COMMERCIAL.

Gisborne Times, Volume XXX, Issue 3437, 31 January 1912, Page 2

COMMERCIAL.

LONDON WOOL SALES. [united press association —copyright] LONDON, Jan. 29. At the wool sales a large selection of New Zealand crossbreds was offered. Prices for the best sorts were fully maintained, owing to strong American competition, while shabbier top-making wools were in buyers’ favor. POLLARD UP. [united press association —COPYRIGHT] (Received Jan. 30, 10-50 p.m.) SYDNEY, Jan. 30. Pollard has advanced five shillings. ‘^ELDERSLIE ESTATE SALE. GOOD PRICES FOR STOCK. [PER PRESS ASSOCIATION.] OAMARU, Jan. 30. The Elderslie disposal sale concluded to-day, when the sheep were brought under the hammer. The Romney Marsh breed made the best average of prices, buyers from, the North Island an-d the southern parts of this Island, together with one from Victoria, operating freely. J. F. Reid! paid 11() guineas for an imported rain, and V. Cassels, of Hawke’s Bay, 85gns for another. Two | others brought 75gn.s each, one being bought by Arthur Payne, Victoria, and the other by Watson Shennan, Otago. • For the Elderslie breed rams the beat ; price was 69gns. paid by David Mur- j hay, of 'Clydevale, while J. Millar, of Maungatua gave ' 50gns. for another and H Buchanan. of Gisborne, bought three at 35 and 30 gns. respectively. The Hon. J. D. Ormond was the purchaser of another at 28gns. J. MacFarland 25gs for one, Bailey Bros.. Wanganui, 26 gs for another. The 'best

price obtained for ewes was lOgs paid) 1 in several instances. An • imported Border Leicester ram realised, llOgs, the purchaser being Jas. Boss, Palmerston ftJuuth. Another found a purchaser in Mr Acton Adams, at 75gs. Of the Elderslie breed Border rams 21g»s was the top price, the . ptirdbaser being Mr MoKeicher, of . Woodlands. Another was bought at 20gs by Acton Adiams. The English Leicesters- ’and Lincolns did net realise high prices in any instance. 1 Messrs. Dalgcty and Company, Ltd., have received the following cable from their head office in London: ‘‘We quote Bradford tops: 26’s Is Id per lb, 40’s Is l.Vd, 44’s Is 2f-d, 46’s Is 2-Jd, 50’s Is sd, 56’s Is 7-ld. 58’s Is 9. J ( d, 60’s Is 60’s super 2s, 64’s 2s Id, 70’s 2s 2d. 'COMMERCIAL ARBITRATION. A recent circular of the Association of Chamber of Commerce of Great Britain announces that the Board of Trade has in hand the preparation of a Blue Book containing reports from British colonies and foreign countries on the subject of commercial arbitrations and the resulting awards. The association desires that international arrangements should be. entered into, which would have the effect of permitting the enforcement of an award in all countries which become parties to the international agreement, wherever spell award might be given. There are, however, great difficulties in the way. Even the judgment of .a tribunal of the State has no recognised authority in another State. -It is held to be “out of the jurisdiction.” By degrees, perhaps, and by refraining at grasping at too much at once, the final goal may be reached. For example, a considerable step in advance will have been taken when all foreign courts of justice can be got to act as the British courts do now as regards the enforcement of an arbitration award. In Great Britain, if a defendant is mulcted in damages by an award and refuses to pay he can be sued in the High Court on the award. The case is not tried over again. The Judge simply calls for the award, and if it is in order gives a verdict for the plaintiff, and recovery of the amount follows the usual rules of the High Court. If this could be done in any part of the British Empire, wherever the award was given and wherever it was desired to enforce it, a great step forward would be taken. A resolution on the subject having this object in view was adopted at the lastmeeting of the Imperial Conference, and this partly accounts for some delay in publishing the Blue Book.