COMMERCIAL NEWS

Ashburton Guardian, Volume 55, Issue 128, 12 March 1935, Page 7

COMMERCIAL NEWS

DOMINION WOOL SALES. FIGURES TO END OF FEBRUARY. (Special to the “ Guardian.”) CHRISTCHUROHI, This Day. The wool-selling season is well advanced, sixteen sales having taken place up to the end of February out of a total ot Lwentv'-seven sales scheduled lor the season states the abstract of statistics. Prices at tlie opening sales showed a very marked decline as compared with the prices

realised during the 1933-34 season; and, although a firming tendency was evident at later sales, it seems quite clear that the average price for the season will be about 40 per cent, below last season’s prices. The average price realised at sales held to the end of February was approximately 6fd per lb., 1 compared with an average of 11.07 dat the 1933-34 sales. The total production of wool for 1931-35 is estimated at approximately 292,000,000 lb. in tli© grease, last season’s actual production being 300,500,000 lb. Assuming the average price for the whole of the current season to be 6|d per lb. (it will perhaps be a. little bighei than this), the total value of the current season’s estimated production would be in the neighbourhood of £8,000,000 compared with £13,800,000 last season ; nevertheless, the value of the 1934-35 production will be materially in advance of the valxie for the seasons immediately preceding 1933-34, the value of production of wool at the average prices realised, at sales held during those seasons being—l93o-31, £6,400,000; 1931-32, £6,200,000; and 1932-33, £6,200,000. In making this computation no allowance has been made for held-over stocks from one season to another the figure shown being the value of each season’s total production at the average prices realised for wool actually sold during the season. PRICES AT SYDNEY. SYDNEY, March 11. At the wool sales, 11,236 hales were offered and 9826 were sold, and also 1903 privately. Prices were firm at the closing rates of the last Sydney series for all good wools, but were 5 per cent, lower and irregular for inferior sorts. Competition was strong and general, Yorkshire and Japan predominating. Greasy merino made lofd.

DOMINION PRODUCE. HIGH COMMISSIONER’S REPORT. The Department of Agriculture has received the following cablegram dated March 9 from the High Commissioner for New Zealand, London:— Tallow—Market firm, with little offering. Nominal quotations slightly higher. MILNE AMD CHOYCE. INTERIM DIVIDENDS PASSED. AUCKLAND, March 11. The directors of Milne and Choyce, Ltd., hfive decided to adopt again the procedure instituted three years ago, of passing the interim dividend on the company’s ordinary shares and debenture stock, and preference and B preference shades. The question ot dividends will be considered when the year’s accounts close on. July 31. (The dividends paid last year, in September, were: Preference 6 jier cent.; B preference, 7 per cent.; ordinary and debenture stock, 3J per cent. The subscribed ordinary capital is £29,250, preference £7OOO, B preference £15,000, and debenture stock £198,750. Reserves at the 1934 balance were £90,934.) dairy produce quiet The South Island (Dairy Association Ltd., has received the following market report from the New Zealand Produce Association, Ltd., London: — > Butter—Quiet ; 74s to 765; Danish 107 s. Cheese—Quiet. White 45s to 4os bd; coloured, 45s to 465. the share market.

The following sales were mane on the Chnstchurch Stock Exchange yestordayz— LISTED STOCKS. Sales on ’Change. A 1

£ 5. d. :30 Bank of NZ. 2 9 1 200 N.Z. R-evfrig. (10s pd.) O 8 11 600 N .Z. Breweries (6) 2 11 6 200 Timaru Brewery. Ts 6d paid (‘2) 0 8 5 100 British Tohaom (cum div.) 1 17 10 800 Bell Kilgoul' 0 0 1 50 Blackwater 1 12 3 1000 Brian Born 0 0 2-21; 0 0 2% 1300 Golden Sands (2) 0 2 2 O 2 23 1000 Goldfields Dredging... 4) 0 6 400 Kildaro (4) '0 3 6 3300 Mulmkipawa (2) 0 0 10 0 0 11 0 0 10;} (2) 0| 0 11 200 Ohm-it?) (2) 0 7 6 1000 Skippers 0 0 5} 0 0 5% Sales Reported- £ 8. d. 150 Lawson’s Flat 0 0 3 1000 Auckland Gas (contra) 1 O '6