SPIRITED SALES

Evening Post, Volume CIX, Issue 116, 19 May 1930, Page 14

SPIRITED SALES

Messrs. Levin and. Co., Ltd. have received the following cable from their London agents, dated 17th May:—"The auctions are proceeding with -great spirit. There'is a hardening: tendency -in the market As at present arranged sales will close on 30th May. ~ The following prices are current:—Merino, : super 14d per lb, average U'/ad-to 12d; -fine half bred, super 56/58's 13d to 14d, average. 12% dto 13d; medium, super 50/56's 12%d,t0 13% d, average ll%d to 12% d; coarse, super 48/50 s ll%d to 12d, average lid to IHfed; fine crossbred, super 46/48's lid to lßid, average 10% dto lid; medium, super 44/46 s 10% dto lid, average lOd to 10% d; coarse, super 40/44's IOVSd to lid, average 9%d to IOV-d: low, super 36/40's, lO'/ad, average 9V2d-to 10d; pieces, 7%d to 9%d; bellies, 7d to 9d; locks, 4d to 4 J/2d." CROSSBRED MARKET IMPROVES. The Bank of New Zealand (produce department) has'received the following advice from its London Office, under date 17th May:—"Compared, with close of last series, greasy merinos are about one penny dearer. Compared with the prices at opening of May series, medium and coarse crossbreds are .now halfpenny higher." AUSTRALIAN SALES. The following' statement, compiled by the National Council of Wool Selling-Brok-ers of -Australia, covers the receipts of the 1929-30 clip into store, the total disposals to 30th April last, and the balances in store awaiting , sale: —Receipts, 2,463,283 bales; sold, 1,913,841 bales; in store, 549,----442 bales. The.figures indicate that Australian wool growers are endeavouring to meet the market and clear stores for new season's wool. » A BONUS REDUCED. The Melbourne stock and station firm of Youngliusband, Ltd., in which some New Zealand shareholders are interested, after providing for bad and doubtful debts, depreciation, etc., shows a net profit .for the 'year of £30,564. The profit last year was £54,041. As £17,----781 is brought forward, there is available £48,345. Dividend for the year is again 10 per cent., but the bonus distribution is at the rate of 2% per cent., against 5 per cent, paid in 1928-29. The total wool sold by the company for the year was 58,795 bales. Capital and reserves are unchanged. The directors in their report state that the decline in wool values during the year affected the earnings.