COMMERCIAL

Timaru Herald, Volume XIIC, Issue 13804, 15 January 1909, Page 5

COMMERCIAL

Press Association-By Telegraph-Copvoght LONDON, Jan. *l3. The Union Bank lias declared a dividend of 10 per cent, and a bonus 0f..2 per cent. Tlie sum of £'10.0(10 has been written oil' the colonial promises account, £20,000 lias been added to the reserve, and £27,000 iias been carried forward.

The Antwerp wool sales opened with good competition on English and German account. Prices improved from five to 10 centimes for _ merinos and ten centimes for crossbreds. Two thousand and fifty bales of La Plata wool were offered and 1392 sold, while a further 250 were sold after the sales.

-■ At the tallow auction, 875 casks were offered irnd 450 sold; mutton, fine, 38s 9d per cwt; medium, 30s 6d; beef, fine, 32s 3d per cwt: medium, 30s. Tiie American visible supply of wheit is 83,583,000 bushels. CHRISTCHURCH WOOL SALE. A GOOD DEMAND. Per Press Association.

CHRISTCHURCH, Jan. 14. The third of the current season's series of wool sales was held to-day. The colonial, Home, Continental, and American firms were fully represented. There were many complaints of the wool being wasty and dirty, and in many cases clips did not compare favourably with tile wool offered at the corresponding sale last year, or to that held in December. This is attributed mainly' to the sheep having been grazed on turnips last winter for a longer period than usual. The sale opened with an exceptionally good demand ' and keen competition, the strongest demand being for .medium to good halfbred and crossbreds. There was not a large quantity of superior •wools offerefl, and for this description prices were hardly equal to those obtained at the last Christchurch sales, the decline in value equalling about Jd per lb. Owing to the American demand medium wools sold well up to recent quotations, and if there was any alteration in values it was in favour of growers. For'pieces there was an ex--' ceptionally animated demand, and the prices obtained constituted a record for the season. During the early part of the sale English buyers wore not ro keen- as' previous]}-, and Continental buyers took a good proportion of the wciol sold, local factories also taking a considerable quantity. The passings, as at the December sale, were comparatively light. ; The following was the range of prices :—Merino super, lOd to 12.1 d ; medium to good, Sd to 93d;' inferior, 7-Jd to 73 d.; halfbred super,-9Jd to lid; medium to good, 8d to 9d; inferior, 5Jd to 73 d; three-quarterbred super, Bid to 10.VI; medium to good, 7d to 8d; inferior, | aid .to 6Jd; crossbred, medium to good, fljd to 8-Jd; inferior, 4d to s. id; long wool, medium to good, Gd to 7d; inferior S.'.d to 53d; Down wool, inferior. 7-Jd; Corriednlo, 73d to lOgd; Shropshire, 7'd to pieces, merino, 5.kl to 9Jd; three-quarterbred, to 6'd ; halfbred, Ski to 10d ; crossbred, 3id to 6d; locks, 2Jd to fi-Jd; bellies, 3 : ? dto 8d; crutchings, 3'd to 7-id.

Dalgety and Co. report under date London', January 13th: —"Since our last telegram prices of tallow are unchanged. There is more, disposition to do business at the recent decline." Mr H.' H. "Webb lias received tlie following cable message from tlie London office of the .Colonial Consignment and Distributing Company:—The demand for "air classes of frozen meat is very weak. The value of lamb has declined ',d. ' To-day's oubt'ations are:—Qanterburv mutlon; 3-Td ; North Island, 32 d: lamb; first oiiality. '• f sd: second quality, 4 ; yd; beef, hindquarters, 3§d; forequarr ters, 3d.