THE WOOL SALES. WELLINGTON JANUARY SERIES.

Evening Post, Volume LXXV, Issue 14, 17 January 1908, Page 8

THE WOOL SALES. WELLINGTON JANUARY SERIES.

A FURTHER FALL. Th© January series of the Wellington wool sales were opened this morning, when a.. catalogue comprising between eight and nine thousand bales was submitted by the sevsial firms of brokers. Buyers wero strongly represented, and at times they showed animation in their bidding, but this was always within closely defined limits, and prices showed a decline by comparison with previous figures. A good deal of rough conditioned wool waa included in the catalogue There was a disinclination to operate in this class of wool on tho part of German buyers— a departure from their practice in previous years, when their competition helped materially in keeping prices firm in these lines. Good lambswool met a spirited demand, but inferior was neglected. There was a difference of opinion, as tho sale, progressed, regarding the- extent of the drop in prices. One- auctioneer put it down as averaging an allround decline of a half-penny per pound, while another reckoned the drop in best wools at a farthing, medium lots a halfpenny, and coarse wools a, penny hnlfpennj". Another competent iudge estimated that from 30 to 40 per cent, was tho proportion of catalogued wool sold, and that price* ruled from a farthing to a penny below December rates. A noticeable feature in the bidding was ian unusual range between starting figure and final. One lin6 started at sd, advanced to 7|d, and another was raised from 5d to 7^d. Several lots were offered without eliciting a bid, and many others were passed in, after a fair amount of competition, on account of owners' reserves not being reached.. The rates for crossbred, by comparison with last year's best prices for similar lines sold at Wellington, shov a drop of about 40 per cent., prices being now 3d and 4d per pound lower. Some representative brokers' reports aro given belovr. ' ' LEVIN AND CO. Oar catalogue represented 1020 bales. There was again a good attendance of buyers, English, Continental, American, and Australasian operators. The wool market, since the sale held here on 6th December, has gon« through a period of severe depression for all classes of 'tho staple, and prices offered privately about th« middle of December for crossbreds showed a fall of a penny to twopence on December sale, prices, and at sales in other centres of the Dominion very low prices have been ruling. The outlook for our January sale was very discouraging, and much of the wool was removed from the sale- room and shipped direct to London. Since- the New Year, however, the English financial market has improved, and immediately following the reduction of tho bank rate came /an improved demand for raw material, but prices have not returned to the December sale level. Tho fall today, as compared with December, may bo nut down at a farthing on fine wools, o, halfpenny on medium crossbred, threefarthings on coarse wools, and a penny on inferior. Lambswool sold up to BJd for best lines, but seedy and inferior sold as low as s|d. There was very little halfbred offering, and tho quality was not equal to that shown earlier in the season. Medium quality halfbred reached 9{d. Pieces and locks sold well at rather over December rates, being sought after by local scourers. The following is the range of prices (figures in parentheses being the prices obtained in December, 1907) : — Halfbreds (9sd to Hid), 8d to lOd. Superior fine crossbreds (B.}d to 9jpd), 8d to 9d. Medium crossbreds (7Jd to B£d), 7Jd to Bd. Coaxsa crossbreds (7Ad to Bjd), 6Ad to 7*d. Inferior crossbreds (6£d to 7^d), 5d to 6*d. Pieces and bellies. (4d to sJ>d), 4d to sid. Locks (2^d to 3d), 2£d to 5Jd. Lambs, good, 8d to B|d. Lambs, medium, 6£d to 7jjd. - Lambs, seedy and inferior, sJld lo 6^d. The following ar» some of the chief results: — Maramatai halfbred 7Jd, L.W.P. halfbred 9d, Titirangi halfbred 9d, W. fine crossbred 9J, E.A. 7£d, Club tacee-quarterbred Bid, crossbred bid, 7|d. Bd, lambs B|d, Hukanui 73, Rawhitaroa74d, A.S.P. 7d, A.R.C. 7id, T.A. Clive 7id, E.M. Para Bd, Glenfern Bd, W.T./H. 7d, J. and F.R. 6£d, 7sd. N.Z. LOAN AND MERCANTILE CO. The New Zealand Loan and Mercantile Agency Company submitted about a thousand bales, and sold from 40 to 50 per cent of it. The company estimates that declines were about a farthing on free conditioned, good wool, and about a halfpenny on fairly good lines. Locks and pieces suffered a decline, in sympathy with the fleeces. FARMERS' CO-OPERATIVE COMPANIES. The United Farmers' and the Waira» rapa Farmers' Co-operative Associations, which sold in conjunction, according to usual practice, report that prices for crossbreds of good quality were halfpenny per pound lower than those ruling at last salo, and (for shabby and faulty lots from Id to l^d lower than previous sale. Quotations: Halfbred, Bdto9id; medium crossbred and' Romney, 6|d to 7£-d ; crossbred and Romney, heavy conditioned and dingy, 5d to 6|d pieces, 3d to sd; locks, 2id to 3£d. MURRAY. ROBERTS AND CO. Murray, Roberts and Co. leport: — At the third wool sale of the season we submitted a catalogue of about 1000 bales. Our offerings would have been much increased but for the fact that very heavy .withdrawals were made owing to excessive reserves, the difference between growers' ideas and value being bo wide that it was useless submitting the wool for sale. The general character of tho offerings was (as usual at this sale) inferior to the earlier catalogues, the wools on offer s being mainly "stray crossbreds of somewhat cotty and wasty condition. Prices, as was expected, ruled rather j lower than last month for all sorts, being a farthing to a halfpenny easier for medium conditioned wools, inferior and wasty sorts showing occasionally drop from December rates. Prices curient were as follows : — Merino, inferior to medium, 8d to 9d pet* Ib. Halfbred, inferior to medium, 8d to B|d per lb. Crossbred, medium, fair condition, 7,|d to 8d per lb. Crossbred, coaise, fail condition, 7d to 7£d per lb. Crossbred, inferior and logstained, s£d to 6jd per lb. Halfbred pieces, inferior to medium, 4jd to sid per lb. Crossbred pieces and bellies, good, 5d to 5Jd per lb. Crossbred pieces and bellies, inferior, 3id to 4d per lb. Locks, 2d to 3d per ib. Mr. N. M'Lean, of the firm of John M'Lean and Son, contractors for the Arthurs' Pass tunnel returned to Wellington this morning from visiting the tunnel. Mr. M'Lean put on a gang of men on Tuesday to open up the Otira, approach to the tunnel. Work will be continued at the heading by manual labour pending the arrival of drilling machinery and other jiiagt from Europe,