COMMERCIAL

Grey River Argus, 30 July 1940, Page 5

COMMERCIAL

Sheepskin Prices FOURTH SCHEDULE CHRISTCHURCH, July 29. The fourth schedule of sheepskin prices, the result of the United Kingdom Government’s quarterly review, will be issued by the New Zealand Sheepskin Control to-day. Prices are down about 4d to Id per lb on those of the third schedule, which came into operation on April 29, but they are, roughly, on a par with pre-war values.

Full particulars of prices will be made available to brokers and others interested to-day. The range of prices is as follows:—

BRITISH BUDGET LONDON July 26. Because small wage earners, who account for two-thirds of national consumption, have been insufficiently taxed, financial commentators declare that Sir Kingsley Wood’s Budget has made inflation almost a certainty. It Is estimated that those earning less than £250 annually are receiving the bulk of the nation’s additional wartime income of £800,000,000. “Thct Statist” estimates that this group is contributing not more than £60,000,000 of the expected additional revenue. WOOL PRICES. LONDON, July 27. There is a good deal of discussion about the redistribution of the world’s raw wool, also th e wool textile markets. It appears increasingly improbable that woof prices will advance further Some South American reports predict that the rearmament programme will create new stimulus, but the United States thus far have only slightly increased American values. Argentine exports to May are 20 per cent, below those of the previous season. The Uruguayan market has suffered severely. Britain’s established markets for yarns and cloths have been reduced, but competition overseas from European mills has ceased. It is thought that some valuable new markets can be captured. However, British firms ask high prices and have no intimate knowledge of markets Tike the South American. Bradford circles are again corm menting on the growth of direct exports from the Dominions to foreign countries. Britain’s re-exports of wool ar e believed to b e declining. For this reason the Canadian mills are rapidly increasing production and South Afri« can woolgrowers are urging their Government to investigate the erection of woollen mills in South Africa NEWTON, KING LTD. Accounts of Newton King, Ltd., merchants and stock agents, New Plymouth, show a net trading profit of £25,571 for the year ended April 30. against £20,206 in the previous year. Of this £16,010 is transferred to taxation reserve, making the total £22,249. The appropriation of the previous year wa s £9500. The net result, therefore, is £9561, against £10,706 in 193839. With £28,267 brought in, there Is £37.828 available. No dividends are recommended Preference dividends are 10 years »’ arrears, the amount owing being £95,217. The sum of £6750 was vided for depreciation, against £8736 a year ago. The balancing total is £81,204 lower at £578,990. The amount owing to the bank has been reduces from £260,212 to £152,290. Creditors ar P £6145 higher at £100,028, whirdebtors are down by £79,622 to £340,898. Stocks, plant, and properties ar e all slightly higher. TREASURY BILLS. LONDON, Julv 23. The amount applied for in tenders for £65.000,000 Treasury bills was £125 785,000. The average rate per cent, for bill's at fhree months is 20s 4.44 d against 20s 4.45 d a week ago.

Full Wools Quality. Super Sound 2nds. Dead d. d. d. d. 56-60’s 101 93 83 8 50-56’s .. 10 91 81 71 48-50’s 91 83 73 7 46-48’s 91 81 71 63 40-44’s 9 81 71 61 Three-quarter Wools 56-60’s 93 9 8 71 50-56’s 91 81 71 63 48-50’s 83 8 7 61 46-48’s 81 73 63 6 40-44’s 81 71 61 53 Hoggets 56-60’s 93 9 8 71 50-56’s 91 81 71 63 48-50’s 83 8 7 61 46-48’s 81 73 63 6 40-44’s 81 71 61 53