THE WOOL SALES

Evening Star, Issue 15540, 9 July 1914, Page 6

THE WOOL SALES

LONDON WOOL SALES. Press Association—By Telegraph—Copyright-.

LONDON, July 8. At to-dav's sale; B.4o3'hales were offered, including 7,782 from New Zealand. 'I h-e was a largo attendance of buyer.-. Jmiio cross-breds were 5 to li, per cent. higher than April closing rates; medium, from par to 3 j>er wit, higher; pooler sorts at par; slipes and medium low sorts, id lower. American buyers are operating freely in fine and medium eross-bredr-. ft is expected that rnerino.s will show a. 5 per cent, advance. (Received July 9, at 11.15 a.m.)

There was a- good selection of crossbred* at fully opening rates. A small selection of merinos sold at 5 per cent, advance.

A KEEN DEMAND. [Per United Fhess Association.] WELLINGTON, Julv 8.

The Department of Agriculture has received the following cablegram from the High Commissioner." dated London, July 7:—Regarding the opening of the fourth series of colonial wool sr.les, which have commenced, there was a large attendance of buyers, and a. good demand for all classes, especially fine wools, which are in small supply. * Americans are. bidding freely. Trade is zood on the Continent, but 'the Home trade is quiet. Merinos and fine crosf oreds, all grades, average -Jd higher; medium and coarse and crossbreds, all grades, are firm at last quotations. One. hundred and seven thousand bales of New Zealand wool wore catalogued.

FINER QUALITIES DEARER

The National Mortgage and Agency Company of New Zealand, Ltd., are this morning" in -receipt of a cablegram from their London office as follows : —" Wool Sales : Fine cross-breds opened at, an advance of 7£ per cent, on last sales' closing rates. There was a large attendance of buyers. Best medium cross-breds are slightlv dearer, while others are unchanged. There is a very small offering of merinos." The Otago Farmers' Co-operative Association report having received the following London cable :—" Wool sales opened to dav, and prices, as compared with closing rates of last series, are : Merino and fine cross-bred, 5 to 7J, per cent, higher; medium and coarse cross-bred, par. Good competition." 'llie New Zealand Loan and Mercantile Agency Company have received tho following cablegram from their London office, dated July 7:—There was a full attendance at the opening of the sales to-day. Competition by Home and Continental and American buyers was active. Tho opening catalogues were not representative. Very little merino wool offered. As compared with last sales' closing 1 rates prices are higher about 5 per cent, for fine crossbred and merino; higher about par to 5 per cent, for medium and coarse crossbred ; market firm. The Bank of New Zealand have received Ifche following cable _ advice from _ their London office regarding the opening of the present series of London-colonial wool sales in London :—" The sales have opened with moderate competition and large attendance of buyers. Total net quantity New Zealand "available, 110,000 bales. There is good demand for fine crose-breds. Prices are easier for coarse cross-breds. The market is strong and prices unchanged for medium cross-breds. The market is strong and prices are higher 5 per cent, to per cent, for fine cross-bred." Messrs Dalgety and Co., Ltd., report having received "the following cable from their head office, dated London, July 7: " Wool sales opened. Number of buyers; is large, competition animated, poor selection. As compared with last sales' closing rates, merinos practically nothing offering ; greasy cross-bred wools, fine quality, 5 per cent, to 7£ per cent, higher; greasy crose-breds wools, medium quality, x>ar to 5 per cent, higher; greasy cross-bred wools, coarse quality, unchanged, except eoarse shabby greasy cross-bred, which are rather lower."