COMMERCIAL

Timaru Herald, Volume CXLI, Issue 20334, 5 February 1936, Page 7

COMMERCIAL

SYDNEY STOCK EXCHANGE United Press Association—Bn Electric Telegraph—Copyright (Received February 4, 10.30 p.m.) SYDNEY, February 4. The Stock Exc' ange was buoyant to-day with a heavy and widely distributed turnover. Sales:— Bank of New South Wales, £35; Conmercial Ban 1 ' of Sydney, £2O/12/-; Commercial Bank of Australia, 19/S; Queensland National Bank, £5/16/-; Bank of New Zealand, for New Zealand delivery, £4B/6; Bank of Australasia. £12.2/6; United Insurance, £ll/16/-; £.l/16/-; Colonial Sugar, £43/5/8; Associated News, 22/9; Associated News ipref.), 23/3; Huddart Parker, 40,6; Australian Gas (A), £B/2/-; Tooths, 53/-; Tooheys, 30/6; Carlton Brewery, 55 -; Melbourne Co-operative Brewerv, 46/9; G< J. Coles, 74/3; W. R. Carpenter, 43/-; Australian Glass, 88/-: Dunlop Perdriau, 16/14; Winchcombe Cars-in, 32/6; Wilcox Mofflin, 11/8; Farmers, 28/-; Anthony Hordern, 21'4; Anthony Hordern (pref.), 25/3; Lustre, 26/6; Hume Pipe. 17/-; Wunderli-h, 23/3; Warburton Franks, 19/3; W. H. Soul, 74/-; Hackshalis, 17/9; General Industries, 21/3; South Broken Hill, £5/13/-; North Broken Hill, £7/13/-; Zinc Corporation, 73/-; Emperor, 13/2; Loloma, 23/9; Mt. Kasi, 13/3; Commonwealth Bonds (all 4 per cent): 1938, £lO2/2/6; 1941, £lO2/15/-; 1944. 104 15/-; 1947, £lO5/2/6; 1950 £lO5/2'6; 1953, £lO4/12/6; 1955, £lO4/12/6; 1959, £lO5/5/-; 1961. £lO6/10/-. Melbourne Sales: Commercial Bank of Australia, 19/7; Australian Cement. 30/-; British Tobacco, 42/3; Herald and Times, 67/-; Hume Pipe, 16/6; Menzies

Hotel, 15/-; Ye l low Express, 5/7; Myers, 32/6; Electrolytic Zinc, 36/-; Mt. Lyell, 23/9; Emperor, 13/7; Loloma, 24/9; Enterprise, 70/-. SYNTHETIC WOOL Details of the new synthetic wool invented by Commendatore A. Ferretti of Milan and made from casein have been received by the Hon. D. G. Sullivan, Minister in charge of the Scientific and Industrial Research Department. Mr Sullivan said the inventor had aimed at obtaining as nearly as possible the same elementary composition for synthetic wool (lanital fibre) as for sheep wool and the content of carbon hydrogen, oxygen and nitrogen very closely approximated. There was, however, less sulphur in the synthetic wool and he understood this was a factor which was of importance in relation to the elasticity of the material. The inventor claims that by the middle of June the factory will be producing 60,0001 b. a day. The base of synthetic wool is casein and the same machinery is used as for the production of rayon except that the machines for chemical preparation of the paste have been built separately. The inventor claims that the present cost of synthetic wool is 40 per cent, less than that of the best Australian wool. In a report on the wool by Bradford Technical College, Professor Midgely states that in sulphuric acid the fibre swells in a similar manner to wool and. when dyed with acid, colours the fibre takes up more colour than wool of similar quality. It does not appear to possess the natural waviness or crimpiness present in wool, although it can be produced in any length of staple or diameter of fibre.

TEMUKA STOCK SALE FAT LAMBS FIRM There was a good all round yarding at the Temuka sale held yesterday. The attendance was good and taking all sections into consideration the sale was a very satisfactory one. % Fat cattle.—The offering of more than 150 head was the largest for some time. The sale was back about 15/- a head on the previous market, but in one or two cases sales were made at rates fully the equal of the last market at Temuka. The range was —Fat cows (best) £4/2/6 to £5/12''6, medium £2/12/6 to £3/12/6, light 30/to £2/7/6. Heifers (best) £5 to £6/7/6, medium £3/2/6 to £4/2/6; vealers to 30/-; runners to £2/12/-. Store cattle.—The bulk of the store entry was made up of bulls and empty cows which sold at current rates. Sales were:—Bulls 37/6 to £3/2/6, empty cows 12/6 to £2/2/6, two-year-steers (medium) to £2/15/-. Dairy cattle.—About 15 head came forward, most of which were sold at auction, values showing little change. Sales were: Cows in profit 37/6 to £5, springing heifers to £3/5/-, springing cows to £4. Pigs.—The yarding was a medium one, with weaners showing a decline of 2/- a head. The range was: Weaners 8/- to 12/-, slips 14/- to 17/-, stores 16/- to 21/-, light porkers 28/6 to 35/-, sows in pig 25/- to 30/-. Fat lambs.—The entry of 900 head met with keen competition, all lots being sold at auction at prices very satisfactory to vendors. Sales made were: Fat lambs, best 23/6 to 24/9, medium 21/6 to 22/7, light 20/- to 20/10.

Store sheep—No change in store sheep values can be reported, 2-tooth wethers, 2-tooth ewes and store lambs all selling at late rates. Sales were: Medium rape lambs 16/- to 17/3, small wether lambs 14/6, ii-bred ewe lambs (medium) 17/9 to 18/-, 2-tooth wethers 16/4, rape ewes 3/10 to 5/-, 2-tooth ewes 26/6 to 29/6. WORLD HIDE MARKET Reviewing the world hide market under date December 12, W. Waddell and Co. Ltd., London, state that a fair amount of business is going on from day to day, but North American buyers are doing most of it. It was thought that Europe would play a much bigger part by this time but the return of confidence has been slow owing to the rather flat situation created by the domestic hide market, which for the most part has not yet gained ground. Nevertheless it can be taken for granted that if North and South America continue to peg up prices day by day the European domestic hide market will became more settled and probably firmer. It is said that in no country is there any large supply of hides on hand so this must be taken as a bull point for the future of the hide market as a whole. The leather situation is quite steady and tanners are not showing any anxiety regarding the future as they seem convinced that a better market is on the way. MARTHA (WAIHI) RETURN The following information has been cabled to the London office of the Martha Gold Mining Company (Waihi)

Ltd., for the period ended January 18: Comprising 11 crushing days 8982 tons of ore were crushed for a result of 2328 fine ounces of gold and 6428 fine ounces of silver. This includes 903 tons mined from the Grand Junction area which yielded 229 ounces of gold and 1286 ounces of silver. No. 2 level north-west prospecting cross cut is in 210 feet. There is nothing material to report. No. 7 level. On vein at 165 feet north in cross cut at 200 feet west. Further driving west is suspended as the reef is split and the assay value is low. North-west cross cut junction. No. 7 level at a point 490 feet east of No. 1 shaft south-east cross cut. We have commenced a cross cut 60 to 75 east. There is a reef formation assaying 12/6 a ton including three quartz stringers. BRITISH DAIRYING With reference to the sixtieth anniversary of the London Dairy Show the “Daily Telegraph” says its practical value has never L~en so great as in 1935. Dairy farming is now, by far the most important part of agricultural industry in Britain. Two hundred and fifty thousand people are dependent on it for a living and its output is worth £50,000,000. Since 1931 British cows have increased by 250,000, and its dairy cattle number 3,000,000. Since 1933 when the Milk Marketing Board was established milk production has increased by 12.000,000 gallons a month. This record quantity is due, in part to the other troubles of the Department of Agriculture. Farmers have been induced to turn from beef to milk. But a large proportion of dairy farmers are, thanks to the work of the Board, better off and with better prospects than for some time past.