LONDON WOOL SALES.

New Zealand Herald, Volume LXVI, Issue 20255, 15 May 1929, Page 11

LONDON WOOL SALES.

FAIR COMPETITION RULES. BRADFORD VERY DEPRESSED, Australian and N.Z. Press Association. LONDON, May 13. At the London wool sales to-day 7792 bales were offered, of which 4389 "were New Zealand. There was a small offering of Merinos and an average selection of greasy crossbreds. Fair competition ruled and there were some withdrawals. Now Zealand clips sold as follows: "HL/W," 16J,d to 15d; "Maku," 16£ d to 15d; "Pouparae," 15J,d to I4|d. The Bradford taps market is depressed. Stocks of Merinos and fine crossbreds are very heavy and holders desire to unload but nobody wants them. Low crossbreds are firm. THE IONDON MARKETS. QUOTATIONS FOR METALS. Australian and N.Z. Press Association. (Received May 14, 8.25 p.m.) LONDON, May 13. (Quotations on May 9 in parentheses.) Copper.—Spot, £73 2s 6d (£78); three months, £73 Is 3d (£75 2s 6d). Electrolytic Copper.—Spot, £B3 15s (£B4 10s); three months, £B4 15s (£BS). Wire Bars—£B4 15s (£BS). Lead.—Spot, £24 2s 6d (£24 3s 9d); three months, £24 (£24 Is 3d). Spelter.—Spot,. £26 15s (£26 13s 9d); three months, £26 15s (£26 15s).' Tin.—Spot, £199 2s 6d (£2OO 13s 9d); three months, £2Ol 18s l|d (£202 8s 9d). Silver.—Standard, 25 3-16 d . (25 5-16 d) per oz.; fine, 27 3-16 d (27 5-16 d). SHAG POINT COALMINES. RESOLUTION TO WIND UP. [iJY TELEGRAPH. —PRESS ASSOCIATION. ] DUN.EDIN, Tuesday. At an extraordinary general meeting of shareholders in the Shag Point Coalmining Company this evening a resolution was carried that the company bo voluntarily wound up. The meeting also decided that the directors be' recommended to make a further attempt to bring about a working agreement;, but it was pointed out that more capital would bo required before the mine could bo reopened.

ANTHONY HORDERN AND SONS

DIVIDEND OF 8 PER CENT. In their third annual report, the directors of Anthony Hordern and Sons, Limited, Sydney, state that a profit of £270,403 was earned during the year ended February 27 last, as compared with £267,713 for the preceding 12 months. After paying debenture interest of £70,000 there is, with £lOll brought forward, £201,415 available. From this sum the directors have written off the balance of formation expenses, amounting to £20,597; dividend of 7£ per cent, on preference shares accounts for £56,250 and 8 per cent, on ordinary shares £100,000; a sum of £20,0000 is transferred to reserve, making it £60,000, and £4567 is carried forward.

CHICAGO WHEAT MARKET. Australian and N.Z. Press Association. CHICAGO, May 13. Wheat.—May 1 dollar 4£ cents per bushel; July, 1 dollar 8 3-8 cents; September, 1 dollar 12 3-8 cents; December, 1 dollar 17 1-8 cents. AMERICAN RESERVE BANKS. Australian and N.Z. Press Association. (Received May 14, 5.5 p.m.) NEW YORK. May 13. The Minneapolis Reserve Bank lias raised its discount rato from to 5 per cent. This places all the Reserve Banks on the same level with the exception of the San Francisco Bank, which retains its rate at per cent. PACKING OF DATES. SYSTEM IN MESOPOTAMIA. At a recent inquiry by the Melbourne Tariff Board into an application for an increased duty on dates in order to still further protect Australian dried fruits considerable publicity was given to a statement, regarding the conditions under which dates are packed in Mesopotamia. A summary of this evidence was cabled to London, and the reply, which was placed before the Tariff Board in a, combined statement by four leading Sydney importers, was as follows: "The evidence is absolutely false in every respect. We have cabled Basrah to get Irak authorities to point out to the Australian Government the danger of such damaging evidence doing irreparable damage to the Irak world date trade, and assuring them that for many years past Basrah dates have been packed under official supervision and everything done to ensure utmost cleanliness." These witnesses also tendered an official health certificate in respect to dates exported from Basrah, certifying that they were packed under the supervision of the health authorities according to the rules for date packing of the Public Health Directorate of Irak.

TARANAKI OILFIELDS. [BY TELEGRAM!. —PRESS ASSOCIATION.] GISBORNE, Tuesday. Taranaki Oilfields, Limited, report:— Gisborne No. 2 Well; Drilled to 3030 ft., last 6ft. in sandy limestone; progress delayed by cavings in well; struck heavy flow of salty water at 3025 ft.; 6|in. diameter casing to 3018 ft. SOUTHERN EXCHANGES. [BY TELEGRAPH. —PRESS ASSOCIATION.] WELLINGTON, Tuesday. The following sales were made on the Stock Exchange to-day:—Wellington Woollen (ordinary), £7 ss; New Zealand Government 4J, per cent, stock, 1938, £IOO (two); Union Bank, £ls 9s 6d; British Tobacco, 48s 4d; Electrolytic Zinc (preference), 375. DUNEDIN, Tuesday. The following sales were made on the Stock Exchange to-day: Wright, Stephenson (ord.), 25s 6s (two); Now Zealand Breweries (shares), 645; National Bank of Australasia (paid), £l9 16s (cum cliv.); Union Bank, £ls 10s; Auckland Gas. 24s sd. New Zealand Government, 44 per cent. Inscribed Stock, 1938, £99 17s 6d, CHRISTCHURCH, Tuesday. The following sales were made on the Stock Exchange to-day New Zealand Govornment, per cent. Inscribed Stock, 1938, £IOO (two), Commercial Bank of Australia, 30s Id (six); English, Scottish and Australian Bank, £8 lis 6d; National Mortgage, 85s 6d, 85s 9d; Now Zealand Breweries. 63s 9d (two); Staples' Brewery, 46s 6d, 46s 9d; British Tobacco, 48s 6d; Dunlop Rubber, 27s 9d (three); Electrolytic Zinc, (pref.), 365; Mahakipawa, is (two).