COMMERCIAL.

Wanganui Herald, Volume XXXXVI, Issue 13334, 24 March 1911, Page 8

COMMERCIAL.

LONDON WOOL SALES. Frees Association.—Telegraph.—Copyright. ’ • ’ Received March 24, 8.5 a.m. LONDON, March 23. At. the wool sales Tanghihran realised a top price of Old, and an average of 8 7-8 d; Kaputoue, Is 7Ad and Is 64d. Received March 24, 10.15 a.m. LONDON, March 23. At; the wool sales, there are brisk sales, firni'prices, and general competition. LONDON, March 23. ■AVaihi—£3 3s 9d to ,£3 Gs 3d. Silver—24 5-16(1. AUCKLAND SHARE AIARKET. (Per United Press Association.) AUCKLAND, March 24. Business done on ’Change this morning included: May Queen —Is lid. Rapanga (con.) —sd. Talisman—43s 9dAVaihi—6ss, 65s 6d. Grand Junction —27s 6d. Standard Insurance—2Bs 6d. Auckland Trams (ord.) —25s Gd. Wilson’s Cement (ord.) —41s. CANTERBURY RAM AND EAVE FAIR. (Per United Press Association). CHRISTCHURCH, Alarch 23. At the Canterbury ram and ewe fair there was an entry of 5640, or about 600 more than last year. There was a dull sale, especially for Border Leiccstors and Shropshiros. Half-breds and Corriedales sold in the nest proportion, as they are chiefly required for country that has not been so affected by the dry season. Alore than half of the entry was passed in. The range of prices for flock rams was:—Lincolns 2 gns to 3 J gns, English LcieeV. us 1 gn to ,4J gns, Shropshires 14 gns t. 3 gns, Eyelands one ram 10 gns. halfbrcds li gns to 41 gns, Corriedales 1 gn to 4-1 gns, Southdowns gns to 3J gns, and Southdown ewes 4 gns. DALGETY AND CO.’S REPORT. PALMERSTON N„ March 23. At onr Palmerston North sale this Ray there was a small yarding of sheep and eittle. AAe quote:— F.m. breeding ewes 9s_sd to 10s lijd, Romney rams 4 to 24 gn. heifers and calves £2- 10s, cows and calve? SA 2s 6d, 18 to 20-month heifers running with bull £3 2s. , PALMERSTON NORTH SALE. N.Z.L. AND M.A. CO.’S REPORT. PALMERSTON N., March 23. The New Zealand Loan and Mercantile Agency Co., Ltd., report as follows; At Palmerstons North on Thursday we had a fair entry of sheep and cattle. Sheep were somewhat dull of sale, but buyers were present for cattle, and a good clearance was effected. AA’c quote;— Sheep; Cull ewes 3s Id to 4s 6d. store owes 6s Id, store lambs 4s lOd, 4 and 6-tooth ewes Ids 7d, B.L. rams 18s 6d. Cattle: AAeaners (small) 16s, medium 23s to 295, store cows •£3 8s to .£3 4s, forward empty heifers .£4 11s,-he’fcrs in calf £3 10s, springing heifers £5 17s 6d. fat heifers £6 13s, springing cows £6 to £7 7s Gd. STOCK AND SHARE QUOTATIONS. Messrs Fairhnrn and Silk, sharebrokers, Wanganui, report as follows: INVESTMENT STOCK. Seders. Buyers Banks £ s a £ s a New ZeMa. d .. U5 0 National .. 6 10 INSURANCE New Zea’and ~ -15 6 South British .. 3 12 9 3 12 0 National .. 1 jg 6 1 15 0 GOAL Westport .. 1 10 0 1 9 3 Westport Stockton MINING New May Queen .. 11l 110 New cylvia 11l i jo New Saxon .. 2 4 2 3 OldHaurski Rosa Goldfields .. Tairna Golden Hills .. Talisman Cons’d .. 2 5 0 2 8 3 Waihi .. 3 5 0 3 4 6 Waihi Oons’l AVaihi G’ud .i’ot'n ..176173 The above quotations are subject to a brokerage of lj per cent., payable by both buyer and seller. The mining quotations are those ruling in Auckland to-day. - LONDON AVOOL SALES. DALGETY AND CO.’S REPORT. LONDON, February 9. The first scries of Colonial wool sales f° r thc^ current year, which opened on the 17th ultimo, was brought to a close on the 7tu jnst., the following being the totals available, offered and held over; Nett available, 198,500 bales; catalogued, 184,823 hales; hold over and withdrawn, 17.000 bales. Out of the net quantity available some 181,000 bales were sold, viz., 111.000 bales to the Home trade; 66,000 bales to tbe Continent, 4000 bales to America, leaving 17,000 to be carried for ward to next series, of which some 10,000 bales were not catalogued. During the first week of the series the sales were postponed three times on account of insufficient light. The opening decline of 5 to 10 per cent, on merinos, 5 per cent, on fine and 74 per cent, on medium and coarse crossbreds, was the result of the weaker tone which had manifested itself after the close of the December series, but buyers soon lost their hesitation when they had a definite basis of prices to work on, and after the first few days a distinct improvement was noticeable, which was maintained up to the close. This improvement was mainly apparent in greasy combing merinos, scoured descriptions being relatively neglected. In crossbreds there was some slackening in the competition towards the middle of the series, but prices stiffened aoain during the last week, and the close was very-firm. Scoured crossbreds were in small supply and sold at about last sales’ rates. As compared with closing rates of No-vember-Decemberd scries, we quote present prices; Merinos, scoured, good quality and "condition 5 per cent, lower, other descriptions 7j- to 10 per cent, lower: merinos, greasy, good quality and condition, 'unchanged ; do. other descriptions 5 per cent, lower, do. medium 74 to 10 per cent, lower, do. coarse 5 to 74 per cent, lower, do. scoured unchanged; slipcs 5 to 7\ per cent, lower, lambs par to 5 per cent, lower. The attendance throughout was good ' and competition excellent, though, as will be seen from the figures given above, the Home trade did the bulk of the buying. It is gratifying to see American buyers again in the market, though the quantity taken was not sufficient to appreciably af-

feet values. Still, it is a sign that the long-continued depression in United States wool circles is drawing to a close, though the possibilities of some revision of the tariff before very long may prevent operators from purchasing more than actual requirements. The new clip wools from New Zealand so far to hand are disappointing, as not only is the condition heavier than last year, but many of the crossbred clips from the North Island are not of their usual length',' so that buyers who must have long stapled wools cannot buy them, and this should be taken into consideration when comparing present values with those realised last season. Judging from the firm tone evident at the close of this series, and the fact that sales in Australasia will be practically over by the end of the month, so that the buying power will be mainly concentrated in London, we think there should be no difficulty in dealing with the moderate quantity likely to be available on the basis of present values, and should American buyers operate more freely than of late some improvement might be looked for.