COMMERCIAL

Grey River Argus, 14 March 1940, Page 4

COMMERCIAL

CANTERBURY WOOL.

CHRISTCHURCH, March 13. The fourth Christchurch wool appraisal for this season is at present 'being made, about 13,000 bales having been offered. It is expected that the valuing will be completed by this evening. With the completion of this valuation, about 79,500 bales will have been appraised in Christchurch, and it is not likely that more than 5000 or \6OOO bales will be left to pomeJforward. No date has been fixed yet for the fifth appraisal, which will be mor e in the nature of a washing-up sale. The total number of bales to be offered in Christchurch this year is smaller than usual because the clip generally has been lighter, and because a considerable quantity of wool was offered in Blenheim instead of coming to Christchurch for sale. The wool at present before the vayuerfc: is typical of the pfferings usually made at this time of the season. A great deal of it is of crossbred from the West Coast, and wool from the high country stations. The offering would have been larger had it not been that the floods recently prevented part of some clips, and in some instances whole clips, from being delivered. It is likely that the total return from wool sold in Canterbury this Iseason will approach £1.450,000. East year the total was £1,284,000, but in several earlier seasons the total was ■bigger, DUNEDIN RABBITSKIN SALE. DUNEDIN, March 12 Fair-sized catalogues 'Of trabbitskins were brought forward at today’s sale before the usual attendance of exporters, furriers and the local trade,. Twenty-nine tons were submitted and there was a fair demand Summers and low grades were easier while 'other descriptions, especially racks, shelved appreciation. The official range of prices is as follows:—Small 16d to 181 d, runners 30*d to 34d, light racks 41d to 42Jd, prime tacks 40d to 40M, summers 24M to 27§d, summer broken 241 d to

25iSd, winter broken 35d, dawny autumns 40d to 43d, spring bucks 411 d to 494 d, spring does 32Jd to 371 d, milky 23Jd, to 26d, first milky 34id to 37d, blacks 18d to 30d, horsehair 22d to 26id, fawns 24i'd to 281 d, ferrets 28d to 37d. STOCK EXCHANGES. CHRISTCHURCH, March 13. Sales: Govt. 1948 Stock £lO3 ss; Mount Lyell 35s sd. Reported: B.H.P. 51s 9d (6). WELLINGTON, March 13. Sales: New Zealand Breweries 36s 9d Woolworth’s (ord.) 24s 7d. .Sales reported: New Zealand Breweries 36s 9d; Broken Hill 51s 6d (2) & 51s 9d (2), Electrolytic Zinc (pref.) 625; Macduffs Ltd (ord.) 7s; Taranaki Oil 7s 2d; Martha Gold 8s 8d; Woolworth’s Holdings (South Africa 16s. BROKEN HILL MINE. WELLINGTON, March 13 Advice has been received by the New Zealand Stock Exchange Association that the Central Mine, Broken Hill, will cease productive operations on March 21. IRON AND STEEL DIVIDEND. WELLINGTON, March 13. The New Zealand Stock Exchange Association has received cable advice from Australian Iron and Steel, announcing the intention to declare a dividend, payable on May 1, this year, on preference shares, for the two and a-half years ending May 1, 1940, at the rate of 7i per cent, per annum, subject to a reduction of 22f per cent, under the Interest Reduction Act. BRADFORD YARNS. LONDON, March 11. On the Bradford market it is difficult to place orders for yarns because spinners have already sold the full limit of their allocations of raw material. This will help to keep prices of yarns firm. There is some slowing down of machinery activity. HIDES EXPORT LEVY. WELLINGTON, March 12. At this morning’s meeting of the Hides Committee the levy to be paid

by exporters was fixed at the following prices per lb of declared export weights:—Ox and cow hides, 5-8 d; bull, M; yearlings, ?d; calf skins, Id.

The new hide regulations are now in operation and auction will now proceed as usual. Exporters will now be in a position to bid with confidence to the full export value of all hides, and this will enable vendors to secure the full average value of their hides.