TRADE OF AUCKLAND.

New Zealand Herald, Volume LXVII, Issue 20629, 30 July 1930, Page 7

TRADE OF AUCKLAND.

WHOLESALE AND RETAIL.

GOOD BUSINESS IN SHOPS. PRODUCE MARKETS REVIEW. Tho wholesalo houses arc now almost clear of their orders for next month's • account, but tho markets aro in such a ' condition that buying is restricted to immediates requirements, and then only in small quantities as a rule. It is evident that buyers are running their stocks low, and this will mean much heavier purchasing as soon as tho spring trade sets in in the country districts. Retailers have nearly finished their win ter clearance sales and aro now pushing their special reductions on this season's goods, preparatory to opening their new importations. Very good trade was dono at the end of tho week, an unusual number of buyers being in the city on Friday. Saturday's trade rather exceeded expecta-' tions, for it was thought that the afternoon's football would monopolise attention. However, tho football attracted a great number of visitors from tho country and a good proportion of these spent an hour or two in the shops. New rates of duty are causing much interest in Canada, and it seems that importers aro disconcerted about tho duties being lowered. Oil May 2 the duty of 7 cents was taken off British-grown tea, and a good many houses reduced their prices forthwith. Somo importers, however, have appealed to the Minister of National Revenue, pointing out that when tho 10 cents tariff was put on tea some years ago it was. made to apply to all th'at they held in warehouse, hut when tho British preference was reduced to 7 cents they received no rebato of the extra 3 cents on what they held duty paid Similarly no provision was made for a refund of the 7 cents on duty paid stocks held on May 2. A number of tho larger packers wore left with duty paid stocks amounting to several hundred chests or more, one firm being credited with holding 2000 chests. However, tho correspondence so far gives very little indication of relief being granted. Tho British preference instantly changed the curront of tho dried fruit importations, peaches and apricots now arriving in large quantities from South Africa duty free, as against Californian being subject to a duty of 4 cents. On the other hand higher duties on canned fruits and canned vegetables are expected to decrease importations from the United States very considerably. Even peanuts arc now arriving in Canada from India free of duty, against a general 'tariff of 1 cent. / 4 • It may be expected that very similar changes will gradually resnlt in Now Zealand "from the new rates on British importations as against foreign, but it will bo some months before contracts on hand run out and now importations arrive at the new rates. SUGAR. Tho world's market is very low. A couple of monlliß ago tho price in New York reached the lowest point for the _ last 70 years and it was thought that this was bedrock, but further slight reductions havo again shaken the confidence of buyers. Raw sugar has actually been sold at a price in New York equivalent to £G 10s per ton, and although it is thought that this was party due to sellers who were in financial distress such a low quotation has ma"de refineTS still moro inclined _to hold off. However, the general opinion now soems to be that it cannot very well go any iower, especially as stocks in London are so low that., extensive buying must take place for that market very shortly. In tho meantime tho collapse in the price is making trade very difficult with Cuba und other producing countries. COFFEE. Heavy slocks in Brazil are proving very difficult to dispose of. Although a loan has been partially floated for marketing these surplus stocks it is admitted that no advnnce in the price can take place until these arc considerably reduced. DRIED BEANS. A few varieties nrc n little 'dearer, hut Indian haricots are fairly well stocked here, and theße arf -in active demand at a leasoiiable late. Madagascar lima beans have advanced lately. NUTS AND, ALMONDS. Overseas quotations for walnuts are higher, but still well below the ruling rates of last year. Local aro selling well and stocks are not likelv to last long. _ Brazil nuts aro dearer and the new season's seem likely to rule about fivepence above last year's rate Valencia shelled almonds are quoted at a alight re<luct : on, but somo varieties have recovered a little from their recent weakness. DATES. Sair dates aro offering at an exceptionally low rate and seem likely to sell well, during the rest of tho year. POTATOES. - Supplies are not so plentiful now, B3 stocks have'been worked down, and it will be tho end of the week before the shipment arriving on tho Katoa is distributed. Merchants aro quoting £7 10s ex store but tho market in the South has a weaker tone, whether for prompt shipment or booked for August and September delivery. It is understood that largo stocks aro held in Canterbury. Broken weather has interfered with tho sale of seed potatoes during the last few days, but the season is now getting on and growers will be more eager to get on with their planting when they get a few days of dry weather ONIONS. Moderato sales arc taking place at Ss for southern and 10s 6d for Australian but both require re-picking. The extra duty on foreign onions has brought difficulty to importers of new season's Californian, which are due by the Mirrabookn this week. Most of these are sold to arrive at 17s fid, but as the duty is raised from £1 10s to £5, it will be necessary for im porters to pass on the extra :-is r>d to their customers The new duty will induce 1 importers to try and cancel tho rest of the orders they have sent to San Francisco, in order to indent Canadian, and get them in at the lower rate of duty This is not usually very easy, but thi3 year it is lust possible that weather conditions in the United States may make the shippers more ready to call off. OATS. VVeak at 43 lOd ex store, with a poor demand. It looks as if there will not ho an outlet even for the very limited harvest gathered in Otago and Southland this year CHAFF. A temporary firmness has been caused by- the delay in a shipment expected from Tasmania, which will nol be hero until August 11. This is booking to arrive at £lO. but holders aro asking 4 £lO 15s ex store for tho limited stocks of southern now held, WHEAT. Tho general prico for fowl wheat is now firm at 8s ex ntore, following the advance established in Canterbury. The high prico is making the demand fall of!, as farmers are moro inclined to use a larger proportion of maize and oats. BRAN AND POLLARD. The local mills are turning out normal quantities, but the winter demand has not materialised to ita usual extent, and this has caused stocks to accumulate somewhat Pollard was imported rather too freely from Australia, in expectation of a larger lemand. MAIZE New is now arriving in better condition irom tho Bay of Plenty, und this is Belling readily at 6s 3d ex store The freight from Gisborno has been raised threepence, ■ but a largo proportion of the maize business is now dono direct to the inland centres by railing it from stations at tho Bay of Plenty, wliero tho growers obtain 4s lid on trucks. FERTILISERS. Small orders for top-dressing are coming 1 in, but forward bookings indicate that in tho spring the quantities will bo mucn i larger. KAURI GUM, ,'ip.wr s descriptions. CHICAGO WHEAT MARKET. CHICAGO. July 2S. Wheat. —July. 87,} cents per bushel; September. 39$ cents; December. 05 cents; Match, 99| cents.