FINANCE AND TRADE

New Zealand Times, Volume XXXII, Issue 7020, 7 January 1910, Page 6

FINANCE AND TRADE

NAPIER WOOL SALES. RECORD CATALOGUE SUBMITTED. r.rnciAt to m» " times.NAITER. January G. Till* afternoon '.here iras commenced 'he lur-p-t wjol Kill., ever hold in Napier, t c-.Ulurjm of 21,016 bales belli;* offered, hi November 30th last there wrre offered 12.702 bales, nil of which were .-old. Tho ! ii(.-r—sf therefore, of 83U bales between (•in hvo sabs was no doubt due largely '<i the «p:ciuli;l result:; of Hip last series. lUr.-ku'o Hay grown*, it. Keen:*, have ..„..,! (-if. c f the: times and have icon' that it J 3 far more profitable for tin a t-. ponsi-n to Napier and rtap'the hi|?.i prices Dnvailin- hero rather than rif; tli- London market and po-si bly pay intor:-.st for advances while awaiting their returns, which even under the uvj3l. favourable circumstances can hardly rxctrd "hut they are now reviving. Therefore, Hawke's jia.v growers 'lavo cause to rejoice in the newly-gained nosuci-ity. i'rem the ops-mug 01 tins /ear' to Hie end of iN fir.-t fortnight apurly "1.003 bales will have been sold •ji the i'sur following centres:— linlrs. Wellington, January 3rd ... 19,600 Napier, tb-dnv ' ... 21,000 Auckland. January 12th ... 8,000 ChrUtchureh, January 13th ... 25,000 This wool, if sold, must bo noid for fourteen {lavs after the date of the sale. Thus January 27th is the extreme date for Kcttlement. It will therefore be enaily 6epu that conpiderablv over 011,000,000 will be placed in the pockets of the New Zealand wool "rowers. The buyers leavo hero on Friday morning for the bis Chrislchurch sales on the 13th. Tho London January .sales tako place five days later. BAB PACKING. " Some of the buyers," paid a. broker this morhintf. "said something about 80 por cent, of the Wellington wool being unfairly packed; but wo have received no complaints from buyers on this point. The wool is well packed here, but, of course, there are always exception*; to the rule, and some clips were badly sot up. I must snv that the packing this season shows a decided improvement." Speaking on this subject. Mr Walter Hill, a prominent wool buyer, said : " Bad packing does exist. Bales have been ' faced/ i.e., the best wool placed where it can be seen, and this nuisance has been evident in several instances in Napier to-day. In one caso I knocked off Id per l'o on this uccount, THE CONGESTION. . "The brokers," said Mr Hill, "could Hot have anticipated an increase of 8000 bales in their and they have done exceedingly well in showing the wool as they have done. Our difficulty is in (tettinu from shed to shed, and the idea of a joint wool store now being canvassed is a good one. It would save us a lot of trouble and the brokers a lot of expense. " CONDITION OF THE WOOL. Asked about the condition of the wool offered to-day, Mr Hill remarked that it was only average, and had gone off considerably since the November sale. There were -also a tremendous number of *' Cotts." This would, of course, affect the price per pound. LONDON PRICES. Questioned about the difference in ours and tho Landon prices, Mr Hill said that the London September sales were not. a. fair criterion, as they were erratic and very little greasy wool was offered. The English market will have to advance between now and the time that tha wool bought recently reaches Home something like 10 per cent, before the rates reach those obtained here. The prices obtained must be considered satisfactory. Those who got bargains deserved them, for the day was very hot and the atmosphere of the sale room eultry and oppressive in the extreme. FROZEN MEAT MARKET, j FBESS ABSO3IATION. NAPIEB, January 6. The Colonial Consignment Distributing Company to-day cabled the following report from London on the frozen meat market: —"Value of new season's mutton and lamb slightly firmer. "Value of beef, fores declined id. To-day's quotations: — Napier, Wellington, and North Island, 3id. per lb; lamb, first quality lid; second. 3|d; beef, hinds 3d, fores 2id. The New Zealand Loan and Mercantile tAgenoy Co., Ltd., has received the following cablegram from its London house, (under date sth inst.: —Tallow—We quote jjreseoit spot values for the following ideaoriptiona: Good mutton, 35s 3d per £wt; good beef, 33s 3d; mixed 335. Carkei firm, '. 6TQCK EXCHANGE QUOTATIONS. FBESS ASSOCIATION. DUNEDIN, January 6. Stock: Exchange sales, reported.—Waihi ■Grand Junction, 35s 9d; Standard Insurance, 23s 3d, LONDON COMMERCIAL CABLES. JBy, Telegraph—Press Association—Copyright. LONDON, January 5. TALLOW. At the tallow sales 458 casks were offered. Fine mutton realised 37s 6d peir (Owt., medium 33s 6dj beef, fine 363, medijum 32s 60, PRICES OF METALS. Tuesday's closing prices were: Copper.—On the spot, 16s 3d lower at {£6l" Us 6d per ton; three months, 16s 3d lower at 0262 Is 3d; electrolytic, 10s tower at £63. Tin.—On the spot, 67s 6d lower at 03148 ffs 6d per ton; three months, 62s 6d lower at 02149 15s. Lead.—Soft foreign, . Is 3d lower at «El 3 lis 3d per ton. WHEAT. Three Australian cargoes—2l,ooo quarters (loading), 10,000 quarters (DecemberJanuary shipment), and 6000 tons (per steamer, January-February shipment)— •have been sold at 40s per quarter; • another of 6100 tons (January shipment), iit 40s net; one of 14,000 quarters (Janu-ary-February shipment), at 30s 10£d; 5900 tons (per steamer, December shipment), at 40s 3d; and 6400 tons (per steamer, January shipment), at 40s 6d net. (Received January 6, 10.35 p.m.) LONDON, January 6. Two Australasian cargoes sold yesterday at 40s and 41s per quarter respeo-, tively, and 12,000 quarters (DecemberJanuary shipment) at 10s 3d. The visible American supply of wheat and flour cast of tho Rocky Mountains ♦is estimated by "Brndstrcets" at tho equivalent of 55,303,000 bushels, compared with 55,562,000 bushels last week, and 84,805,000 bushels a year ago. (Received January 6, 9.35 p.m.) LONDON, January 6. Yesterday's quotations included:— Copper.—On the spot, ,£6l 13s 9d per ifon; throe months, 0262 12s 6d. Tin.—On the spot, 02151 13s 9d por ton; three months, 02152 17s 6d. Lead, 0213 15s. YESTERDAY'S STOCK SALES. - PALMERSTON. Abraham and Williams report:—We opened tho first sale of the New Tear ,with a small yarding of sheep and a very fair yarding of cattle. Sheep seem-

od to be rather dull of sale, but wo managed to quit the whole of our entry with the exoeption of one small pen -of aged ewes. „ Fat ewes 9s to 10s 10d, fat wethers lis, fat lambs 9s. Cattle met with a ready sale, and we effected a total clearance. Aged bullocks ,£6 Bs, steers 024 Ds to £i 16s 6d, 20-month heifers in calf 023 4s 6d, fat and forward empty heifers 023 10s, light fat bullocks 036 15s, aged cows 25s to 022 10s, springing cows 025 ss, bulls 35s to 024 Is. Dalgety and Co. report:—We had a small entry of sheep and a fair yarding of cattle. Ewes and lambs, all counted (small percentage lambs) 6s 7d, ewes and lambs all counted 7s 2d, a line of 117 bmUoeks (in conjunction with Abraham and Williams) 026 Bs, 4-year bullocks 0.5 lis 6d, fat cows Oi4 7s 6d, empty heifers 023 18s, young bull 355. The New Zealand Loan and Mercantile Agency Company reports: A medium entry of sheep and cattle came forward, and met with fair competition. A good clearance "was effected. Two-tooth ewes lis, 2-tooth wethers 9s 3d, ewes and ■lambs all counted Bs, 18-month steers 0:2 10s, 2 and 2J-year steers OU 8s 6d to 024 10s, small weaners Ss to 13s, heifers in milk 022 12s 6d, cows and calves 022 16s, cows in calf 023 2s 6d to £4, forward heifers 023 ss, forward cows 023 Is to 023 16s, fat cows 024 15s, bulls 37s 6d to 023 ss. OTAKI. Abraham anld Williams report:—AVe had a small ya.rding of sheep and cattle. " Wo quote:—Fat and forward ewes 9s 6d, cows and oalves 023 to 023 3s 6d, fait cows 024, forward cows 023 6s, wean* era 10s 6d to 17s, bulls 355, porkers 15s. The Customs revenue reoeived at Wellington yesterday totalled 021942.