BRITISH WOOL TRADE.

Press, Volume LXI, Issue 18567, 17 December 1925, Page 10

BRITISH WOOL TRADE.

LABOUR VIEWS. _____ (BT CABLE—PRESS ASSOCIATION—COPTB.IGHT.) (AUSTBALIAN AND X.Z. CABLS ASSOCIATION.) (Received December 16th, 5.3 p.m.) LONDON', Deeemuer 15. Mr Ben Turner (Labour -M.P.), giving evidence at the Board of Trade enquiry, opposed the protective duty on worsteds on behalf of twenty textile trade unions. Instead, he advocated Government or co-operative buying of raw material. It might then be possible to run the trade profitably. State buying, he said, had been tried (luring war-time with beneficial results. Why not now? he asked. Fluctuations in wool values did more damage to the stability of the trade than any competition. His.proposal aimed at keeping pr'ces steady. The Government should buy Empire wool. Eventually the League of Nations conic? create machinery for negotiations' between producing and' consuming nations. Tariffs were irritating barriers. Tf we did not buy goods from abroad we could not sell abroad. Employers were not making an attempt to discuss with the unions methods for improving the trade excent bv tariffs.

SAWMILL DISPUTE SETTLED. (special TO "the press.") GREYMO-UTH, December 16. For the past few days negotiations have been proceeding between Messrs Waller and England and the executive of the Westland Timber ' Workers' Union regarding the dispute at Aratika, which has resulted in the Aratika sawmill .being closed-down for sixteen weeks. It is reported this evening that an amicable settlement has been reached and, the mill will resume operations within the next few days. AUCKLAND MARKETS. (srsciAi. TO "the press.") AUCKLAND, December IG. Eggs—Tho price is unchanged-at 2s 2d retail far hen eggs, and 2b for duck eggs, wholesale quotations being 3s 10d to 2s. The demand is very keen, both for household use and also fofc linkers, the latter being- short of their probable requirements for the autumn and winter season. Produce merchants report rather quieter trade-, as at this time of year the larger propeirtion of the daily requirements begin to go through tho auctions, detracting from the ordinary trade ex warehouse. There is •also the consideration that for the next three or four months thousands of householders will be drawing upon their own gardens, orchards, or fields instead of depending upon shops, auctions or warehouses, through which bulk of their supplies are obtained during the rest of the year. Potatoes —Prices are a little uncertain at Pukekohe, where quotations htve ranged up to £lO or £ll, and yet very good samples have* so'd at auction at as low as £8 10a. This week the market seems a 'ittle stronger again but the uncertain factor is whether the growers will dig ail they can before the holidays or leave'their crops in the ground to endure- all- -risk of second growth. Rain ; is, badly ' needed f almost everywhere, but if it is likely to come in at all heavily.in the potato districts during the next i fortnight, ■ growers would rather have tb'eir'potatoes out of-the ground, even if they- are not perfectly ripe and get the new crop planted to catch 'the rain that alw&ys seems to coin© during the last week year. The second crop that is already planted is doing very well, Pukekohe Hill be ( ing..& wonderful eight 'at present, but it -would dp all the better with a good soaking. Onions—Morchants account themselves fortunate that they cut their indents short by th«_ Aorangi last' week, for thsro i« ©very indication that new crop -will fce on the. market much earlier than usual this year. It may not be a ipartnularly heavy one, for there was hardly enough rain even for onions, a'crop which thrives with very little superfluous moisture, hut the recent very dry weather seems to have made it stop growing, »nd it is now rapidly ripening off. Imported onions are a little weaker and holders are only asking 29s 6d iper orate. Oats—The market is unchanged at 5s 9d to 6s 3d ex store for good feed, but there is to local Bpecnl-non, as it is known that Caiiadiap will be here next week. Chat— T*ie market is steady but the demand is altogether small. Southern is commanding all the business at 30s to lis, but there is little sals outside the city.

BURNSJDE MARKET. (PBISS ASSOCIATION TILIOBAK.) DUNEDIN, December 16. Comparatively speaking, there was a dull market at Burnside toniay, all classes of stock receding in value. Fat Cattle—There was a yarding' of 334 head of fat cattle, compared, with 228 head last week. There was a fair proportion of fair to prime bullocks and heifers, and the usual number of unfinished cows and steers. The demand opened at somewhat under last week's rates, and a further reduction took place before the close, beef receding from 3s 6d to 7s 6d per lOQlb. Prime handyweights ox beef made from 42s 6d to 44s per 1001b, medium quality and handy-weight ox from 37s 6d to 40s, prime heifers to 355, and cows and light heifers from 27s Gd to 32s 6d. Prime bullocks made from £lB to £2O 10s' lighter from £l4 to £l6 ss; heifers made from £7 15s to £lO 15s, and cows from £7 10s to £9 10s. Fat Sheep—There was an entry of '2229 head, compared with 2396 last week. The selection was very fair. Medium-weight sheep were in good supply, and there was a fair number of ewes, together with a moderate entry of heavy prime sheep. The demand opened at prices much the same as those last week, but the market became decidedly weaker towards the end, and a good many pens were passed in unsold. ■ Compared with the opening rates, prices were own about 2s per head,' or from 2s to 3s compared with last week. Prime handyweight wethers sold at from 5Jd to 6d per lb, heavy-weights and medium quality wethers from aid to sjd, prime ewes 4}d to 4Jd, and aged and light ewes to 4d; extra prime heavy wethers made up to 44a, prime heavy 36* to 40s 3d, lighter 31s to 345; heavy ewes sold at from 28s to 32s Gd, lighter 25s to 26a 9d. All were shorn except about a truck lot. Lambs—There was an entry of 342 head, compared with 172 last week. The quality was fair to good. Prices were considerably oasier. Prime lambs made from 33s to 35s 9d, medium 28s to 31s, light 24s to 26s 6d. Prime lamb was worth from 9d to 9Jd, second quality to 9d, an unfinished to BJd. Store Cattle—About 200 were yarded, chiefly cows and heifere, with two or three pens of medium steers. The sale was dull, and some steers passed at auction, though they sold privately afterwards. Tho cows were a good lot, but prices for them were easier. Pigs—Theje were 153 fats and 65 stores. Fat pigs were down at least 5s per head.

ONIONS AND POTATOES. WANTED BY CANADA. At present New Zealanders from the North Cape to the Bluff are largely dependent upon Canada far the onions they need until the new local crop is available, but it would appear thai these onktis are only lent. In other words, the Empire's greatest Dominion will be short of both onions and potatoes later on. Mr Gordon Fraaer, president of the Taranaki Chamber of Commerce, stated last week that Canada offers a potential market thia coming: year for both the lines mentioned, adding: "Vancouver is a buyer of two or three thouani tons of the former, and about half the quantity of the latter if price and quality are satisfactory." LAUNCESTON LOAN. (Received December 16th, 5.35 p.m.) LONDON, December IG. The "Financial Times" dates the Launcotton iaaite has been covered.

GEAR MEAT CO. ANXIOUS YEAR BUT BIG PROFIT. (PMS3 ASSOCIATION TXL*GB Alt.) WELLINGTON", December 16. The Gear Meat Company, one of the few Tery successful freezing- companies in NewZealand, the shares of -which are still at a high premium, heid its annual meeting today, when, notwithstanding the bad times the freezing industry Ires been passing through, it was able to present a highly satisfactory balance-sheet. Last year share-' holders received a very handsome sum in the distribution of Government inscribed stock held by the company; the reserve accounts on the one side and investments on the other were reduced by i' 460.000. and the income by the amount of the interest thereon. Notwithstanding these alterations, the financial condition of the company, as revealed by the statement of assets and liabilities to-day. the chairman stated, was exceedingly -strong, and the reserve fund had been recreated by a substantial addition from this year's profits. It was agreed to pay an interim dividend 0"f Is l»d a share (less a dividend of sixpence paid in June), and in addition a bonus of :jd per share. WOOL. (HI CABLE—PRESS ASSOCIATION"—COrVRIGnT.) (At'STP.ALIAN' AND X.Z. CABLE ASSOCIATION.) (Bccoived December 16th, 5.5 p.m.) LONDON. December 15. "VWjI Sales—The market continues firm on a lower bas;s, with kc-.-n interest for yood merinos and ail classes of crossbreds. BIUSBANE, Decem'iM- 16. The final series of \v:x>l sales tor the year has commenced. Prices for best description wools were 5 to 7.{ per cent, and for average, and inferior wools 10 per cent, lower than at the November scries. GOLD. (Received Dcccn\l/er 16th. 5.5 p.m.) LONDON, December 15. The price of geld is quoted at Sis lid per ounce.

SHARES. (Received December lGth, 5.5 p.m.) LONDON, December 15. Banks-Australasia-, £l3 12s I'd: New South Wnlcs, £4l 5s (ex div.); Union, £l4 355; National of New Zealand, 137s VA; New Zealand, £9l 03 and 55s Od; New Zealand Loan and Mercantile, £73 10s, £99. STOCK EXCHANGES. (PBE3S ASSOCIATION TBLEGBAMS.) AUCKLAND, December 36. Stock Exchange Sales—New Zealand Inscribed Stock (1938), £96 ss; Soldiers' War Lean, Inscribed, £99 10s; New Zealand Breweries (debentures), 25s (two sales); Union Bank of Australia, £l4 193; Auckland Gas, 23a (two sales); Kawarau, (is Id and 6s. WELLINGTON, December 10. Sales —Union Steam XI 0s fid. DUNEDIN, December 16. Sales on 'Change—Kawarau, 6s (11 parcels); Blacks Gold, 4s (prom.) (2 sales). Sales Reported—Malay Rubbers, 53s (3d; 4?. per cent. Bonds, (1938), £96 5s (single Bonds £500); Smith and Smith (prcf.), 19s; Waihi, 23s 6d. SUN NEWSPAPERS, LTD. (press association teligram.) AUCKLAND, December 16. Sun Newspapers, Ltd., a new company formed to acquire the "Sun," Christchurch, and to publish another evening paper in Auckland, was registered on Tuesday. The provisional directors met yesterday, when Mr Robert Burns was appointed chairman. It was announced that the share subscription had exceeded the minimum of 75,000 required by the prospectus, and applications to date wore allotted in full. It was decided to acquire a suitable site for offices forthwith, and to place orders abroad for the necessary printing plant.

Messrs Chilwell and l Trevithick were appointed architects. The appointment of Mr E. C. Huie as managing' director was confirmed.