THE WOOL SALES.

Otago Witness, Issue 2397, 8 February 1900, Page 15

THE WOOL SALES.

The third wool sale of the season was held at the Agricultural Hall on Friday. There was a good attendance of buyers, and bidding was good. A decline of Sd on fine and Id on coarser wools was experienced, compared with the last sale, but the prices obtainpd were about on par with those ruling in other centres of the colony and on the London market. The following are the catalogues submitted by the various brokers : — Bales. Messrs Wright, Stephenson, and Co. .. 2600 Messrs Donald Reid and Co 1281 New Zealand Loan and Mercantile Agency Company (Limited) 1264 Messrs Dalgety and Co. (Limited) .. .. 1207 Farmers' Agency Company (Limited) . . 835 Otago Fanners' Co-operative Association (Limited) 556 Messrs Stronach Bros, and Morris . . 456 Messrs Maclean and Co _. ; . . 440 Messrs A. Moritzson and Co. .. x . .. 306 Total bales 8945 Offered for corresponding sale last year, 9003. The following are detailed reports of sales : — Messrs Dalgety and Company report: — The third series of the Dunedin wool sales were held on Friday, when the nine brokers offered catalogues aggregating 8945 bales, as compared with 9003 bales for the corresponding sale last year. Our catalogue was a fairly representative one, comprising 1207 bales (mostly composed of small clips), of which we sold 848 bales, which, with 215 bales sold privately since our last auction, makes our total sales since last report 1063 bales. When our sales started at 2 p.m. there was a good attendance of English, Continental, and local buyers, and goocl^ competition at lately-reported rates, which are, however, from a Jd to Id per lb below values ruling at our last sale. The fall in prices was fully expected, as the London sales which closed last week showed a fall of fully 10 per cent, on December rates, while the Australian brokers report a fall of from Id to ljd per lb. Both at the London and Australian sales the fall was most pronounced on all merinos and fine wools, which was x also the case at the Invercargill sales; but this was not so here on Friday, on account of the spirited competition for such wools by local manufacturers. All coarse and irregular halfbreds and crossbreds were, however, slow of sale at reduced limits, though, from cable -advices received from London and the manufacturing centres, we are confident that prices obtained here are fully up to London parity. The decline in the value of wool is hardly to be wondered at, as fine wools 111 particular were forced up to a very high level at the end of last year, when there was a strong speculative demand, and, now that large Australian purchases are arriving at the manufacturing centres, buyers can afford to act with more reserve, in the hope of buying cheaper wool later on. Both the Bradford and Continental top markets have fallen considerably during the last three weeks, and as tops have been sold for future delivery on the Continent at below ruling rates, it does not argue well for the immediate future of the wool market. In the face of the proved further heavy shortage in the Australian clip as compared with the very diminished production of 189S, it is not likely, however, that there will be any further serious fall in prices. Growers must remember that coarse wools, which were the most difficult to sell, are in over-supply, the production having enormously increased during the last five years both from the Argentine and New Zealand ; in fact, at the present time there are 80,000,000 crossbred sheep in the Argentine. Added to this crossbred goods in the manufactured state arc out of fashion ; consequently there is a great difference in the value of the various grades of wool, according to qiiality. Our top price for greasy wool on 'Friday was 14Jd, which we obtained for a line of merino fleece branded C over WT, gi own by Messrs W. and T. Telford, of Clifton, Waiwera; this compares Tffth 15Jd obtained for the same brand at our last sale. Our next sale will be held on the 52nd inst. The following were the ruling valups at the sp.les to-day — Merino — Superior, to Hski; good, lid to 12Sd ; medium, lOd to I]d; inferior, 9d. B'xKbred — Superior, 12<1 to 13JUI, good, ]OJd to V?A; medium, B|d to lOd; infenoi, 7£d to BJd. Ciossbred — Superior, Bid to IGJ ; good, 7^d to S£d; Medium, 7c to 8d; inferior, SJd to 6Jcl. Merino pieces — Superior,

to 11 Id ; good, 9d to lOJd ; medium, 7£d to 9d ; inferior, 5Jd. Crossbred and halfbred pieces — Superior, 8d to 9d ; good, 6]. dto 7Jd , medium, 5d to 6d; inferior, 3id to 4£d. The following lots were sold: — Merinos — C over WT (Messrs W. and T. Telford, Clifton, Waiwera), 16 bales merino 14£ d, 4 do second 14d, 5 merino 13Jd; TC (Mr P. M'Atamney, Hamiltons), merino 12Jd, 7 do 12d; O in circle (Mrs Wm. Walker, Otama), G do 12d;/TF (Mr Thomas Flannery, Ida Valley), merino llfd ; S with inverted T (Mr Thomas Spain, Ida Valley) 7 merino ll$d ; PC over H (Mr P. A. Connelly, Hyde)" 7 merino wether lUd, do ewe lOgd, do hogget lOJd; D, (Mr W. F. Dundass, Ida Valley), merino lid; Chatto Creek over KB (Messrs Kmny Bros, and Brown, Ophir), 8 merino ewe lljd; B7 (Mr Jamas Black, Gimmerburn), 7 merino ewe lljd ; TE (Mr Thomas Mawhinney, Wedderburn), merino wether lid ; A (Mr John Boattie, Cambrians), merino wether 10id; RL (Mr Robert Little, Gimmerburn), merino ewe lOjJd ; KOO (Mr R. Kinsman, Hamiltons), merino lOfd; heart (Mesers A. Mackay pnd Sons, Rock and Pillar), merino ewe 10id; AND (Mr Robeit Trotter, Hyde), merino lOd; CM (Mr John M'Lean), merino lOd. Halfbreds — (Mes&rs Anderson 8r03., Waiwera), 5 halfbred lid ; J (Mr John Feriton, Gimmerburn), 4 halfbred lOJid; (Mr John Aitkenhead, Becks), halfbred 10£ d; AT over X (Mr A. Thomson, Kelso), halfbred 10£ d; M (Mr William Muir, North Taieri), halfbred lOfd; WW (Mr John Taylor, Kyeburn), halfbred l(»d; MR (Mr E. Gallager, Middlemarch), halfbred lOJd; Q (Mr George Murdoch, Waipiata), halfbred 10£ d; TE (Mr Thomas- Mawhinney, Wedderburn), halfbred ewe 10^d ; dash over Jl^ halfbred lOJd ; B2 (Mr P. Bleach, Eweburn), halfbred lOJd ; O (Mr "VYm. Hanger, Si Bathans), 7 halfbred lOJd; TF (Mr Thomas Flannery, Ophir), halfbred lOd; G (Mr George Pearson, Gimmerburn), halfbred lOd; FI (Mrs Freeland, Pigroot), 11 halfbred lOd. Crossbreds — C over WT (Messrs W. and T. Telford, Clifton, Waiwera), first crossbred lO^cl, 8 second do 9Jd; HK conjoined (Mr Hugh Mackay, Pomahaka), crossbred lOd ; 88 over dash (Mr R. M'lntosh, Chatto Creek), 7 crossbred 9|d; AT over X (Mr A. Thomson, Kelso), crossbred 9d ; J (Ml John Fenton, Gimmerburn), crossbred B^d ; J (Mr John Leslie, Cambrians), 5 crossbred 83d; O (Mr William Hanger, St. Bathans), 7 crossbred 83d.

Messrs A. Moritzson and Co. report as follows : — "We held our third sale of the season* in the Agricultural Hall yesterday. There was a large attendance of Home, Continental, and local buyers present, but except for lines suitable for the factories competition was not very animated. Owing to a fall in the London market prices were considerably lower than at our January sale. As compared with prices then ruling, merinos were from £d to Id, best halfbreds id to ljd, and medium halfbreds and crossbreds from |d to ljd per lb lower. Locks and pieces had good attention, and sold well as compared with fleece. The following were the range of values : — Greasy Merino — Super, 12d to 14Jd ; medium, 9Jd" to lljd ; inferior, 8d to 9Jd. Halfbred— Super, lid to 13 Jd; medium, 9d to 10 Jd; inferior, 7d to Bd. Crossbred— Super, 8&d to lOJd; medium, 7|d to BJd; inferior, 6d to 7d. Merino bellies and pieces — Super, 9d to lljd ; medium, 7id to B|d ; inferior, 6d. to 7£d. Halfbred bellies and pieces —Super, 8d to lOSd; medium, 5Jd to"7£d; inferior. 4d to sd. Locks— Super, 5d to 6d; medium, 2Jd to 4d ; inferior, Id to 2d.

Maclean and Co. report having held their third sale of the season at the Agricultural Hall on Friday, when they submitted a catalogue of 440 bales. The usual complement of buyers were present, and although the bidding was less spirited than at last sale, and prices suffered a general decline of |d to l^d, the result, must be considered fairly satisfactory in the face of the present disquietude of national affairs. Following are a few of our leading prices: , 2 bales greasy half bred ewe lOd, 3 crossbred (2 ewe, 1 hogget) B£d; inverted T over T, 6 halfbred lljd, 5 fine crossbred 9d ; £) over } 4 halfbred lOd; JI, 8 crossbred hogget 7id; FH, 4 halfbred ewe 9d, 6 halibred hogget 7*d; 2 pieces 4|d; 88, 2 crossbred ewe 7kl; GB, 3 halfbred 9Jd, 6 crossbred 9d ; FA 2 halfbred ewe (7 crossbred on top No. 1) 7^d ; 98, 4 crossbred B*d ; HL conjoined, ±5 halfbred ewe 9',d, 5 halfbred hogget BJd, 3 halfbred first pieces 6d, 9 Komney hogget 7cl, 3 bellies ijd; X in diamond, 2 slipe first combing merino lljd, 3 first crossbred lamb 9|d; E in diamond, 3 scoured merino combing 23d, 4 greasy crossbred 7Jd; C 6, 2 fine crossbred 7^d; 3 halfbred 7?d ; TE conjoined in circle, 3 crossbred wether and hogget (No. 3 part ewe) 7gd, 4 crossbred ewe 8d; E in diamond, 3 scoured merino first pieces 20Jd ; half circle over AH conjoined, 4 greasy halfbred 7|d; reversed RM conjoined, 3 halfbred 7id.

The New Zealand Loan and Mercantile Agency Company report having held their third sale of the at the Agricultural Hall on Friday. Quite as many buyers were present as nfc any previous sale, the usual Home and foieign operators, as well as those repiesenting the local houses and district and adjoining woollen mills being there, and apparently all prepared to do business when prices came within their limits. In consequence of the tone of the late cables, and the fact of all wools having suffered a considerable drop at the late London sales, prices, although what would have been called splendid in fine wools any tune during the last 12 or 13 yeais, suffered a considerable all-round drop since last sales held here three weeks ago, and we are afraid that many farmers are somewhat disappointed at the turn things have taken. Values seemed hard to follow, the drop in the various qualities being very different. The biggest drop appears to be in fine pieces, merino and crossbred. Fleece of the same variety was very keenly competed for, and judging by this catalogue showed a drop of from 3Jd to Id, while medium crossbred showed a drop of from Id to 3JJ, and in some instances, for lather unsightly wools, a greater difference than that was observable. JTeavy-conditioned merino also showed a drop of from Id to ljd, but anything light in condition and fine met

with ccnipetitiim. which was abead of whr.t we expected after hearing of the result of the sale at Invercargill on Wednesday last, Mr John Johnstone, of Kaihiku, as usual, topped the ' market with his merino at 14|d, which is a grand price considering the late fall in this commodity. The following is the range of prices 1 realised by our catalogue : — Merino, super, 13Jd ' to 14Jd ; medium and good, lid to 13d : inferior, 9d to lQid. Halfbred super, lid to 12Jd ; ; medium and good, 9d to 10|d , inferior, 71& to Bid. Crossbred — Super, BJd to 9kl ; medium and good, 7-^d to BJd ; inferior, 6d to 7d. Merino pieces — Best, 8d to 9Jd ; good &n\ medium, 6cl to 7£d. Halfbred pieces — Best, 7kl to BJd ; good and medium, 6d to 7Jd. Crossbred pieces— Best, sgd to 6Jd; good and medium, 4^d to 5Jd. Crossbred bellies — Best 4|d to s\d ; medium and inferior, 3VI to 4Jc!. Merino bellies — Best, 6Jd to 7Jd ; medium md inferior, 5d to 6d. Locks — Merino to 6d ; crossbred to 4Jd ; inferior merino to 4d; crossbred to 2|d. The following are the best prices realised at our sale: — TJ, halfbred to lfljd ; JK over Hyde, to 9Jd ; Double Diamond over — , merino to ]3d, halfbred to lOJd; ! T in half-circle, halfbred to 9M; AE, quarterbred to 12Jd ; AB and Co., halfbred to 9Jd ; FC, crossbred to B.fd; MM over M, crossbred to 9Jd ; DH, halfbred to 9|d ; — over S, halfbred j to 11 Jd; H, crossbred to B£d; FF, halfbred , to lOJd ; TK, halfbred to lid ; FC in circle over Phaua, halfbred to 9£d; Taieri over Lake, halfbred to 9£d, merino to lOJd ; half-circle over R, halfbred to Is; c.7,c .7, merino to lOd; Two JJ inverted, halfbred to ]2Jd, merino to 142 d; ■ I diamond, crossbred to 9Jd; Imvercharron, halfbred to 9d; El, halfbred to lid; B, halfbred to lO^d ; WE, halfbred to lOd ; X, quarterbred to Is, halfbred to ll£d ; WM, halfbred to 9Jd ; JS, halfbred to 9Jd ; Gainard, merino to 32Jd; X, merino to 13Jd, halfbred to B|d; BL, halfbred to 9Jd; Doable Yoke \inder Bar, merino to 13d, halfbred to 13d ; Bin half-circle, ' merino to lljd ; TD, crossbred (part merino) to 9d; 7W, merino to lOd. ,

Stronach Bros, and Morris report having held their third sale of the season at the Agricultural Hall, on Friday, 2nd Februaiy, when buyers and growers were well represented. As indicated by London cables and reports of sales at Wellington, Christchurch, and Invercargill, values here showed a considerable drop on those ruling at last series ; in fact, if it had not been for the competition of the local woollen mills an even more disappointing sale would have been the result. Compared with previous sales, merino super declined |d to ljd, do medium and inferior lid to lfd, halfbreds 3d to ljd, crossbreds and longwools Jd to ljd. Pieces and locks declined proportionately. A new departure was made this sale at the instigation of buyers, all single-bale "" lots being starred, and not offered until the rest of the catalogues had been disposed of. The system is one adopted at most of the leading centres outside the colony, and is likely to be generally in vogue next season. It has some disadvantages, but on the whole we consider it an improvement, and anticipate its smooth working in the future. The total catalogues comprised close on 9000 bales, making, so far this season, a total offering of 24,200 bales, compared with 22,300 for the corresponding sales of last season. Our catalogue consisted of 450 bales, and embraced several very good clips. Foremost amongst these was Messrs J. and H. M'Coimick's (Waitahuna) H in circle, ancl with this, as is usual, we topped the market for halfbred, 13 bales, notwithstanding the drop, realising 133 rd. We also sold f or^ Mr Andrew Jopp, Moutere Station, halfbred at 12|d, and for ilr'John Rose (Waitahuna) do at 12d. Messrs Wright, Stephenson, and Co. report: We held our third sale on Friday afternoon, when we catalogued 2600 bales. The wools offered at this sale were not equal in condition or appearance to those submitted on the 12th January, but there were some few clips which showed' tip conspicuously. Among these we might mention the following brands : — Waipori, AJ, Balruddery, x over O&M, JT, ovev _, AX, Glen Nevis, — over T, JBJ, W over 2 (in red), Braxton, 2F, J4, SB, Hat, HM over O. There was a good attendance of the trade, but bidding was not spirited. We regret having to report a a all-round decline in prices, and although the fall was anticipated, having occurred at th.2 other wool selling centres in the colonies, it must come as a great disappointment to many wool-growers who expected their clips to realise the high rates ruling at last sales here. To-day's decline is from M to Id on merinos and fine halfbreds; |d to ljd on all crossbreds ; and Jd to gd on pieces and bellies. The cause of the fall is doubtless owing to the depressed state of the European markets, and the consequent lowering of buyers' limits by their principals. The following are prices current: — Merinos — Super, 15d to 13£ d; good, 13Jd to 12Jd ; medium, ll^d to lOd : inferior, 9Jd to BJd Halfbreds— Sup"er, 13id to llJd; good, 111 to lOd; medium, 9d to BJd ; inferior, 7£d to 6|d. Crossbreds— Super, 9|cl to BJd;'good, 8d to 7Jd ; medium, 7d to 6id ; inferior, 6Jd to s£d. Three-quarterbred longwools — Super, 7Jd to 7d ; good, 6|d to 6^d ; medium, 6d to s|d ; inferior, 5Jd to ihA. Pieces and bellies — Super, lid to 8d; good, 7d to 6Jd ; medium, 6d to 5Jd; inferior, 4|d to 31d. Locks — Super, sd'to 4Jd; good, 4d to 3Jd ; medium, 3d to 2Jd ; inferior, 2d to Id. The following wools brought highest prices in their respective classes : — Merinos — 2, 8 bales merino 12|d ; Glen Nevis, 16 combing wether - ] 2|d, 10 clothing wether 12d ; Waipori, 9 first combing 13|d, 13 second do 13d ; D 3, 9 merino 13d ; N over Abbotsford, ? 2 merino wether 14d; AJ, 5 super merino 14£ d. Halfbreds — AJ, 2 bales halfbred ewe 12|d; Waipori, 6 first combing 'halfbred 12Jd; V in circle, 10 halfbred ] l^d ; S A, 3 halfbred ewe ll|d. Crossbrpds — T, 4 bales fine crossbred ewe 9Jd. Merino pieces — x over O&M, 2 bales first quarter-bred 9Jd ; Glen Nevis, 2 first pieces 11 Jd, 5 pieces 9Jd. Halfbred pieces — x over O&M, 2 bales first pieces Bid.

Messrs Donald Reid and Co. report as follows: — We held our third sale of the season's series at the Agricultural Hall, Dunedin, on Friday, 2nd February, when we submitted a catalogue of 1281 bales of wool, comprising station clips, small grazing mn, and farmers' lots, a fair proportion of the catalogue being merino and fine halfbred wool. With the exception of a few manuka and fern-stained lots from high country, the bulk of the wools opened out well, clean, and sound in staple, showing the flocks had been well wintered. There was again a large attendance of growers and others interested in the sales, and a good attendance of

buyri-3 who bid with commendable spirit u]»to their range of values. We regret to note thatf in the interval since our last sales there has been a considerable drop in values, and although bidding to-day was brisk up to the limits of the buyers, nevertheless in most cases we were forced to accept a reduction of from id! to lJd per lb on values ruling at our last sale, if sales were to be effected. Owing to the lata hour at which the sales started — 2 p.m., — and; with so many lots to be got through, to meet the requirements of the buyers an innovation in the conduct of our local sales was- introduced, to the extent of selling lots of two bale 3 and upwards and leaving single bale lots io be sold after the larger lots were all disposed of. This is the practice invariably followed in the London and Australian sales, with the exception that in these sales only lots of four bales and upwards are offered at the chief sales, the smaller lots, known as star lots, being included in a separate sale. Owing to this new departure of the 1281 bales in our catalogue only 1173 bales were offered to-day, 1071 bales of which were sold at auction, and 102 bales were passed in owing to vendors' reserves, and in some cases valuations not being reached. On tlu whole prices may be reported as from ftd to lid below those ruling at the previous sale. Our fouith and last sale of the season's series will be held on Thursday, 22nd inst. The following shows the range of current prices: — Greasy merino— Super, 14|d to 13Jd ; good, 13d to ll|d; medium, lHd to lOd; inferior, 9|d to 9Jd. Halfbred— Super, 18|d to 12d; good, llfd' to lOd; medium, 9Jd to BJd ; inferior, 8d to 7<LCrossbred— Super, 10|d to 9d ; good, B^d to 7Jd ; medium, 7£d to 6ijd ; inferior, 6£d to sid. Pieces and bellies— Super, ll|d to B£d; good, 8d to 7d; medium, GJd to Sid; inferior, Sd to 4d. The following weli-known brands realised "highest prices: — P within rules, 6 bales halfbred 13d; A over RC, 6 super halfbred 13d ; JD over Rees Valley, 2 A combing halfbred 12d; half-circle over D, 3 halfbred lid; MF, 2 halfbred lOJd; HC, 2 merino and halfbred 10£ d- G2. 7 halfbred lOJd; HB in circle, 4 halfbred 10£ d; Thistle, 9 fine crossbred hogget load; G2, 7 first crossbred ewe 9Jd; RC in square, 25 crossbred 9Jd; EMC, 14 crossbred 9ja ; A over RC, 4 fine crossbred 9d; Thistle, 12 fine crossbred 9d; A3, 8 fine crossbred 9d; HH, 3 first crossbred 9d; XX, 5 fine crossbied 82d; Kaiweia Downs, 11 first crossbred ewe B|d; 7A conjoined, 7 crossbred SJd; — over JJ, 7 crossbred hogget BJd; WL, 5 super merino 14Jd; M in diamond over MS. 16 firsfc combing merino 13Jd, 29 merino 13|d ; JD over Rces Valley, 6 B combing merino 13d; 15 Al combing merino 13d. 4 do 12Jd; G, 2 merino and halfbred 12ad : JD over Rees Valley. 6 B combing merino 12Jd ; Z over — , 3 merino 12Jd ; M in diamond over MS, 12 merino 1 12Jd; RMc over A, 5 merino 12d; HR conjoined over Shears, 4 A merino ewe HJd; JD over Rees Valley, 3 A combing comeback Hid, 9 A merino pieces Hid; — over N, 6 bales greasy fine halfbred 9Jd; JMB over — , 2 crossbred 7§d; 6. 2 crossbred hogget 73d, 3 halfbred n&d ; PH, 2 fine halfbred 9d ; FH, 2 merino lOd."

The Farmers' Agency Company (Limited) report having held their third wool sale of the season on Friday, when they submitted a catalogue of 835 bales, comprising some choice parcels. Owing to a new arrangement, made at the request of the buyers, the one-balo lota were not offered, but were submitted at a separate sale on Saturday morning. Thia is similar to the system in vogue in the London market in dealing with "star" lots. Fine wools were well competed for, but showed an appreciable drop -as compared with previous sales, while the coarser sorts were fully l^d per lb down as compared with the sale on January 12. Merino and fine halfbred were sold up to 13 Jd ; crossbred up to 9Jd. The company's detailed list of prices realised will be sent to all clients to-day.