TRADE IN AUCKLAND.

New Zealand Herald, Volume LXVIII, Issue 21068, 30 December 1931, Page 5

TRADE IN AUCKLAND.

RETAIL AND WHOLESALE. BUSINESS DURING HOLIDAYS. PRODUCE MARKETS QUIET. Business in (ho city since Christinas has been confined practically to the buying of perishable requirements. In other lines there has been some reaction after (he brisk Christmas week and the general tone is fairly' quiet. Most merchants are open some days this week, but the period between Christmas and New Year is usually a quiet one, in which the fulfilment of urgent orders and attention to arriving goods are tho principal matters requiring consideration. There have been several important arrivals since Christmas, comprising the Maunganui, from Sydney; the Aorangi, from Vancouver; and the Golden Cross, from Pacific Coast. Merchants and storekeepers are now looking forward to the arrival at the end of the week of the Narbada with Eastern goods, many lines of which are in short supply. The produce markets arc quiet, owing to the fact that, following the usual custom, retailers have stocked up sufficiently prior to Christmas to carry them over until after New Year. It will be about the middle of next week before business is resumed on a normal basis. There have been no alterations worthy of notice in respect to South Island grains. The markets generally _ closed firm. Canterbury has had some rain, but insufficient to make up the leeway lost during the long, dry spell. ALMONDS. Some shippers have advanced their quotations for Sicily almonds by X 3 a ton. JAM. Owing to the higher cost of sugar, manufacturers of jam and preserves are making un advance of about id a lb. on all jam manufactured during tho coming season. The higher prices are to operate after the New Year. JAM JARS. Tho demand has already pet in for jam iind preserving jars. It. is expected that inquiry will open strongly after the Isew Year. DATES, Good business continues in dates, which at present, are offering tho best buying in dried fruits. Reports from overseas indicate a continuance of firm conditions, and, owinii to "slocks at Hasra having been cleaned up. future supplies will have to be drawn from London. TOBACCO. A reduction of Is (id a lb. has been made in the price of a number of leading American plug and cut tobaccos. The reduction is equivalent to the increase that was made following Great Britain's departure from the gold standard. No reason is given, but it is assumed that the cost of exchange conversion is now being carried by the American packers in order to retain competitive prices. CORNSACKS. Lately the Calcutta market for cornsacks developed a firm position at enhanced prices, but within the last week or bo quotations have declined. Writing from Calcutta on November 28, Hoare, Miller and Company, Limited, stated that interest had been displayed in New Zealand cornsacks for tho November-December position and mills were fully sold for that position/ The Narbada, which lifted No-vember-December engagements, is due about January 2. AUSTB ALI AN APRICOTS. A trial ship/uent of a bulk sample of 18lb. of dried apricots sent from Australia to London by the Council for Scientific Industrial Research, to test a new of drying, has arrived back at Melbourne, the new process consists of '2(l per cent, uniform moisture in the fruit, which is considerably more than the usual amount in Australian apricots. The object of the test was to ascertain whether by the introduction of more moisture Australian apricots could be made more " pliable " in order to compete with tho South African and Californian products. In the past Australian dried apricots have been tough, with the consequent result that they did not reach the marketing price of their competitors. A comparison of the new and old processes will bo made by the council shortly. TEA. No tea auctions at Colombo are being held until January (> and at Calcutta until January 11. The London market is also closed during this week for the holidays. The year in the tea trade bus been one of extreme difficulty for blenders in the Dominion. The demand has been mainly for common grade leas, tho lower quality being sought owing to the policy of supplementing value with coupon presents. In addition to this the Government imposed a revenue duty of approximately 3Jd a lb., and merchants and packers felt that if this were passed on there would be a grave risk of killing sales. As a result cheaper packet teas, unaccompanied by gift schemes, made tlic-ir appearance toward the end of iho year, mainly with tho object of meeting the times and of encouraging people to drink the best possible tea obtainable for (he price. Extraordinary conditions _ have governed the Colombo market. The demand was mainly for low grade (ens, and, when tho quality and flavour of these offerings were good, extreme rates were paid, which had the effect of increasing blenders' cos(s to micli an extent that tho consumer has secured excellent value for the money paid. EMPIRE FRUITS. Fruit-growing, according to tho Empire Marketing Board, is one of the Empires most - promising industries. From the United Kingdom down to the smallest colony there is hardly a single Empire country that does not grow fruit in variety and abundance for the Home market As a result fruit is no longer a luxury-that is plentiful only at certain seasons of Hie year. In addition to tho large supplies grown in home" orchards and gardens, more and more fruit is reaching the United Kingdom every day from the Empire overseas. This is largely duo to tho part which science, helped in many instances by grants from the Empire Marketing Fund, is playing by its researches into the many problems connected with tho cultivation, storage and keeping qualities of fruit. Already modern methods of cold storage enable fruit to no carried from one end of the Empire to the other, and be delivered to market as fresh a a on the day it was picked. POTATOES. The market for Pukekohe potatoes has been fairly weak. Supplies have been coming forward freely, while tho demand has been limited on account of the holidays. Supplies nrs expected easily to meet the demand over the next two months, and low prices are expected to rule. ONIONS. Limited stocks of Australian onions are held locallv and these are realising lis n. cwt. New season's local onions are expected to appear early in the new year. Limited quantities are now available, but they have scarcely matured yet. NATIONAL MUTUAL LIFE. INCREASE IN SURRENDERS. For tho firjifc time in many years income of National Mutual Life Association of Australasia, Ltd., which lias issued accounts for the year ended September 30, has decreased, in comparison with the income for tjho previous year. Income for the yen'r, £4,755.450, of which £1,629,579 is interest and rents, is lower by £220,427, and new business written has fallen by £3,087,506 to £6,113.517. assured under 15,849 new policies. Transactions for the year have resulted in an addition of £1,037,047 to the assurance fund, compared with £1.973,792 added to the fund in 1930. The association has not only had to face difficult conditions in J securing new business and in meeting tho needs of policy-holders, but it has been met with heavy demands for taxation and rates, which amounted to £283,049 in tho year, an increaso of £127,206, or 45 per cent. Since balancing date on September 30 tho association has been receiving smaller returns because of the reduction in rates of interest under tho Commonwealth financial emergency legislation and the debt conversion. Claims met in the year amount to £2.035,160, of which endowments at £443.160 form a greater part than usual. Claims have increased by £365,151 in comparison with 1930 and endowments are greater by £298.014. The siu renders are £1,131,707, an increase of about £391,700.