WOOL IN BRISBANE ANTWERP WOOL FUTURES. MANAWATU KNITTING FOREIGN EXCHANGE RATES TIN STATISTICS. LAMB PRICES REDUCED.

Evening Post, Volume CXX, Issue 135, 4 December 1935, Page 14

WOOL IN BRISBANE

ANTWERP WOOL FUTURES.

MANAWATU KNITTING

FOREIGN EXCHANGE RATES

TIN STATISTICS.

LAMB PRICES REDUCED.

(By. Telegraph.—Press Assn.—Copyright.) (Received December 4, 11 a.m.) LONDON, December 3. At the wool sales today 9965 bales were offered, including 4364 New Zealand. Bradford and Continental demand is steady. About 8400 bales of Australian and New Zealand wools were sold. New Zealand slipe, halfbred lambs, "TB and S," sold at 15£ d highest, 13 3-8 d average.

KEEN COMPETITION

(By Telegraph.—Press Assn.—Copyright.) (Received December 4, 11.10 a.m.) BRISBANE, This Day. The wool sales continued with keen competition and prices fully maintained. The market ruled generally firm on opening rates. Top prices were greasy 22d per lb, scoured 30Jd.

(By Telegraph.—Press Assn.—Copyright.) (Received December 4, 9.30 a.m.) ANTWERP, December 3. Wool futures, January, 27 3-8 d per lb; March and May, 27 5-Bd.

DIVIDEND 10 PER CENT,

The payment of a dividend for the year at the rate of 10 per cent, is recommended in the annual report of the Manawatu Knitting Mills, Ltd., to be presented to shareholders on December 9 at Palmerston North. The rate is the same as for the year ending October, 1934. The report of the directors states that after very careful consideration it was decided to offer to shareholders at a premium of 10s per share the balance of the unissued capital (6500 shares) on the basis of one share for every three shares held. The issue was considerably over-subscribed. The object of the issue was to enable the company to secure a valuable interest in the Oamaru Worsted and Woollen Mills, Ltd. Since the balance-sheet period this interest has been acquired, and is showing in the balance-sheet for the period under review as being on deposit. "Since the last accounting period," adds the report, "the sum of £500 has been transferred from the bad debts reserve to general reserve. The directors now propose that a further sum of £2000 be transferred from the profit and loss appropriation account to general reserve account, thus bringing the total general reserve account to £16.535 7s 2d.

"The stocks of the company have been most carefully taken and stand at £16,237 Is Bd, a reduction of £1374 12s lid on last year's figures. Sundry debtors and bills receivable are £639 2s Id less. The year has proved a reasonably satisfactory trading period. "After making provision for commissions, income tax, directors' fees, and auditors' fees, providing necessary and adequate depreciation for plant and stocks, the profit and loss account shows a credit balance of £4929 14s lid, which, plus the carry forward from last year of £843 3s 7d, brings the profit and loss account to £5772 18s 6d. The premiums on the new share issue have been carried to the credit of the profit and loss account, and after deducting commissions and charges in connection with the making of this capital profit, and taking into account the fact that the company will not receive the benefit of its reinvestment of this additional capital until next season, the position from a purely trading profit point of view must be considered very satisfactory. "Mr. E. F. Hansel retires in accordance with the company's articles and offers himself for re-election."

Closing sight-rates as quoted by. the BaiiK of New South Wales, Wellington, today, for buying and selling foreign currencies based on New Zealand currency are as follows:—

,Fhe above rafps are for on fletmnd transactions. The £1 is £1 in New Zealand currency. The rates are subject to alteration without notice.

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:—

(By Telegraph.—Press Assn.—Copyright.) (Received December 4, 11 a;m.) LONDON, December 3. The statistical position of tin at the close of November compares with previous periods as follows:— Sept. Oct. Nov. Tons. Tons. Tons.

Buyers of fat lambs for export are working on a lower lamb schedule as follows: Lambs, 361b and under, 74d per lb; 371b to 421b, 7d; over 421b and seconds, 6id. Although any reduction in exchange would mean lower prices for fat stock, the export trade is at present showing little concern. Most of the buying is done practically on a day-to-day basis, so that any change made could be passed on at once.

A vegetarian, Mr. Eric Andrew, aged 33, a corporation employee, of Hull, swam across the Humber. nearly three miles, to prove that fish, meat, and game are not necessary for a strong constitution.

. On On demand. • demand. .. „ , . Buying. Selling. New Zealand on £ s. d. £ s d. London—£X.Z. to £ I ■ stg. 100, .'. .....123 10 0 124 g « Australia—£ A to £N.Z. • 100 101 0 0 100 10 0 Fiji—£F to £ N.Z. 100 . 90 T 6 89 t 0 New York—Dollars to £N-Z. 1 4.00U 3.93% Montreal—Dollars to £ N.Z. 1. 0.04% 4.00% Austria—Schillings to £ N.Z. 1 — 20.90 BelRium—Beltras to £ N.Z. 1 _ 23.130 Czechnslnrakia—Crowns to £>".Z. 1 — 9o.ol Denmark—Kroner to £ N.Z. 1 18.218 17.938 France—Francs to £ >*.Z. 1 61.07 59.52 Germnn.r—Reichmarks to £N.Z. 1 — 9.643 Holland—Florins to £ >*.Z. 1 6.030 5.734 Java—Florins to £ X.Z. 1 ' 5.9S1 5.710 Norway—Kroner to £ N.Z. 1 16.210 15.930 Sweden—Kronor to £ N.Z. 1 15.S00 15.520 Switzerland—Francs to £N-Z. 1 12.537 12.072 Noumea—Francs to . £ N.Z. 1 62.12 5S.77 Papeete—Francs to £ N.Z. 1 •;... 62.12 ' 5S.77 Hong KonK—N.&. pence to 1 dollar 211-32 i^K Tniila and Ceylon—X.Z. . pence to 1 rupee .... 2?U 22 21-32 lapan— N '/, pence to 1 Ten — ' 17 39-64 Shanghai — N.Z pence to 1 dollar 17 7-32 IS 41-64 Singapore—N.Z. pence to 1 dollar 34',4 35%

& a. a. 0 16 1 In 10 1 In 0 18 3 in 11 16 51,2 in n 9 0=i in 0 9 o 1,; in 0 9 5>i iu 1 7 11. in London. Australia. 1J.S.A. Canada. France. Germany. Japan.

World visible supplies .... 10.798 12,132 13,577 Straits carry-over 658 1,817 i;312 Supplies .. 7,655 10,805 10,632 Deliveries 9,219 8,971 9,187