FIVE PER CENT.

Auckland Star, Volume LXIV, Issue 114, 17 May 1933, Page 7

FIVE PER CENT.

WOOL PRICES RISING. Improved Activity Likely for Considerable Time. NEW ZEALAND OFFERINGS. (United P.A.—Electric Telegraph—Copyright) (Received 10 a.m.) LONDON, May 16. The "Yorkshire Observer" says: "It is gratifying that the recovery of wool prices is benefiting the manufacturers. Many of them report more business than for many months. It is anticipated that the improved activity will continue for a considerable time." The "Yorkshire Post" says: "The London increases are the most pronounced, for two years, and it is widely believed that they will be maintained and false levels prevented." At the wool sales 10,145 bales were offered, including 7168 of New Zealand. About 8908 bales were sold. Brisk competition continued from all sections, and the offering was mostly cleared. Prices show a general advance of 5 per cent above the opening rates. New Zealand greasy crossbred J.L.R. fetched 9.1 d, and six bales of scoured Merinos, Oxford, 18id, the average price being 17d.

The Bank of New Zealand lias received the following advice from its London office, under date May 12:—Current quotations: Merinos, super, GO-64's, 12d to 13d per lb; ordinary, 60-64's, 9'/2d to 10% d; inferior, 60-64's, 8d to B>/ 2 d. Halfbrede, 56's, 10d to ll%d; 50-56's, 7%d to B%d. Crossbrede, 50's, 6d to 6%d: 48-50's, 5%d to 6d; 46-48's, 5d to 44-46"5, 4 ] /£d to sd; 40-44's, 4%d to 4%d; 36-40's, 4%d to 4%d.