TREND OF PRICES.

New Zealand Herald, Volume LXVIII, Issue 20890, 4 June 1931, Page 5

TREND OF PRICES.

WHOLESALE AND RETAIL. DISCREPANCY IN BRITAIN. Striking figures, explaining tho discrepancy bet-.veen wholesale and retail prices, were given by Lord Ebury, the chairman of .the Army and Navy Stores, at its annua! meeting held in London in April. Me pointed ■out that, whereas between January, 1950, and January, 1931, there was a drop in the Board of Trade wholesale index of 12.4 per cont., the corresponding fall in- the retail index was only 7 per cent., a difference of 5.4 per cent. In the same popiod, however, the decrease in wages, according to Professor Bowley s index, was less than 1 per cent. Thus, fabour costs, to which were added transport, taxation, rents, lighting, heating and similar charges, had remained practically constant, both for (he manufacturer and retailer. Moreover, Lord, Ebury continued, there was a considerable lag between the fall in the cost of raw mgiterial and the reflection of this decline in a finished article, because tho manufacturer was often producing for as long as 12 months ahead. Thus, for some time after a fall, goods were still being sotl on the market which contained raw materials bought at the previous higher prices. Lord Ebnry quoted a large number of instances in which important commodities had shown marked declines in retail prices between January, 1930, and January, 1931. Among his examples were soap. 11 1-3 per cent.; jam. 3,j> per cent.; canned fruits, 16 per cent. 3 New Zealand butter, 24 per cent.; bacon, 25 per cent.: linen, 15 per cent.; cotton and artificial silk goods, 17 per cent.; fabric and suede gloves, 24 per cent.; knitted wear, 19 per cent. Referring to Russia, Lord Ebury said that the dumping by the Soviet of wheat, oil, timber, furs and ottlier commodities on an already unwilling market had materially contributed to tho difficulties of the existing situation. NEW ZEALAND APPLES. AWARDS AT LONDON SHOW. XOXDON, June 2. Although the exhibits in the Southern Hemisphere's section of the Imperial Fruit Show were not- numerous, their quality and appearance made up for the lack of numbers, and li£ghly pleased the judges. H. E. Stoke (New Zealand) gained second prize for Sturnters, and J. A. Frnser (Mahana, New Zealand) was third CANADIAN WHEAT CROP. GREAT DAMAGE BY DROUGHT. OTTAWA. June 2. The wheat crop on practically the entire Canadian prairies is in a critical condition as the result of a severe and prolonged drought. The Dominion Bureau of Statistics announces that additional sctrious damage 'was caused by high winds. DUTY ON ORANGES. FOSITION IN CANADA. VANCOUVER, June 2. Fruit dealers are sceptical whether the increase of one dollar a case in tho duty on non-British oranges will increase materially the demand for the Australian or West Indian product. Mr. F. R. Stewart, a leading importer, says he has found a large and unchangeable demand for United States oranges. The West Indies imports are only moderately successful, and tho Australian product, while considerably sold, is .not sweet enough for most buyers. Mr. W. W. Duncan, markets director, predicts that the duty will create a greater demand for apples. FRUITGROWERS* DIFFICULTIES. BRITISH COLUMBIA CROP. VANCOUVER, June 2. British Columbia berrygrowers have appealed to the Government for aid in disposing of last year's loganberry crop, • which was held in storage for wine manufacturing. The wincmakers are fuDy supplied Tho Government was told that this year's crop would be a total waste unless thf present surplus were sold. FEILDING GAS COMPANY. LOSS ON YEAR'S OPERATIONS. For the year ended February 28 the Feilding Gas Company made a loss of £IBO. as against a profit of £llO £n the previous year. The adverse balance for the year was increased by £579, the amount required for depreciation on plant and meters. Sales of gas. <oke, tflr and gjoods amounted to £2973, as against £3142. In ] 929 there was a loss of £IOB, which took practically all 'he. profit, made iri 1930. Still, at'the doso of that financial year the directors had accumulated sufficient funds to redeem three £IOO debentures which were paid off during the past year. LONDON STOCK EXCHANGE. LONDON. June 2. The following are included in to-dtiy's quotations on the London Slock Exchange:—Dalgetv and Co., Ltd.. shares. £5 ss; 4 per cent, debentures, £66. STOCKS OF TIN. LONDON. June 2. I lie stocks of tin are:—Visible, 51,072 tons; spot, 3193; afloat, 1460; deliveries, 2236. THE PRICE OF GOLD. / LONDON, June 2. Gold is quoted at 84s Joid per oz. CHICAGO WHEAT MARKET. CHICAGO, J u'ne 2. Wheat.—June, 71J cents a bushel; July, 59J, cents; September, 57j} cents; December, 61 1-8 cents. CALL AND DIVIDEND LIST. Dividends— Due. Robinson Ice Cream -final, b p.c. June !i Wilsons Cement—final, 71 p.c. Juno 10 N.Z. Perpetual Forests—final, 8 p -C . June 10 Tiilterßfield—interim. 2 p.c. . June 11 Morris-Hedstrom—final, 3 p.c. June 13 Devonport Steam—final, 3J p.e. June 17 Bank of Now Zealand—final, preference issue. 3J p.c., and ord.. Is 4d a share and bonus of 1 per cent. June 20 Farmers' Trading—ord., 8 p.c. . June 24 Australian Glass —final, 41 p.c. pref. and 3 p.c ord. . . June 24 Mount Lyell—interim, 6cl a share June '29 British Tobacco—quarterly, 1J p.c. June 30 Burns-Philp— final, 5 p.c. ._. Perpetual Trustees—final, U 4 l-5d a share - Calls— _ . • • Moturoa Oils—ls a share . . Juna 10