COMMERCIAL.

Gisborne Times, Volume LXVIII, Issue 10727, 26 October 1928, Page 2

COMMERCIAL.

RAW COTTON FOR "WORLD, EMPIRE! PRODUCES THIRD. KEATARKABLB PROGRESS. (British Official Wireießß.) RUGBY, Oct. 24. The British Empire ■'now produces 30 per, cent ..of'the world’s raw .cotton. .This statement is made by the Elmpire Marketing -Board in an announcement which it makes to-day regarding the remarkable progress of British cotton growing. _ It is recalled how for centuries Britain was the home of cotton manufacturer, while raw cotton came all from overseas, largely from the southern States of America. Tlio American crop 'failed during the. American, Civil War, spreading misery and famine among hundreds of thousands of British cotton workers. Thirty years ago. one of the master spinners of Lancashire sent ten tons of cotton seed to British West Africa. The experiment succeeded and more and more of the great open spaces of the Empire, are being planted and sown to, ensure a supply of raw cotton for the spindles and looms of Lancashire. The supply now conies from East and West Africa, the Sudan, Rhodesia, South Africa, India, Australia, and British (West Indies. The Empire’s production of tlio world’s raw cotton to-day amounts to between £3,000,000,000 and £4,000,000,000 a year, so that before long it is predicted that the cotton industry will he (self-contained within tlio Empire.

P. AND 0. DIVIDEND United Pros* Assn, by 111. Tel. Oopyriifin Australian Press Assn.—United Service LONDON, Oct-. The P. and O. has declared a dividend of 7 per c,ent. tax free., for the year on, deferred shares. The tallow sales not held owing to the limited supplies. CHICAGO WHEAT PRICES. United Press Assn, by El. Tel. Copyright (Australian Press Assn.* CHICAGO. Cict. 24. "Wheat: December, 112£<; March, 118; May, 120 J cents. STOCK AND SHARE MARKET. ■ -5 cPress Association.) AUCKLAND, Oct. 25. Sales on ’Change: Renown Collieries. 16/3; Auckland Gas. 23/1. Reported sale: New Zealand Breweries 24/5. WELLINGTON. Oct. 25. Reported sales: Union Bank of Australia, £ls/7; Wilson’s Cement, 40/- (2). j CHRISTCHURCH. Oct. 25. Sale on ’Change: Mahakipawa, L/4. Reported sale: Government 4.1 per cent. Inscribed Stock, (1933), £lOl/5/-. DUNEDIN, Oct. 25. Sales reported: Union . Bank ot Australasia; £ls 7s; New Zealand Breweries £2 15s. ENGLISH WHEAT MARKET. United Press Assn, by El. Tel. Copyright Australian Press Assn. —“United Service LONDON, Oct. 24. Wheat cargoes are inactive, and mostly lower. Parcels are irregular but high grade Mani totals are mostly dearer. Lower grades are quiet and lower. Liverpool futures: December 9s 2fd; March-May 8 s 2£d. LIVE STOCITMARKET. waipukur.au sale. The weekly stock sale was held atV aipukurau on Tuesday, when a fair varding of cattle and only three •mall pens of. sheep was offered to a fair attendance. A fair yarding of beef, but none extra prime, sold at ••rices a little firmer than last week’s sale. Other cattle also sold well. Fat bullocks brought .£IC : Jos to Sl4, fat cows £9 to £lO 12s 6d, light lows £6 to £7, forward young cows and heifers £G to £6 17s, yearling P.A. heifers £4 to £5 3s. P.A. eews with calves at foot £lO 3s, dairy cows up to £7 sss. Two small lots of woolly fat ewes were passed at 32s and 33s 9d, a line of mixed sex hoggets sold at 30s sd.

AUSTRALIAN PRODUCE MARKETS. united Pi’ens A sen. by El. Tel. Copyriglil (Australian Press Aasn.i (Received Oct. 25, 10 p.m.) SYDNEY, Oct. 25. Wheat at country.stations is quoted at 4s Id, ex truck, Sydney 4s Bid. Flour: The local market is quiet .at £l2; bran and -pollard' are reduced tOs each to £6 10s. Oats, Tasmanian white 4s 8d to 4s lOd, Algerian 4s 6d to 4s 9d: maize 4s;' potatoes, Tasmanian £7* 10s fo £8; local new to £l2; onions. Victorian £IS. ADELAIDE. Oct. 25. Wheat, growers ’lots, old, 4s 8d to 4s Od, new seasons 4s Bd’; flour, halters’ lots £ll 15s; bran £6 10s; pollard £7 2s 6d; oats 3s 3d. MELBOURNE HIDES SALES. Uun«Hl Press Assn, by El. Tel. Copyright (Australian Press Assn.) (Received October 25, 11.5 p.m.) MELBOURNE, Oct. 25. At the hides sales, prices generally were one-eighth of a penny to one farthing higher, excepting for kips.