IRON TRADE.

Press, Volume LXI, Issue 18548, 25 November 1925, Page 10

IRON TRADE.

GLOOMY PROSPECTS IN N.S.W. (»T CA3LI— MESS ASSOCIATIOK—COFTBiaMT.) (/.CSTEAJ.IXN ASD N.S. CABLE ASSOCiATIOH.) SYDNEY, November 24. The president of the Metal Trades Employers' Association., addressing a meeting of the association, said that the present position in the engineerin?: and iron trades generally was verv serious. For some years past the industry iiad beeft suffering from lack of orders, due mainly to importations from abroad. Some sections had expected to 'benefit- from- the recent tariff amendments, but almost before any resuit from the new tariff couid be felt, the State Government introduced the 44-hour.s week, which placed the industry in a critical position. "The Govern men: has no mandate to destroy private enterprise.'' concluded the-speaker, "nor to socialise industry, hut then 1 can be no other interpretation of the legiilacion the La.ng Government is passing.'' RUBBER SHARES. EXCITEMENT ON STOCK EXCHANGE. (AUSTRALIAN AN"O X.7.. CABI.K ASSOCIATIOS.) (Received November 24th, 7.3-5 p.m.) LONDON. November 23. The rush to buy rubber shares on the .Stock Exchange this morning resembled a Rugby .scrummage as the brokers tried to execute orders. The demand slackened later and prices eased somewhat. HIGH COMMISSIONER'S REPORT. The Department of Agriculture has received the following cablegram, dated the 21st inst., from the Jligii' Commissioner for New Zealand, London: — BUTTER. Market steadier, little more business being done. Official quotations are: — New Zealand: Finest suited; fresh landed. November 21st —20fis to 203s per cwt Us lOd to Js Josd per lb). November 14th—204s to 208s per cwt (Is 9Jd to lslOid per lb). Unsaltcd. November 21st —208s to 219s per cwt (Is 10id to Is IOJd per lb). November 14th—204s to 208s per cwt (Is 9|d to Is 10} d per lb). Other qualities. November 21st —19os to 200s per cwt (Is 9d to Is 9id per lb). Australian: Salted. November 21st—194s to 198s per cwt (Is BJ(t to Is 9Jd per lb). November l'4th—l92s to 200s per cwt (Is Sid to Is 91d per lb). Unsalted. November 21st—192s, 1965, up to 200s per cwt (Is BJd, Is 9d. to Is 9Jd per lb). November 14th—192s to 200s per cwt (Is Bid to Is 9Jd per lb). Other Qualities (Salted and Unsalted). November 21st—160s to 190s per cwt (Is 5d to Is BJd per lb). Argentine: Unsalted.

November 21st—166s to 172s per cwt (Is 5Jd to Is 6Jd per lb). November 14th—172s to 176s per cwt (Is 6Jd to Is 6Jd per lb). Other Qualities. November 21st—160s to 164s per cwt (Is 5d to Is 5Jd per lb). Siberian. November 21st—162s to 172s per cwt (Is 5Jd to Is 6Jd per lb). November 14th—168s to 176s per cwt (Is 6d to Is 6jd per lb. Exceptional 176s per cwt (Is 6Jd per lb). Danish (Slow). November 21st—218s per cwt (Is lljd per lb). November 14th—214s to 216s per cwt (is lid to is Hid per lb). CHEESE. Pair trade. English finest farmers (steady) : November 21st—140s to 145s per cwt (Is 3d to Is 3Jd per lb). November 14th—140s to 145s per cwt (Is 3d to Is 3*d- per lb). Finest Canadian (Coloured and White). November 21st—114g to 116s per cwt (la Old per lb). November ]4th—llss to 118s per cwt (lg Old to Is Oid per lb). (Exceptional 118s per cwt (Is Old per lb), according to make. Finest New Zealand (Coloured and White). November 21st —114s per cwt (Is Old per lb). In small supply, shipment per li.ualiine arrived this week. HEMP. Manila market opened quiet and unchanged. Market closed firm. "J" grade sold afloat and January-March shipments £43 buyers. Sisal market firm. No. 1 Tanganyika sold afloat £46, for shipment £45 10s. New Zealand market little better. Sale reported Highpoints, OctoberDecember shipments £39, now quoted Novem-ber-January shipments £39 10s sellers. WOOL. Prices for tops firm, but business restricted in view London sales next week. Present quotations are:—64's (warp) merino 4s 8d; 64'b (average) 4s 6d; 56's (super halfbred) 3s 2d; 50's (halfbred) 2s 8d; 40's (prepared) 3s o}d. TALLOW. Spot market steady. Present quotations are unchanged with the exception of:— Mutton—Dark to dull, 41b to 41s 9d per cwt. Beef—Sweet and/or mixed, 44s 6d to 46s 6d per cwt. FOREIGN EXCHANGE RATES. (»Y CABLE—PBESS ASSOCIATION— COPTBIOBT.) (AOTTBAUAJf and x.z. cablx association.) LONDON, November 23. The exchange nates are: Par. N0v.19. Nov. 23. Paris, fr. to £1 .. 25.224 122.37 124.67 Brussels, fr. to £1 ... 25.224 106.90 107.35 Oslo, kr. to £1 ~ 18.159 23.87 23.80 Copenhagen, fcr. to £1 18.153 19.43 19.46 Stockholm, kr. to £L 18.159 18.10 18.10 Berlin, Beichmarken

to dBl .. .. Montreal, dol. to £1 4.86J 4.84 4.84 New York, dol. to £1 4.85* 4.84g 4.84 7-16 Bom*, lire to £1 .. 25.22J 120.75 .119.62 Yokohama, Bt. to yen 2.68 21 1-18 ' 21$ Calcutta, at to rpe 10 to gold £ 18 3-16 18 3-16 Hong Kong, at. to dol * 28J 281 Amsterdam, fl. .. 12.107 d 12.04 12.04 BetaTia * Governed by price of eilver.

BRADFORD TOPS. (Received November 24th, 10.15 p.m.) LONDON, November 23. The Bradford tops market is easier, with quotations in buyers' favour. There was fair enquiry for merinos, but crossbreda were quiet. metals: (Received November 24th, 0.35 p.m.) LONDON, November 23. Copper—Spot £6O 8a 9d, forward £6l Se 9d per ton. Lead—Spot £36 10*. forward! £35 17s 6d per tori. Spelter—Spot £3O Is 3d forward £3B 3s 3d per ton. Tin—Spot £287 *s 6d, forward £2Bl ]2s Gd l per ton. Silver —Standard, 32 3-16 d, fine 34id) per oa. WHEAT. (Received November 24th, 9.35 p>m.) LONDON, November 23. Wheat cargoes opened a shilling firmer on the American advance, but buygjs held off in the belief that the Argentine reports of damage are Parcels similarly closed on Saturday's, basis. Liverpool futures—December lis 6Jd, March lis 3Jd, May 10a Hid per cental. SOUTH AFRICAN LOAN. ("laavt.") LONDON, November 23. A prospectus has been issued for the Union <rf South Africa's £4,000,000 five per oentr loan, to be issued at £99 10b.