LONDON WOOL SALES.

Dominion, Volume 4, Issue 1029, 19 January 1911, Page 8

LONDON WOOL SALES.

BltlSK COMPETITION. VALUES DECLINE. By-Telegraph—Press Association— Copyright.. . London, January 17. The wool pales have opened. There is brisk competition at a 5 to 10 per cent, decline oil the prices at last sales. : ! HIGH "COMMISSIONER'S REPORT. The Commerce and Tourists Division of the Department "of Agriculture, Commerce, and Touricts have received tho following cablegram from the High Commissioner for ftew Zealand, dated London, January 17, rcgardinc the opening of the first series of the colonial -wool sales: — "The wool sales hays commenced with a, largo attendance of buyers. Competition is con(lued to Home manufacturers chiefly, whoso trade is good. America and the Continent are holding off to ascertain tho market value. A largo supply of crossbred wool is being offered. Fifty-eight thousand eight hundred bales of New Zealand wool are catalogued. Fine wool is id. and medium and-coarse id, less than last sale. "The estimated values of New Zealand wool at the close of the sixth series of the colonial wool sales held in London on December 6," 1910, were as follow:—Superior merino, Is. Id. to Is. 3Jd.; medium serino, lOld. to. Ip. OJd.; inferior merino. 6id. to 9UU fine crossbrods (all grades), Is. lfcd. ..to Is. 4d.'; medium erossbreds, lid. to Is. Id.; coarse crossbrods (all grades), 6id." to 10id. PRIVATE ' CABLED REPORTS. . Messrs. Daljrety and Co., Ltd.. have received the following cable from their London office, dated January 17, in recard to tho opening of the sales:—".Wool sales— Attendance of buyers generally is large, good selection of wools, and competition animated. Merino wools of good ouality and condition, 5 per, cent, lower: merino wools of. ether descriptions, 7i to 10 per cent, lower.; crossbred wools, fine Quality, nothing'offered; crossbred wools of medium and coarse quality, 75 per cent, lower." The Bank of Now Zealand has received tho following cable from its London office, dated January 17:—'"The Gales have opened with strong competition and a large attendance of buyers. There is a good demand for all kinds of wool. Prices aro lower by 5 to 7i per cent, for all kinds of crossbrods, and par. to 5 per cent, for all kinds of, merinos.", Messrs.: and- Williams." Ltd., have received the'following cable from their London agoutis;yndc?'. date January 17:— "The sales have opened with fair competition from a large attendance of buyers, Americans, however, being absent. Price 3 for fine, medium, and coarse crossbred and merinos, as "compared-with opening rates of' last series, have fallen 7$ per cent;" The New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cablegram from its London house, under date* January 17:—"Wool Sales.— There was a full attendance at the opening of the fales to-day, competition by Heine and Continental buyers being fairly .active, and prices, as compared with the close of the preceding series,, ruled about 3 por cent, lower for good merino, about 7J per cent, lower for . greasy crossbreds, end about 75 per ccnt. to 10 per cent, lower for merino, medium, inferior, and faulty descriptions '•Tho opening catalogues were representative." Messrs. Levin- and Co., Ltd.. have received the following cable from their agents in London, dated January 17:—"The wool sales have, opened. There iG a large aittendance of. buyers. - As compared with closing rates of last sales, good merinos liavo declined 5 per cent., and inferior and faulty merinos % nor cent. Medium crosshave declined 5 per cent., and coarse 74 per cent." 1 Messrs. Murray, Roberts and Co.. Ltd., l*avo received tlie" following wool market cablegram from, their London agents Messrs. Sandersou, Murray and Co.. dated January 17:—"The first series of sales has opened. Competition moderate. Price*? for best descriptions have declined 5 per cent., and. aro 74 per cent, lower for inferior descriptions." The United Farmers' Co-operative Association, Ltd., have received tbo following cablegram from their. London agents, under date January 17:—"Tho first series of wool sales opened to-day, and were, well attended by Homo > and .Continental buyers. Medium crossbrcd declined 7* per cent., and coarse erossbrcd.7& to 10 per cent, ns compared with tho closing rates of the previous sale." DUNEDIN WOOL SALES. (By Telegraph.—l'rcss . . Dunetiin, January 18: The second and principal wool-sale of tluf sca/Dn will bo,-held to-morrow. The total number of bale« to be offered is 22,139, as against 24,176 at tlie corresponding sale last year. It is stated -that the 'wool forward for this sale does not- compare favourably with tho previous clip, being lacking in lustre aud the soundness of the previous season's wool, and being also -generally heavier in condition. -