WOOL FOR JAPAN

New Zealand Herald, Volume LXXV, Issue 22949, 29 January 1938, Page 9

WOOL FOR JAPAN

DOMINION PURCHASES ENCOURAGING REPORT SHARE OF NEW ZEALAND TOKIO, Jan. 27 It is reliably learned that the Ministries of Finance and Commerce and Industry intend to permit the importation in 1938 of ,450,000 bales of wool, of which about 10 per cent will be South African and South American, as "gesture purchases," showing goodwill in spite of the emergency and to protect Japanese exports. The remainder will come from Australia and New Zealand, the latter probably supplying 50,000 bales. So far this season Japan has bought very sparingly at New Zealand auctions, in strong contrast to her activity in the previous season. However, it is probable that a certain quantity was purchased by Japan by private treaty. If the reported purchase of 50,000 bales by Japan eventuates in the Dominion it should give the market a considerable stimulus. Her purchases in New Zealand last season totalled 122,769 bales, which showed a sharp increase on the figure of 75,6K bales in 1935-36. The Continent, and to a smaller extent Bradford, have been the mainstays of the market this season, with Japanese buyers merely spectators. KEEN LONDON DEMAND ONLY MODERATE SELECTION ® LONDON, Jan. 27 At the London wool sales to-day 8786 bales were offered, including 4026 from New Zealand. A total of 6984 was sold. There was a moderate selection and a keen demand from the home trade. The bulk of the offering was sold at ruling rates. New Zealand greasy crossbrcds, "Titi Ten," brought 12Jd per lb.; "Hiku,' 1 IOJd to 113 d; "Icwhanga," IOJd to lljd; slipe halfbred lambs, "Eclipse," 13Jd to 14Jd. AUSTRALIAN ACTION DECLINE IN PRICES (Received January 28. 7.45 p.m.) SYDNEY, Jan. 28 Wool authorities at Sydney are conferring whether, because of the decline in wool prices, which began on Monday, some restriction should be placed on future offerings. The wool brokers' council is watching the situation and intends to take appropriate action if it is required.

BRADFORD MARKET ENCOURAGING INQUIRY LONDON, Jan. 27 On the Bradford market there is slightly more business and encouraging inquiry. Following are to-day's quotar tions and those of recent weeks:— Jan. 6 Jan. 13 Jan. 20 Jan. 27 per lb. per lb. per lb. per lb. el d d d Seventies .. 30 29 29 28% Sixty-fours .. 28% 2</ a 27/, -7 Sixties .. 27% 26% 26% 26 , Fifty-eigrhts 24% 23% 23% 23 Fifty-sixes .. 23 -2/, --A 22 Fifties .. ISA IS/i 18/» ii/i Forty-sixes.. *17% 18 18 17 Forties .. '17% *lB *lB *l7 * Norrinal. GRAIN AND PRODUCE MARKET IN CANTERBURY GOOD QUALITY OF WHEAT [Br TELEGRAPH —OWN correspondent] CHEISTCHURCH, Friday Harvesting has not yet got into its full swing again after the rains of last week-end, and deliveries have been small during the week. Most of the wheat that has come in has been of exceptionally good quality, the few lines not up to standard having been threshed while still wet. Yields are turning out considerably better than was expected. Perennial ryegrass has como in fairly well, but it is now apparent that the crop will be short. There is no carry-over from last year and the good demand that exists has kept prices high. The value at present is 3s 6d to 3s 9d on trucks. Stocks of Italian ryegrass from last season are fairly heavy and, although the crop will bo light, there should be enough available for all requirements. A small amount of cocksfoot has been delivered and if the quality of that so far received is an indication, the quality over all will bo only fair. The crop this year is not heavy. The small seed trade is generally quiet, although there is some inquiry from tho North Island for cocksfoot and ryegrass. Little interest is being taken in potatoes, which remain at- a nominal £3 10s on trucks. Oats are inclined to weaken. To save labour expenses many farmers are threshing instead of stacking, and deliveries are likely to bo heavy. The quality is generally excellent, and yields are reported to bo heavy.

Little attention is being paid to onions, and tliere is likely to be no great activity in this crop until the Government announces its intentions in regard to price. It iB expected that the minimum price will be fixed somewhere about £3 10s to £4 a ton. CARCASES JUDGED WAIKATO SHOW BEEF PRAISE IN ENGLAND [from our own correspondent] HAMILTON, Friday The Waikato Agricultural and Pastoral Association has received the results of the judging in England of chilled beef shipped by the Karamea, the beef having been exhibited at the last, Waikato Summer Show. The results were as follows: — Class 84. 11. Windsor, 1; Whewell Brothers, Tamahero, 2 and 3. Class 86, District Groups.—To Awamutu Group, 1; Cambridge Group, 2; Hoe-o-tainui Group, 3. The judges stated that this was a very fine consignment, all being young cattle. They were nicely chilled and very bright in appearance, and great care had been taken with the dressing of the carcases, which were in excellent order. REMUERA PROPERTY SOLD A fine Romuera property, which had . been owned by the lute Mrs. Isabel Asser, 21 Orakei Road, was purchased yesterday for £3750 by Mr. S. K. Wilson at the salerooms of T. Mandeno Jackson. This property comprises a seven-roomed dwelling set in approximately \V, acres of land, and commands a picturesque outlook that cannot be obscured by future building. The auctioneers reported that the bidding stopped Just short of the reserve of £3751), but this figure was realised immediately after tho sale concluded.