SHEEPSKINS AND HIDES.

Auckland Star, Volume LXV, Issue 238, 8 October 1934, Page 4

SHEEPSKINS AND HIDES.

WELLINGTON SALE PRICES. Hides advanced fully a halfpenny and some sorts rip to a penny at the sale held on Friday by the Wellington brokers. Spirited competition prevailed, for all lots of hides submitted, and a total clearance was made at auction. Best conditioned parcels were in very keen request, exporters and tanners taking the bulk of the offering. As compared with the previous sale, heavies, mediums and lightweights were VL'd to 94d higher, while kip and yearling advanced Mid. Calf met a strong maiket, prices generally being Vz<\ and at times %d better. Weights of lib to 51b sold to T'/sd. Gib to Sib to B%d and Dlb to 101b to 6%d. There was an excellent competition for all qualities of sheepskins, fine wools coining in for special attention. Halfbreds and fine crossbreds were fully up to late quotations* while other descriptions were par to '/id easier. There was a good demand for tallow, prices being Gd to 1/ a cwt better. LONDON QUOTATIONS. LONDON, October 0. At the London hides sales to-day quotations were:—Meat works, dry salted: Queensland, 3511> to 451b. sd; 301b to 401b, 4%d; 251b to 3511). 4%d; New South Wales, 5V6d, sVid. 5%d and 5%d. Wet salted: Queensland, 501b to 601b, 3%d: 401b to 501b. 3%d: New South Wales, 4d and 3"ad; Victorian abattoirs, 3%d and 3%d. INVESTMENT TRUSTS. STOCK EXCHANGE ATTITUDE. Further reductions of rates of interest and a general improvement of trade and industry would follow the success of the Lyons Ministry at the recent Federal elections, declared the chairman of directors of Were's Investment Trust, Ltd., Mr. S. Ricketson, at the annual meeting of shareholders in Melbourne last Friday. Discussing inquiries' into the affairs of certain companies which had been described as investment trusts, Sir. Ricketson said that the application of the trust principle to investment was a comparatively recent development. An opportunity and a responsibility was presented to the Stock Exchanges of the Commonwealth and New Zealand. The public regarded the listing of stocks and shares on the Stock Exchange as. at least, evidence of bona fides. Unfortunately, stock exchange committers in Australia and New Zealand were inclined to regard all investment trust companies with disfavour, and to refuse them quotation. In other ,parts of the world this was not so. Good would result if stock exchanges in Australia and New Zealand would alter their attitude toward properly managed investment trust companies.