NEW WOOL

New Zealand Herald, Volume 82, Issue 25344, 27 October 1945, Page 5

NEW WOOL

SEASON'S APPRAISALS PROCEDURE UNALTERED This season's wool for appraisal in Auckland was coming forward steadily with tho recent dry weather, and tlio condition of what had been opened for classing was so far very favourable, said tho chairman of the Auckland Woolbrokers' Association, Mr H. Duke, yesterday. Tlio first appraisal of tho season would ho held on November 17, and if 'the fine weather continued there was likely to be a fairly large catalogue, comprising mainly the drier typo of hogget wool and wether wool. Tlio procedure at this season's appraisals under the Empire wool disposal scheme would be the same as that of last season, said Mr Duke. Arrangements had been made with the Railway Department for wool to ho forwarded as expeditiously as possible, and although it would bo necessary to regulate tho (low into tho stores, the department had promised the utmost co-oper-ation. Owing to • tho anticipated size or tho first catalogue, Mr Duke advised growers to forward their wool as soon as possible after shearing, and to communicate with their nearest railway station when the woo! was ready. The other Auckland appraisals this season will be held on December 8, January 29 and March 19. No date has been fixed for the final appraisal. DEMAND FOR LOANS SHORTAGE OF SUPPLIES AUSTRALIAN SHARES FIRM When allowance is maile fur the shortened week, share business wan well maintained on the Auckland Stock Exchange this week, but there was a decline in tho turnover of Government loans. This section remains the leatore of the market, and while there is a fairly steady supply of loans changing hands, the market appears ready to absorb several times the volume without greatly disturbing the present firm values. Meantime, buying pressure iu the share sections has steadied and left the market tone somewhat more sensitive than it has been over the past few months. , Business over the week, which bad only four trading days, owing to the holiday on Labour Day. was as follows: Loans No. of Shares .t Invest. Mining Tuesday (Oct. 23) 500 .3,225 050 Wednesday . . 1.000 3,7uti IS.. Thursday .. I.TJO 2,930 [['"J Friday (Oct. L'U) . ;{.iM)O 3,5<>1 > Totals .. 9,010 "13,118 2,000 Last week .. 27,300 10,1 OH .1,858 Compared with tho previous week's figures, which are shown in parentheses, business was distributed as follows:—Government loans £OSIO (£20,100); local body debentures, nil (£1000); commercial debentures, £IOO (£200): banks, 4490 shares (3010); insurance, 183 (000); loan and agency, 400 (nil); coal, nil (3000); gas, 700 (252); shipping, ml (loO); timber. 800 (nil); woollens, 1000 (nil); breweries, JL5'-0 (1050.); miscellaneous, •loio In tiie early part of the week brokers wcro busy with the spate of tell, and textiles applications, the issue, as was anticipated, being many times oversubscribed. ■ utes Rank of New Zealands continued actively on a receptive market, the week's turnover of 4190 shares in the bank section, including a:i"0 New Zea lauds, against 2300 )'• .the previous week. The price this week remained steady at sns. Some industrials displaced added strength, notably woollens, while hijuier ceiling limits in Australia had a favourable Influence on the relevant socks held on this market, which was supported by buving. Gold and metal shares have attracted much more attention over the past few weeks and there havo been marked K<uns. llawangs, however, chief of the tin rol ' l> on this market, received a sharp setback, buyers retreating to Os 0(1 after sales had been made up to 10s early tins month.

LIVESTOCK MARKETS PRICES AT MORRINSVILLE (0.C.) HAMILTON, Friday V full yarding of fat sheep came forward at- Morrinsville today. Competition was strong and prices were on par with those ruling at the central yards. There was a medium domand for store hoggets and prices showed no alteration. A larger offering of fat cows.again sold freely and firm values were maintained. A full yarding of honor cows sold to recent rates There was a limited inquiry for empty Jersey heifers with no improvement in prices. \ full varding of dairy cattle, including the advertised line, nunc forward. Competition for good quality young cows and heifers, in milk or close to profit, was keeh ami recent quotations for these were fully maintained but inferior and backward lots were dull,of sale. A large yarding of all classes of pigs was penned. Baconers and buttermilk p'~ s were in very keen demand, prices realised being in advance of those ruling last week. Store and weaner pigs were also keenly sought after, a good sale resulting. Choppers So 'sheep!— Prime fat hoggets, 3Ss to 40s; lighter prime hoggets, 31s to 3<>s ; light and unfinished. 31s Od to 32s 6d ; heavy fat woolly owes 25s Gd to iiOs Od; medium store wether hoggets, -5s to 20s 3d; ditto ewe hoggets, 2/s to 28s 6d; medium woolly wether hoggets, to '>Ss Cattle: Light fat steers, £l(3 los; heavy fat cows, £lO 15s to £l2 12s Od; medium. £8 15s to £9 :17s 6d; light fat cows and heifers. £7 5s to JcS 10s; boner cows, £-1 to £5 10s; two-year Jersey heifers, X* 10s to £5 IDs; yearling Jersey heifers, £.» 1-s to £ ]1«; two and three-year service bulls, £lO to CI2 1Os; yearling Jersey bulls, £t los to '(> ss. Dairies: Choice young calved rows and heifers, £ls 10s to £l7 10s; .good young ditto, CM to £ls; medium £l-' to £l. Ids- older calved cows. 19 to ill: (food duaiity springing cows. £l2 to £ 14; good quality springing heifers, £l3 to CM 10 s. backward heifers. £0 to £B. Pigs: Heavy choppers. £4 to £5 ss; others 22s o £3 15s; prime heavy baconers. £p 8s to ,£•> los. heavv baconers, £5 to £5 Os; medium. £4 108 to £4 Kis! light, £1 to £4 butter; milk pigs and largo stores. £3 to £4 lis, smaller stores, £2 8s to £2 15s; slips, 34a (Jd to £2 4s Gd; weaners. lis Gd to 32s (> . sows in farrow, £2 Js f»d to £o od. sows with litters, <£4 10s to X' 7 10s; son ice boars to £2. PROPERTY VALUATIONS OLD STANDARDS DISCARDED The difficulties facing property valuers in giving an accurate guide to property values under present world financial conditions wero emphasised by the chairman of the United Permanent Building and Investment Society of Auckland, Mr W. N. Leatham yesterday. Ho said that in contrast with the position when values were measured against limited credit, based on the tangible gold standard, there was today a flood tide of currency bused on Stato guarantee. "With the discarding of time-honoured standards, we search in vain for past guidance to help us," he said. Under present conditions, and with poor data, _ valuations become a matter of scmi-speculativo opinion ratlur than of sound judgment. This has a definite bearing on long-term mortgago contracts and tho need | for stability as the foundation of security." STARR-BOWKETT SOCIETY (0.C.) HAMILTON, Friday '"During the last year appropriations totalling £IOOO were made to members, said Mr F. Bullock, chairman of directors, at tho ■- , ° nd annual meeting of the Jlamlltoii StarrBowkett Building Society last night Only one appropriation was sold. £IOOO realising only £lO5, or lofW than 'J per cent. Accumulated profits amounted to £OOBB, or £lO 4s <d a share. .Messrs I<\ Bullock and F. C. House wero re-elected directors. SIIARLAND EARNINGS Net profit of S bar land and Co., Ltd., for the year ended August 31 was £11,121, an increase of £152. The «»»ounL appropriate 1 for taxes was £31,000, against £311,200. Dividends, plus the usual bonus of 2 per cent ori all shares, absorb £8,50 and £-000 is again placed to reserve, leaving £371 to raise tho carry-forward to £BBOS. Results for three years are:— _ 4rlA ir ,._ 1043 1044 1945 Brought in .. £7,027 £8,215 £8,434 Not profit .. 11,038 10,009 11,121

£18,905 £19,181 £1.0,555 To reserve .. 2,000 2.000 2.000 Dividends— Pf. & ord„ 7 p.c.* . 8,750 8.750 8,(50

Carried fwd. . £8,215 £8.434 £8,805 ♦lncludes 2 per cent bonus on all shares. The balancing total is reduced by £5521 to £302,801. Liability to the bank is up £3189 at £00,001), while open liabilities have fallen £14,885 io £31,802. Stocks are down by £12,750 to £100,034, but, properties are £O2BO higher at £00,003. Tliero is also an increase in book debts of £I3OB to £00.214. Holdings of war loans have been reduced £SOOO to £SOBB.