TRADE IN AUCKLAND.

New Zealand Herald, Volume LXIX, Issue 21114, 23 February 1932, Page 5

TRADE IN AUCKLAND.

RETAIL AND WHOLESALE. EXCHANGE POSITION DOMINANT. PRODUCE MARKET REVIEW. The uncertainty <>£ the exchange posi : tion remains the dominating influence in city trade. As a result merchants are reluctant to operate in overseas markets, and will remain so until tha Government's pronouncement is made. Distributing business is steady. ItESINS. The resin market is firm and advancing. Some replenishment stocks were landed ex Mariposa. ACIDS. Overseas quotations for cream of tartar and acids are unchanged, but the lone ot the market is distinctly firm. MADAGASCAR BEANS. Tho upward movement which has taker, place recently in the market lor Madagascar butter beans has been due, according to information received by nia+l 'rem .London, to the slioi-tago in the English potato crop. It is stated to be doubtful if there are sufficient stocks held in London to supply the market there unlrl tho present crop becomes available in April-May. Tlie price for forward shipment i 3 i"2 a ton cheaper at ju'esent than that for jjronjpt. DATES. Although some special offers have been received from one London __ shipper for a very limited quantity of Khadrawi dates, the market generally is very firm, and in his opinion present rates are almost cer tain to advance, Sairs grade are also available for i.piead shipment up to July, but as orders at present rates liavo to be cabled immediately, there seems evory reason to anticipate a general advance in this grade also RAISINS. A fair shipment of Thompson's seedless raisins was landed by the Mariposa from San Francisco, and as the local market was almost bare of supplies, they should be eagerly sought. Further supplies are expected at the end of the month by the Golden Cloud, which is also 'bringing packet seededs. Prices for all raisins remain unchanged, but the market is very firm and further advances are expected. TINNED FISH. The Lenleji season has stimulated the demand for all varieties of tinned fish. A fairly large shipment of salmon and pilchards was landed by the Aorangi, and will afford a welcome stand-by for merchants, as available stocks have been on the light Bide. POTATOES. 'l'he market for potatoes shows little change, ample supplies continuing to come forward. The Canterbury position has eased slightly as the result of rains. During the past fortnight quotations have touched £5 13s a ton f.0.b., but on Friday the price camo back 1o a nominal £5 Ids, very little business being done at that figure. North Island merchants, in any case, are operating sparingly. In the South it is considered that the rain has i-ome too late to improve some crops, although there is a number which should benefit materially. ONIONS. The market for onions is very firm, but there has been no advance on last week's rates. Some business is being done with Sydney, where a strong demand has arisen owing to drought iu Victoria, having greatly reduced the yield in that quarter. The pi ice-margin for export, however, is not a very substantial one. WHEAT. Initio movement hns taken place in the market for wheat. Through store grade is worth 6s 4d a bushel and sample Gs 2d. In the South the prompt position is a shade easier. OATS. The oat market is firm and there is strong inquiry for B Cartons, but all spot stocks are extremely light. Feed oats are being done at around 4s Id a bushel through store and A Gartons at around 4s 3d. CHAFF. The spot demand for chaff remains fairly quiet and stocks are plentiful. It i 3 worth £8 10s a ton through store. The market in Blenheim is displaying an easier tendency. MAIZE. Firm conditions prevoil in maize, only limited quantities of which are available Hy direct rail from the Bay of Plenty. Business in Auckland is passing at around Gs a bushel through store. South African whole is worth 6a 3d a bushel and crushed around 5s 3d. BRAN AND POLLARD. Values are unchanged for bran and pollard. Bran is worth £5 15s a ton through store. Local pollard remains at £6 a ton and Australian is selling at Gs 6d a cwt.

WOOLWORTHS CAPITAL. FURTHER PREFERENCE ISSUE. The directors of Woolworlhs (N.Z.), Limited, have decided to offer the company's remaining 20,000 9 per cent, cumulative preference shares to existing preference shareholders in the proportion of two preference shares for every three preference shares held by each shareholder 011 March 15. The issue will bo made at a premium of Is a shore. The present subscribed capital of the company, which is in its third year of operation in the Dominion, is £54,450 in £1 ordinary shares and £30,000 in £1 9 per cent, cumulative preference shares. The issue of 30,000 preference shares was made at the end of 1920 for the purpose of establishing additional stores in the Dominion. Last year, in addition to the preference dividend, the company paid 15 per cent, on ordinary shares. The last sale of the preference scrip in Auckland took placo in the middle of January at 255. LONDON DAIRY VALUES, PRODUCE BOARD'S REPORT. The Now Zealand Dairy Produce Board has received the following market report from its London office, dated February 19, prices for the previous week being given in parentheses:— Butter.—New Zealand: Salted, 110s to 112s (101s to 104s): unsnlted, 116s to 113s (110s to 112s); 110s to 112s equals approximately llAd a lb., f.0.b.; first, whey. 104s (98s); second, 102s (945). Deliveries. New Zealand, 2190 tons (last year 2400 ton's); in store, 3063 tons (last year 4800 tons). Australian: Salted. 105s to 108s (99s to 102s); unsalted, 110s to 112s; exceptionally good, 114s (104s to 105s). Deliveries, Australian, 2050 tons (Inst- year 1825 tons) ; in store, 2725 tons (1075 tons). Argentine: Unsalted, 104s to 110s (96s to 102s). Danish: 1535, f.0.b.; 154s to 1565, spot (145s to 150s). Dutch: Unsalted, 1265. The market is quieter after an active demand. The Continental demand for New Zealand butter is quieter at tlie higher prices, but is expected to come 011 again next week. The Danish retail price increased to Is 5d and is expected to be increased to Is 6d on Monday next. It is expected that the New Zealand retail price will be increased to Is 2d in the South of England on Monday, remaining at Is Id in tho North of England. Cheese.—New Zealand: White, 63s to 64s (61s to 635); coloured, 63s to 65s (62s to 645); 63s to 65s equals approximately 6jd, f.o.b.- Deliveries, New Zealand, 171104 crates (lust year 23,000 crates); in store, 38.817 crates (last year 107,000 crates). Australian: White and coloured, 62s to 63s (white, 60s to 61s; coloured, 60s to 625). Canadian: White and coloured, 68s, 70s to 72s (68s to 70s). Deliveries, Canadian, 6600 boxes (last year 4387 boxes); in store, 137,198 boxes (last year 163,449 boxes). The market is quieter at the latter part of the week. Tho New Zealand retail price is unchanged at Sd.

RAM FAIR AT KAIKOHE. The North Auckland Farmers' Co-opera-tive Company, Limited, report having held a very successful ram fair ill Knikobe on Saturday. Practically every sheep offered changed hands at satisfactory prices to the vendors. Flock Romneys averaged 21 guineas; Southdowns, „8i guineas j and Ryelands, 2} guineas. Aged rams Bold at from 2s <?d to 10s 6d.