COMMERCIAL.

Southland Times, Issue 18856, 23 June 1920, Page 2

COMMERCIAL.

THE DOMINION’S TRADE. EXPORTS FOR THE WEEK. Following are the values of the principal New Zealand exports for the week ended June 15, as published in the Gazette' of June 17:—

HOME WOOL SALES. APPRECIATION OF NEW ZEALAND PRODUCE. LONDON, May 6. All the better classes of both merino and crossbred wool met a brisk clearance at the latest auctions held in April, when catalogues aggregating 9500 bales, and including 3634 bales from New Zealand, were offered. Greasy merino clips from Sydney were well represented, also greasy crossbreds, and all good conditioned parcels came in for a strong demand, chiefly from Yorkshire and other Home sections, at prices ranging up to 88d and 584 d per lb respectively. The South Australian offerings, which were all greasy merino combings, sold up to 7od, a fair proportion of the.se being secured for America. Victorian greasy crossbreds, together with the liberal supply of similar qualities received from New Zealand, were, as usual, largely bought for the Bradford district, the best parcels from both named sources, realising 46d per lb. Greasy crossbred “free” wools, amounting to 1213 bales, Punta Arenas and 719 Peruvian, were also offered, but owing to the high limits enforced by shippers were practically all withdrawn; a few lots of the Puntas sold within the range of 30d to 36d per lb. Relative to this series, a wool correspondent says the course of the auctions, proved conclusively the sound standing of the raw material. The call for fine wool is still exceedingly good. “Evidently,” says the writer, “the consuming end of the trade is so strongly entrenched that users everywhere have great faith that what they are buying will be wanted; in fact, all the wool that is to-day passing through the catalogues is already sold in the top, yarn, or piece. That no doubt is the reason why the first week of the series has passed off so well. The character of the wools catalogued is sufficiently good to call forth the combined attention of both Home, Continental, and American buyers. Not many of the last-mentioned have been present, and buying brokers have apparently fewer orders than during some previous series, but some buying is being done on American account, and the wools purchased consist entirely of good merinos. The prices paid for these wools, both greasy and scoured, reveal a strong and healthy market. Nobody feels disposed to force prices for greasy wools to the top side of IOOd, but 89Id was paid on Thursday, and good scoureds have touched the handsome price of 1114 d, while New Zealand merinos have sold at 120fd. New Zealand produce to bring forth such a big price,” continues the same authority, "but their splendid colour, soundness of staple, and freedom from vegetable matter are all in their favour. Moreover, New Zealand merinos arc comparatively scarce, ■ and the prices realised are consequently always good. It is not thought that faulty carbonising merinos arc fetching prices equal to (hose of the previous series, but all good combing wools are fully as dear, while French classes of merinos still show most decline. The marvel is that medium merinos have not fallen more to compensate for the sensible rise in the French rate of exchange since the close of the March series. That users from Northern France are in urgent want of big weights of raw material goes without saying, but financial considerations are to-day so important that a high rate of exchange can do no other than restrict operations. Crossbreds are doing better than generally expected, even medium and coarse qualities. They have displayed a slightly hardening tendency, and Bradford buyers have not picked up such reasonable wools as they did on the first two nights of the series. Fine crossbreds continue to sell at big figures and are no cheaper, while 'coureds and slipos are faring similarly to grease wools. Good New Zealand .-lipcd kidfhred lambs were called fully as dear as in March.”—Christchurch Press correspondent. rnICES OF -GOODS. THE REI AII.EHP' POINT OF VIEW. . The Wellington Redid Drapers’ Association has forwarded the following statement to the Po.-.i ; “ From the point of view of the retailer who is also an importer. any rise or fa!! in the cost of goods in England is not immediately felt, in New Zealand. A period of at least nine months usually elapses before goody arc ticketed in local shop windows up to the increased cost. In the years of the war, when the whole commercial world was going up on a rising market, the press of New Zealand was able from time to time to render a service to the community by pointing out imminent increases in the price of commodities. The effect of these warnings in the columns of the papers was felt and recognised by distributors, for those who were wise supplied their needs before the advance affected retail prices. Textiles, which embrace furnishings ami general domestic fabrics, are being r-old so cheaply to-day in this country’ that a prominent Scotch woollen manufacturer recently stated that it would pay him to buy the goods he saw in the shops hero and take them bark to sell in England. In respect of goods manufactured from wool, (he competition that existed between the local production and the imported article is nullified through New Zealand goods being practically unobtainable in any quantity likely- to affect the selling price. Regarding goods made of cotton, a large manufacturer reports by the last nfail that high prices here have only now started, and present prices may be 100 per cent, higher before thus time next year. Shipments of goods just landed touch the highest price yet reached. Behind those are shipments cn the water at still higher prices, and on the wharves in England lie goods just as high, if not higher. The importer will not know until he receives his invoices bearing the price ruling on the date of delivery to the shipper. No reduct ' - in price has yet taken place at the seat of manufacture, and until it does and time has elapsed for goods to be made and shipped and received, its effect cannot be felt by the individual purchaser here. The position of the retailer in New Zealand is not analogous to the big American retail stores. Their panic prices are due to panic methods. No retailer in this country has boarded up huge reserves of necessary goods, and finds himself forced to disgorge at a word from his banker. Prices here are not artificially high through any action on the part of the importer. So far as drapery goods are concerned, importers cannot see as yet any general decline in price. It is rumoured that local woollen goods will shortly be further advanced.” CANTERBURY MARKETS. (Per United Press Association.) CHRISTCHURCH, June 22, In the grain’ and produce markets business continues almost at a standstill. Potatoes are if anything weaker, and Auckland

merchants are reported to be endeavouring to get some of their- contracts cancelled. It'is understood that farmers generally are hanging on to their stocks in the hope that the Australian embargo will soon be lifted. A quantity of chaff is to be sent away by the Waitomo, but this will not relieve the present position .to any extent. NATIONAL MORTGAGE & AGENCY COMPANY. AN INTERIM DIVIDEND. ’ (By Telegraph.—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) LONDON, June 21. (Received June 22, 10.20 p.m.) The National Mortgage and Agency Co. of New Zealand pays an interim dividend of 71 per cent, free of income tax. BRADFORD WOOL MARKET. LONDON, June 21. (Received June 22, 10.20 p.m.) The Bradford wool market shows a cheerful tone, but there is not sufficient business passing to test values. The trade is awaiting the result of the Liverpool auctions.

£ Butter . .* .. 2,707 Cheese .. 88,127 Frozen meat .. ,. .. .. 86,441 Gold ,. Grain and pulse .. .. Hides and skins.. .. .. 155,412 Kauri gum Phormium (inc. tow) .. 19,923 » Tallow .. 47,928 Timber .. 10,454 Wool Total