Gd per lb; onions, Japanese, 10s to 14s a crate; local, ,10s to 12s per cwt; spring, 4d to 9d a bundle; knmara, Tauranga, 10s to lis 6d per cwt; cabbage, 2s to 7s Gd a sack; on benches, 9d to 2s a dozen; cauliflower, 43 to 7s Gd a sack; on benches, Is to Gs Gd a dozen; swedes, la to 3s a bag; pumpkins, 4s to 7s 6d per cwt; on benches, Gd to Is 3d each; beans, 2s to 2s Gd a lb; lettuce, 2s to 10s a case; cucumbers, hothouse, 5s to tJs a dozen; celery. Is to 5s a bundle; rhubarb, 3s Gd to Gs a dozen; spinach, 9d to Is 3d; radish, 9d to Is; carrots, .parsnips, beet and turnips, Gd to lOd; leeks, 3d to 4d a bundle. DAIRY PRODUCE. Hen eggs, special grade, first quality, Is 5d per dozen; A grade, Is 4d; B grade, Is 3d; duck eggs, special grade. Is 4d; A grade, Is 3d; B grade. Is 2d; farmers' butter, Is Id to Is 4d per lb. CANTERBURY MARKETS. POTATO PRICES FLUCTUATE. [by telegraph.—press association.] CHRISTCHURCH, Tuesday. The potato market has fluctuated considerably since the week-end report. On Thursday afternoon September delivery was sold at £8 17s 6d a ton, f.0.b., s.i. On Friday afternoon this price had firmed up to ss, but on Saturday there was a rapid advance to £lO. Yesterday there was a salo or two at as high as £lO 10s. To-day this price had eased back to £lO ss, with buyers scarce. August potatoes moved in sympathy, but not to the same extent. From £8 15s on Thursday they improved to £9 12s 6d on Saturday, but to-day quotations are at £9 10s. Values to farmers are steady at £8 a ton, and at this figure there is a general disposition for growers to meet the market. Suppliers, therefore, are coming to hand fairly freely. Singularly enough Dakotas did not advance in sympathy with Whites, and for the first time for two or three years they are actually cheaper, being quoted at £7 355, on trucks. Three boats will be leaving Southern ports for the North. They are (lie Waipiata, Wingatui and Kawatiri. The first two are taking fair consignments from Southern ports. The Waipiata is duo to leave on Friday or Saturday, and tho others about Tuesday. It is believed that between them the three vessels will take a heavy aggregate cargo. The oats market is inclined to firm further, and A grade Gartons have been sold at up to 3s 83d Southern ports, f.0.b., and 3s 9d Lyttelton, with B's at 3s 6d to 3s 7d. Northern inquiry is fairly active, and (here is not a great quantity available. Melbourne is still making inquiries, but there is no margin at the moment for export. Milling, by last accounts, was worth up to 4s 3d a bushel and good feed <0 4s. There is little doing in tho wheat market, but it is firm. Values are at 6s 4id f.o.b. for pool wheat. Fowl wheat is firm nt 5s lOJid f.o.b. ENGLISH PRIVATE BANKS. FAMOUS INSTITUTIONS. An announcement was made last month (hat tho famous old private banking firm of Charles Hoaro and Company has been registered as a privato company, with unlimited liability, under the name of C. Hoaro and Company. The change was made with a view to consolidating and simplifying tho conduct of the business. There will be 110 alteration in capital, tho paid-up capital and reserve, as in the case of the partnership, amounting to £500,000. Nor will there lie any alteration in tho management or tho conduct of the ancient business, tho date of whose establishment is quaintly stated as "prior to 1673." All tho existing partners will remain in or bo members of tho newcompany and will continue to give their personal attention to tho business, their liability for its engagements being, as at present, unlimited. Tho change places Hoaro and Company in a similar position to Glyn, Mills and Company, (ho other remaining independent representative of tho old privato banking firms of London, the busil ness of Messrs. Glyn, Mills, Currie and Company having been converted into a companv, with unlimited liability, in 1885.