COMMERCIAL

Hawke's Bay Tribune, Volume XVII, 26 November 1927, Page 7

COMMERCIAL

LONDON WOOL SALES KEEN TONE PREVAILS. I OPENING RATES MAINTAINED. London, Nov. 24. At the Wool sales 9181 bales were offered of which 5234 were Australian and 3947 New Zealand. There was a splendid selection of merinos and a good selection of all classes of crossbreds. A keen tone prevails for all descriptions and competition was general. Opening rates were fully confirmed. Bradford spinners nre finding business slow, but topmakers are firmly maintaining prices. Sixty-fours quality are quoted at 52d. sixties 471 d. fifty-sixes 38Jd. fifties 29d, fortysixes 23fd. forties 22}d. Twelve bales of Wingadee wool in a new hemp-lined pack, invented by Airs Alary Baird of Sydney, were exhibited at the London docks wool floor. Buyers did not show- much interest. Some experts do not consider the pack likely to he a success. Tbev prefer Ackroyd's. —(A. and N.Z.) AUCKLAND AUCTIONS. RANGE OF PRICES Auckland, Nov. 25. The following is th« range of prices at the wool sale:—

LONDON SALES. Murray, Roberts ami Co., Ltd-, have received the following cablegram from their London bouse 1 : — Range of prices, 60/64’s N.Z. merino yielding 48 per cent; quotation, —; at close of September senes, 224 d; 56’s 60 per cent, —, 23d; 50's 65 per cent, 21d, j” 44/46 preparing 74 per cent, 1" , '6d; 44/46 carding 72 per cent, i .. 15id; 40/44 s 73 per cent, 15|d 13|[d; 36/40’s 75 per cent, —, 14i<t Poor selection of crossbred. The Department of Agriculture has received the. following cablegram dated 23rd instant from the High Commissioner for New Zealand,, London:—Wool sales opened yesterday with large attendance and good re presentative catalogue. Competition active. Merino principally taken by Continent and crossbred by Home trade, with good support from America for suitable lines. Compared with closing rates last series, best merino par and others 5 per cent dear er and crossbred (all grades') generally 10 per cent higher. 121,000 bales are available for the series, of -which 32,000 are New Zealand, 69,000 Australian and 4/000 South' American. BANK OF ENGLAND RETURNS. London, Nov. 24. The following are the Bank of England returns for tho week ended on

DAIRY PRODUCE PRICES Londcn, Nov. 24. Butter: Quiet; colonial a shade easier. Choicest salted, New Zealand 174/- to 176/-, exceptional 178/-, Australian 174/- to 176/-: unsalted, scarce. New Zealand 184/- to 192’-, Australian 181/- to 186/-; Danish reacted to 198/-. Cheese firm. New Zealand 99/- to 100/-, lew old 102/-.—(A. and N.Z.) AIEI’AL MARKET • London, Nov. 24. Copper: Standard and spot £5B 18/14, forward £59 3'l >. Electrolytic: Spot, £65 5/-, forward £64 15/-. Wire bars: £64 15/-. Lead: Spot £2l 7/6. forward £23 1.3'9. Spelter: Spot £26 11/3. forward £26 3/9. Tin: Spot £265 17/6. forward £263 17/6. Silver: Standard 26 9-16 d fine 28 11-lGd—(A. and N.Z.)

Merino— Average 235 to 25 Fine Halfbred— Super 231 to 261 Average 21 to 23 Medium Hall bred— Super 2i H to 22 Avera ere 19 to 201 Coarse Hall bred— Super 19 to 201 Average 1R to 19 Inferior 13 to 141 Fine Crossbred— Suner 17 to IR’ Average 15 to 171 Inferior J 3 to MJ Medium Crossbred— S II r) p r 16 to 17i Average 14 to 16 Inferior 124 to 14 Crossbred — Super 14 TO 15’ Average 121 to 14J Inferior 101 to 1? Low Crossbred— Suner TS1 to J U Average 11’ to 1 Inferior 91 to 111 Hoggets— Super 1« to 21 Fine 1 1 to 19’ ATndium Iff? to iQ-i Coarse 14 tn ini Lambs— Fine 151 to 1 ? ’ Medium 1 1 1 tn ini n nd inferior 9 tn 13 IWHes and Pieces— TTalfbred. suner ... i pi 1 0 <9’ Crossbred. good to suner 1 9’ tn Iff T.nw fn medium ioj tn 11’ Crutch ings— Medium to good in tn 11 Inferior to seedv HI tn «1 Looks— Crossbred 6 to Hl

Issue Department. Note circulation 135.214,000 Notes in reserve 34,653,000 Total 169,867.000 Government debt 11.015,000 Other securities 8.735.000 Gold and bullion 150.117,000 Banking Department. Proprietors’ capital .. /. 14.553.000 Best 3.239,000 Public deposits 16.761.000 Other deposits 97,772.000 Seven days and other bills 3,000 Government securities .. 40,985.000 Other securities 55.407.000 Notes in reserve 34,653,000 Gold and silver coin ... 1.283.000 Proportion of reserve tc ) liabilities. 31.40. Short loans are quoted at 3} per cent., three months' bills at 4 15-16 per cent.