LONDON WOOL SALES.

New Zealand Herald, Volume LXV, Issue 19947, 16 May 1928, Page 9

LONDON WOOL SALES.

BETTER TONE REPORTED. NEW ZEALAND SALES. Australian and N.Z. Press Association. LONDON, May 14

At the London wool sales to-day 8221 bales were offered, of which 2720 ware New Zealand and 352 Australian, There was a good selection of greasy and scoured crossbreds. A better tone and good competition ruled. Greasy crossbreds were firmer. The following New Zealand clips sold: "Okare," top price 23d, average 20d; "Owetes," 21jd and 20d; "Numgatoi," 23J,d and 21d; "Waireka," 22d and 19Ad; "Bluff," 25Ad and 24d; "Kumumoana," and 30d (scoured).

Dalgety and Company, Limited, report having received tho following cablegram from their London house, dated May 14:—Tho wool sales continue with competition strong. The Continent are the principal operators, and English buyers aro operating moderately. As compared with the closing rates of the last series, greasy merino are Id to l£d lower; scoured merino, any chango is in favour of buyers; greasy halfbred, Id to l£d lower; greasy crossbred, fine, Id to ljd lower; super greasy crossbred medium, Id to l£d lower; greasy crossbred, other descriptions, unchanged; crossbred greasy bellies and pieces, j|d to Id lower; scoured crossbred, unchanged; crossbred slipes, fine, Id to lid lower; medium, Id to l£d lower; slipes, other descriptions, unchanged; greasv lambs, crossbred, Id to lid lower. The sales will close on May 22.- We will sell on May 18. TONSON GARLICK COMPANY. LOSS ON YEAR'S TRADING. REDUCTION OF CAPITAL. The 31st annual report of the Tonson Garlick Company, to be presented at the annual meeting of shareholders on May 30. states that in reviewing the past year's trading, it is necessary to take into consideration the trying and abnormal conditions which the company experienced. The removal to Karangahape Road, following the sale of the (jueen Street property, necessitated drastic reduction of stock, which was detrimental to profitmaking. The disastrous fire in the warehouse on February 6 last caused a further disorganisation and materially affected the earning power of the business. The result of the year's trading, after making provision for depreciation and bad debts, is a net loss of £2762, leaving a debit balance in the appropriation account of £IB2B. The latter has been met by the transfer of a similar amount from the reserve, which now stands at £11,436. Notwithstanding the loss, the report states, the company is in a very sound financial position and the directors recommend a payment of 4s a share in reduction of capital. This will reduce tho 40,000 £1 shares to 16s each.

The major items on , the balance-sheet include the following;— Liabilities: Paidup capital, £40,000; sundry creditors and bills pavable. £3466; general reserve account, £11,436. Assets: Freehold and leasehold land and buildings, £12,213; factory, plant and fixtures, £2844; stocks, £17,766 ; sundry debtors and bill J receivable, less reserve for bad debts, £13,717; National Bank of New Zealand,. £5,380; total assets, £54,902. The retiring directors are Professor H. W. Segar and Mr. W. M. Commons, who offer themselves for re-election. , A dividend of 8 per cent was declared in 1921, but was not paid. Subsequently no dividends were declared until last year, when, in spite of a loss of £2162 on the year's trading, a dividend of 8 per cent, was declared, the sum of £3200 having been distributed last June. WESTERN CANADA'S WHEAT. CROP OUTLOOK VERY BRIGHT. (Received May 15, 8.55 p.m.) United Service. VANCOUVER, May 15. A bulletin issued by the Provincial Government of Manitoba says Western Canada's 1928 grain crop has been given a start which is regarded as most favourable with the appreciable increase in acreage sown. Altogether the outlook is the brightest for 10 years. MARKET REPORTS. FRUIT-AND PRODUCE PRICES. High prices for bananas and the advance in the price of hothouse grapes were again the main features of the fruit sales at the Auckland City Markets yesterday. The field produce market was well supplied in all lines and was glutted with celery, over 1000 v bundles being sold by one market in a day. There was also an over-supply of inferior pumpkins. Eggs were still inclined to rise, while butter remained at the usual price. Apples remained at very much the same value as last week, except that there was an increase of about Is 3d a case in the price of Granny Smiths. Pears were in good demand, there being a rise of 6d per case in the price of Nelis and Coles and cf Is per case for P. Barrys. Local hothouse tomatoes reappeared on the market, selling at from 4d to 6d per lb. Choice hothouse grapes were 3d per lb dearer than last week and Sydney Whites advanced by 2s a case; no Sydney Blacks were offered. There was also an increase of 2s a case in the price of passion fruit. Tree tomatoes appeared on the market at from 3s to 6s a box. Repacked bananas were still at a very high price. Mushrooms sold at only half the price they brought last week. Oranges and lemons remained at a steady price. Fiji mandarins and oranges reappeared on the market. In the field produce market, onions obtained Is less than last week. There was a heavy supply of kumaras, which_hrought 6d less than last Friday. The price- received for swedes was also 6d less. Green peas were not on sale owing to the lateness of the season, but it is expected some will be offered at auction on Friday. The demand for lettuce improved, 6d to 2s a case more than last week being obtained. Hen eggs advanced in price by Id to 2d a dozen, but there was a small decrease in the value of duck eggs. The following prices were realised FRUIT. Apples. Deicious, 4s to 7s 6d a. case; Jonathan, 4s to Ss; Munroes, 3a to ss; Ballarats, 5s to 6s Gd; Spya, 4s to 6a 6d; Granny Smiths. 7s to 9s; Pigeonette, 7s to 9s. Pears, Nelis and Coles, 9a to lis a case; P. Barrys, 6s to 7s; Clairgeau, 7s to 8b; Capiamont, 6s to 75.; KoiSers, 5s to 6d 6d. Tomatoes, local choice, 5s to 8s a caso; second grade, 2s to 4s; Hutt, 3s 6d to 6s; local hothouse, 4d to fid per ib. Grapes, hothouse, choice, Colmans, Is 9d to 2s 4d per lb: second grade. Is 3d to la 6d; Sydney "Whites, 19s to 20s a case. Passion fruit, 8s to 15s a case, according to quality. Persimmons, 3s to 6s a box. Tree tomatoes, 3s to 6s. Lemons, local. 8s to lGs a case. Bananns, repacked, 30s to 36s a ease. Oranges, Island, 21s to 25a a case; Fiji, large cases, 30s to 325; American Valencias, 47s to 48s. Mandarins. Fiji, 14s a case. Mushrooms, 3d to 6d per lb. FIELD PRODUCE. Potatoes, Southern, 7s to 8s per cwt: onions, 7s to' 10s; kuiraras. 4s 6d to 6s 6d a bag; cabbage, 4s to 12s a sack • on benches. 3s to 8s a dozen; cauliflower. 4s to 13s 6d a sack; on benches, 3d to Is 3d each: swedes, 2s to 3s 6d a bag; pumpkins, 4s to Us per cwt; on benches, 3d to Is each: beans, 6s to 12s a bag; lettuce, 6d to 3a a case: cucumbers. Is to 4s a dozen; in arrows. 2s 6d to 6s 6d; water melons, 3d to Gd each; celery. 3d to Is 6d a bundle: rhubarb, Is 6d to 2s Gd a dozen: spinach, M to Is 2d; soring onions, 3d to Gd a bundle; radishes, Pd to 8d a dozen bundles: carrots, parsnips, beet and turnips, fid to Is; .citron melons. 2s »id to 4s a sack: leeks. 6d to Od a bundle. DAIRY PRODUCE. Hen ecss. largo size, 8s Id. to. Sr. 2d a dozen; intermediate »i«>. 2s 9d to ~ a io £- pullet eggs, 2a Sd to 2a 6d:duck eggs, 5d to 2s 6d; smaller size, 2s id t< .5 33. Farmers' butter, la to 1» 3d per lb, j