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Taranaki Daily News, Volume LVI, Issue 174, 22 January 1914, Page 2

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♦ SUCCESS OF VICTORIAN LOAN. REDUCTION OF BANK RATE. By Cable —Press Association—Copyright London, January 20. The Victorian loan 'was subscribed threefold. This is the first time in six years that a colonial loan has met with such success. It is understood that a syndicate ot "stags" applied heavily on the strength of New South Wales having gone at a premium. [''Stags" are irregular dealers In stocks, not members of the Exchange, or applicants wiiose object is to sell immediately at a premium and not to hold stock.] There is a probability that the bank rate will be reduced to 4 per cent, on Thursday, or possibly later. STOCK EXCHANGE HEALTHIER. London, January 20. The Westminster 'Gazette fears that the success of the Victorian loans will stimulate so many borrowers that' a congestion will again result. The Olobe states that the vast accumulation of wealth arising from the trade boom is now coming on the market, and finds the Stock Exchange largely denuded of its floating supplies of stocks. Brokers' books are full of investment orders. The position of the Stock Exchange is healthier than for many years. London, January 20. At the wool sales a choice selection elicited spirited competition at high prices. j Jute. January-February shipments are quoted at £33. Bank Quotations. —Bank of Australasia £llß and £l2O, Union Bank £SO ami £ST. Silver, 2G'/ad per oz. DUNEDIN WOOL SALES. Dunedin, Yesterday. At the second Dunedin wool of the season 25,170 bales were catalogued, making the sale the. largest so far this season in the Dominion. Competition was keen, American, English, and Continental buyers participating, at an advance of from y 3 d to l|4d over la»t month's prices. The chief competitors for the liner wools were the local woollen mills. The top price up to noon was 14d, obtained for a line of super halfbred wethers from Roxburgh. Speakin" generally, prices this year are on an average about Id less than those obtained in January last year. WOOL, HIDE, SHEEPSKIN AND TALLOW SALES. L. A. NOLAN & CO.'S REPORT. I We held our monthly sale of the above on Tuesday, the 13th inst.. in our (.'ill street store.' We submitted a failcatalogue of wool, about our usual lot of skins, and a slightly smaller quantity of hides. The Hush of the calfskin season is over, so that our offering in this department was the Miiallesl this season. Competition was good for all lines. Hides—Hides were firm and sold at late rates, with an inclination to , a i slight rise in heavies. I Calfskins were keenly competed for ' and were cleared at a little better rates than last month for similar lines. Sheepskins—All dry shipping lines sold at an advance of a good farthing on last month's rates. Salted pells made good money, best lines with plenty of spread making up to 3s 3d. Competition for the latter was particularly keen.

) Wool—Competition was keener if any. i thing than last month, particularly for ; rougli wool. The sale has definitely I shown than the keenest demand at the I present time' is for rough wools. Baek- ' country lines, log-stained, medium and coarse crossbred, made from 7%d to S'/ S d. the hulk of the oll'criiig of this class selling' at the latter price. We , estimate the rise at this sale at >/ 4 d per lh, with the exception of line wools, I which sold at last month's rates. We sold one"'hale at 7%d, 2 at Bd, -29 at B%d. 25 at B'/od, 0 at B%d, 1 at lid, 2 at DV4<l» 4 at DVsd, pieces one each 5%d I and o%d. Four lots, comprising 10 bales, were passed as follows: (i at B'/ 2 d, 4at B%d, 2at 9%d, 4at !)'/ 2 d. Lambs' sold: 1 at B'/.d, 1 at «%d, 4 at (I'M I We quote: | "Wool —Merino 9'/od, line wools 9d to , O'/jd, medium crossbred S'/od to B%d, j coarse and inferior 7%d to S'/|d, logstained 7%d to B'/,(!. pieces (i%il, 5%d; j sack lots, line B%d, medium to 1 B'/.d, coarse 7 J / 2 d to H'/til, inferior t>A "to 7M'd, himhs' B'/ 4 d, S'A><l to l)'/,d, dead o%d, locks and pieces 3'/ 2 d, 4d, 4%d., 4%d, sd, <> ! /id, skin pieces Id to 3>/ 2 d. Hides—Ox (no heavy or stout catalogued), medium stout 9%d. medium ordinary B%d to 9d, light S'/ 3 d to B%d, heavv ordinary 8 : J4<1; cow, heavy B'/ 3 d to B%d, medium B'/j.d to B%d, liglit S'/ 2 d 'to B%d, cut 8d to B%d, farmers' light 7%d to 7%d, slippy 5%d; horse, (is 3d, ! 7s (id, 8d; yearlings, light S'/ 2 d, heavy j 7 ; Kid, cut Od to fi'/ail, slippy 0 1 / 3 d; calves, | light !)'/.d, medium 9%d to 10%<1, heavv 11'/ 4 d, cut fld, slippy Bd. •Sheepskins—Full-wools 7Vad, inferior (i'/id, li'/id to li%d, lambs' 7d to inferior fl%d to o%d, damaged 5%d. pelts -Id, o'/.d, (id; salted, pelts Is lid, 2s 2d, 2s 3d, 2s 4d, ,2s 3d, 2s Bd, 3s 3d. .damaged Is, huuhs' 2s 8(1, 2s 9d, 2s lOd, j settlers' Is 3d to 2s 3d, woolly ss, 7s 2d, j ■7s Bd. ' j Tallow—Casks: Inferior 2(is, medium j 20s Od to 20s Ski;,tins, IDs, 22s 3d, 245. , Sundries—Cowtails Is 9'/'d, horsehair Is (id. ; Our next sale will he, held on February i 10, 1014.