FINANCE AND COMMERCE.

Press, Volume LXVII, Issue 20177, 4 March 1931, Page 10

FINANCE AND COMMERCE.

WOOL SALE. YESTERDAY'S CHRISTCHURCH AUCTION. A KEEN DEMAND. ADVANCE OF 2d TO 3d ON JANUARY SALE. Tlie expectation of an advance in * wool prices at yesterday's wool sale, . which was held in the Caledonian Hall, »mi pleasantly realised. At the Janu-

'- ary g»ii» the bottom of the market for this season was touched. Immediately f .after that sale the tone overseas commenced to improve, and a steady, if small, advance has taled at most of - the auctions since then. An increase „•{ up to 2d on the January prices was '■* aot unexpected by many, in the trade, u bat this forecast was exceeded, the ' improvement averaging from 2d np to The firming has been remarkably I rapid, in the opinion of acme buyers, to be maintained. How«rer, few people now have the temerity \ t» forecast the future of wool values * sad the foregoing opinion is qualified t fiy-jnray as far &#'the immediate future * Si ooncerned, whatever may happen later .* #b. all events the market was an $ agreeable antidote to the drab sale of * ahaep at the Amberley Fair the precediag 'day, and it may have a healthy k reflection on the Hawarden Fair to-f'TJ-1 RiSf" -i . f e wnw, 'Hie eatalogne comprised 13,121 bales, rteSfer' iNftek country clips. More merino | ' incinded than at previous auctions season. The- wool was, to some ~ oxtent, dost stained on a'eoount of the I * gor'-wfßiters in the earlier part of "- flif< «eaabn, '4OS on the whole, it was MUreely' up to" average quality catalogued at this period .of the year. The / altoeation {or the sale was 02,000 bales, ' ~t but the and .M.A.. Co. u. 1,117 : an4; Agency S ;iV' W;' ( f -» f *' -

The principal sales were as folloiv.—Te Awatea—Six bales combs, 6Sd. P.P. —Nine bales three-quarterbred, 6ld; 5 bales three-quarterbred, 6id. F.GJI. —Eleven bales Oorriedale ewe, B}d; 5 bales Oorriedale hogget, 62d. 7S—Eleven bales halfbred, 10} d; 4 bales halfbred, 81d. 78 bales merino ewe, 73d. Es—Five 1 bales merino ewe,: 6jd. HD over Bar—Ten balea halfbred, Sid; 6 bales crossbred, Bid. Bar over 08—Four balea halfbred, 9Jd. Beckenham Bills—Four bales halfbred ewe, lOd; 4 bales halfbred ewe, 101 d; 18 bales halfbred ewe, lOJd; 6 bales halfbred ewe,. 8d; 9 bales halfbred ewe hogget, : 10} d; 6 bales ram and wether hogfret, 10£ d;. 6 bales three-quarterbred .ewej .B|d; 6 bales halfbred pieces, 81d. - To Ngaio—Nine bales halfbred; 83d; 4 -bales crossbred wether,- J 6idj- .15 bales crossbred hoggets, > 6Jd; • 27 • bales crossbred, 6}d; 16 bales ..pieces,' Bd;, 6. bales cross? bred, 6}d. v '. ' ' ' . Warwick—Thirteen --bales •„ crossbred' ewe, 6d; 11 bales - crossbred"! ewe, 4dT 6. bales pieces, Sid.-. - , ; ■- r : . The Downs^—Twelve bales halfbred ewe, Bjd; 3 bales balfbred.' hogget, 81d; 5 bales Bfd.'i --. . ' • Riverside over HM—Sevea bales halfbred ewe; 83d; 4.bales, half bred hogget, ,7d;< 10. bales - 63d ;- 5 bales cross-bred-ewe, 3d. < i f -•«- - . *■■ . ■■ Glenstraej-rTwelve■ baleß halfbred ewe,. 81a;,, 12 bales-halfbred ; bred ewe, BJd;.7.bales halfbred"ewe, 71d; 6 bales* halfbred" boifget,' ?id4- bales •baubted; hogget, ■ «|d i Bibales -halfbred 6 bales halfbred 7d; 4 bales, threequarterbred'ewe, 61d;, 6 bales halfbred bellies, 4ld. ■* "- 1 J Diafflaond—rFive. bales halfbred, 81d; 8 bales halfbred,' halfbred, Bid; 6 bales halfbred hogget,-81d;. 8 bales pieces and bellies," 6«d: - ' \ '1 ' .*, F.JIO , ovsr. Maungonui—Twenty-five bales three-quarteiiifedi 6fd'; bales .crossbred, Bid; .81 bales- crossbred, 6d; „U bales crpssbred 41d; & bales ljogget,' 83d; '4 bales lambs, Bid'/ 9 Bales' pieces, 4d; >5 bales bel-" lies, 81d; -4 bales• crutchings, 2d; 6 bales pieces and. t>elitas,-Bid. • <, HX—Twelve bales "halfbred ewe, 83d; 9 bales tliree-quarterbred 'ewe',, 7d; 5 \ balespieces, 6|d« ' *.'*•/ \ s Berridale—four bales, >halfbrß4 hogget,, Aid; 10 bales halfbred ewe,' Old; ' 9 halfbred ewe, 833; 6'bales''pieces,.'Bdj' '' DK—Eight bales > halfbred, ew?,- J7|dji , 4. bales , tbrae-quarterbred'*%.we, 7d. MA conjoin—Four bajes halfbred* ewe, 7id; 4 bales thre,e-quarferbred" ewe, -81dr B bales'crossbred ewe,,-.6Sdi' J; , : Glenburtt—BVwr ■ l?alps 5 «; 10 bales, talfbred, 9d; - 4 bales pieso?, 6|d. I/T—Seven bales "halfbred awe, B*d. ' ; ; • Biiiloy—;Eley«n ba{es -hfUbred -eWe, .9|d» ■ IvoryaMCßirteen =bales. Iwlfbred. ewe, BJd. HX-Eigbtfljtfe?' «wo, B|d. : • ■H—jTwefttx balea. QomedfiJe ,ew«; lOd;, 4. balea Oorriedale 'ew,e r 9d,; ' C bales pieoea, tale« ! domeback wether, iIF conxolned —Nine bale# halfbred ewe, BJd; t balea bajfbred ewa. 613. Woodyale-r-Eight bjiles Corriedale ewe, 7d» y riedale Aids, 9 bales Corriedale hogget,i. 7|d; C,b»lea^bellies, 6W. - -- %CttawewtMß aver Mt. Somar*— l^alee: halfbred ,>we, 9d; 6 bales halfbred tajea-cfltted,, J. b(le» kalfbr&i hoffiet, 8o; 16" Wea jire,- 7M: 4Jdi,/^e«] pSu-ass&fl!! w " M,ta4 '«» balea - diflgy 1 / > Bia; 7d: S l3 SOm -hiOfbiod T>ioces, 6Jd; - 5 balitfeed; e*e,jß|dy 8. bales halfbred ib»3iM >bpfo»4/'e?W pieces, ,6d. balea ewe, f ,, .PewWHSarlwie# ..Bomney- oro« -Sißgs-ewe. fid;- 8 balea Englisb Leicester ■ balea half.ewa, 4^• we ' SWIffTW ,<kalf•iAhMep. 7|d;;s balea hal/bred ewejMM 18 :siloa , bilfbred «we JSgfc l^Uiee, balea eomel»clf ' belliea, <|d; 9 ewe ' 8^; * 4 ffl l halfbred 1 gfbtipF halfbred hogget, 6|d. ■■J Tpo ,bqle* halfbred cWe, lojd; 9 Irtj half-

Mt. Olympus over S—Fi ve • bales comeback ewe, BJd; 4 bale* .haubred, 71d. Mt. Stewart—Thirty-one bales halfbred awe, B|d; 17 bales halfbred ewe, 8d; ,14 bales halfbred ewe,' 7id; 12 bales halfbred ewe, 6d; 17 bales halfbred hogget, 71d; 14 bales halfbred necks, 6Jd; 8 bales halfbred . ewe pieces, - Bid; 8 bales halfbred- bellies,-sd. WD conjoined—Eight -bales halfbred, Bid. RW"over Z—Seven i'bales "Oorriedale "ewe, 9d; 7-bales Oorriedale ewe,; 8d? ,_4 ' balei Oorriedale" Koggfet,"7d." •' * " St. Leonards —Eight bales halfbred -ewe, OJd; The Eopjarq—Si* bales halfbred ewe, 8Id; 0 bales' halfbred' ewe, 'Bd; 9 bales halfbred ewe,i7ld; 6 bales halfbred .hogget, 7Jd; 18 bales -halfbred hogget, 6|d; 8 . bales threequarterbred • ewe, 7d; 14' bales halfbred pieces,,7Jd;' 12 bales halfbred pieces. 62d; 6 bales'" halfbred bellies, 4Jd; 4 bales halfbred- • locks, >Bd. liA,- —Five bales halfbred, Bd. ■, ■: R-reserved A conjoined—Fifteen Oorriedale ewe, 9ld J S bales Oorriedale, hogget,'7d. Llddlebank oyer WE—Six bales, halfbred ©we,- o}di ' Baldoon—Fifteen bales, halfbred : ewe, 81 d; 7 bales halfbred hogget, 7d. ... Longlande—Nine bales r Oorriedale - ewe, 9}d; 4 bales Oorriedale hogget,7|d. . 7L over bar —Four bales halfbred ewe, Ten bales halfbred ewe, 8d; 8 bales halfbred ewe, 7Jd; 6 bales halfbred hogget, 61d; 6 bales pieces, Bid., TS—Eleven bales halfbred ewe, Bid; 5 bales halfbred hogget, 7dj 4 bales crossbred, 6}d; 21 bales crossbred ewe,-6d; 8 bales crossbred, 6}d: 8 bales crossbred hogget, 6|d;. 0 bales dingy, 61d; 6 bales lambs, 6id; 10 bales pieces, 53d; 5 bales bellies, 4fi; 4 bales crutchings, 2ld. . . I)unst&fEn&g < e over 4J-r-'Eleveii . bales bred ewe, Bid; 4 bales bellies and pieces, S *Highfleld— Five bales merino, Bjd; 10 bales halfbred ewe, Bid; 8 bales halfbred ewe, Bid; 4 bales halfbred ewe, 7!d; ( 16 bales halfbred ewe., 7id; 4 bales ewe, cotted, 6d; 6 'bales halfbred-pieces, 7Jd; 6 bales halfbred bellies and pieces, B|d. _ F reversed L—Four bales halfbred pieces and bellies, 7Jd; 11 bales halfbred ewe, Did. 6 The Doone—Six bales halfbred ewe, 7ld; S bales halfbred ewe, 71d; 9 bales halfbred ewe, 7d; 4 bales halfbred, cotted, 6id. . p fovo;ged D*—Eight bales three*<iuartorbr®d, 68d;- 4 bales crossbred, Bid. Eyredale—Eleven bales Oorriedale .ewe, 8d; 8 bales • tbree-quarterbred s ewe, 71d;. 6 bhles hogget, 6ld. . , . ' Wodi Nimrin —Six bales halfbred necK pieces', 7Jd; 12 bales halfbred pieces, *6ld; 4 bales halfbred bellies, 4Jd. Yalehead—Six bales Oorriedale ewe, 81d, 8 bales Oorriedale hogget, 7Sd; 4 bales Oorriedale, 7id; 4 bales Oorriedale bellies and rie Ngarona d 'over Hawkswood—-Five bales halfbred neck pieces, 6|d;lo balos halfbred ■pieces, '6Jd; 4 bales bellies pieces, 4d. Swyncombe—Six bales haltbred ewe, -75 d» "9- bales crossbred 6ld; 5 bales crossbred hogget, 6Jd 6 bellies and pieces, over Cheviot—Four bales halfbred ewe, 83d; 8 bales -three-auarterbred ewe, 74d. Qlenariffo —Six bales Oorriedale, 7id; 11 bales . OorriMale, 6Sd; 25 bales Oorriedale, 7Jd-; 81 baleSi Oorriedale, jßd; 8 bales Corriedale, {63 d- 8 'bales Oorriedale hogget, Bid;.B -boles* Oorriedale cotted,.6d; 4 bales three-quarterbred, 51d; 8 bales Oorriedale pieiei, * Bid;' 6 J bales Oorriedale bellies, • Bd, 7 bales Oorriedale locks, 2jd, ■ v • Glenrpekr—Seven bales Oorriedale, 7|d, 20 bales/Oorriodale, 61d; 10 bales Co " ie * a M; 6id:. 23,'ibales Oorriedale,' t>ld; B bales •Oorriedale Hogget, 4Jd; , 4 bale !'. 1 ?.®" Iod E ll i® pieces, Bid; 6 bales Oorriedale bellies, sd, , bales Oomedale looks,t23d. ' ' Brackley—Four bales halfbred, Bd. / i HilWide-r-61* bales' Oorriedale we, 8d;_ll jiales (.Oorriedale .ewe,; 7fd;- 8 bales Oorrie. bales, Ooiriedale ewe, 83d r ® bales Oorriedale ewe/ 8d; 4 bales Oorriedale-,ew«,' CJd; 4 bales Oorriedale wether,'7idi'lß .bales Oorriedale w«ther, 6Jd , 26 bales Oonrkdale ewe, 78d; 7. bales Oorriedale 'wether,. 1 6|d; 82 baWs Oorrfedale ewe, 6|4, bales-Oorriedale ewe, Bid; 8 bales Oorriedale pieces, 53d; 10 bales Oorriedale belliv, 6d; : " 4 bsles <Jorriedale pieces, 8d; B bales ' Oorriedale-locks, Md,. ' ~ Dairy—Tliirteeri bales Oorriedale ewe, Bid; 5 bales - Ngdronia-TFourteen < bales : half bred -ewe, M HQ conjoined—Nine bales 'halfbred ewe, 95d'; 5-bale#* balfbred hogget," ,6Jd. .. .. ■ WGR—Thirty-three bales merino ewe, 91d; 4-bales merino wether, Bid; bales bogget,, 9}d:-Jl2 bales .merino ewe, Bid;- ® bales'8d: 4 bales merino bellies, 6|d; 6 bales merino loeks, BSd; 5 bales halfbred ewe, ,9|d: 4 bales halfbred ewe, 81d; 5 bale» halfbred hogget, 71d; A bales halfbred hogget, 61d; 4 bales halfbred, 7|d; 7 bales haUbred pieces, Old. Bar over IT—Nine bales halfbred ewe, .713; 6 balos three-quarterbred ewe, 7d. v - Algidus—Ten balea merino wether, 81d; K bftles merino wether, 8d; : 7 bales merino . hogget,. 8d; 6 bales merino wether, Jld; 10 bales mtotso ewe, 7Sd; 6 bales merino hogget, 71di » bales merino pieces. > 7id. , f ,^tifl(pr^Fourewe; M;., 4 ■ b*Je» hsUbrcd owe, 4»«. - 'i L|ike.Taylor-^Fire,bilda. 7,1 d; J6. bales ewe,- 7Sd'; - 22 -bales ' ,halfb*ed -'ew,e,-.'6Sd: 17" bales:' hhlfbred .10- scales fialjtbredo bajfbred piecett,, Old; B - haifbted jtiqees, 6d; 6 bales, - O^^|ye W^?& 0 bales ''t^" B Wd;' OT.Vrt»re'd, Mi' i 6?.baler!billies! i vfi t• KTbatei otto,' ,BJ4; 4 'balei .halfbred •ewe,>Bd£4;bates>thrw-tauirte!rbred ewe.>■ 7d. T wether, 7d; 10 bales, hag??k* lUj;« halfbred, hogget,, •7Jdr -Tbftllfi Tiattired,'*7JA; 5 'bales haU-' bred'p!«ce!!i, s Cs|a^ n, '''-W • • 1 • halfb*«d ewe, 'VSSSs#* balM ; w<bale»-balfbred - hog-i mi eS«: - 63 o;. - 4 bales half6Jd„ s 61d 'bales.' wether. • '6fd:jl4ji^le^h«'lW9d,.ewe J QM; •-7 .bales! |h»lWAd>y|ther ;:,10 -tyffes halfbred hog-; WASdf ll'baTA Valibred' bogget,' Bjd; 6d; 5 bale» haJfbrQd; ;;4, bajes,halfbred,- 41dr;', 13 bales. shfuibrAfftpiecestVeSd;. 8 halfbred piaoes,; bellies, 4Jd. r v ' ! 1 ' OraeiWt—Fire bales thwe-quartetbred hogget, 7jd; 12' bales erossbred ewe,, 7}d; 18 baleit crossbred ewe, 6d; B r balps crossbred ewe,- 43d •, 6,.baies - pieces, 6,d<- ■ TO.'over.Alford-r-Four bales halfbred ewe, •Bid;' *"7-' bales halfbred> ewe, 7Jdf IS .bates .three-anarterbred »we,'9d; 9 bales crossbred : Bid; 8 bales crossbred Bd; 7 bal?s threeliottery Downs —Four bales halfbred ew*,> 7|d;- 4 > bales halfbred ewe, 6d, Staffai-Slje baleg halfbred, 7id; 4 bales three-quarterbred, 7d. . BfoolrrlHe—Six /bales 73d. '' (Jrasslands—Nine bales Oorriedale ewe fyogfltd: 7jd;- 4 -bales Oorriedale ewe hogget, * Burtergill—Six bales -pieces, 6d; 4 bales bell Gas', B|d; 8 bales, crutchings, 819. 'Bfowairy—Twenty-sir bales halfbred ewe, 83d; j bates halfbred hogget, 7Jd; 8 bales" .halfbred bellies. Bid., • Barford—Seveif .bales .halfbred, 7Jd; 4 "bales oroisbred, BdT;, 0 'bares crossbred, 61d. -.Bar over the Meadows—Four, Oorriedale ewe,*- Bid. ... -Haerpmaf over Star —Eleven bples half--bred ewe, 7ld; 7 bales thrae-qunrterbred ewe, 61d. , J . Klondyke—^-Seven,bares halfbred ewe, 73d ; 14 bales tbree-quartfebred ewe, 7|d; 4 bales pieces,- 6d. . ' l rwii' conjoined over bar—Fifteen bales Oorrledale .0d; 0-bales. Oorriedale ewa hogSix bales merlfio, -7d> 8 bales halfbred, ewe,'B|d;,ft -bales halfbred- ewe,6Jd4, baler s halfbred hogget, 6d. Blairich—Sight bales -merino, ewe, 7Jd; 6bales'merino ewe, 7}d; 6 bales merino ewe, 7d}'4 bales' merino ewe, 63d; B.bales merino pieces, -Bjd; -6 bales halfbred, 7d; 5-bales halfbred ewe, ?6d; 5 bales halfbred wether, i 6d;* 5 bales .halfbred ewe, Bd; 6 bales halfbred hogget," 6d» - ' Onepunga—Five bales halfbred wether, 71d; 4--. bales halfbre# wether, .61d; 7. bales halfbred ewe, B£d;-8 bales halfbred ewe, 7d; 4 bales haifbted 'ewe, 6Jd; 4 bales halfbred Glea v Holme, over Lees "Valley—Bight Vales halfbred ewe, 91d; 11 bales halfbred ewe, 7Jd. . The Brothers —Five bales Oorriedale ewe, Bd'i 10 bales Oorriedale owe, 7}d; 8 bales .Oorriedale ewe, 6id; 4 bales Oorriedale hog7jd»,. Oreyburn—rEleven halfbred ewe, 7Jd; 4, bales halfbred' ewe, 61 d." ■ Mount Laurie —Fifteen .baieiKJorriedale ewe, 6ld; 18 bales Oorriedale ewe, 6}d;/4 bales Oorriedale ewe, fid; 4 "bales Oorriedale pieces. Kill * ! nirndale—Ten.-bales merino ewe,, 71d; 26, bales - merino' wether, 7Jd; 23 bales merino ewe. 71d; 86 .bale#,merino wether,^7d; 86 ibales ■ merino, -ewe, 63d; ; 85, bales merino. Wether,' 63d; 11 baM merino ewe, 6d; 84 balea 'Merino., wether, . 4 ,bales -merino raSu, 64d; 48' bales meriso o*e, 6}d; 7 bales merino ewer 81d; 8 merino wether, 8H; 7 bale# merinp hogget, 7d; 9 -bales merino hogget, 6}d; 12 baltyi merinp hogget, S3di. 20 bales merino 6d; .5 bales merino:hogget, BJd;. 8 bales merino, ' S|d; '4 bales'merino, Bd; t ll bales pieces, 6|d; 10 'bales merin6 pieces, 6|d; -11 .bales .merino ewe bellies, .41d; (7 bales merino, wether bellies, ,Bid; ,4'bales' merino pieces, -Bd; 11 bales; merino looks, 4dMl bales-merino locks, 3d; 11' bales Comeback wether. «Jd; 8 bales comebaiSlc .-wether.- eld:. 17-bales 'halfbred wether, 6Jd; 21 liales halfbred wether, 6d; 16 bales' halfbred wether, 5Jd; 20 bales halfbred wetheri 6dr~4 bales halfbred, BJd; 4 bales. croSsbred,' BJd; r7 bales haHbred,' piece»,-53d; 4 bales halfbred bellies, .43d; 4 bales, halfbred locks, 31d; 5 bales merino' hogget locks, B|d;'.B bales pieces, Bid; 7 bales halfbred places, 4d,' .'C.QHfton' QTer "N9—Eleven r bales ewe, - B|d; 4* ewe,. lOfd. ' " , >" '' Cliftott—-Nine Bale# .ewe, 11 8 i; « b»ta» awe,

Olenard —EYmrteen bales halfbred ewe, 7|dt 8 bale* halfbred 7d; & bales half* bred bellies and pieces, 51d. ' 1 ' , Sarrat over X9—Sixteen bales halfbred ewe, BJd; 6 bales halfbred ewe, 8d; 4 bales halfbrad ewe, 8d; 7'bales halfbred hogget, B|d; 4 bales halfbred pieces, 7>l; 4 bales halfbred ewe pieces, Si, "

OFFICIAL REPORT. following is the official report with the : range of prices, supplied by; the Christchurch Woolbrokers' Association:— • The third wool sale of the season was held' in the Caledonian Hall 'yesterday, when 13,121 bales were submitted at auction. , The selection- generally , wasr poor, ; the bulk of thev offering ; being dusty, discoloured,' and tender. There was i a noticeable absence # of* really 'super wools. > The condition '• also : was a good deal heavier than at the earlier sales. Bidding was extremely keen, and at times excited, the principal supprt .coming from Japan and the Continent. There was little wool offering suitable for local mills. Practically the whole of the catalogues were disposed of. As compared with last sale, crossbred showed a rise A from 1-Jd to 2d, and halfbred from 2}a to 3d, with equivalent rises in lower grade wools and oddments. The following is the range of prices:

■ brokers: opinions. l " . . . . "> . ! ' H&AVY FROM JAPAN a .T 4 "- ADVANCE PRICES. *' the unexpectedly high prices ' at, the Ohriatehoroh' wool iale > .yesterday /were cau?«ii'primarily' by* peveral' - large orders' from Japan,{.and I may, therefore, nbt ' again, [ during the I'were interviewed last evening, by Thb, I Press '.were 'confident that .prices- are I rifling ana', thit, th* prospects : of, the; | industry are "distinctly brighter, ■, sJ r " ,r dtt 'W l^vei7 1 see,-the.' in .of-the Chi^tchur(?K"W'ooJ.bro^er«( r Association - (Mr--, i Herdjnan). ."Thej "Jtfeanese- bbying had 1 more t6 J do with' .it than in .case", th.e , prices' would . probably have; shown<a firmer tendency.'up to/Id a, lb.' It; is :.too early to say yet whether, the; prices realised at the sale" will' be] sustained. The wool, of course, was not of the best class. We never Expect to see the bright, clean wools that are offered at the earlier sales." ' 'Mr P; Q. Greenwood, manager of, the' wool department of Dalgety and Co., litd., described the offering as rather a spoor selection mainly of back-country wools, many- of which, were" heavy in condition, anddecidedly tender. "It is known' definitely that large, orders were on the market from Japan and-Australia,.-and one big Order from America," said Mr Greenwood, rThese countries, particularly Japan, were very' 'lk,een buyers, and the, Bradford, repre-' sentatives were almost altogether j opt-' bid by them. v "Too Sudden to be Safe." , ''The general opinion.'is that the advance has been too sudden to- be Bafe.' Prices may still, slacken off. Only a month ago> wool'was sticking, in the market; and if the-buyers didn't know then, they don't know now. "There is a big offering in-London set down for March' 10th,,and a great deal depends on how that sale goes off. If it goes off without,« hitchj I think we can look for a permanent improvement!" , , • V Mr' Frank Clark, New' Zealand cipal of Francis Willey and Co., described the one of the most erratic, he had ever attended, especially in. regard to wools bringing between Bd. and lOd. . , "Although .the trade has a better feeling and prices have improved; there. Would have been nothing like the prices chad .it not been -for < the Japanese orders," said Mr Clark. "The Japanese orders just happened to strike this sale when they/game on the market. About half a dozen brokers had orders from Japan/-*-

' Brighter Prospects. ' Hz Clark did not think that such an advance in prices would be sustained. "I don't like to be pessimistic/' he ex-, plained, *'bnt once the Japanese firms i fill their orders' /we won't see each prices as thege. At the same time the limits from Bradford were from lid to 2d in the grease dearer than at the last sale. "I'm sure we've touched bottoih, and there seems to be a rising tendency eveh though the Japanese, orders ;?tay not' last long. Prospects for, the future look very, much brighter. We 're* looking forward to better times now." ■, It,is' interesting to note that-accord-ing to the existing exchange rate,' the English buyer has to pay-(on demand) only'£9l 10s for every SIOO worth:" of, wool he buys in New Zealand, In Australiajhe would have to tmly £7O J2« ed./" , r • i v 1 J >' s * * V is e - « i\ t 5 4

THE SYDNEY AUCTIONS. advance maintained. FURTHER HARDENING : ; TENDENCY,. myXTBO: rBSB> jLSBOCUTIOS—«T ELSCTRia TBLBOBAPH—OOPraiOHT.) I . (Received Marob 3rd, 9.60 p.m.) SYDNEY, Marcli 8. At. tie, wool gale#' the' 1 offerings totalled 10,917 bales, of which 10,741 were sold j also 606 : bales which, were ■; disposed of privately." • The 6 per cent, advance reported yes-, terday -waa fully maintained and many instances of ,a farther ten-' !d«ncy were noticeable. • . " There was exceptionally keen competition .from Japanese, Yorkshire, and ""Continental Greasy merino made up to 19£ d. . NEXT LONDON SERIES. • ~7~" " ! CCXIISD FBBSS ABSOCIATIOW—BT BUCCTUO TELEQBAPH—COPIBIOHT.) LONDON, March 2. New arrivals for the wool sales on March 10th are as follows: — Australian, 60,000 bales. New Zealand, 28,000 bales. . South American, 24,600 bales. Wools held,'over total 90,000 bales. It is expected thrft about 171,000' bales'will s 'be offered. :

' Dalgety and Company report that the = following vessels > have ..arrived in time, for the London sales:—Tamaroa, Mahia, Karamea, ' Coririthic, Baranga. PRICES AT BRIADFORD HARDENING. LONDON, March 2. -At Bradford prices -for tops are hardening. Business is restricted by the adriance of wool' in Australia. CANTERBURY MARKETS. POTATO POSITION EASIER. , G»x ova coxusbcux, bditob.) Tuesday Evening.

There lias been so alteration in wheat' values since last report, although there is quite a, flow of wheat coining forward. . The. yields vary very considerably even in th 4 same district, arid-yesterday one store reported yields '.from 67 bushels to 22 bushels. For nailing wheat, ■ the quotation remains at-6s 3d. a bushel on trucks for the test Tußcan,, and inferior quality lines' correspondingly lower. . The ' quotation for prompt fowl wheat is 4a -lojd to 4s lid a bushel, f 0.b., s.e., for March-April-May delivery 4s lid, and for spread delivery until the end of the yeaf, ss.

Potatoes. The principal alteration in values this week has been in the potato section, in which there has beefta distinct easing,- more especially confined to the later-delivery;'. "To-Say tbe quotation Td»t April-May-Juhe delivery has fallen 'to '£4 5s f.0.b., s.i. which is equivalent to about £8 2s«d a ton on trucks, for July-August-September delivery the' quotation ncwf & £4 12s 6d a ton, f.0.8.,, s.i. There is practically no 'Business passing at present.

- . Oataand Chaff. 1 The' oats market- itti very quiet -and th&O are no changes intvalues; to report. > i >' ?i < i - The quotation for chaff is £i.f».jt& £1 7s 6d a ton,-f.0.b., a.i., ~whfch,is, I equivalent to. about £2 15s 'jfco. £3 a ton on trucks. , « • /.» i , % /' / ' V'j! : - The following. ai4 quotations iar produce to ,1» »iMud- VJ to .> farjnwsi trucks, free or commission, sacka 'extra, except where otherwise stated :-t- - * Wheat (new season's : «■' nominal)*?Tuscan to 5s 3d, on trucks. Fowl wheat 5a . fo.fc., ;5.e.,. spread delivery; 4s '4OJd- to lld/,f.d.b.> ,s.e., prompt delivery. - ■ ;, { •, v ■-/ • ■- : , Oats (new,, season's)r-Algemris :.ls lOd to 2s. A Gartons Ss Btf, TJ's.Ssi:" Barley—Cape' 2s 9d s to 3s,'; halting V ' ' Potatoes (new; season?s>—£3 2s 6d.,- . 'Onions (new/season's)—£4 'los to M: %&.' , v;/- 11 ; -■; CHaff—£2 16s to £8". ' Red Clover—4d per lb (nominal)., , White Clover—7a to 9d. 1 Perennial Ryegrass—2s 6d. . Italian Ryegrass—2s. Cocksfoot—Akaroa 3d to SH> Plains 2Jd to 3d. Bran—Local, £6 10s a ton, f.0.b.; shipping, £4 10s a ton,, f.0.b,; 10s extra for smaller packings. Pollard— Local £6 5s a ton, f.0.h.; shipping £4 15s ton, . f.0.b.; 10s extra for smaller packings,,, * ' Flour—Wholesale price, £l6 15s aton for 2001b sacks, with the usual' increments for smaller,packings. • .

—' r * ( .AUCKLAND. £XgB PRESS Special Service.]

AUCKLAND, March 8. Locally, the markets for grain and, produce continue 'to show 4ri easier tendency, " and farther reductions In certain lines have fceen< made since' the last report. -- , B Gar tons aiywaow obtainable at 8s lid. per- bushel, ex store, which compares 'with .5* at this time last year. A's are available at Id higher. New' season's clipped, Sans are 'now availably Some- lines' of nlcequalityhaye: already made their appearanoe,and thelocal price has been reduced to 6s 6d. ®his Is'ls 3d than lkst season's rates. Clipped and machine-dressed Algerians are available at sb. Despite the drop s in southern, prices, . some 'Algerians are finding their way < iron Australia, where the rates for all cereals are exceptionally low. There is no change Sn .which still commands £8 per ton through ■tore. 1 Despite- low prices, the demand to ,<bran and pollard is" only moderate. The tnarket for fowl wheat continues weak. Consumption is only moderate,''and the; trade is simply buying from hand to mouth, expecting: values to drop further. The potato .market is fairly steady, with good quality, tubers from Pukekohe - selling ,at ; 8» per cwt. ,* >' {l The price of Pukekohe onions still remains at 10s 6d per cwt; hut a consign* ment of—Victorian onions is being quoted at 8s $A to 9s. The quality is .reported as very good. *■ / Wholesale 'current prices are:— ' Pollard and bran, mill prices, pollard' £5 IDs-per,ton; bran £s'lss per tpn; Werchants' prices, Australian pollard £6 Ss Sd to £6 lOfi per ton; .bran £8 ss. Oats:: Feed B-Gartens 8s lOd per bushel; A Gortons 8s lid; clipped ,Duns 5s iSd, clipped Algerians Sr.- clipped Cartons 4s 6d. Fowl Vrheat '6s' 0d to 6s lOd per bushel. Mai»e: Local, 5s < 8d per bushel, ex ?tore. Barley: Feed, 4s per bnehel; sped, Cape barley 6s 8d per' bushel. Maize meal- 10s per 1001b, - barley meal 10s per 1001b Chaff, g.b.o.s. £8 p6r ton, Blen-heim-or Canterbury. Potatoes, £8 per ton ex i store, £6 15s'-oh trucks Pulcekohe. Onions,' 10s 6d per.ewt ex store, and 9a' 64 on<! trucks Pukekohe; Victorian 8s 6d to , Bs. J WEEKLY EGG SALE. I Harris Bros.,' Ltd., report-that'tlie usual weekly sale' of '"Feather Brand" guaranteed now-laideggs wa*. held'yesterday, afternoon. j xhe prices realised were:—Hen eggs, first .grade (2o*'or o*et), lg J 9d; hen eggs, second grade (under' Sot), Is 7d. ' > —8 .h , <;' y , .y \

OHRISTCHURCH STOCK EXCHANGE. YESTERDAY'S ; TRANSACTIONS. 'Markets were brighter on eaH yesterday, bidding was more spirited, and there; was a good volume of diversified business. Transactions, exclusive of vestibule business, included:*—' ' 300 Australian Bank of Commerce 100 Bank of . New Zealand • 300 -Goldsbroughy Mort.• j650: New Zealand Befrigerating, (10s, >■ paid 600 ifew Zealand Breweries 300 British Tobacco „ 500" Mt. LyeU 400 King Solomon ' 1500 Mahakipswa . Goldfields SQO'Mahakipawa'(pref.)<

I .Commercial Bank of Australia shares had dealings at prices ranging,from 14s j9d to 14s 6d, market closing 14s 5d buyers, 14s 7d sellers. ■ Buyers of National of Australasia moved up to £9 2b 6d, sellers at £lO. Bank of New Zealand eased to 48s, buyers staying in at that price, sellers at 48s 3d. Union Bank of Australia were stronger with buyers at £7 2s 6d, sellers at 87 19s. Goldsbrough, Morts were fractionally firmer with dealings at 20s, market closing at 19s 10d buyers, 20s 3d sellers. New Zealand Befrigerating Company 10s paid shares advanced to 2s 3d, buyers staying in at that price, sellers at 2s 4d. New Zealand Breweries moved between 34s 6d and 36s 3d, market closing 35a sellers, 34s 7d buyers. British Tobaccos haddealingsat 29s 2d and 29s 3d, closing quotations 29s Id buyers, 29s 4d sellers. Australian Glass buyers moved up to 245, sellers at 28s 6<L Mt., Lyells were 1 firmer with dealings at prices ranging ' from' 20s • 3d to 20s 6d, market closing, 20s. 20s 7d sellers. 'King' Solomons/recovered to Is , 7id, Mahakipawas were firm at 9sd, and the preference realised 10d.

DECLINE IN PRICES NEW YORK EXCHANGE. IMPORTANT STOCKS AFFECTED. [UHros» raiss " kssoamoH—Ei sutcraxo WMaEAra-copHaaax.) (Received March, 3rd, ' NEW March 2. . The expected reaction from ward movement on tiie stock market be-' enfted "to-day/irh<m A > prices I ■' declined - 'from one to five points" with the -sales pmd »is dpstrial Ce New York - lost five points;.' Wd' attd five' pointy .professional interests expected a continuation of the boom, inovenient, _ reactions were considered, to be [ inevitable, < , due to Wall Street's tendency'to overemphasise reports .of an. improvement , of business conditions.

(CONTINUED ON' PAGE &> }

s.. ' ■' * ' - 5 .;' o/ Jan. 26th. Mar. 3rd. 193J. , - ,1931. d. a. a., a. Medium Crossbred-— . Super ' to 4| 61 to Of Medium > „ 3i to .4 : J to .6 Inferior ,. .2J;4o Z. ■ 4'i -to ■ 4} Pieces— , Good 3}'to 5i <6 ' tO : S Inferior to li to Si\ average .. '*i to ' 5 J BelliesGood" ' 2} to 4 6 , to 6 Inferior to average .. Crutcnings— 1J to'' 21 34 to 4} Medi'um- to 2i to 4| good ' .. If to 2J Inferior and li to 2i seedy ,, 1 to li Locks-r : Halfbrod . .. ;1£ to 2| Si 16 .4 Crossbred , . . i to li \ li to 2

; d. d. Merino— . ■'> - : i ; i 64/70, 60/74: . ; Super >». . . . 8| to 81 Average ... .1 7 to 8} Inferior , .A, 51 to n Corriedale — ' Super .. 9 to 10 Average .. 7 to «i . Inferior .. 4J to 61 Pine Halfbred— 96, 56/8, 56: Extra super — to 10| .Super , ... . •>, 9 to 10} Average .. .. 71 to 8f 7 .*:■ Inferior .. 5 to Medium Halfbred — ' • 50/56, .'50: . v. Super .. 8} to 10J ■ Average' ' 7 to 81 . : Inferior ... ... 5 ' to 6} Coarse Halfbred— . W60: Super .. 71 to 81 • Average .. .. 61 to 71 Inferior 5 to 6 •Fine Crossbred — 1 46/48: 7* to Super .»• !•••-• •• 8 . Average 6 to 7 • ' Inferior .. - .. 41 to 51 Medium Crossbred—* J 44/46: ; - . 01 Super v» - v. 6 to Average .» • .. 5 to •51 •- Infetlor > 4- to41 Bellies' and iPieces— S't Merino/ good to super 6' to Merino, low to J med. 4i-. to 51 Bellies — ' '' ' 41 to 61 > 1-bred, good to: super i i-bred, > low to med. 81 to a Piece's —" ' ' 1-bred, good to super 6 to ... 'i^jred,,, to mod.' 8| to 51 Bellies and Pieces— 1 41 to Xbred., good to snper •' Xbred., low to med,. 8 to 4} Orntchings— 2J to 4* Medium to good .. Inferior and seedy .. 1 to 2 Loclcs — \ S to 84 Merino •« Halfbred «. 2 to 81 CroBsbred If to 21

LATEST QUOTATIONS. ; Bnjnw. 8ell«rsi, '£ a. i d. £ i. <1. i . . N.Z. Government , 4J per oent. Inscribed, 199S 4- ' .. t! t 1 li M 4fc per cent. Inscribed, ;1939 .. 98 0 0 93 10 .0 .,4''per,'MDt, Bonds, 1998 .. .. 98.7'8, — tt - per » tot' -Boafli. ' ■ , 1939 .. 98 7 8. — ■Bk per Mat. Inscribed, 1933 98 10 0 — - 51 per o«at. Inscribed; 3941 .. — , „ 98 54 per' <sent; ■ Inscribed, 1988 "98 10,0 90 # 0 54 per cent. Bonds,, • ll »« * 1988 .... 0910 0 G| per beat. 'Inscribed, , 1986 ' .. ' .. 90 0 fi 9i ~*'0 6t per ' cent. Bonds, 1886 " .; ■ ..'*98 * 0100 0 0' Other XtehentarM ■ ' Springs-EUeamere Power, 6$<per ■ cent 1, 1937 - —♦ 99 10 0 Selwyn County, per cqnV, 1933 • .. -SI. 0 0 99 0 0 Glaxo, .Si per. cent, ■ " 1946 , .. 97 0' 0 916 0 N.Z.' Being.,. '61 per cent., 1933 * ' 9410 0 Booth,*) Maodonatd, * 6J; • ' • par cent.,5 X932 .. W 0 0 1 — ; fullers' Pictures, 6J 'per . . cant., 19*9 .. f — 90 0 0 Banks— Arust. of Commerce .. ,014 10 0 18 8 Ati*tralaai» (cum div.).. 9 2 8 10 0.0 Comm of Aast. .. 0 14 5 014 '7 National ot AustnlMiai (£5 pud) .. 416 0 — National of N.Z. .. 4 16 0 * 10 0 Hew South''Wales .. 35 IS 0 9610 0 Mew Zealand ~ 3 6 0 3 8 8 - Union of Auat,> . sr,7 2 •€ '7-19,=0 iburaxaacch-^' , A.P.A. .. -r -Off# National .w — 018 8 , New Zealand ... ,. -319 0 2 1 8 South. British «. 9 11 9 918 0 Standard (ex dir.) .. 9 3 0 a 10 O ' United .■» — ,7 0-0 Loan sod Christchurcb - Building ■ ' " Society .' ■.» 10 12- « =18 0 O Goldsbrough, ttort .. 0 1910 10 3 Efclgety and Co.0,10 , 0 frl? <0; , -Jiatual Benefit... /.. 10;>2-.8,13 0 lHCtafpn. M> 0° 5. %V N.Z. IW and' Merewt-'" ' !: ' ' tiU, (ord.) \ • .>JS1 0,0-» 0>iO ' ' / >>m< *• <■?> v r t ; >' -■< HWdart-Parier > <(e*d., 5 , " 1 -ennrdfe.)'' i*> -X t 0 -Or- ,1-4 ,0 :• Stock;, .*f. , f.. -\111;. 8. 117. 6 , *. Canterbury (pfof.) .Ill 8 4 0 ,0 1 N.Z,: fija&ff.. (01 1 r«a> C »'<1 >7i- —'' . ' >s«wi Woolieia- > v o©4^' : ',' * *" •••• ' {^, s . '1 S^fO■ WB»tport-Stoolrtoxii'5?tefc)' 'w\ — v ",0 0" " ! ' ■», t, > 'r'* Him ,m ( Christoharch \. ' .. 1 0' 14 7 Qhri»tchi'rch (10s paid) <,0-10. 9 , 0 11. 6 i Timaru ~1 a 0 Btew«r£e»~> ' rt ,^Lr <\ - !S "V v cun«m ,, ,>i V'i ; i it % Foster'# 1 . >■ 8 9 6 New Zealand < 114 T 1 IS 0 Staples .. ...J 141 9 115 0 Timatu,- • % , .. . — VO18 0 Tinjaru (Gs jmid) 0 i 7 0 5- 0 Tooheya , ; 0% « V 0 1T 0 Tootha ., ' „ 1$ White Star .. 1 .. 0,6 0 f 018 .0» -"; f >»^ s v >< •? 'r*, 1 [ \ Allied Motors .. .. 0 010; 0 16 Amalgamated Wiielea* - (contr.) .. . .. 0 18 0 , 1 "0 tf "Australian'' Glasa .. \_l-,a'8'. Beath aad Co. .. -1 0 8 >1 0 Beath aad Co.-(la paid) O 110 0 8,\6' Byitiah Xoha<Mo\ .. 1 9 ,1. 1 9. 4 Colonial Qugar .. iS8 5 0 80 0 " D.l.C. <l0a' paid) .1 v 0 12 :"6 X 0^0, • D.I.O. feref.) -0,17 0 — ■ ' Dtmlop-Petdiiftti CKuV V \ A her < .. ' ,, 0" 9; 0" 0 9 8 , Electro. Zino (ord.) 0 15 1 -0 16. 8 < Olcnmon Bnck and . 3SW — 1 0 "0 Holden'a Motors , t, .. 0 7 0 0 10 0 Mason. Stiutfcers (X4« '• ; .pud) , .. , ~ 0 8 ii: Mt. Ly«U v „ 1 1 0) J 10 7' N.Z. Farmers', Co-op. „_("B" pref.) — J 110 0 N.Z. Farmer*' ' Co-op. , (8i pe? oent. Stock, » " . 1940) ' , ». 47 0 0 Iv.Z. Farmers' Fertiliser , 0 19-0, N.Z. "Paper Mills .. 1 —» 0 18 ,-sl North Oanty. C«K>p. , , ' < ,t , 1 Flour '0 10 0 —: Quill, Moixis .. , .. 0 S 0 0 7,8 Whitcombe and' Totatbs 2 18*0 a 18 0 r Wilson's CJement • ... 1.39 3 1 19 9 WunderUoh, .1 -..088 — Evans,Atlas Flour .. 110'~8 . N.Z.. Bugar of Milk'.(Pref.) ' 0 « 'd ! tt W 'O . Eolipeo Petrol {£1 pd) '— 0 12 . 6 Miaing— _ ' * * r .Cornish'"Point ' 0 <0 9 0 0 6 luns Solotoon, I) 1-6) 0 1 S MahaJnpawa' .. 0 0,9 ,0.0 9| Mahakipawa (pref.) .. 0 0 ' 9 0 0 H Okanto .. . ..■ 0 6 7, 0 7 9, Stonw Creek. (7Jd pd) , , O -U Waihi - > . Oli e 0 16 G Wathi Grand Junction 0 3 4 0 9 9 « winding Creelr (J« jrf.f" 0 0 1 0 0 31, Winding Greek (9d pd.) —. , o 0 North,Broken Hill 1 17'"8 2*0' Katrut M .. , . _ , o C 0 1 4 f T i s YESTERDAY'S ,SAtiES.* -t j 3 } • ■. CBRI8XjCRUS€B; * ; 0 Sales oa 'Change—. , , jfi g,? Commercial. BanH - or Aus-, trali»| :• ' . v f;fO : 'WSVJ , '' ' (4)- 0.14 ©. ' ' v m« w : "Baak of Ne#.Zealand '""a 8 "o Goldsbrongh, Mork o ' - ' v - } «

New'jJealakd ? • (10®.paid) r$t New Zealand Brewertaa .. * 1 15 0 v- y* fi.i> British Tobacco ... -« '1 9.' 3 ( - /• >*y,^V*V ( Vv Mt. Lycll , JL , ' < r K A (i . . v ;' -vtj Qs \ King Solomon ..... ''(kj vft '1*' fil llahakipawa {£) \q 0 94.* Mahakipawa (Jgitli) j ''o* OMO-r' Sates Bwnrt&w V ' I % $.;' '& « Commercial'Bafcli 1 of Aug- >*7\' taali* j * 1 • j* * »Q 'JR „ New .V- ■ (10s paid) :. . - V-i* B New Zealand JBrewcrits ,.,* - 1 1 15 6 ' ' - " .ll&'fivMt. Lyell ■•,•', -•' 1 0' A -3V " r AUCKLAND. '' /* % Sales on 'Change— >„ » Vs • * £ V'a.* Inscribed'Stock; 1933, * 54 - * i-vU per cent. ;., » ... "90 10* r o' r Bank of New South,.Wales Bank of New Zealand ; 2; 8. -fr Auckland Gas (cxwt.) - 4 ,. - o TO.,0 * Colonial Sugar ... " ... 2915 0* Mount Lyell' ... 4 _O v g ; Moasataiari Mining (2) 0 1' 6 0 ,1 5 •; <■ —.— , , ' ~v WELLINGTON. , f {• Sales Reported— « * ' > ' £ 2T.SS. Government 41. per „ , , j cent. Stock; 1939 $T J S-°, ft 1 -■ IS".?. Government, 4j per-iV," ,m cent! Stock, 1938 - .. ' " NX Government SJ per ' r\ ' u Bent., Stock, 3033 " „ j. * 99* q' *0* Commercial Baxtk of 4"ustra- *' lia (ord.) (2) 0 14 9 Aaat. Btutk < of -Commerce *o 14 , 9~ Wellington Gas Go. > *\> South British Insurance" . i. t , w _9°' . *\ 101 «} , N.Z. Brewenea 116 0Wilaon'a Cement, .. . . - "j. «V 1. 1 v * T PLNEDIN, Sate Reported—- • '• i- ' ' . . King Solomon ... ... 1