THE WOOL SALES.

Otago Witness, Issue 2661, 15 March 1905, Page 22

THE WOOL SALES.

LONDON, March 7. The wool sales opened dull, prices ranging from par to a decline of 7£ per cent. March 8. The Leading wool firms submitted 11,953 bales of fairly representative selections. There was a full attendance from all quarters, the sales arousing great interest. Competition was irregular compared "with January closing sales. Merinos are practically unchanged. Faulties were occasionally 5 per cent, lower ; fine crossbreds, about £d cheaper; medium, 5 per cent., and coarse, from 5 to 7^ per cent, cheaper. The amended list shows that 179,500 bales are available for the sales. The wool sales are more spirited, and sales are firm at opening rates. March 10. The wool sales closed firm at opening rates. There were some withdrawals of merinos. Tho New Zealand Loan and Mercantile Agency Company (Ltd.) are in receipt of the following cable advice from its London office regarding the opening of the March series of wool sales: — " As compared with last sales' closing rates, prices are lower, as follow : For merino, medium and inferior. end fine crossbred, aboiit par to 5 per cent; for coarse and medium crossbred. About 5

per cpnt. to T z por cent. Competition y both Home and foreign buyers is fairly acthe."

The National Mortgage and Agency Co. of New Zealand (Ltd.) has received cable atl\ ice fiom it^ London office that the London wool «ales opened yesterday. Market imehanged for merino be ; t descriptions aa average decline of 5 per cent, for merino low and fau'ty dc»cnptior->: market unchanged for crossbred finest desc viption 01 . ara average- decline of 7^ per cent, crossbred medium and coai^e de=;cr;ptioii6.

The Industries' and Commerce Department has received a cablegram fiom tho Agent-general, dated London. Bth, wliich. says: "Thnre was a fair competition at the wool sales, there being plenty of Home and foreign buyers present. Compared \vi*h closing rates last Eale, superior merino is tinchanged, whist medium ancl inferior merino and fine cro.-sbreds show a tall of Ad per lb and medium and coarse crctsbieds a fall of Id. Seventy-five thousand bales of New Zealand wool are available fo- the present «eric 3." Messrs Da'.gety and Co (Limited) report having received the following cable from their "head office, dated London, 7th March:— "Wool sales opened; large attendance of bin ors ; competition fairly animated. As compared with closing rates of last series prices for merino and fine crossbred wools are afc par to 5 per cent, lower, medium and coarse crossbred wools 5 per cent, to 10 per cent, lo^-er." London, Bth: "Wool sales continue fum. without further change. Prices for good greasy merino wools aye on a par with closing rates o£ last series ; greasy inferior, faulty, and! earthy wools, and scoured faulty ♦ools ar© fully 5 per cent, lower than closing rates of last series."

The New Zealand Loan and Mercantile Agenev Company (Limited) is in receipt of thf following cable ad\ice from its London office regarding the progress of the March series of — viz.: "As compared with last sales' closing rates prices are lower, as follow: — For coar-e and medium crossbred by about 7], to 10 per cent. ; for merino, inferior faulty wool, by about 5 per cent, to 7£ per cent. Competition is brisker at the present rate?."

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