COMMERCIAL

Poverty Bay Herald, Volume LXIII, Issue 18920, 23 January 1936, Page 8

COMMERCIAL

AUCKLAND WOOL SALE BINNED LOTS WANTED ALMOST FIERCE COMPETITION Bidding was bright throughout most of the Auckland wool sale, with occasional dull periods where offerings lacked style. It, was noticeable, however, that limits were somewhat rigidly fixed, though for attractive lots the demand was frequently more elastic.

As usual, large lots of biimed wools were the subject of almost fierce competition, and the sale was frequently interrupted as a result of the buyers over-running .the auctioneer. Altogether the disposal was effected at a high pace, the total of 28,253 bales being auctioned in about bonis' selling time. With the bulk of the offering in the medium to line crossbred class, values for these were generally about firm on those at the previous Auckland ,sale. The demand for hoggets, both coarse and medium, was erratic, and values were inclined to be easier. On the other hand, finer wools, of which there was a comparatively small offering, sold at improved rates. Lambs' wools were also in short supply, and always attracted strong competition at prices above those at last sale. Crutchings and bellies and pieces continued to find a ready market. Bradford interest was stronger than at the first sale, and Japan was extremely active. Although certain Continental buyers appeared to be operating sparingly, as a group they provided very healthy competition throughout. France, in particular, was again in the market for finer wools and bellies and pieces, while New Zealand and Australian mills gave tone to the sale. Much of the offering was not suitable for American requirements, and little went to that, quarter. Top price of the day was 18|d, realised after spirited bidding for a tine of six bales of tine half bred ewes, from Mr. D. Gray, of Cowes Bay, Waiheke Island. Another ewe clip from the same area brought 17d. One of the best sales of the. day was that of the. Mangatangi clip of Mr. T. L. Vining, of Pokeno, whose heavy yield of Corriedale wool sold to 16d, with/ even values down to bellies and pieces at 9£d. Buyers left by train for Christchurch, where the next sale of the series will take place on Monday. Prompt date for payment in respect of the sale is fixed as Febrnarv 4.

STRONG COMPETITION SYDNEY WOOL SALES SYDNEY, Jan. 22, At the wool sales 19,420 bales were offered, of which 17,448 bales ware sold; 1938 bales were disposed of privately. There was a strong general competition and the market was fully firm, with skirtings in particularly strong request, and realising in sellers' favor. Greasy merino sold to 28£d.

GOLD AND SILVER QUOTATIONS IN LONDON LONDON, Jan. 20. Fine gold is quoted to-day at £7 Os an m... compared with £7 0s lOd on Saturday. Silver '%> quoted at 19 3-16 d an oz. spot, compared with 19d on Saturday. The quotation for silver at per fine oz. is 20 11-16 d, compared with 20jd: on Januarv 17.

MINING NEWS YIELDS OF COMPANIES . 'Stafford Dredging (West Coast).— For the week ended January 8, dredge worked 172 hours, and treated 15.423yds "or 98|oz gold. Previous, 7279yds and 4730yds of overburden for 30oz. Bulolo (New Guinea) production for December, with November figures in parentheses :—Dredged 615,000 (811.000) cubic yards; bullion, oz., 9632 (14,087); gold, fine oz., 6774 (9723); value in Ans tralian currency, £59,272 (£a5,076); working profit, £42,892 (£63,166). No. 2 dredge was shut down for approximately six weeks, during which the diggiing depth will be increased 7ft. 6in. and special gold-saving equipment will be added.

.SYDNEY STOCK EXCHANGE SYDNEY, Jan. 21. Sales on the Sydney Stock Exchange to-day included: Commonwealth bonds, 3| per cent., 1948, £99 ss; 3$ per cent., 1942, £IOO 17s 6d; 4 per cent., 1938, £lOl 15s; 1941. £lO2 6s 3d; 1944, £lO3 7s 6d; 1957, £lO4 12s 6d; 1959, £lO5 ss; 196 L £lO5 12s 6d; Bank of New South Wales. £33 15s; Australian Gas, A, £7 19s; Tooth's Brewery, 53s 6d; Anthony llordern, 21s 6d ; ditto, prof., 255; Associated News, 22s 6d; Australian Glass, 84s 3d; Broken Hill Proprietary, 595; North Broken Hill, £7 8s 6d; Du'iiiop-Perdriau, 16s 4Jd; GoldsbroughMort. 33s 6d ; Howard Smith, 19s l£d; Wilcox-Mofflin. lis Bd. The Stock Exchange was closed after the first call, on account of the King's death.