TRADE OF THE WEEK

New Zealand Herald, Volume LXXI, Issue 21875, 10 August 1934, Page 7

TRADE OF THE WEEK

RETAIL AND WHOLESALE QUIETER CONDITIONS RULE SHORTAGE OF POTATOES Quieter conditions have existed in tlio distributing trade in the city this week, but on easing in the volume of business is a usual temporary phase at this period of the month Overseas' markets remain very steady and indent business is quiet.

The delay to vessels loading in the South as a result of the shipping dispute has completely changed the position of the potato market. Supplies in Auckland at present are scarce, and it j is considered the market is likely to j become bare before the Wingatui ar- j rives with the next consignment. The \ vessel is now due about Thursday, in I the meantime prices are distinctly i firmer. Another feature of the grain j and produce markets is the sharp rise ; in pollard reported from Australia. ' Stocks are not large in Auckland, and ! xt is possible that the movement, if maintained, may bo reflected in higher prices here. EGG PRESERVATIVES The decline in the 'market for eggs has resulted in a keen demand for egg preservatives from both town and country retailers. An active movement in stocks of preservatives is always experienced at this period of the year, when tho egg market is in buyers' favour. DRIED FRUITS Prices of present crop California!! prunes for prompt shipment from San Francieco are again easier, all sizes having been reduced by from Is Cd to 2s 9d per cwt. Quotations for present season's goldc-n bleached raisirts also have been reduced, the most popular grade, extra choice, now being offered at Is below previous prices. EASTERN PRODUCTS This week is the last opportunity for the booking of Singapore goods for despatch bv tho July-August direct steamer, which has already left Calcutta. Latest cablegrams advise a slightly easier market for tapioca and sago and pepper, while only small movements have taken place in pineapples. TEA Tlio offering of tea at this week's auction at Colombo amounted to 1,910.0001b. Quality showed an improvement. There was a strong general demand, all grades' advancing. Commons rose Jd and mediums id per lb. Fine sorts were considerably dearer. Exchange was unaltered. Next week's auction will comprise approximately 1.810,0001b. The market at Calcutta was firm at late rates. POTATOES A fairly acute shortage of potatoes exists in the spot market, and it. is doubtful whether supplies will be sufficient to meet requirements until the Wingatui's arrival about next Thursday. As a result prideg havo advanced sharply to around £6 10s a ton through store for whites, and £7 a ton for reds. New potatoes are not yet coming forward in sufficient supplies to hflvo any effect upon the market. Owing to the cold weather experienced no great weight of new potatoes is expected to be available until {he October or. at tho earliest, late next month. ONIONS The South Island onions shipped to the Auckland market recently have met with a f.ood sale, and further supplies are coming forward. Business is still beina done in Pukekohe onions, but the competition from Southern has held prices in check to somo extent. Southerns are worth from £8 to £3 Jon a ton through store, and Pukekohe around £ll 10s a ton. FOWL WHEAT The fowl wheat market is firm in the South Island, but Auckland prices havo shown no movement. Present rates are uround 4s 10d to 5s a bushel through store. MAIZE The maize market is being influenced by the rising tendency in wheat, and is firmer. Old season's is worth from 4s Id to 4s 3d a bushel through store, and new season's 3s lOd to 4a a bushel. OATS AND CHAFF Tho inquiry for oats is not heavy, but there is a steady demand for chaff, a slightly larger supply of which is offering from Canterbury. Prices remain at late rates. BRAN AND POLLARD Bran and pollard prices on enpt are unaltered. but advice has been received of a sharp advance in pollnrd in Sydney, and this !b being reflected by a firmer tone in tliC market in Auckland. PEDIGREE PIGS SALE AT HAMILTON HIGH PRICES REALISED [from our own correspondent] HAMILTON, Thursday Pedigree pigs from tho stud of Mr. A. T. Rogers. Ngaruawahia, were sold at the Clnudelands Show Grounds to-day and realised exceptionally high prices. Buyers were present from all parts of the Dominion and numbered over 300. About 200 pigs were offered for sale and competition was very keen. The auctioneers wore the Farmers' Co-opcrativo Auctioneering Company, Limited. , The majority of tho offering were pedigree Tamworths, with a few lines of Brrkshires. Dcvons and cross sows. Tho sale was the first annual clearance conducted by Mr. Rogers Tho top price of 53gns was paid by the Cheltenham Dairy Company for the Tamworth bow Mountley's Golden Girl I. This sow was first at a number of important, agricultural shows, including Auckland and Hamilton. The following sold at prices well ahovo the average for the sale of Mountleys: —Palrnerston Queen sth, 47gns, to Mr. T. Rnyncs (Waihou); Mountley's Ngaruawahia King Ist, 40gns, to Mr. A. McLean (Whakatane); Mountley's Ngaruawahia Queen 2nd. 3Sgns, to Mr. R. Korr (Whangnrei); Mountley's Majesty Queen 2nd. 3Ggns, to the Ruakura State Farm; Mountley's Majesty Queen 3rd, 31gns, to Mr. F. O. Ogle (Normanby); Whnta Red Lady 2nd, 30gns, to Mr R Chilcott (Frankton); Mountley's Merry Maid 2nd. 2G}gns, to Mr. G. Jamieson (Horotiu); Ferndale Bonney, 25gns, to Mr. G. Jamieson (ITorotiu); Mountley's Stella 2nd, 25gns, to Mr. A. McLean (Whakatane).

FINANCIAL CONDITIONS AN AUSTRALIAN REVIEW Discussing financial conditions in Australia, Mr. J. M. Gillespio, chairman of the Land Mortgage Bank of Victoria, Limited, said at the annual mooting recently that in the past 12 months it had been very difficult to earn profits from tho investment of money in the ordinary safe channels, and rates of interest continued at a reduced level. Uncertainty regarding the stability of present values, particularly of residential buildings, coupled with the difficulty in collecting interest and rents under the provision of tho Financial Emergency Acts, had made mortgage investments unattractive. The high prices realised for wool during the past season eaused a fooling of optimism to prevail in some Quarters, which had been evidenced in tho greatly increased activity i?i the market for motor-cars and in the building trade, more particularly in the ereetiort of a large number of residential flats. With the exception of the wool market, prices obtained for primary products had been An a low level, and in view of the recent heavy fall in the overseas wool market tho national income was likely to show a contraction. WHOLESALE PRICES British Wireless RUGBY, August 8 Tho Board of Trade Journal states that the average of wholesale prices in July showed a decrease of 0.1 per cent compared with Juno and an increase of 1.3 per cent over July, 1933. PROPERTY AUCTIONS T. Mmndeno Jackson will offer at auction nt his rooms, 3 Swnnson Street, at 11 o'clock to-day, 203 J acres farming land and house, six looms, near Putariuii. Snmuel Vaile and Sons. Limited, will offer nt auction at its rooms. 813 Queen Street, at 2 p.m. to-day. two-storey building at 171 Albert Street, City, and a house, six rooms, e,t 15 Vermont Street, Ponsonbx.