WOOL SALES PRICES.

New Zealand Herald, Volume LXVII, Issue 20740, 6 December 1930, Page 9

WOOL SALES PRICES.

GOOD LONDON COMPETITION.

RECENT RATES MAINTAINED.}

LONDON. Dec 4 At the London wool sales 9432 bales were offered, of which 3062 were frcm New Zealand, and about 8325 were sold. There was a large offering of greasy Merinos, a good supply of scoureds, and a medium lot of crossbreds. -There was good general competition, and prices were unchanged. New Zealand scoured Merino. Duiistan Downs clip, made top price, 18d, average I7|d; greasy crossbred Candh clip. 7jd and 7d. BRADFORD TOPS. ' The market is quietly steady/ Sixtyfours are quoted at 2s per lb.: 60's, la !3id; 56's, Is 3^d, 60's, Is Id; 46's, j 40's, lOd.

THE LONDON MARKETS, PRICES FOR METALS. (Received December 6, 9.55 p.m.) LONDON. Dec. 4. (Quotations on December 1 in parentheses. i Copper.—Spot, £4B 18s 9d (£4B 18s lJd hree months, £4B 16s 18s lid). -< ; Electrolytic Copper.—Spot, £53 (£sl 10s); three months, £54 (£53). Wire Bars.—£s4 (£53). Lead.—Spot £ls 17s (id (£ls 17s 6d): three months, £l6 (£ls 18s 9d). Speltei;.—Spot, £l4 (£l4 18s 9d); three months, £l4 lis 3d (£l4 15s 7^d). Tin.—Spot, £ll2 17s 6d (£ll3 lis 10jd); three months. £ll4 3s 9d (£ll6 3s 9d). Silver.— Standard. 16d (16|d) per oz.; fine. 17id (IT 5-Bd>. WHEAT, FLOUR AND PULSE. Cargoes are dull and featureless. Parcels are irregular and attracting little attention. Manitobas are 3d easier. Futures London : December, 22s 9d per quarter; February, 235. Liverpool: December. 4s lOAd'per cental: March, 5s L|d; May, 5s 3 l-Bd. Spot trade fairly active. Australian, ex ship. 28s 6d to 295. Flour. —Quiet. Australian, ex store, 22s to 22s 6d. Oats, firmer; peas and beans, quiet; beet sugar, December, ss. TUNG OIL INDUSTRY. : ESTATE AT . PARENGA. PURCHASE OF 40,000 ACRES. [BY TELEGRAPH.—OWN CORRESPONDENT.] WELLINGTON, Friday. The purchase of 40,000 acres of land in North Auckland "at Parenga has been made on behalf of a company interested in the tung oil industry. The company intends to proceed with the planting of a considerable area shortly. Mr. H. R. Jenkins, of Auckland, who has taken an important part in the formation of the company, said the estate would be the biggest single area outside China utilised for.the tung oil industry. Jt is intended at first to plant some 25,000 acres, a considerable area being retained as farm land. Pome of the lajad unsuitable for tung oil trees will be used for afforestation. The company Dlans to erect its own crushing and refining plant on the estate, so that the production of tung oil from the growing, to the final process may Vie completed in New Zealand.

PROSPECTING FOR OIL. WORK .IN POVERTY BAY. ' Taranaki (N.Z.) Oil Fields reports for the week ended November 29, as follows: Waitangi. No. 1 Well.—Erection of drilling equipment completed. Plant and pipe line for water supply well advanced. SOUTH AFRICAN COLD. DIVIDEND OF 137J PER CENT.* v A dividend of 137Hper cent., which compares with the .high'record rate of 140 per cent, for 1928-29,$>vas paid by the New Modderfontein Gold 'Mining Company of South Africa for the year ended June 30, 1930. In each of the last five years the net profit of this remarkable company has exceeded £2,000,000, and in each of the past eight years the dividend has not been less than 100 per cent. The latest valuation of the ore reserves gives their total as 8,757,000 tons, having a value of B.3dwt., these figures compared with a year ago showing a decrease of 340,600 tons and an average value lower by o.3dwt.