LONDON WOOL SALES.

Press, Volume L, Issue 14908, 5 March 1914, Page 8

LONDON WOOL SALES.

(By C»ble.—Prtts Astocittion.—Copyriffht.) LONDON, March 3. Tbe wool sales nave opened. Competition is brisk and excited. Merinos nave advanced from 5 to 7_ per cent., and crossbreds iuiiy 10 per cent*. (Received Marcn 4th, 11.3-3 p.m.) LONDON, .Match 4. At the wool sales, drib bales, including ot>l4 -New Zealand, were otiereu. 'lnero was an excellent selection of crossDrcds, and a crowded attendance, a record nuuiucr oi buyers ixiiug present noui tne Lnited Slates. .Keenest compeauou prevailed lor all classes, the suited States and lorkbniie bidding excitedly ior crossbreds, and Yoriisnire aud tue Continent ior merinos. The New Zealand Loan and Mercantne Agency Company .Ltd., advise having received tno loilowing cablegram giving tue underuoted miormauoii auout the London wool sales: — "Tliere was a good attendance at tho opening of the sales. Competition by irionie, Continental and American buyers was active. Prices, as compared with the close of tiie preceding series, ruled about 10 per cent higher for crossbred and 5 per cent, to 7\ per cent, ior merinos. The opening catalogues were fairfy representative." l'Lie National Mortgage and Agency Company of New Zealand Ltd., are in receipt of the following advice from their London office:—"London Wool Sales: Merinos and fine crossbreds opened at an advance of 7, por cent, on last sales' closing rates. Crossbreds, medium and coarse at an advance of 10 per cent. Prices very firm. Large attendance of buyers— bidding keen. America well represented."

The Bank of New Zealand has received the following cablegram from its London office:—"'lhe wool sales have opened with strong competition ana a largo attendance of buyers. There is an active demand by all branches of the trade. Total net quantity New Zealand available 60,000 bales'. The market is strong for tTie following wools: Coarse crossbreds, prices aro higher _d to Id per lb; medium crossbreds, prices are higher Id to l_d per lb; fine crossbreels, prices are higher Id to l.d per lb."

Tho New Zealand Fanners' Co-oper-ative Association aro in receipt of the following cablegram from their London ollice:—"Wooi 6ales opencrd, and prices, as compared with closing rates of last series, are: Merino and fino crossbred, 7_ per cent, higher j medium and coarse crossbred, 10 per cont. higher. Competition excellent.'' Dalgetv and Company, Ltd., Christchurch, have received the following cable from their London office, dated March 3rd:—"Wool sales opened today. There was a large attendance of buyers, and very animated competition. As compared with last sales' closing rates, merinos generally aro 5 to 7_ per cent, higher, fine crossbreds 7£ per cent, higher, and medium and coarse crossbreds 10 per cent, higher. American buyers are operating." (Received March 4th, 11.3. p.m.) LONDON, March 4. Wheat—The market is quiet, but Australian parcels are. steadily held. The American visible supply is 110,446,000 bushels. Copper—* Spot £64 3s 9d, forward £64 7s 6d; electrolytic £G6 15s. Tin—Spot £173 10s, forward £175 10s. Lead—£l9 7s 6d. (PRESS ASSOCIATION TELEGRAM.. WELLINGTON. March 4. The Department of Agriculture has received the following cablegram from the High Commissioner, dated London, March 3rd: — ''Regarding the opening of the second series of colonial wool sales, the wool sales commenced with a large attendance of buyers, anel competition is great. Americans are buying freely, and the market is very strong. Merinos average' _d, and crossbreds Id above the closing rates of the last sales. Sixty thousand two hundred bales of New Zealand wool have been catalogued"