MOTOR-CAR BURNED

Sun (Auckland), Volume 1, Issue 40, 10 May 1927, Page 3

MOTOR-CAR BURNED

« TAKEN BY JOYRIDERS FOUND AT TITIRANGI Another motor-car has been found burned after being stolen by joyriders. Late yesterday afternoon a valuable Austin car, the property of Mr. Herbert J. Woodridge, of Tuakau, was found destroyed on a clay road about 200 yards from the Titirangi Beach. It had been taken from Albert Street between 7.30 o’clock and 10 o’clock on Saturday evening. The discovery was made by a I Glover, taxi-driver, who went out . Titirangi Beach yesterday afternoon. The car was lying a tangled wreck on the side of the road. Evidently it had caught Are and had been abandoned by the joy-riders. This is the third car within two »onths to suffer a similar late.

LONDON MARKETS

SITUATION SUMMARISED WOOL PRICES REMAIN LEVEL By Cable . — Pr'ess Association. —G'eptpHjpfef LONDON, Saturday. The reduction of the bank rate a fortnight ago has had a salutary effect on the Stock Exchange and most departments are active and firm. Investment stocks especially have felt the benefit of cheaper money and have advanced all round, notwithstanding the flood of new capital issues amounting to over £20,000,000 in 10 days, most of which has been over-sub-scribed. Colonials have participated in the general demand and new scrips show a marked firmness, Commonwealth 5 per cent, bonds having advanced to three-eighths premium and New Zealand to five-sixteenths. There is now a pretty general belief that the bank rate will be further reduced to 4 per cent, in the near future. Many people expected a reduction this week, but were disappointed. Discount rates, however, have now got so low that the present *ls per cent, rate is ineffective, so it is surprising that the money market confidently anticipated an early reduction. NEW SOUTH WALES LOAN No information is available regarding the New South Wales conversion loan apart from the fact that £6,000,000 is repayable on June 1 and £5,000,000 on July 1. Flotation cannot be delayed much longer. WOOL SALES The wool sales are proceeding satisfactorily and prices seem to be established at a basis of from par to five per cent, decline as compared with last sales, and most people in the trade expect values to remain about this level. According to a wellinformed Bradford correspondent the outstanding fact in the position is that the sales made no detrimental impression upon the Bradford market. BRADFORD TOPS London rates for raw material are still relatively dearer than the late Quotations for tops, as there is no wool available at prices which would justify Q decline in quotations for tops. These nave been firmly maintained since the auctions opened, and there has been an improvement in bidding.

A strong impression exists that the sale will close with the best point of me series. The auctions may pro;ide the incentive required to bring °ut new business in tops and yarns, which the volume of current inquiry uidicates in the background.

APPLE PRICES The apple trade continues good, the nest Australians and New Zealands ®alising high prices, but unfortune ly a considerable proportion of the vj u ‘t Is not altogether satisfactory, any Tasmanians are only of modrate quality, being somewhat overBitter pit is much in evidence the West Australian as well as Tasan*an t especially Ribston’s and Cox’s. ere was a good demand for best PPles from the Continent, and excepG°nal Prices have been made at HamthJ S sales Importers consider that in prospects are satisfactory for trade Jni g00(l apples until the middle of a as dry weather in England : t * le Continent has been retardg the soft fruits which usually come competition with overseas apples.— and N.Z.