COMMERCIAL

Greymouth Evening Star, 12 March 1937, Page 8

COMMERCIAL

CHRISTCHURCH WOOL SALE.

ANIMATED COMPETITION. [PER PRESS ASSOi'IATIOX.I CHRISTCHURCH, March 12. Fine wools showed an easing of from id to Id per lb on the February rates, at the third Christchurch wool sale, to-day. Fine crogsbreds sold firi 'oJ' and coarser types were from Id to l a d dearer. The sale was characterised by animated competition for all types of wool, and general buying, with Bradford and the Continent taking the bulk of fine wools, and American buyers operating freely for crossbreds, suitable for carpet manufacture. 'The local mills were not particularly active. , !„ n The offering totalled 20,->4 bales and represented the usual types of wool sold at the third auction of Hie season. In quality, the offering did not come up to the class of the woo sold at the corresponding sale last year, many of the clips having suffered from the effects of the wet season. Very little super wool was included, but these few lines met with keen competition. Much ot the wool showed too much yolk stain. A good proportion of the offering comprised back-country clips, with crossbreds from the West Coast and late-shorn Peninsula flocks. More piece wools and crutchings were offered than usual, growers having held these types back, in their desire to clear the main part of their clips at the attractive prices ruling at the earlier sales The best price during the morning was 243 d, paid for four bales of super ‘halfbred ewe, branded Denbrae. Merino went up to 22d, this price bein'g realised on four bales of super combing, branded Gerard. The best price for crossbred was 183 d, paid for 12 bales of hogget branded Z.I.H. Corriedale made to 223 d, paid for Glenmore. Halfbred pieces made to 20d, the best price for Corriedale pieces being 173 d. Merino pieces went up to 183 d, paid for 21 bales in the big Algidus clip. Six bales of super scoured lambs’ wool made 223 d. the brand being G over D.G. On the first four catalogues, which were sold by one o’clock, about 13,900 bales, or more than half the offer, had been disposed of, the passings being almost negligible, amounting to less than half of one per cent.

TIMARU SALE. TIMARU, March 11. The second Timaru wool sale of the season, which was to have been held on Tuesday next, has been advanced to Monday evening, to suit the convenience of buyers. The catalogue will probably be 24,000 bales. WELLINGTON’S £2,000,000. WELLINGTON, March 12. More than £2,000,000 has been realised at three wool sales held in Wellington, this season, compared with £1,118,000 for the corresponding sales last season, and £552,900 for the 1934-5 season. The average price per bale this season ranged from £2l 15/4 to £24/6/-. AT LONDON LONDON, March 11. At the wool sales, 8,950 bales were offered, including 4586 New Zealand, and 8362 were sold. A moderate selectiaon met with active competition at full rates. New Zealand greasy crossbred, Katatane, top price 181 d. average 16Sd. WHOLESALE PRICE LEVEL. [BRITISH OFFICIAL WIRELESS. | RUGBY, March 10. The Board of Trade index of wholesale prices was 1 per cent, higher in February than in January, and 13.3 per cent, higher than a year before. Average prices in February were higher than in any month since March, 1930.

GOLD AND EXCHANGE. LONDON, March 11. Gold 142/41, dollar 488 5-8, franc 1063. BUTTER AND CHEESE LONDON, March 11. Butler firm. Danish 125/-. Choicest salted Australian and New Zealand 97/-, unsalted 98/-. Cheese firm. New Zealand white and coloured 58/- . STOCKS AND SHARES. DUNEDIN, March 12. Sales: Commercial Bank 19/6; Hume Pipe £l/0/8: Electrolytic Zinc, ord., £3/5/6 (2); Mount Lyell £2/13/6, Rawang Tin 13/9 (3). After call: Commercial Bank 19/6. Reported: Commercial Bank 19/6 (2); Electrolytic Zinc, ord. £3/7/6 (3); Mount Lyell £2/13/8; National Bank £3/3/-; Australian Glass £4/12/9; Gillespie 1/61. AUCKLAND, March 12. Sales: Farmers Auct. B Pref 21/6, Colonial Sugar £43, Milne and Choyce (Dei)) (Stk) 16/10, New Zealand Refrig Con. 8/7, Roller Mills Pref 22/1, Gillespie’s Beach 1/6, Broken Hill South 59/6, Mt. Morgan 18/5, Placer Devel £5/5/3, Rawang Tin (2) 14/-. Unlisted: Perpetual Forests 52/-, Coromandel Gold 1/8. CHRISTCHURCH. March .12. Sales: Bank of New Zealand -13/9. 44/- (3), Union Bank of Australia £ll 2/-, New Zealand Breweries 59/8, Tooths Brewery 56/- t Colonial Sugar £43, Consolidated Brick 10/1 (4). Electrolytic Zinc (ord.) Cum Div 66/-. 65/9, Electrolytic Zinc (Pref) Cum Div 67/-, 67/2, 67/5, 67/7. G. J. Coles (Cum Div.) £‘s/5/- (2;, Hume Pipe (Aust..) Cum Div 20/6, 20/5, Now Zealand Drug Company (Cum Div) 76/3, Taranaki Oil 4/- (2), Worksop Extended (Cum Div) 1/8, Mount Lyell 53/4 (3), Mount Morgan IS/G, Rawang Tin 13/10. 13/9. Unlisted: Woolworth's (Svdnev) Ord £B/1/6. AUCKLAND. March 12. Sales: New Zealand insurance 59/-. i 59/6, Loan and Mercantale £45.i Broken Hill Pty. £’4/1(1/-, Colonial Sugar £43. Electro Zinc 66/9 (2). G6/-,j pref. 67/-. Farmers Trading B. Pref. 22/6, G. .1. Coles £5/4/6. Peters Ice 26/-, Broken Hill South 59/6. Mt. Lyell 54/- (6), 53/3, King Solomon 9d., Placer Devol. £5/6/-, Slock, March 39/43. pel- cent. £lOl/12/6. £lOl 15/-, 52/55 £lO3. WELLINGTON. March 12. I Sales: Wellington Gas 37./-, National' Insurance 17/11, 17/10, Broken Hill 90/-, Mt. Lyell 53/9, Selfridges N.Z. |

4/3, Selfridges old 39/-, new 38/3, 31 per cent. Stock 1949 £lO3, Comm. Bank 19/5, National Bank of New Zealand 63/-, Auckland Gas 22/-, New Zealand Refrig (10/- paid) 8/8, Coles £5 5/6, General Industries 21/-, Consol Brick 10/2, Mt. Morgan 18/6, Rawang Tin 13/11. SYDNEY, March 12.

Sales: Commercial Bank of Sydney £23; Bank of New- South Wales 38/-: Australgas A £l/1/-: Tooth’s 56/9; Anthonj’ Hordern 21/-: Associated News 24/11: Broken Hill Proprietary New 84/-; Burns Philp 81/-; Electrolytic Zinc 65/-; Pref. 66/-: General Industries 21/9; G. J. Coles £5/6/-; Goldsbrotigh 38/71; Lustre 22/6. WORKSOP DREDGE. The return from the Worksop dredge this week was 43 ounces for 137 hours and from 12,500 yards. NEMONA DREDGE. There will be no wash-up from the Nemona Dredge this week, oh account of a three day's’ stoppage to put in a new turnshoot.

BUNDI COMPANY Mr. John Henderson, of Christchurch, has been appointed local director of the Bundi Tin Dredging Co., as from March 1. WAITAHU DUNEDIN, March 11. The Waitahu Gold Mining Company reports that stripping of No. 12 paddock was finished last Saturday. The return from this ground sluicing was 16oz 4dwt. Elevating operations were to have begun yesterday morning.

NEW DREDGE CONTRACT

DUNEDIN, March 11.

Austral-New Zealand Mining, Ltd., has accepted the joint tender of A. and T. Burt, Ltd., and the Dunedin Engineering and Steel Company for a pontoon for its dredge. The contract includes the supply of steel, which will be in Australia, and also the fabrication and erection of the pontoon for launching. 'The dimensions of the dredge are: Length, 180 ft; width, 75ft; depth, 13ft Gin; total weight of steel, approximately 700 tons. The successful tenderers intend to erect the plant on the site for the construction. The steel work will not begin for about five months, by which time, it is thought, the steel will have arrived. NEW ZEALAND DRUG CO. DUNEDIN, March 11. The fifty-eighth annual report and balance-sheet of Kempthorne, Prosser and Company’s New Zealand Drug Company, Ltd., to be presented at the company's annual meeting, states that the unappropriated balance brought forward from the profit and loss account last year was £39,650/2/4, and the new profit for this year was £50,129/13/2, making a total of £85,189/0/6. The interim dividend for the half-year to July 31, 1936, at 31 per cent., absorbed £20,405. This leaves £ 64,784/0/6, which it is proposed to apply as follows: —Payment of dividend of 4J per cent., making 8 per cent, for the year. £26,235; contribution to staff provident fund, £2500; and to carry forward to next year. £36.049/0/6.