THE WOOL CLIP.

Press, Volume LXIII, Issue 19156, 12 November 1927, Page 14

THE WOOL CLIP.

FIRST SALE ON MONDAY. GOOD PRICES ANTICIPATED. v f [THE PF.ESS Special Service.] C WELLINGTON, November 11. The wool-selling season in New Zealand will open with the sale at Wellington on Monday, when a total of 9021 bales will be offered. At the corresponding sale last year the offering totalled 11,029 bales. The small catalogue for Monday is due to the unfavourable weather delaying shearing and transport of clips. The past winter was a comparatively mild one, and the cheep came through splendidly, consequently the fleece is well grown and sound and heavier. In point of fact, the Dominion will this season market a elip better in every way than that of the past season, and a good clip will always sell well. There will be a very full attendance of buyers, many of whom arrived from overseas during the past fortnight. It Js expected that a few new buyers will be on the benches, and the competition is expected to be keen from the offering

Of the first lot. The Values Expected. Prices at consuming centres are about B penny abovo the highest prices reached in New Zealand during last season, consequently at Monday's sale prices ehould reflect this improvement, and perhaps a little more. Compared with the November sale of last year prices should be pence higher. The Lest prices last season were obtained at the March*salc, and prices this season arc expected to exceed those. It is to be hoped that grower-; will not get a false notion of the situation, and fix reserves that cannot bo reached. It seems that the market will be high enough to warrant the acceptance of the highest bid for each lot. At the November sale last year and March sale this year the middle prices for average quality wool tvere as under:—

At tlio November sale the averagi Ser bale -was £l6 9s 9sd, and at tin [arch sale £l9 18s BJd, or 11.357( and 12.793 d per lb respectively. Tin advance expected on Monday is oi the March prices. The average pei bale for all the wool sold in Wellingtoi last season was £lB 5s B£d, and tin average per lb 12.287 d. Position Overseas. Messrs H. Dawson and Co., in thei; wool circular dated London, Septembei 29th, referring to the September sale! in London, stated that the series hac been remarkable for strong competitioi from all centres, closing with hardening prices at the highest point reached sine* October, 1926.. The advance in cross breds has been accentuated by tin ■canty offering in grcasies. Mediun erossbreds are now some 25 per cent higher than last December, and are ii a strong statistical position at- consum ing centres. The condition of the in dustry, states tho firm, does not war rant the almost over-confident feelinj indicated by the prices paid for wool ir London. With respect to the Unitec States, quite contrary to general condi tlons, there is no boom in the textile trades. The volume of manufacturing las been slowly but steadily improving over tho laßt few months, and consumption of wool and cotton has shown good increases. Stocks of wool are rapidly decreasing, and there is little sign of importation on the part of dealers, Germany, it is reported, has its production sold up well into next year, and is passing large business in semi-manu-factures to France. The large loans received mainly from U.S.A. have stimulated general business activity in Germany, while the outlook is very good. It must not be forgotten that at the manufacturing end many difficult problems confront users. BANK OF NEW ZEALAND. DIVIDENDS DECLARED. [THE PBJ3BS Special Service.] WELLINGTON, November 11. The directors of the Bank of New Zealand have declared the following interim dividends to proprietors who are on the register at November 11th, 1927:To ordinary shareholders, Is 4d per •hare. Preference A shares (held by his Majesty the King), £50,000. Preference B shares (also held by the King). £41,666 13s 4d. A dividend of 6 per cent, to September 30th, 1927, will be paid on O long term mortgage shares (held by his Majesty the King). A dividend of 7J per 'cent, to September 80th, 1927, will be paid on D long term mortgage shares. The dividends will be payable on Peeember 3rd. Mr Alex JoKson, of Sydney, has been appointed a local director of the Bank of New Zealand in that city. RURAL CREDIT BONDS. [TBS PBEBB Special Service.] WELLINGTON, November 11. With a Government conversion loan to close on Tuesday next, the issue of the first sej-ies of bonds, under the Rural Credits scheme has been Etill further delayed. However, Mr R. Hayes, Secretary to the Treasury, announced to-day that early action is now imperative if the bonds are to be marketed before Christmas, and that, as the time is favourable, action will be taken immediately after the conversion loan is out of the way. NEW COMPANIES. Ths Mercantile Gazette records the registration of the following new companies:— Car Maintenance, Ltd., registered as a private company, November 2nd, 1927. Office, 250-2 Durham street, Christchurch. Capital! *SOO into 500 shares of £1 each. Subt- G " Tonkß 499 ' R - J - Ton k» 1. ILU° rt &Ju. nter J" ,r7 Gua "»"°e Corporation, . V R **' I 'ered a* a private company. No High street Sangt *l «a,h "-S 00 into 2000 sh «es of 475 OR 6 « b «">be«: Rangiora-C. Taylor Obi«t.^T o «£. U - £ £--.;*« ""ft on Dn »'»e«s of mortgage, loan, and financial company In all branchTs.

.November, Mnrcl 1026. 1927. d. d. Merino .. 18£ 20 Halfbred, 515/58 .. 19 18} Halfbred, 50/56 .. 13 J 174 Halfbred, 48/50 .. m 15 £ Crossbred, 46/48 .. 12:} 14* Crossbred, 44/46 .. m 13J Crossbred, 40/44 .. 10} 12i Crossbred, 36/40 .. 10J llj