COMMERCIAL.

Gisborne Times, Volume XXIX, Issue 3346, 12 October 1911, Page 2

COMMERCIAL.

LONDON WOOL SALES. (United Press Association—Copyright.) LONDON, October 10. At the wool sales Pareroa clip realised llkl (top price), with an average of 10|d; Sandoft, top price 9£d, average B*d. The sales closed firm, prices being unchanged. HIGH COMMISSIONER’S CABLE. (Per Press Association.) WELLINGTON, October 11. The following cablegram has been received from the High Commissioner dated London October 10th, regarding the closing of the fifth series ot colonial wool sales: The wool sales have closed with a fair demand for all qualities at present market value, the Americans not buying. Trade is good, and manufacturers are busy. The prospects are favorable at a reasonable price, provided no further political complication arises on the Continent. There were 19,000 bales of New Zealand wool held over. The., estimated values are as follows: Superior merino, 114 d to Is Id; medium merino, 9£d to lid; inferior merino, 74d to 9d; fine crossbreds (all grades), lid to Is Id; medium crossbreds, 8d to 10£d; coarse crossbreds, 7d to lOd. LOCAL ADVICES. Messrs Murray, Roberts and Co. have received the following cablegram from their London house, Messrs Sanderson, Murray and Co., under date October 10: —The wqol sales have closed. The total held over w r as 26,000 bales. The competition was good. Compared with closing rates at last London sales, for crossbred greasy and coarse the market shows no material change. Compared with the opening rates at the present London sales for all other descriptions of wool the market was weaker. The Bank of New Zealand to-day received the following cable from their London office re wool sales: “The sales close firm for all kinds of wool. The total quantity held over is 26,000 bales of which 18,000 is New Zealand. There is a good demand for coarse crossbreds. Prospects are fair.” The New Zealand Loan and Mercantile Agency Company, Limited, are in receipt of the following cablegram from their London office:—“Re wool sales: Average current London value of New Zealand greasy wools, good merino 13d, medium merino 10-id, . inferior merino 8-J-d, fine crossbred 12d, medium crossbred 9.fd, coarse crossbred (40’s) 9Jd, coarse crossbred (36’s) 9d; 26,000 bales of wool held over; 102,000 bales sold at series; 40,000 bales taken for Continent; sales closed fairly good; 1000 bales taken for America. As compared with last sales’ closing rates, prices are about 5 per cent lower for greasy merino medium, and about 10 per cent lower for scoured mernio inferior.” Messrs Dalgety and Co., Ltd., have received the following cable from their head office, London: —“Wool sales: The sales have closed; prices were fairly maintained. As compared with last

sales’ closing rates, since our last wire scoured merino wools super are 5 to 7 per cent, lower; scoured merino ivools medium 74 to 10 per cent, lower; scoured merino wools inferior 10 to 15 per cent, lower; greasy medium wools, good quality and condition—par to 5 per cent, lower; greasy medium wools, medium sorts, 5 to 7\ per cent, lower; greasy medium wools, inferior, 7\ to 10 per cent, lower; greasy crossbred wools, fine quality, to 10 per cent, lower; greasy crossbred wools, coarse, par to 5 per cent, lower; scored crossbred wools 5 per cent. , lower; slipe wools 5 per cent, lower. The total net quantity available amounted to 138,000 bales, of which 2000 bales were sold to America; 70,000 bales were sold for home consumption; 40,000 bales were sold for the Continent; 18,000 bales were not offered, arid the balance carried forward.”