TRADE IN AUCKLAND

New Zealand Herald, Volume LXX, Issue 21480, 2 May 1933, Page 5

TRADE IN AUCKLAND

RETAIL AND WHOLESALE FAIRLY STEADY ORDERS PRODUCE MARKET REVIEW Rather brisker business is being experienced by the distributing trade in the city, owing principally to orders on the new month's account. These are fully covering seasonal lines, but there is little activity in anything beyond these requirement. Indent business remains slow and few changes in price levels are reported. The produce market is more active. The first large shipment of South Island potatoes arrived yesterday, but the market is a, little easier owing to the controversy in regard to the lifting of the Australian embargo on New Zealand potatoes.

WALNUT MEAT Cables from Tientsin shippers of Manchurian walnut meats advise that tho quality of certain packings is not now suitable for shipment to New Zealand. There are still supplies of best Quality light halvea. also light amber halves and pieces avail, able for export, but owing to the decrease in the local demand very limited business is passing at present. HARDWARE Steady business is reported in hardware, although the turnover is now greatly restricted owing to slackness in the building trade. Tho market for heavy hardware for farm purposes is inactive at presont, but it- is expected there will bo more inquiry in a few months' time. Owins to the cost, farmers are finding it difficult to buy new machines and a common practice i 8 to buy parts and make replacements on the farm. CORNSACKS A trade report from Calcutta states that steady trade in New Zealand cornsacks was in evidence for the March-April steamer during the first week in March, but by tho end of the month manufacturers were fully sold up for that position. Very little business was offering for November-December. Several small sales had been reported in bran bags for the March steamer. EASTERN STEAMER The quarterly steamer from the East, the Narbada, has cleared Samarang and is due here 011 May 13. The steamer is bringing supplies of sago, tapioca, pineapples and Rangoon rice, all of which lines will be readily accepted by the market. It is stated the Rangoon rice will land cheaper than Australian. POTATOES The opposition by the Australian growers to the lifting of the embargo on the importation of New Zealand potatoes has resulted in a slight easing in the market. Even if the embargo is lifted the agreement must be ratified by both Parliaments and as the New Zealand Parliament might not meet again until October, little hope is held out for any export to the Commonwealth this season. Digging operations in Rangitikei have been hampered by wet weather. The first substantial shipment of South Island potatoes of the season, comprising 28C0 sacks, is being landed by the Wingatui. The value through store ranges from 10a to £6 15s. In the South Island, tho value is around 80s a ton. . ONIONS X No further export outlet has been found for onions and ample supplies are available. Cheap rates are ruling in Australia. Prices on tho spot aro around £6 a ton through store. Another increase of a penny a bushel on milling wheat as arranged by the Wheat Board became effective yesterday and this will automatically affect th© price of fowlwheat. Current values are around 4s 6d to 4s 9d a bushel. A substantial volume of business is being done in sample wheat, which is offering at reduced values according to quality. The maize market is still dependent on old season's grain and, if anything, there is a slightly easier tendency in Gisborno. while holders in the Bay of Plenty districts are prepared to accept slightly reduced values to clear cribs in readiness for the new season's crop. It is understood the crop areas in the Bay of Plenty are greater than those of the previous year and the crops are looking exceedingly well with the result that lower values are expected to rule from Juno onward. The current value is nominally 4s lOd to 5s Id a bushel through store. OATS AND CHAFF Rates for chaff for railing from Rangitikei have firmed 5s a ton and holders in the South Island are also firm in their ideas, owing to tho colder weather stimulating the demand. Spot prices ran„e around JE6 10s through store, but to-day s values show a poor return to the growers. Oats are steady, but in view of the shghtlv better demand and the approach of polder weather stronger levels are being anticipated in the trade. Prices range from 2s Gd to 2s 10(1 a bushel according to quality. BARLEY The barley market is firm. A fairly large shipment arrived from Australia last week, but a substantial quantity was * or ing purposes. Unclirped is u l*™ 3s 8d and 4s a bushel through store. BRAN AND POLLARD Values from bran and pollard » r ® unaltered. Pollard is very firm m Australia and local prices were increased 10s a ton last week. Local pollard is worth £6 a ton through store. Small quantities of Ai s tralian continue to come forward as some users aro prepared to pay a premium of ss. to 10s a ton for this.

FOREIGN EXCHANGES STERLING AND' DOLLAR British Wireless RUGBY, April 29 The following rates on foreign exchanges are ourrent, compared with the cabled quotations on April 28 and

tNominal. *Pence to American dollar. The selling rate for telegraphic transfers, London on Capetown, is £99 17s 6d for £IOO sterling, and the buying rate £IOO 17s 6d, same as on April 28. CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced dates of departure of the vessels named are shown in the.following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked*:— Wirral, America, dollars .. . • 3.44J Golden Eagle, Canada, dollars . . 4.12 Golden Ennrle, America, dollars . . 3.42 Brisbane Maru, Japan, yen . . 15 i-32d Canadian Cruiser, Canada, dollars . 4.14 City of Tokio, America, dollars .. 3.4 U Hauraki, America, dollars . . .. 3.83 Hauraki, Canada, dollars . 4.10 NEW ZEALAND MONEY ABROAD The cost in New Zealand currency of the pound sterling and of the principal foreign units, on tho latest quotations, is as follows: —

These valuations represent the current rates at which banks sell drafts payable on demand.

par: — April 29 April 28 Par Montreal, dol. .. New York, dol. • Paris, fr. Brussels, belga .. Geneva, fr. 4.38 3.84 86 X-1G 4.345 3.78 86 7-16 4.866 4.866 124.21 24.245 17.54 24.345 17.605 35.00 25.22 12.10 92.46 20.43 18.159 18.159 18.159 Amsterdam, fl. .. Milan, lire Berlin, r.m. Stockholm, kr. .. Copenhagen, kr. . Oslo, kr. Vienna, seh, . . 8.43 65.25 141 192 22.45 19 9-16 8.45 65 15-32 14.705 19.325 22.45 19 9-16 33t 32.50t 34.585 164.25 129.23 25.221 110 375.00 Prague, kr. Helsingfors, mark Madrid, pes. 114 1141 226 39 i 226 39 13-16 Lisbon, escu. 110 110 Athens, dr. 592.50 600 Bucharest, lei. .. 572.50 570 813.6 5.899d 47.61'Jd 51d 18d . Rio de Janeiro, mil. 5J + 51t Buenos Aires, dol. 41 41.25 Montevideo, dol. 33.50t 33.50 Bombay, rupee . 18 5-64d 18 l-16d •Shanghai, tael . 15.25d 15.25d — Hongkong, dol. . Yokohama, yen . Batavia, fl. Belgrade, din. 16.75d 14 5-16d 8.45 250 16.75d 14 l-16d 252.50 24.5Sd 12.10 276.31

Present Price Par s d 8 d London, pound .. .. 24 11.58 20 0.00 Australia, pound . .. 20 0.00 20 0.00 New York, dollar . • £ 10.56 4 1.31 Montreal, dollar . .. 5 10.85 4 1.31 Paris, franc .. 0 3.48 0 1.98 Berlin, mark .. 1 8.49 0 11.74 Coponhagen, krone . . 1 1.35 1 l.OO Yokohama, yen . . . . 1 5.87 2 0.58