FINANCE AND COMMERCE

Press, Volume LXXIII, Issue 21990, 14 January 1937, Page 11

FINANCE AND COMMERCE

tf OOL RISES SHARPLY IN LONDON

i final wheat payment

' Wool prices rose sharply at the opening of the first series of 1937 sales in London on Tuesday. Competition was widei: 1516 d and animated, and there was a substantial advance in s P rea , . Ah. qualities shared the rise.'Bradford and the Consent were the main operators, with Russia also prominent. .. It \ cmi navment of 41d a bushel on the 1936 wheat crop will I toward the end of February. As the Wheat Commitbe handled nearly' 6,800,000 bushels of 1936 milling grain, i if payment will be approximately £ 120,000, and will I J&fiKSrn up to 4s 9W a bushel, f.o.b. ■ftl ■Rnsiness was brisk on the Christchurch Stock Exchange 8 1 prdav when there was keen buying over a wide range of Several notable price gains were made. ¥ '‘There was a keen demand for all classes of stock at yesterAddington market, particularly for lambs, the export fl for which have been advanced to 9d per lb for 36’s and W P r S!; and to Bid for seconds. A heavy entry of fat cattle sold t .TfcSt Prids ruling at last west’s sale.

JVOOL PRICES ADVANCE

| London Series Opens SHARP ADVANCE FOE I CROSSBREDS '4 STRONG CONTINENTAL COMPETITION i?; JpoiEO PHE93 ASSOCIATION—COPiTRIGHX.) I LONDON, January 12. Bis first ■‘series of the London •V, itoial wool sales tips year opened at fences’of to 10 per cent, for ,p- srino, 15 »er. cent, for fine crossyt.. *ds, and itf". to -115 per cent, for v'.-j edium. crossbreds. Base was an offering of 879 J bales, which 1837 were from New Zealand. - f total of 8064 bales was sold. There jtt as a good selection, and active ineral laying, tfieUontirient, securing ii ebulk.' ? f'• iilEprices generally were. -7 J to 15 per isiffct dearer thaii the closing prices of rSfofti lacf £prtP<J Zealand" gfeasy crossbred, Dandaw, sold to a top price ! 19id, and averaged 17 Jd. 7 1 *] ANIMATED, MARKET \ ■.. - k Bradford; France, and i* RUSSIA COMPETING iP advice received in Christie iiirdh yesterday showed that tnere jtf as a large attendance. The market s ip as animated, and competition waS >irited with the Home , trade v -pnd .'oi ; ranee tfie principal buyers, and Rusa also Operating. There was a good ssJlectkmtof all. New Zealand greasy K ls, except meriiios -and halfbreds, SB’s).a was s^d—leg %e crossbred, IJd—2d'higher, low crossbred l|d—2d higher. K?j»ere was-no-representative offering u- merinos or halfbreds, 50-56’s, ' . V-, : i ,:' ' „> ■■■ . ANTWERP FUTURES | ||| (Witt $3183 ASSOCIATIok— COPYSIGHT.J : I

'iff , \ , ■, - f 1 \ LONDON, January 12.ise Antwerp • futures is; iSsf Dry combed Australian tops 't& * Woted: March 35id per lb, May g . ; MERINO WOOL j moderate total : r EXPECTED f A> ■ V, ; XJ:'-,.. stronger demand l! ■ ■ ; cost of merino wool - c °t rise to a level which checks, “so£ mill products, a strong demand ■f '^S l3 la'.be assured for it, says the '*s: I cpojrt of Winchcombe, Carson, M !4; More, than half the. current Ausclip.,has been sold. In South ‘-;i • ® 61 -per cent, of the season’s sup- 1 M marketed, only 318,200 ® Sr available for the second m zof thd; season. !|| bulk of the merinos sub- '®' „^,.;i?: Australia from January to ffl ri*mS in Sydney and H In Adelaide approximately s| be offered during the jjf months, but in, Western iff ea»n?kfb ly about 44,000 bales will % !&,» decrease of 42,771 bales Ha.'last?«? n ny ^y I° r the similar period ,L 4i cei t «f? n ‘ Drought has,decidedly I S„M e - in state. The y.- Jd a i.?*P is 41 per cent, crossbred. S' Proportion of the selec- *’• fldrt rif . now be available will &' ?s ennff ? of that class. The . iHbeairai^i.? 161100 su PPlies which »V £&' ln Western Australia I ibl *<S ,£ ye , a L wm t 0 an appreI.' aa StMs^ n offse . t the increase in the r m New South Wales likely^w? b i? n °I Japanese buying Si ®od for-^Hn 01 ' assure a strong dei,. in , Au . st ralia, as . it P &as w mater ial for which fe is shc to” ft sunnr to draw on South f>. so A Ut h - as had New ik L°biain America in which 2Mot Bradfnr^ C + S ’ Recent quola- || SS influent nn PS u how the ex ' M on , ber enquiry; If ytcesfo-® tops advanced Id per latter r ?f^ reds receded - Rates bad previously shown King 0 / to the vigorous Prices to by Japan ? she 1 n^ gh l evels ‘ Thc-op-ln Austrair -b as to obtain UQ to is evidently ex--0 ~ her desire to secure 3 da c^'mad^f e in wot>l arrd m S«»S&1M% from it has-ex-‘l has hp 6W months - The m busi n aas fe en a notable facI « has not only IdfrraUa r fu U ,f Chaser of w ° ol countries P n mary pro-;. # w ool/tm?c has also purv ops > yarns, and textiles 111 , * • m 'I ....

with freedom in Great Britain. Ex--‘ ■■ ports from Bradford to the United States during the 10 months ending ' October . were valued at nearly £2,000,000, a 50 per cent, increase on the total a year before. That trade has indirectly assisted to keep English V demand for wool keen. Many years ; nave elapsed since wool entered upon • tne second - half of . the season * under, .as ■ prorhisidg' circumstances as those , existing this year: