PROMISING OPENING.

Auckland Star, Volume LXIV, Issue 108, 10 May 1933, Page 4

PROMISING OPENING.

LONDON WOOL SALES. KEEN GENERAL COMPETITION. ALL-ROUND ADVANCE IN PRICES. (Received 10 a.m.) LONDON, May 9. At the ■wool sales 9337 bales were offered, including 4039 New Zealand. About 4472 bales were sold. There was a poor selection of Merinos and a representative offering of orossbreds. There was a cowded attendance and excited general competition, the home trade bidding keenly for crossbreds. Prices advanced compared with March closing:— Merinos, greasy, 7% to 10 per cent; scoureds, Vk\ crossbreds. fine, Vh to 10; medium, 7V4; coarse. 5; slipeß, '•) to 10 per cent. Greasy crossbred, New Zealand, SJC, top price B%d, average 7V4d: scourtd halfbred, Barrosa, 17% d and 15% d; halfbred lambs, filipes, Belfast, ll%d and ll%d. # MERCHANTS' CABLES. J Messrs. Dalgety and Company, Limited, report having received the following cablegram from their London house, dated 9th instant:—The wool sales onened, competition strong, attendance large, selection average, old season New Zealand crossbreds predominating. As compared with closing rates of last series:—Greasy Merino. 9id to Id higher; scoured Merino, %d to %d higher; greasy halfbred. %d to l%d higher; scoured halfbred, 94d to Id higher; greasy crossbred, fine VtA to %d higher, medium %d to %d higher, coarse unchanged, to Md higher: scoured crosslirrd. V>d to %d higher; fine sline, %d to %d higher; other sorts, slipe, %d to 94d higher. MARCH PRICES. Closing rates of last series were:— Merino: Good to super, lOd to ll%d; low to medium, 7%d to 9%d. Halfbred: 56-58's, good to super, lOd to lid; low to medium, 7%d to 9V4d; 50-56's ; good to super, B%d to lOd; low to medium, 6d to Bd. Fine crossbred: 48-50's, good to super, 6d to 8d; low to medium, 4Vid to sV£d; 46-48's, good to super, sVsd to 6%d; low to medium, 4d to Crossbred: 44-46 s, good to super, 5d to 6d; low to medium, 39id to 4%d; 40-44's, good to super, 4%d to 5%d; low to medium, 3'/6d to 4%d; coarse crossbred, 36-40's, good to super, 4%d to sd; medium to good, 3%d to 4%d. The New Zealand Loan and Mercantile Agency report the receipt of the following cable from their London office:—There is' a good attendance at the opening of the sales to-day, competition by home and Continental buyers being active. Compared with last sales' closing rates, prices are a %d per lb higher for crossbred slipe, medium and coarse greasy crossbred, %d to Id per lb higher for scoured crossbred, and Id per lb higher for greasy Merino. The opening catalogues were fairly representative.

THE BANK'S REPORT. The Bank of New Zealand has received the following advice from its London office, under date 9th instant:—The sales opened with strong competition and a large attendance. There is an active demand in nil branches of the trade. Compared with the close of last series Merino is Id higher, fine crossbred %d to %d higher, medium ted higher, and coatse Vid higher. ,