LONDON WOOL SALES

Evening Star, Issue 21718, 12 May 1934, Page 10

LONDON WOOL SALES

CLOSING OFFERINGS RESENT PRISES REALISED Press Association—By Telegraph—Copyright LONDON, May 11. (Received May 12, at 10 a.ra.) At the* wool sales there was a closing offering of 11,241 bales, including 5,320 from New Zealand. About 4,287 bales were sold. There was fair Homo and Continental demand and a steady tone. Recent prices were realised, though withdrawals continued where selling limits wore not reached. New Zealand greasy half-bred. “ Tarata,” top lojcj, average 13ijd; New Zealand cross-bred, top I4d, average 12Jd; half-bred lamb, slipe, •‘Y.B.S./Canterbury,” top 15$d, average 14|cl; scoured half-bred combing, • "Glenrock,” top 31Jcl, average 30-Jd. The total number of bales catalogued was 68,100, of which 25,500 bales were sold at Home and 23,500 to the Continent, and 31,000 were held over. The total of the Australian wool sold was 12,000 bales, and New Zealand 21.500. The market closed steady at late rates. Compared with March closings, merinos, greasy, were 10 per cent, lower. Scoureds, fine, were 5, and broad-haired 10 to 15 per cent. down. Cross-breds, greasy, fine, were 10 per cent, lower, and medium 5. Shpcs, better sorts, were 7id and inferior 10 per cent, lower.

Messrs Murray, Roberts, and Co. Ltd. have received the following wool market quotations from their Loudon agents, Messrs Sanderson, Murray, and Elder Ltd., dated 12th ipst.:— 60,.64’s New Zealand merino, yielding 48 per cent., 15d; 56’s, yielding 64 per cent., 14Id (at opening of series, I4|d) ; 50’s, yielding 70 per cent., IOJd (10id); 44/46’s, preparing, yielding 76 per cent., 7id (7Jd); 44/46’s, carding, yielding 74 per cent., 7id (7id); 40/44’s, yielding 75 per cent., 7d (6jd); 36/40’s, yielding 76 per cent., none offering, 46/48’s, mixed preparing and carding, yielding 74 per cent., 8d (7id); 48/50’s carding, yielding i2 per cent., 9Jd (9d). The National Mortgage and Agency Company of New Zealand Ltd. have received, the following cablegram from their London office under date the 11th j lis t. :■ The auctions closed here to-day with good general competition for greasy cross-breds, but withdrawals have been heavy. with opening rates we quote: Greasy merino—Best no change, average id lower; half-bred, 50/56, Jd lower; cross-bred, 48/50, 46/48. 44/46, 40/44, 36/40, no change; slipe, half-bred lambs, id lower; slipe, three-quarter bred lambs, id lower; scoured merino, lid to 2d lower. The New Zealand Loan and Mercantile Agency Company Ltd. has received the following cable from London, dated May 11:—As compared with last sales closing rates, prices are low id to Id per pound for scoured merino, coarse cross-bred slipe, and medium cross-bred slipe; lower Id per lb for greasy merino and fine cross-bred slipe; about the same for scoured cross-bred; lower par to id per lb for merino and cross-bred lambs; higher par to id per lb for greasy cross-breds. These prices as compared with opening sales competition at present dull and withdrawals heavy. The sales closed with a weak tone to-day.

BRISBANE SALES. Press Association—By Telegraph—Copyright BRISBANE, May. 12. (Received May 12, at 11 a.m.) The wool sales have concluded. The demand for well-grown scoured wools was again keen, hut less attractive lines were often difficult to sell. The top prices were greasy 22d; scoured, 41d. FORWARD SALES OF BUTTER IMPROVEMENT IN PRICE The improvement in the butter market has been reflected in the f.o.b. market. Forward sales have been made at 9Jd, which is equal to between 80s and 85s per cwt, London.—Auckland Press Association. VICKERS' EARNINGS INCREASE IN PAST YEAR The net profit of Vickers Ltd., shipbuilders, engineers, etc., England, for 1933 was £543,364, an increase of £14,326 on 1932. A dividend of 4 per cent, for the year was declared on ordinary capital. General Sir H. A. Lawrence, who presided at the annual meeting of the company, held in London on March 26, related the position of the many subsidiaries of the company. During the- year (ho said) progress had been ihade in Great Britain toward industrial recovery, and unless some unforseen calamity occurred there appeared to be every prospect that the forces of recuperation would continue to bring about trade recovery. A return to prosperity in Great Britain could not, however, be attained until other nations adjusted their internal difficulties and a feeling of international confidence was restored, which woujd lead to an expansion of international commerce. DIVIDENDS DUE. ES. and A. Bank—in t. 2J p.o. May National Insurance—lnterim, 4d a share Ma J Broken Hill Propty.-half-yearly, Talisman Dubbo Gold Mines Ltd. —third div.. 6d share (10 per cent.) May 15 Is per share ••• ••• ••• Ma J 16 Perpetual Executors and Trustees Association of Australia interim half-yearly, at rate of 6 per cent, per annum May 16 Dalgety and Co. -Interim, 5 p.c. per annum •• ••• 11 Bank of N.S.W.—quarterly, 5s N.Z. Paper Mills—4 p.c., making 7 p.c. per annum May 21 shave (Aust. cur.) ... May 30 National Bank Australasia-half-yearly, final,' 5 p.c. per annum May 30 Farmers’ Trading—Final, P re f • • 7 p.c. per annum, (less 20 31 Henry 0 Jones—lnterim. 6d a share June 1 Wilson’s Cement—Final, 6d per +\ mrC dUll£ 0 Broken Hill South-ls 6d a share, payable in Melbourne ... ... June 15 Bank of N.Z. final, 5 per cent. making. 10 p.c. for the year June 15

FRUIT AND PRODUCE Bray Bros. Ltd. (Dunedin) report as follows for week ended to-day;— The milling lines of wheat that are now coining forward are being threshed from the stack. The quality of this wheat shows a definite improvement over lines that were offering earlier and which were threshed _ from the stook. Millers are accepting all the wheat available in this district, but, of course, where the wheat is soft in condition or of a poor standard they are not buyers. This latter wheat has to be sold as fowl wheat. Smut is more prevalent in some wheat than usual, the result, no "doubt, of the wet and overcast weather conditions which were in evidence while these particular crops were growing. For the month of May an extra Id is being paid to farmers by the "Wheat Purchase Board. Tuscan is now being paid for on the basis of 3s 7d per bushel, f.0.b., growers’ nearest port, with 3s 9d for Hunters, and 3s lid for Velvet. The fowl wheat market is quiet. Increased offerings have caused _ merchants to reduce their buying limits, and some lines have changed hands at 3s per bushel, sacks extra, on trucks, country sidings. This price is equivalent to 3s 4d delivered in Dunedin. Small lots ex the store are selling at higher prices. Millers’ prices for flour, etc., are as follows:

Flour.—2oolb, £l4 2s; 100’s, £l4 7s; 50’s, £ls 2s; 25’s, £ls 7s. . Bran, £4 10s per ton. Pollard, £6 10s per ton. Oatmeal.—2oolb, £l9; 25’s, £2l. Pollard was advanced 10s per ton during the week. The shipping market for oats is very quiet, few orders being received by merchants. On the other hand, offerings from growers .are not heavy, and there is a general tendency for them to ask high values. Merchants, however, are not prepared to operate to any extent owing to the _ poor consumptive demand. There is a great variation in the quality of the oats coming forward from the growers. Some are heavy while others are light and out of condition. The heavier lines of oats are selling at Is lOd per bushel, sacks extra, on trucks, country sidings, and this is also the value of A Gartons. Owing to most of the crops being affected by the weather there are_ not_ many of these lines available in this grade. B’s are worth Is 7d per bushel in the country, and under-grades are quoted at Is 3d to Is sd. The general shipping quotation is 2s 7d, f.0.b., s.i., for A’s and 2s 4d for B’s. Reports from the north go to show that the shipping demand for potatoes from the North Island is considerably less than was anticipated would be the case early in the season. Offerings from the farmers are in excess of the demand, and the result has been a. decline in. shipping values. In North Canterbury quotations have been made at £3 15s per ton, f.0.b.,. s.i., Lyttelton. . ■ It is reported that the yields in North Canterbury are very good, but that in the South Canterbury and Otago districts blight has affected the crops. Present appearances point to the market remaining quiet. Growers are inclined to look Tor higher Prices than those now ruling and to hold their tubers in anticipation of being able to ship to Australia later on. No definite arrangement has yet been made with Australia with regard to the removal of the embargo on the importation of potatoes from ■ New Zealand. . Local consignments are in excess of the demand. The present value of the best quality is from £4 to £4 5s per ton, sacks' included, ex store. Consignments of chaff are not heavy, but there are more than sufficient supplies in store to meet demand. Sales are restricted, with load lots selling at from £4 5s tp £4 10s per ton, sacks extra, ex store. Truck lots are not wanted, and it is quite the exception to find a buyer for a quantity of these dimensions. As is usual at this time of the year, the seed markets are quiet. Reports from the growing districts state that the bulk of the crops have been marketed. Ryegrass 'is in shorter supply than usual, and it is considered that the bulk of this seed will be required for the retail trade. The cocksfoot market remains firm, with up to Is 4d per lb on trucks. Christchurch, being asked for certified seed. White clover, crested dogstail, and Chewing s fescue are all firm in price. A much reduced quantity of these seeds has been saved this season. . Owing to the cold wet weather winch has been experienced during the past week sales in the auction rooms have been very slow. It has been a trying time for the retailers. The apple market is heavily supplied with consignments from Canterbury and Nelson, and odd lots from Otago Central. The demand is for choice quality lots only. The salerooms are overstocked with inferior grade, which are on offer at very low

prices. Winter Cole, Winter Nehs pears are in much better supply and the market is much easier. Poor quality desserts and cookers are unsaleable. Growers should refrain from sending in poor quality, at any rate for the meantime Stocks of Californian oranges and, lemons are now pretty low, and there will ho no more on the market until the Mariposa’s shipment arrives. High prices have been ruling for citrous fruits. . , Salerooms are' practically out of banana stocks, and the trade is awaiting the arrival of the Maui Pomare s shipment, which is due to arrive es rail from Lyttelton either: Tuesday or Wednesday of next week. Peaches are finished for the season. Gros Colmar grapes have a good demand. , r i An exceptionally tine_ line of lemons grown by Mr J. Haskins, of Poverty Bay, was received by us during the week. These lemons compare more than favourably with either Californian or South Australian grown. They were disposed of to retailers at satisfactory Pf Small lots of outside Christchurchgrown tomatoes are still on offer, sound qualities realising good prices, poor coloured and frost affected lots being hard to place. Hothouse-grown have a little better demand. _ The market is over-supplied with marrows and sales are slow. Growers are recommended to refrain from sending in th© meantime. Some very nice lines of Christchurchgrown cucumbers are still reaching the market and payable prices are being realised. ... The market is heavily supplied with poor quality cauliflowers. These are hard to place. Really good lines meet with a sound demand. This applies also to cabbages. Swedes, carrots, and parsnips are in good supply, with low prices ruling. Choice quality green peas meet a ready sale, the other quality being almost unsaleable. The market lias for the _ past tew weeks been short supplied with eggs. Artichokes are now on offer. Fair stocks of onions nre still Jiekl by the salerooms, and low prices are ruling.

The following prices were realised during the week: — Apples.—Cox’s Orange, 4/6 to 9s 6d; Jonathans, 4s to 5s 6d; Delicious, 4s ~to 6s ; Cleopatras, 5s 6d to 6s 6d; Wolseley, 4s to ss. . Pears. —Conference, to 3s; W inter Coles, 2s 6d to ss; Buerre Bose, 3s to 4s 6d; Bon Chretien, 3s to ss; Jargonelle, 2s 6d to 4s. , . Tomatoes. —.Locals, 3d to 8d 5 Clinstchurch, 2d to 3Jd; small seconds, lid to lid; Otago Central, Id to 2d. Grapes.—Hothouse, lOd to Is 2d; Gros Colmars, 2s 2d. N.Z. passions, 6s to Bs. N.Z. lemons, 20s to 22s 6d. , Californian lemons, to 555. Californian navel oranges, to 465. Californian valencies, to 42s 6d. Californian grapefruit, to 40s. Bananas, ripe, 20s to 225. Scarlet runner beans, 2d. French beans, 2Jd to 3d. Peas.—Choice, 2d to 2id; others, Id. Quinces (wanted), 2d to 2Jd. Cabbages, Is 6d to 2s 6d. Cauliflowers, 3s to ss. Carrots, 2s to 3s sugar bag. Cucumbers. —Hothouse, 2s 6d to 4s 6d per dozen; outside, 2s per dozen. Lettuces, Is to Is 6d. Potatoes, 4s 6d to*ss 6d. Onions, to £3 5s per ton. Marrows, 3s to ss. Pumpkins, 5s to 6s cwt. . N.I. melons, to 9s. Honey.—ilb pats, 3s 6d per dozen ; section, 8s 6d; 101 b tins, ss; bulk, 4d to 5d per lb. , , , , Fowl wheat, to 4s 6d per bushel. Dairy butter (wanted), to 7Jd per lb. • Cheese,, sid per lb. v Eggs, market rates. Macdonald and Miller’s gold-medal bacon, 10d to lid. Boneles# hams, Is OidLard, 6*d.