WELLINGTON WOOL SALES.

Hawera Star, Volume XLVIII, 18 November 1924, Page 9

WELLINGTON WOOL SALES.

PHENOMENAL PRICES. KEENEST RIDDING BY BUYERS. WOOL OF EXCELLENT QUALITY. (By Telegraph—Special to Star.) \VERiLINUTON, Nov. 18. Wellington’s opening wool sale is described as phenomenal, but tiiere is no doubt about tne increased range of customers, nor tjieir keen anxiety to obtain wool, not a bale being passed. Quite 80 buyers attended, and bidding was Keen and weil spread. When some line was offered that* America, Bradford and Germany wanted bidding was furious, and often the jumps were in pennies instead of fartniugs, and the auctioneers had to be .extremely alert to keep pace. The American representatives operated freely, and their bidding helped values to ascend, for tiiey were pushed hard by Bradford and Germany. Best crossbreds and Romneys were taken by America tinder severe Bradford and Continental competition. An important element is the improved exchange for the New Zealand, seller, who gets 41 cents more to the £ sterling than last year. Halfbred wools were wanted by the Dominion mills, also Bradford and France. Bellies and pieces were secured by France and Italy and the local mills; while Japanese and. New Zealand scourers keenly bought crutchings. On'e incident fehbiVed that buyers resented the endeavour to force the high market still higher. A classified and lotted clip was being offered. One lot made 25£d, but 011 a similar lot the seller wanted 26d, and the lot was passed in. Buyers immediately came to the conclusion that the grower had an absurd idea of the value of his wool «iid refused to bid for the remainder of that clip. It was not until the passed-in lot wks sold at the orice offered that the bhvers were willing to bid. for that clip. . The opinion of Messrs- Dalgety and Co, on-the offerings is that the quality and condition could be termed ,par‘excellence. “We can never remfember Koinney anti crossbred wools opening up' nt the first sale in such condition, the majority of the wools being of splendid colour, sound; well grown, and very light in condition.” d'heir report continues.: “The squatters dream of 24d per lb for crossbred \vool. has now 'been realised, and' the hope of all growers is that the realisation may be of long, duration. Wool after to-day’s sale is high, dangerously nigh. He do not wish. to aopear as pessimists, hut still a limit 'of high pi-ices has been reached. and the breaking point sooner or later will he recorded. America made the sale today. Bradford took, very little wool, and Germany, who last year at the °P'f nir >g sale and then right throughout the season set a merry pace, bought largely, taking throughout the seafeon 11)6,190 bales,, bought to-day pfacticklly nothing. Japan was not in the market, but France was keenly interested iii super-bellies- and pieces, cpso a few odd lots of fine quality fleeefe, and secured a fair quantity of wool. Italy Was. buying, and took a teiv parcels of Small quantity of carding wools which were offering Verv few lots suitable to the . Dominioii woollen mills ivere catalogued, hut anv that were were easterly siiapued uu at prices above outside biivbrs. As'the majority of the’ wbols offered were stylish, well-grown, sound and. light in conditmn. America was, as previously stated much interested, and appeared to be buying all suitable lines without limits. UnfortiuuitOlv the USA is 0 spasmodic Imyfef, in* at one "sale and °c lt . J . at U rillot lei ’v 'their support, or lack of it, has created a good many anomalies which are difficult to explain to growers We see IVO reason why aiiv serious fall m values should take place, but i it would lie a brake person who would speculate in wool at to-day’s prices.”

BROKERS’ REPORT. (By Telegraph— Special to Star.) WELLINGTON, Nov, 18. The New Zealand Loan anci Mercantile Agency Co, report: The opening sale of the season was held to-day. Catalogues comprising 7000 bales were submitted by the brokers. The quantity offered at this.sale was very much less than at the November sale last season, owing mainly to broken weather interfering with shearing operations. There was a very full attendance of the trade, and competition was keen and sustained throughout the sale, and the prices realised were the highest ever obtained in New Zealand, and represented an average advance of about 4d per lb on last season’s closing rates. The selection was extremely good, the wools opening up in very light condition and "much better grown this season and brighter in appearance . Competition was very keen on American aiid Bradford account, and suitable wools were well supported by Continental operators. Clips classed by us in store on owners’ account met with an excellent reception, and binned wools sold at remarkably good prices.