LONDON WOOL SALES

Press, Volume LXXXII, Issue 24982, 17 September 1946, Page 7

LONDON WOOL SALES

PRICES FOR N.Z. OFFERINGS INCREASE DURING FIRST TWO DAYS (Special Correspondent N.Z.PA ) (Rec. 8 p.m.) LONDON, Sept 10. Compared with the level of prices when sales by the Joint Organisation ceased on June 30, before the recommencement of regular auctions, realisations for New Zealand wools during the first two days of the London sales show an increase of 7} to 10 per cent, for greasy crossbreds; 10 to 15 per cent, on scoured crossbreds; par to 10 per cent on fine slipe lambs; 5 to 7} per cent, on medium slipe lambs; and 15 per cent, on slipe sheep clothings and seconds. Forty-eight thousand bales of New Zealand wool, mostly scoured and slipes, will be offered during the three weeks series of sales which opened in London this week. “Prices realised at the London sales indicate what should be an auspicious opening to the new selling season in New Zealand,” said Mr F. S. Arthur, manager of the United KingdomDominions Wool Disposals, Ltd., commenting on the results of the first two days of the London sales. “These prices, with those realised in October at Liverpool and Bradford, combined with the offerings of Joint Organisation’s stocks in New Zealand between September and the beginning of the new season in November, will provide a good test for the crossbred market.” Mf Arthur said that the selection of New Zealand wool offered in London, while not by any means representative of the New Zealand clip, still provided an indication of what might be expected at the New Zealand sales. The bulk of New Zealand offerings already auctioned in London had brought relatively high prices because of the urgent demand from various quarters for wools which could be put straight into manufacture without further labour in processing. This was largely because of labour shortages and likely to be transitory, but nevertheless everything pointed to values being established in New Zealand, which would provide a good but not extravagant return to growers, “I was agreeably surprised with the condition in which Joint Organisation stocks were opened up,” he said. “There was little evidence of detetiora ion in spite of the long storage period, although, as was to be expected, there was some slight discolouration in New Zealand greasy crossbreds. Scoured and slip#s were not discoloured.” The scene at wool sales was busier than during times before the war and standing room only was the fate of all except buyers who have their seats reserved. Aisles and corridors were crammed with observers, assistants, and spectators. The Coleman street exchange, where the sales are being held, suffered severely from enemy action during the war. Among the records lost was a seating plan, and the committee has now asked buyers attending the sales to establish a committee to ensure that new arrangements are satisfactory. Vociferous bidding was always a feature of wool sales, and the two opening days of the London sales have seen buyers in exceptionally good voice. While the buyers jump to their feet, gesticulating wildly, the calmest person in the room is the auctioneer, who remains seated on a rostrum, quietly sorting out the bids from buyers and settling them with a tap of a pencil