WOOL SALES

Evening Post, Volume LXXXVIII, Issue 86, 8 October 1914, Page 2

WOOL SALES

PRICES STRONG IN LONDON HUGE ATTENDANCE OF BUYERS. (By Telegraph.— Press Association.— Copyright.) LONDON, 6th October. At the wool sales, which opened today, 8043 bales were offered, of which 4433 were from New Zealand. There was a huge attendance of buyers for the Home trade, and a few French and Americans. Exceedingly strong competition prevailed for all sorts. Crossbreds were 10 to 15 per cent, above the July closing rates, except choicest American sorts. The ' keenest demand was for slipes and scoured, which showed 20 per cent, advance. Merinos were weak, owing to the absence of Continental support. A Felling broker read the Government's prohibition of export of wools to the Continent, and the announcement was received with loud applause. It' was also announced that the Government desired it known that buyers of wool for exportation to other destinations must purchase at their own risk, as circumstances may render it necessary to extend the scope of the prohibition at any moment. HIGH COMMISSIONER'S CABLED REPORT. The Department of Agriculture, Industries, and Commerce has received the following cablegram from the High Commissioner for New Zealand, dated London, 6th October, regarding the opening of the fifth series of colonial wool sales : — "The wool sales have commenced. There is great competition for all grades of medium and coarse crossbreds ; but less demand for all grades of fine crossbreds and merinos. English manufacturers are the principal buyers. Manufacturers are busy with Government orders for blankets and khaki cloth. Twenty-five thousand five hundred bales of New Zealand wool are catalogued. Medium and coarse • crossbreds, all grades, lJid per lb higher ; fine crossbreds, a.ll grades, unchanged ; merinos, Id per lb lower than closing rates at last sale. A Government Proclamation hae been issued prohibiting the export of wool to the Continent excepting Russia, France, Belgium, Spain, and Portugal." W. and G. Turnbull and Co., Ltd., have received the following cabled information from London, under date 6th inst. : — "Fine wools unchanged. Medium coarse, 12^ per cent. Slipes, scoureds, 20 per cent, advance.