THE WOOL SALES.

Otago Witness, Issue 2565, 13 May 1903, Page 18

THE WOOL SALES.

LONDON, May 5. The wool sales opened risk, and show an advance of from par to 10 per cent. May G. At the wool sales Messrs Buxton and Co., Bahne and Co., Jacombs, Sou, and Co., and Hoare and Co.'s catalogues comprised 8(575 bales of Australian and ! IJGOI bales from Puntas Arenas. There was an unusually large attendance of buyers from all quarters. There ' was excited competition for all sorts. ] Compared with the March closing rates merinos showed an advance of from par ; to 5 per cent.; fine crossbred, 5 to 1\ per cent. ; medium and low, fully 10 per cent. There were similar advances in lambb' and clothing wools. Conti-

; uental buyers were operating strongly in j crossbreds. j At the wool sales prices wero firm, and yesterday's opening rates fully maintained. Merinoes are quoted at 5 per cent, above the closing rates of the , March series. May 7. The following prices were realised :— i Otairi clip, s§d ; Brancepeth, 6|d. The wool sales were animated, with a further upward tendency. May 8. At the wool sales prices are fully maio» tamed, and Continental buyers are operating freely. The limit of the July series of wool sales will be 140,000 bales net new. | arrivals. May 10. At the wool sales bidding was brisk and prices unchanged, home and Continental buyers competing eagerly. Tho sales included the following clips: — • Ellerslie, Is o|d ; Kapatune, Is lfd; Manakuri, 7£d ; Castlerock, 6|d; Kiwi, 6|d; Mako, 6d. Up to date for the present series 50,048 bales have been, catalogued, and 48,172 sold. The New Zealand Loan and Mercantile Agency Company (Limited) are in receipt of the following cablegram from their London office, dated sth May: — " The wcol sales opened sth May, the competition being keen and attendance very good. Prices arc about 5 per cent, higher for fine gre-asy crossbred merino, fine crossbred slipe, and fin© scoured crossbred ; 10 rer ccni. to 15 per c?nr. higher for medium greasy, medium, eronred, snd coarse crossbred, and medium crossbred slipe. crossbred slipe, and coarse i scoured crossbred. There arc 208.000 bate.s available, including a quantity held over from last sales." Tho National Mortgage and Agency Coin< TKiJiy have received a cable from their London office, under yesterday's date, as follows: — "Wool sales opened at the followiup average advances on clceir.g rates of laefc sales : Merino, all descriptions, 7£ per cent. ; crossbred, finest descriptions, 7g per cent. ;■ crossbred, medium descriptions, 15 per cent. : crofebred, coarse descriptions, 10 per cent." Meftsrs Dalgety find Go. (Limited) reporb' having received the following cable from* the head office, dated London, May 8: — " Wool sales continue firm, with an upward tendency." The. Department of Industries and Comi mcrce has received the following cablegram) ' from the Agent-general, dated London, 6th! insr. :— "The May series of wool sales, nowi proceeding, include 79,000 bales of New, Zealand wool. Both Home and foreign! j competition is active. Values for fine ancß I coarse crossbreds and merinos have advanced id per lh ; medium crosabreda, %<i per lb."Messrs Dalgety and Co. (Limited) reporti having received the following cable from their head office, dated London, sth May:— 1 " Wool sales opened ; large attendance of buyers ; indifferent selection ; competition v '.tv animated. So fat hardly any merlons