THE WOOL MARKET

Dominion, Volume 26, Issue 105, 27 January 1933, Page 12

THE WOOL MARKET

London Sales Firm KEEN COMPETITION London, Jan. 25. Offerings at the wool sales to-day were 9326 bales, including 3261 New Zealand. Approximately 7640 bales were sold. Strong general competition prevailed, and fine merinos and crossbreds are now 5 per cent, dearer than they were at opening rates of this series. Realisations were as follow:—New Zealand scoured merino, “H. M. Oxford, 17d. highest, 16jd. average: greasy crossbred, “Hunt Hill,” 94d. highest. 7 3-Bd. average. Murray, Roberts and Co.. Ltd., are in receipt of the following cablegram from their London agents, dated January —J: —Sales continue with a good tone; competition keen and general; greasy merino medium to good opening rates are barely maintained; crossbred greasy medium and coarse opening rates are barely maintained ; all other descriptions of wool, market very firm. SYDNEY WOOL SALES This Week’s Prices Sydney, January 26. Wool prices current for this week's market are as follow:—Merino fleece, best to 213 d, greasy mtrino fleece, best 15d. to 17d, good 13d to 14d; average, lid to 12(1. Superior merino fleece, light in seed or burry, and skirts, good lljd to 12Jd; average lOd to lid, inferior 64(1 to 94d. Lambs, best sold to -15 d. Fine comebacks to 13Sd. Sydney woolbrokers report that the average of the week’s sales was £ll/14/5 per bale, or 9d per lb. Wanganui Wool Prices Dominion Special Service. Wanganui, Jan. 25. Annoyance that the price of wool had been reported higher than last year, whereas there was no real rise in prices, was expressed by Mr. T. Currie, president of the Wanganui executive of the Farmers’ Union, at a meeting held yesterday. Mr. Currie said that after the Wanganui sale a local stock firm had given him a good indication of the state of the wool market. . In January. 1932, wool sold in Wanganui by 'this firm had realised £7/9/11 a bale. The sale held during the present ‘month had realised £6/15/6 a bale. The price per pound last yeitr had been 4.82 d, and this year 4.45(1. “So where is the rise in wool?” said Mr. Currie. “There has certainly been a rise since last March, but not on the prices received this' time last year. The reports have rather annoyed me, because it gives a false impression, hoth to the town and country people. When I was in Wellington, one woolbuyer told me that he had bought wool at'fil per bale less this year than last.”

FOREIGN EXCHANGES Latest Quotations Compared London, Jan. 25. The following rates on foreign exchanges were current to-day, compared with those ruling on January 24:— ■

The selling- rate for telegraphic transfers. London on Cape Town, is £99/17/6 for £lOO sterling, and the buying rate £lOO/17/0. Gold and Silver. London, Jan. 25. Gold.—£6/1/14 per fine ounce. . Silver.—Cash, 17 1-IGd, per ounce; forward, 17 l-Bd. Dollar Conversion Rates The Associated Banks have agreed that the conversion rates from January 25, 1933. will be: — U.S.A. Canada. Conversion of dollar bills received for collection and sale of dollar drafts .... 3.29 3.82 Purchase of dollar bills .. 3.49 4.02 These conversion rates are. of course, ascertained on a sterling basis (London funds) and therefore current rate of exchange New Zealand on London will also he charged or allowed as the case may require. Customs Exchange Rates Rates of exchange ruling at the announced date of departure of the vessels named are shown in the following table. They are. subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand,’ finally declared rates being marked* :■— Golden Harvest, America, dollars .. 3.32} Canadian Victor, Canada, dollars .. 3.82 Aorangl, America, dollars *3.33 Aorangl, Canada, dollars *3.77 Brisbane Maru, Japan, yen 15d. Hauraki. America, dollars 3.35} Arden,vohr, America, dollars 3.33 Monterey, America, dollars 3.35} FRUIT AND VEGETABLES Wellington Market Prices There was a better demand at yesterday morning’s sales for tomatoes and all stone-fruits, and prices are now more normal, report W. Burbidge and Company. There are large stocks of Gravensteins, cooking apples, and William pears on hand, and the demand is dull. Potatoes are selling well at better prices, and new laid eggs arc fifm with a tendency for the price to go up. Current' prices are as follow: — Apples: Astrakhans. 1/9 to 2/3: Gravensteins, 2/- to 2/9; cookers, 1/6 to 2/3 : William pears, 1/9 to 2/3, Peaches: American Champion, 3/9 to 4/0; Wiggins, .4/- to 5/-; Carmen, 3/9 to 4/6. Plums: Ogons, 2/9 to 3/6; Burbanks, 2/6 to’3/6; Blue Diamonds, 3/6 to 4/-; Sultans, 3/6 to 4/-. Nectarines, 3/9 to 5/-; greengages, 3/10 to 5/-. Nelson tomatoes, green, 3/6; coloured, 4/- to 4/0; ripe, a/- to 5/6. Qtago apricots, 4/- to 5/-; all these per half-case. Raspberries, 3/6 to 4/- p.er tin. Local potatoes, 3/6 to 4/6 per bag: Pukekohe onions, 4/- to 4/6 per bag; new laid eggs, 1/3; seconds, 1/1 to 1/2 per dozen; separator butter, 7d. per lb.; New Zealand walnuts, 5Jd. to 6d. per lb.

Jan. 25. Jani 24. Par. •N. York, dol. to £ — 3.38 7-8 4.866 Montreal, dol. to £ —. 3.921 4.866 Brussels, tool, to £ 24.453 24.505 35.00 ■Paris, fr. to £ 86 8’7 124.21 Geneva, fr, to £ 17.45 17.555 25.225 Amst’dam, fl. to £ 8.45 8.465 ' 12.107 ■Milan, lire to £ 66 7-10 06 9-16 92.40 .Berlin, mks. to £ —— 14 9-32 20.43 ■St’liolm, knr. to £ — 18.355 18.159 C'hagen, knr. to £ 1615-16 1915-16 18.159 Oslo, knr. to £ 10.50 ' 19.50 18.159 Vienna, schgs. to £ *29 ♦29 34.585 Prague, knr. to £ 113.625 114.625 164.25 Hel’fors, mks. to £ 226.50 226.50 193.23 Madrid, pes. to £ 41.375 41 7-16 Lisbon, esc. to £ 110 110 no~ Athens, drach. to £ 600 • 600 375 Belgrade, din. to £ 250 250 276.31 Bucharest, lei. to £ 570 567.50 813.60 Rio de J., p. to mil. ♦5 3-8 *5 3-8 5.899 B. Aires, jp. to peso ■ „„ ,47.62 ,M. Video, p. to peso ♦34 ♦34 ‘51 ■Calcutta, p. to rup. 18 5-32 18 5-32 18 Shanghai, .p. to tael 201 20 7-16 —— II.-Kong, ip. to dol. 15J 15} — Y’ihama, p. to yen 151-16 151-32 24.582 Batavia, g. to £ — 8.431 12.107 "Nominal.