IN SELLERS’ FAVOUR

Dominion, Volume 28, Issue 90, 10 January 1935, Page 12

IN SELLERS’ FAVOUR

Sydney Wool Sales VERY KEEN COMPETITION Bv Telegraph. —Press Assu. —Copyright. (Received January 9, 10.10 p.m.) Sydney, January 9,_ At the Sydney wool sales to-day 11,658 bales were offered, of which 11,143 bales were sold at auction, also 1641 disposed of privately. Under very keen and well distributed competition, the market continued to reproduce all the best features of former sales, with the trend still in sellers’ favour. Japan. Yorkshire, France and Germany were the chief operators. Excellent clearances were effected. Greasy merino made IGd. London Wool Sales London, January 8. Wool available for the series of sales on January 15 amount to 196.600 bales, including new arrivals of 60,009 bales Australian and 16.500 bales New Zealait‘ is expected that 162,000 bales will be catalogued. Murray, Roberts and Co., Ltd., are in receipt of the following cablegram from their London agents, dated January S:The following vessels have arrived in time for the consignments of wool by them to be offered in the next series: Tamaroa, Waiwcra. r . . , Dalgety and Company, Limited, report J For the sales opening on January 15 the list of arrivals closed on January 7. The following vessels in which we are interested have arrived in time for the sales Tamaroa. Waiwera. Our selling dates are as follow:— January 10, January 17, January 24, January 29, February 4, February 6. The sales close on February 6. BASE METALS MARKET Sharp Rise in Tin By Telegraph.—Press Assu. —Copyright. (Received January 9, 8.50 p.m.) Sydney, January V. The official London (middle) quotations for Tuesday, as reported by the Australian Mines and Metals Association, compare as under with those previously cabled

Standard, per oz. .24 9-16(1. 245-16(1. Fine 261 d. 26jd. 50.50 cents a lb. i COPPER PRODUCTION Restriction of Exports Considerable preliminary work is being done among copper-producing interests to formulate proposals for restriction of exports, to be submitted to an international conference, according to a New York report. It is understood that the American group is willing to agree to the curtailment of exports to one-third of the current rate if foreign producers will reduce their output by 25 per cent. The world stocks of refined copper on November 1 totalled 9i5,009,0001b., j*f which American stocks amounted to 747,000,0001 b. The apparent consumption of refined copper during October was 50,000.0001 b. American, and 184,000.0001 b. foreign. Mine production ill the United States amounted to 40.000,0001 b.. and in foreign countries to 163.000,0001 b. Production from scrap metal in the United States totalled 22,000,0001 b., and in foreign countries, 11,500,0001 b. LIFE ASSURANCE FIRM Liquidation in Australia At an extraordinary general meeting of the Commonwealth Life Assurance Society, Limited, held in Sydney, it was resolved that the company be wound up voluntarily. The society is a holding company in the Common wealth Life (Amalgamated) Assurances, Limited, which was formed as a result of its amalgamation with the Citizens’ and Graziers’ Life Assurance Company. Limited, in 1926. As the Commonwealth Life Assurance Society, Limited, had novated all its business and policies to the Amalgamated Company, and was now only a shareholder in the Amalgamated Company, it was considered by the directors that no purpose was served by its further functionin'- The liquidation of the Commonwealth Life Assurance Society, Limited, in no wav affects the business of the policyholders of the Amalgamated Company. The Hemp Market Reporting December 3, Wigglesworth an<f Co.. Ltd.. London, stated that in the absence of offers from the Dominion there was no change in value.) of New Zealand hemp and tow. “Supplies are mainly cold to home consumers find to Australia at higher levels than European spinners are willing to pay. Values, DecemberJanuary shipment, e.i.f. London _basis, remain nominally: Good fair. £l7 per ton; high point fair. £l5: fair. £l4; common. £l2/10/-: No. 2 tow. £10: No 3 low. £9/10/-." Pastoral Companies’ Stocks By Telegraph.—Press Assn.—Copyright. London. January 8. Dec. 11. Jnn. 8. £ s. (I. £ s. d. Dalgety & Co., shares 7 0 0 612 6 Dalgety & Co.. 4 p.c. debenture stock . 101 10 0 103 0 0 Goldsbrough. Mort & Co., ord. shares — 1 3 9 Dividends and Calls Dividends- Due. Bulolo Gold Dredging—interim, 90 cents Canadian, less lax of '5 p.c lan. 10 Mount Morgan—int., Gd. a share Jan. 10 Placer Development—interim, 1 dollar 80 cents Canadian. less tax of 5 p.c Jan 10 N.Z. and River Plate Co.—3 p.e. for year lan. 15 Kuala Lumpur Tin. lid. n share Jim. 25 Union Bank—interim. 2/6 a share lan. 30 A. I’. Assurance —2} p.e Feb. 5 Commercial Bank of Aust.— interim, pref. 4 p.c. p.a.; ord. 15 p.c. p.a Feb. 8

.Tan. 7. Per ton. •Tan. 8. Per ton. Copper— £ 28 s. 15 d. 74 £ 28 R. 1.3 d. 14 Standard, forward 29 4 4i 29 <31 1 104 .♦Electrolytic ♦ ••• to 32 6 0 15 0 Wirn hars 32 5 0 32 <> 0 Lead— 10 .3 9 .10 3 9 Forward ••••••• 10 10 0 10 10 0 Spelter— 12 0 0 JI 17 6 12 6 3 12 & 0 Tin— •228 17 230 IS 9 Forward 228 7 6 228 11 3