WOOL SALES PRICES.

New Zealand Herald, Volume LXVIII, Issue 20987, 25 September 1931, Page 5

WOOL SALES PRICES.

HARDENING IN LONDON. INCREASE IN DEMAND. LONDON, Sept. 23. At the wool sales 9445 bales were offered, including 1169 from New Zealand. and about 8067 were sold. The home and Continental demand is hardening, and rates are now from par to 5 per cent, down, compared with the last closing rates. New Zealand,:—Slipes: Pukeuri made top price, average 7|d. Greasy Crossbred: Waiterenui, 7d and 6^d. Dalgety and Company, Limited, has received the following cablegram from its London house dated September 23: The wool sales continue active, with good competition and slightly more demand from the Continent. As compared with the closing rates of last scries, greasy Merino were par to 5 per cent, lower; greasy crossbred, par to 5 per cent, lower; good to super scoured Merino, 10 per cent, lower; ordinary scoured Merino. 15 per cent, lower; scoured Merino, inferior and faulty, no better than opening rates; scoured halfbred, demand poor; scoured crossbred, demand poor. ANIMATION IN SYDNEY. PRICES STILL RISING. (Received September 24, 11.15 p.m.) SYDNEY. Sept. 21. At the wool sales to-day 10,764 bales were offered and 10,220 were sold. Also, 512 bales were sold privately. There was a very animated market, with a hardening tendency in all the best lines. Fleece and skirtings showed a fjirther advance of 5 per "cent., making the total rise for the week 15 per cent. Yorkshire and France were the chief operators, with good support from Italy, and rather better inquiry from the German section. Japanese buyers were less prominent. Clearances were very complete. Greasy Merino made up to 13Jd. BUSINESS CONDITIONS. AUSTRALIA AND DOMINION. FIRM FAITH IN STABILITY. A firm faith in the stability of Australia and New Zealand is held by Mr. W. T. Cover, of Sydney, assistant manager of Nestle and Anglo-Swiss Condensed Milk Company (Australasia), Limited, who is visiting New Zealand in connection with a publicity campaign of Nestle's goods which is to be launched shortly. , Mr. Cover said there was no need to talk of depression in Australia and NewZealand. Many of the present-day troubles "would end if there were greater co-operation between employer and employee and a new initiative in work. New machinery should he provided for bringing about a better condition of affairs and people should realise, that contentment would come from a levelling-up process rather than a levelling down. Discussing conditions in the chocolate trade, Mr. Cover said sales were being maintained in Australia and New Zealand, due in a measure to the breaking down of the impression that they were luxuries. More lines were now being placed on the market which contained defmito nutritive value. The manufacturers were also watching more closely the public purse and there had been an increase in the varieties of tablet chocolate. Tablets sold more readily, as, they were cheaper and more adaptable. Referring to the new lines coming on the market Mr. (.'over said a special almond and honey tablet was now being manufactured by his firm. It was first thought of and perfected in Australia, where it had had wonderful sales. An aspect of its success was that it gave a new outlet for locally-produced honey. Mr. Cover said the Nestle Company had complete confidence in the Australian and New Zealand markets. It, had recently set on foot an*extensive advertising campaign in Australia with marked success. This was being followed with a campaign ' which would open in New Zealand next week The Nestle Company was now of a world-wide nature, Mr. Cover said. The company believed in local , manufacture and the" large factory at Abbotsford, Australia, and the excellently-equipped New Zealand factory in Auckland were examples of this. It was proposed shortly to open a factory in South Africa. SEARCH FOR OIL. PROGRESS AT GISBORNE. Taranaki Oil Fields report upon operations at Gisborue for the week ended September 19 as followsWaitangi No. 2: Drilling since last report has reached a depth of 1955tt. in grey shale.