CROSSBRED WOOL IN FAVOUR

Press, Volume XC, Issue 27308, 26 March 1954, Page 14

CROSSBRED WOOL IN FAVOUR

GAINS AT EXPENSE OF MERINO British woolcombing figures show tS

the crossbred top output rate is 10 per cent, higher than at this time a year ago, but the Merino top output is 9 per cent, lower, says the New Zealand Wool Board.

One reason for this is that Merino wool, at 10s to 12s a clean pound, proves too expensive for certain goods, and spinners are introducing proportions of fine crossbred in substitution for Merino wool. A large share of recent wool top sales in the Bradford market went to comeback and fine crossbred qualities. These are also in good demand for the knitwear trades, which are now enjoying a brisk business in the United Kingdom and overseas.

Medium crossbreds are also benefiting by this substitution trend. The West German wool textile industry, which is among the world's busiest, is using large quantities of crossbreds. _

GOULBURN WOOL SALES

SPIRITED AND WIDESPREAD COMPETITION (N.Z. Press Association—Copy-right) SYDNEY, March 25. There was spirited competition among buyers at the Goulburn wool sales today. A total clearance was effected. The Continent and Britain were the main buyers, supported by Russia. Crossbred prices included:—super crossbred combing fleece, 60-64’s, at 123 d per lb; good to super crossbred combing \fleece, 60-64’s, 120Jd; good to super crossbred combing fleece, 60’s, IKd; good crossbred combing fleece, 58’s, lOOd; good crossbred combing fleece, 50’s, 773 d; good crossbred combing fleece, 46’s, 68d.

COMPANY NEWS

South Island Finance.—lnterim dividends have been declared as follows:—preference shares, 2J per cent., and ordinary shares 4 per cent., froth payable March

John Chambers.—lnterim dividends on ordinary shares, 3 per cent, and preference per cent., payable April 14, ex April I.—(P.A.)

J. Wattie Canneries.—The consent of the Capital Issues Board has been received for the company’s new issue.—(P.A.) Hume (Far East).—Hume Industries (Far East), Ltd., incorporated in Singapore, but with a Melbourne share register, reports that the year’s accounts, to be posted to shareholders about March 31, will indicate satisfactory profits. Very good prospects are indicated for the current year’s trading, the directors state. Dividend for the year is unchanged at 12J per cent. David Jones Interim.—David Jones, Ltd., Sydney retailers, is paying An interim ordinary dividend of 6$ per cent, on April 14, ex March 31. The rate confirms the previous year’s increased distribution of 121 per cent.', comprising an interim of 5 per cent, and a final of 71 per cent. The payment had been steady at 10 per cent, for the four previous years. In an interim report, the directors state that results for the six months to January 31 had been satisfactory and that trade continued to improve.

COMPANIES REGISTERED

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

Industrial Electrical Heating Company, Ltd.—Private company; March 4; 61 Kingsley street. Capital: £2OOO in £1 shares. Subscribers: Christchurch —L. A. France 1000, C. I. Reid 500, J. C. Malzard 500. Objects: manufacturers and dealers in electrical heating foif industrial and other purposes, and incidental. Century Dinette, Ltd.—Private company; March 11; 135 Hereford street, Christchurch. Capital: .£lOOO in £1 .shares. Subscribers: Christchurch—J. J. Vonk 500, L. A. B. Vonk 500. Objets: caterers, refreshment room proprietors, and incidental. Ainsworth Securities Corporation, Ltd.— Private company; March 12; 81 Hereford street. Capital: £25,000 -in £1 shares. Subscribers: Christchurch—D. P. S. Ainsworth 20,500, J. L. Ainsworth 4500. Objects: financiers and incidental. Addington Fish Supply Company, Ltd.— Private company; March 12; 154 Hereford street. Capital: £3900 in £1 shares. Subscribers: Christchurch—T. F. Watson and H. J. Trumper (Hawarden) 2000 preference (jointly). H. B. Dempsey 1575 ordinary, E. M. Dempsey 325 ordinary. Objects: acquire retail fish business formerly carried on by P. W. Sim, fishmongers, and incidental. Baylis Motors, Ltd.—Private company; March 16; Lincoln. Capital: £l5OO in £1 shares. Subscribers: Leeston—Baylis Bros. (Leeston), Ltd., 100. Lincoln—A. F. Baylis 600, H. D. Baylis 400, J. Y. and M. E. Baylis 200 each. Objects: service station, garage proprietors, and incidental. , Increase of Capital Toomey's Grinding and Gear Ltd.— Capital increased from £15,000 to £22,500. Maugher (R. G.),Ltd. —Capital increased from £2OOO to £lO,OOO. Harrison (A. C.) and Co.. Ltd.—Capital increased from £4OOO to £6OOO. Coast Cash Orders, Ltd.—Capital increased from £lO,OOO to £15,000. CEYLON TEA VALUES EASE (N.Z. Press Association—Copyright) COLOMBO, March 23. Values eased between 3 hnd 24 cents at this week’s tea sale. Offerings totalled 5,559,7521 b. Highgrown broken orange pekoe realised 286 cents; medium liquoring broken orange pekoe, 246; medium liquoring orange pekoe, 235; low medium broken orange pekoe, 236; low medium dust, 234 cents per lb.

CUT IN ARGENTINE CASEIN PRICES

The controlled price of Argentine casein has been reduced in Buenos Aires by £l5 to £l6 a ton, according to advice received by the Bank of New Zealand from its London office. The reduction is due principally to the refusal of the United States to buy in quantity at the old price. Early reports indicate that America considers the reduction insufficient to attract real buying interest from the United States. French producers have followed Argentina’s lead and other markets are expected to do likewise.