AUSTRALIAN WOOL

New Zealand Herald, Volume LXXI, Issue 21937, 22 October 1934, Page 5

AUSTRALIAN WOOL

SYDNEY SALES REVIEWED VALUES SHOW MORE STABILITY SYDNEY, Oct. -20 The Sydney Morning Herald's wool letter says that improved stability in wool values and more general acceptance by growers of ruling prices were shown by the sale at auction of 89 per cent of the offerings at this week's Sydney sales. Prices generally were firm. While there is no reason for elation regarding ruling prices, some degree of satisfaction must bo expressed respecting tho more active general buying compared with earlier in the season, and tho fact that values moved slightly upward compared with September. A rise of 25 to 30 per cent in values, however, will bo necessary to bring returns on to a reasonably satisfactory level for Australian growers. ( i THE WORLD'S SUPPLY INCREASE LIKELY THIS YEAR Tho hope that moderate values for wool will stimulate tho demand this season and that good clearances will be made is expressed in the quarterly review of the Australian Estates and Mortgage Company, Limited, London. The review states that from provisional estimates the wool exporting countries of the Southern Hemisphere produced about 1,961,000,0001b. of greasy wool for the season 1933-34. That quantity is 9 per cent less than the output for 1932-33, when 2,157,000,0001b. wero produced, and is lower than for nnv year since 1927. The review adds: "It is too early to make an accurate ostimato of the 193435 clips, but there aro indications that Australian and Now Zealand production may be some 150,000 bales greater than last season, which may be partly offset by £1 further fall of perhaps 75,000 bales in South Africa's contribution. Argentine and Uruguayan estimates are not yot available, but some authorities consider that no appreciable Change in production is likely, Thus the chief exporting countries may produce somewhere in tho region of 2^40,000, 0001b. of greaNy this season; say, a 4 per cent increase ovor last season. Tho heavy carry-overs of last season will increase tho wool supplies available this season by approximately 4 per cent additional." SYDNEY STOCK EXCHANGE SATURDAY'S BUSINESS SYDNEY. Oct. 20 Sales on tho Sydney Stock Exchango to-day included the" following:—Commonwealth 4 per cent bonds: 1938, £lO6 15s; 1941, £lO7 12s 6d; 1944, £lO7 10s; 1947, £lO9 ss; 1953, £lll ss; 1955, £112; 1959, £llO 15s; 1961, £lll 12 s 6d. Commercial Bank of Sydney, £lB 2s; Bank of New South Wales, £33 2s 6dj Huddart-Parker, 375; Australian Gas, A shares, £8 3s; Anthony Hordern, 16s 3d; Associated News, 25s 4Jd; ditto, preference (ex dividend), 24s 9d; Australian Glass, 525; British Tobacco, 42s 3d; Burns-Phil p, 57s 6d; Colonial Sugar, £74 10s; Fairvinead Sugar, 41s 9d; Lustre Hosiery, 25s 3d. NEW MINING COMPANY REGISTRATION IN WELLINGTON Registration of the following public company is notified in tho Mercantile Gazette: New Zealand Goldfields Prospecting Company, Limited, Wellington.—Capital: £SOOO in 5000 sharos of £1 each. Subscribers: Wellington—W. G. Morpeth, 50 shares; A. P. Harper, 15; A. Coutts, 150; B. R. Bliss, 15; S. Blackley, 250; W. L. Moore, 15; W. H. Carlyle, 125.

COMPANIES'- WINDING-UP Molynoaux Electric Gold Dredging Company, Limited, Dunedin. W. A. Mitson, Dunedin, public accountant, liquidator. Portobello Gold (no liability). G. W. Reid, Dunedin, public accountant, liquidator.. AMALGAMATED WIRELESS RECORD NET PROFIT Amalgamated Wireless (Australasia), Limited, reports a not profit of £137,934 for the year ended Juno 30, compared with £82,171 earned in 1932I 33. The profit is considerably more than in any previous year, but tho directors state that part of the increase over previous periods should be regarded as non-recurring. Tho dividend for the year is 10 per cent, a rise of 2 per cent, and requires £74,428. To general reserve £30,000 is transferred and tho carry-forward is £41,562, against £8056 brought into the accounts. The gross profit was £562,401, an increase of £86,387. The company has a paid capital of £744,282. GOLD AND SILVER QUOTATIONS IN LONDON (Received October 21. 5.5 p.m.) LONDON, Oct. 20 Fine gold is quoted to-day at £7 la OJd an ounce, compared with £7 Is 8d yestorday and £7 2s Id on Thursday. Silver is quoted at 23 15-16 d an ounce spot and '24 1-16 d forward,* compared with 23 Jd and 23Jd on Thursday. The quotation for silver at per fine ounce is 25 13-16 d, compared with 25gd on Thursday. PRICES OF METALS COPPER A LITTLE FIRMER (Received October 21, 5.5 p.m.) LONDON, Oct. 20 Following were yesterday's quotations on tho London metal market, compared with those of October 18: Oct. 19 Oct. 18 Per ton Per ton £sd £ s d Copper, stan., spot . , 20 11 10} 20 1 10} Copper, atun., 3 mos. 20 18 lj 20 8 1J "Copper, electrolytic 29 0 0 28 10 0 10 to 30 0 0 29 10 0 Copper, clec., wire bars 30 0 0 20 10 0 Lend, soft, spot . . 10 2 0 10 2 6 Lend, soft, forward .. 10 7 0 'lO 7 6 Spflter, npot .. .. 12 3 9 12 0 0 Spelter, forward .. 12 5 0 12 3 0 Tin, stan., spot ..230 18 9 230 13 9 Tin, stan., 3 mos .. 229 0 3 229 5 0 * American 9 cents a lb. Quotations for other metals, with lost week's prices in parentheses, aro: —Pip; iron: Home trade, £3 7s 6d (£3 7s 6d); export, £3 2s 6d (£3 2s 6d). Antimony: British, £49 10s (£46 10s); foreign, £36 5s (£3B 12s 6d). Molybdenite, £1 14s 6d (£1 14s 6d) a unit. Wolfram, £2 Is 9d (£2 Is 6d) a unit. VICTORIA NYANZA SUGAR [BY TKLEGBAPH PRESS ASSOCIATION] WELLINGTON, Sunday The Victoria Nyanza Sugar Company, Limited, has advised the Stock Exchange Association that a cablegram received from tho plantations states that 25.684 tons of cane were crushed to September 30. The sugar manufactured was 1970 tons, and process, 52 tons.' The mill has been closed for repairs.