LONDON WOOL SALES.

New Zealand Herald, Volume LXVI, Issue 20156, 17 January 1929, Page 9

LONDON WOOL SALES.

PRICES REMAIN STEADY. DEMAND FOR CROSSBREDS. Australian and N.Z. Press Association. LONDON, Jan. 15

Offerings at. the wool sales totalled 7427 bales, of which 6153 were Australian and 1022 New Zealand. 'l'hero was a good attendance from all quarters, and the selection was a capital one of Continental style and finer Merinos. There was a small supply of sorts suitable for the Yorkshire trade. Prices were steady. Merinos generally were unchanged. Crossbreds evoked keen Continental competition at prices slightly in sellers' favour. There were some withdrawals of shabby, second-hand lots owing to high limits. REPORTS FROM BROKERS. AN LM ATE D COMPETITION. The Bank of New Zealand has received the following advico from, its London office dated January 15:—The wool sales have opened with strong competition and a large attendance of buyers. There is a good demand for all classes of crossbreds. Compared with closing sales of the last series, Merinos are unchanged, fine crossbred a penny higher, medium and coarse a halfpenny to a penny higher. Dalgety and Company, Limited, has received the following cablegram from its London house dated January 15:—'I'ho London wool sales have opened with animated competition. The attendance of buyors is large and the selection is fair. As compared with closing rates of last series:—Merino, unchanged; ha If bred, par to 5 per cent, higher; crossbred, fine, par to 5 per cent, higher; crossbred, medium and coarse, firm at unchanged prices.

The Now Zealand Loan and Mercantile Agency Company, Limited, lias received the following cable from its London house: —There was a full attendance at the opening of the wool sales. Competition by Home and Continental buyers was good, and prices as compared with the close of the preceding series ruled- par to 5 per cent, higher for crossbred wool. The market is firm for Merino. The opening catalogues were fairly representative. NEW ZEALAND SHEEP. PROBLEMS OF BREEDERS. 1 Australian Press Association—United Service. LONDON, Jan. 15. The High Commissioner for New Zealand, Sir James Parr, spent the day in Bradford where be addrssed 400 members of the Bradford Textile Society. He replied to criticisms of New Zealand's breeding methods, and described (ho efforts of the Department of Agriculture to improve them. Sir James concluded bv saying that the problem facing New Zealand sheep men is not with what they may replace the Romney, which is the best for meat, lmt what methods of breeding should be carried out to eliminate hair fibre. He eulogised the great work done by the Wool Research Institute. Mr. William Hunter advocated the introduction of Lincolns, which he believed would result in 25.000 to 50,000 more bales, for which a better "market would be obtained. Professor Barker said the textile department of Leeds University was carrying out. experiments in Romney wools, by which they hoped to get rid of defects. THE LONDON MARKETS. FOREIGN EXCHANGES. (Received January 1(5, 5.5 p.m.) British Wireless. RUGBY, Jan. 15. The following rates on foreign exchanges are current to-day, compared with the cabled quotations on January 10 and par Jan. 15. Jan. 10. Par. Montreal, dol. . . 4.801 4.801 4.800 New York, dol. . 4.85 1-tG 4.£51 4.8G8 Paris, tr. . .. 1it.15 124.10 l-J-t.'2l Brussels, belga . . 39.90 34.095 35.00 Geneva, fr. . . . 25.'21 25.20} 25.22 Amsterdam, fl. . 12.0 ft 12.082 12.10 Rome, lire . . . 92.70 92.705 92.40 Berlin, r.m. . . 20.41 20.40 20.4:? Stockholm, kr. . . 18.14 18.13J 18.159 Oslo, kr 18.15 18.195 18.159 Copenhagen, kr. . 18.is 18.185 18.159 Vienna, sell. . . 31.50 34.475 34.585 Prasue, kr. . . IG3J 103J 24.02 THelsiiiKfors, mark 192, 1 192, 192.23 Madrid, nes. . . 29.70 29.72 25.22'; Lisbon, esfu. . . lOtrs 10 109 Allien*, dr. . . 375 37: i 375.00 Bucharest, lei. . . 807', 80, t 23.221 Rio de Janeiro, mil. 5 29-32 5 29-32 Buenos Aires, dot. 47* 4,2 1,.5 id Calcutta, rupee . . 1-32 18 1-32 18d Shanghai, tncl . . 31 i 31', TTonckonc. dollar . 24J 24! Yokohama. yen .. 22 15-32 22 9-10 -Lsßd Batuvia. fl. .. 12.15 12.091 12.10 WHEAT. Auslralin n Press Association —United Service. (Received January 10. 5.5 p.m.) LONDON, Jan. 15*. Wheat.—Demand for cargoes is more inactive at 3d easier. Parcels are receiving poor attention at a similar decline. "By the Orama. 46s 6d. Liverpool futures: March, Os 218 d per cental; May, 9s 3^l; July, 9s 5-jd. DAIRY FACTORIES* OUTPUT. WARKWORTH ' AND MATAKANA. [BV TELEGRAPH- —OWN COIUtERVO.VDENT.] WHANGAJREI. Wednesday. The output of the Rodney Co-operative Dairy Company's factory at Warkworth for December was 25 tons, against 23 lons for the same, month year. The distribution to be made on \J all nary 20 will amount, to £3194, compared with £2578 for the same date last year. '1 ho rate of payment is Is 4-jd, compared with Is 2J,d last year. The total payout for (lie present season to dale amounts to £12,592, against £10.136 for the corresponding period of 1927-28. During December the Malakana factory manufactured 44 tons, making the season's output 170 tons, against 36 and 163 tons respectively last year.

CHICAGO WHEAT MARKET. Australian ai.d .X.Z. Press Association. CHICAGO. .Tan. 15. Wheat..—March, 1 dollar 18 5-8 cents per luishel: Alay, 1 dollar 22 cents; July, 1 dollar 23 .3-3 cents. SOUTHERN EXCHANGES. [RV TKLEfiRAVH. IUtJ&S ' ASSOCIATION.] W ELLING TO N, Wed nesda y. The following sales were made on tin* Stock Exchange 10-dayßank of New South Wales, £SO 15s and £sl; Pukemiro! Collieries, 67s 6d; Leyland O'Brien Timber (four), 345; New Zealand Breweries (Bonds), 25s 9d ; Bank of New . Zealand, 625; New Zealand Guarantee Corporation, 8s 7d; Waihi Mining, 14s 7d. CirRISTCHURCII, Wednesday. The' following sales were made on Iho Stock Exchange- to-day;— Bank of Adelaide, £lO 2s 6d (two) ; National Bank of Australasia (£lO paid), £10; National Bank of New Zealand, £7 ss, £7 4s 6d; New Zealand Refrigerating (10s paid, cum di v.), 8 s 3d; Timaru Brewery (rights), 3s 9d; Australian Distilleries; 24s 6d (two), 24s 9d (three): Henry .Tones Co-operative, 37s Id; Holden's Motors, 30s 3d; Lyell, 41s 6d: Mahakipawa, Is 2d (six) ; West port Coal, 30s (two); Auckland Clas, 24s 6<l. DUNEDIN, Wednesday, I'llo following sale was made on the Stock Exchange to-day:—P. and 0. Deferred Stock, 60s.