CRUTCHING WOOL APPRAISAL

Southland Times, Issue 24527, 30 August 1941, Page 4

CRUTCHING WOOL APPRAISAL

Best Crossbred To 12d The second annual appraisal of crutching wool in Invercargill and the first wool appraisal for the 1941-42 season was completed yesterday. A catalogue of 2276 bales was offered compared with 3783 last year. The quality of the crutchings was not as good as it was last year. A fair proportion showed more seed than usual, while slain and discoloration was more pronounced. • Carefully sorted crutchings realized quite good prices. Many lots were catalogued under growers’ brands and considering that these contained first and second quality as well as a sprinkling of stains, prices realized by these lots were well up to the average. The range of prices as given by the Invercargill Stock Agents’ and Woolbrokers’ Association is as folExtra super crossbred, IOJd to 12d; super crossbred, 9Ad to good crossbred, 83d to 93d; average crossbred, 8d to 84 d; medium seedy crossbred, 7d to 78d; heavy seed crossbred, 5Jd to 63d. Clean lambs’ crutchings realized approximately Id per lb below these prices. GOVERNMENT WAR LOAN ISSUE OF DEATH DUTY STOCK In response to inquiries the Reserve Bank has supplied the following information .through the Invercargill Stock Exchange, about the issue of death duty stock in relation to the New Zealand Government War Loan of £10,000,000. Death duty stock issued in terms of the war loan prospectus is not transferable as such from person to person, but may be exchanged at any time during the currency of the loan for ordinary stock which is transferable. Death duty stock, however, will, on the death of the stockholder at any time before the maturity of the loan, be accepted at par by the Commissioner of Stamps in payment of death duties in the estate of the deceased holder.

It is considered that the offer of death duty stock should appeal to many subscribers. The payment of death duties in an estate may necessitate realization of assets under unfavourable terms. Such difficulties can be avoided by subscribing for death duty stock of the current war loan. Every £lOO of death duty stock subscribed for will be accepted in payment of an equivalent amount of death duties. All that is necessary is for the subscribers to show on the form of application that he or she requires the security to be issued in the form of death duty stock. On his or her death the executors in the estate may execute a transfer of the stock in favour of the Commissioner of Stamps who will accept such stock at par value in payment of death duties.