Aust. Wool Firm As Sales Resume

Press, Volume CIII, Issue 30528, 25 August 1964, Page 19

Aust. Wool Firm As Sales Resume

(N.Z. Press Association —Copyright! SYDNEY, August 24. Australian wool sales resumed in Sydney today when, under strong and general competition from Japan, the Continent and the United Kingdom, with useful support from local mills, the market ruled fully firm on the rates obtained in Western Australia late in July.

When compared with the previous sales held in Sydney in the selling week to July 9, values for Merino fleece and skirtings carrying light to medium burr were 2 j per cent and at times 5 per cent dearer. Very burry and inferior descriptions showed the least appreciation with an .increase of 2J per cent Under keen demand, the market for comeback, crossbred and carding wools also showed an increase of fully 2J per cent. The selection was drawn mainly from the central western plains and Western districts and to a lesser extent the South Western slopes and plains, with a few clips from the North W’estern areas. The central. Western plains wools were mainly well grown, of average spinners—best topmaking style and carrying light to medium vegetable fault. The clip from the west and

far west reflected the dry conditions prevailing throughout the growing period and most of the wools were of best to average topmaking style, of medium to shaftly length, and carrying light fault

The crossbred selection was limited, some 1400 bales being on offer. ♦ Fifteen thousand eight hundred and ninety-five bales were offered and 15.636 bales or 98.37 per cent were sold at auction. Crossbred prices were:— Sixties good average, Hid; 58’s good average, 109 d; 50’s good average, 102 d; 46’s good average, 97d. Melbourne Sales Melbourne wool sales resumed today with an offering of 14,000 bales. There was a 97 ner cent clearance. The offering comprised 70 per cent Merino descriptions and 30 per cent crossbred. The offering . of crossbred types was larger than usual at this time of the year. Comeback and crossbred descriptions- sold extremely well compared with Merino descriptions. Compared with the July Fremantle sale, prices were fully firm. Compared with the June Melbourne sale the market was up 24 per cent. Japan, the Continent and the United Kingdom led the market with support from local mills. Crossbred prices were:— Fifty-sixes good, 80d; 50’s good, 79d. Fea Concrete Issue Terms (N.Z. Press Association) WELLINGTON, Aug. 24. Fea Concrete Industries, Ltd., Gore, as announced earlier, will issue 48,750 convertible note? of 10s each at par in the ratio of one for two ordinary shares held. Terms are 5s on application by October 1 and 5s on April 1, 1965. Shares will be ex rights from tomorrow.

C. and A. Odlin.—Directors of C, and A. Odlin Timber and Hardware Company, Ltd., announces that the offer to shareholders of Hamilton Hardware Company, Ltd., has been declared unconditional.—(P.A.)