TRADE OF THE WEEK.

New Zealand Herald, Volume LXIX, Issue 21129, 11 March 1932, Page 5

TRADE OF THE WEEK.

RETAIL AND WHOLESALE. QUIET TENDENCY CONTINUES. PRODUCE MARKET REVIEW. Except for movement in staple lines, trade conditions in tlie city have not altered during the week. Business generally lias shown an easing tendency, due purity to the present period being one of "iri.Lerseasonal" quiet, but more so to the failure of the Government to give a lead on questions affecting merchants. Under the circumstances, a fair amount of interhouse buying has developed, and buying in large lots lias bqen discouraged, indenting is slow, and a cautious policy is being observed by all firms. Importers will benefit to some extent by the improved position of the' pound sterling in relation to the dollar and the franc, as the more favourable rate will have the effect of lowering the cost of all imported goods from countries which are not operating on a sterling basis. However, merchants view with extreme disfavour the delay in ratifying the Canadian trade treaty. Pending acceptance of the treaty, many imports from Canada have gone into bond, where some goods have been stored for upward of six months. The movement in favour of a higher exchange rate is also disquieting, and merchants are uneasy regarding tho possibility of increased taxation. EASTERN MARKET. Tho recent Bharp increase in the pricen of sago and tapioca Ims been followed by a alight easing. The market remains firm. Pineapple prices have fluctuated and lair Quality pines are now quoted slightly higher. There is little variation in first quality. DATES. Prices for dates remain at the present levels, which are the lowest for some years. There is now only a moderate demand, but a seasonal heavy demand will set in during April. HEAVY HARDWARE. Owing to slackness in the building trade, there is little demand for heavy hardware. Owing to the uncertainty regarding exchange enly limited quantities are being imported. CREASE-PROOP PAPER. Spot supplies of grease-proof paper are short, but a shipment.is due toward the middle of April. Prices are slightly in advance of late quotations owing to the shortage. WALNUTS. A shipment of light amber walnuts arrived in Auckland during the past week, the quality being particularly good. Limited quantities are offering for April shipment, which ia the lust opportunity for delivery with full insurance cover. Fair stocks are held in Auckland. PRUNES. Cabled advice from America suites that the prune market is much steadier, with prices showing little variation. RAISINS. The market for raisins remains firm on the level of late quotations. There is a steady demand for unbleached reclassed Thompson seedless. There have been one or two slight reductions in oil bleached and golden bleached. Tho more favourable dollar conversion rate will have the effect of decreasing buyers' costs slightly. AUSTRALIAN DRIED FRUITS. Quotations for Australian dried fruits pre expected in Auckland this week-end. An all-round advance in price is anticipated. CANNED FRUITS. There fair demand for canned fruits and little movement is expected until after the fresh fruit season. Quotations are being sought from Australia. TEA. At ~this week's tea auction at Colombo 1,600,0001b. were offered. The quality remained very good. Low grades sold at very firm rates. Medium broken pekoes advanced <d a lb., while all other grades were slightly irregular. Fine teas are still being sold at an exceptionally high figure. 'Exchange is quoted at Is (5 13-32 d to the rupee, 90 days' usance. Next week's offering will total 1,050.0001b. POTATOES. There are ample supplies of local potatoes on the market. The price remains weak at £5 a ton on rail Pukekohe and £fi to £6 10s through store. Heavy supplies have arrived from Rangitikei and some business has been done in these at £7 a ton through store. The indications are that potatoes will be cheap for some months and there will be no sale on the Southern crop until well forward in May. ONIONS. The onion market generally remains firm and the present value is 10s (3d to lis Gd through store. It is expected that_ later prices will ease owing to the decline in exports duo to a favourable home market. Cabled advice from Sydney quotes Victorian onions at £l4 10s a ton and New Zealand at £ls. A fairly substantial shipment has gone forward to Honolulu and Vancouver. OATS, Stocks of oats are extremely low and the greatest difficulty ia being experienced in obtaining supplies from the South. Buyers are awaiting the new season's crop and merchants are active' in obtaining stocks for clients. Feed oats are worth 4s 3d a bushel and A Gartens 4s Cd. CHAFF. Heavy stocks of Blenheim are to hand, but the demand is proving adequate. A glut is not feared and the sale price through store is £8 10s a ton. FOWL WHEAT. The market for fowlwheat is steady, with a heavy demand. Ample supplies are coming forward weekly from the South. Graded is worth (is 4d a bushel and sample 6s Id upward, through store. MAIZE. The maize market is very firm. Only limited supplies are available, the price, through store, being steady nt (is 3d a bushel. Quotations are to hand from Java and South Africa, but the high rate of exchange makes importations' almost impossible, Gisborne maize is quoted at 5s 3d. f.0.b., and it is considered likely that the market will have to rely solely upon the Gisborne crop, which is not a very heavy one. For this reason it is probable that high prices will rule for some time. Negotiations arc in train for a shipment of crushed maize from South Africa, but theso are held up owing to the exchange position. BRAN AND POLLARD. It is sfill difficult to secure quotations for pollard from Australia and imports are affected by the exchange position. Most of the business is being done in local at £0 10s a ton through store. The local mills' price is £R a ton. Bran is also obtainable at £6 10s through store. BA.RLEY. The market for barley remains firm and there is a stoad.v demand. Prices are unchanged for clipped at 4s 3d to 4s Gd a bushel through store. NEW ZEALAND HONEY. LONDON SALES INCREASE. LONDON, March 9. Sales of Now Zealand honey in 1931 exceeded those of 1930 by 17 per cent. INTERNATIONAL TIN POOL. HOLDINGS AND RELEASE. British Wireless. RUGBY, March 9. In view of crronoous reports in regard to the tin held by the International Tin Pool, the chairman of the committee of control states that no part of tho pool's holding has or will bo released otherwise than in accordance) with tho sliding scale of prices approved by tho Government's statutory international tin quota agreement. The first release, amounting to 5 per cent, of the pool's holding, will be made only if and when the average price of spot tin on tho London metal exchange has exceeded £165 a ton during a completed calendar month. MARKET IN NEW YORK. NEW YORK, March 9. Tin (standard) futures were quoted today at 22.15 cents a lb., compared with 21.85 cents yesterday.