(Special to Press Association.)

Otago Witness, Issue 1861, 22 July 1887, Page 13

(Special to Press Association.)

London, July 14.

The wool sales closed to-day; 349,500 bales were offered during the series, and 30,000 have been reserved. The opening decline in prices was entirely recovered, but the advance on fine quality wools has been partially lost. All descriptions are about on a par with the April closing sale rates.

The New Zealand Loan and Mercantile Agency Company (Limited) have received the following telegram from their London office, dated 14th inst. : — " The sales closed to-day at the level of last sales, with the exception of superior greasy and fine crossbred — which have advanced nearly |d per lb— and medium and inferior greasy. Faulty scoured and washed have declined nearly |d per lb. The total quantity sold during past sales is 320,000 bales — 154,000 have been sent to the Continent; 16,000 taken for America ; 35,000 held over for future disposal."

The British and New Zealand Mortgage and Ageucy Company have received the following wool telegram from Messrs Helmuth Schwartze and Company, dated London, 14th inst. :— "The sales closed fairly animated without further change. Prices are on a par with average of last series. Taken for export, 165,000 bales ; held over, 30,000 bales."

Messrs Murray, Roberts, and Co. have received the following cablegram from their London house (Messrs Sanderson, Murray, and Co.), dated 14th inst. :—" Sales have closed firm, with good demand for crossbreds."