SYDNEY SALES

Press, Volume LXIX, Issue 21020, 23 November 1933, Page 13

SYDNEY SALES

VALUES VERY FIRM STRONG DEMAND FOR BEST QUALITY SKIRTINGS (UNITED PRESS ASSOCIATION—BT ELECTRIC TELEGRAPH —COPYRIGHT.) (Received November 22, 11.10 p.m.) SYDNEY. November 22. At the wool sales 13,325 bales were offered, 12,985 sold, and 380 disposed of privately. There was keen general competition, and values were very firm. The featura was the strong demand for best classes of skirtings. Greasy merino made to 30d for 14 bales from Barraba. MELBOURNE MARKET VERY STRONG SEASON'S RECORD PRICES MELBOURNE, November 22. At the wool sales there was very strong competition and the season's record prices of 28ijd per lb for super merino and 281 d for comeback were realised. The market was strong at Monday's advanced prices. GOOD STATISTICAL POSITION AUSTRALIAN FIGURES REASON FOR HARDENING MARKET OTROM OUtt OWN CORREBPONDXHT.) SYDNEY, November 16. There is no doubt that the revised estimate of the Australian wool clip for the current season has had a great Influence on the Australian market, but the substantial increases in values recorded in Sydney and Melbourne have been due in no small measure' to the general nature of the competition. Buyers representing every section of the trade in all parts of the world have been most anxious to secure suitable lots. Not since 1928 and, nerhaps, before that, has there been such a solid weight of general competition. When high-class wools were offered in Gcelong there was surprise at the extent of the orders even from the United States. In Sydney during the last fortnight there have been sweeping clearances at all of the sales at steadily hardening prices. Values are now 10 to 15 per cent, above the top level of September, and on an average have risen about 70 per cent, compared with a year ago. They are on the highest basis recorded in Australian currency since the 1928-29 season. In that year prices were on a gold basis. Therefore, though present prices appear high in terms of Australian money, in English currency, and on a gold basis, the figures ruling do not make the staple very dear, provided the increased cost of Ihc raw material can be passed on to the consumers of the textiles. The shortage in the Australian clip compared with last year is now estimated at 400.000 bales. Last June it was estimated that the decrease would be 200,000 bales. A total decrease of 750,000 bales in the Australian, New Zealand, and South African supplies for the current 12 months makes an appreciable reduction in the quantities available for consumption. Nevertheless an average rise of about 70 per cent, in wool values, compared with a year ago, is substantial, and the hope has been expressed that over-appre-hension about supplies will not drive the cost of the raw material to excessive levels which cannot be maintained.

The latest monthly statistics of the National Council of Wool Selling Brokers are very interesting, as they cover the first four months of the season. The outstanding features are that the receipts into brokers' stores in all centres are, at 1.680,147 bales, 159,488 bales short of the corresponding period last season; that the sales to date, at 776,239 bales, arc 130,819 more than last season; and that the quantity held unsold in the stores—--892.400 bales —is 290.838 bales less than last season. The comment of one expert is: "It is a long time since we have seen wool exhibit such a remarkably strong statistical position, and il ' augurs well for tho maintenance oi current prices." FOREIGN EXCHANGES

WEIGHTS OF PRIZE-WINNING LAMBS Included in a draft ot' 77 fat lambs killed at the Kaiapoi works this week on account of Mr R. G. McClure, of Killinchy, were some prize-winners at the Christchurch Metropolitan Show. They killed out as follows: Three first prize Down cross killed. 541b 571b, 581b; three first prize longwoolled killed, 541b, 551b 571b; three second prize long-woolled killed, 581b. fi2lb 631b' three third prize longwoolled killed, 551b, SGIb, 591b The draft averaged 48:ilb on the hooks.

CHRISTCHURCH STOCK EXCHANGE YESTERDAY'S TRANSACTIONS There was a moderate turnover on call yesterday in a wider range of stocks, and prices generally were firm at late rates. Transactions, exclusive of vestibule business, were:— Sales on 'Change. 100 Comm. Bank of Aust. 016 11 5 Bank of N.S.W. .. 33 10 0 250 Goldsbrough, Mort (2) 110 0 10 Canterbury Frozen Meat (ord.) .. 10 15 0 150 Tooth's Brewery (2) 22 6 100 Dominion Fertilisers 0 15 11 200 Electro. Zinc (pref.) 1 14 3 1 14 2 300 Mt. Lyell (cum div.) 12 5 (2) 12 2 800 Bell Hooper (9d paid (2) 0 0 lli 1200 Gillespie's Beach (3) 0 2 0 ("rights") .. 0 10 (2) 0 0 11J 1000 Lawson's Flat (2) 0 0 5 1000 Golden Point .. 0 0 2 500 New Cornish Point (6d paid) .. 0 0 7 100 Waitahu .. .. 0 6 2 Saks Reported. £2OO N.Z. Loan and Merc. (ord. stock) .. 60 10 0 100 Dunlop Rubber .. 0 19 3 Commercial Bunk of Australia remained unaltered at 16s lid, sellers staying in at that price; buyers at 16s lOd. Sellers of E., S., and A. Bank shares cum dividend reduced their limits to £5 14s, buyers at £5 13s. Bank of New South Wales had business at £33 10s, sellers staying in at that figure; buyers at £33 2s 6d. Bank of New Zealand cum dividend were easier with sellers at 47s 9d. There was a closer market for Standard Insurance, which were quoted 59s 9d buyers, 60s 3d sellers. Goldsbrough, Morts were firm with buyers and dealings at 30s, sellers at 30s 3d. N.Z. Loan and Mercantile ordinary stock was easier with business and buyers at £6O 10s, sellers at £6l. Canterbury Frozen Meat ordinary shares changed hands at £lO 15s, and more were wanted at £lO 14s. Buyers of Westport Coals cum dividend raised their bids to 13s lid, sellers at 14s ad. Miscellaneous. Tooths Brewery shares had dealings at 42s 6d, and closed firmer with buyers at 435; sellers at 43s 6d. New Zealand Breweries cum dividend appeared stronger on buyers' offers 375. Buyers of British Tobaccos raised their bids to 37s 4d. Dominion Fertilisers hardened to 15s lid and more were wanted at 15s 9d. Dunlop Rubbers remained unaltered with sellers and business at 19s 3d, buyers at 19s 2d. Electrolytic Zinc preference shares were easier with dealings at 34s 3d and 34s 2d. Mount Lyells relapsed to 22s 5d and 22s 2d, market closing 22s Id buyers, 22s 3d sellers. Bell Hoopers 9d paid were a shade firmer with buyers and dealings at ll£d, sellers at Is. Gillespie's Beach changed hands at 2s, and the "rights" were taken at Is and llid. Golden Points were firm at 2d, and there were further sellers at that price; buyers at lid. Lawson's Flat were steady at sd, market closing 3Jd buyers, 5Jd sellers. New Cornish Points Cd paid were firm with buyers and business at 7d, sellers at 7£d. Waitahus were fractionally firmer with buyers and business at 6s 2d, sellers at 6s 4d.

Unlisted Stocks. Investment Executive Trust "B" debentures first issue advanced to £97 17s 6d, and £9O, and closed firm. Maerew'nenua Is paid were iirm at llid. LATEST QUOTATIONS

UNLISTED STOCKS All transactions in stocks quoted in this section are subject to double rate of brokerage and are not quoted on the official list.

SYDNEY On the Sydney Stock Exchange yesterday values displayed a tendency to weaken, but falls were about equalled by rises. Commonweal.a loans showed little alteration. Morning Sales.

BANK AND MERCANTILE STOCK (Received November 22, 5.5 p.tn.) „ , LONDON, November 21. Banks— <]. £ B< <j. Australasia .. JO 5 0 10 3 9 New South Wales 28 17 6 29 0 0 Union of Auslrali!' • • 815 0 812 6 National Hank of New Zealand 8 6.'! 3 2 0 Bank of New Zealand 4 p.e. bonds (ex in- * tcrest) . . 99 0 0 09 0 0 Bank of New Zealand shares 2 8 9 *2 2 6 Mercantile Stocks— Now Zealand Loau and Mercantile ■1 ji.c. debet)XT l " r( 'S • - 77 10 0 77 10 0 New Zealand Loan and Mercantile ord. stock . . 45 0 0 46 10 0 * Lx dividend. GROUP BUYING CONFECTIONERS' ACTION A meeting of fruiterers and confectioners was held last evening, Mr L. Daniel, president of the Christchurch Fruiterers' Association, in the chair. There was a large attendance. The chairman and Messrs E. Eldridge and R. Hilder explained the business of the meeting, the formation of a group to buy confectionery and thus secure the new trade discounts as announced by the manufacturers. After discussion the following committee was appointed, consisting of Messrs L. Daniel, E. Eldridge, R. Hilder, and W. Gibson, to make further arrangements and report to a later meeting. METALS MARKET (Received November 22, 9.40 p.m.) LONDON, November 21.

(BltmSH orncrAL, , w«elsss.) (Received November 22, 5.6 p.m.) RUGBY, Novcmbor SI. Par. iN'ov. 20. Nov. 21. larie, .fr. to ga 83 ll-o'2 Now York, dol. to £1 <1.860 i;.32 6.301; Montreal, dol. to £1 4.3(30 b.ljd 6.19 Br 05 23.33* 23.43 Geneva, /r. 2215 1B 76 j ig.83 Amsterdam, fl. l2J07 g<og j Milan, lno it 02 oJB Ci 13-16 20.-13 13.014 13.09 kr. jy.yoi 10.391 COPe t! K to n Vl 18.150 22.'10 22.40 Oslo, kr. lg _ 15;) 19.00 19.90 Vienna,jchg,. „„ rraSUC ' Zn 100.25 1094 ton H t» £ l 193.23 220S 2202 25.2215 40 40 3-32 Lisbon, escudostoXl 110 10i 308 Athens, dracli Id it 373 jij •" J 5 _ 0 25.2213 237! 2071 Km# dc .T:im;iru, pplicu to mi,rClS 4 ' 802 (nfflci.1) (omcia,) Buenos Aire.", _ pence to dol. 35.317 . ., (oflicial) (official) Montivid oo, i pence 51 .^.-V n (0^|-al) BOn,ba «: C o° » ««« 17 27 32 Shanghai, pence, j . y Hons Kong, 1 7 07 pence to dol. " 1' 17 27- u - YO pe°n(?o m toyen 21.57 14 3-32 3 4. 1-1G Warsaw, par ziotys to -1 43.36 ■ Batavia, _ . . guilder 12.10/ — *•"■•> * Determined by price 0/ siher.

Buyers. Sellers. N.Z. Govt. Debentures £ s. d. £ s. d. 3J p.c. Ins., 1938-43 101 0 0 — 0 3£ p.c. Ins., 1938-52 100 0 0 101 0 3A p.c. Ins., 1939-43 100 15 0 3J p.c. Ins.. 1939-52 100 0 0 4 p.c. Ins., 1940 .. 4 p.c. Ins., 1949 . . 102 0 0 0 0 100 17 6 101 4 p.c. Bonds, 1940 102 0 0 0 4 p.c. Bonds, 1949 — 101 5 4 p.c. Bonds, 1955 101 10 0 — Other Debentures. Napier Boro. r> : ; 99 0 0 p.c., 1/2/45 .. — Ch.Ch. Drainage 53 0 0 p.c., 31/3/38-73 101 0 0 104 Glaxo 64 p.c., 1945 90 0 0 Banks. Comm. of Aust. .. 0 16 10 0 16 11 Comm. of Aust. 0 0 0 (pref.) 8 16 9 Comm. of Sydney 17 6 0 17 8 0 Natl. of A/asia (£10 pd., cum 13 12 0 div.) 13 6 0 Natl, of A/asia (£5 0 paid, cum div.) 6 8 6 6 10 E., S., and A. (cum 14 0 div.) 5 13 0 5 New South Wales 33 2 6 33 10 0 New Zealand (cum 2 div.) 2 7 6 7 SI New Zealand ("D" Mort. shares (cum div.) I 12 0 0 Union of Aust. .. «) 12 6 10 0 Insurance. National — 0 19 2 6 New Zealand — 2 15 Standard 2 19 9 3 0 3 Loan and Agency. Dalgety and Co. 0 11 0 0 (cum div.) 10 0 Goldsbrough, Mort 1 10 0 1 10 3 Natl. Mortgage A 2 17 G — N.Z. and River 0 Plate 1 5 — N.Z. Guarantee Corpn. 0 8 3 N.Z. Loan & Mer. 61 0 0 (ord. stock) 60 10 0 N.Z. Loan & Mer. 0 (pref. stk.) 75 0 0 17 11 United Bldg. Soc. 0 17 0 Shipping:. 4 P. & O. (def. stk.) — n 1 0 Adelaide 1 4 — Melbourne 1 V 0 — Frozen Meat. 0 Canterbury 10 14 0 11 4 Canterbury (pref.) 5 12 6 6 0 0 N.Z. Refrig. (£1 0 19 10 paid) 0 19 4 N.Z. Rc'frig. (10s 0 9 0 12 0 0 9 18 9 6 paid) North Cant. Freez. 8 6 Southland 2 17 0 3 1 1 0 <1 Southland (contr.) 1 10 0 12 Woollens. Kaiapoi (17/- pd.) 0 7 4 0 8 Kaiapoi (7s pd.) 0 1 0 0 17 6 Kaiapoi (pref.) 0 15 0 Coal. Grey Valley 0 13 4 0 14 '•> Westport (cum div.) 0 13 11 0 14 5 Stockton (ord.) .. 0 0 7 0 1 — 8 9 Stockton (pref.) 0 2 3 3 Kaitangata 1 0 0 2 Gas. Napier (£10 pd.) 10 0 0 Napier (£5 pd.) .. 5 0 0 Christchurch 1 7 3 Christchurch (£10 13 0 0 paid) ~ Breweries. Carlton 2 2 0 2 3 6 Monteiths 0 9 (j 0 19 C New Zealand (cum 0 17 div.) 1 17 1 1 5 Staples . 1 7 0 8 0 Timaru (7/6 pd.) 0 4 11 0 5 11 Tooths 2 3 0 2 3 6 White Star , T ~ 0 10 0 Miscellaneous. Australasian Paper 1 13 0 and Pulp — Auto Totalisators 0 15 6 — Amalgamated Wire less (contr.) 1 0 —

Buyers. Sellers. £ s . d. £ s. d. Anthony Hordern 0 13 2 0 13 7 Australian Glass (cum div.) 2 7 3 2 9 0 Beath and Co. (Is paid) — 0 6 3 British Tobacco 1 17 4 1 17 9 British Tobacco (pref.) 1 6 0 — Broken Hill Prop. 1 19 6 2 0 9 Colonial Sugar .. 59 10 0 60 0 0 Dental and Medical Supply 0 6 0 _ Dominion Fertiliser 0 15 9 — Donaghy Rope and Twine 2 5 3 2 8 0 Dunlop Rubber .. 0 19 2 0 19 3 Electro Zinc (ord.) I 6 3 1 6 9 Electro Zinc (pf.) 1 14 1 1 14 6 Greater Crystal Palace 0 15 0 1 0 0 Henry Jones Coop. (cum div.) 1 13 6 1 14 3 Howard Smith .. — 0 13 6 Mount Lyell (cum div.) 1 2 1 1 2 3 N.Z. Drug Co. .. 3 12 0 — N.Z. Farmers' Coop. (B pref.) .. — 1 0 0 TNT.Z. Farmers' Coop. (4£ p.c. stock, 1940) 64 0 0 66 0 0 N.Z. Farmers' Coop. (44 p.c. stock, 1945) " o CD 0 — N.Z. Farmers' Fertiliser 0 16 6 — N.Z. Newspapers 1 8 3 •—■ Rural Bonds 90 5 0 97 5 0 Victoria Nyanza Sugar 0 14 0 — Whitcombe and Tombs 3 9 6 3 11 3 Woolworths (N.Z.) (pref., cum div.) 1 15 0 __ Mining. Alexander (13s 6d paid) 0 17 4 0 17 6 Assam Kumbang (£1 paid) 1 15 0 Aotearoa 0 1 3 0 1 4 Bell Hill 0 1 0 0 3 0 Bell Hooper (9d • paid) 0 0 114 0 1 0 Poll Hooper (Is paid) 0 0 111 0 1 2 Bell Kilgour .. 0 1 3 0 1 4 Bendigo Goldlights 0 0 4 0 0 6 Big River 0 0 114 0 1 2 Blackwater 1 10 0 1 13 6 ''Jmtral Shotover (9d paid) 0 0 9 0 1 3 Freshford 0 0 2 0 0 3 J Gillespie's Beach 0 1 114 0 2 0 Gillespie's Beach ("rights") 0 0 11 0 1 0 Golconda (8d pd.) 0 0 6 0 0 94 Golden Dawn 0 1 1 0 1 10 Golden Point 0 0 n 0 0 2 Golden Sands (cum div.) 0 3 2 0 3 4 King Solomon (cum div.) 0 3 2 0 3 34 Lawson's Flat .. 0 0 n 0 0 54 Mahakipawa 0 0 04 0 0 1 Mahakipawa (pf.) 0 0 0i Nevis Diesel Elcc. 0 0 9 0 0 10 New Cornish Pt. (Is paid) 0 0 ni 0 1 04 New Cornish Pt. (Cd paid) 0 0 7 0 0 74 Nokomai 0 3 0 0 3 3 Okarito 0 10 15 0 10 2& Oxenbridge Shotover (9d paid) 0 0 74 0 0 9 Paddy's Point 0 3 0" 0 4 9 Waihi Grand June. 0 4 1 0 4 7 Waitahu 0 6 2 0 6 4 Weatherstone's 0 3 3 0 4 3

Buyers. Sellers. £ s. d. £ s. d. Andersons, Ltd. (prcf.) .. 0 15 9 0 18 9 Addison's Flat (Is paid) .. 0 3 0 0 3 6 Brian Born .. 1 3 9 1 6 6 Claude Neon Lights .. 2 3 0 2 10 0 Glenroy (6d pd.) 0 0 54 0 0 8 Goldfields Dredg. 0 0 10 Hatter's Flat Us paid) .. 0 0 7i 0 0 11 Hatter's Flat (Cd paid) .... 0 0 6 Invest. Exec. Trust, B debs., 1st issue .. 97 10 0 98 2 6 Invest. Exec. Trust B debs., 2nd issue 97 17 6 Invest. Exec. Trust (pref.) .. 1 5 0 1 10 0 Long Trail .. 0 1 6 0 2 2 Macrowhenua (Is paid) .. 0 0 11 0 0 114 Mining House Concessions ((id paid) .. 0 0 34 0 0 7 Moonlight Nelson Creek (Is paid) 0 0 11 0 0 114 National Tobacco 3 5 0 — N.Z. Mining Investment .. 0 0 114 0 1 14 N.Z. Perpetual Forests .. 2 5 0 — Sandhills Gold (6d paid) 0 1 0 Simplex Milling 0 18 9 Skippers, Ltd. (6d paid) .. 0 0 1 0 0 24 Snowy River .. 0 0 3J 0 0 44 Smith, Wyllie 0 13 9 Sun Newspapers 0 3 10 0 3 11 Temitka Flour .. 0 15 0 — Were's Investment Trust .. 0 4 0 0 4 9 Woolworths (N.Z.) (ord. cum div.) 5 0 0 8 10 0 Woolworths (Sydney), ord. .. 4 15 0 5 1 0 Woolworths (Vic.) (pref.) .. 1 3 0 1 4 0 Worksop Extd. (44d paid) .. 0 0 44 0 0 6 Sales. £ s. d. 1000 Maerewhenua (Is pd.) 0 0 114 £700 Investment Executive Trust B debs., 1st issue 97 17 6 (3) 98 0 0 AUCKLAND Sales on 'Change. £ s. a. Ins. slock, 1943, 3 J p.c. 100 15 0 Natl. Bank of N.Z. 4 3 0 Bank of New South Wales 33 2 6 Bank of New Zealand , , 2 7 11 2 7 9 A.P. Assurance , , 0 11 9 N.Z. Insurance 2 15 0 South British Insce. , # 3 14 6 Taupiri Coal • . 0 15 6 Kauri Timber 0 15 11 Colonial Sugar 59 17 6 Hill and Plummet* (2) 0 11 0 N.Z. Newspapers 1 8 6 Waihi Junction (2) 0 4 6 Mount Lyell 1 2 5 Unofficial List Investment Exec. Trust B 98 0 0 Smith, . Wyllie (Aust.) 0 12 0 DUNEDIN Sales Reported. £ s. d. N.Z. Breweries (late Tuesday) 1 17 0 Ins. Stock, 34 p.c., 1941-43 100 5 0 MELBOURNE £ s d. Comm. Bank of Australia 0 17 3 Comm. Bank of Australia (pref.) 9 1 0 Gordon and Golch 1 13 6 Mount Lyell 1 2 44 North Broken Hill 4 5 6 WAR LOAN STOCK ar.rrisu official ■\YI11ELESS.) RUGBY, November 21. British 3J per cent. War Loan stock is quoted as follows:- £ s. d. November 21 . 100 0 0 November 20 100 3 9 November 18 100 3 9 November 17 100 6 3 November 15 99 17 « November 14 100 6 3

£ s. d. Commonwealth Bonds— 4, per cent., 1938 104 17 6 4 per cent., 1959 105 0 0 Bank of New South Wales 32 2 6 Tooth's Brewery 2 3 9 Associated Newspap ?rs 1 0 10| Associated Newspapers (pref.) 1 0 3 Broken Hill Proprietary .. 1 19 7 A Goldsbrough, Mort 1 10 3 Wilcox, Mofflin 0 10 6 Afternoon Sales. Bank of New South Wales 32 5 0 E., S., and A. Bank 5 12 0 National Bank (£5 paid) G 10 0 Comm. Bank of Sydney .. 17 7 0 Colonial Sugar 61 0 0 Mercantile and Mutual Insurance 1 0 104 Australian Provincial Assurance 0 12 3 Associated Newspapers 1 0 104 Associated Newspapers (pref.) 1 0 3 Australian Glass 2 8 6 Goldsbrough, Mort 1 10 44 Tooth's Brewery 2 3 3 Toohey's Brewery 1 4 3 Dunlop, Perdriau 0 19 3 Dunlop, Perdriau-(pref.) .. 1 14 9 British Tobacco .. 1 18 0 Carlton Brewery 2 3 6 Anthony Hordern 0 13 6 Anthony Hordern (pref.) .. 1 2 6 Standard Cement 0 16 Farmers' 0 18 0" David Jones 1 15 9 Drug Houses of Australia 0 17 10.V Commonwealth Wool 0 18 1£ Henry Jones 1 14 0 9 Electrolytic Zinc 1 6 Victoria Nyanza .. 0 17 0 6 Mount Morgan 2 15 Kuala Kampar ,. .. 0 12 4 Bulolo Gold .. .. 5 12 0 Bulolo Deposits 0 2 44

Quotations: — Nov. 20. Nov. 21 -A ton A ton. Copper—■ £ fi. d. £ b. (i. ♦Standard, spot 'J9 6 29 G 3 Forward 2i> 8 1» 29 10 7% Electrolytic o2 10 0 32 3 0 0 to ;; lu 0 o3 10 0 Wire bars D-» JO 0 33 JO 0 -American electro ytie 8.L 5 cents per lb. Lend— .Spot 1 1 5 0 31. 3 9 Forward 11 S 0 11 7 0 Spelter— Spot 14 16 3 34 10 0 Forward lo 2 6 14 7 6 Tin— Spot 227 17 6 227 10 3 Forward 227 13 9 227 13 9 Silver— Standard, per 02. isga lS|d