WANGANUI MARKET REPORT

Wanganui Chronicle, Volume LXXXII, Issue 19437, 24 October 1925, Page 9

WANGANUI MARKET REPORT

WHOLESALE AND BETAIL REVIEW OF THE WEEK As the result of improved weather conditions retail business has brightened up considerably, but not sufficiently to move the general feeling of slackness thiat has prevailed during tho past few weeks. The drapers received the chief benefit from the warmer turn, as it encouraged more attention to tho spring fabrics which have been largely neglected during the previous unseasonable weather. The gradual resumption of oversea sailings has for the moment materially relieved the export situation which hias been causing considerable anxiety to producers and exporters of primary products. GROCERIES Mustard Owing to a slight alteration in English costs, the next arrival of the larger" size packings, which are due early in November, will be delivered to the trade at a small reduction on present selling rates. Quarters, halves, and ones will remain unaltered, tho reduction applying to 71b. tins of Durham and double superfine only. American Figs The recent shipment of layer figs, which arrived a few weeks ago at Auckland, opened up in such excellent condition that buyers are already inquiring for further supplies. Confirmation was received on all sizes at the same prices as previously, with the exception of 101 b layers, which are now quoted at an advance of 9d per box. • Corn Flour The New Zealand agents of one of tho best known manufacturers of English corn flour received a cable last week advising a reduction of £2 per ton on bulk grades and £4 per ton on the cheap packed lines for November shipment. Sugar Taking into consideration that retail prices of sugar were not reduced when the previous fall took place in July last, owing to tho smlallness of Ihe reduction, the total drop, which now amounts to £l, allows for some slight adjustment in selling retail prices. Crystal now sells at a reduction of 9d per bag; 6d per 351 b lot for cash on previous list prices, with the smaller quantities remaining unchanged. Soft is reduced 9d per bag, 3d for 351 b, and Id for 121 b; brown Is per r bag, 3d for 351 b, 2d for 121 b, and Id for 61b; loaf, Is 9d per case of 561 b, 9d for 281 b, 6d for 121 b, 3d for 61b, and 2d for the 41b rate. Castor, icing, anci syrup and treacle remain unchanged. Almonds About a fortnight ago indent rites for ground almonds advanced 5s per cwt. Shippers have now cabled advancing prices a further 10s per cwt. and also state that the market is ruling very firm at present rates. Ceylon Tea At the weekly sale, held on the 13th instknt, one and a-half million pounds was offered under the hammer. Quality was reported to be generally good, with tho market strong but irregular, the H-wer grades tending to weaken shakily on previous sales. Commons were listed at a reduction of from 4d to 3d per lb, broken Orange Pek?es down id, mediums down |d; and Meweiti Eliyas remaining firm at the pre- , vious week’s quotations. Exchange showed a slight alteration, and is now quoted at Is 6 7-16 d. General Drapery The fine spring-like weather that has prevailed during the past week has given a decided impetus to the drapery trade, and as a result a big demand has set in for spring creations which have been neglected during the previous unsettled weather. The wholesale houses also report increased business, and prospects appear much brighter than they were a few weeks back. Cotton It is expected that the American crop will again be a very large one, probably in excess of 14,000,000 bales, which will bo about equal to that of last year. This will more than meet Che present demand, and may bring about more free buying through the lower prices, and later a decline, in the price of finished goods. Conditions in the Lancashire market have continued quieter lately, and the turnover all round has been on a comparatively small scale. Buyers have been affected by the easier movement in raw cotton prices, and tightness of money h*as also been responsible for a large restriction of trade. There is as yet no reason to doubt the world’s ability to absorb cotton at the same rate as last season, when the American crop yielded 14,400,000 bales. In some quarters it is claimed thiat lower prices for American cotton than those now ruling would probably prove of short duration, owing to the improved financial position of the cotton growers, who are now able to market the staple in an orderly way. At present, however, there is the prospect of a supply more than adequate to meet a demland equal to that of last year, which should certainly tend to greater stability in values. There has been some irregularity in American yarn quotations. .There are indications, however, that spinners are gradually improving their position, and the extended holidays at Oldham are expected to bring relief. There ha« been no general flow of orders in

American yarns. Further operations have taken place for India in five counts, and more contracts have bchn arranged for the Continent and the Near East. After being slow and unsatisfactory for some time, demand in Egyptian spinnings has tended to broaden, and in certain quarters an increased turnover has taken place. The average dividend paid 37 cotton-spin-ning companies for the three months ending in July was 7.38 per cent, per annum, as compared with 7.12 for the previous quarter. Hardware Business in the hardware line has made a distinct improvement during the last few days, the fine weather bringing an immediate increase in requirements from the country districts. Although it is expected that there will be some delay in English shipping of goods owing to the late hold-up in New Zealand waters, the opinio has been passed that hardware merchants do not expect any serious shortage of goo((s as the majority of houses are at present carrying ample stocks of all lines. Mart Report. Messrs Williams and Harper report on their mart sale held yesterday as follows: Light fowls sold from 6s to 7s 6d pair, heavy up to 10s 6d; ducks, 7s 6d to 9s 6d. Pigs: 16s 6d to 19s. Vegetables and Produce.—New potatoes 3d lb., cabbages 3s dozen, asparagus 12s dozen, South Island potatoes 21s per sack. Fruit. —Apples, half case, 3s 6d to 4s 6d, lemons 5s per half case. Local Prices Prices are quoted locally lor the unlermentioned lines as follows: — Feed barley, 6s 6d per bushel. Algerian oats (machine dressed) 6s per bushel. Garton oats, 5s 9d per bushel. Fowl wheat, 9s 6d to 10s per bushel. Tares, 12s per bushel. Feed Maize, 8s 6d per bushel. Cocksfoot (Danish) Is Id. Standard Akaroa, Is 2d. Perennial ryegrass, 8s per bushel. Italian ryegrass, 7s 6d per bushel. Western wolths, 7s 6d. Alsyke, Is 3d per lb. , Danthonia pilosa, 2s 3d per lb. Red clover (imported), Is 4d. White clover, 2s 6d. Trefoil, 103“ per lb. Timothy, Is per lb. Crested dogstail, Is 6d per lb. Poa Pratensis, 2s 3d per lb. Chaff, Blenheim, £lO per ton. ■- i PRODUCE. w Potatoes. « Since last report further considerable advances have taken place, and business has actually been done with Australia on the basis of £ll f.o.b. s.u, South Island ports. At the time of writing potatoes are worth, in Sydney, about £l9 per ton, and this has resulted in shipments originally intended for local use being re-shipped from Auokland to Sydney. Stocks held locally are very light and as the Sydney mar-, ket has weakened considerably there appears to be a downward trend on the South Island prices.