TONE BETTER THAN EXPECTED.

Evening Post, Volume CV, Issue 57, 8 March 1923, Page 7

TONE BETTER THAN EXPECTED.

(UNITED PRESS ASSOCIATION.—COPYRIGHT.) (AUSTRALIAN - NEW ZEALAND CABLE ASSOCIATION.) LONDON, 7th March. At the wool sales 12,082 bales were catalogued, of which 5164 were Australian and TJ79 New Zealand. There was a capital selection of crossbreds, and small and poor selections of merinos,. chiefly speculators' wools, on ■ which were high-priced reserves. Many were'withdi'awn. There was a large attendance and good competition. The tone was much better than anticipated. Prices for fine sortj were generally well maintained at the London February closing level. Medium were from -par to 5 per cent, lower, shabby 5 per cent, lower, . scoureds and slipes 5 per cent, lower; merinos par to 5 per cent, lower. New Zealand lambs, "C.0.C.," 24d.

Messrs. Johnston and Co., Ltd., are in receipt of the following cable from their London agents, Messrs. John Connell and Co.,Pty., Ltd:—"March wool sales opened. Crossbred market easier. Compared with closing rates February series fine crossbreds declined 5 per cent., medium and coarse crossbreds declined 5 per cent, to 10 par cent. 1' Mesrs,. Dalgety and .Co., Ltd., report having received the following- cablegram from their London house under date of the 6th March :—

"Wool sales opened with attendance of buyers large, competition animated, fair selection. .Continental buyers are the principal operators, Home trade competing, but with more reserve. As compared with last sales' closing rates, merino wools nothing offered, halfbred Id to •l£d lower, crossbred fine and medium quality £d to Id lower, crossbred coarsp quality lower, sliped and crossbred scoured Id to 2d lower." Following is range of prices: Halfbred, 50-56, good to super, 18^-d to 22d; low to medium, 16£ dto 18d. Halfbred, 48-50, good to super, 17d to 19d ; low to medium, 15d to 16£ d. Fine crossbred, 46-48, good to super, 15d to 16gd; low to medium, 12d to 14d. Crossbred, 44-46, good to super, 12d to 13d; low to medium, 9>Jd to 11-^d. Crossbred, 40-44 ; good to super, lOd to lid; low to medium, B£d to %d. Coarse crossbred, 36-40, good to super, 9^d to 10jd; low to medium, 8d to 9d.

The Wairarapa Farmers are in receipt of the following cablegram from their London agents, under date 7th March:—"Wool sales have opened to a large attendance of buyers,. and good competition. Compared to closing rates of previous sale, line crossbred shows no quotable change. Medium and coarse crossbreds declined 7A per cent." The British-Australian Wool Realisation Association, Ltd., London, advises the New Zealand Wool Committee, Wellington, dated 7th March, as follows •' — "Sales opened yesterday. Total offering 12.000 bales, 6500 account Bawra. Good competition. Prices compared closing rates last series: Merino 5 per cent., fine crossbred par 5 per cent. ( medium crossbred 5 per cent., low crossbred 7i per . cent., slipe 10 per cent, easier. Continental buyers active, particularly France."

The Department of Agriculture lias received the following cablegram, dated 7th March, from the High Commissioner for New Zealand, London:—"Wool.— Sales opened in London on 6th instint with large attendance. Competition was keen from Continental buyers, but the Home trade was reserved. Compared with last London closing rates, merino and fine crossbred ruled from par to 5 per cent, cheaper, and medium and coarse crossbred from 5 per cent, to 7£ per cent, cheaper."