COMMERCIAL.

Timaru Herald, Volume CVIII, Issue 16883, 2 August 1919, Page 7

COMMERCIAL.

T' ' AMERICA NEEDS WOOL.' , \ By, Electric Telegraph—Copy light. -'-' "Australian- and N.Z. Cable Assn. , '1 , ,<:•'" /„." NEW YORK, July 30. ' " Owing to the scarcity of fine American- wool on> the market, Boston wool | 'men' .urge "the importation of 50,000 bale's of fine Australian for sale by auc"tion. It is "believed that such an impor- I tation, would not materially " affect prices. '" ' ■'* CABLE SERVICE IMPROVEMENTS, Received 8.15 p.m., Aug. ,Ist.-'.-I '. LONDON-/'July 29.-; The principal 'repairs to. the cable systems have'been completed, but preiv ar .transmissions to Australia will not be resumed until the Indo-European system, travering, South Russia, is restored. The Eastern Extension Company is spending three millions on improving the system to Australia, in. view of the coining competition with wireless. >A new cable will be laid at the earliest possible data from London via Gibraltar. Malta and Singapore; and possibly another line to Austialia will be duplicated. High speed -instruments will be installed, /increasing the capacity of the existing cables." The Eastern Company hopes to be able to transmit direct from London to Adelaide, with the speediest automatic instruments. f" ' ■ THE WOOL MARKET. At the wool sales there was a moderate attendance. There i\as t-trong Continental competition. Meiinob and fine uosshreds are selling at full recent lates; low or qualities arc unchanged. The Loiigburn clip lealised top 29d, average 24d The Bradford market is quiet. Spinncis'aie little disposed to operate, and, in ices are unchanged. ' ' ,

. , NELSON BROTHERS

LONDON/ July' 29. Nelson Brothers pay an interim dividend of 8 per cent, free of tax. ; The Union Bank meeting sanctioned'' subdivisions of shares. GOVEKSQIENT BTJYS CHEESE. The Government has agreed to purchase the exportable surplus of the season's Canadian cheese, abom: 20,000 'tons at 25 f.o.h. ' GIANT ATLANTIC LITERS'. - Shipping circles are somen hat dubious ■about the commercial practicability ot -Americans proposed gigantic liners, the cost of -which would be prodigious, estimated alt at least four millions sterling each. The proniioters apparently are a svndicato unconnected with' any ftig Atlantic Co-many which, according to present informnition. unlikely to build similar colossal ship l ;.