COMMERCIAL

Grey River Argus, 17 March 1932, Page 2

COMMERCIAL

B.A.W.R-A. FINAL DIVVY. WORLD’S RECORD WOOL DEALING. MELBOURNE. March 16. The liquidators of B.A.W.R.A. made a final distribution of 16d per share to contributors, absorbing £753,532. The series of such payments now agg.egated £236,741,955, representing the greatest wool transaction in the world’s historv. NAPIER WOOL SALE. NAPIER, March 16. Numerous withdrawals were the order at the Napier wool sa’e, this morning. The opening prices were on a par to a farthing above th° Wellington rates last week showing a drop of about a halfpenny to a penny on the last- Napier sale. Fine quality fleece wools created eager bidding, mainly from Bradford, but many lots were passed in. Th- quality, as a general rule, was below that at last sale. SHARE MARKET. DUNEDIN. March 16. Sales Reported: Bank N.S. Wales £25; Okarito 9s; 1937 5J February Stock, £971. On ’Change: King Soomon, Is 2d. AUCKLAND, March 16. Sales: Blackwater Mines 6s; Farmers’ Trading 5s 3d; Waihi 16s; Farmers’ Trading B. Pref. 10s 74d: Now Zealand Insurance 36s 9d; South British 49s 9d. N.Z. EXCHANGE QUESTION. WELLINGTON, March 16 The meeting of the Chamber of Commerce passed the following resolution last night:— “That this meeting records on behalf of the commercial community appreciation and gratification at the announcement by the Minister of Finance that the Government’s decision has been against any artificial raising of the exchange rate between Britain and New Zealand. The Government's pronouncement upon the exchange question has removed feelings of upsetting uncertainty in business circles that had arisen from the recent controversies upon the subject and relief is felt accordingly.” The Chairman (Mr C. J. Norwood) said the move to raise the exchange rate had been fought and fought hard by the Associated Chambers of Commerce, who had stood for business freedom, and minimum Government interference. The Finance Minister’s statement has not cleared the position completely, but it had been a material relief to the commercial community.