LONDON WOOL SALES

Dominion, Volume 26, Issue 101, 23 January 1933, Page 12

LONDON WOOL SALES

Full Late Rates Maintained CONTINENTAL TRADE ACTIVE London, Jan. 20. Offerings at the wool sales to-day were 8459 bales, including 1450 New South Wales, 972 Queensland, 670 Victorian, 704 West Australian, 142 South Australian, and 3384 New Zealand. Approximately 6460 bales were sold at full late rates. Home and Continental competition was well sustained. Sales ncluded merinos, greasy New South Wales “Orandumbie,” highest 13d, average lljd. Victorian “Glen Lockeverton,” highest 12d, average lljd. West Australian, “Wynan.goo,” highest IOAd, average 9 7-Sd; scoured, Queensland, “Wellshott,” highest 20Jd, average 19 1-Sd; New Zealand greasy crossbred, “Waiheke,” highest lid, average 9d.

Irwell and Co., London, cable a’fe follow: —Prices paid in London for good average topmaking wool are as follows: — sS’s, lOJd; 56’s, lOJd; 50’s, 6Jd; 48’s, sjd ; 46’s preparing, 53d ; 44’s preparing, sd; slipes, halfbred lambs, 1/-: threequarterbred, 9d; crossbred seconds, aid. The Bank of New South Wales has been adyised by its London office, dated •January 20, as follows: —Wool prices firm at opening rates; competition well maintained. FOREIGN EXCHANGES Latest Quotations Compared Jan. 21. The following rates on foreign exchanges were current to-day, compared with those ruling on January 19:—

GOLD AND SILVER. Silver—Cash. 16 15-16 d per ounce; forward, 16 15-16(1, London, Jan, 21. Gold.—£6/2/6 per fine ounce.

GOVERNMENT STOCKS Commonwealth Bonds Firmer London, Jan. 19. Quotations of Government stocks on the London Stock Exchange compare with those of a week ago as follow: —

DOLLAR CONVERSION RATES

United States and Canada

The Associated Banks have agreed that the conversion rates from January 23 will be:—

These conversion rates are. of course, ascertained on . a sterling basis (London funds) and therefore current rate of exchange New Zealand on London will be charged or allowed as the case may require. BORING FOR OIL Operations at Moturoa Fields A report on operations at the Moturoa Oil Fields, Limited, for the week ended January 20, received by the Stock Exchange Association on Saturday, slates that No. 3 well has been drilled to feet. The eight-inch easing has been inserted to 1886 feet. The formation is of mudstone containing bands of sandstone. No. 2.we1l has now been cleaned out to the bottom and screens replaced. The tubing and pump arc now being installed for resumption of production this week. DAIRYING IN DENMARK Rigorous Control of Industry How the dairy industry was controlled in Denmark was explained by Mr. 11. Kaier, Danish Vice-Consul for Leeds and Bradford, at the recent show of the Arthington Agricultural Society, England, of which' he is president. He pointed out that Denmark had solved the problem of getting all the benefit of private enterprise along with the advantage of collective organisations. There was a butter factory in each district of about five miles radius, and there were about 1700 factories at present, although in 1888 only 251 were in existence. The farmers took it in turns to cart the milk to the factory, where each farmer was credited with the weight of the milk delivered. Soon after delivery the farmers received part payment, and the profits were shared later, according to the amount of milk, each farmer had supplied. There was a very rigorous control service established by the Danish Ministry of Agriculture, which inspected all kinds of dairy produce and eggs, as well as meat and bacon, and live stock.

Jan. 21. , Jan. 19. Par. N. York. dol. to £ 3.35 5-8 3.34} 4.S66 Montreal, dol. to £ 3.844 3.85 4.8G6 Brussels, bel. to £ 24 7-32 24.184 33.00 Paris, fr. to £ 85 85} 124.21 Geneva, fr. to £ 1713-32 17.374 2o.22<) Amst’dam, fl. to £ 8.35 8.33 12.107 Milan, lire to £ 05 9-10 05 7-10 92.46 Berlin, inks, to £ 141-8 14.074 20.43 St’holm, knr. to £ IS 11-32 18.35 18.159 U'hagen, knr. to £ 1915-10 19 31-32 18.159 Oslo, knr. to £ 194 104 18,159 ■Vienna, sehgs. to £ *29 *28.5 34.585 Prague, knr. to £ .113 113 104.25 Heitors, inks. to £ 227 227 193.23 Madrid, pcs. to £ 40 15-10 41 — <J.__-J Lisbon, esc. to £ 110 110 110 Athens, drach. to £ 025 025 375 Belgrade, din. to £ 250 250 270.31 Bucharest, lei. to £ 505 505 813.60 Rio de J., p. to mil. *5 3-8 •5 3-8 5.899 B. Aires, p. to peso 42.5 42.5 47.62 M. Video, p. to peso *34 *30 51 Calcutta, p. to rup. 18 5-32 18 5-32 18 Shanghai, p. to tael 20 3-1C 20 1-8 — H.-Kong, p. to dol. 15 5-8 154 —— Y’hama. n. to yen 14 7-8 14 15-10 24.582 Batavia, gl. to £ 8.354 8.344 12.107 The South African pound is quoted at £99 to £100 per £100 sterling. 'Nominal.

Price. £ s' d Variation s d Consols. 22 p.c 72 12 6 7 0* War Loan, 3* p.c 98 5 0 o 0* Conyers. Loan, 3J p.c. .. 99 0 0 same Victory Bonds, 4 p.c. .. 108 0 0 same C’wealth, 5. 1945-75 ... 105 15 0 6 3t C’wealth, 6, 1931-41 ... 103 0 0 — ■* 6f C’wealth, 31. 1936-37 .. 99 17 6 12 6f Victoria, 3, 1929-49 .... 84 16 3 8 O'}" Victoria. 51, 1930-40 ... 102 15 0 r. Ot Victoria, 5. 1932-42 .... 102 15 0 17 Gt Victoria, 4-J, 1940-60 ... 102 0 0 0* N.S.W., 4, 1933 101 15 0 Of N.S.W., 3, 1935 9S 11 3 9f N.S.W.; 34, 1930-50 91 1 3 6 3t N.S.W., 64. 1930-40 .... 100 11 3 4 0* N.S.W., 6, 1930-40 101 1 3 12 6* Q’land, 5, 1940-00 100 12 6 Q’land, 3, 1922-47 85 15 0 20 Ot Q’land, 0, 1930-40 103 17 6 7 C* N.Z., 44, 1948-58 105 0 0 same N.Z.. 31. 1940 99 7 6 1 3* N.Z., 3, 1945 91 10 0 6 3* N.Z., 6, 1936-51 108 7 6 • 1 3* S. Aust., 31, 1939 98 2 6 2 6t S. Aust., 61, 1930-40 .... 101 2 6 o S. Aust.. 3, 1916 or after 75 0 0 o (it Tasm., 34. 1920-40 96 10 0 t> Ot Tasm., 3. 1920-40 93 0 0 same Tasm.. 61, 1930-40 101 5 0 7 6t W. Aust,, 31. 1929-35 .. 99 10 0 15 0t W. Aust., 3, 1915-35 .... 99 0 0 18 Of W. Aust., 6, 1930-40 .... 101 0 0 same iHiglicr. ’Lower. iEx interest.

U.S.A. Canada. Conversion of dollar bills received for collection and sale of dollar drafts .. .. 3.25 3.74 Purchase of dollar bills 3.45 3.94