COMMERCIAL

Evening Star, Issue 23501, 15 February 1940, Page 13

COMMERCIAL

GOOD PRICES REALISED FAT LAMBS AND SHEEP ADDINGTON STOCK SALE [Pik United Press Association.] CHRISTCHURCH, February 14. Large yardings of fat Jambs and sheep were forward at the Addington sale to-day, tbe dry weather having made feed rather short. Ihe store sheep entry, of adult sheep was about 7 000, as against 3,000 last week, but there was a marked reduction in the number of lambs forward, the onering totalling about 10,000, against lo 000. The lamb offering was of mixed quality, but contained a good number of usefu sorts. The best of the ewe lambs sold up to 265. The adult sheep were mixed in. quality, but there were some Chatham Islands drafts and several of the annual- station lines on olfer. Crossbred and three-quarter-bred ewes were in good demand, though the sale was not nearly as spirited as that of last week. Fine-woolled ewes, particularly the older lines, met with a dull sale. All sorts were easier by about Is a head! or more. The total of fat lambs forward was 4.000, against 3,000 last week. The quality was mixed, some excellent - hues coming forward, as well as a large proportion of poorly finished lines. All over, the lambs were worth about Is a heqd less than last week, when the works shortage caused abnormally strong competition. The top price was 37s Id. ' Dry weather was the cause of a considerable increase in the yarding of fat sheep, the total rising from 5,500 last week to about 7,000. The quality was mixed. The big entry caused an easing in the demand, And for most grades except the best ewes and wethers the prices suffered. The values were: Prime heavy wethers, 25s 6d'_to 30s; ordinary wethers, 21s to 255; light wethers, to 20s 6d; prime heavy ewes, 23s to 255; ordinary ewes, 13s to I7s-6d; light ewes, to 12s 6d. The entry of fat cattle was 440. against 375'last week. There were few outstandingly good lines offered. The prices for the better sorts of steers, heifers, and cows showed little change from last week. The values were: Prime heavy steers, £l6 10s to £18; ordinary steers, £lO 10s to £l4; light steers, to £10; prime heifers, £lO 10s to £ll 15s; light heifers, to £8 15s; prime cows, £8 10s to £lO 10s; light cows, to £6. The entry of porkers at the start of the sale was very small, and competition was keen, with values about 2s a head above last week. A few pens which arrived late dropped back to the values of - a fortnight ago. Choppers and baconers met with a good sale. Values were: Choppers, £2 18s 6d_ to £6 Is; light porkers, 41s 6d to 47s fid; medium porkers, 49s 6dl to 53s 6d; h> hvy porkers, 54s 6d to 59s 6d; average per lb, 6Jd to 71 d; light baconers, 58s 6d to 67s 6d; medium baconers, 69s 6d to 74s 6d; heavy baconers, 78s 6d to 86# 6d; extra heavy baconers, 87S .6d. lo ,94s,6d;,average price per lb, 6id to 7d " : ARTIFICIAL WOOL WARNING TO GROWERS LOWER PRODUCTION COSTS Only the limitations of present-day chemistry prevent the manufacture of fibres having the essential molecular structure of wool, according to Mr M. 1.1. Freney, wool research chemist, at the M'Master Laboratory, in Sydney. He says that when the secret of this structure is discovered, as it must be in time, artificial fibres will be produced with all the properties of the genuine product of the sheep. “ I do not think.” says Mr Freney. “ that the cellulose >or synthetic fibres will develop so that they have the characteristics of wool, and at the same time be able to compete with wool economically. The protein fibres, however, are in a "different category.- Crude protein material is cheap, and enormous supplies might be obtained from the fish of the sea. This source is an international one which could be drawn upon by any nation, and so it could serve as an abundant source, of cheap raw material.

“ Wool’s best defence against these possible developments,” says Mr Freney. “ is to lower production costs to such on extent that the makers of artificial fibres have little margin for profit. thus removing the incentive for imitatin'* wool as a textile fibre. Wool’s disadvantages must also be removed so that it will become more popular these disadvantages are shrinkage, susceptibility to moth attack, and prickliness.” AUSTRALIAN STOCK EXCHANGES Pr«M Association—By Telegraph—Copyright -SYDNEY, February 14. Leading industrials were shaded on the Stock Exchange to-day. Retail stores continue generally firm. —Morning Sales.—

£ s. d. Commonwealth. Bonds— 3 per cent., 1948 9G 0 D 4 per cent., 1947 104 8 6 4 per cent., 1950 105 5 0 Tooths 2 13 9 Augt. Con. Industries (con.) 0 16 0 British Tobacco ... 2 9 6 Broken Hill Pty. (old) 2 9 0 —Afternoon Sales.— Bank of New South Wales 28 13 0 Burns, Philp 2 13 6 British Tobacco 2 9 6 Consolidated Industries 1 17 6 (cont.) 0 15 10 Hordern ... ... ... ... ... 0 13 11 David Jones 1 13 0 Gordon and Gotch 2 9 0 Colea 3 13 3 Oil Search 0 5 5 MELBOURNE. February 14. Commercial Bank of Australia (pref.) 8 6 0 National Bank (£5 paid) ... 6 4 0 Felt and Textiles 1 19 6 Henry Jones 2 15 3 Mount Lyell 1 12 9 Loloma 1 13 6 Placer Development 4 0 » The Carlton Brewery prolit for the year amounted to £138.000. The dividend is unchanged at a rate of 15 per cent.

FOREIGN EXCHANGES Press Association— Bj Telegraph— -Copyright LONDON, February 13. New York, dollar lo £1 4,03 Paris, franc lo £1 176i Montreal, dollar to £1 ... 4.45 Amsterdam, florins to £1 75.45 Switzerland, franc to £1 ... 17.90 Stockholm kroner to £1 ... 16.90 Athens, drachmae to £1 ... 540 Lisbon, escudo to £1 16.80 Kobe, pence lo yen 14 14-64 Hongkong, pence to dollar 14 29-32 Shanghai, pence to dollar ... 4 9-32 Brussels, belgas to €1 25.875 Rome, lire to £] 24.175 fokio, pence to ven 20.37 Copenhagen, kroner lo £1 20.50 Milan, lire to £1 78.50 (VIo. kroner to £1 17.7(1 Argentine, pesos to £1 ... 17.30