COMMERCIAL.

Otago Daily Times, Issue 19350, 10 December 1924, Page 6

COMMERCIAL.

SYDNEY WOOL SALES. Press Association—By Telegraph—Copyright. SYDNEY, December 8. The wool sales were resumed to-day. There was keen competition in all sections, and a strong market ruh-d for good descriptions of merino. Faulty descriptions of both merino and crossbred were slightly irregular. Lambs’ wool was in strong demand. Greasy merino sold up to 45Jd. LONDON MARKETS. The Now Zealand Loan and Mercantile Agency Company have received the following cablegram from their London house, under date December 5; New Zealand frozen meat: There is no change in the market. Messrs Joseph, Nathan and Co. (Ltd.) are in receipt of the following -cablegram from London:— Now Zealand butter, 2045. Cheese, 925. The market is quiet. SHEEPSKIN SALE. The Dunedin Stock Agents and Woolbrokers’ Association (New Zealand Loan and Mercantile Agency Company, ualgety and Co., Wright, Stephenson, and Co., Otago Farmers’ Co-operative, Stronach, Morris, and Co., National Mortgage and Agency Company, Donald Reid and Co., and Todd Bros 1 report as' follows; The usual fortnightly sheepskin sale was held to-day, when largo catalogues were offered to a full attendance of buyers. Competition throughout was keen, and all the catalogues were cleared at prices firm on last sale’s rates. Quotations are as folliowo—Merino: Three-quarter to full-wool, to 24jd. half-wool, 20d to 23 Jd; quarter-wool, X6Jd to 19d. Half bred: Three-quarter to full-wool, 24Jd to 25Jd; half-wool, 20Jd to 23Jd; quarterwool, 16d to 18d. Pine crossbred: Thre» quarter to full-wool, 22Jd to 24d; half-wool. 19d to 22d; quarter-wool, 15Jd to 18d. Crossbred: Three-quarter to full-wool, 19Jd to 29Jd; half-wool, 17d to 19d; quarter-wool, Isd to 16Jd. Beat pelts, to 17Jd; other pelts, to 12 Jd. Merino dead, 18jd to 23d; halfbred dead, 18id to 23d; crossbred dead, I6ld to 18Jd; hogget dead, XBJd to 21Jd; lambskins, 17}d to lf>id; half and fine crossbred hogget, to 23Jd.

CANTERBURY MARKETS. (Psa UNITED PBESa Association;* CHRISTCHURCH, December 9.

Tho amount of business being done at present is small indeed, all lines being apparently equally affected, and it is likely that trade will continue dull until after the New Year.

Some forward business is being done in potatoes, but generally speaking, this class of business has not yet attained any big dimensions.

Even forward ryegrass business has petered out, there being plenty of sellers but no buyers. Cocksfoot is stationary, and so also is clover. Nothing is being done in potatoes, nor it is expected that ordere of any size will come to hand until tho new crops come forward. ■*». NAPIER WOOL SALES. DECLINE IN PRICES. (Pee United Press Association ) NAPIER, December 9. Tho second wool sale of the season in Napier opened this evening, when nibout 8000 bales of the total catalogue of 28,377 boles were offered to the usual bench of buyers, tho majority of whom appeared to bo lookers-on. Many buyers who took large quantities at the first sale hardly put in a single bid to-night, but two new operators helped to maintain the market to gome extent. Otherwise it ie thought that the market would have shown a very heavy decline. As it was fleece wool, taken all round, showed a decrease on tho last Napier sale of up to 2d. Scouring wools declined Id, and super fleece wool was also easier, but on the other hand good pieces and necks met with keen competition from France and New Zealand mills, and ehowed an increase on previous sales’ rates. One lot of necks brought 24d Lambs’ wool showing any quality was keenly sought after, and prices were maintained. Southdown went as high as 34Jd and halfbred to 32Jd. One lot of hoggets reached 28Jd, but the bulk of this class sold at several pone© loss than that anticipated. When the half-dozen buyers now operating fulfil their requirements there will be a further considerable drop in prices. Bidding lacked animation; in fact, the auctioneers were provoked into such remarks aa “Get to it” and “Como on or you’ll go to sleep. ’ LONDON WHEAT MARKET. Press Association—By Telegraph—Copyright. LONDON, December 8. (Received Dec. 9, at 10.35 p.m.) Wheat cargoes firmed 6d to 1« on strong Argentine reports. Parcels were in good demand at an advance of 6d to Js. Liverpool futures —December (sellers), 12s 7Jd; March, 12s lOd; May, X2e 9Jd. —A. and N.Z. Cable. CHICAGO WHEAT QUOTATIONS. Press Association—By Telegraph—Copyright. NEW YORK, December 8. (Received Doc. 9, at 10.35 p.m.) Chicago wheat: December, 158|d: May, 164 1-8; July, 145 cento per bushel.—A. and N.Z. Cable,

LONDON METAL MAEKET. Press Association—By Telegraph—Copyright. LONDON, December 8. (Received Dec. 9, at 8.50 p.m.) Copper: Spot, £G3 16s 8d; forward, £64 16s 3d. Lead: Spot, £39 ss; forward, £37 2s 6d. Spelter: Spot and forward, £35 3a 9d. Tin: Spot, £255 15s; forward, £258 17s 6d. Silver; Standard, 33Jd; line, 35Jd per oz. — A. and N.Z. Cable. SHARES AND GOLD. Press Association—By Telegraph—Copyright. LONDON, December 8. (Received Dec. 9, at 8.45 p.m.) Mount Lyell: Buyers, 24a 9d; sellere, 25s 3d. Waihis: Buyers, 25a 8d; sellers, 275. The price of fine gold is £4 8s 8d per oz.— Reuter. LONDON WOOL SALES. Press Association—By Telegraph—Copyright. LONDON, December 8. (Received Dec. 9, at 8.45 p.m.) At the wool sales 9G98 bales were offered. A moderate selection of crossbred sold readily and prices were steady. Merinos were in demand, but the market is quiter and prices were rather easier. Medium scoureds were frequently bought in and slipcs sold irregularly. The Bradford tops market is quiet and spinners are not operating at present quotations, but prices l are well maintained.— Reuter. FOREIGN EXCHANGE RATES Press Association—By Telegraph—Copyright. LONDON, December 8. The exchange rates are sb follow • Par. Deo. 4. Deo. 8. Paris, fr. to £1 22.225 84.00 87.00 Brussels, fr. to £1 ... 22.225 93.75 95.00 Christiania, kr. to £1 ... 18.159 31.25 31.25 Berlin, reichsmarks to £1 20.15 19.62 19.75 Copenhagen, kr to £1 ... 18.159 26.50 26.40 Stockholm, kr. to £1 ... 18.159 17.35 17.46 Montreal, dol. to £1 ... 4.86 4.68* 4.70| New York, dol. to £1 ... 4.86 4.68 J 4.70 Home, lire to £1 22.23} 108* 108} Hongkong, st. to <lol. ... * 38J 28J Yokohama, st. to yen ... 21.5 1713-18 17 9-16 Calcutta, st. to rpo 10 bo gold £1 18 18 • Determined by price of silver. —A. and N.Z. Cable.