COMMERCIAL

Gisborne Times, Volume LXXIII, Issue 11878, 24 February 1933, Page 2

COMMERCIAL

SYDNEY WOOL SALES

IMPROVED JAPANESE BIDDING

GREASY MERINO BRINGS RECORD PRICE OF 26? d

11.1’.A by Elec. Tel Onj>yris:hi : (Received Feb. 23, 9.30 p.m.) SYDNEY, Feb. 23.

At the wool sales, 9295 bales were offered, of which 8312 wore sold, and 587 bales were disposed of privately. The market was very firm and competition was brisk and general, with improved Japanese bidding. A special feature was the demand for superfine wools. Greasy merino made 26?,c1, constituting a. new record for the season. The average price of wool sold tillring the three days of this week was £ll Os 4cl per bale, or 8.72 d. per lb.

EXCHANGE RATES

N.Z. -AUSTRALIA AD J USTMENT

An adjustment in the exchange rates New Zealand on Australia has been made.

The selling rate, New Zealand on Australia, is now at par, and the buying rate is £IOO IQs on the basis of £IOO New Zealand.

The “Sydney Morning Herald” of February 13 said that from that date tlie buying rate, Sydney on New Zealand, would be par. This means that the banks will pay £AIOO for £N.Z.100, instead of £99 15s for £N.Z.100.

. Before the rush of applications for transfers to New Zealand forced the banks to restrict their selling operations, the.selling rate, Sydney on New Zealand, was £IOO 10s. That left a margin of 15s between the buying and selling rates, and apparently the banks have decided that this was too wide. The selling rate will continue to bn quoted "irregular.” This is an indication that the restriction is still being observed, although what business has "been put through lately has been at the old carded rate.

StOCjK. . AND SuARE MARivET

(Press AssociM’on.r AUCKLAND, Feb. 23

Sales on, Change: Waitaliu, 4s 9d; Farmers’ Co-op, B pref., 12s- Auckland Gas,' 20s 3d; Henry Jones, 375; New Zealand Insurance, 45s 6d; South British, 60s; Commercial, Bank pref., £8 ; Colonial Sugar,'£s3 ss. CHRISTCHURCH, Feb. 23.

Sales on Change : Bank of New South Wales, cum. div. £2B 12s 6d (2); Dalge.ty and Co., £7 15s; New Zealand Refrigerating, 'los paid, 3s fid; Toohey’s Brewery, 20s 3d; Beath and Co., *ls paid,' 2s; Gillespie’s Beach, Isa sjd. ■ j DUNEDIN, Feb. 23. Sales. on Change : Standard Insurance, 1 50s!;' Dunedin Brewery, "21s. 6d. , Reported sa\e: Dominion Fertiliser, ios. 1 r ’ i j

LONDON DAIRY PRODUCE! MARKETS s. ■ t." l T ; . • Tlici N.Z. Loan and Mercantile Agency Co; Ltd.'.havo receivcd 'the following cablegram . from : their London ■office, under date Feb. 23: Butter,: 74s per cwt.y market • steadier ; • cheese, white, 425. to 43s'; «IoW.” . V' ! _ ' 4