COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 946, 13 October 1910, Page 8

COMMERCIAL ITEMS.

' THE' WdOL 'MARKET. " ' It is dilßcult to account for tho set-bach in wool recorded at' tho last sales, and for the drop in Bradford tops. Tho advance in the hank rate has no doubt been a disturbing factor,' but only to ;• tlio; extent that it has been seized upon by interested parties to depress values. There is no warrant for any decline in: prices in tlio trade, situation. The Bpecial correspondent of n. Melbourne contemporary writing under date September 2, remarks that in tho manufacturing, districts the statD of the. woollen and worsted indus-. tries is satisfactorily maintained. . The. inquiry for raw materals ,aud : tops is well maintained, asd.-tboro are plenty, of people willing, and, indeed, ..anxious, to, buy-from ajiyono who will: undertake to malic delivery within a. reasonable period of time; Under these condition's it is only natural that ■ values' should. remain on tho upward tfend, and that, in all departments of.tho. industry a. confident feeling . with regard to , the■ future, should,, prevail..':. Spinners of the . liiglifcr numbered yarns, are fully employed, and therefore insist, whei nowtiating fresh contracts on getting , the terms they ask. This refers no less to the' finer grades of the crossbred staple, than to.merinoes. There;has been some talk of late of dealings in tops, for future delivery,, but. this somewhat speculative type of: business has not materialised to. any extent, A few of the workers made it known that they, wero open to necotiato •contracts for merino tops, to.be delivered next year, on a basis somewhat below that on which .they have recently beoi selline. But this, offer brought forth too • many takers their- equanimity,: and, .find-, ing. that their \customers- wwe decidedly>more ready to buy. than they were "to Bell, they speedily drew back and'. tho business came to a. stop before it had.well begun; Top-makers, as much' as any other section of : the trade", would like to seo prices on-a lower- level, than they- are today,' a movement which they believe wouldbe .in the; interest of all concerned; bjiV. they, aro not sufficiently persuaded in tlieir minds ; .that backward movement' will occiir, to ..run the risk of; operating for a fall when delivery, in the early months' of 1911 is rerjuired. ■ That there, are some points: in,: the outlook favourable to a decline' 'from current rates they are not oblivious ■of,, such, for instance, as:the prospect of increased, supplies, not only. from Australasia, but ■ also from; the lliver Plate' ana from other parts of-the north;' but.agairiss that has ;to be' , set the imminent consumption going, on in this country and on the Continent of '.Europe,.-..the 'continuance of which'for, some: months to comeis prac-, tically. '.assured. : td: seotne possibility of obtaining raw: material, at.'-'sudi a level as would enable them to produce tops. at. less money, to ■be do-' livered. ca.rl^-'in', i thor'coming;/yeaT, j.thinltit -safer, to' act: with caution, and instead of committing . themselves to . speculation ■for. 1 a fall, they morely. no on. \q;rkinK .in hand-to-mputh. fashion. There' aro spinners in -plenty: offering to place contracts at j2d; ,! to 3d. below. current, rates, but they find few, if any, willing to take the chance of •:what -the' remainder,; of : tho.' year will brink forth'in the; matter of priced.. l'os-: sibly the'top-makers thiik the opening of .the selling: SKl son in the Southern Hemis; , pheremay clear the situation for ;thenv and were .they. to find that, wool' could be secured .'in: Australia' r an'd'elsewhere at "a (reduction, they, would promptly respond by lowdring their quotations for -delayed delivery. . ■;. ■; .-.; : ; .. ■ ;■ ■...■:■.'..:■.-■.-'■

• '-'There 1 is.not'much.in tho ahave to favous'a laU in prices, ant , , flcalini; eneciflcally. in crossbred yvools,; the eamc authorlty says;— ':■. •.:;■"■':.. /.-•.■: .'.,;-.- ; -''-.'.'i ' ■;'.- .. "Tho higher : prices-'recently., rilling, for ■ crossbreds.of theniedium'and coarse tyne aro. fully mnint,airied, r and business aliko in.'the: raw.< material and in tops , tends' to broaden "■ and ' expand, v. Those firms . who firmly refused to lower quotations iin the months of Jnnc and : July arc rcapiiiK the reward, of their fpresiifht.,' whilst thofe who sold; are -.now-, rather standing aside,; in the hope.of the.future nrovimr'moroieffica- , - oipus :tb.' recoup, their - loss Wan;.! the pfe-', sent., .. Spinners of ,loy,' coiirit ■■ yarns are ,, dbinpr /exceedingly well. '' Full- employment for, their , frames ..is . provided for.; a lons time to'come, and,-, wheu. it comes-'-to iv tmestion.of new cbntriicts."they are;,ablsto secure highly renranera'tive t-ernjo'. Th<;ro is.'not'"'much' talkinK- .so'- far 'futnrfls'.incoiwse crossbrerte;. It is much too onrly yet for.suoh' business 'to seriously look for any relief in tho cn=f of raw material'.br- tops. -...The Tirobnbilitien,. 'as ; -a matter of fact, rather noint. tho-othorwav, : for imlic-itinUß are : not wiyntinc; of the'" parser fibred -. nitlcle; :iacrea»intr'-.ln,'tax-'our,,, and some-, neoplp are. shapine their buying .policy,' - that U to 1 say,' they areonterinß; into 'contracts for. th'n';delivery'of toiis ea.rly ■ in- next .year,' the- basis of nrlno- ebbing the current .oubtation's : of today.";;. ■■.;-. ,'■•: ■■ •..-.".. ' i; - : ..-."'. .' : ..' ■':■, -,- .; .The.', we'altness- of -the'- market' apnea™ .bo dne totlie absence of American buying. ■: In th0.1.p.-iPt t!ie.oneratipnii of '■.Ameri'-nn wool men have' lifted values, 1 -n nd.;until they ■' come■-;in ■-iiiriin nrircs' are jlilfely to- rernain at .their ''present-level,-' :br oven go back if.supplies .are exceptionally 1 rle'ayy.'-j'.;'■-/.■'•.; ; ,''jv.r. ; :-:; : '-". '. ,;.'. .;v;".i- ..;.:■'' ''•■■ ..'DEBENTUBES.. i .. ■'" '■''' ' ByTelegranh— Press AKsopiation—Copyright., • ..:■>' '•' ■■■■■ London, ' October-11. ■ ".' : .!Ahstp<i.U»Ti : Wortw"re.-- : 51C0.1!!2.-' Anctrn.lian' n.nd Now Kealsind. £101: City of Sydney, yiOls ; Melbourne. Gas, £102; Goldsboroußh, ;£96.-';- ■• . " ■' - :.:'■■--" ;-, : .. .- : . ' ■' ■ -, 1 " : ' : ' : -}.l' : -: .•■■•,!.V , SliiT'EE..'.'' ,; . - ~'■'. ., l :■■ :By Telegraph—Press Apsooiation— Copyrißht- .'!;*■ '■', :^V-;. ''.; Lon'doh, . October 11.!, Bar-silver, is auot-ed at 25 5-16d.,.per'ouncei standard.: \.-.\-; ~'.'•.-■.;; : ;;, . - J ;":, ■■ :;/ !':'■■ .'THE METAL. MAEKET... ' '}_■;. : .."■■' By Teles'raph-Press AEKodntion-OopyriehE. .".-'/,'-.'.''. (Bee. October 12,9.45. ; p.m'.).'■.':, j : ! v ; .v'-'--''.''i.!- : ; - '.'■ ■'■' London, October 12.• Copper.—On : spot, , £56: ,12s. -6d.; three months;;'£s7i 10; clertrolj-tio,;£sß 15s. . : . ■ Tin.-On .spot, £1H; three months, £159 15a. : i y: y '•.-.■■;■.- }:'■"■■ ; .: ':■ ''• •■' '• '-:"■'■" •...'■ '. Lead:--£l2 18s. 9d. :'•;' :*-:>;, . :,V; "•:., , v" ;'! '"DTJNEDIN'GRAIN.IIABEET, r'':,\ ;; :-. (By 'Telegraph.—Press Association.)' .■'•"" •'•-. '' • r Dunedin,! October ,12; . There is no apparent,change in' the wheat.market, only a' very limited .amount of business passing., Millers are pretty, well 'with Tuscan, and their pur-chases-are confined to any lots of pearl velvet i and velvet, ear, that, may be offering ■'. at" about late rate's. Prime millinK, ls. t 10d; .to 3s. lid,;'tuscaa'aad velvet'ear, 3s. 7d.' to 3e. Bd.; medium do:,'3a. sd. to 3s. 6d.; best whole, fowl wheat,-3s. 2d. to. 3g, 4d.: medium, 2s. ■ 10d. ■'.to 3s. Id. ' ' . Tho .oats market continues quiet, and shows no Eigns: of immediate improvement. The' Quantity still ion' hand is not large" and with /slightly better demand would soon disappear. Prime milling,' Is. UJd. to 2s<; good to best feed, Is. 10d. to Is. lid.; inferior.-to medium, Is., 8d; to Is. 9d.'., -:,' ' (Bsr,.Telegraph.—Press .Associ(xtion.)'- ' : ''."'..'■'■!•'.■ v : " '■". October '12. ; . The Grand-Junction Gold Company, during the' four-weekly period ended October 1, crushed and treated 7418 tons of ore for a return of bullion valued at £11,002.