TRADE OF THE WEEK

New Zealand Herald, Volume LXIX, Issue 21346, 22 November 1932, Page 5

TRADE OF THE WEEK

RETAIL AND WHOLESALE

EXCHANGE UNCERTAINTY

POTATOES IN FULL SUPPLY

The exchange question is the chief topic of city trade circles at the moment and business houses generally are concerned with the possibility of an increase. This ' has stimulated activity in certain directions, but the effect of the renewed controversy has been mainly to increase uncertainty in markets. Most lines for Christmas trade, however, have already arrived, and distributing houses expect to jnake large clearances this month. In some quarters orders have not come up to expectations, but better results are anticipated from t,o-day onward. Heavy supplies of new potatoes continue to come into the auction marts and low values are ruling. Onions have also eased in price, but normal to quiet conditions exist in other produce and grain markets. CHERRIES A reduction of 3d a lb. is being announced in quotations for extra choice English cherries. » PRUNES As quotations for new season's Californian prunes were considered quite favourable a large volume of business was cabled last week-end for spread shipment up to next August. All this has been accepted by San Francisco shippers, but prices are now slightly higher for these deliveries. RAISINS With the exception of a reduced offer by ono shipper for a quantity of sub-standard raisins, the market for all grades remains unchanged, hut/as prices are considered very favourable, considerable business has been placed for both prompt and forward deliveries. PINEAPPLES Prices for Singapore pineapples are reported by one house to bo a little easier this week and as quotations named include exchange some fairly large orders have! been booked for the next direct steamer sailing on December 15. "With the warmer weather the demand for canned pineapples is much brighter and a number of merchants, who considered their supplies were sufficient, have had to place further orders. PEPPER Late cabled quotations show a very slight easing in prices for pepper and it is difficult as yet to gauge the market. Reports from tho East do not indicate that a further reduction in prices is likely, but at the same time there is no indication of a marked rise. NUTMEGS Prices for nutmegs remain firm and on the high side in comparison with tho quotations named at this time last year. However, as tho season is now approaching for this line buyers have begun to purchase. FIGS Prices for 7lb. linen bags of standard grade figs and 2Slb. jute bags have been quoted for December shipment from Bnsra at an advance of 3s a cwt. on September levels. DATES London shippers are advising an advance of 6d a lb. on bulk Sair dates and 2s 6d a cwt. on stoned dates for April shipment from London. Forward shipment prices are la a cwt. higher. POTATOES Heavy supplies of new potatoes are passing through auction and are being sold at a very low rate, which, in some cases, cannot U; giving the growers an adequate return. As the result of the low prices ruling many growers are not now hurrying their supplies forward. Through auction prices ranged from 2s 6d to 3s a bag yesterday. ONIONS The demand for onions is below expectations and ample stocks are held. Melbourne onions are being quoted, but it does not appear that any importations will be made for some time to come. Stocks of Canadians are being worked ofi at from 16s 6d to 17s 6d a case. The new crop at' Pukekohe i 3 etill some distance oS maturity. FOWL WHEAT A steady demand is being maintained for fowl wheat. Values remain unchanged at from 6s 2d a bushel through store to 5s 9d a bushel from tho ship's side. MAIZE There ha 3 been no marked movement in the maize market. Holders in Ihe Bay of Plenty are steady and through store Auckland it is being done at around 5s 3d a bushel. OATS AND CHAFF Turnover in oats and chaff is small. Holders in the South Island appear anxious to clear stocks in order to make room for wool. Feed oats are selling at around 33 lOd a bushel and-chaff is unchanged at £S 10s a ton. AUSTRALIAN BARLEY Business in Australian barley is satisfactory, but spot stocks of the past season's barley are not being added to owinc to tho proximity of the new season's grain. BRAN AND POLLARD The price of bran remains steady at £5 10s a ton from the local mills. Tho Australian market for pollard is very firm and users are paying a premium for spot stocks owing to its superior quality. The mills' price of the New Zealand line remains unaltered at £6 a ton and Australian is being dor.o at £G 15s to £7 a ton through store.

DAIRY PRODUCE PRICES

NO CHANGE IN MARKET

No change has occurred in the London dairy produce market, which continues weak for both butter and cheese.

Merchants have received the following cablegrams from their London houses, dated November 19:—

Joseph Nathan and Company, Ltd., from Trengrouse and Nathan, Ltd.—Butter: Finest, 90s; first, 89s. Cheese: White, 60s; coloured, 58s. Both markets are weak.

Dalgety and Company, Ltd., Jrom Samuel Page and Son.—Butter: Prices are 2s to 3s a cwt. lower. Cheese: Prices are Is to 2s lower. Last, quotations were:—New Zealand finest butter, 90s to 945; white cheese, 60s to 625; coloured' cheese, 58s to 595.

PREMIER TOBACCO COMPANY

FACTORY BUILDING IN NELSON

A emitract for tlie' construction of a factory building in Nelson was signed last Friday in Nelson by the directors of the Premier Tobacco Company. The premises will be erected on a new reclamation at the extranee to I he city from Port Nelson. The building will be completed by tlio beginning of March.

WESTPORT COAL COMPANY

, PROFIT OF £17,973 FOR YEAR

[by telegraph—own correspondent} DUNEDIN, Monday

The annual report of the. directors of the Westport Coal Company, Limited, states that the profit for the year, after providing for bad and doubtful debts, depreciation and all charges, amounts to £17,973, to which must bo added £8352 brought forward from last year, making a total of £26,305. .An interim dividend of 6d a rharo was paid for tlio half-year curled March 31, 1932, amounting to £11,250, leaving a balance to lie dealt with of £15,055, out of which the directors now propose to pay a dividend of 3d a share for the halfyear ended September 30. which will absorb £5625, and carry forward to next year's account £0430.

The. net profit for the year shows an increase of £5473 on that earned in 193031, and a decrease of £IO,OOO on the earnings in .1929-30. v During the past year capital has been reduced from £500,000 t0'£250,000 by a refund of 10s a share in 1933 per cent Inscribed Stock at par. The total dividend of 9d a share fully paid at 10s, compares with Is 9d a share fully paid at 20s in 1931-