LONDON SALES

New Zealand Herald, Volume LXXIV, Issue 22629, 18 January 1937, Page 10

LONDON SALES

GOOD CLEARANCE STRONG COMPETITION POSITION SELDOM SOUNDER (Received January 17, 5.5 p.m.) LONDON, Jan. 10 At tho London wool sales to-day 8703 bales were offered, including '2213 New Zealand, and 8046 were sold. There was a moderate selection and strong competition ruled for best wools, with an easier tendency among poorer Merinos.

New Zealand sales included: —Greasy half bred, "Owhako," top price, 30d, average, 25Jd.

The general opinion is that tho sales have given a very sane lead, which should make for greater stability. All sections of the trado confirm tho overseas levels and encourago users to accept tho higher costs of tho raw material.

The Yorkshire Post says it considers that the wool position has seldom been sounder. No largo stocks exist, as in 1934. Topmakers, who lost many thousands of pounds in 1934 through the unjustified rise, aro naturally cautious at the moment, and their policy will depend upon the amount of encouragement they receive from their clients. Tho London sales should bring out this support more freely.

FUND FOR RESEARCH MORE PUBLICITY OVERSEAS DECISION OF CONFERENCE (Received January IV, 5.5 p.m.) MELBOURNE, .Tan. 17 Tho delegates to tho Empiro Wool Conference have decided to create an international fund to promote wool research and publicity overseas, and to appeal for freedom of international trado from restrictions jeopardising tho future of the industry.

A sub-committee comprising Mr. <TF. Guthrie (Australia), Mr. Christie (New Zealand) and Mr. G. Maro (South Africa), has been appointed to draft a bill for adoption by the I)o minions dealing with advertising, description, marking, and sale or disposal of manufactured goods made of, or containing, wool. Britain is to be asked to enact uniform legislation.. A message from Sydney states that Miss G. Valentine Howey, who to-day left for New Zealand after two years of business activity in England and 011 the Continent on behalf of wool publicity for New Zealand, said it was good news to hear that the conference had agreed to promote a wool research and publicity fund. However, sho said she doubted the wisdom of aiming at a cut-and-dried policy with British interests only. Progressive manufacturers would bo only too willing to co-operate in a dozen ways with any publicity organisation set up by the growers.

RISE IN CROSSBREDS RANGE OF QUOTATIONS The Bank of New Zealand has received the following advice with regard to tho wool sales from its London office, under date January 15: —Compared with opening rates, greasy crossbreds aro about 5 per-cent dearer. Merino quotations are nominal. Quotations for good average condition: Greasy Merino, super, 60-tils:, 20,Jd to 22d per lb.; ordinary, 60-645, 17d to lfyl; inferior, 60-645, 14d to lod; halfbreds, 56-58s, 20d to 22d; 565, 10,1 to 20d; 50-565, to 18',d; crossbreds, 50s, 16\d to 17id; 48-50s, 16Jd to 17d; 4G-48s, 16(1 to 16Jd; 44-465, 15Id to 16d; 40-445, 15-Jd to 16d; .'36-4 Os, 15Jd to 16d. , »