WOOL SALES

Otago Daily Times, Issue 15705, 6 March 1913, Page 7

WOOL SALES

GOOD COMPETITION,

Preas Association—By Telegraph—Copyright. LONDON, March 4. The wool sales opened strong at prices ranging from par to per cent, advance.

(PeK' United Pbess Association.)

WELLINGTON, March 5. The High Commissioner's cablegram of March 4 says regarding the opening of the second series of colonial wool sales:—

Tho wool sales Jiavo commenced, with a largo attendance of buyers. There ib great demand in tho market, home and Continental buyers competing freely. American buyers are cautious on Account of the unoertyinty regarding the tariffs. Tho consumption is large, and the demand exceeds tho supply. The market is strong, and all stocks are advancing. Merinos and fine crossbred® are unchanged; medium crossbredu and coarse crossbreds are id higher than at the last salo. Seventy-six thousand four hundred bales of New Zealand wools are catalogued. Tho estimated values at the close of the first series of colonial wool sales, dated London, January 29, 1913, were Superior jpcrinoe, Is to Is ; medium, lid to Is Id j inferior, 9d to lQ£d; fine crossbreds, Is Id to Is 3£d; medium, lid to Is l|d; coareo, 9£d to Is Id,

March 5. (Received March 5, at 11.15 p.m.) There was an excellent selection of croesbrcdS and a fair lot of merinos. There was a large attendance and keen competition, all sections operating. Compared with the January closing rates merinos were from par to 5 per cent, higher, best crossbreds unchanged, others 5 per cent, to per cent-, higher. The advance was most marked in the coarser grades. Messrs Dalgety and Co. .report having received the following cablegram from their head office, dated London March 4:—"Wool sales opened. Attendance of buyers is largo, competition animated, selection fair. A3 medium crossbreds 5 por cent, higher, coarse croeabreds 7A per cent, higher, merinos fine crossbreds, par to 5 per cent, higher."

Tho Bank of New Zealand has received the following cable apices from its London effico regarding the opening of tho present series of London-colonial wool sales in London : —" Tho sales ihavo opened with strong competition and large attendance of buyers. Thero is a good demand .for all binds of wool. Total net quantity New Zealand available, 75,000 bales. The , market is strong, prices unchanged for fine crossbred, and' 5 per cent, to % per cent, higher for medium and coarso crossbred."

The National Mortgage and Agency Company of New Zealand is in receipt of tho fallowing cablegram from its London office, dated 4th inst." At the March series of wool sales, coarso crossbreds opened at an advance of per oent. on last soles' closing rates. Bidding was keen. Other classes lmvo advanced 5 per cent., and American qualities remain unehnnged." Tho New Zealand Loan and Mercantile Agency Co. has received the following cablegram from its London office relative to tibe opening of the second eeries of wool sales yesterday :-"Thoro was a full attendant at tho opening of tho sales to-day, competition by _ Home and Continental buyers being spirited, and prices as compared with the close of preceding series ruled about 5 per cent, higher. The opening catalogues were fairly representative for merino, fine, and medium crossbred wools. As compared with last eales' closing rates, prices aro about 5 per cent, to % por cent, higher for coarse crossbred. American operators aro buying."