LONDON WOOL SALE

Press, Volume LXXXIX, Issue 27036, 11 May 1953, Page 13

LONDON WOOL SALE

PRICES FIRM ON TUESDAY’S

SPECIALTY TYPES IN KEENER DEMAND (N.Z. Press Association— Copyright) (Rec. 7.30 pun.) LONDON, May 8. Prices at the returned London wool sales today were about the same a» on Tuesday, saya the joint report of the London agency of the New Zealand Wool Commission and the Committee of London Woolbrokers. Of 11,570 bales offered, 8332 were from New Zealand. They included a representative selection of greasy and scoured clip wools from most districts, and a considerable quantity of sllpe. The tone of the market was much the same as Tuesday’s, but although demand was still concentrated primarily on combing descriptions, types suitable for specialty use attracted keener competition than at the opening of the series. Merino clips from Marlborough and Canterbury were sometimes up to 5 per cent dearer than at the end of the previous series in March, especially the more average style lots. A small selection of South Island halfbreds sold with equal freedom at prices up to 5 per cent, dearer. A large weight of crossbreds from all districts of the North Island were often of better style than those in Tuesday's catalogue. It appeared that the Home trade was the principal buyer, but a considerable quantity was also taken by the Continent.

Scoured Merinos and halfbreds sold strongly, with best styles in particularly good demand. Compared with March levels the prices for Merinos tended against the buyer. A fair selection of scoured crossbreds, mainly offsorts from Hawke’s Bay, was in steady demand, and Tuesday’s prices were maintained. Among the sllpe wools halfbred lambs of fine quality were often bought for combing and were Id or so dearer than on Tuesday, but no quotable change was noted in prices for other grades. Range of Prices The range of prices for New Zealand wools in grease is as follows:

South Island Clips Merino clips from the South Island attracted most interest among the New Zealand offering and a buyer acting for a firm in Germany secured most of the best style lots. These were in the Snowdon clip from Canterbury in which five bales of 60 to 64’s quality realised 96)d. Four bales made 941 d and three other lots more than 90d, with necks reaching 87id, first pieces 80d, and bellies 72}d. Five bales, also 80 to 84’s quality, branded Birch Hill, from Blenheim, sold at 90jd, while 12 bales from the same area branded X/Vernon. that were only of 60 to 58’s quality, made 89d. Also catalogued was The Lakes clip from North Canterbury, in which seven bales realised 88d, 11 bales 86d, and 22 bales 83d, while necks realised 85d and 821 d. Among the halfbred clips average 58’s quality from Kaikoura sold at 78Jd, while five bales of 56’s quality, branded London Hill, from Marlborough, realised 75)d. The highest price of the season, for scoured wools was obtained when four bales of Merinos of 70’s quality, branded Mesopotamia, from Mid-Canterbury, sold at 148)d. In this clip 1« bales realised 146 d, another 16 bales 145 d, pieces 132 d, and bellies 129 d. > Seven bales from the Cient Hills Station, that were of «6’s quality, made 14« id. Two lots branded Maryhill, from Fairlie, realised 1431 d and 140 d, with pieces making 132Jd. Thirteen bales branded Dunstan Downs, from Omarama, fetched 141 d. Top price for scoured halfbred fleece was 117 d for three bales of fid's quality in the Maryhill clip, and this was equalled by the first pieces. NATIONAL BANK OF NEW ZEALAND (New Zealand Press Association) WELLINGTON, May 10. The general manager of the National Bank of New Zealand, Ltd., hag received a cable message from the head office of the bank in London stating that the directors recommend a final dividend for the year ended March 31, 1953, of 5 per cent., less United Kingdom income tax at the full standard rate of 9s in the £. This dividend is payable on July 7 at the air mail buying rata of exchange for demand drafts on London current at the date of the dividend warrants. An interim dividend of 3 per cent., lass United Kingdom income tax of 9s fid in the £, was paid in January last.

d. d. Merino, 60/64’s— Super .. .. .. 91 to 95 Good 86 to 90 Average .. .. 80 to 85 Fine Halfbred, 58 to 56/58’S— Good 74 to 79 Average .. .... .. 67 to 73 Halfbred, 50/56’s to 56'S— Good .. .. 60 to 63 Average 57 to 59 Fine Crossbred, 5O’» to 48/50's— Super .. .. 57 to 60 Good 55 to 57 Average 6i to 05 Medium Crossbred, 46’s to 48’s— Super .. .. .. 58 to 68 Good 53 to 56 Average 50 to 53 Fine Crossbred Hoggets, 50/54’S— Super .. .. 50 to 6t Good .. •• •• 56 to 58 Average •••• 54 to 56 Crossbred Lambs— Spper .. .. .. 61 to 64 Good .. .... .. 57 to 60 Average .. .. •• 51 to 56 First Crossbred Pieces— Super 50 to 51 Good .. .. • 47 to 49 Average .. .. .. 43 to 47 Crossbred Bellies— Good-average 43 to 45