NAPIER WOOL SALE.

Press, Volume LXI, Issue 18545, 21 November 1925, Page 12

NAPIER WOOL SALE.

CONTINENT CHIEF BUYERS. VALUES NOT EXPECTED TO HOLD. U"KM3 ASSOCIATION TILZGEA.II.} NAPIER, November 20. The first Napier wool sale of the season was held to-day, when 14,3£0 bales were offered to a representative bench of buyer?. The wool, owing to the adverse v,'inter, was very murh below par. especially hogget wool, which was 7>artie'ularlv short and tender. Wool from older sheep, although short, was bright and light in condition. The clip this year is quite 21b per sheep lighter. Bidding was slow and somewhat crintir, and it is hard to account for some of the prices obtained. Bradford was doing next to nothing, and it was the Continental section which forced the pace for average class wools. Bradford limits were a penny to twopence **uder Continental. American. buyeTS lifted a fair weight of super lots, suitable to their requirements. Crutchings sold exceptionally well, prices for these being, in comparison, the dearest of the day. New Zealand mills and scourers were very quieL Generally, prices were a little better than Wellington, but those in the trade are inclined 1o the opinion that the present rates will not rule throughout the season. The absence of Bradford competition is considered to be ominous, and when Continental buyers have filled their orders, Bradford again will come into the market, but at prices more in keeping with their ideas cf value, which are not equal to those ruling to-day. The range of prices was as follows:

NATIONAL INSURANCE CO. .* -* :• v' _ ■' ... SHAREHOLDERS WANT DISTRIBUTION OF PROFITS. . (SPECIAL TO "THE PBXS3.") DUNEDIN, November 20. At the annual, meeting of the National* Insurance Company, the. following letter to the, directors, one of several signed by forty shareholders in all, was read by the General Manager: •'Whilst congratulating the Board of Directors of the company, on the excellent balance-sheet lor the year just ended, the undersigned shareholders think the time has arrived when a distribution of some of the accumulated profits of -, the company should be made amongst shareholders in the form of ail issue of reserve shares. We would suggest that 50,000 of the unissued shares be offered to shareholders at £,l 10s per &hare, and that the sum of £75,000 be taken from reserves, and placed to the credit of capital account; in payment of the £llO3 per share.: We do not think it necessary to go into an elaborate or long letter giving our reasons for making thiß suggestion* beyond stating that we are confident, that a large njajority of shareholders consider that the time has arrived when shareholders in this company should have some benefits from their holdings." ■ The chairman- of directors, Mr John Moloney, said that the proposal had come to hand too late to-be dealt with at .that meeting, but it would be considered by the Board of Directors before next, annual meeting, and they might have some proposal to bring ttefore shareholders then. U.S. MONEY IN CANADA. If something over two and one-half billions of dollars has been invested in Canada by . United States interests, the investment haa been & gocd one, and the collateral which the Dominion has to offer is unique in, the -world, Sir Henry Thornton told delegates c-f insurance organisations at a dinner held in Montreal on October 9th. The president and chairman of tho Canadian National Kail ways, eaid that, in comparison to the populatk-n of Canada, lees than one-half of ono per cent, of the population of the world, the wealth of the country 19 staggering. To prove his assertion, S'r I Henry- mentioned that Canada produces 89 par. cent, of the world's nickel supply, 88 per cent, of its asbestee, 85 per cent, of ite cobalt, 35 per oept. of ita pulpwood, 25 per cent, of its lumber, 20' per oent. of its cured fish, 10 per cent, of ita salver, 18 per cent, of ita oats, 12 per cent of its wheat, and 7 per cent, of its gold. These perccJitag-ee are highly significant, Sir Henry declared, snd will probably ' become more important -witli the development of. gold mining in northern Ontario and Quebso in the course of the next decade. "The insurance companies of tho United States," said Sir Henry, "have invested .of their rwerva funds, and have not been slow to recogmso Canadian fields fcr investment. There is at present over 2.500,000,000d0l of American capital placed in Canada. Of that 1,600,000, OOWql is invested in railway, government and municipality bonds: 500,000,000 dol in forests and mines, and the rest scattered. As t Canadian I van only say wo have a highly useful neighbour. "We i suffer in this country," went on Sir Henry'Thornton, "from an insufficient population, but nevertheless, w® have not done so badly. From 1901 to 1911 the population increased something over 34 per cent., and in tho next deeade nearly 22 per cent., while in thai time -it increased nearly 15 per cent In tha United States." THE CARBIDE INDUSTRY. The Premier of Tasmania, Mr Lyons, intends to . approach the Commonwealth Government for an adequate protective tariff for the Tasmanian carbide industry. The Electron* Works, it is stated, can produce enough carbide .for the whole of Australia. Protection is wanted to enable the product to be offered at such prices that will gain markets now being'held by overseas producers who can . land carbide in - Australia at present at £26 per ton.. ' * It is believed that the Stats Government | will continue to ran the industry it satisfactory tariff arrangements are made. Recently tenders were called for the purchase of the works, but the only response -wa? an offer from the shareholders of the original earbide company, and - this was not acceptable to the Government.

d d Down— ,, Super 10 to IS Medium Halfbred — Average — 171 Coarse' Half bred— Super © 00 Average 14J t.o 3 7} Inferior .. '12* to 14J Corricdale— Average ' .. 17 to. 181 Fine Crossbred— Super 16 to 10 Average 13i to inJ Inferior . . ... 111 to 12Medium Crossbred — Super ... ' ., 14ito 105 Average to 141 Inferior 11 to 32-5 Course Crossbred — Super '.131 to ir, Average .. 11J to 111* Inferior 7 to 111 Low Crossbred— Super — 23?. Average Hi to 12J Inferior ., , . .. .61 to 11 Hoggets16" to .20 Super v ' 15 to 19J Medium' 14.J to 18 Coarse 121 to 16 Low .. .. 11 to 134 LambsFine • .. • ... 12 to 16| /Seedy and inferior •• 6 to 12 Bellies and' Pieces : — — 'loi Halfbred, good to super Crossbred, good to super i2 to m Low-to medium 7 to 11 Cratehings— • 9, to 1.15 . Medium to good Inferior arid seedy . 5 to 7% Locks — Halfbred .. ». — •' 7-J Crossbred ., .. - • • 5 to 6i