COMMERCIAL ITEMS

Dominion, Volume 10, Issue 3090, 22 May 1917, Page 8

COMMERCIAL ITEMS

INVESTMENT SHARES. Prices of investment shares yesterday were us follow:— Buyers. hellers. ■* 6. d. % *. s. a. Natiqual Hank 5 7 0 — liank jN.Z. i£o 6s. Bd.) ... 1!! 5 U — Danii j>l .Z. (Iα In. Ml.) ... 1/ lu U —' Union Bank 54 0 (I — liquitable Building (I) u — Ntuionai Mortgage JIS I) 316 6 N.Z. β-nd B. Plate - 118 6 Well. Invest. T. and A. ... 0 11 6 — Well. Trust,, Loan, Ltd. ... 7 0 0 — Well, tias l&U) -- 14 2 6 N.SS. Eliinping (pref.) ... 10 15 0 — Union Steam (ord.) — 2 8 0 Union Steam (pref.) — 114 HuddartParker (ord.) ... — 19 3 Kaiapoi Woollen (ord.) ... 6 12 0 — Well. Woollen (ord.) .../.. - 6 6 0 Well. Woollen (pref.) , ... 3 17 6 - Waipn, Coal - 019 0 Westport Ooal 18 0 19 0 Westportrßtockton (ord) - 0 7 3 Westport-Stockton (prof.) 0 11' 3 • — : Crown Urcvrery 1 to I) ~' S.Z.. Paper Mills - , 1 1.0 Cdstoms duties collccled at tho port, of Wellington yesterday, amounted to £2188 18s. lid. ' . . . . HIGH COMMISSIONER'S MARKET ', ItEPOKT. Tho 'Department of Agriculturo, Industries, and Commeroco has xcceivod Iho following cablegram, dated London May 19, from tho High Commissioner • iov- New Zealand. (Note: Quotations, uiilesn otherwise- specified, aro avorage market- prices on ; spot):— ' : Ileal-.— Owing to small supplies all de-, soriptiona of incet, .prices are highjjr for' home-killed, mutton and beef. N.Z. mutr ton, per lb., SJd.; ewe- mutton, Bid.; N.7i. lamb, IOd.;, Argentine- mutton, 10d.; Aigentiiio lamb, lid. Quotations are nominal, oenditione of .sale are samo a.s during last week. Argentino chilled beef, liinde, I3id.; fores,.lljd.V

Butter.—Market is quiet, but, steady. Prices ere easier. Danish, salted, Mis. to 2OJs.; N:Z. salted; 2025. to 2C6f.: uasa-lted, 2043. to 208b. : Australian, salted. 190s. to 19k.; iinsalted, 1925. to 1%5.; Irish creamery, salted, 194 a to 198i>.; unsalted, 198s. to 3005.: Argentine, salted, 186s. 1o 190 a.; uncalled. \%a: to 1923. Cheese.—Market continues firm. Canadian -white and coloured? 1325.; States gats. 1606. Hemp—Market remains firm. There is a general and active demand, but little offered from New Zealand. It is reported 70,000 bales afloat from Manila, under Government control. . N.Z. fair, May to June selling at £83: food fair, on spot, nominally, -£84 10b.; fair. £83 10s. AVhcat— MarS'et quicf but th'iu. Canadian, 81s. " ■ ■ ■ Oata.-Firm market, hut as Government have entire control, market steady and likely to remain so. N. 5 ,.., 565.

YORKSHIRE LETTfiR 1

DEALING WITH FAULTY MERINOS

(l''rom Our Special Correspondent.) Bradford, March 15. Tho writer has before him ns ho dictates this several samples of carbonised wool, and they give rise to a most interesting subject for discussion. Ono of the most remarkable circumstances connected with the last series of London sales was the action of the Department in sending round tho day before the sales look place the Government valuers, who starred all scoured and sliped crossbred wool. Practipally all the scoureds were skin wools from Australia, but what surprised everyone was that tho Government valuers made no distinction, claiming faulty, burry parcels as well as clean, straight, free crossbred wools. One can easily understand the authorities laying their hands upon free wools, but very few indeed expected to see burry parcels commandeered in the same way. The writer said to one of tho heads of the Cloth Department of the Government 'ii Bradford that many people thought the hands of tho authorities would be full with having to deal with these iaitlty burry crossbreds, and the reply was 'candid enough. Tho official, who is ii practical man, and who himself has bought at times big quantities of burry crossbreds, said that they anticipated no whatever in dealing with these wools, for all they would have to do would be to send them to a firm of carbonisers, who would treat them, and thus render them fit for use by Government manufacturers. A eight of the wools to which we have referred clearly shows wliat can bo done in this process, for the wools that now lie upon the table are free of all vegetable matter, and there are both white and discoloured parcels. It wouldjbs most interesting to hear some authority state how valuable is the burr plant to the.pastoralists ot Australia and the Elver Plate, for undoubtedly in its green state it affords succulent food for sheep. AVo take it that it would be "practically impossible {or Australian pastoralists to get rid of the burr plant, objectionable as it certainly is to wool-men. Of course, where burrs uro iound in wool, , it always means a less prico per lb. The reason lor this js obvious to any practical sheer, or wool man. It is quite in order to sav tliaf: burrs spoil any wool, and there are wool buyers at least spinners and manul«c iirers, who tight shy of burry wool, and nil not touch it nt any price. Still these torm on y a minority in the trade, ami the machinery to-day for dealin" with burry wools is much better adapted or its piirposo than was the easo even twenty-five years ago. For many reasonsit is fo bo regretted that burrs abound so largely in Australian merinos, and even in fcouth Africa wo are afraid that burrs are increasing, much to tho annoyance of many buyers. It is a remarkable act that tho burrs which aro found in the wools of tho Argentine aro much larger in size than those found in Australian wool, and yet they are of'lho same specips. It.may seem strange to roidarf, but tho bigger burrs ore much easier to deal witli than the small ones. In' niaiiy woollen mills a burring machine is installed, and if the burrs are lai"e the machine can take them from tho wool without carbonising, but if they are small in size (he-teeth of (ho machine cannot seize hold of them, the, small ones slipping through, which makes enrIjouising an absolute necessity.

Tlio Principles of Carbonising. As already indicated,, the principles of art) to-day very dilforcnt to wJiut they were some years ago. Before the war the best carbonising work wns liiulouotMlly.dono in Iho lowu of Verviors, in belgium, and several men iiro working to-day in' 13i<ulfor<l aL carbonising who ioiioweil tho sainu ot-L-upation in Vtrviers in pre-wnr limes. 'I'liere aro bo less than hl'ibeii linns wlio iiavo put, or aro putting, mi cnrlxmising machinery, so as to ljc;abio to deal ivitU bigger r(iian{,itics of iiuully wdols when tlio war. finishes, and as lar at. wu can sco' there will Ijo every facility foi- dealing easily and effectively . with all tlio hurry wools from Australia. The process is now well understood, and easily accomplished, but no hard and fast rults Mα be laid down, in -the first instance, the wool has to be scoured,' in onlou. to remove all fatty matter.. Then it is put through a solution of water and sulphuric acid, which acts ui»n the vegetable matter, Hte wool then bfing dried. Next it is put through a s;iato : willey, which disintegrates the butr, 'and then was'lit'd in order to get rid o/ the sulphuric acid, tho last process jjeing that of drying. The eecret of tljo wholo process is in having a man who understands tho steeping operation, if 100 much acid is used, it makes the wod tender, and will discolour it, but as it ;'s difficult to decide exactly, what, proportion to use, rule of thumb has to be depended upon. The work to-day is so gcod that very much better results are being obtained than formerly. Tbo chemical used,' as.the reader will easily understand, is of a very fiery nature, and if tho solution is too strong, it soon affects the life and elasticity: of the .fibre, rendering it harsh and brittle. Ureal care is therefore required in handling'the chemicals. Of course, in combing wools which aro burry they can be manipulated without being carbonised if they are not too full of burrs, the carding machines having an apparatus for separating the burr , as it enters the machine. In any case, carbonising is today Vii indispensable part of the wool trade, and everything, points to burry wools being more effectively dealt with ,when the war terminates than ever before.

Bradford Market. IS'o material alteration has taken place, in the position since last week. ■■Sales of tops are being put through quietly, and some, hardening tendency, is noticeable in values where business is actually done. There are not a few cases where topmakers' are still refusing to quote, their argument being that the cost of the raw material is still, above what can be realised in the top. Also, machinery will be engaged on contracts for such a long' period that they can well afford to wait. Besides this forward business, the question of getting supplies to consuming centres is having to be taken seriously into' account, and it is expected on all lmnds that there will be some difficulty.in providing for all the requirements of the trade. Prices in the market compared with last week show little alteration, though, as .already said, teh tendency, if anything, is towards a higher basis. Here and there priqeshave been paid for merinos which register a full penny per lb. above ■ tho' regular market level, but such sales as these are few, and of. an average Ill's may be still put around ss. lid. Interest'is also being shown in fine and medium crossbreds, and prices here are firm. Some slight development has been seen in the inquiry for botany yarns, t but here tho position is very largely the same as in tops, for while some spin-ners-have sold further quantities, the position of others is such ns to make it impossible for them to entertain the acceptance of new orders. Cable information has come "to hand to the effect flat no further exportation of alpaca will be allowed from Sou.th America, the reason for this being that it is intended, to make as much room as possible for other more important cargo.