THE WOOL MARKET

Dominion, Volume 28, Issue 85, 4 January 1935, Page 12

THE WOOL MARKET

Second Wellington Auction

NEXT MONDAY’S OFFERING

The New Zealand wool market will be tested again next Monday, when the second Wellington auction of the 193435 reason will be held in the Town Hall starting at 9 a.in. The total quantity catalogued lor this sale, the first of the new year, is 26.434 bales. The limit liked by the New Zealand Wool Committee for this sale was 28,000 bales, but some growers are not prepared to meet the market, so that the actual offering is 1566 bales short of the limit. Brokers’ offerings in the order of sale are as follow: — Bales Wairarapa Farmers’ Co-op. Association 1194 Abraham and Williams and Wright, Stephenson 2757 Dalgety and Co., Ltd 4180 Murray, Roberts and Co., and Johnston and Co 4600 Levin and Co., Ltd. 7035 N.Z. Loan and Mercantile Agency Co 3505 N.Z. Farmers’ Co-op. Distributing Co 3103 Total bales 1.. 26,434 No.material change in prices is expected at next Monday’s sale. There has been a firmer ton in the Bradford market during the last two or three weeks, but the local brokers do not anticipate much change in the . market here, which will probably be firm on December rates. It wifi be recalled that the January sale at Wellington last year was a sensational one, prices reaching the peak o_f the season. The offering was 31,465 bales, of which 31,413 bales were sold, only 52 being passed, in, this representing a clearance of over 99 per eent. The average price per bale was £2O/5/B}, compared with £7/0/7, ami the average price per lb. 13.333 d., compared I with 4.695 d. for the Wellington January sale of 1933. The total gross realisation for the January sale last year was £637.222. LONDON TALLOW SALES Advance in Prices London, January 2. Tallow sales: 484 casks were offered and 350 sold, at mostly 1/- per Cwt. dearer on last sale rates. Quotations: Mutton, fine 22/6, medium 19/6; beef, fine 23/3, medium 19/-. The Bank of New Zealand, Produce Department, 'has received the following advice from its London office under date January 2: —Tallow: There is a good demand. Current'Quotations: Good mutton, 21/6 to 22/- per cwt.; good beef, 21/6 to 22/-; good mixed, 21/6 to 22/-; gut, 18/- to 19/6. The New Zealand. Loan and Mercantile Agency Co., Ltd., has received the following report, dated January 2, from its London house: —Tallow (quotations at 5/12/34 in parentheses) : Fine mutton, 22/6 per cwt. (21/-; good beef, 22/6 (21/6); mixed, 22/6 (21/6). Market firm. BASE METALS. MARKET Little Change in Prices By Telegraph.—Press Assn.—Copyright. (Received January 3, 8.15 p.m.) t Sydney, January 3. The official London (middle) quotations for Wednesday, as reported by the Australian Mines and Metals Association, compare as under with those previously cabled:—

LEWIS BERGER & SONS, LTD. Increased Profit Shown Accounts have been issued for the twelve months ended July 31, 1934, of Lewis Berger and Sons, Ltd., makers of paints, varnishes, colours, distempers, and other products, who have subsidiaries manufacturing in France, South Africa, Australia, and New Zealand. Net profit amounted to £102,460, an increase of £28,055, over the previous year’s figures. To the extent of £15,560 the increase is duo to larger dividends from the subsidiary companies, all of which earned a profit. Preference dividend requires £28,000. Final dividend of 6 per eent. proposed on the ordinary shares will make 10 per cent, for the year, or 21 pel’ cent, more than for 1932-33, and £75,069 will remain to be carried forward. Holdings in subsidiary companies increased in the year from £696,394 to £702,782, stocks from £133,959 to £143,392, and cash from £8219 to £18,978. Capital paid up is £927.275. and the reserve is £lOO.OOO. FROZEN MEAT TRADE London Market Firm The Bank of Australasia has received the following cable dated January 2 from its London office: —New Zealand lambs: Demand satisfactory for the time of year, prices steady owing to small suitplies—expected to remain so until larger shipments arrive. New Zealand mutton : Owing to smallness of forward shipments ■prices advanced sharply, and this is likely to affect demand, bnt no material change in values expected in the near future. New Zealand beef: Demand good, prices firm, no material change anticipated. DAIRY PRODUCE London Butter Market Firm The New Zealand Producers’ Co-opera-tive Marketing Association’s weekly cabled market report from London dated January. 2 is as follows:—Butter market firm. New Zealand, finest grade, 77/-; first grade, 76/-; Danish, 120/-. Cheese market firm. New Zealand white, 47/6 to 48/-; coloured, 48/-. The New Zealand Loan and Mercantile Agency Company, Limited, have received the following advice from their London house da(ed January 2:—-Dairy produce (quotations at 20/12/34 in parentheses) —Butter: N.Z. choicest salted. 76/- to 77/- per cwt (69/- to _7O/-) ; market slow. Cheese: White, 47/- per cwt. (43/-) ; coloured, 47/- per cwt. (43/-); market is weaker.

Dee. 31. Per ton. •Tan. 2. Per ton. Copper— £ s. (1. £ s. d. Standard 28 8 3 28 7 0 Standard, forward 28 14 41 23 15 7i •Electrolyti'e 31 10 0 31 10 0 •to 32 0 0 32 0 0 32 0 0 32 0 0 Lead— Spot 10 13 9 10 5 0 Forward 10 8 9 10 11 3 Spelter— Spot * 11 17 0 13.0 0 Forward ........ 12 12 6 12 6 3 Tin— f.Spot ............ 238 10 0 228 8 9 Forward 228 G 3 228 6 3 Silver — Standard, per oz. 245-8d. 245-Sd. Fine 269-lGd. 209-lGd. ♦American 9 cents a lb.