COMMERCIAL.

Ashburton Guardian, Volume XXXV, Issue 8201, 26 July 1915, Page 8

COMMERCIAL.

LONDON MARKETS,

CLOSE OF WOOL SALES. ...... LONDON, July 24. Tho wool sales closed steady. The quantity sold for the Home market was 152,000 bales, for the Continent 15,000, for the.United States 5000, and 72,000 bales wero held over. Good combing, Merinoes fully maintained tho opening advance, Russian buyers operating freely, and prices generally were 7^ per cent: to 10 per-oent,above May rates. Shabby and faulty were 5 per cent, below the lowest May rates. Finer crossbreds met.a strong EVench demand, and. fully maintained the highest level of the year. Shabby and coarse lost the opening advance, and • dropped fully 10 per cent., but recovered this week, and closed at Id decline, compared with May prices.- Fine scoureds and strong coarser declined l£d to 2d. . Slipes declined Id to 2d from the highest rates. Merino lambs were scarce. Best was 5' per cent, dearer. Crossbreds declined fully 10 per cent. Until the combing and carbonising machines in France.and Belgium again are buying there is little hope for faulty and shabby, wools. The lethargic support of the Homo market is due to financial. considerations. Owing to tlie congestion of the railways, a/ long time is taken - over combing wool, and there is serious delay in converting' ;it into money., It is deplorable that every comb is not working day and night, .especially as. the machinery in England is inadequate for coping with ■Army orders.- ■' A DIVIDEND. Nelson Bros, have declared an interim dividend of 4-per cent. NEW SOUTH WALES LOAN. A correspondent of the "Economist" complains of the injustice inflicted on investors in the New South Wales loan by the issue of the Australian war loan and the reduction of the minimum price of consols, which have made it unmarketable at a. reasonable figure. .. BUTTER, ! Danish butter is quoted at 162s to 166S' WHEAT. The wheat market is firm and quiet. Chicago July options 109£ cents to 112 cents, September 105& cents to 107§ cents.