LONDON WOOL SALES

Dominion, Volume 32, Issue 92, 12 January 1939, Page 12

LONDON WOOL SALES

N.Z. Shipments Available

FAIR DEMAND EXPECTED ,

Bv Telegraph.—Press Asen.—Copyright.

LONDON, January 10. Tlie first of the 1939 series of London wool sales will commence on January li and conclude on February 2. . The catalogue for the series totals 110.500 bales, including 45.700 bales ot New Zealand wool and 6630 bales ot Australian.

Dalgety and Co., Ltd., report that the list of arrivals for the wool sales opening on January 17 closed on January 9. lhe following vcfitseld in which they are interested have arrived in time: Tamaroa, Maliia and Arawa. Dalgety’s selling dates are January 17, IS, 23 and Li and February 1 and 2. Sales cloese on !■ ebruary 2. . . , , 2 A fair demand is anticipated, but no important change in prices. The New Zealand Loan and Mercantile Agency Co., Ltd., received the following advice from their London hou«e: London wool sales, first series (1939), commencing January 17: List closed; Dunedin Star, Rangitiki and Doric Star shipments from New Zealand available. Antwerp Wool Futures Market Bv Telegraph.— Press Assn. —Copyright. LONDON, January 30. The Antwerp wool futures market ,is quiet. Today’s quotations compare with those cabled previously as follows: —- Jan. 3. Jan. 10. d. d. January 23 — February — — 5 May 23J 22j July 23J 23 J FOREIGN EXCHANGES Position Of Sterling " — . mi.. ■■ .British Official Wireless.) LONDON. January 10. The following mean closing rates on foreign exchanges were current todaycompared with those ruling on January 9: Par. Jan. 9. Jan. 10.

LONDON. January 10. Gold.—£7/9/- an ounce, fine. Silver.—Spot, 20 5-10 d. an ounce; for-

ward, 19 15-l Gd. On New Zealand Currency Basis The Bank of New South Wales. Wellington, quoted the following rates for their purchases and sales of foreign exchange

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

WHOLESALE PRICES

International Trend

Latest statistics of wholesale prices in Great Britain, the United States of America, France ami Australia provide little justification for an optimistic forecast of future movements, says the latest circular of the Bank of New South Wales. Except in two series, the primary products index of the United States and the French index of wholesale prices, downward trends, almost uninterrupted in some cast's since about March last year, have continued to the latest dates for which statistics are available. Of the two exceptions, the United States primary products index shows a very small upward movement in the last few months shown on the graph and the French index of wholesale prices shows a slightly more distinct upward turn. It cannot at once be assumed, however, that prices and business in the United States will continue to move definitely upward ; the slight upturn in the graph of the primary products index fails to free it from the appearance of stagnation which has persisted during the last six months, and in any case the complete index of wholesale prices has maintained a steady decline. But in France it seems reasonable to assume that the modification of the 40-hour week has probably stimulated business activity to raise the index of wholesale prices, which shows a comparatively steady upward trend. With the exception of Franco, wholesale prices in the countries mentioned on the lower chart continue io be unsatisfactory. 'l'he roughly parallel slopes ol the graphs for the United States and Great Britain show that prices in both countries are declining at about eqiini rates; further, the rate of decline has been almost unchanged since March of last year in the case of Groat Britain, and since September of last year in that of the United States.

N. York, dol. to £ 4.8(16 4.1374 4.664 Montreal, dol. to £ 4.866 4.714 4.714 Paris, fr. to £ 121.21 177 1 -10 177 11-64 Brussels, bel. to £ 48.011 2 i .(>7 27.654 Geneva, fr. to £ 25.225 20.67$ 20.67 Ainst'dam, fl. to £ 12.107 8.58$ 8.594 Berlin, inks, to £ 25.43 11.(55 11.65* C'hagen, knr. to £ 18.150 22.40 22.40 St’holiu, knr. to £ 23.43 19.42 19.42 Oslo, knr. to £ 18.159 19.90 19.904 Heis'kl, inks. to £ 193.23 226.75 226.75 Prague, knr. to £ 134.25 13(5.50 136.50 Madrid, pes. to £ 25.225 — 200 Lisbon, esc. to £ 100 110 3-16 110 3-16 Milan, lire to £ 92 83.75 88.875 Athens, drac. to £ 375 >47.50 547.50 Bucharest, lei to £ 813.00 □60 660 • Belgrade, din. to £ 270.31 208 208 Rio de J., p. to mil. 4.99 84 3 1-16 B. Aires, p. to pesa 47.02 10 19 M. Video, p. to peso 01 20.215 20.394 Calcutta, p. to rup. 18 17 59-64 , 17 15-16 Shanghai, p. to dol. 18 84 11. Kong, p. to dol. — 15 15 Y’hama, p. to yen 24.582 14 14 Batavia. 11. to £ 12.1(17 8.58 8.564

yesterday: — New Zealand Buying. Selling. on London T.T. 124/7/0 125 £N.Z. to ~stg. loo O.D. 123/18/9 124/19/6 Australia T.T. 100/10/100 XIA to £N.Z. 100 O.O. 100/10/100 Fiji T.T. 90 88/12/6 . £F to £N.Z. 100 O.D. 90 88/12/6 New York T.T. 3.7727 3.7200 Ilol. to £N.Z. . O.D. 3.7777 3.7210 Montreal T.T. 3.8072 3.7470 Doi. to £N.Z. . 0.1). 3.8159 3.7480 Belgium T.T. 22.427 21.887 Bel. to £N.Z. . O.D. 22.502 21.802 Czechoslovakia .. T.T. — 106.83 Krs. to £N.Z. . O.D. — 106.S5 Denmark T.T. 18.227 17.695 Krn. to £N.Z. . O.D. 18.287 17.697 Finland T.T. 186.23 176.08 Mks. to £N.Z. O.D. 186.63 176.18 France T.T. 144.58 139.58 Frs. to £N.Z. . O.D. — 139.60 Germanj’ T.T. — 9.167 Mks. to £N.Z. . O.D. — 9.169 Greece T.T. —— 418.90 Drac. to £N'.Z. . 0.1). — 419.05 Holland T.T. 7.028 <1.773 FIs. to £N.Z. . 0.1). 7.068 6.775 Italy T.T. — 70.56 Lire to £N.Z. . O.D. — 70.58 Java T.T. 7.001. 6.741 FIs. to £N.Z. . O.D. 7.041 6.743 Norway T.T. 16.209 15.712 Krn. to £N'.Z. . O.D. 16.269 15.713 Noumea T.T. 149.58 130.08 Frs. to £N.Z. . 0.1). • 136.12 Papeete T.T. 148.38 136.38 Frs. to £N.Z. . O.D. — 136.42 Swollen T.T. 15.839 15.337 Krn. to £N.Z. . O.D. 15.899 15.340' Switzerland T.T. 1(1.806 16.341 Frs. to £N.Z. . O.D. 16.911 16.343 Chefoo 'r.T. 12 13-32 N.Z.'d. to Doi. . 0.1). — 1213-32 Hong Kong T.T. 18 27-64 19 5-6-1 N.Z. d. to Doi. . 0.1). 18 25-64 1!) 5-64 India and Ceylon T.T. 22 9-6( 22 41-64 N.Z. d. to Hup. O.D. 22 7-64 22 41-64 1745-64 N.Z. d. to Yen . O.D. — 17 45-64 Manila T.T. 31 25-64 32 35-64 N.Z. d. to Peso . O.D. 3119-64 32 35-64 Shanghai T.T. — 11 15-16 N.Z. d. to Doi. . 0.1). — 11 15-16 Singapore T.T. 34 27-64 35 17-64 N.Z. d. to Doi. . O.D. 34 23-64 3517-61

U.S.A. Canadian dollars. dollars. Selling— (Per £N.Z.). (Per £N.Z.). T.T. 3.71S 3.74} O.D. 3.71} 3.75} Buying— O.D. o. i I S 3.80}