COMMERCIAL.

Otago Daily Times, Issue 19473, 7 May 1925, Page 8

COMMERCIAL.

LONDON WOOL SALES. SHARP DROP IN PRICES. SERIES MAY BE CURTAILED. Messrs Dalgety and Co. report having received the following cablegram from their head office, dated London, May 5; —“The wool sales have opened, the attendance of buyers is large; fair selection; competition very irregular; withdrawals very heavy. Compared with laet sale’s closing rates — Merino wools, super, 15 per cent, lower; merino wools of other descriptions, 20 per cent, lower; crossbred wools, greasy, 30 per cent, lower; slipe and scoured wools, crossbred, 25 per cent, lower.” The New Zealand Loan and Mercantile Agency Company has received the following cablegram from its London bouse, dated May 5: —“Wool sales opened flatly; very little competition, mainly from France and Bradford; large withdrawals. As compared with March 20 (for small quantity sold) —Crbssbred wool 25 per cent, to 30 per cent., super merino 10 per cent, to 15 percent, other merino wool 15 per cent, to 20 per cent, lower.” The Otago Farmers’ Co-operative Association of New Zealand are in receipt of the following cablegram from their London office:—'“Wool sales opened to-day. Prices, ns compared with last London series, are — Merino 15 per cent, to 20 per cent, down; crossbreds, 25 per cent, to 30 per cent., down.” Messrs Murray, Roberts, and Co. .are m receipt of a cablegram from their. London agents, dated May 5, reading as under; “Sales have opened; large attendance of buyers; bad competition; heavy withdrawals. Merino, poor selection offered, declined IB per cent; fine crossbred greasy, declined 25 pier cent.; medium and coarse crossbred greasy, declined 30 per cent; crossbred scoured, declined 20 per cent to 25 per cent.” The National Mortgage and Agency Com pany has received a cablegram from their London office as under:—“The ouctiona opened hero to-day with a large attendance of buyers. There was a poor demand. Compared with oloso of last sales, wo quote; Greasy merino, best, 5d per lb lower; greasy merino, average, 6d per lb lower; greasy halfbreds, 50’s to 66’s, 7d per lb lower; greasy crossbreds, 48’s to 50's, 5d per lb lower; greasy crossbreds, 46’a to 48’a, 6d per lb lower; greasy crossbreds, 44’ e to 46's, 6d per lb lower; greasy crossbreds, 40's to 44’s, 6d per lb' lower; greasy crossbreds, 36’a to 40’e, 6d per lb lower. Slipe wool®, generally poor deman, about 5d per lb lower; quotations nominal. Immediate prospects very unfavourable. Sales will probably be curtailed.’ DAIRY PRODUCE. Messrs Joseph Nathan and Co. have received the following cable message from. London: —“New Zealand butter, 170 s; Now Zealand Cheese, 96s.’’ TAUPTRI COAL MINES (LIMITED). The twenty-sixth annual report of the Tau. piri Coal Mines (Limited) states that tho profit for the year, after making allowance for depreciation, was £ll,lßO Is Bd, to which has to, bo added a balance of £2051 16s 5U from the previous year. Dividends amount ing to £I6OO have been paid on preference shares, and an interim dividend of 9d a share, representing £4637 10s, has been paid on ordinary shares, leaving a balance to be dealt with of £7094 8s Id. The directors recommend a final dividend of 9d a share, amounting to £4537 10a, leaving £2556 10s Id to be carried forward PRICE OF GOLD.Press Association—By Telegraph—Copyright. LONDON, May 6. (Received May 6, at 8.15 p.m.) Gold is quoted at 84s lljd. The exchange rate on New York is quoted at 4 dollars 85? cents to the £l.—A. and N.Z. Cable. LONDON SHARE MARKET. Press Association—By Telegraph—Copyright. LONDON, May 5. (Received May 6, at 8.15 pjn.) Bank of New South Wales, £4O 2s 6d (ex div.); National Bank of New Zealand, 1475; Bank of New Zealand, £9O (ex div.) and 555; New Zealand Loan and Mercantile (ord.), £9O 10s.—A. and N.Z. Cable. CHICAGO WHEAT PRICES. Press Association —By Telegraph—Copyright. NEW YORK, May 5. Chicago wheat prices: May, 161 cent® per bushel; i July 1611; September, 144.—A. and N.Z. Cable. THE RISE IN STERLING. Press Association—By Telegraph—Copyright. NEW YORK, May 6. Sterling is quoted at 4 dollars 85J cento to the £l.—A. and N.Z. Cable. ESTABLISHED 1861. A Market for Poultry. Consign your Poultry to u*. We are buyers of all kinds. The weights must bo—viz.: Fowls, live weight 2Alb each and over; cockerels, livo weight 3Jib each and over; ducklings, live ■weight fib each and over; turkeys all weights. No commission, railage paid, crates supplied. Write lor quotations.—W. STEWART (LTD.), Fish and Poultry Merchants. Head office, 236 Princes street, Dunedin. ’Phones: Branch 1676; Head Office 1274—Advt.