OUTLOOK FOR WOOL

Press, Volume LXXXVII, Issue 26529, 18 September 1951, Page 9

OUTLOOK FOR WOOL

BRADFORD MARKET DULL

(Special Correspondent N.Z.P.A.) LONDON, September 17. The Bradford market is passing through a dull and uneventful phase in which new business in tops and yarns is of minimum volume and most sections of the market register little activity because of the continued uncertainty about the future of wool values, reports the International Wool Secretariat special news service. All Dominion wool markets registered further price declines last week, and it would appear that a stable price basis has yet to be established. Wool values are now being tested by substantial aggregate offerings, and the exceptionally high prices of last season are discarded, but importers who lost money at those high prices are reluctant to enter new commitments at present-day prices until they see some indication that a settled basis is emerging. Importing merchants and topmakers lack confidence to buy wool in their accustomed volume, as consuming trades are withholding business in tops and yarns until wool prices show greater stability. The trade is now experiencing the aftermath of last season’s unprecedented wool prices, for the consumption of wool goods is temporarily declining while the public look for lower prices following the recent fall in wool It is possible that the public attaches exaggerated importance to wool prices as a factor in clothing costs, but the fact remains it is proving difficult to "digest” recent dearer wool in the industry's final products, although the latter do not reflect by any means the full extent of last season’s rise in wool., Wool traders fear the possibility that the reaction from the former high prices may cause the present price adjustment to go to uneconomical# low levels, in which case prices would be expected to show recovery after the lowest point was touched. Tops Quotations Tops quotations are approximately as follows :—7o’s, ’’A,” 150 d per lb; 64’s, “A," 136 d, and "B," 130 d; 60’s, super. 115 d; SB’s, super, llOd; 56's, super, lOOd; 50’s, 73d; 48’s, 69d; 46’s, 67d.

SHARE MARKET INDICES

GROCERY NOTES ‘ Malt Extract.—A slight Increase has been authorised and new retail rates are: plain malt, l’s. 2s 4d; 2’s, 3s .lid; 7 s, 10s lid. Malt and cod liver oil, l’s, 2a 10d: 2's 4s lod; 7's, 13s 6d; malt, halibut, and orange, i's, 2s lid; 2's, 6s; 7's, 14s Bd. Carpet Shampoo and Furniture Polish.— Two fines manufactured by a Wellington drug house have advanced, and new retail prices are: carpet shampoo, 2s 6d; furniture polish, 2s sd. Acids.—Prices of Italian tartaric and critic have receded considerably, and the market appears to be weak, out selling prices on this market are still a long way below replacement values. Dates.—New season’s pack will' be Shipped from Basrah by the Chyebassa late in October; she will call at Australian ports, so It is most unlikely that cargo will reach New Zealand before Christmas. Stocks of last season's pack are fairly plentiful, however, and are remaining in excellent condition. Sugar.—The cargo of English sugar in the Coralstone is very slow In coming to hand -and deliveries have not yet been completed. Much of this shipment is packed in 2cwt sacks, which are extremely awkward to handle, as the use of hooks is not permissible and this fact probably accounts for part of the delay. As far as quality Is concerned, the sample is very good. Cigarettes.—Licences will be issued for the importation from sterling countries, and the Customs Department has advised distributors of the quantity for which they may cover; when the c.i.f. value is known, licences for the required amount will be made available. On previous occasions licences have been issued to agents and the change allows distributors to select the brands required by the trade. • Italian Walnuts.—Merchants are well pleased with the quality of Italian walnuts imported whole, which have recently come to hand. The shells are washed, the nuts crack well, and are very palatable. Although the shipment was subject to a 50 per cent, freight surcharge, the price is competitive with walnuts from Akaroa.

COMPANY REGISTRATIONS

Registration of the following companies is notified in the current issue of the "Mercantile Gazette”:—

Cashmere Garage, Ltd.—Private company, August 30; 25 Colombo street. Capital: £3OOO in £1 shares. Subscribers: Christchurch—J. K. McKessar 1500, W. L. Timlin 1500. Objects: garage and service station proprietors, and incidental. Lorna Rose Company, Ltd.—Private company, August 31; 192 Hereford street. Capital: £l5OO in £1 shares. Subscribers: Christchurch—L. Zelas 1499, E. Zelas 1. Objects: wholesaler's of needlework, knitted wear, and incidental. Sheffield Stores, Ltd.—Private company, August 31; Sheffield. Capital: £4600 in £1 shares. Subscribers: Sheffield—R. S. Drummond 4599, J. E. Drummond 1. Objects: acquire Sheffield Stores, and incidental. International Agencies, Ltd.—Private company, August 31; 37 Linwood avenue. Capital: £5OO in £1 shares. Subscribers: Christchurch—A. Freebairn 499, F. H. Freebairn 1. Objects: general and commission agents, and incidental. After Hours Petrol Service (Christchurch), Ltd.—Registered August 31; 176 Hereford street. Capital: £5OOO- in £1 shares. Subscribers: Christchurch—G, W. Fairweather 100, J. F. Fuller 60, T. W. McDonald 75. A. C. Rhodes 75, R. E. Spicer 60, C. W. Thomas 50, W. Willes 50. Objects: petrol service station proprietors, and incidental.

Wood and Salvesen (Dunedin), Ltd.Private company, September 3; 17-19 Lichfield street. Capital: £30,000 in £1 shares. Subscribers: Christchurch—Wooff and Salvesen 29,990, H. Wooff 10, E. T. Salvesen 10. Objects: acquire from Wooff ana Salvesen, Ltd., the Dunedin business of automotive and electrical engineersand merchants, and incidental. New City Laundry, Ltd.—Private company, September 3: 23 Browne street, Timaru. Capital: £25,000 in £1 shares. Subscribers: Timaru—E. J. Preen 2500 ord., M. H. Solomon 500 pref., E. Porter 1000 ord. 1000 pref., E. W. Wright 500 pref,, J. S. Preen 500 ord., P. T. Hawes 200 ord., F. J. Mackay 1000 ord., J, W. Drennan 500 pref., W. P. Pateman 500 ord., Morton and Co., Ltd., 1000 pref., H. A. Morton 1000 ord., I. I. Preen 1000 ord., Preens, Ltd., 11,800 ord., A. A. Q. Solomon 500 ord. Temuka—E. E. Wyatt 1500 pref. Objects; laundry proprietors, and incidental. Henry (Doug.) (Hororata), Ltd.—Private company, September 3; 118 Hereford street. Capital: £3OOO in £1 shares. Subscribers: Hororata—H. A. Oliver 1000, D. W. J. Henry 900, R. Oliver 500. Objects: motor engineers, garage proprietors, and incidental. Buller Laundry and Dry Cleaning Company, Ltd.—Private co; April 20; 173 Palmerston street. Westport. Capital: £BOOO in £1 shares. Subscribers: Westport— Hotel Buller, Ltd., 750, H. Lovell 250, I. R. Lovell 350, W. E. L. Gay 250, H. J. Nelson 500, E. E. Reynolds 300, T. Moynihan 600, C. F. Schadlck 500, R. R. Avery 250. Baillie Neville and Company 500. Christchurch—N. Macpherson 250, E. M. Steele 400, D. J. Wilson 250. Nelson—H. D. Hamilton 250, E. F. Hamilton 500. Grsnity—-J. H. Evans 250. Westport—G. McCullOCk 400, F. J. Wilson 280, G. A. Brown 250, A. Paterson 250, J. Hunter 250, L. R. Herbert 250, W. M. Farr 250.

Objects: laundry proprietors and incidental.

Increase of Capital Deanes, Ltd.—Capital increased from £20,000 to £30,000. Furnishing Supplies (Dunedin), Ltd.— Capital increased' from £5OO to £lO,OOO.

New York.—Dow Jones (1926 equals 100):— Ralls. Industry. Shares Oct. 30 . 66.78 226.42 1,790.000' Nov. 30 . 68.33 227.60 235.41 2,080.600 Dec. 30 . 77.64 1,530,000 Jan. 31 . 86.68 248.83 2,340.000 Feb. 28 . 86.10 252.05 247.94 1,640,000 March 31 . 80.58 480,000 1,790 ,000 April 30 May 31 .. 82.92 259.13 • 79.64 249.67 1,200,000 1,730.000 June 29 . 73.39 242.64 July 31 .. 80.54 ' 257.86 1,550,000 August 31 .. 80.33 270.25 1,530,000 Sept. 6 .. 82.72 272.28 2.150,000 Sept. 7 . 82.82 273.89 1,930,000 Sept. 10 . 82.91 275.25 2,190.000 Sept. 11 . 82.31 273.88 2,030,000 Sept. 12 . 83.31 275.31 2,170,000 Sept. 14 .. 84.45 270.07 2,170,000 London.—“Financial Times": Indus, ord. (1936 equals equals 100):— 100): Govt, and gold (1926 Gold Indus, ord. Govt. Oct. 31 .. 116.6 108.82 112.70 Nov. 30 .. 114.3 107.01 105.35 Dec. 29 .. 115.7 106.93 109.73 Jan. 31 ... 120.8 105.95 117.14 Feb. 28 .. 122.4 104.86 120.95 March 30 .. 120.9 104.73 119.67 April 30 .. 132.9 103.42 120.66 May 31 .. 137.2 102.38 116.76 June 29 .. 135.8 101.58 111.48 July 31 .. 127.1 101.76 111.48 August 31 .. 133.0 101.98 109.88 Sept. 7 .. 132.9 101.98 108.82 Sept. 10 .. 132.8 101.95 108.04 Sept. 11 .. 133.0 101.91 107.80 Sept. 12 .. 133.2 101.91 108.87