FIRMER PRICES AT DUNEDIN WOOL SALES

Sun (Auckland), Volume I, Issue 232, 20 December 1927, Page 16

FIRMER PRICES AT DUNEDIN WOOL SALES

DEMAND FOR FINER GRADES Press Association. DUNEDIN, Monday. The first wool sale of the Dunedin series was held to-day, when 20,000 bales were offered. Buyers were present from English and Continental firms and prices generally showed an advance on the Timaru and Christchurch There was keen competition for the finer grade wools. The sale had not been completed at midnight. The bench of buyers included some new operators. Following is the range of prices as far as the sale has gone.

FULLER-HAYWARD, LIMITED

DEBENTURES OVER-SUBSCRIBED Within a fortnight the issue by the £^n e nnn H f y 'fi ard theatre organisation of £ dO.OOO in 8 per cent, mortgage debentures has been over-subscribed. Subscriptions were first invited on December 5 and Wellington, with £35,000, gave the support. Auckand subscribed £12,000, Gisborne £IO,OOO, and other places offered a few thousands. The money is required to finance the buildNew Majestic Theatre in Wellington.

The placing of this debenture issue was carried out by Mr. G. S. Craig, sharebroker, Auckland. CHICAGO WHEAT By Cabin.—Press Association. — Copyright. Reed. 11.45 a.m. CHICAGO, Monday. Wheat.—December, 1 dollar 27$ cents a bushel; March, 1 dollar 293 cents; May, 1 dollar 31.1 cents.—A. and N.Z. MINING NEWS MAORI LAND.—The manager reports: “During the week ending December 17 preliminary work was done at the intermediate level, and a start made to drive north-east from a point 15ft north of the main pass. Four feet was driven in a mild class of blue country underlaying to the east. At present the ground requires timbering, but it shows signs of getting firmer, and may make into quartz shortly. Assay results received from the School of Mines are: No. 1 blue country and quartz, £1 2s 6d; No. 2 blue country and quartz, £73, 2s 7d. These are two samples (not picked samples) taken in the ordinary way.

OCCIDENTAL-UNA. —The manage) reports for the period ended December 17; The drive from the crosscut on No. 1 reef has been advanced six feet south. Connection has now been made with the old level, and the quartz broken shows strong dabs of gold. From where the reef was struck in the crosscut back to the rise in the south end now makes a distance of 125 feet. This is all on the No. 1 reef, in virgin country, ready for stoping. The country in the south end is particularly good, and dabs o f gold show ia the quartz broken during the week.

LONDON MARKETS OFFICIAL QUOTATIONS Reviewing London markets under date December 17, the High Commissioner for New Zealand cabled as follows: Apples Supplies of good quality apples are light, but there is only a fair demand. Current prices are:— British Columbian: Jonathan, 9s to 13s a box. American: Jonathan, 5s to 10s a box; Delicious, 12s to 14s; Rome Beauty, 10s 6d to lis. Oregon: Newton, 14s to 18s. Californian: Newton, 11s to 12s 6d. Eggs There is fi steady demand for all qualities of eggs. Present quotations are:— English, Danish, Dutch, and French: 22s to 26s a long hundred. Australian and Belgian, 17s 6d to 21s. South African: 15s to 19s. Argentine: 16s 6d to 17s. Russian, Poli. h, and Egyptian: 9s to 13a 6d. Wool In Bradford wool circles new business in tops and yarns is very quiet, and topmakers and spinners are cautious. Sellers’ quotations for tops are:— 64 s (Merino), warp 4s 5d a pound, average 4s 4d a pound. 56’s (.super halfbred), 3s 3id a pound. 50’s (halfbred), 2s 2£d a pound. 40’s (prepared), Is 10id a pound. Hemp The Manila market is easier. J grade, January to March shipments, sold at £4l, and December to February shipments are quoted at sellers £4l 10s. The output from January 1 to November 30 was 1,174,000 bales, against 1,160,000 for the same period of last year. Stocks in Manila on November 30 were 174,000 bales, against 150,000; in Great Britain, 7,246, against 6,428. The sisal market was active early this week, and No. 1 December to February and January to March shipments touched £37 10s; No. 2. £36 10s. Buyers were holding back at the close, and with more sellers, the market is quieter. Quotations are £37 and £35 15s. For New Zealand hemp, the market is quieter, and demand confined to small lots afloat. Shippers are offering more freely, but there are s'econd-hand sellers at somewhat lower rates. Closing values for December to February shipments are high-points £34 10s, fair £33 ss, and common £32 ss. Tow, second grade, £22 10s, and third grade £2O. Stocks in London on November 30 were 66 tons, against 12 tons last year.

FRENCH COAL IMPORTS EMBARGO LIFTED By Cable.—Press Association. — Copyright. PARIS, Sunday. The embargo on the importation of coal into Franco has been lifted.—A. and N.Z.-Sun. A decree issued on May 25 prohibited the importation into France from June 1 of coal, coke, lignite and patent fuel, except under licence. The operation of the decree was subsequently postponed until June 10.

ADVANCES ON BUTTER-FAT N.Z. DAIRY CO. FIGURES (Special to THE SUN.) HAMILTON, To-day. The New Zealand Co-operative Dairy Company, Ltd., is making an advance to supplies on November butter-fat on a basis of Is 2d for butter and Is 4d for cheese. Last month’s advance to suppliers by this company was based on Is' 4d a lb. for superfine butter-fat. The total payment made on November 20 was £495,426. CHEESE POOL PAY-OUT

£112,547 TO SHAREHOLDERS (Special to THE SUN.) NEW PLYMOUTH, Monday. Including the bonus from last season’s cheese pool, which lias x*ecently been made available by the Dairy Produce Board, the November pay-out to the shareholders of 19 dairy companies with their headquarters in New Plymouth, which is now being made, amounts to £112,547. The bonus from last season accounts for £14,983. The factories have all shown an increase in production and while the flush season’s output is not very much higher than that for the same period of last season, October and September proved to be very prolific months. The pay-out is about Is 5d a lb butter-fat.

SOUTHERN EXCHANGES Wellington.—On ’Change: Taranaki Oilfields, 9s lOd; Bank of New Zealand, £2 IDs. BUTTER AND CHEESE A. S. Paterson and Co., Ltd., advise receipt of the following cablegram from their London principals, J. and J. Lonsdale and Co., Ltd.— “Butter steadier, 15Ss to 160 s; cheese weak, S9s to 905.”

COMPANY REGISTRATIONS Yesterday two private companies were registered in Auckland. Details are:— Green Mill Co., Ltd., theatre proprietors, entertainers, etc. Capital: £3,000, in £1 shares. Subscribers: Algernon Phillips Withiel Thomas, 2,997 shares; Lionel Lawrence Speedy. Blanch Smith Thomas and Norman Russell, Withiel Thomas, one share each. Doree and Sache, Ltd. Objects: To acquire the business of commercial photographers carried on by Doree and Sache. Capital: £I,OOO, in £1 shares. Subscribers: Edward Hickmott Sache and Tom Herbert Doree, 500 shares each. TARANAKI OILFIELDS, LTD. The Taranaki Oil Fields Co., Ltd., reports that the Waiaupau No. 2 well is down to a depth of 2,810 ft, with an Slin diameter casing to 2,Sooft. There is no change in the formation. The Gisborne No. 1 well Is down a depth of 1,925 ft in sand, with an BJin diameter casing to 1,905 ft. At the Gisborne No. 2 well transport is in progress but delayed by rain.

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