SYDNEY SALES' FIRM RATES,

Evening Post, Volume CXIV, Issue 90, 13 October 1932, Page 14

SYDNEY SALES' FIRM RATES,

'; . . SYDNEY, 12th October. At the wool sales to-day 11,614 bales f.. ..were offered, of which 10,406 were sold at' ; auction, 857 being disposed of privately. ■;.■ ■ Good competition prevailed, and the ;„-market maintained firmness; but there was •;. some irregularity in regard to ordinary !- -and inferior fleece wools. Greasy merino : made up to 18Hd. .

.Cabled advice dated 12th October Has -been received by Messrs. A. HI Turnbull " -and Co:, ltd., from Messrs. W. Weddel and Co., Ltd., London, as follows:—"Danish better, 112s to 114s per ewt; New ■.■-. finest, 103s to 112s; Kangaroo • '/Australian), 98s to 101s; market weak, ~.- c aeclining. New Zealand white cheese, 65s to 66s per cwt; New Zealand coloured cheese, 59s to 61s; market quiet." • ■ ' The New Zealand Loan and Mercantile ,:i/;Co. has received the following advice from ';■ ; its London house, dated 12th October:— ■•■ '"Dairy produce: Butter—New Zealand ■, .choicest salted, ,110s per cwt; first grade, ";~ 102s to 104s; very slow. Cheese, white •. ;65s to 65s 6d per cwt; coloured,#os to 61s; . market quiet." ■.;;■' Messrs. Joseph Nathan and Co., Ltd., -• "are advised by Messrs. Trengrouse and ~. -Nathan, Ltd., London, dated 12th -I. "October:—"New Zealand butter: Nominal. ■; Finest, 112s per cwt. Firsts sold to-day .down to 100s per cwt; no business doing."

' ' A substantial improvement "was re- ; ported in the turnover of David Jones', - rLtd., the big Sydney drapery house, dur« . - ing the year ended 31st July last, and the -outlook for the' ensuing year is most en--couraging. Net profit of £72;05<5 con- . :-feasted -with £49,975 in the previous year, ' and with £73,742 in 1929-30, and was equal ■ to 8.178 per cent, on ordinary capital .. after providing for preference dividend. In view of the big improvement in earnings, payment was made of 5 per cent. ordinary shares 'compared with 4 per cent. ,3ast year and .7 per lent, for 1929. Total dividend disbursements amount to V ,£52,984, leaving £56,784 to be called for- : -ward, against £37,712 brought in.

Considerable interest has recently been shown in the outlook for rubber. As in.dicated by available statistics, world stocks of the commodity have fallen during the past few months. This development is attributable to the fact that production has fallen off to a greater extent than consumption. During the sis months January-June 1932 estimated shipments, from all producing countries showed a drop, as compared with 1931, ■ o| 41,000 tons. Woi^d consumption, on the other hand, had fallen by only 6500 tons. That the position in America is on the mend is suggested by the figures of the American tire trade for the first six months of 1932. These show "that produc- ■ tion of tires has fallen by 16.2 per cent., .whereas consumption has declined by less than 1 per cent. Stocks of tires have had to be drawn on, the total for the six laonths showing a decrease of no less than 653 per cent.

MARKET WEAKE1

IGGER DRAPERY TURNOVER.

UBB