TRADE OF THE WEEK

New Zealand Herald, Volume LXXII, Issue 22261, 8 November 1935, Page 7

TRADE OF THE WEEK

RETAIL AND WHOLESALE STEADY TONE MAINTAINED INDENT BUSINESS QUIET Business in Auckland has maintained a steady tone during the past week. The approach of Christmas is beginning to have an effect on softgoods, but the grocery trade will not benefit to any marked extent until the new month's accounts open. Indent business remains quiet, with few alterations in overseas quotations. EASTERN MARKETS Aji easinff hns occurred in quotations for tapioca and for both Singapore and Penans sago. Slightly lower quotations also are advised for popper and nutmeg. PINEAPPLES The Singapore market for pineapples is fluctuating, with a slightly firmer tendency. Prices are now nt least 10 per cent above those ruling when the last shipment left in August. CANADIAN HERRINGS Owing to the lato season, new pack New Brunswick herrings are not expected until the end of this month, which is even later than was anticipated. In the meantime, the market is bare. DRIED FRUITS Advice from Australia states that orders in hand for one-crown sultanas cannot be confirmed and that it is useless to submit further bookings. Difficulty is being experienced in supplying two-crown sultanas ana only immediate orders can be entertained. At the annual meeting of the Federal council of the Australian Dried Fruit Association, held in Melbourne on October 23, it vvas reported that the cheap process which has been adopted to copo with the moth trouble in dried fruits had been completely successful. The export of dried fruit from Australia for some years has been under the absolute control of the board, and even local sales are made under its instructions. Dissatisfied with their inability to sell their fruit on the- Australian market, and being compelled to .-export it, several growers have banded together, and a test case is now under way to the Privy Council, London, with a view to having the control, operating under, a Commonwealth Act of Parliament, declared unconstitutional. If this action succeeds, then *the Bale and export of dried fruits from Australin may revert to the previous system, under which each growers' federation disposed of its goods as it thought fit. TEA The offering at this week's Colombo tea auction oomprised 1,810,0001b. Quality declined slightly, but there was a good demand for all grades except commonest stalky kinds, which declined id per lb. Good teas were id to id dearer, and medium sorts strong at late rates. Next week's catalogue will be 1,610,0001b. At Calcutta, commonest stalky kinds de-, clined id, while others were unaltered. A mail report for August, which has just been received, states that there was a good demand for all types. Low-grown Pekoes were the strongest feature, this being attributed to American buying, and prices for this grade were frequently above those for the corresponding Broken Orange Pekoes. High and medium-grown Brokens were well supported at satisfactory rates, while similar leaf teas had keen competition for shipment to Am'erica. Quality, although satisfactory, showed signs of falling away at the last auction, particularly in the case of Badulla teas. Generally speaking, it has been a most disappointing IJva season from every point of view, very few outstanding invoices with real flavour being seen, and the usual high prices were not realised. The month's supplies realised a reasonably satisfactory average of 67.65 cents, an advance of two cents compared with August, 1934. Rain fell in most planting districts early in September, and as a result quality of forward musters fell off, but supplies were expected to increase about the middle of last month. QUOTATIONS FOR WHEAT LONDON AND LIVERPOOL MARKETS IN AMERICA LONDON. Nov. 6 Wheat.—Cargoes are dull. Canadians are obtainable at 3d less, Australians and La Platas at 3d to 6d decline, but buyers continue a hand-to-mouth policy and there is little business. Parcels are mostly 4£d to 6d easier. Manitoba and other descriptions are obtainable at about late rates to 3d decline. Futures. —London: February, 25s a quarter; April, 24s 10} d. Liverpool: December, 6s ljd a cental; March, 5s 9gd; May 5s Bfd. CHICAGO. Nov. 6 Wheat. December, 97$ cents a bushel; May, 97| cents; July, 89J cents. The New York price for cash is 1 dollar 28J cents. TRADE WITH AMERICA IMPROVEMENT DESIRED MORE DOMINION EXPORTS Reference to the desirability of negotiating a reciprocal trade agreement between New Zealand and the United States was made in a letter from the Chamber of Commerce of the United States, received by the council of the Auckland Chamber of Commerce at a meeting yesterday. According to the letter there was a keen desire to have progress made in improving trade relations between the two countries. It was pointed out, however, that a heavy programme was abend of the United States in trade negotiations, and particular attention was being given tho export trade in agricultural products in an endeavour to remove many of tho restrictive measures against such products, particularly in European countries. Treaties had been concluded with Columbia, Cuba, Belgium, Haiti and Sweden. Canada and France were among countries with which negotiations wore still in progress. In particular, the treaties with these two countries brought in a wide range of products, many of which were competitive with American industry. In the case of Canada a number of the products would probably be in tho agricultural field, competitive with American production at a time when the Government was engaged in an effort to restore a greater degree of prosperity to the farmer. The United States imports from New Zealand over the first six months of this year had shown an increase of 103 per cent, while there had been an increase in the United States exports to Now Zealand of 25 per rent. These developments had brought tho value of the export and import trade .between tho countries to a more even oasis. AUSTRALIAN PRODUCE (Recoived November 7, 9.45 p.m.) SYDNEY, Nov. 7 Following are to-day's quotations on the Sydney produce market:—Wheat: At country sidings, 2s lid for bagged and 2s lOd for bulk lots, equal to about !3s 6d and 3s 6Jd ox trucks Sydney. Flour, £ll 7s 6d. Bran and pollard, £5 10s. Potatoes, Tastnanian, £10; local, new, £7; others, £9 10s. Maize, yellow and white; ss. Adelaide prices are: —Wheat, growers' lots, 3s 4d. Flour, bakers' lots, £ll 17s fid. Bran, £5 7s (id. Pollard, £5 12s Gd. Oats, Algerian, Is lOd. Barley, 2s 2d. PROPERTY AUCTIONS Neville Ncwcomb, Ltd., will offer by auction at its rooms, 4 Wyndham Street, at noon to-dny, farm property of 391 acres near Port Albert, and house of three rooms. Wainui Avenue, Point Chevalier. T. Mandeno Jackson will offer at auction, at his rooms, 3 Swanson Street, at 11 o'clock to-day, section at coiner of Kohiniarama and Rawhitiroa Roads, and 4J acres with frontugo to liawhitiroa Road. . Samuel Vaile and Sons, Limited, will offer at auction at its rooms, 83 Queen Street, at 2 p.m. to-day, five-roomed house in Paice Avenue. Mount Eden; shop, with living accommodation, at corner of Upper Queen Street and Enßt. Street; six-roomed house in Morrison Avenue, Narrow Neck.