COMMERCIAL

Nelson Evening Mail, Volume LXVI, 4 March 1932, Page 7

COMMERCIAL

LONDON WOOL MARKET STABILITY OF VALUES LONDON, 2nd March. Offerings at the wool sales to-day were 10,327 bales ,including 1958 New South Wales, 1155 Queensland, 1003 Victoria, 293 South Australia, 873 West Australia, 226 Tasmania, and 3616 New Zealand. Approximately 6205 bales were sold. There was a full atendance and fair Yorkshire and Continental competition. Opening rates were maintained. Sales included: Greases, Victoria, “Skene,” 13j|d to 13gd; West Australia, “Woodsome,” lOgd to lOd ; Tasmania, “EA,” 18 2 L d to 15gd; New South Wales, “Walcha,” 13d to New Zealand, ‘Glendnu,” to lid, and “AHW,” lOd to-Bsd., , Scoureds, Victoria, “Gibb,” 17 2 d to 17|d; Queensland, “Walgra,” to and “Bundoran,” 20d to 19d; South Australia, “Waverley,” 18|d to 17fd. Messrs Levin and Co., Ltd., have received the following cable from their London agents, dated Ist March: —The auctions opened here to-day, with a large attendance of buyers. Competition is not as good as at previous sales. Compared with the closing rates of last series, wc quote:—Greasy merino, best 3d to 2 d per lb lower, average gd to 2 d lower; fine halfbreds, 50/56’s, £d to gd lower; halfbreds, 48/50’s, gd lower; fine crossbreds, 46/48’s, gd lower, medium 44/46’s, gd lower, coarse 40/44’s gd lower, low 36/40’s gd lower; fine slipes, unchanged ; medium and coarse slipes, gd lower; scoured merinos, Id lower. Tlie New Zealand Loan and Mercantile Agency Company Limited have received the following advice from their London office, under date Ist instant:— There was a good attendance at the opening of the wool sales to-day, competition by Home and Continental buyers being irregular. The opening catalogues were fairly representative. As compared with last sales closing rates, prices are lower gd per lb for crossbred slipe, greasy, merino and fine greasy crossbred, and lower gd to J.d per lb for medium and coarse crossbred. BRADFORD TRADE VIEW LONDON, 2nd March. Messrs Dawson, Sons, and Co., commenting on the opening of the current wool sales, refer to the recent quietude in the merino and worsted sections, but against that has to be put the fact that woollens are increasingly active, and a considerable volume of new orders for women’s costumes, mantle cloths, and velours have been received, while the low values of short and faulty merinos and noils is also assisting this section. The position generally suggested stability of values. The Department of Agriculture has received the following cablegram, dated 2nd instant, from the High Commissioner for New Zealand, London : -\VOOI. —Sales opened Ist March with ] ar <rc attendance but moderate competition. Home trade giving chief support Greasy crossbred formed bulk ot offering. Compared with closing rates for last series, merino declined -,d to lcl: fine crossbred, id to Ad : medium and coarse, crossbred, M to ?d; slipe W to 1,1 To-day (2nd March) sales show slight hardening tendency. 149.000 leiies available for series, of which Australian 53,000, New Zealand 70.000, and South American 20,000. The Bank of New South Wales has received the following cable message from its London office, dated Ist March: “Wool market: Crossbreds, fine 5 per cent., medium and coarse 10 nor cent-., slipe 5 per cent, lower than last sale close.” SHIPPING developments LONDON, 2nd March. Apronos the Aberdeen-Commonwcalth Line shipping circles are discussing the possibility of the White Star Lines meeting at Hie end of the month grouping- the line with the Shaw. Savill, and Albion as a, working unit, thus associating the two present most profitable ser-Rocormnendat-ions of the Royal Mail SI earn Packet Company voting trustees vilallv concerning the payment of the .outstanding balance of UlO purchase money of the Commonwealth steamers and the. future operation of the line are believed to be imminent. The Australian Press Association understands that negotiations at Canberra for a settlement’of the liability have been virtually completed.