TRADE OF THE WEEK

New Zealand Herald, Volume LXXIV, Issue 22627, 15 January 1937, Page 5

TRADE OF THE WEEK

RETAIL AND WHOLESALE BUSINESS NOW QUIETER FEBRUARY DELIVERY DATES Wholesale merchants in Auckland report that business during the past week has been quieter. Most of the staffs are on holiday and stocks depleted by the Christmas rush have now been replenished. The continued wet weather has had a depressing effect in several lines, including drapery. Deliveries on February account will be made to the country on Thursday next and to the town and suburbs on the following Monday. Orders have been fairly heavy. Indent business is brisker, having now returned to normal. Included in the price advances are tea, pineapples, olive oil, desiccated coconut and glycerine. TINNED PEAS Quotations for Ihn new season's local park of tinned peas have been announced at. a higher level than last year. The increase ia due to the advance in the cost of tinplate. PRESERVING JARS The demand for preserving jars has recently been exceptionally good as a great deal of bottling is now being carried out. Glassworks report that slocks of the lib. size have heen completely sold out. DESICCATED COCONUT The market for desiccated coconut is firm and advancing, latest quotations being 15s (id per cwt., the highest price for a considerable number of years. Ihe firmness of the copra market has been the chief cause of the udvance. GLYCERINE Further substantial advances have taken place in values of glycerine and the increase represents a rise of over £25 a ton over the past month. This is due to the extensive use of glycerine in munitions. Merchants wil! now only quote for prompt shipment. OLIVE OIL Prices for olive oil continue to advance owing to the shortage of supplies of the new season's crop of olives. Merchants are of the opinion that the firm values are likley to hold as all pressings of the new season's oil should be available and sellers should not be able to estimate their supplies. PINEAPPLES Cabled advire from Singapore shows an advance in canned pineapples, with reports that the position is strong and further increases are. anticipated. Heavy stocks, which were landed from the Narbada to a bare market, are now going into consumption fairly rapidly, with the result that buyers are now interested in the next direct steamer due to leave in April. ALMONDS Only isolated parcels of Italian and Spanish almonds are available and quotations of vari» ous shippers show considerable variation. Regular supplies are not yet available and it is difficult, to forecast the future position. Buyers in the meantime are holding off as long as possible before covering their requirements and although the local market is bare, little interest is being shown. TEA The quantity catalogued for this week's Colombo tea auction amounted to 2,000,0001b. Quality generally showed an improvement, especially for* up-country teas. There was a strong general demand, all grades advancing in price. Common and medium sorts were keenly competed for at an advance of from VA to y 2 d per lb. Good teas where, quality showed an improvement advanced by Id per lb. Next week's auction will comprise 2,750,0001b. At the Calcutta auction prices advanced by VA to !/ 3 d per lb.

BRITISH TRANSPORT ELECTRIFICATION SCHEMES CAPITAL LOAN ISSUE (Received January 14, 6.5 p.m.) British "Wireless RUGBY, Jan. 13 The prospectus was published to-day of the second and last issue of loan capital of the Treasury Company, with a nominal capital and an unpaid directorate, which was formed in July,, 1935, to provide cheap finance for tho electrification projects of the London Passenger Transport Board, the Great Western Railway and the London and North-Eastern Railway. The present issue comprises £9,650.000 of 2J per cent guaranteed debenture stock 1950-55. Together with £32.000,000 of similar stock issued in 1935 this exhausts tho borrowing powers of the corporation, which amount to £40,000,000. MENACE OF RAGWORT SPREAD IN COROMANDEL REQUEST FOR PARASITES [by telegraph—OWN correspondent] COROMANDEL, Thursday The spread of ragwort in Coromandel , County was viewed seriously at a meeting of the County Council this week, when it was stated that the weed was coming from the Thames County, where areas on the boundary were heavily infested. The weed was spreading in the Whangapoua and Whenuakite ridings. It was decided to ask the department to liberate some of the recentlyimported parasites. STEEL PRODUCTION BRITAIN'S RECORD YEAR (Received January 14, 6.5 p.m.) British Wireless RUGBY, Jan. 13 More steel was produced in the United Kingdom last year than ever before. The output of steel ingots and castings totalled 11,605, 200 tons, against 9,858,700 tons in 1935, which was also record production, exceeding the previous highest tonnage (9,716,544 in 1917). The production of pig iron last year was 7,685.700 tons, against 6,424,100 tons in 1935. AMERICA'S GOLD IMPORTS AND EXPORTS (Received January 14, 5.35 p.m.) WASHINGTON, Jan. 13 The Department of Commerce announces that the value of gold imports in 1936 into the United States totalled 1,144,000,000 dollars, compared with 1,740,000,000 in tho previous year. The value of gold exports was 27,534,000 dollars, compared with 1,969,000 in the previous year. QUEENSLAND WHEAT CROP HIGH PRICE FOR GROWERS [from our own correspondent] BRISBANE, Jan. 6 The present Queensland wheat crop, apart from that required for seed and poultry feed purposes, has been sold to Queensland millers at a price based on 3d a bushel above the levels at Darling Harbour, Sydney. On the day on which the millers began to tako delivery the price stood at 5s 5Jd a bushel on rail at growers' sidings, but tho rate will fluctuate from day to day, necording to the rise and fall in tho market during tho period of delivery. Tho price is the best received by growers for a number of years. Tho crop totals slightly in excess of 2,000,000 bushels, compared with about 2.500,000 bushels in the previous year. About 85 per cent was first-class milling wheat, and 15 per cent was secondclass.