WOOL PRICES LOWER

Press, Volume XCVII, Issue 28660, 9 August 1958, Page 8

WOOL PRICES LOWER

Winter Sale At Auckland (New Zealand Press Association) AUCKLAND, August 8. Compared With the recent sales at Napier and Wanganui, secondshear wools were up to : 2| per cent, cheaper, good to average crutchings were in buyers’ favour, and all inferior lines were, fully 2A per cent, easier at the first sale of the new wool selling season held in the Auckland Town Hall today. estimation of market trends is contained in the official report of the sale issued by the Auckland Wool Brokers Association in conjunction with the New Zealand Woolbuyers’ Association and the New Zealand Wool Commission. The offering contained 20,533 bales in six catalogues comprising mainly second-shear wools and

crutchings, together with a small quantity of carry-over fleece and oddments. There was also a. small quantity of lambs wool offered on behalf of the New Zealand Wool Commission. The )wool opened up fairly light in condition 'reflecting the more favourable seasonal conditions in the early part of the winter. Crutchings, however, were inclined to be short and irregular in length. There was a full and representative bench of buyers, from whom competition was steady throughout the day. Both Bradford and the Continent were operating. A clearance of about 90 per cent, of the offering was effected at auction to commercial buyers. The New Zealand Wool Commission again actively, supported the market, but only a small quantity was sold at their bid. The following is the official range of prices: Sceond-shear Fine Crossbred, 50/56's

MOSGIEL WOOLLEN ISSUE

(New Zealand Press Association) WELLINGTON, Aug. 8. The Mosgiel Woollen Company advises that the consent of the Capital Issues Committee hag been given to increase its capital to £250,000 by offering 50,000 £1 ordinary shares at a premium of 7s 6d in the ratio two for five to existing shareholders. An extraordinary general meeting to consider the proposal is to be called Otago Daily Times.—The directors of the “Otago Daily Times” have declared an interim dividend of 9d a share for the half-year ended July 31, 1958, payable on August 15.

Good to average d. 38 to d. 40 Average 34 to 36 Inferior 28 to .31 Medium Crossbred, 46/ 50’s—» Good to average 35 to 36J Average 32 to 34 Inferior 26 to 30 Crutchings Crossbred— Good to average 27 to 29 Ave/age 23 to 26 Inferior .. .. 16 to 21 Seedy .. 10 to 14 Seconds— Average .. 19 to 21 Inferior . , 14 to 16