WOOL PRICES IMPROVE

Press, Volume LXXXVII, Issue 26538, 28 September 1951, Page 9

WOOL PRICES IMPROVE

CRUTCHINGS SALE AT WANGANUI

ADVANCE ON SOUTH ISLAND VALUES (New Zealand Press Association) WANGANUI, September 27. Prices at the Wanganui crutchlngs sale to-day were better than expected and showed an improvement on recent sales m the South Island. The offering comprised 6912 bales. “Competition was keen and widespread, but was within defined 'imits," says the Wanganui Woolbrokers’ Association in its official report on the Mile. ‘The sale was better than was anticipated and showed a marked improvement on recent South Island sales, the firming tendency being in sympathy with recent _,ondon rates.” The range of prices is as follows:

LONDON SALES CONTINUE

CROSSBREDS 2} PER CENT.

DEARER (N.Z. Press Association—Copyright) LONDON, September 27.

Offerings at to-day’s wool sales totalled 5799 bales, of which 5639 were from New Zealand and 4500 bales were sold. A speciality of the sales was New Zealand scoured Merino which made up to 119 d per lb for 64/70’s and greasy crossbreds made 66d for 52’s.

Competition was general, the home trade predominating. Crossbreds ruled 2J per per cent, dearer and the large offering of slipes up to 15 per cent, dearer than last week.

SHARE MARKET INDICES

COMPANY NEWS 1.C.1. Profit Increase.—Australian Consolidated Industries, Ltd., and subsidiaries earned a net profit of £766.270 for 1950-51—£160,314 more than last year. This profit is reached after undisclosed provision for tax and contingencies. Unchanged dividends of 9 per cent, preference and 9 per cent, ordinary total £619,627, an increase of £159,738 on the higher capital. The profit is equal to 6J per cent, on shareholders' funds, against 5) per cent, last year.—(P.A.) Tooheys Fall in Profits.—The net profit of Tooheys, Ltd., is £BB5 (or 5.7 p?r cent.) lower at £147,994 for the year ended July 31. This profit is struck after en unstated amount of taxation and £42,709 for depreciation—a fall of £558. L‘l’*i<lend is steady at 8 per cent., requiring £142,065. -(P.A) Westland Breweries.—A net profit of £18,542 for the year ended June 30, 1951, is shown in the accounts of Westland Breweries, Ltd. When last year’s nalance of £18,469, plus an over-estimate of taxation is added, this gives a total of £37,083 From this is deducted £2200 for a pre-viously-paid dividend, and taxation provision requires £10,700, leaving £24,133 available for allocation. The directors recommend a final dividend of 6 per cent (£3300), giving a total dividend for the year of 10 per cent. This year’s carryforward amounts to £20,883. The annual meeting of the company will be held at Greymouth on October 9.

urrcyinuuui un vliuuvi, v. STOCK SALES ST. ANDREWS "The Press” Special Service TIMARU, September 27. With the aid of outside competition, values held very firm for the penning of more than 100 head of fat cattle yarded at St. Andrews to-day. The entry included several pens of well-bred, well-wintered cattle. Over-all, the quality was good. The few store sheep offered held firm at late rates. Values were:— Fat Cattle.—Fat bullocks: extra prime, £44 to £5O; prime. £3B to £43; medium, £32 to £37; light, £23 to £3O. Fat heifers: extra prime. £32 to £35 7s 0d; prime, £27 to £3l; medium. £2l to £26 17s 6d; light, £l4 to £2O. Fat cows: extra prime heavy, £25 to £3O 7s 6d; prime, £2l to £24; medium, £l6 to £10; light, £l2 to £l5. Store Sheep.—Ewe hoggets, 69s to 71s: wether hoggets. 34s to 565.

PRICE OF'TIN LONDON, September 27. Tin is quoted at £962 10s for spot and £907 10s for forward.

d. d. 46/90 Crutchings— Good .. ' . 281 to 32 Average .. .. . 22 to 27 44/48 Crutchings— Super .. .. . . 42J to 44 Good .. .. . 35 to 38? Average . 28 to 33 Inferior and seedy . 22 to 25 Carbonising .. . 11 to 23 40/46— Short crutchings .. . 26? to 32 46/50, Hogget Crutchings— Good . 27 to 321 Average . 22 to 25? Inferior and seedy . 14 to 20

New York.—Dow Jones (19! 6 equali 100):— Rails. Industry. Shares Oct. 30 .. 66.78 226.42 1,790,oOC Nov. 30 .. 68.53 227.60 2,080,000 Dec. 30 .. 77.64 235.41 1,530,000 Jan. 31 .. 86.58 248.83 2,340,000 Feb. 28 .. 85.10 252.05 1,640,000 March 31 .. 80.58 247.94 480,000 April 30 .. 82.92 259.13 1,790,000 May 31 .. 79.64 249.67 1,200,000 June 29 .. 73.39 242.64 1,730,000 July 31 .. 80.54 257.86 1,550,000 August 31 .. 80.33 270.25 1,530.000 2,060,000 Sept. 20 .. 84.37 274.27 Sept. 21 .. 85 34 272.11 2,180,000 Sept. 24 .. 85.72 270.77 1,630,000 Sept. 26 .. 85.87 272.24 1,520,000 London.—“Financial Times": Indus, ord. (1936 equals equals 100):— 100): Govt Indus, ord and gold (1926 Govt. Gold 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 May 31 .. 132.9 103.42 120.56 .. 137 2 102.38 116.76 June 29 .. 135.8 401.58 111.48 July 31 .. 127.1 101.76 111.48 August 31 .. 133.0 101.98 109.88 Sept. 20 .. 135.3 101.35 111.12 Sept. 21 .. 138.2 101.78 112.36 Sept. 24 .. 137.4 101.69 111.92 Sept. 25 .. 136.4 101.60 111.30 Sept. 26 .. 135.4 101.28 110.38