ACTIVE COMPETITION.

Auckland Star, Volume LXIX, Issue 224, 22 September 1938, Page 8

ACTIVE COMPETITION.

LONDON WOOL SALES. i OUTLOOK FOR TRADE. VIEWED WITH MISGIVING. (Received 11.30 a.m.) LONDON", September 21. At the London wool sales to-day 979. : hales were offered, including 3809 of New Zealand woo], and 8499 bales were sold mere was a moderate selection and :-om petition was again active. The bulk sok at lull rates, greasy crossbreds favourim sellers. «v*!«.w » J fr a ' and Rrea-sv crossbred NZVVMA. sold from 9d to lid per lb Ahum, »%d to 9%d; slipe halfbrec Inmbs. -Canterbury." to 13d •'•«•«■ Stars." lOVfed to 13d: "Oakkigh,' l-'/id to 13%i1; "Eclipse.'* 9%d to 12** d. I oiiinienting on the wool sales, Hansons Limited, direct attention to the relativ. freedom of wool from the consequences <t the international situation, but em-iha sise that the general trade situation imisi be viewed with misgiving. They add that export* have been «eri onsly disturbed and orders lost owinu t( war fears, while considerable quantities of old contracts remain to be worked off X\ ar risk insurance rates provided ad !i tion.il encumbrance to traders. No defiiit< trend w apparent, but day to day flue tuations must be expected. PRIVATE CABLES. The following cable dated London September 20, was received by the Bank o Australasia from Messrs. Balme am Thomas to-day: —"London colonial woo sales all New Zealand crossbreds unchange< compared with closing rates of last series competition keen for home trade am Continent." The following is a copy of a cabli received hy the New Zealand Loan anr Mercantile Agency Company from Londot under date September 20, 1938:—"Fiftl series opened to-day. Keen general com petition. Continent and Yorkshire ehie buyers. Merino greasy in buyers' favour Merino ecourefT par to '/id lower, cross bred greasy in sellers' favour; otherwise unchanged. FIRM IN SYDNEY. SYDNEY, September 21. At the wool sales to-day, 11.264 balei were offered, and 10,514 were sold, inc.'ud ing_ 1063 privately. Competition was very keen from thi Continent and Yorkshire, with substantia support from Japan at around late Srn levels for all types of wool. There was i wider demand for the better classes of th staple. Greasy Merino sold up to 18d per lb.