LONDON WOOL SALES.

New Zealand Herald, Volume LI, Issue 15549, 5 March 1914, Page 7

LONDON WOOL SALES.

MARKET VERY EXCITED.

BRISK COMPETITION.

GOOD ADVANCE IN PRICES.

By Telegraph—Press Association— Copyright

'Received March 4, 6.5 p.m.)

London, March 3. The wool sales to-day opened with brisk competition. The market was very excited. Merinos advanced 5 t<> T.\ per cent., and crossbreds fullv 10.

very excited. Merinos advanced 5 t<> T.\ per cent., and crossbreds fullv 10. There were on view 87-23 hales, ineluding 5644 from New Zealand. An excellent selection of erossbreds was provided. There was a large attendance, including a record number from the United States. The keenest com tition for all classes took place, the. United States and Yorkshire bidding excitedly for erossbreds, and Yorkshire and the Continent for merinos. LOCAL ADVICES. The manager of the Bank of New Zealand, Auckland, lias received the following cablegram from the London office:—"The sale* have opened with strong competition, and largo attendance of buyers. There is au active demand by all branches of the trade. The market is strong for all kinds of erossbreds. Prices are higher for coarse, jd to Id per pound, and for medium and fine, Id to per pound. Total net quantity New Zealand available, 60.000 bale*.' - The New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from their London house, under date, 3rd in6t. :— There was a full attendance at the opening of the sales to-day. Competition by Home. Continental", and American buyers being active, and prices as compared with the close of the preceding series ruled about 10 per cent, higher. The opening catalogues were fairly representative. Crossbred, 5 per cent. ; merino wool, 7$ per cent.