WOOL POSITION

Evening Post, Volume CXVI, Issue 104, 30 October 1933, Page 12

WOOL POSITION

CONTINENTAL MARKETS

LOW QUOTES FOR COARSE WOOLS

United Press Association—By .Electric Telegraph—Copyright. (Received October 30, 10 a.m.) LONDON, October 29. Mr. W.P. Devereux, representative of Australian wool growers in London and on the Continent, advises that in sympathy with the firmer tendency in overseas markets for the fine wools these have rather appreciated in price, but low quotations from South America for coarse crossbreds has been a somewhat disturbing influence for wools of these descriptions. There is a sound tone in Bradford for merino tops, and topmakers have again advanced their prices. Spinners are reluctant to follow, but a satisfactory amount of new business has been transacted. Fine crossbred tops have also advanced, and business has been done on higher levels. Medium and low crossbred tops have also improved, but not much new business is reported. Increased activity is displayed in German markets, and sales of tops have been substantially increased. The Continental wool futures markets are also fairly active. WOOL FOR RUSSIA. The "Textile Mercury," Bradford, states: "One development which has aroused a good deal of interest locally has been the sale of a substantial weight of fine scoured wool —over half a million pounds— on Russian account. It is understood that the business has been put through a German firm. There has also been a direct transaction iv wool with Russia, and there is reason to believe that if the present negotiations between the Soviet and the British Government for a new trading agreement are brought to a successful conclusion, there will be a good deal of buying done in this country for Russian "account." PRICE AND" RETURN Sales reported and made on the Stock Exchanges of the Dominion on Saturday, with the highest prices and the approii mate, yields per cent per annum to in . restore (all subject to appropriate taxe* and exchange, where operative), bated on the. last annual dividends and bonuses, if any, and including redemption and brokerage in the case of redeemable securities where dated, were aa follows:— Highest Yield price, p.c, p.a. £ s. d. £ 8. d. Wellington. Comm. Bank of Aust. 017 0 218 10 Auckland. Waitemata County, 5% p.c a.v. 100 0 0 510 0 Bank, of N-S.W 33 15 0 3 2 3 Union Bank 10 6 0 2 8 7 Aust. Provincial ... 011 7 — Stb. British Ins 3 11 9 3 14 i N.Z. Breweries 1 16 0 3 17 9 Mataki ......;....... 0 110% — Waihi 1 fi 1 7 13 4 Christchurch. Comm. Bank of Sydney 17 17 0 3 10 0 National ißank of N.Z. 4 4 0 2 7 7 Donaghy's Rope 2 5 0 4 811 Goldsbrough, Mort .. 10 0 113 7 N.Z. Guarantee Corp. 0 S 3 3 0 7 Staples Brewery ... ]... 80 311 5 Dunlop Rubber 0 18 10 4 4 11 Electro. Zinc (ord.) . 15 4 — Nokomai '. . ■ 0 2 f) — Waihi . ._. .* 16" 3 712 5 : Ounedln. •N.Z. ■ Refrig. (Ids pd.). 0 0 6 . " — " Sth. Otago Freezing 500. 8 0 0 Paddy's Point :.:.::,. : : <S. 5 4; .U 13 ' 9 *Cum div:. : : .:'.■" • ;.. .'■■; a. —Quoted price .includes' ; accrued interest, but not brbkeragfe.1'"?:: '. u.—lnterest due-dates* unknown; yield based on gross price. • ■