LONDON WOOL SALES.

Otago Witness, Issue 3871, 22 May 1928, Page 23

LONDON WOOL SALES.

LONDON, May 14. At the wool sales 8221 bales were offered, of which 2720 were New Zealand and 352 Australian. There was a good selection of greasy scoured crossbreds. The tone was better, and there was good competition. Greasy.. crossbreds were firmer. New Zealand sales: Okare, 23d and 20d; Owetes, 214 d and 20d; Namgatoi 224 d and 21d; 22d and 19|d’ Bluff, 25|d and 24d; scoured Rumumoana 36|d and 30d. , , , , May 15. At the wool sales 11,311 bales were offered, of which 6859 were Australian and 3419 New Zealand. There was an excellent selection of nflgpnos, but a limited supply of other sorts, j There was a good tone, and keen competition from all centres. Prices were unchanged. New Zealand sales: Mount Paul, 27d and 25}d;’ Lyndon, 264 and 24id; Birchill, 26d and 24Jd.

May 16. At the wool sales 10,972 bales were offered, of which 4200 were Australian and 1981 New Zealand. .There was a good selection of merinos,- and an excellent tone prevailed in all classes. Prices were fully maintained. New Zealand sales: Campbell, Glen Dhu, and 26d; Holton, 27d and 24jd; Maku, 21d and 18jd. ~ „ May 17. At the wool sales 9430 bales were offered, of which 1682 were Australian and 5704 New Zealand. There was an average lot of merinos and greasy crossbreds, and a splendid selection of scoured crossbreds and slipes. The market was very _ firm with keen Home trade competition. New- Zealand: Tahora, 20Jd, 19Jd; Kenley Downs, 27d, 23d: Haldon, 48d, 46d; Candmcl, 35d, 30Jd; Hrtt, 20d, 18£d. A . ~ , , May 18. At the wool sales 9856 bales were ofwhich 5346 were Australian and 2072 New Zealand. There was a good selection of merinos, but a limited supply of other sorts, mostly reoffered lots. There was good general competition, and late lates were maintained. Sales: Waverley. B St- Peter’s Pass, 29d and 28d; Rosevale. 49(F~-and 45|d: K (in diamond), 21 Ad and 21d; Teviotdale, 264 d and 24Jd; Gerard, 30d and 28jd.

Messrs Dalgety and Co., Ltd., advise having received the following cablegram from their head office, London, dated May14:—The London wool sales continue with strong competition; English buyers are operating moderately. As compared with closing rates of last series greasy merino were Id to lid lower; scoured merino, change, if any, is in favour of buyers; greasy halfbred, Id to lid lower; greasy crossbred fine, Id to lAd lower; super greasy crossbred medium, Id to lid lower; greasy crossbred other descriptions, unchanged; crossbred greasy pieces and bellies, $d to Id lower; scoured crossbred, unchanged; crossbred slipes fine and medium, Id to lid lower; slipes other descriptions unchanged; greasy lambs, crossbred. Id to 1-Jd lower.

Messrs Murray. Roberts, and Co. have received a cablegram from their London agents, dated May 16, as follows:— Sales continue with a good tone. Greasy merino: The market shows a hardening tendency. Scoured merino, best: fhe opening rates are barely maintamed.. Crossbred greasy: The market shows no change. Crossbred scoured: lhe market shows a hardening tendency. BRADFORD TOPS MARKET. ti i L May 14. lhe Bradford market is inactive, with very little inquiry, but quotations are firmly maintained. Spinners are not getting new business. T . n . ip > LONDON, May 17. ine Biadford market had a slightly improved tone, but business was very slow. Quotations: 64’s, 54d; others unchanged. WESTERN CANADA’S GRAIN CROP .VANCOUVER; May 15. The Maniotoba Provincial ' Government’s bulletin says that Western Canada s 1928 grain crop has been given a start that is regarded as most favourable, with an appreciable increase in the acreage sown. Altogether the outlook is the brightest in a decade. TONSON GARLICK COMPANY. AUCKLAND, May 15. lhe thirty-first annual report of the Tonson, Garlick Company, to be presented at the annual meeting of shareholders on May 30, states that in rei lewing the past year, it is necessary to take into consideration the trying and abnormal conditions which the company had experienced. The removal to Karangahape road folio-wing the sale of the Queen street property necessitated a di astic reduction of stock, which was detrimental to profit making. The disastrous fire in the warehouse on February 6 last caused a further disorganisation and materially affected the earning power of the business. The result of the year’s trading, after making provision for depreciation and bad debts, is a net loss of £2762, leaving a debit balance in the appropriation account of £lB2B. The latter has been met by the transfer of a similar amount from the reserve which now stands at £11,436. Notwithstanding the loss, the report states that the corn” pany is in a very sound financial position and the directors recommend the payment of 4s a share in reduction of capital. This will reduce the 40,000 £1 shares to 16s each. WESTPORT COAL COMPANY. The directors of the Westport Coal Company, Ltd., have declared an interim dividend of Is per share, payable on May 29 to all shareholders on the register of the company on May 16. DAIRYMEN AT VARIANCE. MR GOODFELLOW AND MR GROUNDS. AUCKLAND, Mav 16. Objection to a statement by. Mr W. Grounds (chairman of the Dairy Produce Board) that certain dairy interests in the Waikato, and notably Mr W. Goodfellow (managing director of the New Zealand Co-operative Dairy Company, Limited), had changed their attitude towards the unified national marketing organisation, has been taken by Mr Goodfellow, who stated to-day that the chairman of the board had misrepresented the position, andjthat a full reply would be made in due course. “It is becoming increasingly evident that the board has completely failed, in its objective, and that a reduction in its personnel and expenses generally is urgently desired,’’ he said. The New Zealand Dairy Company and its suppliers had in' no way changed ’ their opinion. On the other hand, it was the Dairy Produce Board which had inaugurated . a new policy. Amalgamated Dairies, Limited, aimed to carry out the objective which the board in the first instance had had' in view.