LONDON WOOL SALES

Press, Volume LXXXVI, Issue 26030, 6 February 1950, Page 8

LONDON WOOL SALES

RECESSION IN PRICES REPORTED The produce department of the Bank of New Zealand has received the following advice about the London wool sales, under date February 2:—"Good general competition prevailed at the London wool sales to-day. There was strong Continental support, although the initial caution was still evident, and prices were steady on the lower basis. New Zealand greasy medium crossbred wool was 7$ per cent, to 10 per cent, lower.” The range of prices was as ’follows:—

According to advice received by the Bank of New South Wales, compared with the opening London sale, greasy Merinos were 5 per cent, to 10 per cent, cheaper; fine crossbreds, 5 per cent, cheaper; medium, generally 10 per cent, cheaper. Competition was good and general at the above levels.

Per lb. s d. d. Halfbred — 56/58’s .. 57 to 62 50/56's .. 48 to 51 Crossbred — 48/50’s .. 40 to 43 46/48’s .. 39 to 42 44/46’s .. 38 to 41

UNLISTED STOCKS Amalg. Batteries .. 1 3 0 1 b u Beaths (Is paid, 19s deposit) 1 17 6 1 19 Federal Theatre .. 1 1 6 1 3 3 Christchurch Press 12 10 0 Licensed Freeholds — 1 7 6 Lane, Walker, Rudkin 2 19 0 3 2 0 Mack’ll. Caley, Phoenix 1 13 6 — Mack’h. Caley. Phoenix, cont. .. 0 8 6 Matea Forests 0 2 6 0 2 9 Mt. Cook Tours .. 0 10 0 —— Reece, Ltd., E., ord. 0 1 0 ■— Reece, Ltd., E. pref. Regent Theatre .. 0 11 0 0 12 6 St. Elmo Courts. 6 Whakatane Board 1 4 0 0 Mills 0 18 3 — Pref. .. , • • 1 2 6 1 3 3 Williamson Jeff1 10 0 —