CHRISTCHURCH WOOL SALES

Dominion, Volume 14, Issue 220, 11 June 1921, Page 10

CHRISTCHURCH WOOL SALES

ACTIVITY IN 40’s TO 48's THE RANGE OF PRICES By Telegraph—Press Association. Christchurch, June 10. The first local wool sole since the recent resumption of sales, and the fifth of the season, was held to-day, when 8000 bales were offered. There was a spirited sale, and practically seveneighths of the catalogue was disposed of—in the case of three-quarterbred and crossbred, at an advance on the local February rates, and a distinct advance on the rates ruling at the recent northern auctions. Good halfbred averaged practically the same as at the February sales, but seedy and dingy was a penny lower. Three-quarterbred was about a penny higher, and crossbred was a penny to a. penny half-penny better than at recent northern auctions. The most encouraging feature of the sale was the activity displayed in competition for practically all classes of 40 —43 wools. The bulk of the catalogue went to Home buyers, local mills obtaining a very small proportion. Scoured wool was not wanted. Pieces dropped in price by comparison with the rates at the last Christchurch sale. The range of values was as under:— Merino, Hid. to 13ld. Medium merino, 9d. to 10d. Inferior merino, 6d. to Bd. Medium halfbred, Sjd. to 9}d. Medium lialfbred, Bld. to Old. Inferior halfbred, 6d. to Bd. Super threequarterbred, TJd. to Old,. Medium three-quarterbred, 6}d. to 71d. Inferior three-quarterbred, sd. to 6d. Super crossbred, 7d. to 9|d. Medium crossbred, 43d. to 6}d. Inferior crossbred, 3}d. to 4(d. Halfbred pieces, 4d. to 6Jd. Crossbred pieces, 2d. to 3Jd. LONDON WOOL SALES HIGH COMMISSIONER’S REPORT. The Department of Agriculture has received the following cablegram, dated ■Tune 8, irom Ihe High Commissioner for New, Zealand: "Wool sales commenced yesterday with catalogue comprising 6500 bales Australian, 3500 bales New Zealand, 2200 bales South American, all free wool. Attendance large and competition was animated, specially from Continent. Practically all sold. Price for finer merinos on average Id. higher, and fine crossbreds id. higher than closing rales last sales. Other descriptions firm at that level. First B.A.W.R.A. sales to-day. This week’s B.A.W.R.A. offerings will consist of:— Australian.—Meri-no, greasy, 8800 bales; scoured, 4400 bales; crossbred, greasy 3800 bales, scoured 1250 bales. "New Zealand.—Crossbred, greasy 1800 bales, scoured 900 bales, slipe 600 bales, reconditioned, 500 bales.”,

Messrs. Dalgety and Company, Ltd., report having received the following cablegram from their London house, under date of June 9:—"Frozen Meat: Market weak. Any change in prices is in favour of buyers. In view of congested stores and heavy quantity of arrivals and afloat yet to lie marketed there is likely to bo a fall in prices of frozen mutton and Jamb.”

FARMERS’ CONFERENCE CONTROL OF 1922-23 SEASON’S WHEAT. By Telegraph—Press Association. Christchurch, Juno 16. At the Farmers’ Union Conference a remit, that the "prcZerenco to unionists” clause in awards had outlived its usefulness, and shcnild be excluded from awards, was carried. With respect to the remit, "that the Government bo asked to continue Hie control of wheat for the 1922-23 season,” an amendment was carried that the matter be referred to branches, and that the South Canterbury and Otagfi executives be requested to act similarly. BUTTER AND CHEESE MARKET LONDON QUOTATIONS. London, June 9. The butter market is quiet, but unchanged. Cheese is flat. New Zealand white, 115 s. to 1165.; coloured, 106 s. to 110 s. Australian is nominally 100 s. to 110 s.; and Canadian about 98s. to 1045.— Aus.-N.Z. Cable Assn. BEEKEEPERS’ CONFERENCE OFFICERS ELECTED. By Telegraph—Press Association. Auckland, June 10. At the Beekeepers’ Conference, Mr. T. W. Kirk was elected president of the National Association, amid applause. Mr. T. Clark was elected'vice-president. Members of the executive were elected as follow:—North Island, Messrs. R. Hutchinson and A. R. Bates; South Island, Messrs. L. Irwin and W. E. Barker; secretary, treasurer, and editor, Mr. F. C. Barnes.

CANTERBURY MARKETS

By Telegraph—Press Association. Christchurch, June 10. According to merchants, there has been quite a stir in the local markets during tho past few days, a shortage of wheat Being the cause. It is stated that in spite of anticipations to the contrary, there will not be enough wheat on hand to fulfil all requirements. Consequently there is keenness to obtain ns much as possible right away. The recent reduction in tho freight on oats has livened up business in this connection. Pricm that lately have been obtained are beingkept up. This applies only to Gartons, which aro the only line wanted at Home. Chaff went up recently, in sympathy with oats, but the demand for both lines is poor, no shipping business being recorded at present. What little South Island seed there is going to the North Island, being shipped from Marlborough where the seed is said io bo much bettor than in Canterbury this yoar, and lower in price. Barley is described as practically dead Linseed lately has been showing signs of. life at increased prices,, consequent upon the morefiants overselling and having to pay higher prices to get the stock with which to fulfil orders. The business has only a local application, however It is stated that up to was paid during tho week for a line of linseed. THE MEAT TRADE Tn the "Statist” of April io'there is an article on the meat trade in which some not over-friendly words of advice arc given to Australia and Now Zealand, the text of tho article is a statement by Air. Massey that I he Now Zealand meat trade cannot tear the extravagant freights now charged for the conveyance of meat between Now Zealand and Britain. About the time that Air. Massey said Hus there appeared in a London newspaper a elegnun from Melbourne, announcing (but. ■'•no ship. British or foreign, will te per. milted to carry passengers or freight between Groat Britain and Australia un|'PSC it te licensed under the new Navigation Act, pays the crews Australian rata of and provide# tho prwwnb*

ed accommodation.” The "Statist” admits that Mr. Massey is not responsible for Australian actions, but says that; "Nevertheless the desire of Mr. Massey to reduce freight rates on meat, and the determination of the Government of the Commonwealth to maintain freights in accordance with the provisions of the Navigation Act, cannot be reconciled in any practical way.” COMMERCIAL ITEMS INVESTMENT SHAKES. A eale of Farmers’ Go-op. Auctioneering Co.’s preference shares at 18s. 3d. was reported yesterday. The Quotations were

CUSTOMS REVENUE. Customs revenue collected at- the nori of Wellington yesterday totalled £6468 13b. lid. EXCHANGE BATES. Australian-New Zealand Cable Association. London, Juno 9. ■Foreign exchange rates on London are ouoted as follows:-?,iris. 47.27 franca to £1: Stockholm. 16.89 kroner: Christiania., 25.60 kroner; 'Berlin. 254 marks; Montreal. 4.18 dollars; New York. 3.68 dollars: Calcutta. 154 d. to inpeo: Hong-Kong. 301 d. to dollar; Yokohama, 29sd. to yen. COLONIAL AND OTHER PRODUCE. (Rec. June 10. 6.5 p.m.) London, June 9. Wheat.—Quiet,, at about late rates. Hour.—Slow trade. Australian, ex store. 635. 6d.. 64a. Oats.— Steady. New Zealand, ex quay, 48s . Pens and Beans.— Quiet and steady. Sugar.—Declining. Granulated. 61b. PRICES OF METALS. (Rec. June 10, 10.5 n.m.) London, Juno 9 Copper.—On snot, £73 Ils. 3d. per ton; forward delivery. £73 13b. 9d.: electrolytic ingots. £77; wire-bars. £79. Lend—On snot. £23 7s. 6d. per ton: forward delivery, £23. Spelter—On spot. £26 15s. per ton; forward delivery, £27 15s. Tin.—On spot, £l6B 17s. 6d. per ten- forward delivery, £l7O 17s. 6d. Silver.—Bara. 35d. per ounce standard. MELBOURNE PRODUCE MARKET. By Telegraph-Press Association— Copyright Melbourne. Juno 10. Barley. English, 4s. 3d. to 4s. 4)d. per bushel; aCpe. 3s. 3d. to 3s. 4Jd. Oats., 2s. Cd. to 2s. 6d. per bushel. Potatoes, £4 to £5 ss. per ton Onions. £2 10a. to £3 per ton. 'ADVANCE IN PRICES OF HIDES. Melbourne. June 10. The hides mai ket is firm. There is an advance of Id. to 4d. all round. MINING NEWS WELLINGTON SHARE MARKET. The quotations yesterday for mining shares were as under:-' Buyers. Sellers. £ s. d. £ s. d. Talisman 0 6 1 — Walhi Grand. Junction ... — 010 9 STOCK EXCHANGE. By Telegraph—Press Association. Auckland. June 10. Sales—Bank of New Zealand. 465.: Talisman, 6s. 2d. Dunedin, June 10. Sales.-Bank of New Zealand. 455. 9d.; Westport Coal. 265.; Hjiddart-Parker. 41b. 6d. (two), 41s. 3d. (four). LONDON STOCK EXCHANGE. Australian-New Zealand Cable Association. London, June 9. Broken Hill, buyers 355. 7d., sellers 365. 2d.; North Broken Hill, buyers 245. 4(1., nellera 255. 3d.; South Broken Hill, 255. 4d.; Walhi Grand Junction. 9s 9d.

as follow :— Buyers. £ 6. d. .Sellers. £ s. d. Inscribed fitock. 1939 82 5 0 — Inscribed Stocky 1938 83 7 6 — Inscribed Stock. 1933 — 91 7 6 War Bonds. 1939 82 5 0 —— War Bonds, 1538 82 7 6 — War Bonds. 1930 86 10 0 87 10 0 Bank Australasia. — 82 0 0 National Bank — 5 10 0 Bank New Zealand 2 6 0 2 6 6 Abraham. Williams (ord.) 3 15 0 — National Marte- (London register) — 3 6 0 Well. Trust and Loan ... 5 0 0 —— National Insurance — 2 15 C N Z. Refriiieratlng (£1) 1 8 6 1 9 0 N.Z. Refrigerating (10s.) 0 16 3 0 16 7 1 12 6 Huddart-Parker (ord.) ... 2 0 9 2 16 P. A O. Def. Stock i 525 0 0 — Westport Coal 1 5 6 — Woina Coal 0 12 9 —— r.ovland-O’Brien Timber 1 6 0 — Colonial Sugar (Aust.) ... 24 0 0 — Wairarapa Farmers (pref.) 0 16 0 —