GROCERY TRADE

Press, Volume LXXI, Issue 21418, 9 March 1935, Page 13

GROCERY TRADE

PROSPECTS AND PRICES With no outstanding features to report, the grocery trade has had a steady week's trading, being a trifle quieter than last week. The continued spell of dry weather has assisted to prolong the sale ior summer season commodities. Up to the present the only movement away lrom summer lines is toward Lenten goods, for which fair orders are in hand for later delivery. Cash collections are quite satisfactory, and it is reported that merchants are now not experiencing the same anxiety as regards credit accounts generally, as they were this time last year. It is stated that some of the very weak retailers went out of business last year, and other similar weak ones that have so far weathered the severe adverse financial conditions, will probably recover. This has had (he effect of improving credit issues, and is placing business 011 .i better footing lVpiHr As predicted in this column just after, the announcement of the collapse of the London pepper market, white pepper prices have begun to fall rapidly. Already business is being solicited by cable at reduced rates equal to a decline of nearly 4Ad per lb, and further weakness in the position is expected shortly. Raisins and Sultanas Californian seedless raisins in packets and bulk have dropped slightly in San Francisco, according to a cabled repori. The movement j;; small, but it seems to forecast a cheaper market in (he United States for this class of fruit. Up to yesterday there was no advice of new season's prices lor Australian sultanas or currants. As far as can be ascertained, the Commonwealth Dried Fruit Export Control Board (the body that controls the distribution in Auslralia of sultanas and currants) lias not yet advised tiie Australian merchants as lo the price that will be charged for local consumption there. Ciingcr Owing lo higher landing costs the ginger market, both preserved and unbleached. looks like hardening. There is at present a very good demand for both these lines. This will continue for another two months, especially lor preserved ginger. N ills New reason's prices fur Uanrclonn nuls are out early, and although il is very early to think of purchasing mils which will not be riady till Augusl, the present opportunity Junks worth consideration of interested buyers. .Reports to hand this week state that food units arc hight-r in price, and next arrival 'due here about June) will show a fair increase in the cost of both shelled end iiiHielled mils. Tea Last week'.-* h'a and ion of Cevion teas in Colombo disclosed a vi-ry active and spirited demand. ('innmon leas, were well competed for. and some lines advanced as much as cents Fine teas si ill continue to hold to a high market, and lh'\v are now- slanding at bight r rates than for some time past. Average prices ruling al IV : sale ran as follows: - Broken orange pekoe, common a.'i to lio cents, medium I rupee to 1 rupee 2~> con is, line 1 rupee e!l cents, and some lie.es went as high as 1! rupees; broken pekoe, common f>o to 51 cents, medium 9f> eenls to 1 rupee, line 1 rupee It) c.'nts lo I rupee l! 0 cents. Hroken Uas: The only line quoted in the cablegram 'as common at 4!) cents. The .lava markel for common teas last week was very /inn. and inclined to harden in price, otherwise there nothing elf to report, prices generally beinon a level w.th previous rales. Prunes Agents in New Zealand for al lea. I one San Froneiseo hoir-e ;j• quoting slightly loner price:: than liitee tiding recently for Californian primes. This discloses a weak market, but i! may be only temporary. N.Z. DRUG COMPANY DIVIDEND DECLARED irr.ESS ASSOCIATION TELEGRAM.) DUNEDIN, March G. At a meeting of directors of Kempthorne. Pressor's New Zealand Drug Company. Ltd.. Ihis afternoon, a dividend of 4> per cent, was recommended, making 8 per con!, for tin: year. IThe dividend shows a slight increase on that of last year, when 7 per cent, was paid —3', per cent, in September and 4 per cent, in March. The net profit, last, year was ,S;4ii,7B'.). and at the annual balance the reserveswere Al 144.*if> 1. The paid-up capital of ilio company is £ii};.'i,ooo.l WHITE STAR LINK LONDON. March 7. The meeting of the While Star Line has been adjourned for a fortnight following repeated demands from the shareholders for compulsory rather than voluntary liquidation. WHEAT MARKET PARCELS AND IT'TLRES LONDON, March V. Wheat Cargoes—Dull, owing lo fading out of demand and lower foreign advices. Parcels—Quiet, little changed. Future arc quoted:- - London t a quarter; March.,"). March 7. st. d. s. d. April .. 20 It 20 2 June . . 21 0 21 0 Liverpool (a cental) March . . 4 8 : ', 4 B.', May .. 4 1!; 4 11s July ■ • . r ) 2 5 Spot Trade--Quiet. Australian, ex ship, nominal. Flour—Quiet. Australian, ex store, 19s Gd to 20s. OATS, I'EAS, AND BEAN'S LONDON, March 7. Oais—Slow. Australian and Algerian, 19s to 20s; A Gartons, 21s to 225. Peas-—Blue, neglected; Tasmanian, 200s. Maples: Firm. Tasmanian, 50s; New Zealand, 50s lo 535. New Zealand Beans—33s to Sugar Beet—April, 4s 6jd. PROPERTY SALE Messrs Hutchinson, White, Ltd., report having sold on account of Mrs D. B. F. Barlass a section in Halton street, Papanui, together with a contract for building a bungalow residence thereon; also having sold in conjunction with Messrs W. J. Spratt and Company a substantial seven-roomed residence in Papanui road, on account of Miss Partridge, to a client at a satisfactory figure. Also they have leased several shops and offices in Ihe city. —8