INVERCARGILL WOOL SALES
MINING NEWS
BUYERS DEMAND EXTENDED "PROMPT." By Telegraph.—Press Association. Invorcarglll, January 14. The wool sale was delayed, not starting ■until fo.ur o'clock owing to the attitude of buyers requesting Brokers that the time for payment be extended beyond the usual fourteen days to such time as ships are available to carry the wool. Tho buyers stated that up to the Ohristchurch sale on January 10 and 11 they had been able to get their purchases away, but this week 17,000 bales had been bought, and there was space available for only 7CCO.' Some buyers also have part of their purchases at the TiTTin.ru sale for which they aro unable to procure space. The only freight in sight will provide space' for only "23.0C0 bales, and it is estimated that 70,000 will bo offered during the next four weeks. Therefore, they decided they could not afford' to go on under the old conditions of payment, as it would mean a tremendous overdraft. at the banks, and • ultimate automatic stoppage of operations uuloes tho wool is shipped as usual to the buyer. Before a banker will pay he must have the shjaping documents, which can only bo given when the ship is named. After several conferences the brokers agreed to the buyers' stipulated terms. Consequently the farmers have given the same extension for payment to brokers. The sale was a record one; 13,704 bales were catalogued, and practically all were sold at prices a penny better all round than Dunedin and Ohristchurch ranges. The rang© of prices were:— Halfbred. , Super to good, 17£ d. to 19d. 1 Good to mediums, 16Jd. to 17d. Medium to inferior, 16d. to 16Jd. Fine Crossbred, Super to good, 18d. to 183 d. Good to medium. 16Jd. to 17Jd. Medium to inferior, 14Jd. to 151 d. Strong crossbred, 16d. to 17d. Good to medium, ISJd. to 16d. Medium to inferior, 14Jd. to 143-d.
WELLINGTON SHAKE MARKET, There was 110 business done in the mining market yesterday. The quotations were as follow:— Buyers. Bellert. £ s. d. JB a. d. Talisman 0 15 3 — Waihi - 1 16 9 — Dominion Developing ... 112 6 —
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Bibliographic details
Dominion, Volume 9, Issue 2669, 15 January 1916, Page 8
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356INVERCARGILL WOOL SALES Dominion, Volume 9, Issue 2669, 15 January 1916, Page 8
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