WOOL SALES

Evening Post, Volume CXXV, Issue 145, 22 June 1938, Page 14

WOOL SALES

THE 1938-39 SERIES

PRESENT ARRANGEMENTS

The rosier of New Zealand wool sales for 1938-39, showing sales to be held in the various centres, is as follows:—

Auckland, November 26, January 24, March 27; Napier, December 2, February 20, April 4; Wellington, December 7, January 9, February 15, March 23, April 24; Christchurch, December 12, January 30, March 3, April 14; Timaru, December 16, March 7; Dunedin, December 20, February 2, March 16; Wanganui, January 19, February 24, March 30; Invercargill, February 3, March 11.

The roster is subject to adjustments,

The itinerary of the sales is:—Auckland, Napier, Wellington, Christchurch, Timaru, Dunedin, Wellington, Napier, Wanganui, Auckland, Christchurch, Invercargill, Dunedin, Wellington, Napier, Wanganui, Christchurch, Timaru, Invercargill, Dunedin, Wellington, Auckland, Wanganui, Napier, Christchurch, Dunedin, Wellington.

It will be recalled that at the recent international wool conference held in London last week, Mr. Scheller, representing the Netherlands, compared the Australian selling system with that of New Zealand, to the disfavour of the latter. He did so because, he said, "The most conspicuous advantage of the Australian system is that in the leading markets—with the exception of Perth and Adelaide—the sales are spread over four days a week, so that the buyers can keep their overseas principals informed every day and can daily receive orders and alterations of limits. Consequently, they are always in a position to buy. On the other hand, in New Zealand the quantity destined for sale in a certain port is always sold in one single session. It will be clear that if any orders given to some buyer are inadequate,'' he irMsses the whole auction, since it is impossible for him to communicate with his overseas principals in time. Mr. Scheller submitted a specimen roster for New Zealand providing for three days' sales in some centres and total for catalogues not exceeding 28,000 bales.

ANTWERP WOOL FUTURES.

(By Telegraph—Press Aggn.—Copyright.) (Received June 22, 10.15 a.m.) ANTWERP, June 21. Wool futures quotations: July, 22id; October, 23d; December, 23d.

The quotations on June 14 were:— July, 22d; October, 22Jd; December, 22 3-Bd. The prices are for 64's tops, dry combed.

FOREIGN EXCHANGES

Closing direct rates as quoted by the Bank of New South Wales, Wellington, today, for buying and selling foreign currencies based on New Zealand currency, were as follows: — I Buying. Selling.

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 16s Id in London, £1 0s Id in Australia. 16s 3|d in U.S.A., 16s 6d in Canada, £1 2s BJd in France, 16s 4Jd in Italy, 9s 7id in Germany, lis 9|d in Java, £1 8s Id in Japan.

£ s. d. £ s. d. London— £N.Z. to £ stg. 100 T.T. 124 0 0 124 10 0 O.D. 123 10 0 124 8 9 Australia—£ A. to £ N.Z. 100 .... T.T. and O.D. 101 0 0 100 10 0 Fiji—£F. to £N.Z. 100. T.T. and O.D. 00 7 6 89 0 0 New York—Dols. to £ N.Z. 1 T.T. 4.0054 3.0709 O.D. 4.0154 3.9749 Montreal—Dols. to £ N.Z. 1 T.T. 4.04S5 4.0160 O.D. 4.0605 4.0200 Belgium—Belgas to £ N.Z. 1 T.T. 23.667 23.357 O.D. 23.742 23.368 Czechoslovakia —Korunas to £N.Z. 1 T.T. — 113.57 O.D. — 113.62 Denmark—Kroner to £ N.Z. 1 T.T. 18.203 17.893 O.D. 18.263 17.899 Finland—Marks to £ N.Z. 1. T.T. 185.35 179.55 O.D. 185.75 179.65 France—Francs to £ N.ZT 1 T.T. — 141.20 O.D. — 141.24 Germany—Relchsmarks to £N.Z. 1 T.T. — 9.809 O.D. — 9.814 Greece—Drachmae to £ N.Z. 1 T.T. — 429.54 O.D. — 429.84 Holland—Florins to £ i N.Z. 1 T.T. 7.290 7.140 O.D. 7.330 7.144 Italy—Lire to £N.Z. 1. T.T. — 75.56 O.D. — 75.61 Java—Florins to £N.Z. 1 T.T. 7.279 7.129 O.D. T.319 7.133 Norway—Kroner to £ N.Z. 1 T.T. 16.182 15.892 O.D. 16.242 15.898 Noumea—Francs to £ N.Z. 1 T.T. — 139.95 O.D. — 139.99 Papeete—Francs to £ ' N.Z. 1 T.T. — 140.00 O.D. — 140.04 Sweden —Kronor to £ N.Z. 1 T.T. 15.785 15.490 O.D. 15.845 15.496 Switzerland—Francs to £N.Z. 1 T.T. 17.518 17.248 O.D. 17.623 17.253 Chcfoo—N.Z. pence to 1 dollar T.T. — 12 35-64 O.D. — . 1217-32 Hong Kong—N.Z. pence to 1 dolalr T.T. 18 3-8 18% O.D. 1811-32 18% India and Ceylon—N.Z. pence to 1 rupee T.T. 21 61-64 22 15-84 O.D. 21 58-64 22 15-64 Japan—N.Z. pence to 1 yen T.T. — 17 33-64 O.D. — 17 33-64 Manila —N.Z. pence to 1 peso T.T. 29 11-16 30 3-16 O.D. 29 19-32 30 3-16 Shanghai—N.Z. pence to 1 dollar T.T. — 1115-16 O.D. — 1115-16 Singapore—N.Z. pence to 1 dollar T.T. 34 19-64 34 25-32 O.D. 34 13-64 34 25-32