COMMERCIAL NEWS

Ashburton Guardian, Volume 56, Issue 84, 21 January 1936, Page 9

COMMERCIAL NEWS

CHRISTCHURCH WOOL SALE. TWO CATALOGUES FILLED. CHRISTCHURCH, This Day. Fears that the exchange rate may alter has led a number of owners of, the bigger Canterbury and Marlborough stations to sell their wool in New Zealand this season, instead of shipping it to London, afid Christchurch stores i are now fuller of wool than they have probably ever been before. In fact, the catalogue for the third sale on March 3is already more than filled, i For the second sale, on Monday next, at 9 a.m., the catalogue of 28,000 bales was more than filled about the time of the first sale on December 12. Since then wool has poured into, the stores, the third catalogue of 26,000 bales has been filled, and there is a substantial quantity of wool already in hand for the unlimited catalogue to be offered on March 31. It is probable that the Woolbrokers’ Association will try to have the catalogue for the third sale expanded. A limit of 30,000 bales would relieve the pressure to some extent, but would not by any means allow the sale of all the wool that would be offering. One firm has in store already 16,000 bales above its catalogue for the second sale, and in clients’ hands in the country there is a further 2500 bales. This has been the general experience. It is probable that instead of a total offering for the season of about 75,000 bales, about the normal for Canterbury, there will be somewhere near 85,000 bales to be sold here this season. Prospects for the' second sale are bright. The London series lias opened most hopefully, and the Australian market has remained buoyant. The wool to he offered is excellent, as it always is for the January Canterbury fixture, and this year a favourable growing season has brought it to. the market in wonderfully good order. Most of the showy ewe clips will be represented, as usual, and this year there will ho a number of newcomers in this class in clips that have almost since the beginning of things regularly been shipped to England for sale.

DAIRY PRODUCE. BUTTER. MARKET SLOW . The South Island Dairy Association, Ltd., has received the following market [report from the New Zealand Produce Association, Ltd., London,' dated January 18: — Butter—Slow, 90s to 925. Danish, 115 s. Cheese—Quiet. White, 53s 6d to 545. Coloured, 57s to 58s. STRONG COMPETITION CONTINUES. SYDNEY, Jan. 20. At the wool sales, 12,960 bales were offered and 11,688 were sold, also 1906 privately. There was strong, general competition and the market was firm for all descriptions other than good spinners’ wools, for which the demand was I somewhat irregular and. the extreme I prices offering at the early auctionsl last week were not always forthcoming.! Greasy merino sold at 26d per lb. E Last week’s average prices were 15.8dl per lb, or £l9 Is 4d a bale. 1 AUCKLAND GAS DIVIDEND. | AUCKLAND, January 20. | The directors of the Auckland Gas Company, Rtd., have decided to recommend the payment of a final dividend of 2J per cent, for the half-year ended December 31, making 5} per cent., un changed, for the year on both fully paid and contributing shares. The dividend is payable on February 4. TRUSTEES EXECUTORS’ S DIVIDEND. I WELLINGTON, January 20. | The Trustees, Executors and Agency! [Company, Ltd., of Melbourne, lias ad-l vised the Sto.ck Exchange Association! that the hoard of directors has declaied an interim dividend for the half-yeai ended December 31 at the rate of 6 pel cent, per annum, payable on February 3. The transfer hocks of the compaii3 will" he closed from January 20 to Feb-I ruary 3. 1 Dividend last year was 6 per cent. I THE SHARE MARKET. [ The following sales were made on I the Christchurch Stock Exchange 3’ es ‘ j terday:— r

FROZEN MEAT TRADE. 1 Messrs J. T. Thomas and Co. have! received cable advice from their London|

agents under date January 18, as under : , Q , New Zealand Lambs— Down, 2 s, Bcl, Bfd : secondary, 7fd, 7£ct; 2s, 7ij ( l, Bd , B’s, 7.1 d, 8d; secondary, 7*d, 7,dNew Zealand Mutton—Small, od, bcl; large, 3§d, 3§d. . New Zealand Ewes —Small, 3Jd, 3»d ; large, 2Jd, 3d New Zealand Frozen Beef —Ox hinds, 3}d, 3|d; fores, 2£d, 2}jd. _ _ South American Chilled —Hinds, 03d, 6d ; fores, 2gd, 3gd. . Dominion Chilled—Hinds, 4-)d, otl; fores, 2-id, 2fd. New Zealand Pork — 6§d, 7d. Australian Lambs—Gd, 7jd. Argentine Lambs —Gd, 7d. Lambs—The demand is moderate; the market is short of stock until the next arrivals. t Wethers—The market is weaker for heavy weights; light weights remain steady. 1 Ewes—The market is inclined to he weaker, supplies being more than sufficient to meet the demand. Beef—There is a good demand for hind-quarters, but only a slow sale for fores. Pork—The demand is moderate, but prices a shade lower. Trade generally is slow.

LISTED STOCKS. Sales on ’Change. £ s, d. 100 Goldsbrougli Mort ... 1 13 0 8 200 Mortgages Corporation 0 4: 122 N.Z. Refrig. (10s paid cum div.) odd lot ... 0 10 11 100 Claude Neon (Sydney) (2) 2 17 9 100 G. J. Coles 3 13 0 200 N.Z. Farmers’ Co-op. (10s paid) (2) 0 0 6 100 Mount Lyell 1 0 11 100 Mount Morgan (2s Gd paid) 0 IS 5 Sales Reported. £ s. d. 150 Woolworths (N.Z.) (Pf-) 1 18 6 100 G. J. Coles 3 13 6 3 13 9 75 N.Z. Drug Co. 4 1 3 50 British Tobacco 2 0 6 100 Goldsbrougli, Mort ... 1 13 0 50 Bank of New Zealand 2 7 8 UNLISTED STOCKS. Sale on ’Change £ s. d. 400 Argo Gold 0 1 4 500 New River (Is paid) 0 0 8