WOOL IN SYDNEY

Evening Post, Volume CXXIV, Issue 89, 12 October 1937, Page 12

WOOL IN SYDNEY

DECLINE OF 5 PER CENT. (By Telegraph—Press Assn.—Copyright.) SYDNEY. October 11. At the wool sales 11,587 bales were offered and .8960 sold, 500 privately. ' Competition today was fairly general, with America and Japan operating ! sparingly on suitable lines. Good to best descriptions, fleece and | skirtings, were fully 5 per cent, below last week's closing rates. Greasy | merino made 22Jd. The average price i last week was £18 Is 7d a bale and 13s 9d a lb. The New Zealand' Loan and Mercan- ; tile Agency Co., Ltd., has received the following advice from its London I house, dated October B:—Position of market as compared with preceding auctions—prices are 15 per cent, lower i for combing merino; 20 per cent, lower for combing crossbred, and 10 per cent, to 15 per cent, lower for clothing crossbred. Clothing merino not quoted. , Demand poor, heavy withdrawals. 56- : 58's full-woolled sound pelts, 12Ad; three-quarter. Hid; half, lid. 48-50's full, lljd; three-quarter, lOJd; half, lOd. 44-46's full, lid; three-quarter, , lOd; half, 9£d. 40's full, lOJd; threequarter, lOd; half, 9Jd. Short and shorn, all grades, 6d to 9Jd. ARGENTINE BUTTER UNSUBSIDISED POSITION | Weddel and Co., London, refer to the Argentine dairying industry when re- , viewing world conditions for 1936-37. 1 With more prosperous conditions now obtaining in the Republic, they state, local consumption of butter and cheese has increased considerably in the past year or so. "So long as the present prosperity lasts this' increase will continue. Production, however, cannot increase in the Argentine to any extent so long as the industry continues in its present unorganised condition. The Minister of Agriculture has made a public statement to the ei?eci that it is his intention to put the industry on a sound basis. By this it is generally understood that the methods already adopted in such countries as Denmark, New Zealand, and Australia will be followed and doubtless some form of Government assistance will be introduced. Should this happen the production of dairy produce in the Argentine will increase rapidly, as in certain parts of the country the land cannot be equalled for dairying in any other part of the world. Argentina is one of the few dairy countries where the producers are denied a subsidy, and with the high tariff protecting practically all their markets they /•i , t .. e Prices they get are not profitable." TIN CHEAPER PRICES OF METALS (By Telegraph—Press Assn.—Copyright.) (Received October 12, 12.30 p.m.) LONDON, October 11. . The official London (middle) quotations, as reported by . the Australian Mines and Metals Association, compare with those previously cabled as follows:— Oct. 8. Oct.'ll. Per ton Pei ton _ £ s. d. £ s. d. CopperStandard, spot 46 13 li 46 11 3 Ditto, forward 46 17 6" 46 15 7? Electrolytic . 52 0 0 53 0 0 to 54 0 0 54 0 0 Wire bars .. 54 0 0 54 0 0 Lead— <t Spot 17 18 9 18 6 3 Forward ... 18 1 3 18 9 4J SpelterSpot ...... 17 18 9 18 3 1J Forward .. 18 3 9 18 6 10J TinSpot 238 0 0 234 17 6 Forward .... 236 12 6 234 15 0 SilverStandard, per oz 20d 20 l-16d Fine 219-16 d' 21% d MINING SHARES. (By Telegraph—Press Assn.—Copyright.) (Received October 12, 12.30 p.m.) LONDON, October 11. Sales of mining shares include:— Mount Lyell, 31s 10Jd; New Guinea, Is 93d. , NEW YORK PRICE OF TIN. (By Telegraph—Press Assn. —Copyright.) (Received October 12, 12.30 p.m.) NEW YORK, October 11. Tin is quoted at 54.00 cents per lb. BRADFORD TOPS MARKET. (By Telegraph—Press Assn.—Copyright.)' . (Received October 12, 12.30 p.m.) LONDON, October 11. The Bradford tops market is unchanged, but buyers are able to get slight concessions. AUSTRALIA AND JAPAN. A- high Government official in Tokio is reported to have said that the Australian Government so far had not agreed to a proposal by Japan that she should guarantee to admit Australian wool up to a certain percentage of • her total wool imports each year. This ought to be satisfactory, he said, because Japanese industry would need large quantities in future yedrs, despite temporary setbacks. He said that the Consul-General in Australia (Mr. Wakamatsu) was urging the amelioration of the high Australian duties on Japanese cottons and rayons, which had so, far caused Australia to import less than half the quantities that were anticipated under the Gul-lett-Murai agreement. He hoped that the fact that the Japanese Government could not undertake to negotiate a shipping agreement would not delay the signing of a trade treaty, with a protocol setting out the quotas to be admitted by each party. Traders in both countries wished such a treaty to be signed as soon as possible. PRODUCE IN LONDON. The Department of Agriculture has received the following cablegram, dated October 8, from the High Commissioner for New Zealand, London:— Tallow: Market continues quiet, but little more interest shown. Inferior sorts, 9?d lower;. other qualities unchanged. Hemp: Manila: Market quiet but steady. 'K" grade quoted sellers for October-December shipments £27. Sisal: Market quiet at slightly easier prices. October-December shipment quoted sellers £26 10s. New Zealand: Market quiet; no business reported, except Admiralty contracts. Eggs: Market irregular. English, national pack, 15s 6d to 225; English, ordinary pack, 19s to 19s 6d; Danish 13s 6d to 15s 6d; Australian 13s to 14s ! 9d. Apples: Market weaker with slightly easier prices. Prices are:—Californian Newtown, 12s; Delicious, lis; Jonathan, 10s 6d to lis 6d; Gravenstein, 5s 6d to ■8s; Washington Jonathans, 9s 3d to lis; British, Columbian Cox's Orange J Piopins, 9s 3d to lis 3d. Pears: Demand satisfactory. Californian Beurre Bosc. lis to 15s; Bart- i lett, lis 6d to 17s; Beurre Hardy, 14s to iTs 6d. The price of citric acid has been advanced id per lb by Australian manufacturers. With . the advent of the warmer weather, there is an improved demand, and a good turnover , is anticipated by distributors in the next two months.