Christchurch Wool Cheque Down £¾m

Press, Volume C, Issue 29517, 19 May 1961, Page 15

Christchurch Wool Cheque Down £¾m

The Christchurch wool cheque for the 1960-61 season was £9,238,000, or £776,000 below the 1959-60 year. The weight of wool sold in Christchurch fell from 54.6 m. lb to 53.9 m. lb, and the average price per lb dropped 3.39 d to 41.17 d.

Figures issued yesterday by i the Christchurch Wool- J brokers’ Association’s secre- ( tary (Mr S. M. Graham) for j the fourth main sale show i that 13.495.3981 b were sold at i an average price of 41.13 d per ! pound. At the fourth main 1 sale last year 9,996.8G21b were sold at an average price of 1 43.24 d. i The gross proceeds from 1 this sale rose to £2,312,724 ; this year, compared with < £1,801.133 last year. A comparison of this sea- ( son’s figures with last sea- 1 The following table com- ; pares the net weight, price i per pound and total realisa- ' tion for the 1960-61 selling * season with those for the ; 1959-60 season. !

son’s shows that prices were consistently lower this year. The average price at the winter sale was 4-2 d down or the 1959-60 figure, and at the main sales the difference was as follows: —First main sale, 5.6 d; second, 4.5 d; third, 0.8 d; fourth, 2.1 d; average, 3.4 d. The highest average price this season was realised at the third main sale (43.16 d In the 1959-60 season the top price of 46.42 d was realised at the second main sale. The weight of wool sold in Christchurch fell 756,0001 b, or 1.4 per cent., to 53 9m pound this season. The third main sale was again the biggest but some of the wool offered at this sale the previous season was offered this year at the fourth sale.

N.Z. Loan And Merc.— The board has reason to hope that the fall in profits will not stop it recommending a final dividend payment of 9 per cent., making 14 per cent, for the year as forecast when the additional capital was issued in October, 1960 Queensland Take-over.—Carl-ton and United Breweries, Ltd.,. Melbourne, lias received more than 90 per cent, acceptance of its offer to acquire the ordinary shares of Queensland Brewery. Ltd., and 87 per cent, acceptance of its offer for the preference shares. Directors state the company ‘”in due course” intends to acquire the shares of those stockholders who have not assented.

• 0001b 196061 195960 Winter sale .. 3,157 3,853 First sale 9.304 9,344 Second sale .. 10,306 10.673 Third sale 17,595 20,746 Fourth sale .. 13,495 9,997 Totals 53,857 54.613

d per lb £000 195961 60 61 60 34.78 38.97 458 626 38.72 44.35 1.501 1.727 41.97 46.42 1,802 2,064 43.16 43.91 3,164 3.796 41.13 43.24 2,313 1.801 41.17 44.56 9.238 10,014