COMMERCIAL

Northern Advocate, 6 February 1934, Page 12

COMMERCIAL

SYDNEY WOOL SALES. j DEMAND FOR CROSSBREDS. i; I ! RATES MAINTAINED. j SYDNEY, February 5. | Tlio Sydney wool, sales were resumed tulay, when 11,001 bales were offered ( nd'oolo were sold. Also .1588 bales ( -ore sold privately. Compared with the closing rates at he January auctions, the market genrally was unchanged. Best doserlpioris of fleece were irregular, but kirtings ruled very firm. Comebacks ,nd crossbreds met with strong demand. Competition was pineipally from the 'outinehtal and Japanese sections, nth limited support from Yorkshire. Creasy merino sold to 2Sd for 12 ’ale. l from Uralla. THE WORLD MARKETS. ' v;V London prices advanced. \ • ; .\ • ■ LONDON, February -I. The London representative of the Australian ‘Wool-growers ’ Council, Air V. P. Deveretix, reports that easier j ;endeneies have 1 , developed in most of .he wool markets.. This is partly the result of profit-taking, financial strain, mrly overseas purchases, and currency i mcertainties. The. trade position is sound. Bradford quotations for merino tops ire somewhat/ irregular in • tendency, with, very little new business. Crossbred yarns are very quiet, and prices fire a. shade easier. The Continental futures markets are quiet, currency fluctuations being the disturbing factor. The London sales closed steady ,qjt recent levels. Quotations were dearer, compared with December closing- rates as follows:—Merino, greasy, super, 10 per cent; other fleece wools, 74 per cent; pieces, .15 per cent; seoureds, 10 to 15 per cent; crossbreds, fine, 15 per cent; medium, 74 per cent; coarse, 5 per cent: slipos, 15 per cent to 20 per cent. MINING- NEWS. COMPANIES’ RETURN. _i_ The following production returns are to hand from the undernotod companies:— Bell-Hooper (Cromwell). —For week ended February 2,340 z. Sdwts. Okarito (South Westland). —Last week, 41 oz. 1 Sdwts. for 1124 hours’ dredging. Gillespie’s Beach (South Westland). —Last week, 38oz. 2dwts. for 100 hours’ dredging. Talisman Dubbo Goldmines, Ltd. (Karangahake) had 22 2-3 tons of ore treated at the Golden Dawn battery for a return of £233 actual realisation. MANAGER’S REPORT, Golcouda (Thames). —Wo have started a rise on the new reef south of the east crosscut. The reef formation is composed of quartz stringers and pug. A few colours of gold, were seen in the stringers. On. the 70ft. level we continued driving west on the hanging-wall reef. The reef is a strong body of ore carrying nice minerals, but no gold has yet been seen. It is indiverglng portions. We are following the hanging-wall portion, and the country rock is improving. The country has been very disturbed on account of the break. .We are putting up a rise on this reef to connect with the intermediate level which should be completed in about two weeks. Sloping was continued on .the branch reef south-, and a few nice dabs of gold wore seen. AUSTRALIAN EXCHANGES. YESTERDAY’S BUSINESS. iSY r DNEYA February 5. On the Sydney Stock Exchange today, business was moderate, and price movements showed only slight variations compared with last week’s. Gold shares, however, were active and firmer. Morning sales included: Commonwealth 4 per cent bonds, 1038, £105; 1053, £107; 1961, £IOB 5/. Bank of N.S.W., £33; Tooth’s Brewery, 44/6; Associated Nows, 21/3; British Tobacco, 37/4-J; Dunlop Perdreau, 20/.10J; Electro Zinc, 27/; Howard Smith, 15/6; Lustre Hosiery, 23/; YVilcox Mofflin, 13/5; Winchcombe Carson, 32/. Afternoon sales included: Bank of N.S.W., £33; Commercial, Bank of Sydney, £18; Union Bank, £lO 5/; Bank of Australasia, £.13 15/; Colonial Sugar, £64 .10/; Mercantile Mutual Insurance, 23/3; Australian Provincial. Assurance, 11/5; Howard Smith, 15/7; Huddart Parker, Now Zealand delivery, 34/3 ; British Tobacco, 37/4 i ; Tooth’s Brewery, 44/3; Toohey’s Brewery, 28/3; ditto, Now Zealand delivery, 2S/-1J; Dunlop Perdreau, 20/0; ditto, preference, 36/6; Henry Jones, 33/6; YVilcox Mofflin, 13/6; Commonwealth YVool, 22/; John McGrath, 28/3; Hume Pipe, 13/1.1; Anthony Hordern, .16/; Standard Cement, 18/6; Electro Zinc, 27/3; Lustre Hosiery, 23/; Mount Morgan, 75/; South Broken Hill, 72/0; G. J. Coles, 42/6. Melbourne sales included: Adelaide Steam, 26/; Gordon and Goteh, 42/; Howard Smith, 15/9; Herald and Weekly Times, 51/6; Mount Lyell, 25/.

QUOTATION FOR SILVER. (British Official Wireless.) RUGBY, February. 8. ■Silver is quoted today at 19 15-Kid an ounce spot and forward, compared with .19 7-16 d yesterday. DAIRY PRODUCE. MERCHANTS ’ CABLES. (Special to "Northfl'm Advocate.”) AUCKLAND, This Day. Messrs Joseph Nathan and Co:, Ltd., has received the following cablegram from its London office, dated February 3:—Butter, .68/; choose, white, 48/ to 44/; coloured, 45/ to 46/. Both markets are firm. BRITISH WAR LOAN. (British Official Wireless.) RUGBY, February 8. War Loan, 3£ per cent, is quoted to- ’ day at £lOl 12/G, same as on February 1.