TRADE OF THE WEEK

New Zealand Herald, Volume LXXI, Issue 21899, 7 September 1934, Page 7

TRADE OF THE WEEK

RETAIL AND WHOLESALE CONDITIONS MORE FAVOURABLE FIRM PRODUCE MARKETS Distributing business in the city is being maintained on a favourable basis, ivitli a good l volume of trade in all seasonal commodities. Fewer price variations have been reported, but a, i tendency to irregular movements has i Keen noted! in the market for Californium dried fruits. The supplies of Canadian: salmon, which arrived by the Niagara,. did not include as large a quan- j trity of chums grade as was expected j and in consequence the market will! be short until next shipment. The Marama brought some transhipments of peanut kernels from Sydney, which have come ; to a ready market. Further supplies of unknown quantity are due to-day by the Narbada, which is bringing her usual Eastern cargo. The heavy supplies of potatoes from j the South Island' have weakened the market substantially, but a further downward movement is not expected,: especially in view of the fact that the ; next shipment will be late. Markets for ! all grains are strong, together with that for pollard. • DESICCATED COCONUT A slight upward movement in the market | for desiccated coconut- for both promnt and i forward shipment is reported. EASTERN MARKETS No changes in quotations for sago and tapioca aro reported from Singapore this, week. Popper has moved, up another l-8d per' lb. Pineapples remain steady. PEANUT KERNELS About 40 tons of lava peanut kernels arrived on transhipment by the Marama yesterday. These have boon readily absorbed by wholesale houses and will provide somo relief to the shortage being experienced. It is not known what quantity the Narbada, which is expected to-day, will land. The market overseas is very strong and supplies are difficult to locate. TEA A good general demand for teas and a strong market at late rates are reported from Calcutta this week. There was no auction at Colombo, owing to the tea traders' holiday. Sales will bee resumed next week. Features of the auctions during July, according to a trade re- , port, received by mail, were the strong • American buying, particularly at the beginning of the month, and the continued demand for low-grown orange pekoes from Mediterranean. ports' buyers. Good teas advanced- steadily,, quality being keenly followed, and some good prices were paid at the last 'sale for standout teas, advances as much as Gd a lb. being shown. Quality showed steady improvement, and somo really nice teas from the Uva district were available toward the, end of the month, while forward musters early in August were still showing further improvement. POTATOES Heavy stocks of potatoes are held locally. The substantial shipments which arrived at the- beginning of the week- are being, worked off. but the maxket is still very liberally supplied. Prices are around £5 10s a ton through store. The position in , the South Island is weak. The next shipment by the "Wingatui is not expected to : reach the market until the middle of next week. , A good inquiry is being maintained for ' seed potatoes. Merchants are securing fresh supplies weekly and it is anticipated the demand; will be maintained throughout September. ONIONS The spot market for onions is very firm. Business is principally confined to Pukekohe lines. A quantity is still coming forward from the South Island and prices vary according- to quality. Best grade Pukekohe onions are worth from lis 6d to 12a, per cwt. "WHEAT The wheat market is. firm in the South and although there has not been a great deal of business passing, Southern quotations have been, advanced fractionally daily. Spdt prices are around 5s to 5s 3d a bushel through store, but indications point i to a further advance, owing to the increased landed cost of replenishments from the South. MAIZE The maize market is steady. Deliveries have been much more free and a good volume is now moving. Prices are firm at 4s a bushel through store. OATS AND CHAFF »' The market for oats remains strong. Feed bats are worth 3s ad a, bushel through store i and A Gartons 3s 9d. Chaff, which has shown a slight advance during the -week, is. firm at around £7 15s a ton through store. BARLEY A quantity of Australian barley, is held in merchants' stores, but the price is very firm. 4s to, 4s 3d a bushel being asked for clipped. bra;s; and p OLLARD The chief interest in the pollard market i centres in the strength of the Australian. iposition, which has rendered business with ' that quarter very difficult. Fair stocks of Australian are held locally and are, worth from £6 13a to £7 a ton through store. Local pollard is commanding, a good demand and is continuing to sell at JEG las a ton through store. Inquiry for bran. is. steady at £6 a ton through store. PRICES OF METALS TIN DECLINES AGAIN (Received September 6, 7.35 p.m.) LONDON. Sept. 5 Following are to-day's quotations on the London metal market, compared with those of September 4: —• Sept. 5 Sept. 4 Per ton Per ton. £sd £ s d Copper, stan. spot .. 27 18 9 28 0 7} Copper, stan., 3 mos. .. 28 6 3 28 8 9 "Copper, electrolytic .. 31 0 0 31 0 0 to to 31 10 0 31 10 0 Copper, elect., wire bars 31 10 0 31 10 0 Lead, soft, spot .. 10 10 0 10 10 0 Lead, soft, forward -. 10,15 0 10 16 3 Spelter, spot . . .. 13 3 9 13 6 3 Spelter, forward .. 13 10 0 13 11 3 Tin. stan,, spot .. 228 17 6 230 3 9 Tin. stau.. 3 mos. . . 227 16 3 228 18 9 'American#. 9 cents a lb. CROCKERY MANUFACTURE NEW INDUSTRY AT TIMARU [BY TELEGRAPH —PRESS ASSOCIATION 1 TIMARU, Thursday A company was formed in Tiinaru to-day with the object of establishing an industry here for the manufacture of all classes of crockery ware. The raw material is to be obtained from the Alford forest district, Ashburton County, where according to reports of experts material for the manufacture of the goods exists in large quantities. It is the intention of the directors to erect works at Timaru on account of the suitability of the town as a distributing centre by land and sea. Nearly all the capital of the company has boen subscribed in South Canteri bury. Lnxge quantities of coal suitable, for heating kilns to a high temperature, are available on the property, to which access roads have already been formed and bridges erected. IMPERIAL TOBACCO INTERIM DIVIDEND PAYMENT An interim dividend of 7J per cent {free of tax) was paid on September 1 by the Imperial Tobacco Company (of Great Britain and Ireland). This'compares with an interim of' 6£ per cent (tax free) a year ago. The final dividend was 13i per cent. The increase had little effect upon the London market. At tho annual meeting in February the chairman announced the board's intention to stabilise the interim dividend at 7£ per cent with a view to reducing the proportional difference between interim and final payments. "For this reason," the Times states, "the larger distribution cannot be regarded as implying an increased dividend for the year as a whole, although the buying of Imperial shares that has taken place since the cessation of the 'tobacco war' indicates j the confidence that is felt in the future of this great undertaking."