FIRM WOOL MARKET

Dominion, Volume 27, Issue 59, 2 December 1933, Page 10

FIRM WOOL MARKET

London Competition Keen PRICES FULLY MAINTAINED By Telegraph.—Press Assn. —Copyright. London, November 30. Offerings at the London wool sales were 10,013 bales, including 4941 bales New Zealand. There was brisk Home and Continental competition. All the liner growths realised full rates, but there were frequent withdrawals of inferior sorts. Sales included New Zealand scoured merinos, “Ot.ipua,” 30Jd highest,. 281(1 average; halfbred lamb slipe, 22d highest. 17d average. The Bank of New Zealand, Produce Department, has received the following advice from its London office under date November 30: —Though offerings are rather inferior, competition continues very keen, with prices fully maintained. Murray. Roberts and Co.. Ltd., are in receipt (if the following wool market cablegram from their London agents. November 30:—Sales continue with a good tone. Less Continental competition. Greasy merino, wool suitable for Continent'. market irregular: declined 5 per cent. Scoured merino market shows a hardening tendency. Crossbred scoured market shows a hardening tendency. BRADFORD TOPS Crossbred Market Firm London, November 30. The advance in merino tops on the Bradford market has been checked, but fine and medium crossbreds are firm. To-day’s quotations, compared with those previously cabled, are as follow: Nov. 9 Nov. 16 Nov. 23 Nov. 30 Per lb. Per lb. Per lb. Per lb.

Australian Wool Sales By Telegraph.—Press Assn.—Copyright. Geelong, December 1. The Australian merino wool record price of 331 d was equalled at Qeelong wool sales. Lambs’ wool sold to ~7<I t the Australian record for this season. Brisbane. December 1. The Brisbane wool sales have closed, with prices firm. Scoureds sold to 3ud, and greasy to 241(1. HIGH PRICES WILL HOLD London Woollen Firm’s View That high prices for wool will hold more or less throughout the season is the view expressed by the Jaeger Company, Ltd., of London, in a letter dated October to a well-known Wellington firm which specialises iu men’s wear. The Jaeger Company enclose with their letter an interesting graph from the Weekly Wool Chart, which shows the pronounced upward trend in the prices of wool tops since last March. Taking 64’s, “the recognised quality for the medium and better end of the trade,” as a basis, the Jaeger Companystate:—“The quotations are for ‘tops, which, as you know, is wool after it has been washed and combed, ready for spinning. You will note that in February and Marell the price was approximately 21 jd., and has risen to 33Jd. An appreciable rise, therefore, in the prices of both wholesale and retail goods is eventually bound to take place. “Whether the present price of (ops is altogether justified or not, there is no surplus of merino yarns; in fact, there is a definite shortage. There are various reasons for this; one being that Japan for the last 18 months has been one of the biggest buyers of raw wool and has increased her imports something like 100 per cent. Another is that for some time now wool has been sold at prices which have been unprofitable to the grower, allowing garments made of better quality yarns to be offered to a larger market; lienee an increased consumption. In addition to these facts, both this year’s Australian and South African clips are down considerably. “The general opinion is, therefore, that high prices will more or less hold throughout this season, and, al though there may be a reaction in the spring, it is very unlikely that they will fall to last March values.” N.Z. LOAN AND MERCANTILE No Dividends Being Paid By Telegraph.—Press Assn.— Copyright Loudon, November 30. The New Zealand Loan and Mercantile Agency Co., Ltd., after transferring £50,000 from reserve, has a profit balance of £76,573 for the year ended June 30, 1933. The amount brought forward was £18,551. Interest on debentures absorbs £68,000, leaving £27.125 to be carried forward. The New Zealand Loan and Mercantile Agency Company Ltd. has paid no dividend on the ordinary stock since 1929-30, when 4 per cent, was distributed, and dividends on £1.500,000 preference capital are also in arrears. For the year ended June 30, 1932, the company showed a loss of £50.441, after providing for debenture interest, which compared with a loss nearly three times as large in the preceding year. London Stock Exchange By Telegraph ■ I’ri-s- Assn -fonynzlo London. November «O. Sales on London Stock Exchange:—P. and O. deferred. 17/33 ; Lyell, 17/6; New Guinea Gold, 5/-. Bell Kilgour Gold Mining Co. The secretary of the Bell-Kilgour Gold Mining Co., Ltd., reports that development work in the mine is being pushed on as rapidly as possible. The mam drive is now driven 490 feet, leaving about 270 feet to go to the northern boundary. The wash rose, and for some distance the drive was under the wash. It has now started to dip again and is showing in the face of the drive. The wash treated during the week ending November 24 produced 16oz. lOdwt. 2gr. Overseas Grain Markets London, November 29. Wheat market : Australian cargoes were freely offered to-day al late rates. The demand was inactive. Manitoba parcels were threepence to sixpence dearer, but others were unchanged. Trading was dull. Futures: London. December. 18/9 a quarter; February. 18/10: April. 19/1. Liverpood. December, -1/2 7-8 a cental; March, 4/61 ; May. 4/7 7-8. The spot trade is fairly active. Australian, ex ship, 24/6 to 25/- a quarter. Flour is quietly steady. Australian, ex store, 18/- to 18/6 a sack. Dais and barley are steady, and pens and beans arc quiet. . ‘ Melbourne. December 1. Wheat, 2/8 per bushel; flour, £7/10/ppr ton; bran. £4/10/-: pollard. £•': 2/4 per bushel barley. 3/-: maize. 4/- to 4/3. Onions, Spanish, Easter, £1 per ton; Globes and Silverskijw, £3/o/- to £3/IU/-*

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