BEST OF SEASON

Evening Star, Issue 22596, 13 March 1937, Page 14

BEST OF SEASON

THIRD WOOL SALE AT CHRISTCHURCH PRICES A PENNY HIGHER ALL ROUND EVENLY DISTRIBUTED DEMAND [Bek Ukitkd Press Association'.] . CHRISTCHURCH, March 12. Easily the most satisfactory wool sale of the Christchurch season was the third auction held to-day, when 26,000 bales wove offered. Prices all round were fully a penny higher than they were at the February sale, when quality is taken into consideration, and the demand was more widely and evenly distributed. Every class of wool found a ready purchaser. Bidding was animated and sustained, and passings were less than .1 per cent. . The offering was typical of the third sale, and included a good quantity of merino and back-country halfbred clips, as well as a fair weight of cross-bred from late-shorn Peninsula clips and from the West Coast. The wool was not in such good order as that offered at the earlier sales, the bad weather having left its mark in a certain amount of yolk stain. There was, however, a large quantity of useful wool, though only odd lots of really super, grade. Bidding was determined from almost every buying quarter. Bradford and America competed strongly for the oross-breds offered, and the buying was so determined that the West Coast wools, which are usually rather shabby and carelessly got up, were not penalised. Japan was the mainstay of the market for half-breds, returning strongly’ to the market, but for halfbred types the Continent was strongly in the market. German buying was encouragingly heavier, and there was an appreciable demand from Australian mills for suitable half-breds. The sale was entirely satisfactory, and fully maintained for most types the values established at the first safe. Bidding was freer, and in contrast with the two previous sales no one section of buyers was in control. It will be recalled that at the first sale Japanese competition was so strong for finer wools that Bradford was entirely unable to compete, and the Continent lifted only a small weight. At the second sale shabbier types and hoggets were definitely cheaper. The better merinos and half-breds were up to Id up, and in many cases the rise was more. Half-bred hoggets were about on a par, and medium halfbreds from par to Id. Fine three-quar-ter-breds and all cross-breds were a full Id dearer. Better piece wools were very firm at §d to Id dearer, and bellies, locks, and crutchings were fully firm.The top price of the sale was 24id, which was paid for four bales of halfbred ewe.' Several lots made more than 22d. The best merino price was, 22d, which was reached by several lots. The top price for merino pieces was 20Jd, and the best Corriedale price was 22£d. Cross-bred made to ISJd, which was secured for a reclassed lot; but a number of lines made 18d and better. The range of prices compared with the second sale was as follows:

DISCUSSION OH COTTON MR NASH AT MANCHESTER MEETING JAPANESE COMPETITION Press Association—By Telegraph—Copyright LONDON. March 12. Mr Walter Nash discussed trade i questions with the Manchester Chamber of Commerce and a joint committee of the cotton trade’s organisations. He also discussed steps to meet Japanese competition in cotton goods. Mr Nash, told the Associated Press that he hoped the results would be ■ equally valuable to New Zealand and Lancashire.

Feb. 1. March 12. d. d. d. d. Merino—‘ Extra super. to 231 to 22 Super. 19 to 20 19 to 20* Medium ... 17 to 185 37* to 19? Inferior ... 15 to 16* 14 to 17 Corriedale—. Super. 20* to 24 to 22* Medium ... 18* to 20 19 to 21 Inferior ... 16 to 18 16* to 18* Half-bred— Extra super. to 25 J to 24* Super. 21* to 24 22 to 24 Medium ... 19 to 21 . 19* to 21* Inferior ... 15 to 184 15* to 19* Medium half-bred— Super. 19 to 21* 19* to 22* Medium ... 16 to 18| 16* to 19* Inferior ... 13 to 15* 15 to 16* Extra fine cross-bred— Super. 165 to 19 17* to 20 Medium ... IS to 16* 16 to 17* Inferior ... 12* to 14* 14 to 155 Fine cross-bred— Super. 155 to 17* 16* to 18* Medium ... 14* to 15* 15* to 16* Inferior ... 12* to 14 13* to 15 Medium cross-bred-Super. 16* to 17* to 18 Medium ... 14* to 16 15* to 17* Inferior ... 13 to 14 14 to 15* Pieces— Super. 18 to 23 19 to 205 Good , ... 14* to 17* 15 to 18* Medium ... 12 to 14 12* to 14* Inferior ... 9 to H* 9* to 12* Bellies— Good to super. ... 14* to 19 to 19 Inferior to medium 9* to 14 10 to 15* Locks—Good to super. .. 95 to 11* 10 to 11* Inferior to medium 7 to 9* 8 to 95