STILL ADVANCING

New Zealand Herald, Volume LXXIV, Issue 22675, 12 March 1937, Page 7

STILL ADVANCING

BASE METAL PRICES SPOT TIN OVER £3OO ELECTROLYTIC COPPER AT £BO LONDON, March 10 Following are to-day's quotations on the London metal market, compared with those of March 9: — March 10 March O Per ton Per ton £ s d X' 8 d Copper, stan., spot 77 G 3 73 1 3 Copper, stan.. 3 mos. 74 lit 4 1 / a 7l 13 O Copper, electroytic . 79 0 0 77 0 0 to to 80 O 0 77 10 0 Copper, elect., wire bars . . 80 0 0 77 10 0 Lead, soft, spot . . 3fl 0 0 34 12 6 Lead, soft, forward 3.5 18 9 34 11 3 Spelter, spot .. 3fi 5 0 35 8 » Spelter, forward . . 36 5 O 35 12 0 Tin, stan., spot . . 301 5 0 276 15 0 Tin. stan., 3 mos. 290 10 0 275 17 0

POST-DEPRESSION RECORDS AUSTRALIA'S RICH HARVEST An exceptionally active market existed for all metal shares on the Australian and New Zealand Stock Exchanges yesterday, As one of the world's greatest producers of lead and zinc, as well as an important supplier of copper, Australia is reaping a rich harvest from the boom in metal prices and an important effect will be the building up of much-needed balances in London. Each advance means an addition to the profits of the producing companies and the prices of dependant shares are being taken almost daily from one peak to another. At £BO a ton electrolytic copper is rapidly on its way to a post-depression record, being only £4 5s a toi> below the 1930 peak of £B4 ss. In 1936 the hightvst price for standard spot copper was £49 8s a ton. To-day it is £77 6s 3d. The average price for the 1910-13 period was £63 13s for standard spot and £66 12s 9d for electrolytic. Tin, which has passed the £3OO mark, is now at its highest level since 1927 when the best price for standard spot was £319 12s 6d. The 1910-13 average price was £lB7. Both lead and zinc are at higher levels than any touched in the last 10 years and are substantially above the 1910-13 average, which was £ls 15s and £24 5s a ton, respectively. In 1936 the average price of lead was £l7 12s 6d a ton and that of zinc £ls 0s Bd.„

AMERICAN MARKETS COMMODITIES SOARING STOCK ALSO SHOW GAINS NEW YORK, March 10 The New York commodity markets have felt the tremendous impetus of world buying, either for peace time or for alleged munitions purposes. The new crop of wheat gained five cents a bushel in Chicago and Winnipeg today under the pressure of reported German buying. Rye also rose five cents and cotton increased one dollar a bale.

Crude rubber spurted 3 cent, reaching a new high level since early 1929. World sugar contracts and hides and silks soared. There were substantial gains, sugar making new high points. Copper, tin, lead and zinc, following the trend of the leading metal markets of the world, established new peaks. The stock market responded to the commodity situation and mining, railway, steel, petroleum and industrial shares gained three to six points. Call money is still quoted at 1 per cent. INQUIRY FOR LABOUR EFFECT ON SCHOOL ROLLS SITUATION AT HAMILTON [from our own correspondent] HAMILTON, Thursday The effect on secondary school rolls of the strong inquiry for labour was mentioned by members of the Board of Managers of the Hamilton Technical High School last niglit when the principal, Mr. W. Fraser, reported that 314 of last year's pupils had left the school. Mr. Fraser said the roll number was now 573, which was seven less than at the beginning of last year, the enrolments being approximately the same. Forty more pupils had left the school than in any previous year but, even so, the demands of employers were unsatisfied. About half of those who had loft had spent more than two years at the school.

LONDON WOOL SALES DEMAND FOR CROSSBREDS LONDON, March 10 At the London wool sales to-day 7853 bales were offered, including 5878 New Zealand, and 7479 bales wore sold. A pood selection consisted mainly of New Zealand crossbreds, and met active competition, the bulk selling to the home trade at full current rates. New Zealand greasy Merinos. "Bankhouse," realised top price 21d, averago 2(Ud; scoured, ''Montalto," 36d; greasy crossbred, "Hauiarau," 18d and 16Jd. The Bank of New Zcalnnd has received the following advice from its London Office dated March 9 regarding the London wool sales:—The sales continue with a very actix-e market. Prices are being fully maintained. SECOND TIMARU SALE DATE ADVANCED A DAY [BY TELEGRAPH —PRESS ASSOCIATION] TIMARU. Thursday The second Timaru wool sale of the season, which was to have been hold on Tuesday next, has been advanced to Monday evening to suit the convenience of buyers. The catalogue will probablv be 24,000 bales. SYDNEY PRODUCE MARKET SYDNEY, March 11 Following are to-day's quotations on the Sydney produce market:—Wheat: Mnrket firm. Shippers' price in country tor silo lots, 4s 9d, equal to about 5s 4d ex trucks Sydney. Bagged wheat, about 5s sd. Flour, £l2 15s. Bran, £5 10s. Pollard, £6 5s Potatoes. Tasmanian, to £6 10s. Onions, Victorian Globes, £9; white, £B. Maize, to 5s 3d. BRITISH WHOLESALE PRICES (Itoccircd March 11, 0.5 p.m.) British Wireless RUGBY, March 10 The Board of Trade's index of wholesale prices was 1 per cent higher in February than in January and 13.3 per cent higher than a year ago Average prices in February were higher than any month since March, 1930.