LATE COMMERCIAL

Southland Times, Issue 19513, 12 May 1922, Page 5

LATE COMMERCIAL

LONDON WOOL SALES. (By Telegraph—Press Assn.—Copyright) (Australian and N.Z. Cable Association). LONDON, May LOl (Received May 11, 10.30 p.m.) The wool sales continue to harden. Inhere is good home and Continental demand for all merinos, especially average top making sorts. There is an equally good demand for crossbreds. Low and medium are now 10 per cent above the opening price. THE LONDON MARKETS, LONDON, May 10. (Received May 11, 10.30 p.m.) Despite the bearish rendering of the Washington Bureau report, cargoes ere fully steady. .Australian cargoes are active owing to cheaper re-seiiers—Kenil-worth 57/3, Iskra, Springburn, and Faxsen 57/6. Parcels, Australian on passage 59/9, parcel at Liverpool ex Trevithick 57/s£. At the tallow sales 690 casks were offered and 162 sold. Prices were unchanged. AUSTRALIAN MARKETS, SYDNEY, May LL (Received May 11, 11.30 pjn.) The wholesale price of butter has been advanced a penny a pound. Oats: Algerian local feed 3/11, Tasmanian 3/10, white 4/1 to 4/2. Maize, yellow 5/3, white 5/-. Potatoes, Tasmanian £B. Onions, Victorian £7 10s. ADELAIDE, May IL Oate 3/- to 3/L NATIONAL BANK. ISSUE OF NEW (Per United Press AssociationJ WELLINGTON, May IL The shareholders of the National Bank of New Zealand were to-day informed that the Board of Directors had resolved to offer to shareholders this month 100,000 new shares of £7 10 each (£2 IQs paid up) at a premium of £2 per share. This is consequent on the resolution carried at the annual meeting increasing the authorised capital of the bank from £3,000,000 to £4,000,000 by the issue of 200,000 shares of £7 10s each. The proportion of the new issue which the shareholders are entitled to receive is one share for every four attares now held.