OVERSEAS MARKETS.

Auckland Star, Volume LXIII, Issue 28, 3 February 1932, Page 4

OVERSEAS MARKETS.

LONDON WOOL SALES

CLOSE OF SERIES. A STRONG FINISH. Messrs. Dalgety and Co., Ltd., report having received the following cablegram from their London house, dated 2nd instant: — The wool sales closed firm and active, good general competition. Full attendance, good average selection, Germany and Home trade principal operators, French buyers operating on a small scale. An compared with closing rates of last series scoured Merino is unchanged, except scoured Merino inferior and faulty, which is %d to Id higher; greasy Merino, par to %d higher; greasy halfbred, %d to %d higher; greasy crossbred, fine, %d to 3id higher; hoggets, . V±d higher; superior greasy crossbred, medium, 3 -4 dto %d higher; greasy crossbred, other descriptions, unchanged; scoured crossbred, %d to Id higher; fine slipe, par to %d higher; other descriptions slipe unchanged. Offered 128.398 bales. Home trade have bought 65,500 bales, Continent 50,000 bales. America, 101)0 bales. Carried forward 23,500 bales Australian, 35,500 bales New Zealand, of which 53,500 bales were not offered. The total number sold was 116,500 bales.. Halfbred, 56's to 58's, good to super, 12d to 13Vid; low to medium, 9%d to ll%d; 50's to 56's, good to super, lOMid to 12d; low to medium, Sd to lOVid. Fine crossbred, 48's to 50's, good to super, 7%d to B%d; low to medium, 5%d to 7d; 46's to 48's, good to super. 6%d to 7d: low to medium, s'/id to 6%d. Crossbred, 4'l's to 46's, good to super, 6%d to 7d;* low to medium, 5d to 6d: 40's to 42's, good to super, 6d to o%d; low to medium, 4%d to 5%d. Coarse crossbred, 36's to 40's. good to super, 5%d to 6%d; low to medium, 4%d to sV£d. THE BANK'S REPORT. The Bank of New Zealand has received the following advice from its London office, under date the 2nd inst.: The sales have closed firm for all kinds of wool. Current quotations:—Greasy Merinos, 60/64's, lid to 12d per lb, good average condition; greasy Msrinos, ordinary, 60/64's, 8d to 9d; greasy Merinos, inferior, 60/64's, 7d to 7%d; greasy lialfbreds. 56's. lOVad to llVsd; 50/56's, B%d to 9%d; greasy crossbreds, 50's. 7 1 / id to 7%d; 48/50's, 6%d to 7(1; 46/48's, 5%d to 6%d; 44/4G's, 5%d to 6d; 40/44's, 5%d to 5%d; 36/40's, 5%d to 5%d. DAIRY PRODUCE. MARKETS STILL FIRM. New Zealand Producers' Co-operative Marketing Association have to-day received a cable from their London office, dated February 2, reading as follows:— Butter.—Market firm. New Zealand, 101/ to 103/: Danish, 123/. Cheese.—Market firm. White, 62/ to 63/; coloured, 62/ to 63/. Messrs. Joseph Nathan and Co. have received the following cable from their London principals, Messrs. Nathan and Trengrouse, dated London, February 3:— Butter: 103/ per cwt. Cheese: New Zealand, white, 63/ per cwt; coloured, 62/. Both markets firm, but quieter. PRICES FOR METALS. LONDON, February 1. (Quotations on Jan. 28 in parentheses.) Copper—Spot, £37 13/1% (£3B 0/7%); three months, £37 13/9 'f £38 3/1%). Electrolytic Copper.—Spot, £45 (£45); three months, £46 (£46 10/). Wire Bars.—£46 (£46 10/). Lead.—Spot, £14 10/ (£l4 10/); three months, £14 12/6 (£l4 12/6). Spelter.—Spot, £14 (£l4 2/6); three months, £14 7/6 (£l4 10/). Tin.—Spot, £139 13/6 (£133 8/9); three months, £142 8/9 (£l4l 6/3). CHICAGO WHEAT VALUES. (Received 10 a.m.) CHICAGO, February 2. Wheat for delivery in March is quoted at 56% cents per bushel, for delivery in May at 59% cents, for July delivery 59% cents, and for September 61% cents. SILVER AND GOLD. LONDON, February 2. Gold is quoted at £6 0/2 an ounce, silver at 19% for spot delivery and 19 13-16 for forward. COMPANY AFFAIRS. NEW SOUTH WALES BANK. QUARTERLY INTERIM DIVIDEND. SIX PER CENT PER ANNUM. The directore of tlie Bank of New South Wales have declared an interim quarterly dividend of 6/ per share, Australian currency, at the date of payment, February 29. This is the same rate as was paid for the previous quarter. ELECTROLYTIC ZINC. PREFERENCE DIVIDEND. The directors of Electrolytic Zinc Company of Australasia, Ltd., Melbourne, have advised the Auckland Stock Exchange that a dividend at the rate of 8 per cent per annum has been declared for the halfyear ended December 31, 1930, on preference shares, payable to shareholders registered at March 1. NEW AUCKLAND COMPANY. The following private company was registered in Auckland yesterday:— MacEwan's Machinery, Ltd., iron founders, mechanical engineers, manufacturers of machinery, etc. Capital: £20,000 in 20,000 shares of £1 each. Subscribers; W. J. McGowan and V. R. Gunn, 2000 shares; Daniel Joseph McGowan, William Dixon Mellor and John Francis Sullivan, each 2000 shares; lan Arthur MacEwan, 10,000 shares; Oscar Gumar Lindstrom and Alan Stuart McNaughton, each 1000 shares. OUR DAIRY COMPETITORS. In his monthly report to suppliers of the New Zealand Co-operative Daii-y Co., Mr. W. Goodfellow reported that drv conditions had been reported in Victoria, where production was falling away. On the northern rivers of New South Wales and Queensland the flush had passed and the output was gradually declining. Nevertheless, production remained at an abnormally high figure. Montreal quotations approximated 21 cents, which made importations from New Zealand out of the question. As the tariff agreement between New Zealand and Canada had to he ratified by both Governments it was very doubtful if ; t would be effective during the present export season. In any case, Canada did not require butter at present. Continuing, Mr. Goodfellow said it was reported that the Danish Government had declared a moratorium on farm mortgages and interest. Land values were very high considering the severity of the climate, and with the collapse of tlie baoon market the result was that the Danish dairy farmer was in an exceedingly difficult financial position. ]