LONDON'S OCTOBER WOOL SALES

Feilding Star, Volume III, Issue 745, 4 December 1908, Page 4

LONDON'S OCTOBER WOOL SALES

Messrs Dalgety and Co. report under date London, October 22, as follows : — The fifth series of colonial wool sales for the current year, which opened on 29th ultimo, was brought to a close last Monday. The net total available is now put at 257,000 bales, of which 219,000 were sold— lo9,ooo to the Home trade, 102,000 to the Continent, and 8000 to America, leaving 38,000 bales to be carried forward to next series, 28,000 of which were not catalogued. More than half the quantity carried forward consists of New Zealand wool. The attendance of buyers throughout wag thoroughly representative, ■ and, with tho exception of some scoured parcels, biddings were good ' and competition keen. This is es- '< pecially worthy of note in view of the large quantity offered, both in the aggregate and also each day and the heavy i>roportioji of small lots. Had there been any want of keenness among buyers, these last were bound to have suffered, as they would not have been properly inspected and would in many cases only have drawn sporting bids, whereas it may be said, speaking generally, that exactly the opposite was the case. Prices also, although showing very little variation, generally finned somewhat as tho series progressed, which points at any rate to a maintenance of present values, aii'l if political complications are avoided we consider some advance not unlikely. There is no doubt the smalhiess ol stocks of raw material in users' hands at the opening of the series was largely responsible for the satisfactory way in which catalogues were cleared, and the active buying on the part of German operators would seem to bliow that the financial troubles feared in that country have beeii successfully surmounted.