TRADE OF THE WEEK.

New Zealand Herald, Volume LXIX, Issue 21164, 22 April 1932, Page 5

TRADE OF THE WEEK.

RETAIL AND WHOLESALE. MOVEMENTS OF PRICES. PRODUCE MARKET REVIEW. Although trade conditions in the city early this week were affected by the disturbances which developed just prior to last week-end, business during the last few days has been conducted on normal lines. Distributing houses have experienced a busy week with the preparation and despatch of orders on May account. These have come in quite well, the coun-' try particularly showing greater inclination to buy larger stocks. Winter lines have been in noticeably wider demand. BRAZIL NUTS. Lowor quotations are now available for new season's Brazil nuta in shell. Fine hold Para grade have been reduced £2 a lon for prompt shipment, but for August shipment a slightly higher rate is being aslsed. Prices for shelled Brazil nuts have also declined Jd a lb. for both prompt and lorwurd shipment. CREAM OF TARTAR. Offerings of Australian cream of tartar have been extended at present rates up to June shipment. Previous quotations were made on the basis of shipment up to the end of April only. EASTERN PRODUCTS. Lower prices rule at Singapore this week for July-August shipment. A further reduction of 3d a cwt. is announced in sago and tapioca. Pineapples are about the same. These are the first prices named for the July-August opportunity and appear exceptionally attractive. VEGETABLE OILS. Tho vegetable oil markets are reported from overseas to be firm, with an upward tendency. Since Great Britain left the gold standard practically all the business in bakers' oils, which had previously to America, has gone to the United Kingdom. Buyers state that the English oil compares quite favourably with any previously imported, with the added advantage of a lower price. PEPPER. Owing to tho prevailing low prices for Singapore pepper a fair amount of business has been completed by local millers, on the advice from the East that markets are more inclined to advance than to ease. DATES. Stocks of good dates held in warehouses in Great Britain are reported to bo growing very scarce. Recent arrivals at New Zealand ports have been very heavy and these, with the further quantities that have been booked forward by local merchants, are well under to-day's replacement costs. TEA. This week's tea auction at Colombo comprised 3,250,0001b. Quality showed a further falling off, but was still coloury nnd useful. It is expected that quality will be plain at the end of this month. There was a good general demand. For common kinds the market was strong nnd for others irregular and generally easier, owing to inferior quality. Exchange is quoted at Is 0 9-32 d to the rupee, 90 days' usance. Next week's catalogue will comprise about 2.;,00,0001b. POTATOES. The potato market continues to be well supplied with local potatoes and also a few from Rangitikei. An improvement has taken place in the quality of the local supply and they are being sold at £6 los a ton through store. Southern potatoes are qxpected to appear on this market in greater quantity next week and the prices asked indicate n selling valuo around £7 10s to £7 15s a ton. The Southern and local markets are very steady. ONIONS. The position in regard to the onion market is quiet and the price is steady at £l2 n ton through store. A small quantity of South Island oni6ns is available at lis Od a cwt. WHEAT. No alteration has occurred in the price of fowlwheat, which is firm at late prices. It is worth 6s 4d to 6s od a bushel through store. OATS. Oats are offering a little more freely, hut trrade oats are etill scarce. The price of sample is around 4s 3d a bushel. B evade 4s sd, and A grade 4s Bd, through store. CHAFF. Business in chaff is very dull and nmplo supplies are available. Good quality Blenheim chaff is being done around £S 103 a ton. through store. MAIZE. Local stocks of maize are very light nnd the price is firm at fis od to (is Gd a bushel through store. A shipment from Java is expected early in May. and another from South Africa toward the end of that month. Information is now nvailnhlo that the. South African shipment will include a substantial quantity of whole maize as well us crushed. Tho Java maize is now being done at 6s 2d to 6s 3d a bushel, ex ship's side, fumigation costs, if incurred, extra. BARLEY. There is still a good demand for Australian clipped Barley, which remains firm. Tho price is from 4s 3d to Is 6d a busliol through store. BRAN AND POLLARD. Very little business is doing in bran. Prices nre unchanged. The demand for pollard is good, and weekly shipments from Australia continue to meet requirements. Prices aro steady at £6 10s to £6 15s, through store. FERTILISERS. Deliveries of fertilisers continue stendilv nnd a good demand is expected to continue throughout May.

THE LONDON MARKETS. PRICES FOR METALS. TIN FIRMER AGAIN. (Received April 21, 10.5 r.m.) LONDON, April 20. (Quotalions on April 19 in parentheses.) Copper.—Spot, £29 12s 6d (£29 16s 3d); three months, £3O l s 3d (£3O 3s lid). Electrolytic Copper.—Spot, £34 (£34); three months, £35 (£36). Wire Bars.—£3s (£36). Lead—Spot, £ll 6s 3d (£ll 6s 3d); three months, £ll 12 S 6d (£ll 12s 6d). Spelter—Spot, £l2 7s 6d (£l2 ss); (hire months, £l2 7s 6d (£l2 6s 3d). Tin.—Spot, £IOB 8s 9d (£lO6 8s 9d); three months, £llO 8s 9il (£IOB 14s 4^d).

WOOLWORTH'S (N.Z.), LTD. LARGELY INCREASED TURNOVER. The trading results of Woolworth's (N.Z.), Limited, for hist year were the greatest ever achieved hy the company, so Mr. 0. Sr.ott Wain, chairman of directors, informed shareholders at the annual meeting in Wellington on Tuesday. Every store showed a satisfactory increase on the previous year's turnover, and the total increase was approximately 22 per cent. Since the company first, started operations its turnover had increased .1519 per cent,., allowing for the turnover of the stores owned by subsidiaries. The increase in turnover was largely the cause of the increase in net profit, but., on the other hand, increased duties, sales tax, and other charges, together with increased competition, had the effect of slightly reducing the rate of gross profit. As a result of improvement in the organisation of the company (he expense ratio had been decreased. Every store of the company was conducted at a profit. Referring to the financial position of tho company, as shown in (ho. balancesheet, Mr. Wain expressed the opinion (hat this had been considerably improved during the year, both as regards the cash position and the stock position. Stockdebtors and cash exceeded liabilities by £66,466, as against an excess in the previous balance-sheet of £34,554. This is after providing £11.696 for expenditure on capital assets and £15.000 repayment on accounts and mortgages. The company's assets were revalued by competent authorities during the year, and the surplus of this revaluation was used for the purpose of making a bonus issue. Two new stores were opened during the year by the parent company and throe by the" New Zealand subsidiary.