WANGANUI MARKET REPORT.

Wanganui Chronicle, Volume LXXXIII, Issue 19549, 17 April 1926, Page 9

WANGANUI MARKET REPORT.

WHOLESALE AND RETAIL. THE WEEK IN REVIEW. Detail trade maintained a steady tone during the week, there being just a fairly good .all-round demand. The wholesale has quietened considerably, but the majority of houses report a continuation of good country trade due to a desire to get in a fair quantity of ordinary requirements before the weather breaks up. GROCERIES. Tea Prices A mail report from Colombo states that at.the first two sales of the year a keen demand was in evidence for all {grades of tea, but the strong position of the tea situation disclosed by the publication of the London stock figures at the end of December resulted in i even greater inquiry, and prices advanced in sympathy. The selection generally was attractive, but marred to a certain extent, toward the close of the month, by the inclusion of a large proportion of broken mixed and broken teas, representing the end of the season’s supplies. Signs of improving quality appeared in the offerings at the latter auctions, which were evidently appreciated by buyers, as the major portion of the demand was for quality teas. Peppers. Indent quotations for peppers have shown a weaker tendency during the last few weeks and the latest prices when available last week showed a decline of one halfpenny per pound for Singapore black and white, Sarawak white and Muntok white. Importers have not betrayed much interest in these lower rates, however, as quotations are still considered to be too high , for buyers to risk bringing down any heavy stocks, and to the possibility of a heavier decline in values if the new crop comes up to expectations. Eice. Recent cables' from India point to an increase in first cost of undressed or partly dressed rice, and market reports are to the effect that a heavy Indian demand may be expected to keep the market firm at the advanced rate. Most of the rice used is imported via Australia. from Australian millers who import huge quantities of unmilled rice from Burma, and after milling in Australia are able to resell to New Zealand merchants at prices which compete with the actual producing centres. Because of the quantities of rice handled in this way, alterations in values after the opening prices are named seldom effect quotations for Australian milled roce. It is therefore difficult to forecast the future alterations of prices in this line. GENERAL DRAPERY. Trade this week has been pretty dull and there seems no appearance of winter buying being greatly indulged in while the present hot weather lasts. We have been enjoying such wonderfully mild weather during those two months that 'cold weather goods’ make no appeal. Although this weather must not be taken for granted it should stimulate the trade in general to give serious heed to putting the season back a month or so and local drapers -would find it advantageous to support this movement solidly. It is rumoured that a fine bio k of new shops is shortly to be erected at the top of Guyton Street so that the business area of Wanganui is gradually widening. Visitors to Wanganui this week were astounded at the growth of the trade here and consider the local shops in interior layout anyway —had nothing to learn from other places in New Zealand and that the City was fortunate in having such a good shopping centre. The Cotton Trade. Recent exchanges emphasize the fact that more optimism prevails in Lancashire circles than for some time past and with the cheapening of made up goods—made possible by the reduced price of raw cotton —business is picking up again. Prices are still much above 1913-14 figures but are down quite 80 per cent on those operating in 1924: America is still discussing the planting of less cotton but apparently there is enough raw material on hand to preclude this having any effect on present day prices. Stocks at Home are not as largely held as usual and quick deliveries at 'easy’ prices are not common and with a fair quantity of forward orders on hand manufacturers are getting a little firmer with their quotes. Presumably present day rates will continue for some time. The Woollen Market Matters in this market are going along quietly and prices have practically stabilised at late market rates so that reductions will not be very much in evidence. In fact Home prices today should permit local mills to make good progress and in the better class woollen lines New Zealand should score handsomely.

With the silk mixtures available both Home and New Zealand mills are producing some wonderfully good effects and these ‘mixtures’ are doing the trade more good than harm. There is also a decided ‘coming back’ as far as woollen underwear is concerned and it looks as if the New Zealand people are taking no risks with our variable climate and are guarding against physical ills by having woollen goods next to the skin. Both town and country shops arc making glorious displays of all knitted wear—under and outer garments —and should winter weather prevail trade should improve and on the prices showing nobody should go cold.