COMMERCIAL

Evening Star, Issue 17926, 23 March 1922, Page 2

COMMERCIAL

Press Association—By Telegraph,—Copyright." THE WOOL MARKET. LONDON, March 21. (Received March 22, at 11,50 p.m.) At the wool sales a. good selection of merinos suitable for the Continent sold well at full prices. Cross-bred's were firm and unchanged. There was good home and foreign competition for both greasy and scoured. —A. and N.Z. Cable. SYDNEY, March 22, (Received March 22, at 11.40 p.m.) Good clearances were effected at the wool sales. Highly satisfactory priced were j recorded. Bradford and Yorkshire buyers were active; but Japanese and German buyers were quiet. MONEY AND MARKETS. LONDON, March 21. (Received March 22, at 11.60 p.m.) Waihi, 17s 6d to 20s; Bank of Australasia, £l2 2s 6d ; Bank of New South Wales, £25 2s 6d; Union Bank, £l2 10s; National Bank ot New Zealand, £5 18s; New Zealand Loan and Mercantile, £7l to £7B. . ' „ , Forced strawberries at Covent Garden brought 54s per lb.—A. and N.Z. Cable. ■ WHEAT CARGOES. LONDON, March: 21. (Received March 22, at 11.10 p.m.) Cargoes are quiet. Pacific and Australian are unchanged. River Plato is offering at Is decline, without attracting buyers. Tho Diadem’s cargo, which was misreported, really sold at 58s 6d.— A. and N.Z. Cable. WOOL TEXTILE FINANCE COMPANY. LONDON, March 21. (Received March 22, at 10.50 p.m.) An influential Bradford meeting decided to register the Wool Textile Finance Company to carry out the insurance scheme.— A. and N.Z. Cable. [A London cable of March 10 stated: Tho ‘ Yorkshire Observer ’ states that thy London directors of “Bawra” favor acquiring a considerable share in the projected' Wool Textile Finance Company, and have made favorable representations regarding participation to the Australian Board, which, it is understood, lias the question ..under consideration.] GOVERNMENT WHEAT CONTROL. A lengthy discussion was held at a. meeting of tiro executive of tho North Canterbury Farmers’ Union on tho question whether next season’s wheat should bo under Government control or whether there should he a free market. The various branches had been asked to give their views, and the majority were _in favor of Government control. Tho importance of the Dominion producing its own foodstuffs was stressed in tho discussion ; also the fact that if payable prices were not forthcoming wheat-growing land would bo devoted to other purposes, and the Dominion would bo dependent on outside sources for its wheat supply. It was eventually agreed, by to three, “ that the opinion of this meeting is that tho Government should bo asked to favorably consider the controlling of wheat for another year by fixing the minimum price.”

BUTTER PRICES,

THE PRICE-FIXING SCHEDULE,

The members of the Auckland section of the Dominion Butter Committee havo resigned, in a body owing to being unable to” agree on the price for butter for local consumption. Tho members woro Messrs T. Bassett (North Auckland, chairman), W. C. Motion and A. Buchanan (Waikato), and 11. 0. Aiken (Auckland). Tho resignations are tho outcome of tho New Zealand- Co-operative Dairy Company reducing tho juice of first grade butter from March 13 to Is 2d wholesale, a penny below tho price fixed by the committee. Tho committee met to discuss tho position, and tho representatives of tho company declined to agree with tho suggestion that tho price should bo advanced to Is 4d wholesale, to correspond with the value of butter on tho London market. Subsequently Mr Aiken stated that ns far as the companies outside tho New Zealand Co-operative Dairy Company, operating on the local market, were concerned, tho price of first grade butter for local consumption would bo maintained at Is 3d wholesale, tho price fixed by tlw committee. 'Though, it was a penny in advance of tho Now- Zealand Dairy Company’s price, it was a pepny lower than London parity. British buyers were now offering Is 3d per lb, f.0.b., for butter manufactured' up to June. Tin’s offer had been refused, indicating that London prices were expected to go still higher. Old stocks of New Zealand butter that had been in London had bean cleared, and with increased consumption that had resulted through tho lowering in butter prices in Great Britain it was anticipated that the market would be much firmer in future.

Followincr on the expressed desire of the meat producers that the export levy_ on meat should bo borne by them, at Addington stock sales yesterday the fa-t stock auctioneers announced that all bids for fat stock for export would be subject to a deduction of the tax in accordance with the notices from the exporters, and the sale proceeded on these lines.