ENGLISH WOOL MARKET.

Press, Volume LX, Issue 18073, 15 May 1924, Page 10

ENGLISH WOOL MARKET.

RECENT SALES.

(730K OCB OWK COBBXBPOITDEST.) LOSDON, April 3. This week has seen the close of the second series of Colonial wool sales, for which 118,C07 bales were listed. About 110,000 bales were sold, 48,000 Tiaving been taken for export. New Zealand's contribution to tht total was 43,5€0 bales, beading- the list by a. long way, Victoria's 17,626 bales coming nt-xi in quantity. Messrs Charles Balme report a satisfactory market, tbc eale r-join having been well attended, whiio competition wo* animated ihi>»ugriO'it the faeries. In accordance with expectations baaed on the result of auctions ntlu during the interval at Hull and Liverpool, the sales opened with another sharp rise ,i. value.) lor 'be coarser grades of wool, wlulo merinos and fine croasbreds also improved lo a more limited extent. The feature oi the market has been the keen demand for all qualities from the Home trade, who fecureu the bulk of the offerings. 'The French section vam rather quiet at the opening, but later on increased its operations; other Continental buyers purchased freely, but America was out of the market. Merinos were generally 5 per cent, dearer; r-ricea for fine-haired Continental wools frequently showed no change, but combing greasies suitable for the Yorkshire trade, as well aa pieces and bellies, were quite 5 per cent, higher. Superior scoureds jnd inferior und faulty descriptions also advanced 5 per cent., but average sorts so'd with Bome irregularity. The rise among greasy crossbred* amounted to from 5 to 7J per cent, on fine, 10 to Id per cent, on medium, and 15 to 20 per cent, on ooaree qualities. Scoured wools, when free from faulty, experienced a-similar improvement, but seedy and burry'lots have --' appreciated to the same extent. I»ew Zealand elipo wools were scarce and met with a keen demand at 5 per cent, for finp 10 to 15 per cent, for medium, and IS to 20 per rent, for coarse grades, above February pari'/. . , . . • ' As compared with last seriee closing rates, Mcssrg Balme quote:

Merino. Australian and New Zealand. Current Creese- , Pricea - Superior--Par to 5 p«r cent. dearer 33 d to * Cd Average to good—Par to 5 por cent, dearer .- •■ 32d to 37d Poor condition—s per cent. •• dearer 24d to 31d Inferior piecoa and locks—s _ . per cent, dwor •-. 16d to 23d Scoured, suporior—s per cent. de.-irer ■• ..58a to 69Jd Scoured, average to good—Par ■ - to 5 per cent, dearer .. 50d to 67d Scoured, inferior—s per cent. . _ dearer Md to 49d Scoured, faulty, pieces and r locks—s per cent, dearer 23d to 32d Crossbred. New Zealand. Grease— ♦ Fine.' superior—s per cent. dearer .. . • .. 3ld to 3Cd ' Fine, ordinary—s to 7J per cent, dearer -'.. .. 26d to 30d Medium, superior—lo to 15 , per cent, dearer . # 24d, to 32d Medium< ordinary—lßv. per cent, dearer .. . - 18Jd to 23|d Coarse, superior--J5 to 20 * per cent, dearer .. 19d to 20d Coarse, ordinary—2o per cent. dearer ... .. ..'. IGJd to 18Jd Scoured— Fine,- superior—s per cent. dearer .. . .; ...< 45d to 52d Fine, ordinary—74 per cent. dearer .. .» -.. 30d to 44d Medium. sujfirrior—ls per cent, dearer .. .. 28d to 38d Medium, ordinary—2o - per , cent, dearer .. ... 20d to 27d Coarse, superior—2o per cent. 'dearer .. .. .. 22d to 28d' Coarse, ordinary—2o .per cent. dearer .. ' .. ',_'.. 17d to 2ld Sliped— v • Fine, ahperiov-o per cent. deafcr .. ',., .. 32d to 38d Fine, inferior—7J per oent. « dearer ... - .■ .. 25d to 81d Medium, • superior—15 'to 15 per cent, dearer .. 25d to 32d Medium, per cent. dearer ... .. .. 20d to 24d Coarse, superior^—ls to 20 j?et'ee«U, dearer '., , 22d to 264 • Coarse, inferior—ls to 20 per " cent, dearer .. .. 18d to 21d

The New Zealand Loan .and Mercantile Agency Company' refer to the fact that Home and Continental buyers were in full force during the auctions. . Competition from the home trade was particularly active. Germany, also, operating freely, while good support'was furnished by Belgium and Francp, the bidding on the part of the last-named, however,; showing more reserve than of late. ..America ,did not operate. With the progress of the sales, under the stimulus of spirited bidding, values all round hardened, merino anji the coarser grades of greasy crossbred now mostly ruling. 6 per onnt. dearer,, while fine grades of the laSer are par ito 2J 'per cent, higher than at the opening. Scoured crossbred, When free from fault, meets a pood demand at a similar advance to that obtained* for greasy, while, slipes, which are in small supply, • generally, show an appreciation of 6 per cent, on fine and 10 to 15 per cent. on medium and coarse grades. 8.A.W.8.A. Wools. "

Latest figures -issued.-by the British Australian Wool .Keali-iatiefi Association, Limited, show that there are still 44,778 bales of lNew Zealand wool on hand, against the 209,587 bales remaining over at the end of December., There. is no New Zealand merino iu this supply, tho bulk consisting "of croßsbreds of fine,' iridium, and. low,qualities. Australian B.AAV.K.A. - holdings are 33,627 hales, agaimt 162,386 .bales remaining on hand at the end ol December.

Crossbred Prices. "Everybody . appenTs to be quite confident," writes a Bradford paper, "about the: upward tendency of crossbreds, being continued. The immediate effect of the, London Bales has, .been to put another halfpenny per pound .upon all qualities up to, and including. 36's, and a significant feature of the market is that most topmakers insist upon the full quoted price, when business is discussed. It is a waste of time to attempt to bargain for concessions. Forties prepared are now making 27id" for a ..good average quality, and other prepared sorts-are selling in proportion". Tops - are still relatively cheaper than wool, reckoned either on a London or New -Zealand basis. London is-in fact a. cheaper market than the Colonies, and if the demand for tope and-yarns continues the tendency will inevitably : be¥.upward as the cheaper stocks purchased in December, January, and February, are absorbed. The same th'.ng applies to yarns, which maintain a position relatively cheaper than tops because ol the* cheaper supplies in the hands' of spinners."

SOUTH AMERICAN MEAT.

The New. Zealand Meat Producers' Board, has received -a cablegram from its repre-' sentative at Buenos. Aires, South America, advising the following shipments to • the United /Kingdom for. the lortnight ended 3rd instant lrpm Argentine and Uruguay:— 233,950 quarters' chilled beef 61,210. quarters frozen beef, 43.924 ' carcases frozen mutton, 63,436 carcases frozen lamb. The quantity shipped to the Continent of Europe during the same period totalled:— 155,153 quarters frozen beef, 15,181 carcases frozen mutton, 3250 carcases frozen lamb, t

FURNITURE AUCTION.

H. C. Smith, of the City Market, held a successful auction sain of furniture an Tuesday, account Mr McNccly, on premises, Western terrace, Beckenhara. Very satisfactory prices were obtained, as shown by the following price*:-- Three-piece suite £ll 10s, oak hail rock 30a, hearthrug 355, 4 k. chairs 30s, gate-leg table £2 15s, 4 h.b. chairs £3 4b, carpet square 10.x 10 £lO, wardrobe £l, 2 oak chairs £2 2s, oak duchesse £B, e. radiator £2 10a, cabinet £2 12s 6d, single bed £i 15s, 1 wooden bed £4 los, stretcher 21*, tapestry runner and 4 slip mats 30s, Ktiayrttis t»b:« 2(«, •> hearthrugs £2 15s, part DjiUet 2fc>, 8. iron 295, 1. mower 235. One hundred and forty lots met with splendid compe'.ition. 9272

WESTPOBT COAL COMPANY.

(PEESfi ASSOCIATIOV TEUOBAX.) DUNEDIN, May 14. Ths director! of the "Wostport Coal Co. hjkye 4£?i*rfd- an interim dividend of sixpence per share.