ACTIVE COMPETITION

Dominion, Volume 29, Issue 302, 17 September 1936, Page 14

ACTIVE COMPETITION

London Wool Sales Open CROSSBREDS ADVANCE By Telegraph—Press Assn. —Copyright. London, September 15., The September series of wool 'ales have opened with good Bradford and Continental competition. Merinos are unchanged, but_erossbreds are dearer, fine crossbreds by a P er cent, up, and coarse by 5 to 10 per cent, un on last sales’ closing rates. Offerings were 10.630 bales, ot which 5241 were New Zealand. Sales were 9063 bales. . . . The offering was ti good selection, and it met active competition except for low greasy wools which were frequently withdrawn. A good clearance was effected The home trade secured the bulk of the merinos, prices for which were unchanged. Crossbreds were 7} per cent, dearer than at the nosing prices of the last series. New Zealand scoured merinos, "HM over Oxford,” made 24d. per lb. top price and 22 7-Bd,' average; slipe halfbred lambs. “Belfast,” sold 18}d. highest and 14}d. average. The following cabled reports on the opening sale of the London series were 1 received yesterday by Wellington houses . Bank of New South Wales. —London wool sales: Good and general competition. Merinos same as last sale’s close, crossbreds 5 per cent, to 7} per cent., slipes 5 per cent, dearer. Average or estimated prices of New Zealand greasy fleece ordinary top-making wools:— d. Merino 60/64 .. 12| Fine halfbred 56/58 .... 13} Half bred 50/56 11 Three-quarterbred 48/50 . 9} Fine crossbred 44/46 .... 9} Medium crossbred 44/46 . 9 Crossbred 40/44 ;.. 9 Bank of New Zealand, Produce Department.—The sales have opened with strong competition and large attendance of buyers. There is an active demand by Home and foreign buyers. Compared with the close of last series, , prices for merinos are unchanged; fine crossbreds |d. per lb. higher, medium and coarse crossbreds }d. to id. per lb. higher. Murray, Roberts and Co., Ltd. —Sales have opened with a good tone; competition keen; Bradford buyers principal operators; Continental buyers doing almost nothing. Compared with last London sales’ closing rates, greasy merino, poor selection offered; wool suitable for Yorkshire, par to 5 per cent, advance: wool suitable for the Continent, pnr to 5 per cent, decline; scoured merino market firm; crossbred greasy fine advanced 5 per cent.; crossbred greasy medium advanced 5-7} Per cent.; crossbred greasy coarse and scoured crossbred advanced_s per cent.; slipe crossbred advanced 5-7} per cent. Levin and Co., Ltd.—The auctions opened here to-day with a large attendance of Home and Continental buyers. There is good general competition, particularly from the Home trade. As at present arranged the sales will close on September 25. Compared with the closing rates of last sale we quote: Greasy merino, best unchanged, average unchanged ; fine halfbreds 50/56’e, }d. per lb. higher; extra .fine crossbreds 48/50’s, }d. to }d. per lb. higher: fine crossbreds 46/48’s, }d. to id. per lb. higher; medium crossbreds 44/46’e, }d. to fd. per lb. higher; coarse crossbreds 40/44’s, }d. to }d. per lb. higher; low crossbreds 36/40's, }d. to id. per lb. higher; slipes, mediums and coarse, par to 5, per cent, higher; slipes, halfbred lambs, par to 5 per cent, higher. Scoured merinos, good demand, prices firm. ■» Dalgety and Co., Ltd. —Wool sales opened with' good general competition. Average selection; good attendance. As compared with closing rates last series: Greasy merino: Unchanged. Scoured merino: Unchanged. . Greasy halfbred: }d. to id. higher. Scoured halfbred: Unchanged. Greasy fine crossbred; }d. higher. Greasy medium and coarse crossbred: sd. to Id. higher. Scoured crossbred: }d. to Id. higher. Slipes: }d. to Id. higher. Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd.: —As compared with closing jates of the July series, slipe wool is 5 per cent, higher. Australian merino wool fully firm, anil crossbred wool 5 to 74 per cent, higher. Sales opened before an average attendance of buyers, among whom competition was animated. Continental and Bradford buyers were the .chief operators. An average selection of wool was offered. M e quote the following average realisations: d.

N.Z. Loan and Mercantile Agency Co., Ltd.:—London wool sales: There was a gond attendance at the opening of the sales to-day, competition by Home buyers being active, and the opening catalogues were representative. As compared with last sale's closing rates prices are about the same for merino and Jd. to Id. per lb. higher for crossbred. N.Z. Farmers’ Cor.op. Distributing Co.. Ltd.: Wool sales opened to-day. Good attendance and keen competition. Home and Continental buyers operating freely. Prices, compared with close of last series (July), are:—-Greasy merino, par; scoured merino, par to 4(1. up: fine crossbred, par to 4<T. up; medium and coarse crossbred, Id to jd. on: stipes. 4d. up. Antwerp Wool Futures Antwerp. September 15. A 00l futures are quiet. ,/notations : October. 27}d.: December. 271 <l.: March. 271 d I'lie quotations on September S' were: -October, 27 1-B<l. : December 27 1-Sd.: March 271'1 The prims are for 64 s tops, dry combed Pukemiro Collieries Dividend Dominion Special Service Auckland. September 16. A net profit of £5256, after reserving £3850 foi income tax, and providing £2391 for depreciation, in the account* of Pukemiro Collieries Ltd for the year ended August 31 Thi«? compares with a n««l profit ««' £SS(»i» last year and a loss of £5025 in 1934. The directors rocomineiid a (hint divi (lend of 3| per cent... making 6 per cent, for the year, an unchanged rate. The amount brought in from the previous* year’s account is £36.311. making £41.567 available. The year'o dividend alifiorbs £6ooo?leaving £35.567 tn be carried forward. Australian Price of Gold The price fixed by the Commonwealth Bank for gold, including jewellery, lodged at the Melbourne Mint for the week ended September 4 was at the rate of approximately £7/17/3 per standard ounce (22 carats), equal to a premium of 101.96 per cent. Payment is made according to the assay value of gold. The price was Idown 3Jd. on the week. The price per ounce fine was £B/11/7, which wag ojd. lower on the week.

Greasy merino, 60/04, yielding 48 per cent • • 12J Greasy fine halfbred, 56/58, yielding 132 62 per eent . Greasy halfbred, 50/56, yielding 68 per cent • • • Greasv three-quarterbred, 48/50, 11 yielding 74 per cent .... Greasy fine crossbred, 46/4S, yield9t ing 75 per cent Greasy med. crossbred, 44/46, yielding 75 per cent •»••••* Greasv crossbred, 40/44, yielding 9 76 per cent Greasy coarse crossbred. 36/40. 9 yielding 76 per cent. ......... Crossbred lambs. 46/50, yielding 74 SI per cent 10-J