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Grey River Argus, 21 October 1936, Page 3

COMMERCIAL

(Per Press Association). CHRISTCHURCH, October 20. Sales: Comm. Bank of Aust. 18 s 4d (2); N.Z. Refrig. (10 R paid) 9s 7d (2); Christchurch Gas 28s (2); N.Z. Breweries 50s lOd. 50s 9(1; Broken Hill Ptv. (cum. div.) 78s 70, 78s Bd. 78s 7d; Dunlop Rubber 17s 9,1 (2); Henry Joni's Co-op. 45s .30; Mossy (.'reek Is 31(1; Mt. Lvell 31s 3d (8). Reported: Goldsboro Mort, (late sale 19th) 34s 2d (2); Broken 11,111 Pty. (15s paid, cum. div.) late sale 19th, 59s .id; Kauri Timber 24s 10(1; .100 Mt. Lye .1 32s lOd; Mt. Morgan 14s 3d; Rawang Tin 9s 4d. Unlisted stoekst Shilling-'.. Ltd. (£1 paid) 21s; Woolworth’s (Syd ney, ord.) £5 18s (id. AUCKLAND. October 20. Sales, morning; Broken Hill rights 2s 8d; Komata Reefs 7s; D.T.C. 16s; Harmers’ Trading 18s lid; Comm. Bank 18s sd; Dunlop 17s lid; Devonport Fij’ry 21s; Macky Dogan 22s 3d: Iron Steed pref. 2,6 s 3d; Bank of New Zca'and 42s 6d; Breweries 50s 7d Glass 95s 3d; Wood worth’s (Sydney) £5 18s Gd; Bank of N.S.W. £3.3 15s; Brick (Auckland) £99 15s. Sales noon: Morts 11s lid; Nat'onal Timber 13s 3d; Coles (rights) 355; Zine 47 s 9d; Tooth’s 56s (id; South British 90s (id; Woolworth’s (Sydney! £5 I'7s (id; Comm. Bank pref. £9 3s Stocks (39/43) £lO2, (43/4(1) and (46/49) £lO4. WELLINGTON. October 20. Sales: National Bank N.Z. £3; li'eet ro. Zine ord. 475, pr<|f. 48s lid; Mt. Lyell 3.35; 31 laser., 1952. £lO4 7s 6'l’. Comm. Bank LB-. sd; Bank of N.Z 425; We'iington Gas 37s (id; Ma. hi Is 4(1; Woolworth’s Ltd. £5 18s 3d. DUNEDIN. October 20. Sales: Bank of N.Z. 425; Mt. Lyel’ 33 s 3d. Reported: Government stock '194.3-46) £lO4 2s Gd. After call; Dunlop Rubber 17s 10d. SYDNEY, October 20.

Sales: Comm. Bank Sydney £2O 10®; Tooth’s 56s 9d; Associated News pref. 23s 6d : Brokcyi IP"! Pty. 80s 3d. new Gls; G-oldsboroiigh 34s 6d; I-lowar* Smith 18® 101 d; Pitt, Son, Badgery 43s (id. WOOL MARKET. LONDON. October 19. Bradford wool market is firm at Into rates. Fine crossbreds sell ng freely: temporarily scarce. Yarns firm, as spinners are better employed. The Australian Asspe/ated Press correspondeni in Berlin says that ■ serious .shrin’kage of German woo. stocks, Owing to an inability to export .sufficient manufactures to obta' foreign to pay for the im portly is shown in the German Woo' Trade Association’s statist'c®, disclosing stocks of combed materia's chiefly crossbreds, held by five Ger many comb'ng works. These decroason dur'ny September from 4 508,00(1.000' tn 4,028.000.0001 b. compared with 10 263.000.0001 b held in September 1935. Scoured wool decreased during September from | 503,000.0001 b to 1.214.000.0001 L. compared w th 8.226 OOO.OOOi'h held in September 1935. Th 1 ' fall consisted chieflv of 2,125,0000001 b e.f crossbreds. It is problematica 1 whether Germany \vill be able to replenish stocks .in present circumstances. but live large, cel'ulose wo z faefowes, iwlricli are the staring point for both synthetic wool and cotton recently began operating, with a sxt' building at Seigburg in view. Th aim of the output is 80,000 tons of cellulose wool yeai/v by the <|ad ( >f 1937. Which will bei enough in ar emergency to cover halt of Germany’s need®’ in woof, BRISBANE, October 19. At the wool sales, the record price for the season, 23d. (was obtained. BUTTER MARKET. LONDON, October 19. Australian Kangaroo and New Zea Land cWeest butter, after an erratic week, firmed at about 965. Previous high pr’-c.b had checked the demand,, while heavy .stocks, arriv'ng found buyers well supplied. CURRENCY MARKET. AMSTERDAM, October 19. The Dutch Bank rate ha s been reduced front three to two and a-ha f per cent. ALEXANDRIA. October 19. Speculators arclt heavily buying sterling, due to persistent fears of th l ' devaluation of Egyptian currency. LONDON, October 19. Gold 142 s did; doK'ar 48,Ud; franc 194 31-32. A lively buying account, tn which dealings somewhat equal’ed those of the 1929 boom, and which covered th period of devaluation by the gold bloc and the introduction of the Morris Motor shares, ended firmly. The tone throughout was confident and . unshaken even by Continental polit’c.s which, moreover, have resulted i’ more capital coming to Britain, there-, by increasing the abundance of money. There has been a bul’ish pressure on investments, but the chief reason for the buoyancy is the steady r'se in primary products, resulting in fp-rog<ie=sivcly ' increa.sin;g industria’ profits. The/prospect of improvement : n international trade and finance wa early marked by profit-taking in industrials keeping values at a reason aide level. Gi't-edgeds were then the most prominent, especially British funds. Dominions wore firm, but foreign loans, especially German, le fleeted the international anxiety. N.Z.-AUSTRALIAN TRADE. SYDNEY, October 20. Sir A. Parkhill, in a report to the Federal Cab'nef, stales that New Zealand is anx’ous to co-operate with the Commonwealth Government at the oard'-est possible date, to improve trade relations between the tiwo Dominions. His report is now before the Cabinet, and it is expected that a furlin'’ communicatiion wll be sent to the. New Zealand Government in the near future, dealing With the specific points that have been raised. Sir Char’e Marr. M.H.R.. speaking at Ro.se Bay, said he wan’d like to see free trade between Australia and New Zealand. BRITISH TRADE QUESTS. LONDON, October 19. The “Telegraph” regards Mr K rkpntrick’s appointment, iwhich ■ s on’y one of its kind, a®' an ind’eation of a new drive for: trade. It cs cons'dero.i that more* stable Chinese conditions are njow favojurab’e to large developments of elqctrificKtions, drainage systems and railways, for which Germany. Belgium and Czechoslovak a are bidding. The Exports Credits Guarantee Department announced that they have ‘appointed a representative to go out

to China -ter examine and consider on the spot the proposals submitted foi guarantees in connection with (export of United Kingdom goods. The new representative, who will nv.ork in c cs contact with the Commercial Conn el lor to the British Embassy,, will make any detailcld investigations required, anil v;VI assist, if necessary, wth iKgotiaiions or seek order", but he solely concerned with the limine al amt economic merits of the proposals for the export uf United Kingdom goods.

Exports to di inn have always been within the scope of the scheme, and the present appointment simply provides machinery for faei’fitat'.ng the application. The, announcement pouts out that the Export Credits Guarantee Department deals with exporters in the United Kingdom only, and adds (lint there is no truth in tho reports which have been in circulation that a loan or cre'd. t has been negot’ated with the Chinese Government. The Department has nppo : ‘nte ( ] tt" representative Mr W. M. Kirkpatrick,. who for many years represented British and commercial finaneia 1 interests abroad. Mr Kirkpatrick’s appointment w>'ll necessitate his res-gn-ing the seat in Parliament he has held since 1931 as one of the two Conservative Members for [’rc.ston. This makes the fifth by-eteet'on pending. Tn view of the fact that negofmt <>ns are now in progress between His .Majesty’s Govetrnnient ami the Government of India for a trade agreement in replacement of that concluded a' Ottawa in 1932. which terminates ■ November .13. it has been agreed by tho two Governments that, pend ng .-■ new agreement, the 1932 agreement shall continue in force,, subject to termination at throe months’ noUce by either side, unites it is rcp'aeed bv a new agreement. LONDON,. October .19. The Overseas Trade L eague has merged with the Empire Migration Settlement Group, under the Pile or the Empire Migration Settlement Movement, with a view to stimulating m'.grat on, coupled with properly oranigse,] and adequately financed settlement wfthin the Empire,.

Mr 11. A. Donaldson, jo ; nt organising director of the Movement told the Associated Press that thousands of applications by prospective migrants were received before the amalgamation. Those interested in migration arct fed up with the lack of Government results, and felt- nothing could be done till there, ts co-operative effort of every voluntary body in Britain to speed on the Government’s action. Official circles do not oppose- the new body. It is known that many leading citizens are beh.nfl the .move. OPOSSUM SKIN SALE. Dalgety ‘and Co. Ltd., D'unedm report as follows:— At the last sale for the season held to-day 42,000 skins were offered by the associated brokers. Of this quantity our eatelogue comprised 24,500 skins, bringing our sales for the season up to 111.864 skins. The bulk of the offering at fo-day’s sale were Northern skins, and the quality generally was Tiferior to last sale. Light colours, i.e. blues, greys and red necks, were Gd to 1/- lower, although the demand was still good, espeica.lly for selected skins of which our best blues sold at 16s each. There was a good enquiry for blacks and browns, which may be ouoted very firm on last, sale's rates. Our top price for blacks was 7s lOd.