COMMERCIAL NEWS

Ashburton Guardian, Volume XLV, Issue 10279, 10 December 1924, Page 2

COMMERCIAL NEWS

TINWALD STOCK SALE.

PRINCIPAL SALES YESTERDAY. As was anticipated, owing to the high prices at which lambs have been selling, there was a large and deeply interested attendance at the Tinwald yards yesterday, when there was an entrv of 241 fat ewes, 87 fat wethers, 1538 fat lambs, 406 stores, and 95 head of cattle. There were many pens of prime fat sheep, and the market was .very firm, with an upward tendency as compared with the sate at the Ashburton yards last week. Ewe mutton made an average of 6|d per lb, and wether mutton B£d. Prime ewes (shorn) made 31s Id to 34s 4d, second quality 24s to 29s 9d. Ewes in the wool made 34s to 51s 9d. Shorn wethers realised 39s to 45s 6d. Amongst the 1588 lambs sent forward, a lot were very prime, while on the other hand I there were'many light and unfinished lots. The pens of the latter, totalling 682 head, were passed at auction, but for prime the bidding was very keen, and the lot were quickly bought up at

an all-round average of 12£d per lb, against 13d realised at the Ashburton yards last week. The top price was 48s 9d, for a pen of 15, sold on account of Mr J. W. Crawford, of Lagmhor, this being a record price for the Ashburton district for any pen of lambs sold at public auction. Prime lots made 40s 7d to 48s 9d, and second quality 36s 3d to 38s 4d. The principal sales were:— Fat Ewes—For D. McKendry (Waterton), 7 at 30s- 9d; P. Merrm (Tinwald), 2 at 33s Id; W. J. Taylor (Ashton), 11 at 30s 6d, 12 at 29s 9d; Croy Bros. (Ashton), 7 at 27s 9d; clients, 4 at 51s 9d, 13 at 26s .sd, 7 at 37s Id, 11 at 39s Id, 3 (woolly) at I 345, 2 at 30s, 8 at 32s Id; P. Shearer ! (Wheatstone), 5 at 32s 9d; V. W. { Wright (Lagmhor), 10 at 33s 8d; j White Bros. (Eiffelton), 12 at 32s 7d, .■l7 at 34s 4d; S. Taylor (Eiffelton). 8

jat 33s sd, 7 at 295; Lloyd and Stringfellow (Coldstream), 13 at 325, 7 at I 29s 6d; M. Wliearty (Wheatstone), 3 at 45s Id; R. J. Chapman (Willowby), 9 at 28s 8d; J. Tulley (Tinwald), 3 at 29s 9d Fat Wethers—For V. W. Wright, 10 at 39s 9d; R. J. Chapman, 12 at 37s 4d; Lloyd and Stringfellow, 16 at 37s 2d, 14 at 36s Id; clients, 13 at 45s 6d, 6 at 42s 4d, 7 at 43s 9d. Fat Lambs—For W. J. Crawford (Lagmhor), 26 at 39s 6d, 14 at 48s 9d; Croy Bros., 20 at 335; R. Slater (Waterton), 36 at 37s lOd; P. Shearer, 40 at 47s Bd, 46 at 40s; W. C. Bell (Waterton), 35 at 38s lOd; clients, 88 at 36s 6d, 69 at 40s lOd, 88 at 41s, 30 at 42s Bd, 37 at 30s Id; D. McKendry, 69 at 38s 4d; F. Merrin, 45 at 40s 9d, 25 at 38s 9d; T. Wootten and Sons (Ashton), 30 at 38s 6d; H. Millar (Tinwald), 29 at 44s lOd, 36 at 36s 3d; S. Taylor, 131 at 395; J. Tulley, 35 at 38s lOd; M. Whearty, 44 at 39s 7d; R. J. Chapman, 45 at 38s 6d; T. McGuinness (Eiffelton), 15 at 39s 6d. j Stores —Out of the small yarding of , 406 stores, 214 were passed at auction. I Sales made were: Thirty-eight two and I four-tooth shorn wethers at 31s 6d, 15 four, six, and eight-tooth three-quarter-bred ewes (in the wool) at 46s 9d, 38 thres-quarterbred hoggets (in the wool) at 50s, ? 8 three-quarterbred wethers (in the wool) at 425, 73 failing-mouth halfbred ewes (in the wool) at 24s 6d. j

DOMINION'S WOOL NEEDS.

FEATURES AT AUCKLAND. AUCKLAND, December 8. A noticeable feature of the Auckland wool sale last Thursday and Friday was the apparent apathy of local buyers. It is ascertained, however, that the reasons for this apathy were the high prices which wool offered brought and the consequent caution exercised by local firms. Mr J. F. Ewen, director of the firm of Messrs Sargood, Son and Ewen, sadd wool was at such a high price that so long as they were not compelled to buy they would not buy. He was of the opinion that if certain buyers would stop operating, prices for wool would strike a more normal level. At the present time prices were altogether too high for manufacturers to see anything in it. Mr Ewen also made reference to the competition of artificial goods. "If the price of the woollen article gets so high that cotton and artificial silk goods beat it on the markets, then we are taking too great a risk to buy at the present rates," he said. "When you do get a knock buying wool at the high figures that ruled at the sale it hurts," commented a representative of a prominent woollen exporting and scouring firm. "We certainly bought some wool, but not- in any great quantity. The London wool -sales also took place at the same time, and we were waiting for comparative prices in the scoured sorts." At the present time his firm was exercising caution.

Although most of the.wool was purchased by overseas buyers, it is believed that some of it at least will stay in the Dominion. It is difficult to isay just where it will go. A considerable quantity of the scoured wool, it is stated, went to Napier, while some of it was secured by other southern firms.

SYDNEY WOOL SALES. SYDNEY, December 8. The wool sales have been resumed with been competition in all sections. A strong market ruled for good descriptions of merino, but faulty sorts, both of merino and crossbred, were slightly irregular. Lambs' wool was in strong demand, Greasy merino sold up to 45£d per lb. LONDON WHEAT REPORT. LONDON, December 8. I Wheat cargoes have firmed 6d to Is per quarter on strong Argentine reports. Parcels are in good demand at an advance of 6d to Is per quarter. Liverpool future quotations are: December, sellers 12s 7fd; March, 12s lOd; May, 12 s per cental. INTERNATIONAL FINANCE. GREEK REFUGEE LOAN SNAPPED DP. LONDON, Dec. 8. The London portion of the £7,250,000

Greek 7 per cent. Refugee Loan was issued at £BB under the auspices of the League of Nations. It was snapped up, and the list was closed an hour after opening. , * An additional £4,800,000 is being issued in Athens and New York. Control of the loan will be exercised by the International Finance Commission.

A TWENTY-FOLD SUBSCRIPTION

LONDON, Dec. 8. The Greek Loan was subscribed 20 times over.

LABOUR NEWSPAPER'S COMMENT

LONDON, Dec. 8. The "Drily Herald" , protests that tho Greek Loan "is a revolting appeal to money-grabbers, who are anxious to get a safe 8 per cent., apart from the chance of having luck m the drawwhen the loan is redeemed by yearly drawings. The terms of issue were absurdly low. The League of Nations is playing into the hands of the money interests, and disgusting honest folk.

COMPANY REPORTS.

VAN DIEMEN'S LAND CO

LONDON, Dec. 8. The shareholders in the Van Diemen's Land Company unanimously approved a motion for the disposal of unsold land, buildings, live stock and stores of the company for £350,000. The chairman said the sum was practically double the amount offered in 1911.

THE WOOL TRADE.

NAPIER SALES

NAPIER, December 9

The second wool sales of the season in Napier opened this evening, when about 8000 bales, of a total catalogue of 27,377, were offered to the usual bench of buyers, the majority of whom appeared to be lookers-on. Many buyers who took large quantities at the first sale hardly put in a single bid to-night, but two new operators helped to maintain the market to some extent, otherwise it is thought that the market would have shown a very heavy decline. : . .. As it was, fleece wool, taken all round, showed a decrease on last Napier sale of up to 2d. Scouring wools declined Id, and super fleece wool also was easier, but, on the other hand, good pieces and necks met keen competition from France and New Zealand mills, and showed an increase on previous sale's rates. One lot of necks brought 24d, Lambs' wool showing any quality was keenly sought after, and prices were maintained. Southdown went as high as 34J and halfbred to 32|d, but the bulk of this class sold at several pence less than that anticipated: When the halfdozen buyers now operating fulfil thenengagements, there will be a further considerable drop in prices. Bidding lacked animation. In fact, the auctioneer was provoked into such remarks as, "Get to it!" and "Come on, or you'll go to sleep."

LONDON SALES. AN EASIER~TENDENCY. LONDON, December 8. At the wool sales to-day 9698 bales were offered. A moderate selection of crossbred sold readily, prices being steady. Merinos were in demand but the market was quieter, and prices were rather -easier. Medium scoureds were frequently bought in, and slipes sold irregularly. BRADFORD MARKET. The Bradford tops market is quiet. Spinners are not operating at present quotations, but prices are maintained. SYDNEY WOOL SALES. SYDNEY, December 9. At the wool sales competition was keen and the market firm. Super-wools of specially fine quality realised extreme rates, and crossbred of all grades made fully late rates. Greasy merino realised up to 51 Jd, which is a record for the Australian market.