THE WOOL MARKETS.

Auckland Star, Volume LVI, Issue 111, 13 May 1925, Page 4

THE WOOL MARKETS.

STOCKS AND THE &L.TTMF. LOXDOX, Slay 12. The "Yorkshire Post's" Bradford correspondent says the curtailment of the sales lifteed a load off tlie market. Manufacturers fearing the continuity of sales would lead to a further decline of prices, and with financial resources locked up in heavy stocks, stood alonf. Thus the position at tlie consuming end of tlie trade is made to appear worse than it actually is. This is all the result of lack of confidence in wool values. Nobody now disputes there is no wool famine. Really it was a recognition of this fact that caused tlie recent decline in values, as an uneconomic extreme, as was tlie reverse experience in November. A good many millions lost the first half of the season necessitating the assistance in either financing or carrying stocks for the second half. The growers are now carrying a stir-! plus, but it will be fatal if tlie growers yield to outsiders with a taste for war time control. If values can be stabilised on the present basis for a period of business in tops, yarns and piece goods hitherto held back, it will soon be placed more freely. Already the tone of the market is more cheerful. LONDON MARKETS. LONDON, May 11. The following rates of foreign exchanges nre current to-dny. ns compared with the cabled quotations on May 7 and par:— May 11. Mny 7. Pnr. New Tork (dol.) .. 4.54J 4.55J 4.5 C.O Montreal (dol.) .. 4.543 4.50 4.SCSI. Paris (fr.) 93.05 03.25 25.225 Brussels (fr.) 90.05 00.35 25.225 Rome (lire) 11RJ 118} 25.225 Berlin (r.m.) .... 20.3S 20.3S 20.13 Stockholm (kr.) .. 15.14 15.13 35.159 Oslo (kr.) 28.73 2S.SS 1S.15!) Copenhagen (kr.) . 25.73 25.76 15.159 Calcutta (pence) 17 11-16 17 15-16 24 Hongkong (pence) . 271 27} — Yokohama (pence) 203 20 13-16 24J Amsterdam 12.07 12.0(1 J — Batavia 12.07 12.07 — THE METAL MARKETS. (Quotations on May 7 in parentheses.) Copper.—Spot, £00 11/3 (£59 18/9); three months. £61 11/3 (£GO 18/9). Lead. —Spot, £32 7/G (£3l 17/6); three months. £32 2/6 (£3l 7/G). Spelter.—Spot, £34 5/ (£34 2/6); three months, £33 S/9 (£33 2/6). Tin.—Spot, £243 17/6 (£240 3/9). Silver. —Standard, 31gd (31gd) ; fine, 33Jd (33|d) per oz. WHEAT. Wheat.—Cargoes are dull and occasionally lower owing to violent American fluctuations. In parcels American arc offering freely at 1/ to 1/3 decline.—(A. and N.Z. Cable.) FROZEN MEAT. The New Zealand Loan and Mercantile Agency Co.. Ltd., have received the following cablegram from their London house, under date Bth Inst.:— Lamb.— 12! d per lb (average). Mutton.—Wether and maiden ewe: Light Si,d per lb; heavy. 6jd per lb. Ewe: Light.' Old per lb; heavy, Sjd per lb. Market DAIRY PRODUCE. Messrs. A. H. Turnbull nnd Co. are In receipt of a cable from Messrs. AY. Weddel Inn'— dated London May S, readButter.—Danish. IS2/ to IS4/- N Z nnsalted, 174/ to 176/; N.Z. salted, 170/ to 1(2/. Market steady fo r .hV SC W !' itr ; aud coloured, 05/ ( to üb/. Market steady.