COMMERCIAL

Grey River Argus, 11 May 1935, Page 8

COMMERCIAL

(Per Press Association). DUNEDIN, May 10. Sales: Refrigerating (eont.) 9s Id (2). Reported: Union Bank £8 12s 6d; National Insurance £1 Is 8d; Dalgety £8 (late yesterday); New Zealand Drugs £4; New Zealand Breweries £2 15s 8d (late yesterday); Bendigo Goldlight Is; Waihi £2 2s 9d.

WELLINGTON, May 10 Sales: New Zealand Drugs £l. AUCKLAND, May 10

Sales: Farmers’ Trading 7s 9d, 7 10d; Pukemiro 22s 6d: Gas 28s, 28: 3d; Waihi 42s 9d; Broken Hill 55s Woolworth's Syd. 89s. CHRISTCHURCH, liav 10.

Sales: Comm. Bank Aust. 15s 10d; Bank New Zealand (eum. div.) 51s; Dalgety Co. (eum. div.) £8 6s 6d; Westport Coal (eum. div. odd lot) 21s 6d; British Tobacco 38s 8d; Dunlop Rubber 17s; Maori Gully Is 7d; Ml. Lyell 20s (3). Reported: Golden Point (late sale 9th) Id; Westport Coal (late sale 9th, cum. div.) 21s 6d; Reserve Bank £6 12s 9d.

At the Addington Market on Wednesday in the fat lambs section, top price of 26s lOd was secured for a pen of eight, sold On account of McDonnell Bros. (Totara Flat). Sales on behalf of West Coast clients included: Fat lambs, W. O'Malley (Ikamatua) 92 at 14s to 16s lOd; Morfin Bros. (Ikamatua) 80 at 12 s lOd to 15s 4d; McDonnell Bros. (Totara Flat) 35 at 20s 7d to 26s 10d; P. Prendergast (Ikamatua) 80 at 14s lOd to 17s Id; Te Kiuga Land and Timber Coy. 160 at 15s 7d to 20s Id. Fat sheep, Mrs E. Nicholas (Kumara) 11 at 16 s 7d. LONDON. May 9. Gold 143 s Sd, dollar 4.84 11-16, franc 73 9-16. SYDNEY, May 8. The Colonial Sugar Refining Coy., Ltd., for the half-year ended March 31, made net profits from factories and investments of £487,167, which, added to the balance on profit and loss account on September 30, 1934 of £387,794, brings the total to £874,871. The Board decided to pay dividends amounting to 12s 6d a share absorbing £365,625. thus leaving £509,246. The amount placed to re serve is £lOO,OOO. leaving the profit and loss account £409,246. The chairman (Mr E. R. Knox) said the output of raw sugar last season from Queensland and New South Wales was 620.624 tons, compared with 642,000 tons estimated in April, 1934. The falling off wa s due to excessive rainfall in the early months Australian mills produced 124,530 tons com pared with 140,237 in the previous

season. The output of the Fiji nulls w-s 112,806 tons, compared with 115,958 tons. The output from all Australian mills this coming season was estimated at 578,500 tons. The company’s Australian mills should produce 128,850 tons and Fiji 127 690

tons of sugar. The prices of sugai abroad showed a slight improvement which was likely to bo maintained There was nothing in the Greene Commission’s report dealing w?h the

sugar position in the United Kingdom which would cause a chance in policy in regard fo Empire-grown cane sugar. The general manager (Sir Phillin Goldfinch') back from a trip abroad, had submitted reports which revealed tho v are well abreast of other countries in manufacturing processes. Mr David Wilson was elected a director in place of Sir Norman Kator (re signed). OTTAWA, May 9. It is estimated that the average of spring wheat in Canada is 22,807,900, a reduction of three per cent, on 1931. WOOL MARKET. BRISBANE, May 9. The wool sales have concluded. There was a very strong market and values were very firm on rates ruling during the week. Top prices wereGreasy 16|d, scoured 26?,d. Trade experts express the opinion that there is every prospect of the market continuing buoyant at the next series to be held next week. ADELAIDE, May 10. Higher prices and keen general demand marked the opening of the woo', sales. The estimated rise was fifteen per cent, on the previous Adelaide market in April, and five per cent, on the last sales in the Eastern States: LONDON, May 9. At the wool sales 10,974 bales were offered, including 3740 New Zealand. About 5964 Austra'ian and New Zealand were sold. There was sustained Home and Continental competition. The firm tone of the opening rates was fully maintained. New Zealand scoured merinos, Braemar, top, 25(1, average 23^d, greasy crossbred M.B. 10|d—8fd. At Bradford, a fair amount of business was done. Seventies 28-jld, sixtyfours 2fi|d, sixties 25d, fifty-sixes 184 d, fifties 14d, forty-sixes lid, forties 9jd.

Dawson’s commenting on the opening of the wool sales, says: The selection was above the average. The outstanding feature was. the Continental buyers’ special keenness for crossbreds. It is thought that Germany bought little. Competition was brisk, but the outlook is difficult to gauge. Tops did not respond to the recent advances in raw material, and yarns were suffering from a spasmodic demand. Further rises in wool may check resumption, which is irregular. Worsted mills are fairly prosperous. The woollen section of the trade, however, is quiet. Many machines are idle. The greatest need at the moment is a rise in price of manufactured goods.