WELLINGTON WOOL SALE

Evening Star, Issue 22004, 13 April 1935, Page 12

WELLINGTON WOOL SALE

USX OF DOMINION SERIES KEENEST BIDDING OF SEASON ADVANCE ON DUNEDIN PRICES Press Association—By Telegraph—Copyright WELLINGTON, April 12, A strong finish to an unsatisfactory season was made at the fifth and final wool sale in Wellington to-day. This was also the last of the dominion series of auctions for the 1934-35 season. Had the market been as strong and competition as keen at the previous sales this season as it was to-day the results to all concerned on the selling side would have been much more satisfactory. Not since the memorable Wellington sale of January last year has such vigorous and excited competition been seen. Many buyers appeared to have very _ elastic limits, and to be grimly determined to get supplies of wool. At times there was a perfect “ drum fire ” of bidding, and the physical effort involved in the almost frenzied gestures and shouting ivas a visible strain on certain constant and eager buyers. The offering was a small one, the quantity catalogued being just over 9,000 bales, compared, with 16,000 for the corresponding sale last year. Very little merino or halfbred wools were offering, the bulk of the catalogue comprising largely top-making crossbreds. There was a fully representative bench _of buyers. The sale went with a swing from first to last, and was all over in two hours. The French interests were the main driving force, arid made the pace a hot one throughout, their representatives lifting a large quantity. Bradford buyers were not to be denied, however. They operated extensively with very keen bidding. Other Continental interests were very active. Orders for Japan were also filled, and some buying for Germany appeared to bo done. The general impression appeared to be that Continental buyers had to get wool while “ the going was good,” especially in view of the uncertainty surrounding several of the “gold bloc” currencies. Prices generally were at the highest point of the 1934-35 season. One broker said that crossbreds were a farthing and half-breds a halfpenny ahead of the prices at Dunedin last Monday. Compared with * the March sale the Wellington prices showed the following advances:—Extra fine crossbreds, Id to fine, medium, and coarse crossbreds, |d to Id; low crossbreds, Jd; hoggets, Id: bellies and pieces, Id to lid; emtenings, par to id ; and locks, id. The passings were chiefly due to the high limits set by growers, and were comparatively few, and a good clearance was made at the auction. The following is the official range of prices compared with that for the March sale:—

AUCKLAND'S WOOL SEASON [Special to the ‘ Star.’] AUCKLAND, April 13. The last Auckland wool sale of thepresent season, held on March 29, netted to Auckland woolgrowers £87,684, which is just over half the amount realised at the corresponding,'sale the previous year. The average return per lb was just over sid, and compares with a little over 7jd per lb in March, 1934. Particulars received from the secretary of the Auckland Woolbrokers’ Association show that the number of bales offered was 11,706, number of bales sold 10,929, total weight of wool sold 3,729,5321 b, total value of wool sold £87,683, average price realised per bale £8 Os sd. The following are Auckland’s total receipts in recent years:— 1928-29, £1,024,682; 1929-30, £498,717; 1930-31, £323,806; 1931-32, £310,803; 1932-33, £341,886; 1933-34, £934,363; 1934-35, £344,029. CANTERBURY MARKETS [Per United Press Association.] CHRISTCHURCH, April 12. The easing in the potato market, which was noticeable earlier in the week, has developed, and to-day values ar q about 10s a ton less than they were ten days ago, both prompt and forward prompt. The position has been affected by the heavy consignments sent forward for the Ornana, which left to-night for Auckland. This vessel was scheduled to sail on Wednesday with approximately 3,000 sacks, but her delav until to-day has enabled another 2.000 sacks to be sent forward. A shipment of this size at this period of the year is unusual, and as the Wingatm is sailing direct from Timaru with about 2.000 sacks, it means that, early next week the Auckland market will receive approximately 7,000 sacks. Another - vessel is due to sail early next week. Practically all the Omana’s shipment is carrying a grader’s certificate. In the meantime the Wellington market is being supplied from within the province. Tinder the weight of prompt offerings the market has eased and business for the Ornana was done at £5 10s a ton, f.0.b., s.i. -The MayJune delivery is on the same basiSj and .Tuly-August-Septeniber has slipped from £6 15s to £6 ss. Values on trucks at the moment are £4 a ton, up to 2s 6d a ton more for near deliveries.

Onions are held very firmly, and although the price on trucks is mentioned at £ll a ton, higher than this figure has been paid for small lots during the week. There are very few offerings from growers. The oats market remains unchanged, but there is very little business doing. Duns for feed are very scarce and are worth 3s a bushel, on trucks. The northern price for this variety is quoted very high—to 5s 9d a bushel. ,

Store fowl wheat, peas, ' and chaff show no change, and there is very little inquiry. The North Island demand for fowl wheat is singularly quiet. The price is 4s 3d, f.0.b., s.e., for free fowl wheat, and 4s 4d for board wheat. Samples of cowgrass are being offered from quarters which it was thought had a very poor crop, and in addition offers of English seed of good quality have depressed prices. To-day best samples are worth 8d a lb to farmers.

There is very little cocksfoot and ryegrass in farmers’ hands, and merchants are not much in the market for any that may be available. Akaroa cocksfoot is quoted up to lOd a lb, on trucks, and Plains to 9d. Ryegrass is worth up to 2s 9d a bushel, on trucks., ■ The autumn trade is oyer for small seed and there is no inquiry at the moment from the north.

THE MEAT LEVY PERIL ENGLAND WOULD BECOME WORLD'S DUMP [Per United Press Association.] CHRISTCHURCH, April 12. New Zealand-owned freezing com* panies operating in the South Island have sent the following telegram to Mr. Coates: —“ At a meeting held yesterday of the undersigned companies representative of all New Zealand-owned freezing companies in the South Island the following resolution was unanimously adopted for transmission to yourself, “ That this meeting of New Zealandvowned freezing companies, representing thousands of shareholders and producers, strongly urges upon the Government the importance of resisting any attempt to introduce the application of a levy on New Zealand meat imported into the United Kingdom, We are convinced that the regulation pfj imports as agreed at the Ottawa Conference has been of the utmost value to New Zealand producers in protecting them against the unlimited expansion of. imports from other countries,and the disastrous fall in prices which' would have resulted. The improved prices which have ruled for mutton and lamb since the restrictions imposed under the Ottawa agreement are the best evidence of the benefit which hai accrued to New Zealand. W© are convinced that the abandonment of the regulation of - imports in favour of a; levy will result in the English market being flooded with supplies; in other words, becaming the dumping ground for the world’s exportable surplus, with' the resulting collapse in prices, the effect of which .would be testified by the * introduction of the levy for the reason that in the long run the cost of the levy would fall upon ■ the i producers.”

Mar., 1935. An ., 1935. d. d. d . d. Merino— Average ... 9 to 9J 95 to 10i Inferior 7 to 8 — to 8 Fine Half-bred— Super ... ... — 10 to 121 Average ... 8 to 9| 91 to 101 Inferior ... 7 to 7} 7 to Medium Half-bred, 50-56— Super ... ... —■ 10 to 101 Average ... 7J to 9-J 75 to 95 Inferior ... 5| to 7J 6 to 74 Extra Fine Cross-bred, 48-50— Super — to 85 Average ... 64 to 7J 71 to 91 Inferior ... 44 to 61 Si to 7 Fine Cross-bred, 46-48— Super 7 to 84 84 to .8-1-Average ... 5| to 6| 6ito 8 Inferior ... 4 to 5J4J to 61 Medium Cross-bred, 44-46— Super 61- to 7-1 7 to 75 Average ... 5 to 6 53- to 65 Inferior ... 35 to 4J 4 to 54 Coarse Cross-bred, 40-44— Super ... ... — 55 to 7 Average ... 44 to 54 51 to 64 Inferior ... — 24 to 41 Low Cross-bred, 36-40— Average ... 4 to 4J 44 to 54 Hoggets, 48-50 54 to 9 64 to 10 61 to 85 Fine, 46-48 ... 5i to 8 Medium, 44-46 44 to 71 Coarse, 40-44 ... 5 to 61 Lambs down, - 60-56 6i to 11-1- , 64 to 8| Fine, 46-48 ... 5i to 9 61 to 8 Medium, 40-44 34 to 61- , Seedy & inferior 2j to 51 4 to 6 Bellies and pieces— Merino, good to super ... — — Merino, low to medium 55 to 6154 to 6 Half-bred, good to super. — to 62 to 81 Half-bred, low to medium 3 to 5| Cross-bred— Good to super 3J to 6 42 to 64 Low to medium 24 to 4 24 to . 44 Crutchings— Medium to good 4-1 to 61Inf’r and seedy .2 to 4 41 to 61 2 to 41 Locks— Cross-bred ... 24 to 31 24 to 34 DIVIDENDS DUE. WoolworUis Ltd., Svdney—Final * 4 Jf per cent., making 10 per cent, per annum, and bonus of 3i per cent April IS <J. G. Coles Ltd., Melbourne— -Intenm at rate of 10 per cent. per annum and bonus of 6d per share April 15 Isoon Signs (Australasia) —Inter- . esfc half-yearly, at 10 per cent, per annum April 15 Howard Smith (ord.) — 2£ p.c M year ended December 31 last April 16 Kaitangata Coal—7 13-16 per cent. Is 3d a share April 17 South British Insurance—Interim, Is 4d a share April 18 Alexander Mines—Tenth, Is a share ... April 29 Associated Newspapers Ltd., Syd- - ney—Interim, 2 per cent, on ordinary and preference ... April 30 British Tobacco (Aust.) Ltd.— Quarterly on preference- at 6i per cent, per annum ... April 30 united Building Society, Auckland—5 per cent, per annum April 30 United Provisions (Sydney)— Half-yearly pref. at 6 per cent, per annum April 30 Australian Iron and Steel (pref.) —at 7? per cent, per annum, for half-year ended May, 1931 May 1 D.I.G. (pref.)—5 per cent., halfyear May 1 B.S. and A, Bank—Interim. 2i per cent May 1 Bank of Adelaide—Pinal, halfyearly, at 4 per cent, per annum ... May 8 Mosgiel Woollen—Interim, 4 per cent May 13 Smith and Smith Ltd, (pref.)— Annual, 5 per cent. Jim* 1 Tim&ru Brewery—Final 2£ per ‘ M M M