COMMERCIAL NEWS

Ashburton Guardian, Volume 58, Issue 37, 23 November 1937, Page 8

COMMERCIAL NEWS

AUCKLAND WOOL SALE. THE PROSPECTS DISCUSSED. AUCKLAND, November 22. Final preparations are now being made for the first of the 1937-38 series of Dominion wool sales, to be held in Auckland on Saturday. The catalogue of 25,000 bales was filled about 10 days ago, and as thei'e will be no increase in the allocation, all wool which, has come into store since then will be held over until the second Auckland sale on January 24. Brokers estimate that already between 8000 and 10,000 bales have been withheld. Brokers express satisfaction that the limit for the first sale is larger than last season, for although there was no carry-over, the spell of fine weather has been so suitable for. shearing that wool has been pouring into the stores for the last month. The allocation last year was only 21,621 bales, and in 1935 was 21,098 bales. Although a particularly large amount of wool will be held out of the first sale, the position is not regarded as serious, as the allocation for the second Auckland sale has been fixed at 30,000 bales, an increase of 5000 bales over the corresponding sale last year. The wool is well grown and lighter than usual, and altogether is brighter than last year’s clip. The majority is good to super top-making wool, and very little lambs’ wool is present. There has again been a greater tendency toward classing this year,- and this should result in an increased return to the grower. “We can only hope for the best,” said Mr B. J. Marquet (chairman of the Auckland Woolbrokers’ Association). “Values at the London sales are considerably lower, but the wool offered there was old season’s. They are evidently awaiting a lead from the Dominion sales when the new season’s wool will be offered, and New Zealand is fortunate that it is starting the season with no carry-over and that the condition of the wool is so good. “Several Japanese buyers have arrived in Auckland, but their presence does not necessarily mean that they will be buying. The trade agreement with Germany may assist her buying, but it is not yet known how much she will take. At this season s sales Bradford and France should operate as usual, but the volume of purchases by America is doubtful. There is ample room for a drop in prices from the levels ruling last year, which were unusually good.” THE SHARE MARKET. The following sales were made on the Christchurch Stock Market yesterday:— LISTED STOCK. Sales on ’Chang©.

Sales Reported.

THE SYDNEY WOOL SALES. SYDNEY, November 22. At the wool sales 10,025 bales were offered, 8406 were sold at auction, and 565 privately. The best descriptions generally were easier, and in places 5 per cent, lower. Wools carrying dust and burr also fell 5 per cent, and were often difficult to sell. Greasy Merino made to 25|d. The average price last week was £l6 Is lid a bale and 13.1 d per lb.

£ s. d. £1250 N.Z. Govt. 4 p.c.. Ins., 1943-46 (2) 103 0 0 100 Comm, of Aust. ... 0 16 11 200 Bank of N.Z. (2) 2 4 8 300 Goldsbrough, Mort, (3) 1 11 9 200 N.Z. Guarantee Corporation 0 4 8 100 Felt and Textiles . 1 15 3 100 Westport - Stockton Coal 0 2 9 300 Broken Hill Propty 2 18 8 (2) 2 18 6 2 18 7 300 Broken Hill Propty. (rights) 1 7 1 8 3 2 1 8 3 1 8 4 / ■ 1 8 5 150 Electro. Zinc (ord.) 2 5 9 4 7 550 Electro. Zinc (pref.) (7) 2 8 4 100 Taranaki Oilfields . 0 6 3 100 Woolworths (Sydney, ord.) 1 6 3 200 Woolworths (South Africa) 1(2) 0 14 3 200 Glev River (7s 6d pd.) (2) 0 9 6 900 Broken Hid South (4) 1 14 8 1 14 - 9 1 16 0 (3) 1 16 3 1000 Mount Lyell (2) 1 13 0 1 14 0 1 14 4 (2) 1 14 3 (5) 1 14 2 200 North Broken Hill 2 9 10 2 10 8 300 Rawang Tin . (3) 0 10 1

100 Com. Bank of x\ust. 0 16 11 SO ‘National Bank of N.Z. 2 17 3 200 Felt and Textiles .. 1 14 9 100 Felt .and Textiles (rights) 0 14 0 100 Woolworths (Sydney, ord.) 1 6 3 50 Mount Lyell 1 13 1