AUSTRALIA'S WOOL

New Zealand Herald, Volume LXXII, Issue 22200, 29 August 1935, Page 7

AUSTRALIA'S WOOL

OPTIMISTIC OUTLOOK HIGHER VALUES PREDICTED FIVE YEARS' PRODUCTION (Received August 28, C.45 p.m.) SYDNEY, Aug. 28 In an address at the annual meeting of shareholders of Winchcoinbe-Cnr.son, Limited, to-day, the chairman, Mr. Harold Hell, predicted that the values of wool at the "'opening of the new selling season on Monday would-be 20 per cent above those of last season m September and possibly higher. This was attributable to the reduced clip and the increased demand for supplies. Mr. Bell stated that last year's^sales opened .with a carry-over of 250,000 bales and an increased clip. The position this year >vas almost reversed. He believed that in years to come Australia would grow a clip of 4,000,000 bales ol wool. in the past five years the production of wool in Australia totalled 15,298,5/0 bales, which realised approximately £200,000,000 in Australian currency. GERMANY AS BUYER TRADING PLAN NEEDED If trading arrangements can be made to assist Germany to finance purchasing, a good volume of orders for wool will be experienced from that quarter, states a review issued by Winchcombe, Carson, Limited, Sydney. In spite of the production of artificial fibres, German millmen want Australian wool. Indirectly, in. the form of treated Ivool, tops, and yarns, they have been obtaining fair supplies. Imports of tops in the first five - months of this year were 42 per cent more than in 1934. In addition, they have secured bulky weights of raw material in South America and South Africa. From Jannary to May, the imports of raw wool she retained totalled 483,000 bales, being only 23 per cent less than a year before. But her purchases in Australia were very small, compared with preceding years. Though licr buying of semi-manufactures and wool is valuable, its effects are not as influential as direct buying in competition with other countries. Similar circumstances exist with Italy. In 1933-34, when wool values were on high levels and the season's Commonwealth Bales averaged 16.2 d per lb. in Australian currency, both those countries bought with freedon in Australia during the bulk of the selling year. Last year's prices were not profitable for growers. That fact applied particularly to the shorter fine fleece wools suited to Continental requirements, and is one reason why an improvement in the volume of European buying is so important. The top figure secured for superfine Merino fleece in Sydney was only 24id per lb., the lowest level for many years. SALE AT DUNEDIN OFFERING OF 2500 BALES [by telegraph —own correspondent] DUNEDIN, Wednesday

A small offering of about 2500 bales is catalogued for the supplementary wool sale to be held on Friday afternoon. The wool to he offered is mostly oddments with a fair percentage of crutchings aiifl odd lines of good types of fleeces. Expectation is that the sale will be a good one for crutchings. Fleece wool has shown a firming in values since the last sale in Dunedin in April, but the prices obtainable will probably fa'll below those expected by farmers. GOLD STILL FALLING QUOTATION IN LONDON SILVER PRICE UNALTERED (Received August 28, 7.45 p.m.) LONDON, Aug. 27 Fine gold is quoted to-day at £6 19s 9>d an 0z.,. compared with £6 19s 10id yesterday. The quotation for silver at per tine oz. is 31 5-16 d., same as yesterday. NEW PRIVATE COMPANIES AUCKLAND REGISTRATIONS The following private companies have been registered in Auckland: Jackson Properties, [Limited, propertv agents, etc. —Capital, £IOOO, in shares ot cnch. Subscrib6is. «J. Jackson, 750 shares; G. S. Jackson, 250. y * * f i Krfiretu Timber Company, Limited, sawmillers, etc. —Capital, £IOOO, m shares of £1 each. Subscribers: H. .Nelson, 997 shares; A. M. Pennington, A. M. Thomas and A. J. Webster, one share each. CANADIAN WHEAT BIG LOSS THROUGH RUST OTTAWA, Aug. 27 " The prairie farmers will lose 100.000,000 dollars through wheat rust, states Mr. E. S. Archibald, director of the Canadian Government's experimental farms. " It is the worst ever experienced and will reduce the gram crop by 102,000,000 bushels." BUTTER MARKET FIRM NO CHANGE 'AT 96/Priccs for New Zealand butter on the London market are unchanged at 95s to 96s per cwt. The market is firm. Ihe cheese market is steady, with no change in prices. Merchants lire received the Jollowing cablegrams, dated August 27, fiom their London principals: — New Zealand Producers' Co-opera-tive Marketing Association, Limited.— Butter: New Zealand, 95s to 90s; Danish, 108s to 110s. The market is firm. Cheese: White, 49s 6d to 50s; coloured, 49s to 49s 6d. The market is steady. , _ A. H. Turnbull and Company, Limited, from W. Wcddcl and Company, Limited. —Butter: Danish, 108s; New Zealand, salted, '9ss 6d; Australian, 955. New Zealand cheese: White, 50s; coloured, 49s 6d. Both markets are steady. WHOLESALE EGG PRICES Wholesale prices of hen and duck eggs in Auckland are unchanged, as follows: —First grade. Is Old a dozen; B grade, Hid; C grade, 9Jd. HORSES SELL WELL [from our own correspondent] PUKEKOHE, Wednesday Competition was very keen at n horse sale held by Ihe New Zealand Loan and ftlercnntile Agcncv Company. Limited, nt Pukekohe to-dav. Quite n Rood entry of horses came forward, nnd an almost total clearance was made nt very satisfactory prices. No heavy draughts were offered. Active medium draughts made up to JEW; two-year-old unbroken horses, up to £SO; light unbroken horses, from £lO to £'2s; hacks,, up to i! 12..