LONDON WOOL SALES

Otago Daily Times, Issue 14897, 28 July 1910, Page 7

LONDON WOOL SALES

Pross AB3aciai.cn—By Telegraph—Copyrtgrn

LONDON, July 26.' The sales closed firm, combings realising the highest prices of the series.

(Received July 27, at 11 p.m.) Compared with the May,sales, merino; combings closed Firm, prices being unchanged, but short, faulty sorts declined 10 per cent. Fine greasy crossbreds were 'unchanged, while inferiors advanced 5 per cent. Scoureds anu slipes were from par to Id .cheaper. Lambs' wool declined 5 per cent. The tone of the market is ■cheerful, and. the prospects are good. The United States trade is improving, The Moeraki clip sold up to 13Jjd, the average price being 12|'d, During the series 81.dK) bales were sold', for the home markot,,ti,7oo-to Continental buyers, &nd 300 to American buyers, while 31,500 bales were held over.

The Bank of Now Zealand has. received the followinir cable advices regarding tho closing of tho present series of Londoncolonial wool sales:—"Tlie sales close firm for crossbreds. Prices for coarse crossbreds have risen par to 6 per cent. Tho America lis are not taking- any of their usual wools. 32,000 bales 'held over, ofwhieh 25,000 are New Zealand. Current prions for North leland farmers' lots, Palm«rst<m N<rth style:—Coarse crossbreds, 36/40's quality, average condition, 9Jd to lOd per lb; medium crossbreds. 44/46's quality; average condition. Hid to 12d per lb; fine crossbreds. 50's quality, averago condtion, .1.33 dto 15d per lb. Current prices for South Island farmers' lots, Canterbury stylo: —Inferior merino, common 60/64's quality, 9|d to lOd per lb; superior merino, super 60/64's quality, 12Jd to 13Jd per lb; half or quarterbrad, 66's -quality, ll£d to 12Jd per lb. Tho prospects for all wools next series are favourable.

Tho Now Zealand Loan arid Mercantile Agency Company is in receipt of. the following cablegram from its London office regarding the closing of the fourth;series of wool sales :.—" Sales closed with good competition. As compared/with last sales' elosing rates prices are about the same for greasy crossbred; about 5 to 7£ per cent, lower for crossbred lambs; and about 10 per cent, lower for scoured merino inferior, There were 127.000 bales sold; 42,000 bales for the Continent, and 32,000 bales held over."'

Tho National Mortgage and Agency Co. is in receipt of a cablegram from its London office, advising that the 1 wool sales closed at a decline of 5 per cunt, on 'opening rates for inferior and faulty merinos, and at an advance ,of 10 per cent, on opening rates for coarse crtxrshreds. Other descriptions of wool were slightly easier.