FIRST WOOL SALE

Dominion, Volume 30, Issue 63, 8 December 1936, Page 14

FIRST WOOL SALE

To-morrow’s Wellington Offering PROSPECTS BRIGHT Prospects are very bright for the first Wellington wool sale of the 1936-37 season, which will be held in the Town Hall to-morrow, starting at 9 o'clock. Recently it was found necessary to increase 'he limit of 28,000 bales originally fixed by the New Zealand Wool Committee, and the total offering now amounts to 30,068 bales. It is confidently expected that 4i very strong market will rule, and that this large offering will he cleared with out difficulty. Expectations are that prices will rule fully firm on the high rates established at Auckland and Napier, and that the sale will move under strong competition from Japan and America. Following arc the offerings of the seven selling brokers in order of sale: —- Bales. Dalgety and Co., Ltd 4709 Murray, Roberts and Co., Ltd. .. 4066 Levin and Co., Ltd 7451 N.Z. Loan and Mercantile Agency Co., Ltd .... 3715 N.Z. Farmers' Co-operative Distributing Co., Ltd 5211 Wairarapa Farmers' Co-op. Association, Ltd 674 Wright. Stephenson and Co.. Ltd., and Abraham and Williams, Ltd 4242 Total 30,068 FOREIGN EXCHANGE Position of Sterling By Telegraph.—Press Assn.—Copyright. London, December 5. The following mean closing rates on foreign exchanges were current to-day compared with those ruling on December 4.—

tPar, 8.23 31-32 since dollar devaluation on February 1. 1334. Gold mid Silver. London, December 5. Gold.—£7/1/114 per ounce, fine. Silver.—Spot, 21 5-16 d. an ounce; forward, 21 5-lfld. On New Zealand Currency Basis The Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchange yesterday:—

The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday o n n New Zealand currency basis. They are subject to alteration without notice.

N.Z. Pound Abroad Based on the figures quoted by .the Bank of New South Wales the New Zealand pound, compared with its original par value, is equivalent to approximately:— 16/1 in London. Cl/0/1 in Australia. 16/14 in U.S.A. 16/14 in Canada. 13/6j in Franco. 16/14 in Italy. 9/6 in Germanv. 11/9? in .lava. £l/8/34 lii .Japan. Tallow, Hemp and Eggs The Department of Agriculture has received the following cablegram, dated December 5. from the High Commissioner for New Zealand, Loudon :— Tallow—Fair demand at. auction ; 36S packages offered, chiefly old parcels with high limits: bidding for inferior sorts about 1/- dearer. 58 sold. Hemp—Manila : Good business has been done, but shippers’ offerings "K" grade and lower grades scarce. “K” grade sold for December-February shipments at £3l/10/-. Sisal ; Jlarket steady; fair business done. .Tanunry-March shipments sold at £27. New Zealand: Small business has been done; December-Janu-ary “fair,” £23; “common.” £22; Novem-ber-December shipment, “rejected.” £2O Eggs—Market quiet. English, nntion.il pack. 18/6 to 24/-; English, ordinary pack, IS/6 to 10/6: Danish, 14-171 b. per long hundred, 12/- to 16/-; Australian, 8/6 to 12/3. Australian Price of Gold The price fixed by the Commonwealth Bank for gold, including jewellery, lodged at the Melbourne Mint for the week ended November 27, was at the rate of approximately £B/1/8} per standard ounce (22 carats), equal to a premium of 107.63 per cent. Payment is made according to the assay value of gold. The price was •Id. lower on the week. The price per ounce fine was £B/16/4}, which was down 4}d. on the week.

Dee. 5. Dec. 4. Pa r. X. York. dol. to £ 4.89} 4.90 1-16 14.800 .Montreal, dol. to £ 4.S9 5-8 4.90 1-8 4.806 Paris, fr. to £ 105 9-04 105 9-32 124.21 Brussels, bel. to £ 28.955 28.97 48.011 Geneva, fr. to £ 21.31} 21.325 25.225 Amst’dam. fl. to £ 9.01 9.01 12.107 Berlin, inks, to £ 12.17 12.18 20.43 St'holm, knr. to £ 19.395 19.395 18.159 C'hagen, knr. to £ 22.40 22.40 18.159 Oslo, knr. to £ 19.90 19,90 18.159 Vienna, schgs. to £ 20.5(1 20.50 34.585 Prague, knr. to £ 138.025 138.025 164.25 Hel’fors, inks, to £ 22(1.75 75 193.23 Madrid, pes. to £ - — 25 225 Lisbon, esc. to £ 110 3-14 ! 110 3-16 110 Milan, lire to £ 93 3-16 93.125 92 Athens, Orach. to £ *517.1 ‘5471 375 Bucharest, lei to £ *0674 ‘6671 813.00 Belgrade, din. to £ 213 213 276.31 Bio de J., p. to mil. f4i Ni 5.899 B Aires, p. to peso — 47.02 M. Video, p. to peso *39 7-8 *39 7-8 51 Calcutta, p. to rup. IS 1-8 18 1-8 18 Shanghai, p. to dol. 14 9-10 14 17-32 H.-Kong, p. to dol. 14 15-16 14 15-10 —— Y'hatna, p. to v pii 13 29-3’- ! 13 61-04 24.582 Batavia, tl. to £ 8.975 8.975 12.107 ■(■Sellers, official . ‘Sellers.

New Zealand Buying Selling on London T.T. 124 124/10/£X.Z. to £ stg. 100 O.D.123/10/ 124/8/9 Australia T.T. — — £A to £N.Z. 100 O.D. 101 100/10/Fiji T.T. — —. £F Io £X.Z. 100 O.D. 90/7/1 SO Xew York T.T. 3.00} 3.925 Doi. to £X.Z. . O.D. 3.971 3.93| Montreal T.T. 3.0111 3.928 Doi. to £X.Z. . O.D. 3.978 •• <).*! 4 Austria T.T. — 20.55 Seligs, to £X.Z. O.D. — 20.57 Belgium T.T. — 23.124 Bel. to £ X.Z. . O.D. — 23.135 Czechoslovakia T.T. — 11(1.43 Crs. to £X.Z. . O.D. — 110.48 Denmark T.T. 18.203 17.893 Kr. to £X.Z. . O.D. 18.263 17.903 France T.T. — 84.20 Frs. to £X.Z. . O.D. — 84.30 Germany T.T. — 9.705 MIcr. to £N.Z. . O.D. — 9.710 Holland T.T. — 7.1S9 FIs. to £X.Z. . O.D. — 7.193 Italy T.T. — 74.59 Lire to £X.Z. . O.D. — 71.64 Java T.T. — 7.153 FIs. t<, £X.Z. . O.D. — 7.157 Xorway T.T. 1(1.181 15.891 Kr. to £N.Z. . O.D. 16.241 15.901 Sweden T.T. 15.785 15.190 Kr. to £ X.Z. . o.D. 15.845 15.500 Switzerland .... T.T. — 17.037 Ffr. to £N.Z. . O.D. — 17.042 Xoutnea T.T. — 82. S9 Frs. to £X.Z. . O.D. — &2 Oil Papeete T.T. — 83.04 Frs. to £X.Z. . O.D. — 83.10 Hong-Kong .... T.T. IS 2304 18 55-04 N.Z. (1. to 1 Doi. India and Ceylon O.D. 1S 21J4 18 27-32 T.T.. 22J 22 21 -32 N.Z. d. to 1 Riip. O.D. 22 1132 22 41-04 Japan T.T. — 173 N.Z. d. to 1 I on O.D. — 17 23-04 Shanghai T.T. 17 5104 IS 19-04 X.Z. d. to 1 Doi. O.D. 17 40H 18 9-32 Singapore T.T. 34 23',2 35 13-64 X.Z. d. to 1 Doi. O.D. 348 35 3-10 Chofoo T.T. 17 5164 IS 27-04 X,Z. cl. Io 1 Doi. O.D. 17? 18 13-32

r.S.A. Doi. Canadian Doi. Sellintr (Per £1 N.Z.) (Per £1 N.Z.) T.T. 3.922 .3.921 O.D. 3 3.J* 3.93' Buyins O.D. 3.!) 7?