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Northern Advocate, 5 February 1934, Page 9

END OF LONDON SERIES

I - - . I ACTJVE TO THE END. INCREASED PRICES. (United Press Association— By Eloctn* Telegraph.—Copyright.) (Received 0 a.m.) LONDON, .February 3. At the closing London wool sales yesterday 530r> bales were offered, including 2d9;i from New Zealand, and 4002 were sold. There was fairly good home and Continental competition, with a steady tone.

Now Zealand Mips sold as follows: Greasy crossbred, “Paroa,” top priee, ISJd; average, 9 5-Sd; lialfbrcd lambs slipe, “Eclipse,” 19d and IS 5-Bd. . The total catalogued during the I series was 123,842 bales. Sold; Homo 53,200, Continental 55,800, held 15,000. Total Australian sold, 01,000; New Zealand, 42,000. The sales closed steady at recent levels. Quotations were dearer, compared with December, closing as follows: —Merinos, greasy, super, 10 per cent; other fleece wools, 7 Id; pieces, 15(1; course, IDcl to 15d; crossbred, fine, 15d; medium, 7ld; coarse, sd; slipes, 15d to 20d, Describing the outlook, Messrs H. and Sons, write: —The slight reaction at the London sales from the peak values was healthy and should not cause any disturbance. Confidence in the consumption of wool continues apace, without any. material alteration in machinery activity in the consuming centres. Wool had been at an extraordinarily low figure for practically three years, and definitely stimulated the demand for it; self. The major proportion of the advance has been in a measure corrective, but it must be digested through - ■out all sections of the industry. The competitive power of' other textile commodities, including silks, -which has dropped 4/ a lb in the last six months, will be felt more keenly now that wool has reached a higher level. Botany tops are selling at eight times the values of American cotton, which, together with rayon (produced on highly scientific lines at a steadily increasing pace) places the manufacturer iu a difficult and complex situation, The world’s stocks of cotton to- • tailed 41,000,000 bales, and the carryover of American cotton was almost equal to the full crop. DALGETY’S REVIEW. SATISFACTORY', RESULTS. ({Special to “Northern Advocate.") AUCKLAND, This Day. - Messrs Dalgety and Company, Ltd., has received the following cablegram from its London house, dated February 2: —The wool sales closed active. Competition was fairly general, but Franco was rather quiet. As compared j with closing rates of last series, prices wore higher as follows: —Creasy merinos, 1W to 2d; scoured, 3d to sd; greasy halfbrod, 2d to 3d; secured, 4d to sd; greasy crossbred, fine,ld to 2d; medium, fid to Id; coarse, fjd to Id; scoured crossbred, lid to 2ld; fine' slipe, 2d to 2-Id; medium and coarse, slipe, lid to 2d; lambs, greasy, Id to 2d. Prices were: Halfbrod, 50-58, good to super, 19d to 23d; low to medium, 16d, to ISld; 50-56: Good to super, 17ld to’2.ld; low to medium, 14d to 17d; fine crossbred, 48-50: Good to super, 12d to 15d; low to medium, 9Jd to 11-lcl; 40-48: Good to super, 10Id to 12id; low to medium, 8d to TOd; crossbred, 44-40: Good to super, Old to lid; low to.medium, 7|d j to 0d; 40-44: Good to super, 0d to 10(1; low to medium, 7Jd to 8ld; coarse j crossbred, 30-40: Good to super, Bld j to 0d; low to medium, 7jd to Sd. j