THE WOOL CHEQUE

Press, Volume LXXI, Issue 21412, 2 March 1935, Page 10

THE WOOL CHEQUE

PROCEEDS OF YESTERDAY'S SALE APPROXIMATE VALUE OF £215,000 Anything like an accurate estimate of the gross value of yesterday's sale is impossible until the price of each individual lot—and there were more than 3000 lots—has been worked out by each firm of selling .brokers, and the results in each case collated and finally calculated by the staff of the Wool Brokers' Association. However, actual realisations at the last two sales enable an approximate estimate to be made. It is probable that the weight of the bales will be greater than at the earlier sales this season, but for an approximate estimate this need not be taken into consideration. Values yesterday were generally considered to be down on the preceding sale by a halfpenny to threefarthings per lb. There were fewer super clips forward yesterday, so that the average decline would reach a full three-farthings. This would represent about 21s a bale. At the last sale in January the average price a bale was £ll 12s lOd, so that something like £lO lis might approximate the value of yesterday's wool. About 20,800 bales were sold, so that the gross value should be about £220,000. At the January sale the gross value was £280,143 for 24,061 bales sold.

A comparison of the details of the two preceding sales are as follows: — Dec. 13, Jan. 28, 1934. 1935. Offered (bales) 18,355 25,198 Sold (bales) 17,134 24,061 Total realisation £190,760 £280,143 Average prices— Per lb 8.214 c! 8.642 d A bale £ll/2/8.02 £ll/12/10.327 BRADFORD TOPS LONDON, February 28. Bradford is doing moderate business. Quotations are as follows: — Jan. 31. Feb. 7. Feb. 21. Feb. 28. d. d. d. d. 70's .. 271 26 26i 261 64's .. 25 24* 241 24 60's .. 23 231 221 22 56's .. 18.', 181 18 17J 50's .. 141 14J 14 131 46's .. 10;! 101 10 101 40's ..9!, ! 9-1 91 9J QUILL, MORRIS, LTD. RECONSTRUCTION PROPOSALS As a result of the substantial reduction in the last few years of the bank overdraft the liquidators of the company consider that proposals can now be placed before creditors of the com-

pany for early reconstruction, and for that purpose a meeting of creditors whose claims have been admitted by the liquidators will be held on Wednesday. March 13. WESTLAND BREWERIES, LIMITED REPAYMENT OF DEBENTURES .SI'ECIAL TO THE I'KK'iS : GREYMOUTH, March 1. Debenture holders in Westland Breweries, Ltd., have been notified that all debentures will be repaid at the expiration of six months. The debentures issued consisted of 3850 debentures of £5 each, bearing interest at 10 per cent., subsequently reduced by legislation to 8 per cent. COMPANIES REGISTERED flu: current ismie of tli ;* ''Mercantile Gazette" notifies the registration of tho following new companies: Rotberham Securities, Lid. —liegi.-u'rcd as a private company February 19. Office: 143 Hereford street, Christchureh. Capital: A'looo, in 1000 shares of £1 each. Subscribers: Cliristchurc.il —G. J. If. Garlon 400, C. T. Garton 400, A. I\ Thornton 200. Objects: Financial and commercial agents. Rentals, Ltd.—Registered as a private company February 20. Office: .18:1 (.'ashel street, Christclnn-ch. Capital: .£250, in 250 shares of £1 each. .Subscribers: Christchurch—M\ G. Wright 245, W. G. Wright G.

Objects: Kent nnil debt collectors and trade .■iiid property owners' protective organisation generally. increase in Capital—K.D.V. I'o.ves, Lid. C'lin'tal increased by addition of .£70,000 beyond the registered capital of £80.000: re mistered February II!. BRITISH STOCK MARKETS A BRIGHTER TONE (BBI'IISH OFFICIAL WIRELESS.) (Received March 1, 5.5 p.m.) RUGBY, February 28. A brighter tone prevailed on the stock markets this morning, business being stimulated by news of industrial progress. British funds showed renewed firmness on the latest revenue returns.