WOOL SALES PRICES.

New Zealand Herald, Volume LXVIII, Issue 20993, 2 October 1931, Page 5

WOOL SALES PRICES.

COMPETITION IN LONDON. * VALUES FULLY MAINTAINED. LONDON, Sept. 30. At the wool sales to-day 10,285 bales were offered, including 5251 from New Zealand, and about 7300 were sold. There was active competition by the home trade and Continental buyers. Prices were fully maintained. The Zealand clip S.U.M. made top price, 16.1 d, average .15|d; slipes, Pareora, and B^d. The Bank of New Zealand has received the following advice from its London office, dated September 29: —Compared with the opening of the current series of wool sales greasy crossbreds are now about 2d per lb. higher. Dalgety and Company, Limited, has received the following cablegram from its London house, dated September 30:—The wool sales continue active, but Merinos not quite highest point of series. Crossbreds are in strong demand, any change in price being in favour of sellers. GOOD DEMAND IN SYDNEY. PRICES FULLY MAINTAINED. (Received October 1, 8.25 p.m.) SYDNEY. Oct. 1. At the wool sales to-day 11,886 bales were offered and 10,867 sold. Also, 1857 bales were disposed of privately. There was a strong general demand for all descriptions and prices were equal to the best rates for the week. Greasy Merino made up to 16d, which is the highest price for the season. INTEREST NOT PAID. BIKURANGI COAL DEBENTURES. As trustee for the debenture-holders in the Hikurangi Coal Company, Ltd., the British and Dominion Investment Trust, Ltd., has notified holders that for the second time in succession the company will be unable to pay interest on its 10 per cent, debentures, due on September 30. With tho two defaults the Hikurangi Company is now approximately £3OOO in arrears with interest. A- section of debenture-holders is communicating with those debenture-holder» whose names appear in the books urging a meeting to discuss the interests of de-benture-holders. Many of the debentures, however, arts in the form of bearer bonds and the proprietors are thus 5 not registered and consequently have not been communicated with. The circular of the trustees, dated September 25, states that the general prospects of tho company are not unfavourable and unless holders of at least onetenth of the debentures of the company make a written request for a meeting, one will not be called at the present time. WELLINGTON GAS DEBENTURES. ISSUE LARGELY'OVERSUBSCRIBED. The recent issue of mortgage debenture stock by tho Wellington Gas Company, Limited, to replace £200.000 of 6£ per cent, stock maturing yesterday, has been largely oversubscribed. Letters of allotment are now being sent out to successful applicants. The new issue has a currency oi 10 years, and will bear interest at the rate of 6i per cent, or per cent, more than the rate on the issue expiring. DAIRY PRODUCE PRICES. NO CHANGE IN QUOTATIONS. Tho New Zealand Loan and Mercantile Agency Company, Limited, has received the following cablegram from its London house, dated September 30:—Butter, 120s to 122s a ewt. Cheese, 70s to 725. The market is quiet after the advance, LONDON TALLOW SALES. LONDON, Sept. 30. At the tallow sales " 546 casks were offered <>nd 145 sold, at an average advance of Is. Prices were: Mutton, fine 21s 9d, medium 18s 6d; beef, fine 23s 3d, medium 18s 6d. The Bank of New_ Zealand has received the following advice from its London office, dated Septerpber 3G:—Tallow: There is a fair demand. Current quotations are: Good mutton, 20s 6d to 21s a cwtj beef, 21s to 21s 6d; good mixed, to 21s 6d; gut, 15s 6d to 17s 6d. CHICAGO WHEAT MARKET. CHICAGO. Sept. 30. - December, 47* cents; March, 50 1-tf cents f May, 51§ cent*.