COMMERCIAL

Poverty Bay Herald, Volume LII, Issue 17133, 8 September 1926, Page 8

COMMERCIAL

CHICAGO WHEAT QUOTATIONS

(Elec, Tel. Copyright— United Press Assn.l (Australian and N.Z. Cable Association.! (Received .September cj. noon.) NEW YORK. Sept. 7. Chicago wheat quotations are: September, 150;? cents; December, cents; May, 139 j cents per bushel. CROSSBRED WOOL DEARER According to Bradford advices (says the Dominion) crossbred woo] is dearer, and this is excellent news for New Zealand, h'oi the past four or five weeks the lone of the Bradford market exhibited an improving tendency, and the firmness of the market is disclosed in the 11 notations for tops, which show advances lov practically all counts, as will be seen by the following figures, which give the ({notations un August 5. and September o._

A'l the counts except 60's have advanced. Even low crossbreds are a halfpenny higher. At the Sydney sales last week merino wool advanced 5 per cent., and greasy merino sold at 24§d to 25d and 25£d, and the demand was good throughout. The facts available warrant the belief that at the London sales next week prices will show an all round improvement.

This upward movement indicates the strength of the' wool position notwithstanding the difficulties which beset it. Not O'Tico during the past twelve months has rlie markei been free of some disturbing eminent. The general strike, the prolonged »eoal strike,' the remarkable fluctuations in the exchange value of the French and Belgian francs and the Italian lira havp all tended to hamper the wool market, but it has withstood these troubles, and one wonders what would happen to prices if the whole fexi.'e world' suddenly found its immediate future secure. There is little hope of an v such favorable change. In I lie' Foiled Males there should be some improvment in business as the American Woollen Company has announced a reduction of 10 per rent, nn its prices for' lighiwcigh) worsteds. Tins company is lb,, largflst lexile concern in the United Slates and operates about 55 mills. Woo! is now on a sound basis and one thai manufacturers no doubt find workable, and also one which is not likely to put ;m undue strain on the finances of the world's texile Ira do. The moderate or reasonable prices now ruling inspire confidence and there is every reason to anticipate a good all round demand for all grades of wool.

Messrs. Dalaety and Co., Ltd., have received the following cable from then head office, London, dated Sept. 3. — London wool «i]es: The following steamers in which we arc interested have arrived in time for ,the sales: Mahia. L'aranga. Arawa, Matakaua. Mahana. I)..rondo, and Citv of Winchester. .Messrs. Dalgety and Co.. Ltd., sell .11 the following'dates: SeptenU) -:v 16, 24, 23, and October 6.

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