LONDON WOOL SALES.

Otago Daily Times, Issue 15063, 9 February 1911, Page 7

LONDON WOOL SALES.

Press Association—By Telegraph—Copyright.

LONDON, February 7.

The wool sales closed firm. Merinos reached tho highest price of tho series. February 8. ,

(Eecoived Feb. 8, at 11.40 p.m.)

At the. wool sales the attendance was remarkably well sustained. Choice merinos closed\ at par as compared with the December sales, but medium declined 5 per cent., faulties 10 to 15 per cent., and good scoureds 7£ per cent. Crossbreds weakened during the sales, closing from par to 5 per cent, below the December rates; medium from 10 to 15 per cent, and coarse 7£ to. 10 per cent. Good lambs' wool was firm, but faulty declined from sto 7£ per cent. At the lower rates competition was good, with signs of returning confidence.

During the sales 113,000 bales were sold for tho home markets, 66,000 for the Continent, and 4COO for the United States, wliilo 17,000 were held over.

The Bank of Now Zealand has received tho following advices rogarding tho closing of the present series of London-colonial wool sales in London:—"Tho sales close firm for all kinds of wool, Total quantity held l over 18,000 bales,- of which 5000 aro Now Zealand."

Tho Now Zealand Loan and Mercantile Agency Company is in receipt of the following cablegram from its London office rogarding tho closing of tho first scries of ■wool sales:—"Sales closed with good competition on tho 7th inst. Thero were 181,000 bales sold, 66,000 bale? takon for the Continent, and 4000 bailcs for America; 17.000 bales wcro held over. As compared with last sales' closing rates, prices arc about 5 to 7i per cent, lower for scoured, merino, inferior, and faulty wool; about 7£ to 10 per cent, lower for medium awl coarse greasy crossbred; about 5 per cent, lower for crossbred slipe and medium and coarse scoured orossbrrd,"

, Tho National Mortgage and Agency Company of New Zealand is in receipt of tho following cablegram from its London office, dated 7th inst.:—" Wool sales: Merinos and fine crossbrtxls closed at an advance of 5 per cent, on oponing rates. Crossbrcds (medium) closed on a par witli opening rates. Crossbrcds (coarse) closod weak, on a par with opening rates."