COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2418, 25 March 1915, Page 8

COMMERCIAL ITEMS

INVESTMENT SHAKES. In the investment market yesterday there were sales of National Bank at £5 10s.; Bank of New Zealand (old) at £11; and Leyland-O'Brien at 225. The quotor tions were as under:— Buyers. Sellers. £ s. d. £ s. d. National Bank — 511 0 Bank New Zealand (£3 6s. Bd. paid up) 11 0 .0 — Equitable Building 9 6 0 — Well. Trust, Loan, Ltd. ... 7 8 6 Christohurch Gas (£5) ... 7 10 0 — VVcIL Gas (£10) 16 2 n - N.Z. Insurance 6 0 0 — South British 4 16 0 — Gear (£4) « 7 6 . N.Z. Shipping (pref.) 10 10 0 — Union Steam (pref.) — 110 Mosgiel Woollen 3 15 0 — Well, Woollen (ord.) 4 9 0 — Well. Woollen (pref.) 3 4 0 — Weslport ; 113 0 — Taringamutu — 2 2 0 Golden Bay Cement 10# 1 0 3 W.F.C.A. (£5) - 6 6 U EECOED PRICES FOR THE STAPLE. ' A supplementary sale of kte season's wool,' held in tho Oddfellows' Hall yesterday by the local woolbrokers, showed that the demand for wool, irrespective of quality, wae never so keen, qb it is to-day.. It •will be remembered that at last month's eale in the Concert Chamber the high prices realised caused even eome of th© buyeTe to whistle their surprise, one lot of storm-washed crossbred wool realising 16id. per lb. This price was easily beaten at yestcrday'6 gale, though the quajity, all round and in particular lote, was inferior. One lot (16 bales) of fine crossbred greasy wool, eold on account of Condon Bros., of Hokitika, by Messrs. Abraham and Williams, realised 173 d. per lb., which i 6 a record in the history of wool saJes in New Zealand. Scoured, wool aleo made bis money. A.' line' of belly wool, forwarded by Mr. Bell, of "Benopai," Marlborough, was knocked down by Messrs. Dalgety and Co. at 20d. per lb. Another line of-scoured locks brought as high as 18d. per lb., which is an extraordinary price. The sellers elate that the average prices realised all round were, about Ud. per lb. higher than the last eale. In all, some 2086 bales were 6old, the brokers contributing in the following ratios—Murray Roberts and Co., 770 bales: Dalgety and Company, 613 hales; New Zexir land Loan and Mercantile Agency Co., 2?,5, bales; Abraham and "Williams, 220 bales; Levin and Co., 125 bales; W. and G. Turnbull and Co., 25 boles; and the Wairarapa, United Farmers' Co-operative Association, 8 balefi. There was a full board of buyers, and. competition was keen throughout the day. The following are the brokers' reports:— Messrs. Murray, Roberts, and. Co. report:—Yesterday's sale-mu6t rank aB ,a record for Wellington, and probahly for New Zealand in regard to prices realised. Values have been admittedly on a very high level for some time past, but the figures recorded in yesterday s sale exceeded all anticipations. The wool at this time is naturally not of a high order, and most lots catalogued were in heavy condition, soedy, ana cottod. Very few lots cither fleece or lambs' wool were Quito free of 6eed, and only an occasional parcel of light-conditioned free wool was seen. Compared with last month's sale pries* advanced fully ljd. per lb. Several, lote of fleece made up to 15d. and over, end super iambs' wool touched 17d. Lightconditioned crutchings, free of seed, made up to lljd., being a record, for this class of wool in the grease. Wo submitted some lines of scoured locks and pieces, which brought from 13? d. to 18d. per lb. Some of our salee were:—Crossbred. AMI, 16d.; GPB,> I 143 d.; RH/T, tSd.; EPLS. 15* d. and 153 d.; OFR, 14? d.; N & Co., 15d.; lambs, J.TW, 14Jfd.; ABC. 14* d.; PII/K, 13d.; WAIPAI, ! 133 d.; JB/BRO.OKLAND9. 12M. and 132 d.; crutchings. GLENPONALD, ioid.; KAIUJ. illld.; ADMIRAL/P & S, llld. The range of ' prices current was as follows:—Crossbred, good to super 152 d. to l?Jd., medium 13d. ! to 15Jd., coarse lZid. to 143 d., inferior, cfiney . lljd. to 123 d.; lambs, super to 17d., I medium to good 123 d. to 14d., inferior, seedy 1 7d. to 12d.; locks and piccce?. 7d. to Hid.: j crutchings, 83d. to lljd,; scoured locks and I pieces, 13£ d. to l&d. Mesers. Dalgety and Co., Ltd., report:— , Wo submitted a catalogue 0? 620 bales out of a'total of 2046 bales, and have to report. record prices, with a consequent total clearance of all lines. The muster of buyers was-fully representative, so that with the keen competition and practically open buying orders tfio rnR« own above expectations, i.e., about Id. per lb. all round for halfbrad.nnd crossbred fleece, and" probably lid. per lb. for bellies and pieces, and any quality lambs' wool. We obtained probably a season [s record for lambs' wool with a super line from Mr. R. A. Harcourt, KoHerongj, which realised 17id. per lb. Some scoured oddments of the "Benopai" clip from Marlborough also made cood, figures, the hollies making 20d., second pieces 19Jd.. locks 18d., end two odd bales of fleece- 20d. and 21R respectively. Rome of our best result's were: On account of Mr. R. A. Harcourt. South Westlaml, lambs, 17Jd.; Mr. \i. Mackley, South Westland, lfi2d.: Mr. J. B. Hunter. Maeterton. crossbred, 16d.; Mr. Tho.?. Richardson. Karamea, crossbred, 153 d.; Mr. W. G. Bright, Westport, crocebred, 153 d.; Messrs. W. and-8. Gowor, Patea, orowbred. wfi,; Messrs. J. H. and A. P. Gibbw, TJtiku,

ewes, HSd. The range of jorices was as follows:—HaUbrcd, to 16id.; crossbred, super, to 17d.; crossbred, medium. 13d. to t6d.: crossbred, coarse, 13d. to 16d.; crossbred, inferior and seedy, Hid. to 13d.; pieces and belllce, 9d. to lljd.; locks, sd. to 7d.; Jambs, super, l4id. to 17Jd'.; lambs, medium. I2d to 14* d.; lamba, inferior and sceay, 7d. to llidf

The New Zealand Loan and Mercantile Agency Company, Lt., report that the wool offored included a fairly large proportion of back-coimtry lots and seedy lambs, ateo a few lots of light conditioned fleece, tho whole of which sold at Tceord prices. Good, bright lambs, free of seed, were also in good request. The firm estimate that prices for flccee and good tombs ore higher than February sale by l*d. to 2d. per lb. Seedy lambs sold at an advance of id. to Id. per lb. Crutchings wore keenly competed for, at from Bid. to llid.: crossbred fleece sold at from 12Jd. to 16jd.; good lambs, 12d. to 17d.; seedy Jamba, 7d. to llid. The range of prices was:—Crossbred, fine, 15d. to 17d.; crossbred, medium coarse, 12Jd. to 15d.; pieces and bellies, 7£d. to Hd.; locks and stained pieces, 6d. to 6id.; crutchings, superior, lOtd. to lid.; crutchings, medium to good, 105.; lambs, 12d. to 17d.; seedy, 7d. to llid.; dead, 10$. to 121 d.

Jfftssrs. Abraham and Williams, Ltd., I report as follows The last sale of the 1 season was held yesterday, when, about 2100 bales were offered. There was a good attendance of buyers, and competition was keen for everything offered. Prices were exceptionally high for all good fleece wool. As at last sale wc again topped tho market with the record price of 173 d. for a linoof sixteen bales of fine Itomney in very high condition. This wool was sold on account of Messrs. Condon Bros., Hokitika, and constitutes, a record for greasy wool eold in New Zealand. Another line of Itomney, 6old on account of Mr. B. D. Knight. Longbum, realised 17Jd. Some of our other best sales were aB • follow:— FW"/W, 8 bales crossbred, 163 d.; 88/W, 4 bales halfbred hoggets, 16Jd.; 6 bales crossbred, 14id.; AO/S, 19 bales crossbred, 16jd.; TH/S. 9 bales crossbred, 14id.; 2 bales lambs, 134-; 2 bales pieces. 10d.; Brevß/PN, 4 bales crossbred, 153 d.; AB/K, lambs, 16Jd.; 2 (in circle), 3 bales crossbred, 161 d.; JW/C, 2 bales lambs, 15d.; AC/C, 2 . hales lambs, 14id.; AS/VR/C, 2 bales lambs, 15id.

Messrs. Levin and Co., Ltd., report eager competition for everything offered at lid. to 2d. per lb. all round better than FetK ruary rates. The bulk of the wool was rough and 6eedy, but it sold at better price© than good crossbred realised at the opening sales of the period. Crutahin&s demand special note, the season is Just opening for thte description of wool, and it is evident that high prices arc going to rule. Good Jambs' crutchings from Kehumingi, Masterton, realised H?d.; and lljd. was obtained for some branded W9D, also from Masterton. The range of prices was ae "under:—Crossbred, super, 15d. to 17|d.; crossbred, medium, 14d. to 16d.;crossbred, coarsc, 14d. to 153 d.; crossbred, Inferior and seedy, lljd. to 13id.; bellies and pieces, 8!d. to lOfd.; lambs, best, 14d. to 16id.; lambs, medium, lid. to 14d.; lambs,inferior and seedy, BJd. to 12jd.; crutchinge», good, lid. to 113 d.; crutchings. medium,' lOd. to 103 d.; crutchings, inferior, Bd. to 10d.

Messrs. W. and G. Turnbull end Co., Ltd., report:—The supplementary wool sale was held yesterday in conjunction with the usual sheeDskin and hide sale. There was a total offering by all brokers of about 2.000 bales, and competition was exceedingly keen throughout' the sale. Vendors considered the last sale's results as excellent, but this sale was even better, prices showing* an-advance of 3d. to Ud. per lb. Our best price realised was for scoured pieces and locks, on account of Sir W. 0. Buchanan, which, realised 19Jd. and 17d. respectively, but of greasy wools we had nothing outstanding, our offering mostly comprising odd lots. Sheepskins also sold well, 6hc&*ing an advance of id. per lb., with the exception of pelts, which showed a slight decline. Hides were only in request at considerably reduced prices.

The United Farmers' Co-opeiatiro Association, Ltd., and the Wairarapa Farmers Co-op. Association, Ltd., Teport as follows:—The demand was strong, and prices for good lines were higher by Id. to lid. Sheepskins were firm, and hides lower by fully Id. per lb. We quote es follows:— Crossbred, super 15Jd. to 163 d., medium 14d. to 15>d., coarse 13d. to ISJd., inferior ani seedy lOd. to 12id.; lambs, medium llid. to 14id.. inferior and seedy 7d, to lid.; hollies and pieces, Sid. to lid. SKIN AND HIDE SALE. Messrs. Dalgety and Company, Ltd., 'Toport:—ln conjunction with the final wool Edle of the season, held yesterday, we offered our usual fortnightly catalogue of skins, hides, and tallow, and with the exception, of hides the results show a further rise on last sale's prices. Skins and tallowsold exceptionally well, as the range of prices given below will show, but it is difficult to explain the dragging market for hides of a penny per lb. for oi and to lid. per lb. per lb. for cow. The decline is probably in sympathy with .the Australian market, but we trust that it will bo only of a temporary nature. Messrs. Abraham and Williams, Ltd., report:—We offered a good catalogue of all classes of produce. Competition -was very keen, and prices for skins 6howed on advance of a halfpenny to thrce-farthinga per lb. ' Hides were very much easier, especially cows, which showed a declino of a penny per lb. Heavy ox were about one farthing lower, light ox a halfpenny. Tallow was a little easier. We craote:— Skins: Fino crossbred, lljd.; medium to coarse crossbred, 103 d. to Hid.: short to half-wools, Bid. to 9»d.; dead and damaged, B|d. to 9}d.: inferior, 4Jd. to 73d.; lambs, 9id. to lHd.; damp and Edited. ss. to 7s. 9d.; pelts, 3s. M., to sa. 3d. Hides: Heavy ox, 92(1. to 103 d.; medium ox, Bgd. to 10Jd.; light ox, 9d. to IOJd-; heavy cows, Bd. to 1(81.: medium cows, B.\d. to lOd.: light cowo, Sd. to 9!d. : damaged, fid. to 7Jd.; bulls and staas, sd. to 5 3-Bd.; yearlings, 7id.: best calf, 9Jd. to 10Jd.: medium calf, Bid. to 10d.; damaged, to BJd. Tallow: In casks, £27 to £25 10s.; in tins, 20s. 6d.,t0 235. 6d. ....... Messrs. Murray, Roberts, and- Co., report having submitted a catalogue of 3000 eklne, SCft hide* and Milfskins. and some lots of tallow and sundries. There -was very keen competition for sheepskins. Amongst I2ie offerings of hides were some superior freezing works' lots, in excellent condition, and for these there was very good competition. Ordinary butchers' lots, in fair condition, were, however, to s.ome extent neglected and prices for these' suffered a decline of fully three-farthings to a pnny. Tallow was in demand at late rates. The New Zealand Loan and Mercantile A?ency Co. report a keen demand for pkins and tallow, but hides were lower by Id. to 2d. per lb. on last sales. Sknis sold at an advance of id. to 3d. per lb. Cnotoma duty collected at the port of Wellington yesterday amounted to £8448 6s. 4d. LONDON WOOL SALES. (By Telegraph—Press Assn.—Copyright.) London, March 23. At the wool sales prices . for merinos were unchanged. There was animated competition for. crossbreds, with prices against buyers.- The following prices were realised for .the fleece portions of the clips named:—Kerarbury, top price 141 d., overage 13M.; BudeeTjr, 13d. and 121 d.: W.AD.. 24ad. and 203 d.: Bundoran. 29|d. oiid 28U1.: Alice Downs. 15id. and 14d. New Zealand:—Mount ■■ Stewart, 18d. and 17gd. Tho New Zealand Loon and Mercantile Agency .Company, Ltd., hos received tho following cablegram from London, under date March 23:—"London wool sales: There is good competition. As compared with last sale's closing rates, faulty merino Is 71 per cent, lower, greasy crossbred is 6 per cent, to 7i per cent, higher; prices for. elipe. and scoured aro in favour of sellers." '■ ' • SYDNEY WOOL SALES. (By Telegraph.—Press Assn.—Copyright.) Sydney, March 24. Wool ealos show a further easing tendency,' particularly in the lower grades. METAL MAEKETS. London, March 23. Copper.—On the spot, £69 to £69 55.; three months, £69 lis. to £69 15g.; electrolytic, £74 -10s, to £75. ' Tin.—On the spot. £173 to £173 10s.: three months, £167 to £167 lfa. Lend.—On the spot, £23 15s. : Spelter, £43 10s. to £44. ..WHEAT, The wheat market is quiet, and prices are occasionally easier. LONDON QUOTATIONS. ■ London,' March 23. Stock and share market ouotations include:—British, 275. 9d. and 2fis. 9d.; Bank of Australasia, £114 15a.; Bank of New South Wales, £40; Bank of "Victoria. £4 65.; Union Bank, £53 155.; National Bank of New Zealand, £5 os. 6d.: Bank of New Zealand. £94 (stock) and £10 7s. 6d. (shares); New Zealand Loan and Mercantile first mortgage. £89 155.. ordinary £80; City of Melbourne, £96 155.; Melbourne ffrbour Trust, £95 10«.; Melbourne Trams, £101; Melbourne Board , of Works, £97 ss.