TRADE IN AUCKLAND.

New Zealand Herald, Volume LXVIII, Issue 20990, 29 September 1931, Page 5

TRADE IN AUCKLAND.

! RETAIL AND WHOLESALE. t I POSITION OF UNCERTAINTY. MOST PRICES ADVANCING. The higher conversion rate of the pound sterling to foreign currencies remains tho dominant feature in trade in Auckland. Business has been fairly satisfactory, but merchants are closeiy watching the position abroad and buying little from foreign countries. Quotations for many lines are still withdrawn, but a few have been reinstated in tho currency of the country of origin, which means a marked advance when converted to sterling rates. Most London shippers are temporarily off the market, although some advice is expected to-day. United St »tes shippers are quoting previous levels on a dollar basis, which will have tho effect of in-creas-ng prices on Californian dried fruits and jitney, or 803. tins of fruit, etc. Other main foreign lines which will be affected by the situation are drained and crystallised cherries, cream-of-tartar, olive oil, almonds, kerosene, axe handles, greaseproof paper, syrup of figs, walnut meat, preserved ginger, Java kernels, Brazil nuts, cigarette papers, canary seed, muscatels and asparagus. Under the circumstances merchants at the moment are operating warily in regard to the ordering of replacement, stocks and this is one of tha aspects that is causing concern. It seems even possible, should the uncertainty continue, that there will be a shortage of some lines before Christmas. Those houses which previously felt they were overstocked in some of the commodities affected are now in an enviable position. A favourable aspect is the claim to attention which sources of supplies within the Empire are receiving. This was commented upon by ona merchant yesterday, who remarked that although the position at the moment wm one that upset normal business conditions, he hoped it would continue and give much-needed impetus to trading in Empire ;;ood3, which could meet tho demand in many lines now purchased from foreign countries. The principal arrivals during tha weekend have been the Sonoma and Golden Cloud from Californian ports, the Tofua from tho Islands, and tha Maunganui from Sydney, via Wellington. ACIDS. Quotations for Citric and tartaric acids are withdrawn. An increase of £■% \ ton ia reported in cream-of-tartar. ALMOND 3. Ar increase of about 20b a cwt. ia quoted for ground almonds. No quotations for Jordan almonds were available yesterday. DATES. The position, ia. the date market remains obscure. The only importer able to give any information yesterday stated that Quotations remained withdrawn. Further information from London was expected to-day. CAEBAWAY SEEDS. Shippers of Dutch carraway seeds advise an advance of 6a 6d a cwt. All markets were reported to be advancing owing t.o exchange fluctuations. CANADIAN SALMON. Consequent upon the depreciation of tho pound sterling in terms of Canadian dollars shippers hare notified tho withdrawal of previous prices for Canadian salmon and now quote from 20 to '25 per cent, higher. Little business ls reported to have passed in this lino since the original prices were announced owing to the Canadian tariff deadlock. Merchant# now are le*s likely to take tho further risk on the eschanije position. GALVANISED IRON. Reporting recently with regard to the use of galvanised iron Che Australian Tariff Board states that makeshifts and cheaper substitutes would be used while prices were kepr, at a high level. Tha board was convinced that there would be no appreciable increase La demand until prices were more in conformity with the reduced purchasing power of consumers. CALCUTTA JUTE. Last week's advices indicated that prices of heavy jute coods in the Calcutta market had been steadily increasing. Hoaro, Miller and Company. L'd.. reporting on August 22. 3tated that exTensivo tioods over a larue area in tha jute districts had caused considerable damage, more particularly to the quality of the jute. In soma districts it is reported that as much as 20 per cent, of the crop had been damaged. Prices of raw material had advanced in consequence. POTATOES. The potato market is unchanged. Further supplies will bo landed by the Waipi.ita. which ia due from the South Island to-day. Prices remain at from £3 15s a ton off wharf to £4 5s a ton through store. Interest in tho market 13 reported to be weakening in Christchurch now that the season is drawing to 11 close. Prices have slipped back to the rates ruling during the early part of the month. Whites sre quoted at ;i2s (3d a ton f.0.b.,. s.i., or 15s to farmers, and Dakotaa are back to 37s tid f.0.b., s.i. Inquiry from tho North is very slow. ONIONS. The principal business in onions is now being done in Californians. further supplies of which were landed by tho Sonoma. These were one of the first lines affected by the adverse conversion exchange, which had tho effect of adding about Is 9d a bag to theix cost. —The price is arm from IT3 6d to ISa a bag. WHEAT. Business in fowlwheat is skill fairly quiet, although a little better inquiry is reported in the South. Grade sells at around fis 8d a bushel through store. MAIZE. Easier conditions exist in the market for maize and merchants are buying only in accordance with tho demand. The wholesale buying rate f.o.r. is 3s lid a bushel and most business is being done direct by rail with the Bay of Plenty. In Auckland the price through store is around 5s 5d a bushel. OATS. Little interest is being taken in the market for oats. Prices are unchanged at around 3s 9d a bushel through store. CHAFF. A weak market exists for chaff and little hope is held out for any immediate improvement. Rates remain at around £7 5s off the wharf to £7 13s a ton through store. .BRAN AND POLLARD. Locally-milled bran is meeting all requirements in this commodity at present. The millers' prices remain at J-5 3s a ton. Firmer conditions exist in the Australian market for pollard, which is still being done at below the local price. Australian at the ship's side in selling at. from £5 10s a ton to £(5 a ton through store. FERTILISERS. Merchants havo withdrawn quotations for fertilisers of foreign origin owing to the exchange position. This applies partieu-

I.irly to Belgian basic slaij. which was being quoted to farmers at particularly attractive rates. Potash importers have also been notified by a New Zealand agency that it cannot enarago in forward shipment. Business on this basin will not bo resumed until the exchange position has stabilised. In the meantime, business in some lines is being accepted subject to confirmation for prompt shipment only. NEW AUCKLAND COMPANY. The following private company has been registered in Auckland: W. Stevenson and Sons, Limited, to take over the business of W. Stevenson and Sons, road-makers, drainers, contractors in all branches, plumbers, etc. Capital, £IO,OOO, in £1 shares. Subscribers: 1 William Stevenson, 4422 shares; William Alfred Stevenson and James Muir Stevenson , 2788 ahares each-