COMMERCIAL.

Press, Volume LVIII, Issue 17611, 14 November 1922, Page 8

COMMERCIAL.

CHRISTCHURCH. WOOL SALE. NO ALTERATION IN DATE. The Christchurch Woolbrokers* Association has decided, in spite of the strike, not to alter the date of its next sale, and accordingly the sale will take place in the Choral Hall on Thursday. In all, about S2Oo\a\es will be offered. The following list gives the names of the firms engaged and the approximate number of hales to be submitted: — Pyne, Gou!o, Guinness, Ltd. ... 2000 N.Z. Farmers' Co-op. Association 900 Matson and Co. ■•■ ••• 800 Dalgoty and Co.. Ltd. ... 800 National Mortgage and Agency Co. ... •■• •■• 6°° N.Z. Loan and Mercantile Agency Co 10° AUCKLAND WOOL SALE. OFFERINGS OPENING TJP WELL. (special to "the press.") AUCKLAND, November 13A fair quantity of wool is being revived in Auckland for the first sale of the season, which is fixed for December 2nd. The bulk of the offerings, however, is expected to arrive from now till the catalogues close on November 25th. Shearing ie still proceeding in various parts of the province and though operations have been somewhat retarded by the broken weather that has been experienced, no serious delay has occurred. The shipping trouble has resulted in wool being delayed at North Auckland and Bay of Plenty ports, but enfficient quantities are coming to hand from districts accessible by ran to.warrant the sale, being held. The question of price at the Auckland sale will depend largely on the manner in which tbe wool is classed. Attention to this factor has been repeatedly urged by experts, and in times of comparatively low values the eity for presenting wool in the most attractive manner possible is more important, than ever. The wool that has already arrived for the sale is said_ to be opening up well. It is chiefly medium crossbred, in fairJv bright condition. It is expected thm the quality of the wool this season will be better than in previous, yeans, owing to the exceptionally good condition in which the flocks came through the winter. MOSGIEL WOOLLEN COMPANY. ANNUAL'MEETING.

.' (special to "the pbess.") .'' ' • , ■ . DUNEDIN, November 18. Sir John Roberts, who leaves for the Old Country next April, has been on the board of directors of the Mosgifil Woollen Company since inception 49 years {ago. In moving the adoption of the annual report at to- • day's meeting lof the company, he ixpressed his regret that heVwoujd not' bei present at 's■; the half centurj meeting of the company.next year, and said: "lam pleased that I am again able to shareholders,on the com- , had a successful When we last metm general meeting I mentioned that the'cplonial mills were to a certain extent experiencing somewhat severe competition from Home manufacturers, and' although this has been in evidence during the past year the result has not been much felt by the company, as the profit with which ffip year has closed i» quite satisfacas is evidenced by the increase of , profit from goods account amounting to £2943. 'During the now current year colonial mills will require to face a '-material increase in the cost of , .meS'iho "wool, and to a leaser 'extent in Tine halfbred wools, but I am hopeful that in spite of this we will be able to sell"our productions at prices which * with result in our earning a- fair profijrf. It is, however, necessary • thatt „ caption in the conduct of the-company's '.business should be*'exercised as undesirable developments may'arise wiihoujßJrmuoh warning, and shareholders may rest content with the assurance of the directors that they will carefully - .watch,the position. The mill has been i, kepKfully employed and the output haß '£ ./been guite satisfactory. 'The good deWhich the company enjoys for f \ > producss'pf-the .mill prompts the direcA tops to consider the question of adding * some" new machinery'with the view or ; increasing the output, and the mill '"manager has submitted a list of, yariV machines which will be required. will not be necessary to provide for . Vi, additional buildings, as we shall be able/ •* <;by*ihe> reorganisatron or the'room at , _ ?onr disposal, to accommodate the new \- - There .are now on order -1l from- the English makers, tape cdh- -*, deniers which will coat about f U and v it is to be' hoped that these H jmachines, which-have .been on order for *-~ 'W$& time, will arrive before long. The ■f" 6W|fof the new machinery which it is fu .infjfSnded to place on order spon~ will / amount to about £12,000. Although t, - about £15.000 will be required to cover r all. the outlay on the new machinery, ; I ; am glad that the company's finances i are so strong that no call on thejpn- " _ called capital of the company's 'shares r will be neoessary." \ PAPER MAKING. ; , FROM AUSTRALIAN WOODS. X' ', '„ tt . progress has been- made with the '"•* ptoffi'msUng experiments which- the Instt- - * }qfejpf Science wad Industry is carrying out , ipilit Australian Paper end Pulp'Co.'e mill iie»r' ! >tJ«eJong[.'iw.y». the "Sydney Horning A pftper-xneHng test of 65 per k' «osrbkckbutt r/nlp/ 26 per cent., imported .- pulp, and 10 per cent, waste paper* , haa-been* oompleted, with the result that a *N good.'grade of cream-laid .paper hat been £ - H. Knibbs. the director of the Insti- **' vtw'fcM been advised by an" authority on jt' I/. R. Benjamin—that the biaoktests have shown not only that the gives * higher yield of pulp per cord fj'than-any'wood «t present in general use for purposes in other bnt also the cost of treatment is at least as low as < y *j&r fox most of the .woods-.oommonly need jar 'pulping/ Moreover, the tkokbutt pulp , < aeema to be capable' of conversion into many gsadßS «nd weight* of paper, and may well replace much of the sulphite pulp imported, if it can be produced on a large scale - low.coat. "The 'lnstitute of Sc&rtc* and Industry expects to be able to rarniah in the course of a few weeks definite „_, data mto the costo of production of paper jute:*from blackbutt and other Australian' - •Blackbott grows mainly in the cb'aYtal dis•'tricto of New South Wales, Victoria, and Queensland. ' In New South Wales, along the- North Coast '.Railway, there are State forests in which blackbutt is the chief tim•whilst otbeis*featt« opened for' settlement frequently, contain blackbutt, for which Ike holders would be glad to. find " &s?* - a3w New Wales Forestry Jm S!" e * ttm ***a *b«t * mill locality could obtain blackbutt !§&£??<'*' pn *< ao * •weeding ,80s per

BRITISH TRADE. RETURNS FOB OCTOBER. (By Cable—Press Association—Copyright.) (Australian and N.Z. Cable Association.) LONDON, November 11. The Board of Trade returns for October ehow that the value of imports compared with October last year increased by £280,338. Exports decreased by £1,866,636, and re-erporte decreased by £2,108,463. The principal decreases in imports were grain and" flour £7,015,539, and in exports vehicles £2,147.215. cotton yarns and manufactures £1,871,311. The principal increases in imports were: Dutiable food and drink £"2,312,026, raw cotton £2,342,894, wool ( ), timber £1,680,484 ; and in exports coal £2,141,178. THE EXCHANGE PROBLEM. empire: currency scheme. (By Cable—Press Association— Copyright.) (United Service.) LONDON. November 12. A gathering of representatives of the Dominions at the Royal Colonial Institute discussed a scheme propounded by Mr John Darling, a director of the London Joint City and Midland Bank, for the creation of an Empire currency, aiming at obviating the present necessity, when it is desired to pay money into the Dominions, of having to convert English money into Dominion currency. It is claimed the scheme will enable the Dominons to borrow in London at the lowest rate, instead of as at present 1 per cent, more than the British Government has to pay. Lord Milner supported the scheme, regarding which mixed opinions are expressed. AUCKLAND STOCK EXCHANGE. (press association telegram.) AUCKLAND, November 18. Sales:—Auckland Gas, 245; Moan«.taiari, 2s 8d; Grand Junction, 10a 2d, 10s Bd, 10s 4d. CLOSING QUOTATIONS.

DUNEDIN STOCK EXCHANGE. (FBESS ASSOCIATION TKtKOBAK.) • DUNEDIN, November 18. 'Sales—Papuan Products, 6d (two); Waihi Grand Junction, 10s 3d. Sales reported—Moegiel, £6 lis; Papuan Products, 6d.

CHRISTCHURCH STOCK EXCHANGE. YESTERDAY'S .TRANSACTIONS. Soles zeported—N.Z. Govt. 4J per cent. Bonds, 1338, £96 12b 6d; National Bank of New Zealand, £6 3a Cd; N.Z. Befrigeratis? (£1 paid), £1 6s 9d; Christcnurch Gas, £7 14s 64; Electrolytio Zinc Co. (pref.), £1 7s 3d. Sales on 'Change—Union Bask of Australia, £l3 8s 6d; Goldsbrougn Mort, £2 Is 6d. New Zealand Government 6}-per cent. InLATEST QUOTATIONS. Bayers. Sellers.

OTHER EXCHANGES. (press association telegbam.) WELLINGTON, November 18. Sale reported:—Bank of New South Wales, £35 ss. SYDNEY WOOL SALES. (By Cable-r-Pwsa Aasodaticnj-Oopyrisrht.) (Australian and N.Z. Cable Association.) (Received November 14th, 1.16 p.m.) SYDNEY, November 18.At the wool sales skirtings were firm, but merino fleece wools were in less demand, with an easipg temdaucy, and sold at 6 to TJ per cent, below laat week's level. • DAIRY PRODUCE. The New Zealand Loan end Meroantile Agency Co., Ltd., have received the following cablegram Jrom their Londoll office, under date "New Zealand Butteiv-Salted 2U% to 216 a per owt, unsalted 224s per owt. Temporary shortage. "Cheese—l27a to 180s per owt. Stocks very eoaroe." THE CITY MARKET. Report of weekly sale and outsddo sako ©ottducted by this firm:—Account) Mr Marshall: Turnout iESS. Account Wright's Estate: 8 harrows-85s, plough £2 ss, horse rake. £l2 2s 6d, set discs £5 ! ss, gig harness, and horse £9 16s, old dray £2; Account Mr Stooker: Spring- dray £2O. Account Mr Thornton: Spring dray £l4 10s. Account Mr Mason: Stock cover £lO 10s. Account Mr Cooper: Cow £9. Account Mr Huleton: Cow £9 16s, 4 pigs at 18s, 8 at 14s, 2 at 16s, 2 at 18s 6d, 1 at 17s, 1 at 18s, 1- at 19e, 2 at 20s each, spray pump 225. Planet 17s and £2 10s, 2 hand ohaffcutters £2 12e €d and £B, mangle 80s, 2 tubs 80s, 2 wheelbarrows 25s and 82s 6d, and splendid consignment of garden and other tools from 8s 6d to 20s, gas copper £3, institution beds 16s to 808/ lntio* 16s to 80s, portmanteaTix 10» to £2 12s. 6d, mattresses 10s to 30s each, hallstand 27a, set ware SOS, washstand 21a, ea!a3 bowl 20s, ex. tables 26s to £2 15s, 8 duchesses 20s to £8 17s 6d, eggs Is Id to. le 2Jd,- and poultry at late rates. Having conducted auction sale account Mr S. Gorvan Lincoln- rood, 2 days' sole, horse, carts, harness, timber and sundries, furniture and efieotey and on-+—vf- of _BTOcer'a shop. Also, account Mr Franklin, Kaiapoi, furniture and effecta.; and account Mr Faithem. Spreydon, furniture and effects, and splendid collection of tools and outside lots, which, found - keen purchasers. H. C. Smith, Auctioneer, the City Market. 2928

Buyers. Sellers. £ e. d. 4 s. d. BANKS— Australasia ... 18 0 0 — Commercial — 3 4 6 National 6 2 0 — New South Wale* 34 17 6 85 7 6 ""Jew Zealand .. 3 16 6 2 16 9 Union .. 18 6 0 — INSURANCE— , National 8 7 0 8 8 0 New Zealand .. 1 7 6 1 7 9 South British .. 1 IS 0 1 16 0 Standard .. .. 1 18 0 FINANCIAL-^ Goldsbrough Mort 2 0 0 3 1. 6 N.Z. and River Plate .. 0.19 G —' Loan and Mercantile ., 78 0 0 — Loan and Mercantile (prof.) .71 0 0 — COALTaupixi 0 17 0 0 17 6 Taupiri (pref.) 1 2 6 — Waipa .. ' .. 0 16 a — ■- "Westport . .. 1 18 8 — GAS- ■•.••-. Auckland Gas 1 8 9 1 4 6 Auckland Gas (cont) 0 19 0 .— SHIPPING— Huddart-ParkeT 2 11 a 2 13 0 Northern Steam 0 18 0 — Northern Steam, (cont.) 0 6 0 0 6 8 P. and 0. . .. ■:'. 800 0 0 830 0 0 Union Steam (pref.) .. 0 19 8 ';— UMBERS- ■"[}■'/-■■ Bartholomew : ' .<. 0 18 0 ' — Kauri \..,. . ;.. ■ ;.. —' 1 9: 0 Levland O'Brien. 117 0 — - MISCELLANEOUS— Auckland Trams 0 17 6 0 18. 6 Auckland Trams (pref.) 0 17 6 /© 18 9 Bycrpft ;:.•'.-;:•>•;' .-'• ■ . .... o ia o , — Colonial Sugar (Aust.) 34 0 0 ■' — Colonial Sugar (Fiji) .. 9 15 0 — Gear Meat 1 14 8 1 17 0 Newton King (pref.) .. 0 13 0 0 17 0 N.Z. Express Co. .. — y 0 16 9 Milk Produota .. — 1 3 6 Paper Mills, .. .. 1 8 0 — N.Z. Refrifraratfng (con.) 0 14 0 0 14 4 Wil«ra'» Cemen .. 1 1 6 11 9 MINING— ■ Moanataiari , .. 0 2 0 0 8 e "Waihi : •"•■'•'.f 1 '-;■;*■■■ ■■■ ., i n 0 1 11 8 Grand .Junction . *.-. 0 10 8 0 10 6 DEBENTURES-^ ' Auckland Givs, 1928 .. loa io 0' ■ —. Auckland Harbour (6 • ; -, : .' per. cent.) ■■'■. 103 0 0 —. . (. Auckland . Harbour. . (6J per cent.) ■ '■'•.. '98 10 0 .' ■ — City of Auckland, 1940 93 10 0 — . Mount- Eden "i. ■ 104 10 0 — • Byprofts.,. ■•'..'■_..',.;.; .. 93 0 0 97 10 0 " Gisbornei Sheepfarmers. "■■■■■— 103 0 0 Macky, Logan 99 0 0 —' War Loan, 1988 95 15 0 96 10 0 War Loan-. 1937 »»B 5 0 — Soldiers' Bonds , .. 99-1$ 0 — N:Z. Inscribed,; 1937 .. 98 5 0 ' .— N.Z.. Inseribed, 1959 .. UK 5 0 — N.Z. Inscribed. 1938 .. 95 15 0 96 10 0 Tf;/i. Inscribed. 1939 .. 98 0 0 "6 10 0 ; SoldieniMnscribed ■,. 99 15 0 100 5 0

, CLOSING QUOTATIONS. , f ' ' < Buyer*. \Seller*. £ B. A £ s.<L BANKS— Australasia .. 13 IS 0 18 4 0 New South Walea 86 6 0 — New Zealand .. 3 16 .6 3 17 0 National •• •• 6 8 0 —i P. and 0 14 0 0 ►— Union .. •• 0 18 6 — INSURANCES— National .. •• 8 7 0 '— New Zealand .. 3 7 5 3. 7 10 South British .. ... — 1 16 0 Standard . .. 1 11 0 — SHIPPING— Huddart Parker (ord.) .. 3 11 0 3,13 0 New Zealand , (prej.) .. 10 0 0 — P. and 0. (def.) ' Union S.8. Ob. (praf.) .. 16 6 0 16 0 0 0 19 7 10 0 COAL— Taupiri -— ' 0 18 0 Westport 1 18 9 1 14 8 Weatport-Stockton (ord.) — 0 6 0 Westport-Stookton (prat.) — 0 9 0 FINANCIALGoldsbrcugh Mort 3, 1 0 32 6 Loan" and 'Mercantile .. 8 16 0 — N.Z. and River Plate .. 6 IS 9 — Perpetual Trustees 1 16 ,6 — Trustee* Exora. , 3 6 6 — Wright, Stephenson (ord.) — 1 8 6 Wright. Stephenson (pre*-) _ , 0 17 6 MEAT— 1 N.Z. Refrigerating (con.) — 0 14 8 Southland Froien Meat (ord.) 16 0 — Brown Ewing and,Co. (ord.) MISCELLANEOUS— it o 'Blown Ewing and' Co. (pref.) 10 0 ~• D.I.C.(ord.) \. D.I.O. (pref.) .. 1 0 8 0 S 0 Dominion Rubber 0 18 0 0 18 6 Donaghy's Rope 110 8 — Dunedin-Kaikorai trains 1 4 0 — Dunedin Stock ex. prop.' Dunlop Rubber 3 0 6, "1 0 0 • _ Milburn Cement 110 9 1 11 6 McLeod Bros. Soap .. IS 0 0 — National Eleotrio 19 8 — N.Z. Drug Co, 3 18 6 — N.Z. and Malay Rubber 0 7 0 — N.Z. Paper Mill* (pd.) 1 18 6 — N.Z. Paper Mills (con.) 0 3 6 — N.Z. Sugar of Milk .. 15 0 — Otago Daily Times .. 3 16 0 — Papuan Products — '0 0 9 Smith audi Smith (pref.) 0 19 0 — Wilson's Cement 115 i a o WOOLLENSBruce 113 0 118 o Kaiapoi (ord.) 18 0 14 6 Kaiapoi (eon.) 0 13 8 — Kaiapoi (pref.) 110 — Moans! ' MINING— , 6 10 — Nokomai Hwbmlio .. — 0 11 0 Rise and Shin* ' — 0 3 6 Wftihi ' 118 1 1 13 0 Grand Junction'-. o io a 010 5 Mount LyeU r •i l i\ 13 0 DEBENTURES—.'; - War-Bonds, 1930 96 2 6 97 Jl 6 -War Bonds, 1988 96 3 8 97 0 0 War. Bonda, 1989 >. Soldiar«"~Bond« 96 3 6 97 0 0 99 3 6 — , Inscribed, 1938 97 0 0 , *— Inscribed, O*? 96 0 0' 97' 0 0 Inscribed,. JSpMiert, 1933 .Postal "V- .. .; 99 17. 6 96 5 0 • .1. ]MJ.Jf); -, «, WOO

£ e. d. £ 8. d. DEBENTURES— N.Z. Govt. 41 per cent. Inscribed, 1838 96 7 6 96 16 0 N.Z. Govt. 4J per cent. Bonds, 1938 96 7 6 97 0 0 N.Z. Govt. 61 per cent. - Inscribed, 1338 .. 99 15 0 99 17 6 N.Z. Govt. 51 per cent Bonds, 1S33 99 16 0 99 17 6 Broken Ball "B" 6 per csnt., 1931 — 97 0 0 BANKS— Australasia 12 17 6 13 a. G Comm. of Australia .. 1 13 0 114 a National of N.Z,. 6 2 6 — New South Wale* 86 2 6 85 10 0 New Zealand 2 16 6 2 16 9 Royal (£1 paid) 1 12 6 1 13 3 Union of Australia .. 13 7 6 13 9 6 INSURANCE— New Zealand ' 1 7 0 1 7 9 LOAN AND AGENCY— Dalgsty and Co. (cum. div.) 11 7 6 12 0 0 Gold3brough Mort. 2 1 3 2 19 SHIPPING— Adelaide Steamship — 1 1 0 Huddart-Parker 2 11 0 2 11 6 Union (5J per cent. cum. pref.) 0 19 8 1 0 0 FROZEN MEAT— Canterbury 14 0 0 1*15 0 Canterbury (6 per cent.' cum. pref.) 6 0 0 ~~ N.Z. Refrigerating {£1 paid) i 6 9 1 T 9 N.Z. Refrigerating (10« e paid) 0 1* 1 0 14 North Cant. Freezing (cum. div.) a l 0 a 10 0 COALWestporl (cum. div.) .. 1 18 9 ™* Weetport-Stockton (8 per cent, non-cum. pref.) "~ 0 8 0 W30LLENSKaiapoi (£1 paid) 1 8 0 — Kaiapoi (10s paid) 0 12 3 0 12 9 GAS— ChriatchuToh .. •• 7 18 6 7 14 6 BREWERIES— Crown .. •• 1 14 8 1 15 v Manning •• •• — 3 7 ~ u Ward 1 9 0 1 4 0 CEMENTS— Wilson's N.Z. Portlandl (cum. div.) 1 1 0 1 3 0 MISCELLANEOUS— N.Z. Dtuj Co. 2 18 8 2 14' 0 N.Z.. Paper Mills 1 3 9 1 4 a United Pictures 1 4 0 16* u Whitcombe and Tombs 3 8 6 ~~ Electrolytio Zino (pref.) 17 8 ~" MINING— Waihi — 1 11 9 "Waihi Grand Junction 0 10 0 0 10 8