WOOL SALES

Timaru Herald, Volume CXLV, Issue 21186, 5 November 1938, Page 21

WOOL SALES

Roster for Season Offerings Regulated By Telegraph—Press Association WELLINGTON, November 4. In April last the New Zealand Woo! Committee convened a conference which was held in Christchurch to discuss the greater spread of wool sales for the 1938-39 roster. At this conference, which was attended by members of the New Zealand Wool Committee and representatives of woolgrowers, woolbrokers and woolbuyers, recommendations were agreed on with a view to improving the wool selling conditions in New Zealand. These were in the direction of providing that, where practicable, not more than 24.000 bales be catalogued at one centre, the roster to be extended as required. These proposals were supported by the International Wool Conference held in London in June, and at a meeting to-day of the New Zealand Wool Committee, which comprises representatives of producers, woolbrokers and woolbuyers, gave consideration to regulations the offerings of wool at sales to be held throughout the Dominion during the forthcoming season. The maximum aggregate quantities of wool which may be offered were fixed as follows:

FOREIGN EXCHANGES. United Press Association—By Ei-etrlc Telegraph—Copyright LONDON, November 3. Foreign exchange quotations—Dollar, 4.755 to the pound; franc, 178 11-16 to the pound; guilder, 872 J fo the pound. BRADFORD TOPS United Press Association—By Electric Telegraph Copyright LONDON, November 3. Bradford tops quotations—Merinos: 70's 27d, 64’s 26d, 60’s 25d. Crossbreds: 58 s 22d, 56’s 19ad, 50’s 17d, 46's 16d (nominal), 44*s 16d (nominal). Business is small, topmakers granting concessions, but with delivery instructions increasing the outlook is more optimistic. MOLYNEUX GOLD DREDGING COY., LTD. United Press Association—By Electric Telegraph—Copyright The fourth annual general meeting of the shareholders of Molyneaux Gold Dredging Co., Ltd., was held in London on October 18. The directors in their report for the year ended March 31 state that the authorised capital is £250,000 in 2,500,000 shares of 2/each. Of these 2,110,000 shares have been issued, the whole of which are fully paid. The option on the balance 390,000 shares expired on May 8 but this has been renewed until December 31st. Dredging operations commenced on May 8, 1937, and for the 11 months to March 31 of this year, 1881 ounces of gold were recovered. After deducting depreciation £5149/14/5 the net loss for the year was £7641/11/8. SHARLAND AND CO., LTD. The directors of Sharland and Co. Ltd., chemists, Wellington, in their fortieth annual report for the period ended August 31, state that after providing for bad and doubtful debts, land and income tax, depreciation and careful valuation of stocks there remains a balance of £12,445/13/5 made up as follows.—Profit for the year £11,670/6/10, balance brought forward £B9OO/6/7, a total of £20,570/13/5 less provision for land and income tax, £5OOO and interim dividend of 2i percent, paid in May, £3125. It is proposed to pay a final dividend at the rate of 5 per cent per annum which will absorb £3125 and to carry forward £9,320/13/9. The dividend rate is unchanged from that of the previous year.

1938 Bales. Nov. 26—Auckland .. 24,000 Dec. 2—Napier .. 24,000 Dec. 7—Wellington . .. 24,000 Dec. 12—Christchurch .. . .. 24,000 Dec. 16—Timaru . .. 24,000 Dec. 20—Dunedin . .. 24,000 1939 Jan. 9—Wellington ... 24 000 Jan. 14—Napier .. 24,000 Jan. 19—Wanganui . .. 24,000 Jan. 24—Auckland .. 24,000 Jan. 30—Christchurch .. . .. 24,000 Feb. 3—Invercargill .. . .. 24 000 Feb. 8—Dunedin . .. 24.000 Feb. 15—Wellington . .. 24,000 Feb. 20—Napier ... 24 000 Feb. 24—Wanganui . .. 24,000 Mar. 3 —Christchurch .. . . .. 24.000 Mar. 7—Timaru ... No Im. Mar. 11—Invercargill .. .. ... No Im. Mar. 16—Dunedin . .. 24 000 Mar. 23—Wellington .. . .. 24 000 Mar. 27—Auckland .. 24,000 Mar. 30—Wanganui . .. 24,000 Apr. 3—Napier . .. 24,000 Apr. 14—Christchurch .. . .. 24,000 Apr. 19—Dunedin . .. 24,000 Apr. 24—Wellington . .. 24,000