FINANCE AND COMMERCE

Press, Volume LXIX, Issue 20979, 6 October 1933, Page 13

FINANCE AND COMMERCE

#OOI MARKETING \ & &m IMPROVEMENT IN TRADE AUSTRALIA'S INCREASED INCOME C 'j ■ -.„ PRESI ASSOCIATION-- BY ZLZCTRIC (Received October 5, 7.10 p.m.) BUDAPEST, October 4. Tt is understood that M. Dubrulle |„ hi presidential address at the Woo rJrfertnce. said he was convinced that 22 in the wool and textile trades had definitely improved. 7. he reduced quantities reaching the marjet iwuld inevitably keep pr.ces at a reasonable lever, assuring growers of a betetr livelihood after three disfnumflil yews. If Australia's new Stoa&itained the September aver- J ?M.return would be £50,000,000, ££i[with £37.000.000 in the 1931-1832 season. . , . ; Tt hid never been in consumers' in- j terest* that the value of raw material , Sd fall to vanishing point, as it wouW ted to the impoverishment, if S the extinction of flocks Nevertheless it was undesirable that values Sould'rise exorbitantly, or conditions relapse into past extravagances, or by forced substitution it would again t«.-m the ore-eminence of rags and Ss A reasonable stable level ym the foundation of general prosperlt3 r'rt relation to protests against Austra an proposals to fix minimum S and "the question of draft alWance*. action \>y the International SSn and th/ British Wool Fod- ] iratioS is expected. Mr W P. Devereux, representing Australia, said that Japanese dumping j had be® discussed by a committee, < which reported that Japanese exports te the fl«t B«* months ot - 19 1 3 were five times greater than in the same nlrindin 1931. The increase could fc attributed to cheap labour and the ferSiOn of the yen Speakers arohi&ed the impossibility of counteXmres. The conference decided to issue a brochure on the subreport drew attention to the impossibility of a customs union in the the prevailing'ls token pounds. Unjustifiable Claims. Discussing the matter of unjustifiable claim! the British delegation expressed the opinion that the everincreasing difficulty of customers makclaims, particularly m relard to scoured wool deals, contributed much to the present instability of prices. The British delegation wopoKd that the first time a customer made S unjustifiable claim he should be Disced on a grey list. If repeated, t effimte should be placed on a : back fet, and his name then made wblic - to the entire wool trade. The • conference toOk no action. ' On a question of interest to Austra-lia-namely. complaints of frequent thflrt weight—the conference declined toWAwUon on the British Wool Mention's proposal that scrutineers ffite.appointed by the Victorian and loath- Australian Wool Buyers Association. . . , . ~\,t n ■Another question involved the limns, within which claims may be made, Mr Henry-. Ayrton. British delegate, explaining- that the object was to limit claims m cases where an obvious mistake: had been made. The conference resolved that the matter should oe threshed out in London between representatives of British buyers and Australian sellers. The hope was exwessed that the conference would not again be faced with the problem. CHAMBERS OP COMMERCE Preparations for the hoiling of the annual conference of the New Zealand Associated Chambers of Commerce in ■ Wanganui on October 26 and 27 are in the hands of the New Zealand secretary and a committee appointed by . the Wanganui Chamber. At Dunedin last year there were 35 delegates present at the conference, but it is expected that there will be 40, or more, at the fathering in Wanganui. It is probable that many of the delegates will stay over the week-end. Arrange-

menis to entertain them are being , made by a committee consisting of Mtesr* A. S. Burgess (president), A. E. Rankin (vice-president), W. J. Gilbert!, I Williams, and H. E. Zieslcr. A motor drive has been suggested for M Saturday (October 28). Visiting delegates ere lo be presented with an illustrated -publication dealing with vwanganul. NEW ZEALAND MEAT KETAIL PRICES IN LONDON The New Zealand Meat Producers' Board has been advised by its London Stager that the following retail Prices were being quoted for New Zealand lamb and mutton retailed in London during September. These Erw represent a fair average of the Wees quoted by the better-class shops ffi London for the best quality of New Zealand lamb and mutton:— Per lb New Zealand Lamb- d. .. .. 12 Shoulders .. .. .10 Lotas .. .. .. 9A Necks ~ " " c" Breasts .. " !.' 3 forequarters' '. " 7.'. k Hindquarters .. .. 10 T , flew Zealand Mutton (Wethers)— Legs 8i Shoulders ',' " " 7~ Loins . " "7 : Necks \ . " "4 Breasts .. '.'. '.'.2 DAIRY PRODUCE , A. H. Turn bull and Company, Ltd., nave received a cable message from « e ir principals, Messrs J. Weddel and J-.ompany, Ltd., dated London, October J butter 10 °s. New Zealand iin- ■ lo3i ° 102? ' Austr a ] 'an 101s to The butter market is stagnant. Bft.-, Zealand cheese, white 40s to 49s to 50s. ■ v A «ie cheese market is stagnant. tiftl ew Zeal and Loan 'and MercanSii e ;'7 Co - Ltd.. has received a .■'■' 2rw n v from its London office, under f giving the market c i uo " : S s ,2 s below:— ■■ ; Btto? e sßP d dairy Pwduce:OhS?*""" 1 , 00 , 3 t0 102s - Very slow. ■■ ~ ,ff' Very slow. ttd^w" 111 Island Dail T Association, ■■WwSS * "«ived the following mar,m report from the New Zealand Prolutw^tlon - Ltd > London:— : ' ! Jfli- fw" 1 ™ 6 m arket is quiet. Finest ssfeiS? tß i2 B: Danish UOs - market is quiet. White sgs* ,- col °ured 50s to 51s.

SYDNEY WOOL SALES MARKET VERY" FIRM LATE RATES SUSTAINED (CKITEB PIWSS A9SOCIATIOK—ST ELISCTIUC T*MSQ*APH—COI'TBIOHT.) (Received October D. 11.20 p.m.) SYDNEY, October 5. At the wool sales 12,722 bales were offered, 11,450 sold, and 1126 disposed of privately. The market was very firm at the previous day's levels for all descriptions. Competition was well sustained, and good clearances were effected. There was very keen enquiry for comebacks and crossbreds at late rates. Greasy merino made 22d for eight bales from Gurley. LONDON SALES GOOD COMPETITION FOR MERINOS _j CROSSBREDS SLIGHTLY EASIER LONDON, October 4. A 1 the London wool sales 11,452 bales were offered, including 5182 from New Zealand, and about 8190 were sold. There was good competition at full late rates for all good merinos, but inferior sorts and crossbreds showed an easier tendency. There were some withdrawals. Australian sales —Merino, greasy. New South Wales, 14Jd; Queensland 151 d, Victorian 19Jd; scoured. Queensland, 28d. South Australian 24d. New Zealand sales—Scoured merino, Oxford, top 23?. d, average 224-d; greasy crossbred, Whekau, top Hid, average M. SKIN SALE FARMERS' CO-OPERATIVE ASSOCIATION The New Zealand Farmers' Co-oper-ative Association report as follows: At the sale of sheepskins yesterday, there was a decided drop from ?d to Id per lb for all dry skins and from 9d to Is a skin for all abattoir skins. It was generally expected a slight easing would be noticeable this week. Values were as follows: —

MERINO. Three-quarter to full wool — d. d. Sound • • 9.1 to 9? , Dead and damaged .. to 5 HALFBRED. Three-quarter to full wool— Sound .. .. 9.1 to 91 Dead and damaged .. 7J to 8 Quarter to half woolSound • • 3J to 6 Dead and damaged .. 4J to 5 Hoggets— . , ~ Sound • .. 8 to 8i Dead and damaged .. 7 to 8 THREE-QUARTERBRED. Three-quarter to full woolSound •. .. 7 to /•; . Dead and damaged .. 5 to 3.« Quarter to half woolSound .. J to 44 Dead and damaged .. 3 to J* CROSSBRED. Three-quarter to full woolSound .• •• 41 to a Dead and damaged .. 3Ji to 4 Quarter to half wool — Sound • • »J to 4 Dead and damaged .. 2 = to J HALFBRED. LambsSound .. •• H to 6 Dead and damaged .. 4£ to b Seedy and inferior skins, proportionately lower; sound and damaged pells proportionally lower. Green Skins—Halfbred, 5s 6d to 13:; lOd; threc-quarterbreds, 4s 8d to 9s: crossbred, 3s 4d to 6s Id; lambskins, Is 2d to Is lid; shorn pelts, 4d to 7d. NATIONAL MORTGAGE AND AGENCY COMPANY The National Mortgage and Agency Company of New Zealand, Ltd., report having 'held their weekly skin sale yesterday. There was a full bench of buyers present, but competition was not keen and prices dropped considerably on last week's levels. All drv skins were down id to Id per lb, ana green skins were down 6d to Is a skin. The following is a range of tnc ruling prices:— Halfbred— cl - .£• Sound .- •• . to 10 Faulty « •• .. a to 8, Three-quarterbred— Sound • • •• „, t° \i Faulty ■• .. 2.1 to 4J Crossbred — Sound • • • • 2$ to 4, Faulty •• .. 3 to 3.-; Halfbred hogget— Sound -• •• ,}o ui Faulty .. o to 8, Three-quarterbred— Sound •• •• to fa Faulty .. ■• to i-. Pelts— , .. Sound ■• .. to li Butchers' abattoir green skins:— Halfbred— s- <*■ t s- <*■ Extra good .. to 14 U Medium .. o Inferior .. 4 0 to 6 0 Three-quarterbred— Good - to 9 0 Medium •• <* J> to 7 fa Inferior •• 3 9 to 5 0 Crossbred— . Good •• a 0 to 5 6 Medium •• jj 7 to 4 fa Inferior ••. 2 ° to I J

Halfbred hogget— Good •• - p 1° ? 2 Medium •• ■> 6 ( to » » Inferior •• <2 4 to .J 9 Three-quarterbred hogget— Medium ■• ? * J° ? 2 Lambs •• 1 4 to 1 6 Pelts .. 0 3 to 0 0 PYNE, GOULD, GUINNESS, LTD. Pyne Gould, Guinness, Ltd., held their usual weekly sale of sheepskins yestcrdav. Although green skins sold very nearly on a par with last week s raits, dry skins dhowed a big drop, being from 2d lo 3d per lb down. Practical!" the whole of the catalogue of drv skins was withdrawn. Best butchers' skins sold up to 12s lOd each. BLUE PEA STANDARDS SET At the request of the Australian aqd New Zealand Pea Association of London, the produce committee of the Canterbury Chamber of Commerce has added to its usual standard samples a blue pea standard. There was some difficulty, owing to the smallness of the area in blue peas, in making up a satisfactory standard, but those difficulties have been overcome and the committee reported at last nigntJ, meetinc Of the council of the chamber that samples of round blue peas No 1 and f.a.q., were dispatched to the London Association by the Port Hunter this week.