COMMERCIAL.

Star (Christchurch), Issue 16423, 11 May 1921, Page 8

COMMERCIAL.

TEXTILE PRICES HARDENING. A Christchurch, firm of urapery importer? received this morning the fo.lowintj cablegram from London concerning woollen and cotton piece goods:— Every indication markets now at lowest. and Bradford prices distinctly hardening.” AUSTRALIAN WOOL REGULATIONS. MORE YORKSHIRE CRITICISM. By Telegraph—Press Association—Copyright Austra’inn and Y.Z. Cable Association. (Received May 11, 9.45 turn.) May 10. The Bradford “Observer” Bays:— The • bore cabled out'ino of the Australian wool scheme suggests that it is fairly harmless, but foreshadows extensive bureaucratic interference with the free play of commerce. The scheme rests upon the fallacy that :t is possible for the A astralian Government to dictate to the world tho prices for woo!, irrespective of values, m cornpetiuq- market- “ Apparently Mr Hughes s fear of the oonseouencea of a gieut atcum lation >f lower grade wools ve-y largely influenced the ieo-islative coercion of growers. but the Government cannot compel a single user lo buv. Bole users will exercise preference as before, ami if prices are arbitrary con sinners will naturally prefer to superior able, ’e«pec'ally there is plenty of free woo l of low oualitv in other parts of the ! wor’d. such as South America. There :s a grea’ probability, therefore, th-1 the sedl---nt of low wools, instead of diminishing will tend to -row. Mr Hughes’s mountain of wool trembling on the edge of a precipice will assume more fearsome dimensions th«n ever. " weak point about the control scheme in that i‘ ends at the Australian coast. It is well-intentioned, hvt will benefit some growers "t the expense of others, and it is unfor 4 unate that its disturbing influence :s exert'd iuFt at the moment- when there are notable signp throughout the wor’d of n reawakening of th° wool trade, which, if allowed to develop, would probablv have shown the | Australian scheme to be unnecessary.'’ B.A.W.F.A. WOOL SALES. By Telegraph—Press Association—Copvr ght Austrst’an and N.Z. Cable Aa*ociatio**. (Received May 11. 1.50 p.m.) LOVDON. May 10. j At 4 he B.A.W.R.A. wool sale tho best competition so f-ar, has been experienced. Values a l round are distinctly harder and less irregular. The Continent is operating very freely, especially in broken ard pieces, which show tho greatest appreciation. Yorkshire is more active than last week. Low cross-bred* are fully firm. Slipes were mostly withdrawn. The reserves were too high. SYDNEY WOOL SALES. B> Telegraph Pres* Association—Copyriftfc' J Australian and N.Z. Cable Association. (Received May 11, 11.15 a.rn.) SYDNEY. May 11. ! All day wool sales are fixed for Thursday, practically covering the offerings which usually occupy three days. DOMINION WOOL. TPer Press Association.! WELLINGTON, May 11. At a meeting of the Producers’ Committee ! to-day, the following resolution was passed: i ” That after full consideration of the pro--1 pofvals submitted by iiritisih and Australian Wool Realisation Association, through Mr A. ff. Mabic, this committee is of ooir.ion that the interests of New Zealand producers demand the retention of a selfrs iant scheme whereby, while co-operating with B.A.W.R.A. as regards tho fixation of j a , minimum reserve and limitation of offer- ( ings, full control of all matters concerning • the handling o£ the wool clip must bo retained in New Zealand."

STOCK EXCHANGES. CHRISTCHURCH. The following axa the latest quoaations: Buyers. Seller* £ ». d. £ ». d

OTHER EXCHANGES. fPsR Press Asi-vivri 1 DUNEDIN, May 11. Sales on ’Change—Mount Lyell, 14s (two), 13s lid; New Zealand Paper Mill, 20b 6d.

DEBENTURESN.Z. Government 4$ per cent Inscribed. 1333 .... 81 15 0 N.Z. Government 4i 1933 .... N.Z. Government 5 81 15 0 per oent Bonds, 1927 .... N.Z. Government 65 89 10 0 *>er cent Inscribed, 1933 .... N.Z. Government 5$ 89 10 per cent Bond*, 1933 . 89 5 0 89 10 f> BANKS — 0 New Zealand 2 6 0 Union of Australia- . LOAN AND AGENCY— 11 15 0 12 0 0 Dalgety and Co. (cum div.) Goldsbrongh Mort. 10 15 0 (Melbourne) . 1 10 0 National Mortgage National Mortgage 0 3 G (London Register) . 3 2 0 SHIPPING— Adelaide Steamship . FH< >ZEN MEAT— 0 IS 0 N.Z. Refrigerating <£'l paid) .... N.Z. Refrigerating (IO3 1 6 9 paid) . . . North Canterbury 0 1G 0 Fre©z ; ng 3 0 0 WOOLLENS— I'.aiano’ 10a paid) . 0 1C 0 BREWERIES— Crown .... 1 13 0 Ward .... MISCELLANEOUS— 1 0 0 1 2 3 Beath and Co. Eclipse Petrol (20s 1 4 0 Henry Jones Co-op. 0 15 0 (Melbourne) Mason, Struthers (£1 1 12 C paid) .... Mason, 'Struthers (63 1 5 0 paid) .... 0 6 0 MINING— Mount Lyell . • 0 14 8 Talisman Wnihi Grand June0 5 30 0 9 0 Sale reported—Whitcomb© Tombs £2 10a.