SYDNEY WOOL SALES

Press, Volume LXX, Issue 21308, 30 October 1934, Page 13

SYDNEY WOOL SALES

BETTER CLASS SKIRTINGS RISE .MARKET VERY FIRM . (united PUKSS association —by ki.kctric TEI.EUUArH—OOI'YUIGIIT.) (Received October 29, 11.40 p.m.) SYDNEY, October 29. At the wool sales 11,500 bales were offered, 10,625 sold and also 2131 offered privately, with very good competition from Yorkshire, more activity on behalf of Continental operators, and moderate support from Japan. The market was very firm at the closing rates of last week, while better classes of skirtings advanced 5 per cent. Greasy merino made 16d for seven bales from Moree. The average price of wool at Sydney auctions last week was £l2 9s 2d a bale, or 9.4 d per lb. GLUT OF MONEY • IN BRITAIN GILT-EDGEDS RISE SHARP DROP IN RATE FOR TREASURY KILLS (RIU'IJSFI OFFICIAL m#ELI3S.) (Received October 29, 7.20 p.m.) RUGBY. October 27. The under-consumption of credit and capital which is one of the outcomes of the world's economic disorder was reflected during the week in the continued strength of the giltedged market. Yesterday new high levels were recorded by several British Government securities, after substantial" buying by big financial institutions. Allowing for the deduction of tho half-year's interest, the price of War Loan 3.', per cent, was 8s 9d higher at £lO4 13s 9d, and 3i per cent, conversion stock changed hands at £lO5 15s The sharp fall of 4s 8.3 c! yesterday in the rates for Treasury bills to 9s 7.42 d per cent, represents one of the biggest changes in the rate that has occurred in a single week for several vears, and gave a fresh upward drive "to gilt-edgeds. MINING OKARITO RETURN' (MESS ASSOCIATION- TKI.KU lIA M.) DUNEDIN, October 29. The Okarito wash-rp for the week ended Saturday totalled 360z 12dwt for 128 hours' dredging. GILLESPIE'S REACH (rilES:i AS SOt: I ATI OM TELECJHAM.) DUNEDIN", October 2<). The Gillespie's Beach Dredging Companv reports a return for the last week of 570z for 137 hours' working. WAIT AMU SLUICING (IUtBSS ASSOCIATION TEI.IXIUAM.) DUNEDIN, October 29. The Waitahu Gold Mining Company reports that tho result of nine days' elevating was 230z 19dwt. MATAKI trlllSS ASSOCIATION TBLBiiUAU.) AUCKLAND, October 29. The Mataki gold-dredging return last week was 450z for 132 hours' work. MAIIAKIPAWA GOLDFIELDS, LTI). Advice has been received from the mine manager that the mine has been unwatercd, and that mining operations were resumed yesterday. A MINING YEAR HOOK A New Zealand Gold Mining Year Book is now in course of compilation, and will be issued shortly. It should meet with a welcome reception by mining investors, mining boards, and secretaries, as since the present ievival commenced there has been little information available as to the extent of it. In this respect the Mining hand Books which used to be issued by the Mines Department every 10 years, ana the last of which made its appearance in 1906, could be very usefully revived. A useful supplement to the new guide is a map of the Dominion, on which are plotted as near as possible the location of the various claims now toeing worked or for whicli capital has been raised for development. The list comprises 157 companies, of which the areas of 31 are located m the Noith Island and 126 in the South Island. Three years ago the total number of mines in active operation did not cx ceed 10. TRADE OF CANADA INDICATIONS OF RECOVERY (rKBSS ASSOCIATION TELKUKAM.) AUCKLAND, October 29. A former Prime Minister of Canada, the Rt. Hon. Arthur Meighen, the present Leader of the Canadian Senate, arrived by the Niagara en route to Melbourne to represent Canada at the Centenary. He said Canada was very well, every index of being favourable, but Canadians they would be better off if conditions in the United States were more stab and the immediate future theie was oxg ceitain. ItiH hyifrsnro'u? ;SO c s of those for the year previous to tli 20 per cent. _ PRICE OF SILVER LONDON, October 27. Silver (pence an ounce) is quoted:— & Oct. 26 Oct. 27 dnot .. •• 23 23 * Forward ..23 15-16 23g