FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 4, 4 December 1931, Page 5

FARMING AND COMMERCIAL

WOOL SALE AT NAPIER. j:\TIIER better tone. Per Press Association. NAPIER, Dec. 3. . nt the Napier wool sale were Miieh on a par with those ruling at and on Saturday. A slight advance ; . lies and pieces was recorded at the . • : wool sale for the Hawke’s Bay 1 poverty Bay districts in the Drill Hall !' , afternoon and evening. It was notice, throughout the sale that competition particularly keen from buyers repre- . Continental firms when lots such j. j dies and pieces suitable to their repmerits were offered, but their limits C . ,1 elasticity, there being only three or ; bids for many lots placed before * j ; ,-e total offering was 22,612 bales, and L • : pugli there were a number of lots'pass- , in they were not nearly as numerous u was the case at the Auckland sale, when t -thing like only 50 per cent, of the c ■•- rings was disposed of under the ham- ' Indications yesterday were that from i" io 15 per cent, were passed out of ‘ ;2 bales before buyers. Fifteen to 20 F lent, of them were last season’s clip, :'h had been held by farmers waiting hope that better prices would be ruling. ] luring the time that the wool has been i - hi it has deteriorated and therefore it I not command as good a price as if it h i only recently come off the sheep’s The wool on the whole was in good concar on. Hogget wool was of the best standdel, but the dusty condition that has been , p vailing in some districts as a result of drought and the earthquake has had a

effect 011 tl,e fleece. Wool sold Auckland V h y . Slmi - lar to those obtained at among ConHni to the competition from M to* ' 8 ( i U,6rs prices advanced pieces. id ln the case °£ bellies and WMk' l^;, 11 ? 6 ' 1 ‘he majority of fleece is usually the case, but coinprices did - St> een * n this respect) prices did not rise accordingly. Fine good 6 * W K Ol from 7d to y ßd, and ftv of Sl F e t from 6d to 7d - The majorSd to sid.° ’ hoWever - sold P“ces f Lm inning that was at all shabby was wint hl a < i ne ’ w m d often an ioferior lot tainoH y wlt hout a bid. Tile benches coners tho , r . e Presentative gathering of buy®rS ’ * he Continent being strongly repre- . • T-hoir limits were not at all exiistve, and although on occasions competition was very animated up to a point) they would not budge beyond that. LONDON WOOL SALES. and Coy., Ltd., have received the dated In ? g ca ble fro / n t * le ‘ r London agents, d ated 2nd December, 1931: “The wool market has developed a weaker tone since tne opening and, m consequence, medium and coarse crossbreds are fully Ad to 3d lower and slipe wools generally Ad lower. Creasy Merinos and halfbreds, no change of any importance. Hogget wool is in good demand,' The following prices are current: Menno, super lljd to 12id; average, 9d to 9id; fine halfbred, super, 56-58’s, llid to 13id; average, lOd to lid; medium halfbred, super, 50-56 s, Bjd to 9£d; average, to 8d; coarse halfbred, super, 48-50’s, 7-Jd to ?'V era ß’ e > to 7d; fine crossbred, super, 46-48 s, 6id to 7id; average, 6d to 6id;

medium crossbred, super, 44-46’s, 6jd to 7d; coarse crossbred, super, 40-44’s, 6d to 6id; average, sid to 6d; Low crossbred, super, 36-40’s, 6d to 6id; average, sid to. s|d; pieces, 4id to sd; bellies, 4d to 4jd; locks, 2d to 3d.

FOREIGN EXCHANGES.

LONDON, Dec. 2.

The following rates on foreign exchanges are current to-day, as compared with par:

GOLD AND- SILVER. LONDON, Dec. 2. Gold.—£6 6s 7d per fine ounce, as compared with £6 5s on Tuesday, £5 17s lid on Monday, and £5 16s 6d on Saturday. Silver. —Cash, 19 7-16 d per oz.; forward, 19 5-Bd.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. The satisfactory, result of the general election, and probably the improvement in the Australian-New Zealand exchange rate were factors that made for an improvement in tlie demand for stocks and shares in the Wellington market yesterday. Government securities were in fair request and steady. The 5J per cent, stocks, 1937, at £9B 10s, were 5s higher, with a sale reported at £9B 15s. The 5% per cent, bonds, 1937, were down 5s at £93 10s. New Zealand Breweries bonds were firm at 21s 3d. Bank shares were in slightly better demand. Bank of Australasia were 6d lower at £8 17s 6d, but sellers held for £9 4s. Commercial Bank of Australia ordinary were firm at 15s 9d, and a sale was reported at 16s. Bank of New South Wales advanced 15s to £25 15s. Union Bank of Australia were in demand at £7- 18s 6d, with sales reported at £8 and £8 Is. Goldsbrough, Mort and Co. advanced 8d to 22s 2d, notwithstanding the announcement that no interim dividend for the half-year ended September 30 was to be paid. New Zealand Loan and Mercantile ordinary at £45 and Wellington Trust and Loan at £6 were unchanged. Insurance shares were steady. Gear Meat were in strong demand at 255. The company’s accounting period closed on Monday last. British Tobacco at 24s 3d were up 3d. Colonial Sugar were in demand at £36 10s, but sellers wanted £37 10s. Electrolytic Zinc preference were Is higher at i9s 3d. YESTERDAY’S QUOTATIONS. Buying and selling quotations at the morning call on the Wellington Stock Ex-

YESTERDAY’S SALES. The following sales were recorded on the stock exchanges of the Dominion yesterday : Wellington.—N.Z. Govt, stock, 5i p.c., 1937, £9B 15s, Commercial Bank of Aust., ord., 16s; Nat. Bank (Australasia), £5 pd., £5; Union Bank of Australia, £B, £8 Is, Wellington Woollen, ord., £4 6s. Auckland.—Govt, bonds, 4£ p.c., 1938, £96 17s 6d; Govt, bonds, 5i p.c., 1933, £9B; Inscr. Stock, 5£ p.c., 1933, £99; Inscr. Stock, 5i p.c., 1937, £99; City of Auckland, 54 p.c., 1956, £9B; Bank of New Zealand, £2 Bs, N.Z. Insurance, £2 Os 6d; South British Insurance, £2 14s; Northern Steam Ship, contr. 2s 9d; Electro. Zinc., prof., 19s 6d; Waihi, 16s; (2) 16s Id; 16s lid; 16s 2d; Waihi Grand Junction, .3s 7d; 3s Bd. Christchurch. —Govt, bonds, 5i p.c., 1937, £99; Commercial Bank of Australia 16s; Bank of New Zealand, cum div. (2), £2 7s lOd; Goldsbrough Mort (5) £1 2s; Mount Lyell, cum div. (4), £1; Tooth’s Brewery, £1 Os 2d; Waihi (3). 16s 3d. Sales reported : Inscr 1 . Stock, 5i p.c., 1936, £9B 10s. Dunedin.—Sales reported; Govt. Bonds, 5i p.c., 1937, £9B 10s; Commercial Bank of Aust., 16s Id; Dalgety and Co., £7 17s. SYDNEY PRODUCE PRICES. SYDNEY, Dec. 3. Wheat, ex trucks, Sydney, 9s 2d; at country stations, 2s 7d per bushel. Flour, £ll 5s a ton. Pollard, £5 a ton. Bran, £4 10s a ton. Potatoes, new local, to £10; Tasmanian, old, £7 a ton. Onions, Victorian Globes, to £ll a ton. Oats, Tasmanian white and Algerian, 2s 6d a bushel. i EGGS AND POULTRY. WELLINGTON MARKETS. (By Telegraph—Special to Standard.) WELLINGTON, Dec, 4. Poultry and eggs sales are maintained in fair volume at last week’s rates, first grade hen eggs are Is Id a dozen, seconds Is, ducks’ Is Id. Fresh poultry: Whites 6s per pair down to 3s, according to size; Black Orpingtons, 9s to 12s per pair. Some small chickens are also available ; cool store supplies are practically oil the market.

Dec. 2. Par. .New York, dol. to £1 ... 3.39i 4.866 Montreal, dol. to £1 3.915 4.866 PariB, francs to £1 86.875 124.21 Brussels, bel. to £1 24.375 35.00 Geneva, franca to £1 17 7-16 25.225 Amsterdam, florins *to £1 8 13-32 12.107 Milan, lire to £1 66 92.46 Berlin, marks to £1 14.25 20.43 Stockholm, knr. to £1 ... 18 18.159 Copenhagen, knr. to £1 ... Oslo, knr to £1 18 18.125 18.159 18.159 Vienna, schgs. to £1 *29 34.585 Prague, knr to £1 *115 ' 164.25 Hel’fors, marks to £1 *194 193.23 Madrid, pes. to £1 40.875 25.225 Lisbon, esc. to £1 109.875 4.50 Athena, drach. to £1 270 375 Bucharest, lei to £1 575 813.6 Rio de J., p. to mil. ... 4i 16.70 B. Aires, p. to peso 40} 47.52 M. Video, p. to peso 3U 51 Calcutta, p. to rup 18 3-32 18 Shanghai, p. to tael 22 1 — Hong-Kong, p. to dol. ... 16 3-16 — Yokohama, p>. to yen ... 35.00 24.582 •Sellers.

change yesterday were as follow: Buyers Spilers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4£ p.c. bonds, 1939 and 1938 96 0 0 — 5£ p.c. ditto, 1937 5j p.c. ditto and Insc. 93 10 0 — Stk., 1937 98 10 0 99 0 0 44 p.c. Ins. Stk.. 1939 96 0 0 — 44 p.c. ditto, 1938 96 0 0 97 10 0 64 p.c. 'ditto, 1937 Rural Advances, 5 p.c., 93 5 0 1947 85 10 0 Public Trustee, 5 p.c., 1935 — 97 0 0 DEBENTURES— 0 Well. Racing Club .. — 100 10 Well. Amal. Brick .... 65 0 0 • N.Z. Breweries bonds Napier Boro., 5 p.o., 1 1 3 1 1 9 0 1944 88 0 Petone-L. Hutt Gas, 5i p.c., 1952 BANKS- — 96 10 0 8 17 6 9 4 6 Commercial of Aust.,'" ord 0 15 9 — Now South Wales ... 25 15 0 — Now Zealand Union of Australia ... 7 18 6 *2 7 9 FINANCIAL— Goldsbrough, Mort ... 1 2 2 1 2 11 N.Z. Guar. Corp., ord. N.Z. Invest., Mtg. and 0 6 4 Deposit N.Z. Loan and Merc., — 0 10 0 ord 45 0 0 — Well. Invest., T. & A. — 0 10 0 Well. Trust and Loan 6 0 0 — Well. JJep. and Mtg. GAS- — 0 10 6 Wellington, ord INSURANCE— 1 6 0 .New Zealand 1 19 9 — South British 2 13 9 —

MEAT PRESERVING— Gear COAL— 1 5 0 - Westport „ 1 5 9 Pukemiro BREWERIES— 1 10 0 New Zealand — *1 9 9 Carlton 1 1 6 Tooth and Co M1SCELLANK0 US— 0 19 7 — British Tobacco, ord. *1 4 3 — Burns, Philp and Co. Colonial Sugar 1 10 6 — 36 10 0 37 10 0 Dental and Medical . 0 4 6 — Dominion Investments 1 1 6 — Electro. Zinc, pref. ... 0 19 3 1 1 0 N.Z. Paper Mills Wilson’s Cement 0 17 6 — — 1 15 9 MININ U— . Mount Lvell 0 19 6 *1 1 0 Waihi 0 16 0 — Waihi Grand Junction 0 3 6 — King Solomon 0 1 5 — Okarito 0 10 2 0 10 3 Alexander (13s 6d pd.) — 0 10 0 ‘Cum. dividend.