COMMERCIAL.

Horowhenua Chronicle, 4 May 1910, Page 4

COMMERCIAL.

DALGETY AND CO.'S LONDON REPORT.

"The second series of colonial wool sales for the current year, which opened on Bth instant, closed on 23rd March. The sold quantity is returned as 130,000 bales divided as follows: 78,000 to the Home trade, 46,000 to the Continent, and 6000 bales to America.

"About 10,500 bales Punta Arenas and '2000 bales Falkland -Islands wools have also been sold during tin's series, the former realising aboulb o to 10 per cent, below the 'extreme rates of last series, while the Falkland islands wool was mainly bought by German spinners, and made relatively very full prices. "As reported in our circular of 11th instant, merinos wevb quoted ait the opening par Ito /> per cent dearer, and tin's improvement increased somewhat as the sales progressed. Fine prossbreds ruled throughout about on a par with January rates, but medium and coarse- qualities which wave quoted at the opening par to o per cenlt lower, declined further, and though there has been more competition during the latter half of the sales, good bright lots suitable for America are Jd to Id lower than in .Ta'iuiary, while oither sorts are about Jd lower. Tin's is entirely due .to the reserved attitude of American buyers, as the Home trade has been operating freely throughout and has, as well be seen from the figures given above, purchased nearly three-paaters of the total quantity sold.

"Attendance of buyers has been well maintained throughout the series and competition lias been brisk and active.

"A feature of the sales has been the keen demand for wools of really fine quality, whilst lambs wool, bcxtii merino and crossbreds, has also been well competed for. Another fact worth recording was the offering of several parcels of buyers' wools apparently purchased in anticipation of America n demand. These were mostly limited above market value and consequently withdrawn.

As compared with closing rates of last series, wo quote:— Merino: Scoured, 5 per cent higher; greasy superior, par; greasy medium to good, 5 .to 7£ per cent higher,; greasy earthy and wasty, par; lambs, par to 5 per cent higher. Crossbred : Fine greasy, par; medium and coarse greasy bright light, parcels, suitable for America, 5 to 10 per cont lower; medium and coarse greasy, other sorts, 5 per cenlt lower; scoured and slipe, par; lambs, o per cent higher.

"For next series,- which opens on 26th April, the limit of new arrivals entered for sale has been fixed at 100,000 bales, and the list of ships arrived in time will be closed on the day on which this quantity is reached if that occurs before (the 18th April, on which date (eight days before the opening of the series) the list of arrivals closes automatically.

"Business is still very good both here and on the Continent, and although America, is now quiet we should not be surprised to see buyers for that quarter again in the market later in the year, so that prospects appear favourable for a maintenance of present rates."