COMMERCIAL

Greymouth Evening Star, 11 February 1929, Page 9

COMMERCIAL

TIMARU WOOL SALE. (Per Press Association.) TIMARU, February 10. The second South Canterbury WOO J sale of the present season concluded on Saturday morning. The main catalogue was disposed of in 5J h°Y i:s ' Taken all round, the sale was fairly satisfactory. Prices for super halbred wools were down fully «gd per lb. on the first sale held here in December. On the other hand, inferior half-breds were disposed of at prices relatively higher than those secured for super lots. Tliree-Quarter-breds and crossbreds went down about Id on the first sale of the season. The demand for merinos was restricted to a small range of buyers, and although the prices secured at auction were disappointing, quite a reasonable quantity was disposed of later at prices which were in many cases in advance of those obtained at the auction. There were not sufficient competitors at the auction to send merinos along. . Even though prices were easier at this sale, the growers generally met the market feeling that wool was still at payable prices. The Woolbrokers’ Association has not supplied the official range of prices, but the following is the approximate range:—

Merinp, super ISd to 213 d, average 16Jd to 173 d, inferior 14d to 21id; half-bred, super 19d to 21Jd, average 17d to 183 d, inferior 14d to 163 d; crossbred, super 15d to 17Jd, average 13d to 143 d, three-quarter-bred, super 18Jd to 21d, average 16Jd to 18Jd, inferior 12Jd to 153 d; Corriedale, super 18d to 20.3 d, average 16d to 18d; bellies and pieces: Merinos, good to super 113 d to 173 d, low to medium 8-fd to 11 Jd; halfbred, good to super 153 d to 19d, low to medium IOJd to 153 d; crossbred, fine dead, 183 d to 191 d, average 10Jd to 15Ad; cotted 113 d to 154 d; crutchings lOd to 13d; neck pieces 16d to 175 d; Corriedale pieces 15Jd to 18Jd; come-back up to 19Ad, fine black up to 143 d.

STOCKS AND SHARES WELLINGTON, Feb. 11. Reported Sales: 41 per cent. Inscribed stock 1938 £lOO, Pukemiro Coal £3/7/6, Blenheim oil well £5/ 15/- and £4/15/. DUNEDIN, Feb. 11. Late sale reported (Saturday): Blenheim £5/2/6. AUCKLAND. Feb. 11. Sales: Taranaki oil 5/4, Ohinemuri Mines 8/3, Waihi 14/2, 14/1. Auckland gas 24/2, Commercial Bank 29/11. U.S.A. FINANCE. NEW YORK, February 10. As the result of calling in some forty million dollars in loans by the banks, the call on the money market advanced from 6 to 9 pel' cent, during the day. This induced heavy selling on the Stock Exchange, and the market suffered several sharp breaks, with a recovery towards the close, the stocks ending well below yesterday’s closing prices. There were losses up to above eight points in individual stocks. The trading was approximately 4,500,000 shares.