TRADE IN AUCKLAND

New Zealand Herald, Volume LXIX, Issue 21292, 20 September 1932, Page 5

TRADE IN AUCKLAND

RETAIL AND WHOLESALE BETTER TONE DEVELOPS PRODUCE MARKET REVIEW Increased activity has developed in distributing trade in the city this week on account of October deliveries. Good busi- j ness has been done, and generally there is a much better tone throughout the city. j Active conditions exist in the grain and : produce markets, particular interest centring in potatoes, which appear likely j to be short before the main new crop is ready. Onions are still bringing high prices, although the arrival of the Japan-, ese shipment has bceh responsible for a slight easing. CHERRIES I An. advance is reported in the market for 1 English drained cherries. I MADAGASCAR BEANS Higher prices are being emoted by shippers : of Madagascar butter beans. One agent has announced an increase of Is per cwt. in new crop supplies. CANARY SEED The market for both Argentine and Turkish canary seed is showing a firmer tendency, PRUNES Slightly lower offers have been made for new season's prunes for September-October shipment from San Francisco, but the market is not expected to recede further, and considerable bookings have already been made. • , - 1 ■ DRIED FRUITS , The market for new season's Thompson's j seedless raisins is now firmer and prices i have been advanced 9d per cwt. Still higher prices are being asked for spread shipment up to June next and there appears little likelihood of any weakening. Seeded raisins in cartons are being offered at .most favourable rates for both prompt and forward delivery. It is reported that present stocks of Malaga seeded raisins .are practically sold and that good business is being done in new season's for September-October shipment, BRITISH "WOOLLENS The British Trade Commissioner's Office in New Zealand is advised that the inabilitv of British woollen manufacturers and merchants to obtain payments from manv markets is becoming very serious. It is reported that in many cases they are unable to accept new business which may be offered, and it is also stated that shinning houses are holding orders back because of unsatisfactory credit reports from overseas. JUTE Writing from Calcutta under date August 20, Hoare, Miller and Company, Limited, state that since the issue of its last iute market report there had been a very sharp ' advance in the market and rates for all 1 clusses of goods hid appreciated rapidlv. An extensive trade had been done with the mills, both by shippers and Ihe bazaar, where a feeling of greater confidence prevailed, for all deliveries up to Juue next year. During the last day or two, however, there had been a fairly stiff reaction due to profit-taking in the bazaar and a falling-off in export demand, the market closing weaker. Not much interest had been taken in New Zealand cornsacks and bran bags. Only small transactions were reported in woolsacks and mills' ideas for the forward positions were still above the price at which overseas buyers might be induced to operate. POTATOES The potato market remains firm. About 1800 sacks were landed by the Port Waikato and a further (>OOO by the Waipiata, the two shipments including over 2000 sacks of seed. The market is very firm in the South and sellers there are asking £1 tt ton f.o.b. Through store Auckland yesterday. thev were worth around £9 10s a ton. In view of the lateness of the near-Auckland crop South Island potatoes are likely to be required for this market for at least another six weeks and in consequence of the small quantities held in the South Island higher prices seem inevitable, especially for October delivery. ONIONS The onion market is still exceedingly firm. The direct shipment from Japan arrived, on Saturday and owing to the length of time occupied' by the vessel on the voyage deterioration was rather marked. The first Canadian shipments are due by the Aoranei and the Waikawa in the first week of October. The value to-day is from 27s 6d to 30s a case. A slight reduction is expected.following the arrival of the Canadian supplies. FOWLWHEAT Fowlwheat is very firm in the South Island. A shipment of Australian arranged bv the Government is due at the end of the* month by the Kalingo. On account of the low prices being realised for eggs poultry keepers are showing tendency to reduce rations and use more' bran and pollard and cheaper grains. Values through store remain unaltered, with lower rates offering for sample lot 3' MAIZE With supplies in the Bay of Plenty and Gisborne districts moving into firmer hands, the maize market is stronger and the outlook is for higher nnces. Ample stocks of crushed are held. New Zealand whole grain is worth around 5s 3d a bushel through store. Auckland, and. South African around 6s Gd. Crushed is being done from 4s Jd to 5s a bushel. OATS AND CHAFF The market for oats and chaff is quiet and unchanged. Feed oats are worth 4s 4d a bushel through store tnd chaff from £S to £S l0S " BARLEY Australian feed barley is in steady de- | mand, with prices unaltered. BRAN AND POLLARD The demand continues strong for • bran and pollard, but with • the general benefit pastures received as the result of last week s rain inquiry is expected to ease. No movement has been registered in prices NEW COMPANIES AUCKLAND REGISTRATIONS The following companies, the first public and the second private, have been registered in (Auckland : King Drencher, Limited, to acquire from Edward Proude Longdill the patent rights of tlie invention known as the "King" drencher. Capital, £2500 in £1 shares. Subscribers: E. P. Longdill, 415 shares; J.' Foley, ,T. H. Sutton, R. W. Pacey and J. P. Kidd, 25 shares each; J. Scott, 20 shares; E. Hamilton,' five shares. R. Forgan and Son (New Zealand), Limited, manufacturers, importers, exporters and wholesale and retail dealers in golf clubs and sporting and fancy goods of all descriptions, etc. Capital, £SOO in £1 shares. Subscribers: Robert Forgan and Son, Limited, golf club manufacturers, St. Andrews, Scotland, and J. Yoclc and Company, Limited, Auckland, 250 shares each. INCREASES IN CAPITAL Dunedin Theatres, Liihited, registered in Auckland, has increased its capital by £SOOO to £II,OOO. New Zealand Limited, "registered in Auckland, has increased its capital by £575 to £1575. Maximum Pumps and Engines, Limited, registered in Auckland, has increased its capital by £2500, - Challen Rad Distributors Company, Limited, registered in Auckland, has increased its capital by £4475 to £6OOO. O.K. Cafe, Limited, registered in Dunedin, has increased its capital by £4OO to £6OO. Wairoa Co-operative Dairy Company, Limited, registered at Napier, has increased its capital by £SOOO to £20,000. Eltham Co-operative Dajry Factory Company, Limited, registered in New Plymouth, lias increased its capital by £IO,OOO to £70,000. WERE'S TRUST RESULTS DIVIDEND PAYMENT RESUMED Increased earnings are disclosed by Were's Investment Trust, Limited, Melbourne, for tho year ended June 30. Tho net profit, after setting aside £ISOO for income tax, was £11,996, compared with £7672 for the preceding year. With £867 brought in, there is £12,863 Uvailable. No dividend was paid for 1030-31, but 2J, per cent is recommended tor 1931-32, requiring £9375. The sum of £3260 is transferred to investment fluctuation reserve, leaving £228 to be carried forward.