WOOL IN SYDNEY

Evening Post, Volume CXXVI, Issue 59, 7 September 1938, Page 14

WOOL IN SYDNEY

CONTINENT ACTIVE BUYERS

(By Telegraph—Press Assn.—Copyright.) SYDNEY. September 6. At the wool sales today there was strong competition from the Continent and moderate support from Japan. The market' was firm at the opening rates. Greasy merino made up to 15|d. Offerings consisted of 9774 bales, of which 8730 were sold, in addition to 558 sold privately. "No cause for elation exists regarding values ruling at opening Sydney wool sales," remark Winchcombe Carson and Co. They explain that the level of prices was approximately on the basis ruling during the past six ! months, but not quite equal to the figures obtained for wools sold privately over the past two months. The Continental section, particularly France and to a lesser degree Germany and Belgium, was the' chief competitor. Yorkshire was only active to a limited extent. Japan was a welcome- competitor on well-grown wools, but not a dominating operator. Demand was fairly gratifying and showed better distribution than was anticipated by those pessimistically inclined. "It did, not show the strength essential to produce an upward market movement. Until European conditions t are more settled and business in America gives a lead to higher prices for all commodities, definite improvement in rates does not appear probable." ANTWERP WOOL FUTURES. (By Telegraph—Press As&n.—Copyright.) (Received September 7, 10 a.m.) . ANTWERP, September 6. ... Wool futures quotations:—October, 22£ d; December, 22 5-8 d; March,-23d. The quotations on August 30 were:— October, 22 5-8 d; December, 22M; March, 22£ d. The prices are for 64 s tops, dry combed. FELT AND TEXTILES, LTD. Directors of Felt and Textiles of Aus-1 tralia, Limited, Sydney, announce a final dividend of 5 per cent., making j 10 per ' cent, per annum. They add: j "Owing to the widespread nature of j the company's activities, complete ac-1 counts will not be available until later, | but information received shows that profits fully justify the dividend declaration. Attention is specially directed to the fact that 50 per cent, of this dividend has been declared out of exAustralian sources, and is therefore exempt from tax under the Commonwealth Income Tax Assessment Act and the State Income Tax (Management or Assessment) Acts." BASE METALS PRICES (By Telegraph—Press Assn.—Copyright.) (Received September 7, noon.) LONDON, September 6. i The official quotations on the London ; metals market compare with those previously cabled as follows: — Sept. 5. Sept. 6. Per ton. Per ton. £ s. d. £ s. d. CStandard, spot 40 13 li 41 5 0 Ditto, forward 40 18 li >41 10 0 Electrolytic . 46 0 0 46 10 0 to 47 0 0 47 10 0 Wire bars ... 47 0 0 47 10 0 Spot ........ 14 0 7£ 14 4 4£ ! Forward .... 14 4 4* 14 9 4£ | SP S epo?~: 13 2 6 13 3 li i Forward .... 13 7 6 13 8 li Spot 192 2 6 192 15 0 ' Forward .... 192 15 0 193 12 6 51Stan"dard, per oz 19 l-Bd, 19 l-16d I Fine ....: 205-8 d 209-16 d ARGUS AND AUSTRALASIAN LOSS Directors of the Argus and Australasian} Ltd., Melbourne, report a loss of £46,057 for the year ended June 30. This sum represents the result, of ' the year's operations after charging 1 against profit and loss account all expenditure incurred in carrying out the rehabilitation plan during the period. '< The report states" that the company is now "reaping the benefit of the steady, improvement which has taken : place in advertising revenue. Sound progress has been made during the year. The large losses necessarily incurred during the months of rehabilitation have now been replaced by small profits during the last few months." "Argus" Broadcasting Ser* vice Pty., Ltd!, made a loss of £3140 ' for the year, but it has been earning profits since last April. j BERLEI, LTD., PROGRESS During the first two months of the current year, said Mr. B. G. David, chairman of Berlei, Ltd., Sydney, j orders received at the factory ex- j ceeded those in the corresponding period last year. All subsidiary companies and the New Zealand associ- j ated companies had made profits during the year. Progress in London had been satisfactory, and the new factory, now fully equipped and working smoothly, had ample provision for in creased production. The United Kingdorrf subsidiary's resources were being conserved for further exploitation of the British market where prospects were encouraging. T. J. RICHARDS DIVIDEND. ' The Stock Exchange received the following cablegram at 9 a.m. today:— T. J. Richards directors recommend, subject to audit, dividend for the halfyear ended June 30, 1938, on both preference and ordinary shares at the rate of 10 per cent, per annum, making with the interim dividends already paid a total distribution of 10 per cent, per annum for the year. Dividend payable October 15. RAILWAY AND AIR SERVICES . ♦ The arrival and departure times of the principal trains at Wellington Station are as follows :— DEPARTUBES. To Auckland.—3 p.m. and 7.15 p.m. (no night train on Saturdays or afternoon train on Sundays). To Napier.—9.4o a.m. To New Plymouth.—lo.ls a.m. To • Woodville.—7.so a.m., 3.30 p.m. (railcar). To Palmerston Morth. —8.30 a.m., 9.40 a.m.. 10.15 a.m., 3.0 p.m., 5.47 p.m., 7.15 p.ra (Limited Express, not Saturday). To Masterton.—7 50 a.m.. 330 p.ro (rail !ar), 6.4 p m (rail-far). ARRIVALS. From Auckland.—7 am (not Mondays). 9.50 am. (not sVinduys). From Napier.—4 p m From New Plymouth.- 5.55 pm From Woodville.-12 14 p.m (rail-car). 5.44 ri in ' From Palmerston North.—lo.4!) a.m., 7.8 p.m From Masfsrton. —10.10 a.m (rail-car). 12.14 p.m. (rail-carl. 544 p.m. AIR SERVICES. Arrival and departure times of airliners nt the Rongotal Airport are as follows:— DEPARTURES. To Auckland.—Noon. (Union Airways service.) To Ne150n.—7.45 a m., 11.35 a.m., 12.15 p.m., 4 p.m., Monday to Saturday. (Cook Strait Airways service.) To Blenheim.—B.3o a.m., 10.45 a.m.. 11.35 a m., 2.15 p.m., Monday to Saturday. (Cook Straii Airways service.) ARRIVALS From Auckland—ll am (Union Airways service.) From Nelson. - 8.15 n.m 11.20 a.m, 2 p.m., 1 4.45 p.m . Mmjilaj lo Saturday. (Cook Strail '. Airways service ) From Blenheim.—U.3s a.m., 11.20 a m., 12.5 p.m., 3.30 p.m., Monday to Saturday. (Cook ■'trait Airways service.) To Nelson.—l 215 p.m. I SUNDAYS. To Auekland.—Koon. From Auckland.—ll a.lB. . Omana -In dock.