GOOD WOOL PROSPECTS

Sun (Auckland), Volume II, Issue 515, 19 November 1928, Page 12

GOOD WOOL PROSPECTS

BRITISH TRADE REVIEW GILT-EDGED STOCKS STRONG RECORD WAR LOAN PRICE (United P.A.-~-Ry Telegraph — Copyright) (Australian and N.Z. Press Association) LONDON, Saturday. » Conditions on the Stock Exchange for the past fortnight have been much the same as in the prior fortnight. , The “shake-out” in speculative shares has continued, and prices of these have * generally declined. ' On the other hand, gilt-edged stocks r have gone from strength to strength, , a feature being the record price of the 5 per cent. War Loan, which touched l £lOl 17s 6d, ex dividend, which is - equivalent to £lO4 with the dividend. Four per cent. Consols and the 31 per cent .Conversion Loan have also been | particularly good, and the buoyancy of , these three stocks led to renewed talk ’ of an early Government issue, to meet the maturities that will fall due in LAST WOOL SALES ’ Everything points to a satisfactory * opening of the year’s last series of wool sales on Tuesday, and the general anticipation is that prices will be from 5 to 71 per cent, above the October closing rates. There have been coni siderable private sales during the past fortnight at about this level, and there - are indications of a broadening dei mand, as undoubtedly the position at * the manufacturing end of the trade, both at Home and abroad, shows some improvement. The strength of the primary markets of Australia, the Argentine and New Zealand is being reflected here, and users are beginning to abandon the hope to which they clung for some time of the possibility of cheaper wool in the near future. AUSTRALIAN ORANGES A thorough examination of the Esperance Bay’s 6,000 cases of. New South Wales Valencia oranges shows that the waste was not so serious as had at first appeared. It ranged from 3 to 8 per cent. Considering that the fruit was delayed two or three weeks after loading, owing to the strike, the result must be regarded as fairly satisfactory. Unfortunately the market is not good, for many South African oranges are still on offer, and the first arrivals of Spanish have been selling this week. Prices of the New South Wales fruit mostly ranged from 11s to 16s, a few smaller counts making 18s to 20s, South Africans fetching from 15s to 225. MARKET FOR EGGS This season’s first large parcel of Australian eggs, which arrived by the Esperance Bay, have been marketed this week, under somewhat difficult conditions, for although supplies of English and Danish new-laid are getting scarce, the mild weather on the Continent resulted in heavy shipments, and supplies from South Africa, the Argentine and Uruguay were also plentiful. Consequently the market is well supplied with eggs suitable for the 2d retail trade, and it has been no easy matter to sell Australians at the price asked, 17s 6d to 19s a 120, although the quality and condition of the Esperance Bay’s shipment were excellent, especially those from New South Wales. LONDON MARKETS FROZEN MEAT PRICES (Australian and N.Z. Press Association) LONDON, Saturday. Sheep.—Canterbury, light, 6 5-8 d ; medium, 6id; heavy, 6d; North Island, light, 6£d; medium, 6 l-8d; heavy, 5 7-Bd. New Zealand ewes, 4 5-8 d ; Australian firsts, 4id; seconds, 4§d; ewes, 4Jd; Argentine, light, 5 5-8 d ; medium, sd; heavy, 43d. Lambs.—Canterbury, light 10 l-8d ; medium, lOd; heavy, 9 3-8 d; seconds, B|d; other selecteds, light, 9 7-8 d; medium, 9|d; North Island, seconds, 84d ; Australian, other States, firsts, 9d ; seconds, 73d; Argentine, firsts, light BJd ; seconds, 7 3-Bd. Frozen Beef.—Australian crops, 4d ; hinds, 4 5-Bd. Chilled Beef.—Argentine, fores, 4 o-8d ; hinds, 6id; others unchanged. Cotton, Rubber, Hemp, Etc. (Last week’s prices in parentheses.) Cotton.—December delivery, 10.17 d (9.98 d) a lb. Rubber. —Para, 103 d (lid) a lb; plantation and smoked, 8 3-8 d (8 7-8 d) a lb. J ute.—November-December shipments, £3l 5s (£32 ss) a ton. Copra. November-December shipments, £24 17s 6d (£24 15s) a ton. Linseed Oil.—£3o 5s (£3O) a ton. Turpentine.—4Bs (445) a cwt. Wheat Wheat.*—Prices for cargoes are maintained, but demand is inactive. Pawcels moved slowly to-day at about recent levels. Liverpool futures: December, 9s 3 5-8 d per cental; March, 9s 4 l-8d ; May, 9s 4 3-Bd. COMPANY REGISTRATIONS One public and five private companies were registered in Auckland on Saturday. Details are:— Public Industrial Rabbit Breeders’ Co-opera-tive Association, Ltd. Business: To purchase, sell and breed rabbits and deal in skins. Capital: £2Ol, in 4,020 shares of Is each. Subscribers: L. R. Hayward, I, shares: E. Fitzgerald, 840 shares; F. J. Quick, 100 shares; H. G. Kendal, W. Hathaway, W. M. Gimson and J. K. Cousins, five shares each. Private Druggists Sundries, Ltd., indent agents and warehousemen. Capital: £2,000 in £1 shares. Subscribers: Edward Owen Lyell, 300 shares; William David Anderson, 1,700 shares. Ebbett Motors, Ltd., motor garage proprietors, Hamilton. Capital: £2,000 in £1 shares. Subscribers: Alfred William Ebbett, 1,998 shares; Robert Grant Anderson and Ronald Ebbett, one share each. Auckland Provincial Town Properties _ land and es tate agents. Capital: * n , £l shares. Subscribers: Charles Graham Alcorn and Eva Camelia Alcorn, 3,500 shares each. Mackie Furnishers, Ltd., cabinetmakers and joiners. Capital: £BOO in £1 shares. Subscribers: W. W Mackie F. S. Mackie, L. C. Mackie, and N. m’ Autsin, all of Te Aroha, 200 shares each" Civic House, Ltd. Business: Preparing building sites and constructing and altering houses, offices, etc. Capital: £5,000 in £1 shares. Subscribers: E li. Potter and W. W. Stanton, 2,500 shares each. THE DAIRYING INDUSTRY For the four months ended October 31 the output of the Bay of Plentv Co-op’ Dairy Association was 384 tons of butter compared with 320 tons during the corresponding period of last year. The company will pay out £23,572 to suppliers on November 20. The sum of £5,482 will be paid out to ' suppliers of the Bruntwood cheese factory , for butter-fat supplied during October. The Cambridge Co-op. Dairy Company I < will advance £31,500 for October butterfat compared with £30,780 for October of last year. At the moment the company's factories are working at high pressured !

1 LONDON MEAT MARKET , SMITHFIELD PRICES The New Zealand Meat Producers' | Board has received the following cablegram from its London office, dated No- | vember 16, advising Smithfield delivered prices averaged for the week ended that r date, as follows: New Zealand Wethers and Maidens. — Canterbury quality, selected brands, 561 b. and under, 6 5-8 d a lb: 571 b to 641 b., 6id; 651 b to 721 b, 6d. Other brands, 561 b and - under, 61d; 571 b to 641 b, 6 1-Sd; 651 b I to 721 b, sd. New Zealand Ewes.—64lb and under, 4 5-Bd. New Zealand Lambs. Canterbury quality, 361 b and under, 10 l-8d; 371 b to 421 b, lOd; 431 b to 501 b, 9 3-8 d; seconds, B£d; selected brands, 361 b and under, , 9 7-Sd; 371 b to 421 b, 93d; other brands, , second quality, 301 b to 321 b., average, S4d. Argentine Lambs.—First quality, 361 b and under, B£d. “ New Zealand Beef.—Ox fores, 3 7-8 d; i hinds, sd. Cow fores, hinds, 4id. Argentine Chilled Beef.—Ox fores, ; 4 5-Sd; hinds, 6^d. ■. Frozen Pork.—Porkers, 601 b to 801 b., 7d; Sllb to 991 b, 63d; 1001 bto 1201 b., 63d; Baconers, 1211 b to 1801 b., 7d. 5 Lambs.—Sales difficult owing to over- * supplies of all meat. J Mutton.—Trade slow at lower prices. I New Zealand Porker Pigs.—Market still ; overloaded with Home-killed. Demand is only poor, owing to unsuitable weather. i BUTTER AND CHEESE BOARD’S WEEKLY REVIEW The New Zealand Dairy Produce Board . has received the following market report - from its London office, dated November L 16, prices for the previous week being l ,shown in parentheses:— Butter New Zealand, salted, 172 s to 17Ss (172 s ' to 178 s). Deliveries New Zealand this 5 week, 1,200 tons. In store, 3,400 tons. First whey, 164 s (160 s); second whey, : 160 s (1545). , Australian: Salted, 168 s to 172 s (166 s , to 170 s); unsalted, 184 s (180 s to 184 s). Argentine: Unsalted, 174 s to 178 s (170 s to 1765); exceptionally, 182 s. 5 Danish: Spot, 199 s (196 s to 1975); f.0.b., ' 189 s (187 s). I Irish Creamery: Salted, 172 s (1725); un- ; salted, 180 s (1765). 5 Siberian: 162 s (158 s to 160 s). L Ukrainian- 164 s to 168 s (160 s to 1645). Market steady. Retail prices unchanged. Cheese New Zealand: White, 106 s to 107 s (106 s r to 108 s); exceptionally, 108 s; coloured, . 104 s to 105 s (104 s to 106 s), Deliveries ’ New Zealand this week, 9.050 crates. In ’ store, 19,000 crates. 1 Canadian: White, 110 s to 112 s (108 s to i 112 s); exceptionally, 114 s (114 s); col- ; oured, 108 s to 110 s (108 s to 110 s); ex--5 ceptionally (112 s to 114 s); c.i.f., October output, 101 s. ’ Market steady. Retail prices un- - changed. 1 English Finest Farmers’: 140 s to 142 s : (138 s to 140 s). MERCHANTS’ REPORTS , Merchants report receipt of overseas , cables as follows: ’ A. H. Turnbull and Company, from : 1 their principals, W. Weddel<fcnd Companv, Ltd., London, November 16: Danish butter, 1995; New Zealand salted butter, 172 s to 178 s; market steady. New Zea- ; land cheese, Avhite, 106 s to 107 s; col- ( oured, 104 s to 105 s; market steady. I Canadian cheese, white, 110 s to ll«s; coloured, 108 s to 110 s. ; Joseph Nathan and Company, from their London principals, Trengrouse and Nathan, Ltd. —Butter, 174 sto 178 s; ! cheese, white, 107 s; coloured, 104 s; both markets steady. » Amalgamated Dairies, Ltd., from their , London manager, under date 17th inst.:— “Butter: New season’s Anchor, 180 s; old , practically cleared; market firm and fairly active. Danish, 199 s spot; now advanced 1 198 s f.o.b. Deliveries New Zealand, 1,192 1 tons; stock, 3,400; retail Danish advancing 2s Monday. New Zealand unchanged, Is 1 . lOd. Cheese: Prices unchanged and mars I ket steady. Canadian, white, 110 sto 112 s; • coloured, 108 s to 110 s; exceptionally, 110 s j to 114 s; choice matured present c.i.f. quotations, Octobers, 100 s; Novembers, 98s. Retail unchanged.” MINING NEWS LUCKY SHOT. —The manager reports: “The drive south of the main reef off the bottom of No. 1 winze is out 12ft from the winze. The reef is 3ft wide, 1 is very' heavily mineralised and shows strong blotches of coarse gold through the whole of the ore broken out and some of it could be classed as picked stone. I In the low level we are at present putting in a couple of sets of timber where a fall bps t.p.ken place.” OH IN EM URI. —The manager reports: North section, No. 4 level. The south drive from the teluride level is in 156 ft in country rock. A further extension of 65ft will reach the Camoola reef, which is underlying toward the drive. No. 3 level: No. 1 winze, which is being sunk on the Camoola reef at a point 570 ft north of the Silverstream crosscut, is down 13ft in high-grade sulphide ore. This winze is in the southern section of the chute to which the drive from No. 4 level is being directed. Silverstream section: At a point 80ft north of the Julia crosscut on the Queen reef a winze has been commenced on good grade ore. This section will be operated upon from No. 4 level, and preparations are being made to open up blocks here in anticipation of the extension of that level. South section: The drive south from “F” crosscut is in 310 ft on the lode. A connection will be made in 45ft of driving, with the block opened up northward and southward of No. 1 rise. This block is ready for stoping.