TRADE OF THE WEEK

New Zealand Herald, Volume LXXI, Issue 21733, 23 February 1934, Page 5

TRADE OF THE WEEK

RETAIL AND WHOLESALE STEADY TONE MAINTAINED RISE IN PRICE OF POLLARD Trade conditions in the city are unaltered. Distributing business has gathered impetus this week as the result of the delivery of orders on March account, which came in very well. The demand for most lines is normal and stocks are sufficient. Indent business is not heavy and there is evidence of efforts to reduce stocks of certain lines in preparation for stocktaking at the close of the financial year. The chief development in the grain and produce market was the increase of 10s a ton in tho price of pollard, which took effect yesterday. Grain markets are steady, but both potatoes and onions are easier. CREAM OF TARTAR Crenm of tartar from Italy is being offered at a considerable reduction or. the price quoted for either English or Australian. HERRINGS AND SILD Quotations for English herrings in sauce and kippered have recently been named at more favourable rates. The market for English sild is reported firm, with advancing prices. CASTOR Oil, Quotations for finest quality medicinal castor oil have been reduced .£1 a ton for prompt shipment from Marseilles. In view of the appreciation of the franc this reduction was rather unexpected. EASTERN MARKETS Regular business is being done in Eastern markets for shipment by the next direct steamer loading in March-April. This week's cablegrams advise »n unchanged market for sago and tapioca. Nutmegs have advanced and fair quality pineapples are showing a slightly fjrmer tone, with fluctuations within narrow limits in other grades. There has been no change in the market for pepper. TEA The quantity of tea offered at this week's auction at Colombi was 1,830,0001b. There was a strong general demand. Common grades were firm and others dearer, according to quality. Exchange is quoted at Is GJd to the rupee, 90 days' usance. Next week approximately 1,500,000jb. will be offered. The Calcutta market is closed. Tea is now landing in Ne / Zealand at a very high cost and the price aspect is again causing concern to blenders. Import* of tea into the Dominion for the last five years have been as f0110w51929. 12.050.0001b., value £234,731; 1930, 10,141.0001b., £703,095; 1931. 12,115.0001b., £650,550: 1932, 10.415,0001b., £37P,G80; 1933. 11.G00.0001b,, £493,590. The bulk of the tea came from Ceyloil. The source of origin of last year's imports was as follows; Ceylon, 9.5G8.3421b.: India, 1.909.1871b.; China. H3.0051b.; Java, 76621b. The Federal Government of Australia recently instructed the Customs Department to expedite its inquiry into the tea situation in Australia. The reasons advanced by tea merchants there for recently increasing prices in the Commonwealth was that output had been restricted in producing countries. The Government, however, is anxious to verify this statement, and to discover I whether there are not other factors in- ! volved. If it is proved that the increase •was not entirely justified, it is suggested that Government action may be taken to reimpose the higher customs duly on tea to the level obtaining before the presentation of the last Budget. The Government afforded the tea merchants relief to the extent of i' 320,000 ft year by reducing the duty by Id per lb. and by removing the 10 per cent primage chargf. _ CANNED FRUITS The surplus fruit crop in relation to the canned fruits industry is receiving considerable attention in Australia. An estimate was submitted to a recent conference in Melbourne of the representatives of the Government and the canners that 5000 tons of peaches would not be processed this season unless arrangements were made to do so by ths Government, because the present market price was low, nnd the canners feared that they would come into competition with last season's heavy carry-over. The conference considered it would be criminal to allow such a quantity of food to rot on the ground, and that assistance would have to be given to the industry. The guaranteeing of the canneries to enable them to process the fruit was suggested and the conference is to meet again tc discuss the proposal with representatives of the Federal Government POTATOES The potato market is well supplied and some lines are being offered nt very low rates, but quality is not altogether satisfactory. The wholesale price of standard quality on trucks at Pukekohe is £6 ij. ton, while through auction they are worth 3s Cd a Dag. ONIONS The onion market is inclined to weaken under the stress of heavy deliveries. Prices range around 7s per cwt. FOWLWHEAT The fowlwheat market is very steady, but merchants are generally holding oS buying in anticipation of slightly lower rates during the harvesting season," which will extend until the end of March. The value through store is around 4s 9d to 4s lOd a bushel. MAIZE There has been no alteraiotn in the maize market. Supplies in the growing districts remain in very firm hands. Through store, Auckland, stocks are worth from 4s 6d to 4s Sd a bushel. OATS AND CHAFF The demand for oats is very limited. Southern holders are anticipating a shortage of feed oafs and are maintaining a higher price level than last year. -The current price through store Auckland is around 3s 3d a bushel. The market for chaff is quietly steady, with a poor demand. It is worth from £7 10s to £7 15s a ton through store. 3RAN AND POLLARD An advance of 10s a ton was announced in the price of New Zealand-milled pollard yesterday. It is now selling at £6 15s a ton through store. Fair stocks of Australian are still held in Auckland and this is worth around £7 a ton through store. The market for bran is Bteady at £6 5s a ton through store.

COCOA PRODUCERS PROPOSED CONFERENCE (Received February 22, 6.5 p.m.) British Wireless RUGBY, Feb. 21 In the Houso of Commons to-day, Mr. Malcolm Mac Donald, Under-Secretary for the Dominions, said tho Government considered that the most practical step to assist cocoa producers in Trinidad would be to press on the arrangements for a general conference between representatives of the countries substantially interested in the production of cocoa. PAYMENTS FOR POWER BAY OF PLENTY FARMERS [VKOM OUR OWN CORRESPONDENT] OPOTIKI, Thursday At a meeting of the Bay of Plenty Pow or Board a Tetter was received from the Rnngitaiki Dairy Company asking that, in view of the low price of butterfat, users of power whose meters are road quarterly be given two months in which to pay their accounts without tho penalty being imposed. The engineer said consumers had a fair idea of what their power account amounted to each month. They could pay the board each month and the account would be adjusted accordingly at the quarterly reading. It would cost approximately £SOO a year extra to have the meters read monthly on account of tho extra travelling over a wide area. Mr. Burrett moved that the managerengineer be empowered to confer with the secretary of the dairy company and to make the best arrangements for payment from monthly milk cheques. The motion was carried. PROPERTY SALES T- Mandeno Jackson will offer at auction at their rooms. 3 Swauson Strut, at. !1 a.m. to-day. property of the late Robert Burns, comprising two-storey housa of 10 rooms, nil conveniences, earace. etc., on about 1} acres, laid out in garden*, lawn*, shrubs, tennis court, etc., at 77 Remuera Road. Dil» worth lease, about 43 years to go at £42 a year: bungalow of fi room?, conveniences, parncc, etc,, on section 03ft by 270 ft. at f) Ascot Avenu<\ Remuera: bmldinc section, with 50ft frontage to Remuera Roa4, by depth of 168} ft, with. 18it entrance from Hastings Road,