COMMERCIAL

Greymouth Evening Star, 8 September 1939, Page 12

COMMERCIAL

WOOL PRICES FIXED. [by CABLE —PRESS ASSN.—COPYBIGHT.] LONDON, September 7. The Wool Controller has permitted dealings in wool and certain partlymanufactured goods. He, has fixed minimum prices, including tops, as follow: Sixty-fours, warp 26 Jd per lb, fifty-sixes super 211 d. Australian scoured clothing fleece seventies quality 22Xd. Scoured super merino clothing sixty-fours quality 228 d. New Zealands all 50/56 quality scoured second pieces 13Jd. Slips of lambs 15id, and greasy average lambs 12|d. BRADFORD TOPS. LONDON, September 7. Bradford dealings have been resumed under license. Tops are quiet at fixed prices, and yarns are tending to become firmer. BUTTER AND CHEESE. LONDON, September 7. Butter and cheese are quiet at standstill prices. GOLD AND EXCHANGE. LONDON, September 7. The bank rate is unchanged. Gold 168/-, dollar 402 to 406, franc 1751. The Stock Exchange resumed quietly, with about half the normal attendance. Prices generally are steady, and British funds are slightly above the minima.

NEW YORK STOCKS. NEW YORK, September 7. On the stock market, despite.the resistance of profit-taking, the. upward pressure continued. “War babies,” "with th'e v exception of steel, which declined, showed reserves of strength. Railway and petroleum shares were among the new favourites. . The commodities markets were a helter-skelter affair. Sugar was most .buoyant, opening with the daily per.missable gain of 25 points. All grains 'rallied sharply, after opening losses. The day’s sales totalled 2,600,000. ! CANADIAN GRAIN PRICES. WINNIPEG, September 7. It is announced that the maximum price, changes hereafter permissible •daily on all grains, including wheat, will be ten instead of five cents.

ARGENTINE WHEAT. CHICAGO, September 7. Private Buenos Aires cables report the sales of 100,000,000 bushels of Argentine wheat to England. RESERVE BANK RETURN. A decline in sterling exchange and a further substantial increase in advances to the State are shown in this week’s Reserve Bank return. Sterling exchange is £418,898 lower at £5,271,810. Advances for marketing are £454,577 lower at £5,329,122, but those for other purposes have risen by £1,000,000, to £14,850,000. ’The note issue has again expanded and there has been an increase in demand liabilities, a rise in State deposits more than offsetting decreases in others. Investments are £163,180 higher. The proportion of reserve to notes and other demand liabilities has fallen from 28.112 per cent, to 26.456 per cent.

'■ BLACKWATER MINES The Blackwater Mines’ return for August is:—Crushed 4945 tons, yielding 2404 fine ounces of gold from all sources, including clean-up of old battery, the value of which, taking gold at 148 s a fine ounce, was £17,788. Working expenses were £9369, leaving a working profit of £8419. Development expenditure was £697, and capital expenditure £746.

BLACKBALL CREEK. The return from the Blackball Creek dredge was 55 ounces for 117 hours. STOCKS AND SHARES. CHRISTCHURCH, September 8. Sales: National Insurance 16/6 (2), Goldsborough Mort. 29/-, Electric Zinc (pref) 58/9, Mount Lyell 30/-. v SYDNEY, September S. Commercial Bank of Sydney £l6/5/-, Bank of New South Wales £24/18/-. Tooths 47/3, Anthony Hordern 12/7, Australian Consolidated Industries 31/4J, British Tobacco ex-div., 43/6.1 Drug Houses 22/3, Broken Hill Pro-1 prietary G4/9, Electrolytic Zinc- 53/9.