THE GROWTH OF WOOL

Sun (Auckland), Volume 1, Issue 74, 18 June 1927, Page 14

THE GROWTH OF WOOL

RESEARCH URGED

ROMNEY BREEDERS MOVE

Press Association. PALMERSTON NORTEC, Friday.

The annual meeting of the Romney Marsh Sheepbreeders’ Association was held yesterday.

A resolution was passed requesting the Government to allocate money, either from the Consolidated Fund or the proceeds of the Howard Estate, which was left to the nation for educational purposes, to the Agricultural College Council, so that it might appoint lecturers to deal with the growth of wool, the lecturers to be available to address meetings of farmers on the subject.

The resolution followed a statement by Mr. J. E. Hewitt, of Mangamaire, the president, that the association had offered the Scientific Research Council a subsidy of £IOO for three years for wool research and for educating farmers.

The following officers were elected: President, Mr. Q. Donald (Featherston); treasurer, Mr. W. F. Jacobs (Kiwitea); council, Messrs. G. E. Allen (Masterton), Jas. Knight (Feilding), J. H. Grigg (Canterbury), W. K. Morton (Silverhope), and R. Tanner (Longburn).

LONDON MARKETS

BANK OF ENGLAND RETURNS

By Cable. —Press Association.—Copyright LONDON, Thursday.

The Bank of England returns for the week ended June 16, as compared with those for the week ended June 9.

SHORT LOANS AND BILLS Short loans, per cent., same as last week; three months’ bills, 4 3-8 per cent., same as last week. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with Jhose of June 9. Price. Variation.

FOREIGN EXCHANGES The following rates on foreign exchanges are current to-day. as compared with the cabled quotations on June 13. and par: June 16. June 13. Par Brussels, belga .. 34-96 vr'voc. Paris fr .... 124.00 124,00 wO.w-5 Stockholm, kr .. 18.13 is‘77 il’llq Oslo kr 18.79 18.77 18.159 Copenhagen, kr. .. 18.15 18.17 on‘l*» 9 Berlin, r.m. .. 20.49 |0.4 ; . Rome lire .. .. 87.55 88.13 25.2_j0 Calcutta. pence 17 15-16 17 7-8 24 Yokohama, pence 22 15-16 22 15-16 24i Hongkong, pence 241 "41 Montreal, del. 4.86 1-16 485 11-16 4.860 New York, dol. 4.80 11-16 4.55 21-o2 4.86 b Amsterdam, fl. J? }?* I J 2 -,'J 2 - s a ß i J 2 i n J Batavia, fl. • • 12.12 12.12 o-S 12.10 METAL MARKETS (Quotations on June 13 in parentheses.) Copper.—Spot, £53 16s 101 d (£54 Is 101 d) ; three months, £54 9s 4*d (£54 14s 4£d). Lead.—Spot, £23 18s 9d (£24 8s 9d): three months, £24 10s (£24 15s). Spelter.—Spot, £2B 15s (£2B 13s 9d); three months, £2B 12s 6d (£2B 12s 6d). Tin. —Spot, £294 11s 3d (£295 Is 3d); three months, £286 2s 6d (£286 18s 9d). „ Silver.——Standard, 26 7-16 d (26, 3-Sd) per oz.; fine, 28 9-16 d (28 7-16 d). BRADFORD TOFS On the Bradford tops market the tone is slightly improved, but business is still very small. Quotations: —Sixtyfours, 46&d; 60’s, 42&d; 56’s, 34d; 50’s, 26id; 46’s, 21£d. WHEAT, FLOUR, ETC. Wheat. —Cargoes are depressed and prices nominally unchanged. Parcels are in small demand, and occasionally declined 3d. Liverpool futures:, July, s 2id per cent:?!; October. 11s 0 3-Sd; 19s IT ’. The spot trade i: 425. Oats, Peas and Beans.—Quiet tendency. Flour.—Slow. Australian, ex store, quiet with an easier tendency. Sugar.—Granulated, 30s 7ld.

are as follow: — June 16. June 9. v £ £ Note circulation .. 136,500,000 137,333,000 Coin • 152,110,000 152,110,000 Reserve 35,360,000 34,527,000 Govt, deposits 10,113,000 12,550,000 Other deposits 9 7,923,000 102,389,000 Govt, securities .. 50,386,000 52,586,000 Other securities .. 49,162,000 45,606,000 Proportion of reserve to liabilities 30.20 30.00

;£ iS d. d. Consols, 21 per cent. .. 54 0 0 5 0* British 35 War Loan . 99 17 6 British War Loan 100 10 0 Conversion Loan, 3| . 76 0 0 7 6* Com’wealth, 55, 1922-27 98 0 0 5 ot Com’wealth, G, 1931-41 103 7 6 5 0* Victorian, 3, 1929-49 . 70 17 6 2 6* Victorian, 31, 1929-49 .. 76 17 6 7 6* Victorian, 55, 1930-40 . 102 0 0 7 61" Victorian, 5, 1932-42 98 15 0 10 ot 95 0 •0 Same N.S.W., 4, 1933 .. .. 92 12 6 5 ot N.S.W., 3, 1935 .. .. 74 15 0 7 61 N.S.W., 35. 1930-50 84 5 0 10 ot N.S.W., 53, 1922-32 .. 100 17 6 Same N.S.W., 6J, 1930-40 .. 104 2 6 2 6f N.S.W., 6, 1930-40 .. 101 12 6 Same Queensland, 35, 1930 . 94 10 lo Queensland, 3, 1922-47 , Queensland, 6, 1930-40 . 70 102 5 15 0 2 2 6* 98 2 6 Same 86 New Zealand, 5, 194o 15 108 17 6 61 S. Australia, 35, 1939 83 0 5 S. Australian, 3, 1916 59 0 0 Same 104 5 0 5 0* Tasmania., 35, 1920-40 83 0 * 0* 15 6 W. Aust., 6, 1930-40 . 100 fHigher. ♦Lower.