TRADE OF AUCKLAND.

New Zealand Herald, Volume LXVII, Issue 20743, 10 December 1930, Page 9

TRADE OF AUCKLAND.

WHOLESALE AND RETAIL.

BRIGHTER TONE REPORTED. PRODUCE MARKETS REVIEW. A distinctly brighter tone lias been recorded in Auckland retail circles during the past few days. Increased business lias been recorded in most sections. Special Christmas present lines have been selling freely, and rush-trading is expected over the next fortnight. Wholesale merchants report a healthy inquiry from country storekeepers, but actual deliveries are rather light owing to storekeepers holding off until they can buy on January account. Buyers are giving little attention to tho replenishing of stocks as a result of the rush of Christmas business, preferring to wait until after tho holidays before taking stock. CARGO FROM THE EAST. Tho Melbourne Mnru arrived Inst week with a miscellaneous cari, r o from Japan and flic East. Tho vessel brought approximately 500 cnses of wu,l,nut meats, from Tientsin, ft also brought a quantity of special timbers. porcelain, cotton and silk, cheap toys, woodenware from Shanghai, and brassware and seagrass mats, including other miscellaneous Japanese and Chinese products. The next direct steamer is not due until January. PRUNES. There is a distinctly firmer tone in tho market, for the larger sizes of prunes, particularly 40-50's upward, due more to low prices than to a better class of fruit. RAISINS. The market for Golden and. oil-bleached seedless raisins continues to show a firming tendency. CURRANTS. Overseas shippers advise an advance of fid a cwt. in the price of Amelia currants. Patras remain unchanged, but the market for Bo3tizziae has advanced £3 a ton. SICILY ALMONDS. Following a slight advance in the market for Sicily almonds, prices have now dropped about £2 a ton below tho low levels of about a month ago. NUTS. Quotations for moßt lines of nuts in shell show an advance, no doubt as a result of the increased Christmas demand from London. SICILY FILBERTS. An advance of about £3 a ton is recorded in the market for Sicily filberts. DATES. Stoned dates have met with a much increased demand this year, no doubt on account of the lower prices. Following a reduction in stocks, however, prices show an advance of up to 30s a ton. TEA Most varieties ot tea meet with a good general demand. Latest cables show the market for common to be a little irregular. The market for coloury medium and high grown is firm. Light liquoring sorts are sasier. CITRIC ACID. Overseas shippers advise a further slight reduction in the market for citric acid. RICE. The price for new season's rice for delivery toward the middle of 1931 has been named on low levels. Littlo or no forward buying has been reported, merchants not | caring to book far ahead in view of the world-wide depression in prices for all cereals. TURPENTINE. Comparatively low prices now rule for turpentine for February, March and April arrivals. All price movements lately have been downward. HARDWARE. Tho hardware trade continues quiet, the expected improvement in building activity with the arrival of the warmer weather not eventuating. A certain amount of bueiness has been put through in harvesting materials recently, but the total volume has not been up to that, of last year. POTATOES. Heavy offerings of potatoes are coming forward to tho Auckland City Markets, and best grade are available at from 2s to 6s a cwt. Tho nominal through store price is around 6s Od a cwt. for small quantities. In the city markets yesterday exceptionally heavy supplies came forward and poorer grade potatoes were selling down to under 2s a cwt. ONIONS. In spite of the arrival of a shipment of Australian onions last week the market is still rather short on the spot. Through store, Australian onions are selling at from 12s lid to 13s Gd a cwt. Tho first of the new season's onions have made their appearance in the city markets over; the past few days. The quality is not# up to that of the Australian imported onions, most lines being a little on the green side. Tho main crop is not expected to come forward until early in January. OATS. The oat market continues weak. B Gartons sell through Auckland stores around 4s Gd a bushel. "WHEAT. Tho market for wheat is unchanged, with Auckland merchants asking up to 8s a bushel through store for small parcels. MAIZE. Maize is meeting with a steady retail demand. Tho wholesale market is unchanged and rather weak, with the nominal price in the Bay of Plenty for direct railing to southern stations around 4s 9d a bushel. BARLEY. Ample stocks of barley for immediate requirements are held on the spot, and quotations range from 4s 4d a bushel to 5s a bushel, according to quality, for small parcels through store. BRAN AND POLLARD. The Auckland mill price is unchanged at £(i 103 a ton for pollard nnd £7 a ton for bran. Tho Australian market continues weak. DRIED FRUIT PROSPECTS. A London trade report, referring to the new season for dried fruits which opened recently, stated: "Greek currants will be plentiful and cheap, but there is still available a fair quantity of Australian currants and these are being offered at competitive prices. The quality and condition of this fruit are excellent. Tho quantity of Valencia raisins this season will not exceed 0000 tons. The weather for ingathering was the best for 25 years, with the result that the fruit is perfectly sound. Prices are 10s per cwt. lower than last year. There is a good selection of Australian raisins, but owing to heavy buying the best qualities are getting into narrow compass. .Shipments from Smyrna this season will bo light, the crop being 35,000 tons below lust year." GORDON AND GOTCH. DIVIDEND AT 8 PER CENT. The. report of Gordon and Clotch (Australasia), Limited, for the half-year ended September 30 states that, trading during tho period has been difficult, owing to the continued depression, adverse exchange conditions, and increased taxation. The net profit is £41,078 13s sd, less provision for taxation £8316 12s sd, £32,762. For tho corresponding period of last year taxation was £12.364. With the balance of £4544 brought forward, there is a total of £37,306 10s available. The directors recommend payment of dividends on both preference and ordinary spires at the rate of 8 per cent, per annum, amounting to £24,000, and leaving £13,306 lCs to be carried forward. Following is a comparison of the company's results for the last three halfyearly periods: — Sept , March, Sept., 1929. 1930. 1930. Brought forward .. i'OIL £2,566 £'4,544 Net profit . . . . 52,955 41,GTS 32,762 £53,866 £44,544 £37,306 To reserves . . Ifi.OOO 10,000 Employees' fund .. .1,000 1,000 Dividends — Pref., 8 p.c. p.a. . . .4.000 4,000 4,000 Ord., P.c. p.a. . . 12 10 8 Amount . . . . 30.000 25,000 '20,000 Carried• forward .£2,866 £4,544 £13,306 Tho cfimpany paid dividends at the rate of 8 per cent, per annum from the end of 1923 to the end of 1927; at 10 per cent, in June, 1928, and at 12 per cont. in December," 1928, until last June, when the rate was reduced to 10 per cent.