COMMERCIAL.

Timaru Herald, Volume CXXV, Issue 18541, 11 April 1930, Page 11

COMMERCIAL.

LONDON WOOL MARKET. DALGETY’S REPORT. : (United Press Association —By Electrio Telegraph—Copyright.) LONDON, April 9. The wool sales closed very firm. Competition was general and active, [ and the market closed at the highest ■ point. As compared with closing rates of last series, greasy Merino was id to 2d lower; scoured Merino and greasy half bred id to Id lower; greasy fine 1 crossbred 2d to Id lower; greasy med- ' ium and coarse crossbred id lower; scoured crossbred id to Id lower; slipe halfbred Id to lid lower; other sorts slipe id to Id lower; greasy lambs crossbred par to id lower. The total offered was 141,395 bales. Th(e Continent bought 63,0100 bales, Home trade 59,000 bales, America 2000 bales. The carry forward was 61,000 bales, of which 53,000 were not offered. Th» total sold was 124,000 bales. LONDON WOOL SALE. (United Press Association—By Electrio Tel egraph—Copy right.) LONDON, April 9. At the wool sales, 7459 bales were offered, including 1075 New Zealand and 605 bales of re-conditioned New Zealand wool. Approximately 2970 bales were sold. New Zealand greasy crossbred; Titi, top lid, average lOid; Burnt Hill lOid to KHd. The sales closed strongly, with the highest prices of the series. Merinos experienced increasing competition from the Continent as the series proceeded. All the finer sorts of combings were fully 5 per cent, above the opening values. Shabby and inferior carbonising sorts were in strong request at 5 to 10 per cent, advance. Scoureds met with a strong market, which closed Id to 2d above the February closing prices. Crossbreds, both greasy and scoured, fully recovered the opening decline, and at the close were equal to the best February rates. Slipes also recovered, but not to quite the same extent. Lambs and merinos were about 5 per cent, and crossbreds about 10 per cent, above the opening rates Review of the Outlook. The totals sold were: Home trade 58,000, Continent 63,000, United States 3000, held over 61,000. It is estimated that the total Australian sold was 56,000, and New Zealand 38,000. Messrs H. Dawson and Sons, commenting on the outlook, state that the outstanding feature was the all-round indication of an improving demand for merinos. Wool arriving from Australia and South Africa were rapidly | absorbed. The position of supplies of fine wools is assuming a new perspective. The much-feared bogey of excessive stocks is not likely to cause any severe fright. It is now evident that the Australian market will be well cleared before the new clip can be available. This fact alone has done something to restore confidence. Altogether there is a much improved demand, and a good latter half of the year is generally expected. Unfortunately the improvement in the market is overshadowed temporarily by the threatened stoppage in Yorkshire. AUSTRALIAN MARKETS. (United Press Association—By Electric Tel egraph—Copyright.) (Received April 10, 8.30 p.m.) • SYDNEY, April 10. : Wheat, in bulk, 4/10; bagged 4/11. i Flour, £11; pollard £7 15s, bran £7 : 10s. ■ Potatoes —Tasmanian £l2, Victorian • £lO. : Onions—Spanish £5. • Oats, white 3/9, Algerian 4/-. | ■ Maize, yellow 7/-; white 6/9. THE SHARE MARKET. By Telegraph—Press* Association. ■ AUCKLAND, April 10. | Sales on ’Change.—lnscribed stock : (1938) 4i per cent. £97 12s 6d; ditto i (1939) 41 £97 12s 6d; Commercial Bank ■ of Australia 22/1* (2); E.S. and A. ■ Bank, £6 17s 6d, (2); National Bank : of New Zealand £6 ss; Bank of New ■ Zealand 59/-, (2); South British In- ■ surance, 62/-; Wellington Investment : Trust, 11/-; Auckland Gas 23/7, (2); : Northern Steamship, 14/-; New Zeai land Breweries 51/6; British Tobacco : 40/6, (2). j WELLINGTON, April 10. | Sales reported—N.Z. Breweries : shares £2 11s, (2); National Bank of : N.Z., £6 ss, £6 5s 6d; Bank of N.S.W., : £39 7s 6d (Sydney register). \ CHRISTCHURCH STOCK : EXCHANGE. : (Special to the “Herald.”) : CHRISTCHURCH, April 10. ■ Quotations on the Stock Exchange r. this afternoon were as follows: —

THE DAY’S BUSINESS. Sales on ’Change,—New Zealand Breweries, 51/- (2), 51/9; British Tobacco, 40/3 (3); New Zealand Government, 5i per cent inscribed, 1936, £99/7/6. Sales Reported. —Commercial Bank of Australia, 21/10, 21/11; Bank of New Zealand, 59/6; Dalgety and Co., £ll/7/-; Goldsbrough Mort, 31/6; New Zealand Breweries (late sale 9th), 51/-; New Zealand Breweries, 51/-, 52/-; White Star Brewery, 14/6; British Tobacco, 40/3. DAIRY PRODUCE. DALGETY'S REPORT. LONDON, April 9. Butter.—Market demoralised; finest New Zealand 120/- to 122/-. Cheese —Very poor demand; New Zealand white 70/- to 71/-, coloured 72/- to 73/-. WOOL SALES CLOSE FIRM. A cablegram received by the Bank of New Zealand from London, under date April 9, states:— “The sales have closed firm for all wools. There was an active demand from all branches of the trade. Compared with the opening of the sales, medium and coarse crossbreds were i-d higher. Current quotations—Merino, super 12d to 13Sd lb; ordinary lOid to 115 d; inferior 9d to lOd; haifbred 12d to 13d; crossbred fine lOid to llld; coarse 9ld to lOd; medium 93d to lOid. FAT STOCK PRICES. Last week a decrease of a farthing in fat stock prices, compared with those of the previous week, was announced, and this week a further de- , cline of a farthing is scheduled. ■ Prime grade lambs up to 361 b will be quoted at 7d, and wethers up to 481 b at 5 l-Bd. Ewes up to 481 b will be scheduled at 3 l-8d per lb.

Buyers. Sellers. £ s. d. £ s. d. N.Z. Govt. Debentures— 51 p.c. Inscr., 1933 99 7 6 — 5 i p.c. Bonds, 1933 99 7 6 — 5i p.c. Inscr., 1936 99 7 6 — 5* p.c. Bonds, 1936 99 7 6 Other Debentures— N.Z. Refrigerating 6k p.c. 1935 .... — 98 0 0 Fullers’ Pictures 6i p.c., 1949 .. — 99 0 0 Gisborne Sheepfarmers’ Ik p.c. 1931 98 0 0 Banks— Adelaide 7 5 6 7 10 6 Aust. of Commerce 1 4 10 1 5 2 Australasia .. .. 12 5 0 — Comm, of Aust. .. 1 1 1 1 2 0 Comm, of Sydney . — 21 5 0 E., S. and A 6 14 0 6 17 6 Natl, of New Zealand 6 2 6 — National of A’asia (£5 paid) .. .. 7 9 0 7 11 0 New South Wales . 39 5 0 59 15 0 New Zealand {cum div.) 2 19 3 2 19 8 Union of Aust. 11 18 0 12 0 0 Insurance — A.P.A 0 5 6 — National • 0 14 8 — New Zealand .. .. 2 4 5 Loan and AgencyDalgety & Co 11 5 0 11 8 6 Goldsbrough Mort 1 10 3 1 11 5 National Mortgage 3 0 0 — United Building Society 0 14 1 0 14 6 Shipping — Huddart Parker (pref) — 0 19 9 Huddart Parker (ord) 1 17 0 — P. and O. Deferred Stock .. 2 9 0 2 15 0 [.Union (pref) .. .. 1 0 0 —

Frozen Meat—Canterbury (pref) 3 L5 0 — N.Z. Refrigerating (10/- paid) .. 0 4 9 0 5 2 Wellington 0 8 6 Woollens— Kaiapoi (17/- pd.) 0 LI 0 Do. (7/- paid) 0 3 7 Do. (pref.) .. .. 0 14 0 Coal — Qrey Valley .. .. 1 4 0 1 7 0 Gas— Auckland .. .. .. 1 3 4 1 3 9 Christchurch .. .. 1 6 3 Do. (10/- paid) .. / 12 8 0 13 1 Timaru — 1 4 0 Breweries— Carlton — 1 16 9 Monteiths — 0 19 9 New Zealand .. .. 2 11 9 2 12 6 Queensland .. .. — 1 6 3 Staples 2 8 0 2 10 3 Timaru — 0 15 0 Do. (5/- paid) — 0 7 0 Tooheys 1 2 0 — Tooths — 1 15 3 White Star .. .. 0 14 0 0 15 9 Miscellaneous — Amalgamated Wireless (contr) 1 1 0 1 4 0 Beath & Co. (1/paid) 0 6 6 0 7 0 British Tobacco .. 2 0 3 2 0 6 Broken Hill Propty. 1 2 3 1 3 0 Booth, Macdonald (pref.) ., .. .. 0 3 1 0 3 9 Colonial Sugar .. — 43 0 0 East African Coffee i 5 0 — Electro Zinc (ord) — 1 7 6 Do. (pref.) 1 7 6 1 8 0 Mason struthers (£1 paid) .. .. — 0 14 3 Mt. Lyeli 1 14 4 1 14 7 N.Z. F a r m e r s’ Co.-op. (1st pref) 0 1 6 Do. (B pref) .... — 2 10 0 Do. (6& p.c. Stock, 1939) — 91 0 0 Do. (64 p.c. Stock, 1940) — 89 0 0 N.Z. Paper Mills .. — 1 0 3 North Canterbury Co.-op. Flour .. 0 ii 3 —-** Victoria Nyanza Sugar 1 18 7 i 19 4 Wilson’s Cement .. 1 18 0 1 19 3 Mining— Alexander — 0 16 6 Mahakipawa . . . — 0 0 Stoney Creek (6d paid) 0 0 0 0 10 Winding Creek (1/paid) 0 0 7 0 1 3 Do. (6d paid) .. .. 0 0 3 0 0 Cornish Point (1/paid) 0 0 14 0 0 9 Do. (9d paid) .... 0 0 1