BY-PRODUCTS OF WOOL GREASE

Press, Volume LXXXIX, Issue 26944, 21 January 1953, Page 11

BY-PRODUCTS OF WOOL GREASE

WAX, ACIDS, AND ALCOHOL RESEARCH, BY AUSTRALIAN ORGANISATION (N.Z.P.A. —Reuter— Copyright) MELBOURNE, January 20. Products worth £70,000,000 could be won from the grease of the Australian wool clip if an efficient chemical treatment industry was established, it was officially announced to-day. The Commonwealth Scientific and Industrial Research Organisation reported a “major advance” in chemical techniques for producing wool wax, acids, and alcohols from the wool grease available in Australia's annual wool clip. The advance could yield products, worth up to £lOOO a ton. The organisation said that full expectation of wool grease was not the only source of potential wealth to Australia, but as an integral part of the whole industry might ultimately prove an important factor in favour of wool in the increasing competition between wool and synthetic fibres.

The organisation's research had demonstrated that under controlled conditions the chemical breakdown could be accomplished easily and cheaply. The report said waxes were basic to an extensive series of pharmaceutical and industrial products which, when fully exploited, would represent a major by-product of the industry. They are unique among other industrial waxes in having a high content of cholesteral, a basic and expensive material used in the production of vitamin D and sex hormones. Other commercial applications of wool-wax products were detergents, lubricants, corrosion preventives, paint dryers, defrothing oils, marking inks, linoleum, plastics, polishes, paper, size, ahd adhesives, the report stated.

COMPANY NEWS GEAR MEAT’S ACCOUNTS “Whereas last year we had to take £30,000 from the general reserve to pay a dividend of Is a share for the year, this year we are able to pay the Is dividend out of the net profit, of the year and at the same time add just on £lO,OOO to our carry-forward figure,” says the annual report of the Gear Meat Company, Ltd. Net profit for the year ended November 30, 1952, after providing for depreciation and taxation, is £32,951, compared with last year's net loss of £31,704. With £1650 brought forward, £34,601 is available. The interim dividend of 6d a share paid last June took £11,500, and recommended final dividend (already announced) will take the amount, leaving £11,601 to be carried forward. The loss on sales and manufactures of £20,330, reported in the previous profit and loss account, is replaced by a profit of £45,589. Total shareholders' funds, increased by nearly £lO,OOO extra from the profit and loss appropriation account, have risen to £321,601. Capital and revenue reserves are steady at £9271 and £25,500 respectively. Building and plant renewal provision has increased from £69,904 to £89,903. Current liabilities fell by £119.975 to £121,868. Fixed assets increased slightly to £63,915 and investments were £1938 lower at £170,056. Current assets fell by £88,524 to £334,172. This item includes stocks at works, valued at £188,608, a drop of £152,955.

LONDON WOOL SALES IN FEBRUARY N.Z. SHIPMENTS REDUCED (N.Z. Press Association—Copyright) LONDON, January 19. Shipments of wool arriving for the London February series of sales will be less than expected, and the sales will, therefore, be confined to one week, beginning on February 16, the Committee of London Wool Brokers, in agreement with the London Wool importers’ Association and the London Wool Buyers’ Committee, announced today. Shipments were reduced by wet weather in New Zealand, which disorganised shearing, and affected killings at the freezing works, it was stated. STOCK SALES 'ASHBURTON In the fat section of the weekly stock sale at Ashburton yesterday, hoggets sold from 42s Id to 52s 7d. In the store sheep section, 60 ewe lambs sold at 52s and a line of 102 ewe lambs sold at 625. Wether lambs brought from 40s to 48s, and mj. lambs fetched prices to 51s 6d. TEMUKA "The Press" Special Service TIMARU, Jan. 20. About 100 head of excellent quality cattle were offered at the Temuka sale yesterday. Values/ for these held very firm. Few store cattle were offered. Fat ewes were the bulk of the extra large penning of fat sheep, and once the butchers’ requirements had been met, S rices for these dropped sharply to freezig values. The few fat lambs offered sold at extra firm rates. Store sheep were not offered in quotable numbers, values were:— Fat Cattle.—Steers: prime, £3B 17s 6d to £43 7s 6d; medium, £2B 2s 6d to £34 17s 6d; light, £26 10s to £27 7s6d. Heifers: prime, £22 10s to £27 7s 6d; light, to £2l 17s 6d. Cows: prime, £27 7s 6d to £32 7s 6d; light to medium, £l7 7s 6d to £22 7s 6d. Store Cattle.—Two-year steers, to £26 7s 6d; yearling steers and heifers, £lO 5s to £l6 ss; bulls, to £l6 17s 6d. Fat Sheep.—Wethers: prime, 56s lOd to 60s Id; medium, 50s to 55s lOd; light, to 48s. Ewes: prime, 30s to 355; medium, 26s lOd to 28s lOd; light, 25s lOd. Fat lambs: prime, 58s lOd to 66s Id; light to medium, 37s lOd to 54s lOd.

UNEMPLOYMENT IN BRITAIN SLIGHT INCREASE IN 1952 The number of unemployed in Britain at the end of 1952 was 406,306, or 27,625 more thAn at the beginning of the year, says the “Financial Times.” The peak figure for unemployed was on April 21, when the figure reached 467,871. it then declined to 389,620 on September 15, and has since showed a slight increase, due to seasonal factors. The main fluctuations were felt in the clothing and textile trades. During the year a considerable labour movement to defence industries took place. Coal mining, an industry which suffered severely from a manpower shortage in the postwar years, gained 23,000 recruits during the year. | The labour force is still considered inadequate. Older people are being encouraged to stay at work and steps are being taken to see that labour is properly distributed and properly trained, with particular emphasis on increasing the efficiency of supervisors. VEGETABLES AND FRUIT Early varieties of apples are now reaching the auction markets in appreciable quantities. Gravensteins are retailing at 9d per lb. Stone fruits are in good supply, and the housewife will have a good range -to choose from for bottling. RetaH Prices Potatoes, new crop, 4d per lb; onions, 6d per lb; spring onions, 6d a bunch; white turnips, 6d a bunch; carrots, 6d a bunch; parsnips, 6d per lb; leeks. Is to Is 3d per bunch; beetroot, 9d a bunch; garlic, 2d per oz; radishes, 6d a bunch; marrows, 6d per lb. Lettuce, 6d to 9d each; cauliflowers, 9d to Is 6d; spring cabbage, 9d to Is 3d each; spinach, 8d to Is a bunch; green peas. Is to Is 3d per lb; hothouse tomatoes, 2s 6d to 3s per lb; Nelson tomatoes, 2s per lb; broad beans, 6d per lb; runner beans. Is 6d per lb; french beans, Is 6d per lb; hothouse cucumbers, 2s 6d per lb; North Island cucumbers, Is to Is 3d each. Rhubarb, Is 6d a bunch; cherries, 3s to 4s per lb; strawberries, 3s to 5s a punnet; raspberries, 3s a punnet; Gravenstein apples, 9d per lb; cherry plums, Is per lb; New Orleans plums. Is 3d per lb; peaches. Is 6d per lb; apricots. Is to Is 6d per. lb; Billington plums, Is 3d per lb; dessert plums, Is to Is 6d per lb; bananas, IOJd per lb. Australian and South African oranges, Is 3d per lb; grapefruit, Is 3d; Meyer lemons. Is lds New Zealand lemons, Is 9d; marmalade oranges, Is 3d; Australian lemons, Is 6d; Fijian pineapples. Is 3d to 3s each. FOREIGN EXCHANGE RATES Sterling gained slightly on hard currency in the last week. Altered exchange rates, as advised by the Bank of New South Wales yesterday, are as follows: N.Z. on New York: buying, 2.8995 dollars to £N.Z.I (2.8057 last week); selling, 2.7769 (2.7738). NJZ. on Montreal: 2.7265 dollars (2.7259); 2.6912 (2.6905). 14l M £ranc> 137,35 (137.45).