HIGHER WOOL VALUES.

New Zealand Herald, Volume LXV, Issue 20114, 27 November 1928, Page 12

HIGHER WOOL VALUES.

CONTINENTAL DEMAND. BRADFORD BIG OPERATOR. JIAM'MIKII TOI'S TilK SALE. MM; HALES REALISE 25».| I I AUCKLAND AUCTION OPENS. Tho first large selection or top-making wool which has boon offered in Now Zea lnnd <his season excited remarkably keen and highly-representat'vo bidding at thp opening Auckland wool sale of tho year held in tho Town Hall concert chamber last evening. Values at tho initial local salo last season caused widespread satisfaction throughout the province, but last evening they were exceeded on tho aver age by a halfpenny to a penny per pound. Public interest in the salo was great. Every available seat in the gallery was occupied and scores stood there and lined tho sides of the ground floor enjoyum the ppectaclo of a full bench of buyers, re present.'itivo of nearly dl tho vvonl-consum-ing centres of tho world, frenziedly bidding for Auckland's dip There was a bright tono throughout. Auctioneers and agents were in complete agreement that the salo was eminently satisfactory to growers. The clip generally was heavier conditioned and more creasy than those so far offered throughout the Dominion. Tho prices realised were approximately on n par with tlmse obtained ai Wellington, Wanganui and Napier, but having regard to tho circumstances mentioned are really better than they appear. Get-Up of the Clips. A prominent English buyer remarked that the get-up of the- clip in Auckland, although improving steadily, still left something to bo desired. There were many small clips of eight or ten bales, which contained many different grades of wool, lumped together. It would be far more advantageous to such growers to have their wool re-classed and offered in a form which guaranteed that each classification was of uniform quality, for at present buyers, in assess ng the value of such clips, had to "play safe" and bid conservatively. For (hat reason, the Auckland safe was always somewhat erratic, but. values riahsod l;»st evening had been remarkably jatisfactory to growers. Il was the first large offering of topmaking wools which had faced a buying bench this season and it had attracted the keenest competition. The Continent —Franco and Germany—and F.radford had secured the great bulk of the evening's offering, Bradford, in particular, operating much more freely than at the opening salo last year, "10-morrow will bp the greater test, remarked the buyer. He mentioned that the Auckland offering was about 10,000 bales greater than any sold so far in New Zealand this season. Cablegrams would be sent to principals on the other side of the world during the evening and tho replies received would determine the immediate future of the market, but it appeared sound. Few Lots Passed In. B dies and pieces were, to use the words of one auctioneer, "away up" above the values of the November, 1927, auction He assessed the rise at about twopence a pound and there was confirmation of his statement on all hands. Strong wools, particularly, sold better than last year and fine wools in many cases showed an improvement upon realisations at other sales this season. Few lots were passed in. In a gieat many cases, in fact, lots sold well above the reserve figure, indicating that the sale had exceeded expectations. "They are wiso to know when they are very well off," remarked one buyer. Yet there was an occasional lot "passed." The top price of the evening was reached early in tho evening, when nine bales of reclassed halfbred wethers sold for 25d a pound. It, was part of the clip of O'Brien Brothers, VVaiheke, which topped tho opening salo last year at 26£ d. More of the same clip sold as follows: Seven bales of halfbred ewes, 24% d; five bales of halfbred hoggets, 23d. Ross and Glendining, Ltd., wore the purchasers. The official rango of prices will riot be available until after the conclusion of the isn lo to-day. Of tho total cataloguo of 22.345 bales about 9700 were sold lust evening in three hours, or at the rate of over 50 bales a minute. Assuming tho average value of a bale to bo about £25, this represents a flow of money to tho graziers of the province at tho rate of approximately £lB a, second. Assuming again a value of £25 a halo for the total offering, there will bo £500,000 to be distributed in a fortnight, among Auckland woolgrowers. Taking three farthings as the average advance per pound over ic.disations at tho November, J 1)27, sale, it represents about. £1 a bale, or over 1120,000, more on the total offering. Ihe sale will reopen at. lone o'< luck this morning. MEN FROM MANY LANDS. THE BENCH OF BUYERS. The boneli of nearly 70 buyers ,il I lie opening ~nd wool sale last evening is probably a record lor the city. Kvorv wool rniisiirning country was represented, many of the buyers leing natives of the countries where their principals have, their headquarters. Ktiglishirien, Americans, Frenchmen, Germans and others bid keenly for the various offerings. The list of buyers present, iu Auckland is as follows : At 11 io Grand Hotel.—Messrs. F. S. Lnvrock, K. B. Clark, .1. B. Claik, C. ,f. Ferrior. H. T. Millies, P. 11. Brown, A. M. Tartakover, II K. Kirbv, E. Milne l ., \V. I. Carney, O. Sommer, F. Leonhard. K. J. Fulton, 11. Hull, 10. Bickaid, C. Oagysens, O. P.oseine, A. Parker, H. Hill, It. H. Hill, G. Graichon, G. (i, Anderson, 11. N. Calbraith. S. P. War. linrton, A. S'mith, K. .f Denny, S. Teal, H. W. Brown, I). Davidson. A, Iv Barker, A. Nieholl, S. Wade, S. Ilowarth. X, f Oreo, C. Hughes, L. Ibusley, E. R. f jnp A. N. Copeland. At the Hotel Careen.—Messrs. I", fj A vent, J. S. Duke, R. K. M jhinn, L Van de Poole, M. Pint. P. T. Robinson. Watsou Dawson, L. Wood, It. (j. Varlow, G. If. Davis, D. Walker, 11. Ellen, J. F Miller, N. Andrews, V. Moulton" V. do Graeve, 11. Can, ,|. S. Bronksbank. H Ellingworth. M. Kun/li. ,F. Keddell. A E F!ond, B. Selos.se, r. j. provost, J, Bowon A. C. Lushell and F. Marshall.