BANK OF NEW ZEALAND.

Taihape Daily Times, Volume XI, Issue 3388, 17 January 1920, Page 6

BANK OF NEW ZEALAND.

PRODUCE CIRCULAR- . . LONDON, Nov. 21. 'Wool‘.——The seventh series of public sales of Government W00l5‘: Which opened on the 27th ultimo, closed on the 15th inst. There was no falling ofi in attendance at these sales, and: competition was as animated as ever. Sensational prices were :1 conspicuous feature of the series, and buyers are apparently prepared to pay almost any priceifor the wool they urgently require. The demand has been extraordinary for almost every = class. of wool, and the extremely high range of values indicates. a greater boom -in ‘WOOI, . It was, not anticipated that there would be a renewal of the upward movement in so pronounced :1 way ‘before the elose of the year, having regard to the present and prospective supplies of colonial wool, but apparently the commodity is not being put on the market: fast enough to check the extreme prices, which are now becoming dangerously high. Trade: requirements are colossal, but in view of the» world-wide shortage, manufacturers are eager to replenish their stocks, which were exhausted during the prolonged! struggle, in addition to which they‘ have to endeavour to meet the demandi for ordinary consumption. The sales closed with a very firm tone, and all classes of merinos, compared with the previous sales’ rates, show 9, rise of 10 to 15 per cent. Crossbrcds of medium to fine growth are also quoted 10 to 15 percent higher_.i while coarse descriptions depreciatedfully 7} to 10 per cent. 1‘ During this series 60,422 bales ‘have been offered on description. Practically 3 the whole of these were disposed of at about 5 per cent below the rates cur-* rent at the inspection sales. . The following range of current} prices for wools of average conditionl will,’ give an idea of to»day’s values:— New Zealand, . Per lb. ~ d. (1. Merinos, o'o/645 quality Halfbreds 56/58s "quality .. 46 to 52 X~ibreds, fine 50s quality .. —lo.to 46 _Do._v_ medium, 4-1/46s quality 27 to ‘.33 Douccarse, 36/40$ quality .. 22 to 25 Specialties are worth considerably more.

The following" opening dates have been provisionall_y fixed for the public aucticns in London during 1920,\_vj.z: February 9th, March 15th, April,.‘l9th, May 31s't, July sth, August 16‘qh, September 20th, October 25th, andll\’dVember 29th. _ __

Sheepskins ‘)('woolle'd).——The i'oul‘th public saie of_bGovel'nnlen: Austv.'aliall sheepskins took place on 20th. inst. There was aelarge ‘attendance of buyers, and with good colllpetitio_n,«~_,r;}l-e whole of the. quantity. ofTm'ed \\'e}.s sold. .‘ 7 .~ A

P.-ricc-s:fol' all woqlled skixgs w,el_'e considerably dearer. t)s,ez;.,«a_<3:\'allce amounting to about 15 per cent on merinos and fine ci'ossbl'e<ls, ten per ce‘n{ on 111(1c}iun1-,1‘r;a;11z1<.’ 5 per c‘c.llfr"O*:%l¢. coarse crossbreds'. A: ~ .. '2-22; ;

Short; and Shorn descriptions .._.soldj with great irregl'llnrity.‘;;and.whsilefsome t of the good-conditioned parcels were 10 per’? 'c'eli‘tr-3 de'é.ll'er,"7-ilife‘rii9l'7‘7éiitl damaged lots frequently realised no more ahari’l;xs-"t’ sales’ p;’ii.~ity.-' ' 2'": ' '-"1' 1‘ I>elts.—Thet’-‘n%v‘rl‘c:bt?.."2s quite‘: steady J at prices which are practically unchanged. Most of the business do'he’l has‘ been with America, the deniandu from the Home trade being quietnfor‘ some time Pitst. Stocks of New Zealand pelts in London at present are on a small scale, but‘s6ine large shipments of ‘Government pelts are now being‘ landed, and consignments of North Island freezers are expected to arrive here in January. -111 View of the uncertainty as to the labour outlook, both here ‘ ‘and in A'lneriea the future is rather pioblc‘ matical, and while it is not expected there will be any importzlnt change in prices this year, conditions generally point rather to lower than higher prices:—- 1 Tallcw.——During the. p:,a,s_l fouy \\'(}ol(Si four series of public sa-les have been? held at \\'lli,(<vllr4C>ll-9-disks,ef.-Austra—‘ lasian were offered, and 3:130 easks "Wit." ..l.x'./-.6‘. i T sold. The deliizllld’h2is"be‘cn good. chiefly fro export, f1I1(1m-1‘liI1(‘l(')i'lil10 influence of this, prices advanced sliarply, and until quite recently buyers were eagerly seeking tor olfers both on spot and afloat, an a_v_eragc of 15/ per cwt being quoted. Towards the close this demand ent.iljcl_x,j c,ea_se'd#. _an«l' at ‘a-st auctions the bulk’ o’t"“'tlie ofi"el-ing was quite junsaleable, thc‘portions disposed of being 2/ pe.i_' cwt lower..- The Home Trade are buying little at present, and thG7Contincnt, having bought 3. good quantity, have apparently decided. to take at rest, -being u:ndoubtedly—‘u3onsidcrably halllpel'_e,d_,.bgrftlle difficulties of exchange, The fdrward market. has 50911 good. for parcels afloat, but- for,shipment business has been- difficult owing to uncertainty of freights. ~