TRADE OF THE WEEK

New Zealand Herald, Volume LXXI, Issue 21905, 14 September 1934, Page 7

TRADE OF THE WEEK

RETAIL AND WHOLESALE GENERAL CONDITIONS STEADY POTATO MARKET STRONGER There have been no important changes m trade conditions in the city during the week. Distributing business in general foodstuffs remains active and good clearances continue, augmented by increased movement in new season's goods. Several minor alterations have occurred in overseas markets, most of which show an upward trend. In addition, landed costs, owing to exchange fluctuations, are less favourable, particularly in Canadian, United States and certain Eastern commodities.

The prospect of lighter shipments of Southern potatoes and a good clearance of the heavy stocks recently on hand are reflected in a rather firmer tone in the spot market. Conditions in other produce and grain markets show little alteration. CI^OVES Overseas reports indicate the likelihood of u dearer market for cloves owing to a definite shortage in the crop, coupled with the fact that the Zanzibar Government intends to control the export. DESICCATED COCONUT Further advance# in the market for desiccated coconut for both promjjt and forward shipment are reported. This market recently has been, recovering steadily from the record low levels it attained a short time ago. EASTERN MARKETS No change in sago and tapioca Quotations is reported from Singapore this ■week. A trade opinion expresses the view that, owing to the shortage of Burma rice, India may come into the market for substantial quantities of tapiocas in the near future. PEPPER The strong upward movement in the market for pepper, which _ has recently developed, is being maintained, and this week's quotations register _ a further advance of id per lb. It is reported that the market is faced with a possible shortape before the new crop is ready for shipment. SAFETY MATCHES A reduction of 5d a gross in the wholesale price of New Zealand-made safety matches as from next Monday is announced. CORNFLOUR Overseas quotations for bulk cornflour from Scotland and Canada have been advanced by £1 a ton. This movement is the outcome of the effect of the United States diought upon the price of the raw material. The small extent to which prices have hardened has occasioned some surprise to the trade, which expected a larger advance. DATES Prices for new season's dates for spread shipment from Buera via India from November to March have just been cabled from London. In comparison with the lowest rates on offer fcir prime quality for the October steamer from Busra, the spread shipment prices are 2s per cwt. higher for all grades of Sair quality, and la 3d per cwt. for Khadrawi quality.

The quantity of tea offered >t this week's j Colombo auction, which was the first since j August 28 owing to the tea traders' holiday, was 3,000,0001b. There was ft weaker j market owing to the large auction. All j grades declined Id to id per lb. Neit week's j auction will comprise approximately j 2.300,0001b. Exchange was quoted at Is 6 7-32 d. „ , At Calcutta there was less demand, and the market declined id per lb. POTATOES There is a slightly firmer tone in the spot market for potatoes, owing to the fact that the bulk of the recent heavy shipments has been worked off and the quantities to land from the Wingalui and from next week's steamer are not heavy. The value through store ranges from £5 to £5 5b a ton. A steady de*iand for seed potatoes continues. and good supplies of South Island seed are available at late rates. ONIONS Ample supplies of local onions are offering to meet the demand. They are worth about lis 6d per cwt. through store. The first of the new season's Canadian onions are due on October 1, and further shipments are expected np to the end of November. Business has been done to arrive at around 13s 6d a bag of 1001b. WHEAT The fowlwheat market remains firm st op to 5s 3d a bushel through store. MAIZE A firmer tone has developed in the market for maize. The demand is particularly heavy at present. Price# are -around 4s 2d a bushel through etore. OATS AND CHAFF The oat market is steady at the advanced rates. Feed oats are worth around 3s 5d a bushel through store. Chaff is quiet, the demand having slackened slightly. Prices are steady at £7 10b to £7 15s a ton through store. BRAN AND POLLARD Firm conditions continue to rule in the Australian pollard market. Through store, Auckland, the Australian meal is worth around £7 a ton. New Zealand pollard through store is selling at £6 15s and bran at £6, both being unaltered. SYDNEY- WOOL SALES MARKET CLOSES FIRM WEEK'S AVERAGE PRICES (Received September 13. 7.35 p.m.) SYDNEY. Sept. 13 At the Sydney wool sales to-day 8387 bales were offered, and 6576 were sold. Also 1013 baies were disposed of privately. There was good general competition and the market closed firm at the previous day's level of prices. The position regarding shabby fleece and burry fleece lines has not improved. These are still selling somewhat irregularly. Greasy Merino sold to lojd for eight bales from Scone. The average price of wool sold in Sydney on the first three days of this week was £l2 lis 4d a bale, or 9.4 d a lb. PRICES OF METALS TIN AND COPPER FIRMER (Received September 13, 7.35 p.m.) LONDON. Sept. 12 Following are to-day's quotations on the London metal market, compared with those of September 11: —

WHOLESALE PRICES AUGUST IN BRITAIN (Received September 13, 6.15 p.m.) British Wireless RUGBY, Sept. 12 The average of wholesale prices in Britain in August showed a rise «f 2.1 per cent, compared with July, and 3.1 per cent over August last year. The respective index numbers were 88.5, 86.7 nnd 85.8. Food prices increased by 6£ per cent from the previous month, and the index for the cereal group was the highest recorded since August, 1930. Industrial materials, however, continued to show the downward trend which began in March.

Sept. 12 Sept. 11 Per ton Per ton £ s d £ s d Copper, stan., Bpot . . 27 9 4i '27 6 101 Copper, stan., 3 mos. 27 15 7i 27 13 11 'Copper, electrolytic 30 10 0 30 10 0 to to 81 0 0 30 15 0 Copper, elect.. 30 15 •wire barB .. . . 31 0 0 0 Lead, soft, spot . 10 1 3 10 0 0 Lead, soft, forward . . 10 8 9 10 7 6 Spelter, spot . 12 7 6 12 11 3 Spelter, forward Tin. Btan., spot . 12 11 3 12 15 0 . 229 0 0 228 2 6 Tin, stan., 3 mos. . . 227 8 9 226 8 9 'American 9 cent* & lb.