COMMERCIAL

North Otago Times, Volume CIV, Issue 13667, 8 September 1916, Page 4

COMMERCIAL

ENGLISH WOOL SALES. COMPETITION SLACK, (Per Onlilo-rl'rcßß Association—Copyright.) (Australian mid N.Z, (Jalilit Association.) LONDON, September (], ■At the wool sales 8229 bales were catalogued, of which,Hl2l were New Zealand,' There was a large attendance but a very inferior selection of wool was offered, Competition was somewhat slack. Best, crossbreds recovered id to Id from the July closing rates; slipes were very firm while merinos and other sorts were unchanged. There is a. decidedly hopeful feeling in cj'ossbreds, mainly because during the last few days the Government 'com-' menced to make deliveries of ti portion of - : the English clip, which brought lower levels than current rates for colonial. To everybody's surprise the invoices show that the .Government, is charging about 4d a pound more than the maximum rates paid to the English farmer. This naturally enhances Hie value of all colonial wools and is causing a renction, In reply lo the Colonial Wool Merchants' Association's inquiry to tho Board of Trade the Director of Army Contracts writes: The Department at present has no intention of buying Ihe colonial wool dip. The position as regards Hie Supply of .wool, however, is being carefully watched.. Notice will be given the trade of any action that may be decided upon,

IMPERIAL WOOL RESTRICTIONS, CONTROL OP COLONIAL WOOL. (Par Cable—Prosn Association—Copyright.) (Australian and N,Z. Cnhlo Association), LONDON, September 0. At the wool trade conference the War Trade Department stated that tlie Com-' mittee were considering the question of granting licenses for the export of finished woollen goods, but, the Committee did not consider it advisable to grant further licenses until the. supply for. Great Britain .was sufficient to meet all the needs and leave a. surplus. Applications for the export of jute wrappers to the colonies would most likely be' freely granted, Information was given showing that tho exportptions of finished woollens to the' United States and British East Indies were 130 per cent below normal; to Italy and Greece GO per cent, below-normal; to Japan, 75 per .cent.; to China 77 per cent,; aiid to. Mexico 80 per cent,;'while the exports to France' were' considerably above the average; to Australia, 33 per cent, above; to Canada, 10 per cent, above; to South Africa and New Ztialand, 100 per cent, .' above. The Committee will'' not consider' licenses for countries 1 adjoining Germany or in German occupation, The members of the trade pointed out that the stock of tops was 'only 8(0 per cent, of normal times and crossbreds only CO per cent.,, and they expected it 4 to be less each month owing to the number of pivot men being called up. Tho supply available for the general trade would be further, reduced as tho number of troops mobilised increased, and owing to the. English clip being under Government control, . ' ; ■ '

HIGH COMMISSIONER'S REPORT. (Per Press Association.) : WELLINGTON, September 7/ The Department . of' Agriculture has received the following, communication dated London, sth September, from the High Commissioner: (f The wool sales commenced with a firm market and a good demand,- Merino and fine crossbreds of . all'grades are firm at last quotations; medium aiul • coarse crossbrods of all grades, |d higher than last sales; . Prospects are favourable. The total net'quantity of . wool available i5'432,000 bales,' The estimated values given on last wool sales, are: Pine crossbreds, all -'grades, Is 8d to Is 10id; medium crossbreds, all, grades Is 4d to Is 7d; coarse crossbreds, all grades, Is 2d to Is sd; superior merino, Is 9d to 2s; medium merino, Is sdto Is. 81d; inferior merino; Is 2d to Is 4id, The Bank of New Zealand hag received the following cable from its London office: Crossbreds par to 5 per cent, dearer; merinos, unchanged.