DUNEDIN WOOL SALE.

Press, Volume LXVI, Issue 19971, 4 July 1930, Page 14

DUNEDIN WOOL SALE.

GOOD CONTINENTAL DEMAND. (PBESS ASSOCIATION TELEGRAM.) DUNEDIN, July 3. A supplementary wool sale was held to day, when the associated Dunedin brokers submitted catalogues totalling approximately 2500 bales. The bulk of the offering comprised fleece wool and pieces, chiefly late shorn, and including a fair proportion of crutchings and also a number of clips which had been withdrawn or held over from the main sales. Generally speaking the quality of the offering compared very favourably with that of the April sale. There was a good attendance of buyers, but competition was restricted to comparatively few. Bradford buyers were quiet, and the bulk of the competition came from the Continent, with good support from local mills for lines suitable for their requirements. Prices were not up to the rates ruling at the Wellington sale held last month, and passings were fairly frequent. Compared with the last Dunedin sale in April, prices for crossbreds were unchanged. Pieces and bellies were very firm, whilst super halfbreds were fully jd lower. Averago to good sorts were par to slightly easier. The following is the range of prices:— d. d.

DAIRY MARKET REVIEW.

IMPROVEMENT IN LONDON. An improvement in the London butter market was commented upon by Mr W. Goodfellow, managing director of Amalgamated Dairies, Ltd., in his monthly statement to the suppliers of the New Zealand Co-operative Dairy Company, Ltd. He said the market had maintained the improvement noted during the previous month For a brief period quotations relapsed to 128s for New Zealand finest owing to the anxiety of the Danish and Irish interests to keep their stocks moving but since then the market had developed more strength consequent on Danish following the upward movement of New Zealand butter which developed toward the middle of Jun°New Zealand finest was quoted at Idbs and with Danish kept well cleared, and a gradual decrease of Southern Hemisphere arrivals, there was reason to hope that the danger of a further break in the market was now over. Stocks of Butter in London. Mr Goodfellow said it was unlikely that there would be any spectacular upward movement. Stocks of all buttors held in London on June Ist were estimated to amount to 26,000 tons, compared with 23,000 tons on June Ist. last year and 22.000 tons on Septemfcet Ist, 1929. The increase in stocks was not of great moment, particularly as the European production did not appear to bo as heavy as last year. On the other hand, the quantity of New Zealand butter afloat in store o;i June Ist amounted to 18,533 tons, compared with 8279 tons last year. Present production however, was slightly lower than last year and considerable quantities might be shinped to Canada during the next two or three months. Indirectly, New Zealand would be materially affected by the increase in duty on milk, cream, and casein imported into the United States of America- A very large border trade has been enjoyed by the Eastern Canadian provinces in. the two former products, but this tariff increase would, Mr Goodfellow believed, practically prohibit their entry into the United States. This milk and cream would in future be manufactured into butter and. cheese, thereby, as far as butter was concerned, shutting out an equivalent quantity of New Zealand butter. The Outlet in Canada.

A substantially-reduced outlet for New Zealand butter in Canada during the coming season was anticipated. It was now possible that the Canadian Government would reconsider its decision to increase the duty on New Zealand butter from id to 2d per pound. In the past the United States of America had imported large quantities of casein from Argentine for huge paper and paint industries The new duty would largely debar the Argentine product, which would, therefore, be thrown on to the European market and thus materially affect the returns even for the highest-class products from the Waikato. Mr Goodfellow said he made no apology in urging dairy farmers to buy British goods and thereby help to build up a market for New Zealand's increasing quantities of dairy produce. F.o.b. business had been in evidence to a small extent, factories taking Is Md f.o.b. for shipments afloat and Is L2d for June-July shipment. The company's quotation for finest remained at Is 2jd net f.o.b. Continuing, Mr Goodfellow said the improved prices for cheese reached early in May were not sustained and quotations slipped back to 77s and 78s, Fortunately, a firmer tone . developed latterly, and as the statistical position was sou nil, there seemed no reason why the improvement should not be maintained.

TAXATION IN AUSTRALIA. DOUBLED IN TEN YEARS. In the course of comments on the heavy taxation burden in Australia, a Sydney correspondent says:—' 'Figures prepared by experts show that during the last 10 years taxation, Federal and State, has doubled. Whereas taxation 10 years ago aggregated even then so many millions as. to be hardly comprehended by the ordinary understanding, the sum now is almost twice as much. Taking these facts into consideration, ln _ conjunction with heavy mupicipal and allied levies, some people wonder whether it is any use struggling further. "A statement published by one thus hard hit stirred the city. He, has a business which employs 20 hands, and for years he has not drawn more than a member of his staff, though he has worked longer hours and borne the worries of the business. He says that he is 'through.' The figures he gives of Federal and State taxation as affecting him, of municipal and Water and Sewerage Board and Main Ronds Board rates, and other incidentals. show that he has been working, not for himself, but for Governments and local governing authorities. "The levy of 3d in the pound imposed by the Stat* to unemnloyment, • which is not yet payable, is the- last addition to the burden that justified this man in 'quitting.' " . ,

TIN SUPPLIES. LONDON, July 2. Supplies of tin are:—Visible 42,459 tons, spot 1971 tons, afloat 2025 tons, deliveries 3151 tons.

Halfbreds — Good to super 10 to 12 Low to medium 8 to 91 Fine crossbred — n Good to super 9 to Low to medium 8 to 81 Medium crossbred — 8J Good to super Low to medium 8i to 7 to 8 Halfbred — 8 to Necks and pieces 9 Pieces and bellies 5i to n Crossbred — 64 to 8i Necks and pieces Pieces and bellies 4i to 6 Crutchings —■ Halfbred 5 to 6 Crossbred 5J to 7 Inferior and Seedy 3i to 5 Locks and stained pieces 3 to 4J