AUCKLAND WOOL

New Zealand Herald, Volume 79, Issue 24244, 9 April 1942, Page 5

AUCKLAND WOOL

THE FINAL APPRAISEMENT I r / RECORD CHEQUE EXPECTED The sixth and final Auckland wool appraisement for the present season is to commence on April 29, the fixture having been postponed to that date owing to the stores being congested and to give brokers the opportunity to prepare their catalogues. Approximately 20,000 bales will be available. This will bring tho total offering. for the season to over 100.600 bales, compared with 95;500 bales last season, and will constitute a record for the province. The season's wool cheque, which last year established a record at £1,653,092, is expected to exceed £1,760,000. HUGE ARMY NEEDS HIGHER. .RATE FOR PRODUCTS A cablegram from Washington states that the Office of Price Administration has granted a general price increase on all woollen products, ranging from wool pulled from sheepskins to worsted yards. This action was taken hurriedly to enable woollen goods manufacturers to submit bids by April 2 in respect of Army purchases of 75,000,000 linear yards of woollen goods. This is tho largest Army cloth purchase on record. As an example of the higher prices granted, a maximum price of one dollar 60 cents a lb has been fixed for average domestic wool tops, 64's, and finer. This compares with the previous level of one dollar 44 cents a lb. The rise of 16 cents is chiefly due to tho increased cost of domestic shorn wool which was recently authorised, and also to the fact that Army requirements must be filled from tops or finer grades. Separate provisions are made for South American and British Empire shorn wool.

INCREASE IN PRICES ACTION TAKEN IN CANADA (Reed. 6.10 p.m.) OTTAWA, April 7 In order to encourage producers to retain as many sheep as possible for wool purposes, the Wool Board has decided to increase wool prices ten to fifteen per cent over the market prices prevailing last year. LONDON STOCK EXCHANGE LONDON, April 7 On the London Stock Exchange quotations for bank shares and other corporation debentures and stocks, with comparisons for March

24, are:— % March 24 April 7 £ s d £ s d Bank Australasia . 4 10 0 4 15 0 E., S. and A. Bank 2 1 3 2 2 6 Union Bank 3 5 0 3 5 0 Bank N.8.W. 14 0 0 14 0 0 Nat. Bank of N.Z. 0 17 6 1 1 0 Bank New Zealand 1 1 8 1 1 3 British Tobacco .. 1 0 0 1 0 0 Goldsbrough Mort.. 0 12 8 0 12 Q Dalgety 2 15 0 2 ' 7 6 P. and 0. (def.) 1 7 lVo 1 7 4% Loan & Merc, (deb.) 67 10 0 67 10 0 Ditto (ord.) 23 10 0 21 10 0