LONDON WOOL SALES.

Auckland Star, Volume XXXIX, Issue 114, 13 May 1908, Page 5

LONDON WOOL SALES.

SERIOUS DROP. IN PRICES. : . The New Zealand Loan, and Mercantile Agency Co.,~Xtd., have "received the" followin o - telegram- -from, their London, house: —"WboL —As compared with the last sales' dosing rates, prices are about 10 per cent lower for fine crossbred and merino, and about I2S per cent lower for medium and coarse crossbred. Active competition for crossbred at..the reduced rates." ":_"" -.:."'"' - (Received 1.35 p-m.) - -"- ;; -; • . - - -LONDON, 'May 12. The. wpol sales opened to., brisk" com?petition, but values showed, a" a to 10 peri cent decline. ' .. .... .-- Z. THE DECLINE LN " "" The resumption of the Sydney: wool Sales yesterday has been awaited,by,."the trade very anxiously, and in view, of the heavy-relapses recorded- in- the- recent London wool sales, fear was generally entertained as to how this markei: would open (says the Sydney 'TJaHy Tdegraph" of May 7). The result yr&sk exceedingly poor, values showing, an 'all~ round drop of from 10 to .15 per cent, on: the prices ruling at the close of-the/last. . sales held in Sydney. - The future of tie- • market seems wrapped in great uncex- - taihty, imr cables from. London advising . that shippers - were - onstrocting there : agents to withhold their wools from the* \ coming LondonTsales,fwhfle in Melbourne, \ and here as well, .holders are.talkmg-ol carrying over-.their stock: till'the"next t season. The bolden fleece ia_" not '.quite 1 as golden as it was. and Australia will i Toe the poorer for this fall by a- good , round.sum. ' . "' ' '....'.'...