COMMERCIAL.

Taranaki Daily News, 1 September 1922, Page 2

COMMERCIAL.

THE BERLIN EXCHANGE. By Telegraph.—Press Assn.—Copyright. Received Aug. 31, 5.5 p.m. London, August 30. The exchange rate on Berlin is 5800 marks. LONDON TALLOW MARKET. Received Aug. 31, 5.5 -p.fin. London, August 30. At the tallow sales 1349 casks were offered and 585 sold at 6d to Is decline. Quotations : Mutton 41s and 365; beef 42s and 365. CARGOES MARKET. Received Aug. 31, 5.5 p.m. London, August 30. Cargoes are quiet and buyers are not confident of the position; quotations tend easier. Parcels are Weak and 6d to Is lower, due to aelling pressure from Manitoba. WOOL FREIGHTS DOWN. Wellington, August 31. Wool freights have been reduced from tomorrow. Greasy and sheepskins are 7-Bd, slipe Id, washed 1 l-Bd, all plus 10 per cent. AUSTRALIAN W)00L. SYSTEM OF ALLOCATION. Melbourne, August 31. The Wool Conference considered the resolutions submitted by the Australian Wool Growers’ Council, approving of the present system for the allocation of wool, and its continuance for another twelve months. They also approved of Sir John Higgins’ proposal for the stabilisation of crossbrea wool. The conference, after discussion, adopted these resolutions, but in the divisions thereon members of the National Council of Wool-selling Brokers of Australia present did not vote. Negotiations are proceeding between the various interests represented at the conference, from which an arrangement acceptable to ail parties will, it is hoped, result. The president of the wool-selling brokers j urged that after September 30 all allocations in regard to the forthcoming clip be left in the hands of the selling brokers, they receiving and carefully considering any suggestions by B.A.W'.R.A. or Hie growers’ representatives, their object being to arrange dates so that Hie full strength of the buying interest shall be concentrated at each selling centre In rotation. At a later meeting of B.A.W.R.A. and the Selling Brokers’ Council, representatives agreed that the allocations for the Commonwealth for the September auctions be 108,000 bales.