POOR DEMAND FOR RAMS

Sun (Auckland), Volume III, Issue 887, 3 February 1930, Page 10

POOR DEMAND FOR RAMS

HAWKE’S BAY FAIR Press Association .HASTINGS,. Saturday. The Hawke's Bay ram fair ended this morning with a sate of Romney and Southdown studs. The bidding for Romneys was fair. The top price, 55gns, was bid for a shearling sold to Mr.. Fred Douglas, of Elsthorpe, on account of tV. Perry and Sons, Masterton. Eighty guineas was the top price for Southdowns. that amount being paid for a shearling sold on account of Mr. W. J. Gimblett, of Hastings, to Thompson Brothers, of Hastings. Bidding for Southdowns was , Poor, many lines being passed :in. Only one pen of stud ewes was offered. WOOL MONEY PAYOUT Prompt date for the Januan- Auckland wool sale has been fixed for tomorrow. Distribution of money due to woolgrowers will take place immediately. Figures have not yet beer. compiled to give an accurate estimate as 1o the total amount to be distributed, owing to the heavy withdrawals from the sale, and the lower price, ’t is not expected that the total sum will exceed £ 16,000. STOCKHOLDERS DISPLEASED LONDON, Sundav. I The -Observer" says the holders of ! Australian securities are suffering i from exaggerated pessimism. It seems certain that the average rate of interest for the maturing internal debt must be raised to 6 per cent, in order to find the replacement money. This naturally has depreciated the value of existing stocks, but the clouds will pass. Holders of securities would therefore be ill-advised to throw away their investments at the prevailing prices. LONDON WOOL SALES ► Kecd. 10.15 a.m. LONDON, Friday. At Thursday s wool sales 6.169 bales were sold, of which 1.956 were from New Zealand.