TRADE IN AUCKLAND.

New Zealand Herald, Volume LXVI, Issue 20363, 18 September 1929, Page 7

TRADE IN AUCKLAND.

WHOLESALE AND RETAIL.

GOOD REPORTS FROM COUNTRY.

PRODUCE MARKETS REVIEW.

The wholesale trade is beginning to brighten up considerably, now that orders for October account arc being received, and as theso are not due for payment until the dairy cheques for October suplilies are being circulated, on November 20, there seems every likelihood that I hey will all be of substantial volume, So far the reports from the country districts are very hopeful, the weather being favourable to a good growth of pasture. Strange as it may seem to city residents, the farmers admit that they could already do with a little more rain, as it would accelerate the influence of the top-dress-ings drilled on the land during tho past fow weeks. However, this is not yet very pressing, and tho pastures are in good enough order to bring in a good yield of butter-fat, although production has not yet reached tho flush. Travellers report a good tone in country business, the general opinion being that it will be a decided improvement on that of last summer. The farmers arc really doing well and most of them start tho season in a much-improved financial position.

Retail trade in the city is nob as good as tradespeople would like, although it is difficult to estimate how much of this is due to tho great increase in tho number of shojw lately. A good deal of cutting is going on, in an endeavour to secure a larger share of what is available, but it is stated that there is a reluctance to make heavy purchases. An exception is in drapery, where good patronage is being extended to tho new season's importations. Confidence in the permanent demand for rayon is indicated by the efforts of British manufacturers to increase their output. For some reason they lagged behind other European countries for a long lime and the importations were very heavy. Returns recently compiled, however, show that during last year tho British manufacture increased from 26,000.00011). to 51,000,0001b., practically 100 per cent., while exports increased by 50 per cent, and imports fell 25 per cent. During the year 21 new factories for manufacturing this yarn were erected. Tho only danger seems to lie that some may have insufficient capital to prevent dumping at unprofitable rates and thus shaking tho confidence of distributors. In tho meantime, however, this manufacture is of benefit, to British trade, in partly making up for the depressing condition in cotton and woollen textiles.

EASTERN GOODS

Heavy sales have been made during tho past couple of weeks, as a result of largo importations by tho direct steamer. Prices are generally favourable to buyers, tlms inducing a larger turnover. This _ applies particularly to Singapore commodities, pineapples being still so cheap us to promise a very largo business, during the summer, and most importers took the opportunity to indent heavily before the market advanced. Sago and tapioca are at nuito reasonable rales, ifnd have been selling well. Pepper is disappointing, as much lower costs were expected, so import is beinc restricted for the present. Mace and nutmegs, however, are chaper, and full quantities are available; A little Rangoon rice was imported, and an advance that has since taken place at tho eourco is giving confidence to buyers. JUTE GOODS. Importers landed a good supply by the direct steamer, and prices this year aro much more favourable to buyers. The market has been gradually falling, due to the knowledge that .a much larger yield was assured from the 3,319,000 acres in crop this year than tho 3,111,000 acres last year. RUBBER,

Tlio Stevenson restriction scheme, which disappeared nearly a year ago, linn apparently led to an increase in production, which should assure much lower prices for the future. It is estimated that while the scheme whs in operation there were planted in the Dutch East Indies about 2.000,000 acres, with at least GO trees to the acre. If planting continues it is estimated that .'(00.000 tons a year may be produced by 1935 from this group alone. However, with an assured lower range of prices ruling, new outlets will bo found which were not worth considering a few years ago, when rubber was five or ten times its present price. One of the largest of these new uses will probably be flooring, and experiments arc being made with a view to constructing cheap footpaths in this material. At present by far the largest outlet is for making motor tyres. PRUNES. An exceptionally strong market has been established, and every few days there comes further news of an advance. Local stocks are very low, and practically exhausted in some sizes, so importers are anxiously awaiting a few small consignments now on the way, as these will have to keep them going until the new season's fruit arrives. It seems more than likely that the price will go still higher, for the yield is small in California, and it is stated that the long period of low prices has cultivated a demand that will not bo put of! by an advanco of a few pence.

RAISINS

Advices are much tlio same in Californian raisins, and this makes eacrer to pick up any lino offering at a low J ate. All descriptions are higher in new season's fruit, and there is only an occasional offer of old fruit that looks attractive.

CANNED FRUITS

Retailers are taking every opportunity to keep up their stocks, as all quotations are much higher for forward delivery, following tho sharp advance in California when it was seen that the frosts in the spring would severely curtail tho yield. Heavy sales have been made in the city during the past few weeks. EGGS. I Unchanged at Is 3d retail, although a few houses are making eggß a leading lino at Is '2d. Packing for export is steadily going on. but it is difficult to know iho extent, to which this factor is keopinj? the price from a further fall. The quantity at present arranged for export is only 750 cases, so it is probable that the moral influence is tho chief factor, in that, it has induced steady contracting on the part of the bakers. BUTTER. Retailers promptly followed Hie atfvancn in the wholesale on Monday morning, and all prices went up a penny. POTATOES. Local stocks arc still plentiful, and most retailers are well supplied. However, tlio price to arrive is a little higher, and any consignment lines still unsold arc now being held for £lO. This has restored confidence in the market, in spito of tho large quantities stored, and the market seems stabilised at that figure. Seed potatoes aro selling well, the weather latoly having been about porfect for planting. Prices are unchanged at the alight advance already noted. ONIONS. Importers aro having troublo with some of tho Canadian onions which arrived by the Aoraligi, as they have evidently been fathered too early. The Californian aro in good order, and aro realising 18s. but the Canadian aro selling at irregular prices, • according to condition, and tho saiuo applies to a few Japanese still held. OATS AND CHAFF. Although no quotable change is noticed, tho fodder market, seems to be again feeling tho effect of the purchases of chaff in Tasmania, released when Hie drought broke in New South Wales. Business is dull, and this makes shippers more willing to shade prices, so a reduction seems likely. WHEAT. Fowl wheat is firm at 7s 0d ex atom, with no possibility of a decline, and. poultry fnrmeiß cannot avoid paying tho price, oven though eggs aro so cheap. BRAN. o f p^» sell at X'2 over tho local null price. POLLARD. iSSrHSr'S-I aro readily filled. MAIZE. Tho market is weak at, 0* <>d ex store, with supplies in excess of requirements. Producers are realising 5s 4d on trucks at Bay of Plenty stations, and rather, large parcels aro still going direct to inland stations by rail. FERTILISERS. Very large deliveries continue, chiefly in buper, the formers relying on previous experience to pot tho benefit of heavily topdresginz their pastures.