Wellington Wool Sale.

Manawatu Herald, 27 January 1903, Page 3

Wellington Wool Sale.

Messrs Levin and Co., Ltd., reports 3754 bales were offered by the various brokers. A large attendance of buyers was present, several, representatives of European houses being present for the first time. As compared with the sale held on 19th December, there is little change in values to report. The rise here in December was in anticipation of the rise in London shown at the sale just opened, so it was hardly to be expected that wo should see a further substantial rise. Medi im and coarse crossbreds, however, might be said to bo a farthing dearer. Lambs’ wool was in good demand, average lambs bringing 5d to 54d, and superior sold as high as 6|d. We quote Half bred s, 8d to 7£d per lb ; superior fine crossbreds, 5Jd to 6Jd; medium crossbreds and Romneys, 4Jd to 5-|d; coarse crossbreds and Lincolns, 4id to s|d; logstained and inferior, 34d to 4Jd ; lambs, superior, 5Jd to 6^d; lambs, medium, 5 to A large proportion of the lines was sold under the hammer, growers being glad to take the prices ruling, but after the sale it was disclosed that some of the reserve* on passed-in lots put upon wools by growers were Id to Hd more than value. It is hard to know why wool is sent in for sale at all if the grower is not going to sell at current market rates, and it is harder still for brokers to realise why growers should consider it good business to offer wool hampered with these reserves. Some day, however, growers will recognise the fact that high reserves are in the end hurtful to themselves, and then, and net till then will the local sales be thoroughly successful.'